News - Global Real Estate & Investment News from Propertyshowrooms.com
- Britons increase Spain emigration interest
- The number of Britons looking to emigrate to Spain has increased 12 per cent, according to new figures.
Data released by the Spanish government has revealed 352,000 Britons were registered as living in the country at the start of 2008, the Guardian reports....
- Bulgaria property a "good long-term bet"
- Property in Bulgaria will continue to offer good returns for investors making purchases in the country in 2009 it has been predicted.
According to Quest Bulgaria Property Magazine, returns will fall slightly from the average annual price increase of 30 per cent the country has been experiencing for the past five years, but will still remain a "good long-term bet" for those looking to invest....
- New York developments 'hit by credit crunch'
- A growing number of property developments in New York are being affected by the credit crunch, it has emerged.
Research has revealed projects worth approximately $5 million (£3.44 billion) have been either delayed or cancelled due to the lack of funding available to development firms....
- Dominican Republic emerges as top holiday destination
- The Dominican Republic has emerged as a popular destination for Britons looking to holiday further afield, new research has revealed.
According to findings from Thomson and First Choice, the country - along with the US state of Florida - is set to be one of the top long-haul destinations for holidaymakers over the coming 12 months....
- Brazil 'not experiencing a housing crisis'
- The current economic downturn is having less of an affect on Brazil's economy than that of other countries, it has been claimed.
According to Paulo Wrobel of the country's London embassy, Brazil is coping better during the credit crunch when compared to the US, the UK and Europe, as the banking system in the country is "quite sound"....
- Estonia investors should "hold out for three months"
- Investors considering buying property in Estonia have been advised to minimise their risk by holding off from making a purchase for the next few months.
Head of business development at Quintessentially Estates Lily Simpson stated that due to the current volatility of the economy, it is important that buyers take time to study the market....
- Bulgaria investors warned of off-plan risk
- Investors who purchase off-plan properties in Bulgaria may find their homes are never completed, one expert has warned.
According to Property Wire, executive director of building firm Green Life Nikolai Pehlivanov stated that low prices at a new site could be an indication that the developer is attempting to sell off a project that may remain unfinished....
- Bargains 'can still be found' in Bulgaria
- There are still a number of Bulgaria property locations that could provide bargains for investors, despite the current poor currency exchange rate, it has been suggested.
According to Bulgarian property magazine Quest, the country still offers a "good stock" of inexpensive property that may tempt buyers looking to invest in overseas property....
- Estonia property market 'could attract investors' in 2009
- Estonia has been identified as one country where overseas property investors could benefit in 2009.
Head of business development at Quintessentially Estates Lily Simpson explained that recent Knight Frank figures - which showed a 16 per cent fall in investment in the country over the last year - mean that investors are biding their time in order to move into the market at the right opportunity....
- Britons 'looking to sell' French property
- The number of Britons looking to sell French property is on the increase due to the declining value of the pound, it has been suggested.
According to the Times, many expatriates living in the country are looking to sell property and return to England as the fall in the pound against the Euro has resulted in the cost of living in the country increasing....
- Outlook downgraded for Dubai developer
- One of Dubai's largest property developers has seen its outlook downgraded by one financial market analysis firm.
Standard & Poor's has revised its view of Emaar Properties, moving it from stable to negative in the wake of the emirate's declining real estate market....
- Dubai developer announces waterfront site completion
- Construction of a new waterside property development in Dubai is now complete, it has been announced.
Cayan Investment and Development has finished its Dorrabay site at Dubai Marina - a AED350 million project which includes one, two and three-bedroom apartments, along with townhouses and duplexes....
- Abta highlights popular winter destinations
- UK consumers are choosing a variety of destinations for breaks over the Christmas and New Year period, research has revealed.
According to Abta - The Travel Association - countries such as Tenerife, Egypt, Turkey are all popular with winter travellers, many of whom are planning to leave the UK in order to spend time with their friends and family in a warmer climate over Christmas....
