Owners of Spanish holiday flats are likely to travel there for the Christmas holidays, according to experts.The Association of British Travel Agents (ABTA) stated that Spain was one of the most popular tourist destinations during the festive season, mainly because many people owned property there.In addition, the good weather during the winter months was also said to be an attractive quality, especially in places such as the Canary Islands.Frances Tuke, a spokesperson for ABTA, said: "They're a year-round destination, with temperatures always in the 70s."She added that Costa del Sol was also a highly popular region, since it also offered a much better climate than the UK over Christmas.This follows recent research by Yorkshire Bank which found that 43 per cent of Britons were considering buying a place in the sun.Spain was found to be the most popular destination among prospective buyers, in particular the Costa Blanca and the Costa del Sol.
Cheers!
Thursday 25 September 2008
Tuesday 23 September 2008
Tourists 'flock to Catalonia'
Catalonia has benefited from a massive influx of tourists since the introduction of cheap flights to the region, an airline has said.
Budget carrier Ryanair stated that since it began offering services to Spain in 2002, it has transported almost 13 million people to Girona and Reus.
The firm added that since it provided transport at a relatively low cost, tourists were able to save a collective total of more than €1 billion.
Michael O'Leary, chief executive of Ryanair, stated that Catalonia had benefited as a result since tourists had more money to spend while on holiday in the area.
He also said that new flights to the region would be announced soon, potentially boosting tourism and overseas property investment in the region.
Mr O'Leary commented: "At the end of this month, we look forward to bringing even more of Ryanair's guaranteed lowest fares to Catalan passengers, when we launch 14 new routes from Girona."
The introduction of new flights is likely to lead to extra interest in the region among foreign flats & houses buyers.
Earlier this month, the Telegraph recommended that overseas property investors look at airline routes to identify potential growth markets.
Take it easy mates! Keep going!
Budget carrier Ryanair stated that since it began offering services to Spain in 2002, it has transported almost 13 million people to Girona and Reus.
The firm added that since it provided transport at a relatively low cost, tourists were able to save a collective total of more than €1 billion.
Michael O'Leary, chief executive of Ryanair, stated that Catalonia had benefited as a result since tourists had more money to spend while on holiday in the area.
He also said that new flights to the region would be announced soon, potentially boosting tourism and overseas property investment in the region.
Mr O'Leary commented: "At the end of this month, we look forward to bringing even more of Ryanair's guaranteed lowest fares to Catalan passengers, when we launch 14 new routes from Girona."
The introduction of new flights is likely to lead to extra interest in the region among foreign flats & houses buyers.
Earlier this month, the Telegraph recommended that overseas property investors look at airline routes to identify potential growth markets.
Take it easy mates! Keep going!
Monday 15 September 2008
European markets 'appeal to Russian buyers'
Russian property investors are continuing to purchase property in other European countries, a media report has said.
According to Russia Profile, many overseas buyers are choosing flats & houses to enter the Spanish property market, while Cyprus has also proved to be a popular choice.
The news provider attributed their popularity to several factors, such as the good infrastructure in these countries, as well as the safety and quality of the property itself.
In addition, the markets were praised for offering affordable house prices, meaning that many considered a foreign purchase better value for money than an investment in Russia.
The news portal added that these countries were popular with different groups of people, including both middle-class buyers and "super-wealthy" Russians.
According to a recent study by Yorkshire Bank, many prospective buyers want to enter the Spanish property market in order to enjoy its warm weather.
Cheers!
According to Russia Profile, many overseas buyers are choosing flats & houses to enter the Spanish property market, while Cyprus has also proved to be a popular choice.
The news provider attributed their popularity to several factors, such as the good infrastructure in these countries, as well as the safety and quality of the property itself.
In addition, the markets were praised for offering affordable house prices, meaning that many considered a foreign purchase better value for money than an investment in Russia.
The news portal added that these countries were popular with different groups of people, including both middle-class buyers and "super-wealthy" Russians.
According to a recent study by Yorkshire Bank, many prospective buyers want to enter the Spanish property market in order to enjoy its warm weather.
Cheers!
Interest rates, and growth, on hold
The direction of the economy will become clearer this week, as the size of the national slowdown is quantified and interest rates are left on hold.
The Reserve Bank meeting tomorrow is likely to be a short-lived affair, with the futures market pricing the chance of a move higher in official interest rates at less than 5%.
The prospect has emerged that the RBA's tightening cycle has ended, after 12 rises in six years and evidence the economy has hit a speed bump.
