Global Real Estate & Investment News from Propertyshowrooms.com
News and articles on worldwide property and real estate investment
France could be an investment hotspot this year
9 Mar 2010 at 12:00am
French property is likely to be at the forefront of the minds of many investors this year, with foreign buyers looking to capitalise on the popularity of eurozone destinations.
According to a survey conducted by HomeAway.co.uk and Savills, there will be a resurgence in wealthy lifestyle buyers, purchasing property with cash.
Established markets such as France are likely to be the beneficiaries of the property buyers as many shy away from more risky markets in light of the economic climate.
Courtney Wylie, general manager at HomeAway Holiday-Rentals, commented: "Traditional holiday hotspots are among the top-performing destinations … with places like the Cote d'Azur, Malaga Province, the Balearics and the Algarve all being great options for reliable rental returns.
"For anyone hoping to rent, it is essential to research the tourist market first, particularly when considering emerging markets. Access to the destination should also be considered."
International Property Magazine recently placed France at the top of its Quality of Life Index for the fifth year in a row.
Portugal property is attracting a growing amount of interest
9 Mar 2010 at 12:00am
Portugal's property market is attracting an increasing amount of interest from potential investors, it has been claimed.
Overseas housing news website Property Community has reported that property portal Infinito Real has seen a 17 per cent month-on-month rise in the number of enquires about the country within the last quarter.
The website reports that this growth can be attributed to the fact the country is not overcrowded like some of its close competitors and also to its recent positive press coverage surrounding its economy.
Stephen Anderson, managing director of Infinito Real, told the news provider that a number of factors had contributed towards Portugal's growing popularity.
He continued: "We have seen that a number of buyers who postponed their plans in 2009 are now ready to move which has created a backlog of buyers wanting to move as soon as possible.
"The small increase in the exchange rate from almost £1 to €1 throughout most of 2009 … has had a profound effect."
Earlier this year, the European Commission predicted that Portugal's economy would fare better in 2010 than previously expected, potentially growing by 0.3 per cent.
Property tax increases 'will not stop demand' in Thailand
9 Mar 2010 at 12:00am
Thailand's housing market is unlikely to be affected by the government's decision not to renew its property tax breaks, it has been claimed.
According to a report by Overseas Property Professional (OPP), property developer CB Richard Ellis is confident that the removal of the incentive is not going to affect international sales within the country.
The developer believes that the housing market is now strong enough to stand alone without needing to attract investors.
CB Richard Ellis's executive director for Thailand, James Pitchon, explained to OPP that the incentives did not include projects due to be finished after March 2010.
He continued: "In the Bangkok market, Thai buyers dominate the market and the removal of incentives will have little affect on foreign demand because it is already limited.
"In the resort markets, many projects are sold on a leasehold basis and leasehold sales did not benefit from tax incentives so again we see little impact on foreign demand from the removal of incentives."
Some developers within the country have claimed that the tax rises could result in a reduction in profits.
The International Valuation Standards Council recently introduced new guidelines aimed at making Thailand's property market more transparent.
Low prices and reductions drawing canny investors back to Spain
8 Mar 2010 at 12:00am
Now is the time for property investors to take advantage of low prices in the Spanish rental property market, it has been suggested.
According to Savills Select Resorts, an increasing number of luxury properties in the country are being purchased by investors capitalising of discounted homes in the favoured destination.
Savills are quick to point out that many developers are offering attractive financing options to tempt buyers back to the market.
They say: "Exquisite Spanish homes that were unaffordable less than a year ago are now being snapped up by canny investors and lifestyle buyers taking advantage of the lower prices and massive reductions being offered by developers."
Among the more popular destinations are new developments in Marbella on the Costa del Sol.
The La Floresta de la Mairena is the first new project in the region for three years, something that Savills says reflects the increasing demand now being seen in the market.
Furthermore, the National Association of Estate Agents International recently recommended that buyers invest early in the country to take advantage of bargain properties.
Thai property set for price increases
8 Mar 2010 at 12:00am
The Thai property market is bracing itself for price increases at the end of March after government officials decided that they would not be renewing tax breaks.
According to a report on Property Wire, the decision was made after news that the country's economy was in recovery and many developers are now running at a profit was released.
Incentives including reductions in property transfer fees and lower mortgage registration costs have helped to boost sales in 2009 by as much as seven per cent.
It will mean that the current transfer tax - set at 0.01 per cent - will rise to two per cent while mortgage registration fees will increase from 0.01 per cent to one per cent.
The news may be of interest to individuals looking to purchase property in the Asian country, who will have to move quickly to take advantage of the reduced costs.