- Ski resorts to be 'less popular' in 2009
- The attraction of ski and snowboarding destinations could fall as consumers look to reduce their outgoings in the credit crunch, it has been claimed.
UK-based travel firm International Property Tribune has suggested that visits to destinations throughout the US and Europe are to decrease during 2009....
- California population tops 38 million
- California's population is continuing to increase, new figures released by the state's department of finance have revealed.
A demographic survey conducted by the body showed that July 1st 2008 saw the population of the west coast state surpass 38 million after growing by....
- Credit crunch 'impacting Australian development'
- The global financial downturn has resulted in construction projects worth more than AUD60 billion (GBP27.5 billion) being delayed throughout 2008, new figures have shown.
Statistics from Reed Construction Data revealed that over 3,400 developments - including apartment towers and office buildings - have been postponed, Property Wire reports....
- Dubai property 'one of the best' for investment
- Purchasing property in Dubai can be one of the best choices for those looking to make a long-term investment, it has been claimed.
According to London-based property advisor Mohammed Kashani-Akhavan, the current cancellation of development projects is likely to reduce supply, thus resulting in existing properties increasing in value in the future....
- Tour operator reveals popular Romania destinations
- Transylvania and the Carpathian mountains are two of Romania's most attractive locations, one tour operator has suggested.
According to Transylvania Live, this region of the country features a number of popular destinations, such as the Bran, Peles, Savarsin and Corvinesti castles....
- Dubai developers look to slow construction
- The global financial slowdown is forcing Dubai-based real estate developers to cut back on construction due to funding difficulties, it has emerged.
Many firms are putting jobs on hold until their financial situation improves, as well as implementing measures such as relaxed deadlines and payment plans for property purchasers....
- Fed rate cut 'could boost US mortgages'
- The US Federal Reserve has announced a cut in its main interest rate, a move which could make purchasing property in the country more affordable.
A reduction in the federal funds rate from one per cent to a target of between zero and 0....
- Romania rental supply 'will increase' in 2009
- Romania's residential and luxury property rental market is likely to increase to new highs in the coming year, it has been suggested.
Financiarul reports that real estate firm DTZ Echinox has cited a number of reasons for this prediction, including the fact that many people who already own an existing property in the country have purchased further housing for investment purposes....
- Orlando exhibition 'may attract foreclosure investors'
- Orlando is to host an event targeted at property investors looking to buying foreclosed homes in the Florida city, it has been announced.
Taking place at the International Plaza Resort & Spa on February 7th and 8th next year, the Orlando Foreclosures Expo will bring together investors and homeowners facing foreclosure, as well as real estate brokers, agents and wholesalers....
- Spain unveils 'extensive' infrastructure investment
- Spain is to invest EUR19 billion in infrastructure improvements as part of a EUR33 billion fund allocated to revive the country's economy, it has emerged.
According to the AFP, the country's prime minister Jose Luis Rodriguez Zapatero announced the investment - which will see EUR5 billion spent on environmental projects and EUR8 billion on local authorities - at a meeting of Socialist mayors....
- Abu Dhabi property values 'will remain high'
- Property in Abu Dhabi is set to buck the trend of slowing growth in the UAE market by rising in the short-term, a new report has concluded.
According to the Citigroup research, values in the emirate will remain high, partly because Abu Dhabi's amassed wealth means finance for current development projects will not run out....
- French Riviera to get cruise venue boost
- The French Riviera is set to benefit from the opening of new cruise venues, it has emerged.
French Riviera Cruise Club president Alain Gumiel made the comments as he noted that Cannes is set to host the 2010 Seatrade Med Exhibition, stating: "2009 will be an exciting year for cruise business, [with] two new opening destinations with the Ports of Golfe Juan and Antibes....
- Property investors 'should fix eurozone exchange rate'
- Property investors considering making purchases in the eurozone have been advised to fix an exchange rate as soon as they have agreed to buy a property.
Speaking to the Times, James Hickman, managing director of currency firm Caxton FX, explained that this means the rate will not change regardless of the date on which payments are due, a factor which could be beneficial considering the recent fall in value of sterling against the euro....
- Spain property "more popular than previously thought"
- Spain has emerged as the most popular overseas property destination among English-speaking internet users, a new survey has revealed.
Research by Globaledge analysed Google searches for overseas property made during September 2008 and found that queries regarding Spain and its towns and regions emerged a clear favourite, beating second-placed France by a ratio of over two to one....
- Australian new builds 'set to decrease'
- Construction of new build homes in Australia is set to cool over the next year, new data from the Royal Institution of Chartered Surveyors (Rics) has revealed.
Investors may be keen to buy property in the country in the current climate as, according to Rics, the residential sector is slowing and builder confidence may be knocked, meaning fewer new houses in 2009....
- Mortgage applications 'increase' in US
- There are signs that the US property market is beginning to recover, despite the outlook being "still relatively gloomy", one report has stated.
According to the Royal Institution of Chartered Surveyors' Global Real Estate Weekly publication, recent government intervention and relaxation of lending criteria is boosting mortgage applications in the country, a trend which builders may see as an indication that demand for property is set to increase....
- Malaysia market 'still attracting investors'
- Overseas investment in the Malaysian property market is remaining strong despite the current economic climate, it has been suggested.
Chief executive officer of TH Properties Zaharuddin Saidon made the claim at the launch of a new property organisation in the country, The Edge Daily reports....
- Buyers taking advantage of "bargain" Spanish prices
- The recent economic downturn has resulted in a shift in the demographic of buyers purchasing property in Spain, one real estate agent has claimed.
Speaking to Property Wire, Mercers stated that in 2008 is has managed to improve on sales figures from last year by offering property at "bargain" prices....
- Property magazine issues Bulgaria buying advice
- A Bulgaria property magazine has issued "essential information" for those looking to purchase homes in the country.
According to Quest Bulgaria, real estate agents in the eastern European country are not regulated, so buyers need to ensure they act cautiously when acquiring a property....
- Australian property 'attracting investor interest'
- More than AUS120 million of residential property in the New South Wales region of Australia has been sold by one real estate group in the last two months, it has emerged.
Speaking to the Australian, Brett Draffen of Mirovac Group explained that while many of the buyers have been movers operating in the lower price bracket, there has also been an increase in investor activity....
- Investors 'must be aware of changing French laws'
- French officials are failing to advise property investors about the introduction of new risk plans that could affect those looking to make purchases in the country.
Plan de Prevention des Risques - regional and local risk plans - are being prepared across the country but many investors are not being made aware of the potential changes, Property Wire has claimed....
- Financial crisis 'impacting Dubai market'
- The sharp fall in property prices in some areas of Dubai has been caused by a failure of the emirate's financial system, one real estate manager has stated.
Speaking to Property Wire, chief executive of the Dubai-based Sweet Homes Group Fahad Sattar Dero explained that sales in the sector will resume once the uncertainty surrounding the finance system is removed....
- Brazil "popular" with overseas investors
- An analyst at one property firm has backed claims by US billionaire Sam Zell that the Brazil property market currently offers one of the best opportunities for investors.
Liam Bailey of Property Abroad announced his of support Mr Zell's recent comments - which saw him describe the South American country as "the best" for overseas investors - by stating that the market in Brazil has remained "strong" in spite of the credit crunch....
- 'Reasons for optimism' in Spanish market
- There are reasons to be optimistic about the state of the Spanish property market in 2009 after a difficult 12 months, it has been claimed.
Speaking to Property Wire, Mike Hamilton of Spain-based property developers Casas de Lorca explained that the "love affair" Britons have with the country will cause sales of property in Spain to improve once again over the next year....