Land & Houses, the country's largest developer, explained that the changes would result in single figure, rather than double figure growth for the coming year.
The International Valuation Standards Council recently introduced guidelines that will make the Thai property market more transparent.
US market stabilising but appreciation not predicted for a while
8 Mar 2010 at 12:00am
Individuals with a property interest in the US will be encouraged by news that falling real estate values in the country are slowly levelling out.
According to a report published by Barclays Capital, there will only be another four or five per cent drop in prices before the market begins to stabilise.
However, the paper warns that significant appreciation is unlikely to occur within the next few years.
It praises the US government's efforts to slow the rate of foreclosures as helping to ensure prices did not go into free-fall.
The report adds: "Home prices do seem a little cheap, using fundamental metrics like price/rent and price/income ratios, but not extremely so.
"Thus, a meaningful rise in prices would need big changes on both the technical and fundamental fronts."
Individuals looking to make a long-term investment may wish to consider looking across the Atlantic, where numerous foreclosed properties could present them with a bargain.
Warren Buffet recently predicted that the US property market would be in recovery within the next year.
Bulgaria could adopt the euro by 2013
5 Mar 2010 at 12:00am
Bulgaria could become a eurozone destination as soon as 2013, some analysts have predicted.
According to a report by Novinite, the European parliament president Jerzy Buzek has said he would welcome Bulgaria into the European Union, after meeting with the country's prime minister last month.
"Bulgaria has the opportunity to become member of the eurozone in 2013. I would welcome this kind of development," Novinite reported Mr Buzek as saying.
The news is sure to interest individuals with a property interest in the country or those looking to buy there in the future, as it means property in the country will benefit from the introduction of a stable economy.
One requirement that the European Union enforces before adoption of the currency is that budget deficits must be within three per cent of GDP.
The announcement comes at an ideal time, as many analysts are expressing concerns that the Greek debt crisis could spill-over to the destination.
Bulgaria was recently named as one of the best destinations for investment in 2010 by overseas investment company Property Venture.
Dominican Republic to benefit from insecurity in the EU
5 Mar 2010 at 12:00am
Growing fears from European investors about inflation and currency devaluation will have a positive affect on the Dominican Republic property market, it has been claimed.
According to property portal Property Abroad, the Caribbean destination is set to see an increase in the number of investors looking to put their money into assets like houses.
The portal states: "The Caribbean is a favourite with these buyers because it is seen as being one of the few regions that has remained largely insulated from the global financial infrastructure."
It goes on to explain that because property prices in the country are relatively low it will attract a new breed of buyer with slightly less cash and a desire to invest their savings.
Furthermore, new government guidelines alongside a growing tourism market make the island an ideal place to rent and even witness gains in property value.
Last October, British Airways increased the number of flights which it offered to the country to keep up with increasing demand from holidaymakers.
Turkish property is "undervalued"
5 Mar 2010 at 12:00am
Istanbul is an attractive proposition for property investors who will be able to return a good profit on their original outlay, it has been claimed.
According to a report in the Belfast Telegraph, demand for housing in the country is growing and the fact that property is relatively cheap is spurring potential investors on.
David Richardson, of Property Sun Turkey, told the paper: "Property prices are undervalued so there's an opportunity to make good money in Istanbul - up to 40 per cent profit - in the next two years for a well-chosen off-plan investment.
"But for most foreigners, I'd recommend a medium-term, five-year investment strategy as capital gains tax is nil after that period."
Potential house buyers will be able to take advantage of the fact the Turkey is currently a non-eurozone destination and as such can benefit from a favourable exchange rate between the Turkish lira and GBP.
Furthermore, the tourism industry in Turkey is expected to experience significant growth in the next few years, research company RNCOS has claimed.
Melbourne stars in property transactions
4 Mar 2010 at 12:00am
Rapid recovery and rising house prices make Australian property a safe investment, it has been claimed.
The Real Estate Institute of Victoria (REIV) revealed that the largest number of weekly transactions ever had been recorded in Melbourne last month where property sales accumulated over one billion AUD.
David Airey, president of the Real Estate Institute of Australia (REIA), said that it was reflective of the fact that Melbourne was a strong market in the country.
Furthermore, he added that in general, property prices were strong and continuing to grow and as such further increases were to be expected during this quarter.
"The property market in all Australian capital cities has had a rapid recovery from mid-2009 on, and noticeably in Melbourne and Sydney with property prices rising quite significantly over that six-month period," he said.
Mr Airey cited the recent news that nationwide the country had seen house prices go up by around 12 per cent in 2009 as a good reason to invest.
Meanwhile, the Australian Bureau of Statistics revealed that Australia saw a record number of arrivals and departures to the country last year.