- Palma's "great location" could attract investors
- The Mallorcan capital of Palma could be an ideal location for property buyers looking to make investments abroad, one newspaper has claimed.
According to the Times, the city's "great location" and "fantastic climate" make it attractive to investors, including London lawyer Julian Harris, who recently purchased two more flats after buying his first property in the city five years ago....
- Australia rate cut creates "once in a generation" opportunity
- The recent interest rate cut in Australia means that investors considering purchasing property in the country should do so now, one property expert has stated.
Monique Sasson Wakelin, director of Wakelin Property Advisory, told Homes Overseas that the property market in the country has bottomed out and is now starting to see growth....
- Lisbon 'has investor benefits'
- Lisbon has been identified as one area that may attract property investors disinterested in the popular European destinations.
According to the Times, the Portuguese capital has "undergone a huge transformation" over the past ten years, with new developments and the regeneration of old buildings helping to change the face of the city....
- Interest rate cut 'affecting French investment opportunities'
- Those considering purchasing property in France are likely to find doing so much more costly due to the current weak pound, it has been claimed.
Gary Field of foreign exchange firm RationalFX explained that the recent cut in UK interest rates to two per cent will have an impact on the exchange rate, making properties in France more expensive to purchase than they were at the start of the year....
- Southern Italy offers "strong rental potential"
- Southern Italy is set to see a wave of activity in the property market over the coming months despite the credit crunch, it has been claimed.
Incalabria, a property firm specialising in the region, stated that despite the economic downturn, there is no shortage of buyers looking to purchase property....
- Morocco set for 'tourism boost'
- Tourism in Morocco is still on the increase despite the global economic slump, the country's tourism minister has stated.
Speaking to Deutsche Presse-Agentur, Mohammed Boussaid said that the country is preparing itself for an influx of tourists from Europe as holidaymakers opt for the country over more expensive, far-flung destinations....
- Dubai experiencing property price fall
- Some areas of Dubai are experiencing a 40 per cent fall in property prices, new research has revealed.
Property Wire reports that while prices are rising slightly overall, homes in areas such as Palm Jumeirah and Burj Dubai are dropping in value, by as much as 40 and 30 per cent respectively....
- Dubai law changes 'will benefit investors'
- Recent changes to Dubai property real estate laws are "perfect" for reinstating investor confidence in the emirate, it has been claimed.
According to the Middle Eastern Real Estate Consultants (Merec) the new laws will help allay any fears investors have when considering buying property in Dubai....
- Algarve appeal 'extends beyond golf'
- The appeal of the Algarve extends beyond the wealth of golf courses it has to offer, a golf tourism spokesperson has stated.
Golf International's David Brice explained that although the region offers over 30 courses to budding players, it is also home to a range of cultural, historical and scenic attractions....
- Figures show increase in Cyprus interest
- Cyprus has emerged as the leading country among investors considering purchasing overseas property, one expert has claimed.
David Bexon, managing director of property portal smartnewhomes.com, explained that the number of people searching his website for overseas homes jumped by 45 per cent between July and September of this year....
- France and Spain 'popular with expat visitors'
- New research has shown that those who live as expats in France and Spain are most likely to enjoy family visits.
A study by Alliance & Leicester has found that a quarter of expats have regular visits from family and friends, with the best turnout being enjoyed by those dwelling in France, who get an average of ten such visitors each year....
- Brazil property 'offers investment potential'
- The potential for those investing in Brazilian property to see good returns is significant, it has been argued.
According to Property Bond International, the country's economy is continuing to grow despite the global economic downturn....
- Italy popularity increases as investors "play it safe"
- Italy is becoming an increasingly popular destination among buyers looking to purchase property overseas, one property portal has claimed.
Liam Bailey, chief market analyst at Property Abroad, noted that the country is now the sixth most popular destination for buyers, having climbed two places in the website's top ten list over the last two weeks....