Northern Brazil popular with investors
4 Mar 2010 at 12:00am
North-eastern Brazil has massive growth potential for individuals looking to invest in the country, it has been claimed.
According to an article on Overseas Property Professional (OPP), an increasing number of agents are focusing their efforts on property in the north-eastern region.
The property information website cites the area's popularity with tourists and a growing middle class as reasons for its popularity.
Samantha Gore, sales and marketing manager for property agent UV10, explained to OPP: "Although the area has traditionally been poorer, a disproportionate number of people are moving from low to middle-income groups.
"It's got very high growth potential and there's more space to develop in somewhere like Natal than in Rio."
Furthermore, the Getulio Vargas Foundation has reported that the country's middle class has grown to 49 per cent of the total population, a figure which is sure to interest potential property investors looking to rent high-quality property.
Brazil has been chosen to host the 2014 football World Cup and the 2016 Olympic Games.
Economic recovery boosting Malaysian property market
4 Mar 2010 at 12:00am
Speedy
economic recovery in Malaysia
is expected to have a significant effect on the country's property market, it has been suggested.
Datuk Abdullah Thalith Md Thani, director general of Valuation and Property Services Department at the Malaysian Finance Ministry, said that the demand for property was returning.
The growing demand for produce and increasing cost of things such as rubber and crude oil is also helping recovery.
He added: "The property market for this year will improve as the number of transactions involving new housing and construction activities increases."
Furthermore, Mr Abdullah Thalith said that the government would continue in its attempts to make the
Malaysian property
market appealing to foreign investors.
He cited the liberalisation of the Foreign Investment Committee as one particular measure being used to increase buyer confidence.
According to property website Prime Location, the government in Malaysia is doing a good job attracting British buyers to the country.
With initiatives like the Malaysian My Second Home Visa programme and the lack of capital gains tax when selling a property, investment in the country is seen as a viable option for many.
Turkish developer offers investors the deposit choice
4 Mar 2010 at 12:00am
One Turkish developer has introduced an original deposit scheme for its customers in an attempt to combat the financial crisis.
Signature International has launched a 'pay what you like' payment plan at one of its best resorts in the popular region of Bodrum.
It means that customers will be given the choice as to the size of deposit they put down and the period of time over which they have to pay it.
Daniel Dias, spokesman for Signature International, explained: "We're conscious of the challenges posed by the current financial climate and try to eliminate any worries clients may have.
"Some are cash-rich and want to pay a large upfront deposit, others prefer to spread the load as thinly as possible. In every individual case, we should have it covered."
Furthermore, investors need not worry about getting a steady flow of tourists to their properties after three low-cost airlines announced that they would be implementing new flights to Bodrum this year.
Pegasus Airlines, Easyjet and Monarch will all be flying new services to the country during 2010, highlighting the growing popularity of the non-eurozone destination.
UAE property market recovery to start in 2011
4 Mar 2010 at 12:00am
The real estate market in the UAE is poised for recovery during 2011, it has been claimed.
According to one of the largest developers in Dubai, Deyaar, the property market has reached the bottom in the emirate and is ready to begin posting a steady recovery.
Markus Giebel, Deyaar chief executive, said: "In my personal opinion Dubai will see a recovery in year three, by which I mean 2011."
Mr Giebel did not speculate on whether the property market would go up or down in 2010, but he remained confident that recovery would start the following year.
"Dubai's fundamentals are still strong. If you believe in Dubai, you should believe in Dubai's real estate sector. Because if Dubai is healthy, then the real estate sector will be as well," he added.
Meanwhile, property developer Asteco has reported that there has been a shift in the type of buyers purchasing property in the UAE.
Since the economic downturn, many investors have been avoiding the property market, but now British lifestyle buyers are taking their place.
US lead the way in distressed property listings
4 Mar 2010 at 12:00am
The number of distressed properties on the market is expected to continue to grow in 2010, with the US leading the way, according to a new report.
Figures, published by the Royal Institution of Chartered Surveyors (RICS) Global Distressed Property Monitor, show that during the fourth quarter 70 per cent of countries examined reported an increase in distressed sales.
Such findings may suggest that those keen on buying a property in the US will still have plenty of chances to pick up a foreclosed bargain.
Oliver Gilmartin, RICS senior economist, said: "It is the major real estate markets of the world, namely the US and Japan, where agents expect the strongest growth in distressed sales in the first quarter of 2010.
"With longer term borrowing costs set to move upwards over the course of 2010, there is the risk of a renewed increase in distressed property listings."
The rise in foreclosures within the US can be attributed to the economic climate and rising unemployment in the country.
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