The economic data is pointing clearly at the moment to a marked slowdown of the economy being under way. It's a question, however, as to whether the cooling of the economy has gone too far.
The gross domestic product numbers for the first quarter, published on Wednesday, will show just a mild expansion of economic growth although there is some thinking among economists that a contraction could have occurred.
The majority of market economists are likely to adjust their calls today after retail sales and inventory numbers are released.
Flats 4 Midgets wish you luck!
The Reserve Bank meeting tomorrow is likely to be a short-lived affair, with the futures market pricing the chance of a move higher in official interest rates at less than 5%.
The prospect has emerged that the RBA's tightening cycle has ended, after 12 rises in six years and evidence the economy has hit a speed bump.
The economic data is pointing clearly at the moment to a marked slowdown of the economy being under way. It's a question, however, as to whether the cooling of the economy has gone too far.
The gross domestic product numbers for the first quarter, published on Wednesday, will show just a mild expansion of economic growth although there is some thinking among economists that a contraction could have occurred.
The majority of market economists are likely to adjust their calls today after retail sales and inventory numbers are released.
Flats 4 Midgets wish you luck!
Monday 8 September 2008
Australia: Homes sacrificed for city's future
Politicians expressed sympathy for northside residents facing resumptions as the State Government rolls out the large Airport Link and Northern Busway projects through Kedron and Windsor.
Premier Anna Bligh said she understood the distress faced by extra residents waking up yesterday morning to find they would lose their homes.
"It is very difficult when we are putting in place major pieces of infrastructure," Ms Bligh said.
"I have complete sympathy with those people who will be losing their homes as a result of this project," she said.
"I ask them to understand the challenge that government faces as we make sure that we have the roads we need for the future."
She defended the information being given to residents yesterday morning.
"It is just not possible in a city like Brisbane to build what we need without having some effect on people's houses and flats," Ms Bligh said.
"Where that happens we will treat people fairly."
Lord Mayor Campbell Newman said he understood the difficulties faced by residents.
"What I understand is - and I can only go on what I have been briefed on - that there will be some widening of Stafford Road for a block from Gympie Road, west towards Stafford City," Cr Newman said.
Cheers!
Premier Anna Bligh said she understood the distress faced by extra residents waking up yesterday morning to find they would lose their homes.
"It is very difficult when we are putting in place major pieces of infrastructure," Ms Bligh said.
"I have complete sympathy with those people who will be losing their homes as a result of this project," she said.
"I ask them to understand the challenge that government faces as we make sure that we have the roads we need for the future."
She defended the information being given to residents yesterday morning.
"It is just not possible in a city like Brisbane to build what we need without having some effect on people's houses and flats," Ms Bligh said.
"Where that happens we will treat people fairly."
Lord Mayor Campbell Newman said he understood the difficulties faced by residents.
"What I understand is - and I can only go on what I have been briefed on - that there will be some widening of Stafford Road for a block from Gympie Road, west towards Stafford City," Cr Newman said.
Cheers!
Friday 5 September 2008
Spain offers stress-free move
Spain is one of the least stressful countries to move to, according to research from the currency company HiFX.
South Africa meanwhile, is the most stressful country to make the change to, closely followed by the US and Australia.
Moving abroad isn't just about moving your belongings and pursuing a new lifestyle.
Decamping to a different country means getting to grips with a whole new way of living - from the language you'll be speaking, to the money you'll be spending. And we live in flats, not in houses like you, Brits.
Lack of understanding about how crucial systems like tax and law work in a foreign country could lead to problems for an emigre.
Each year more than 385,000 people emigrate from the UK.
There are approximately 761,000 Brits currently living in Spain according to the Institute for Public Policy Research.
Cheers & take care!
South Africa meanwhile, is the most stressful country to make the change to, closely followed by the US and Australia.
Moving abroad isn't just about moving your belongings and pursuing a new lifestyle.
Decamping to a different country means getting to grips with a whole new way of living - from the language you'll be speaking, to the money you'll be spending. And we live in flats, not in houses like you, Brits.
Lack of understanding about how crucial systems like tax and law work in a foreign country could lead to problems for an emigre.
Each year more than 385,000 people emigrate from the UK.
There are approximately 761,000 Brits currently living in Spain according to the Institute for Public Policy Research.
Cheers & take care!
Tuesday 2 September 2008
i-Phone, hitting the Indian market
The eagerly awaited Apple iPhone has finally hit the Indian market. But there are a number of challenges that it may face in the market. Not just Apple, but its Indian Retail partners—Bharti Airtel and Vodafone—will have to play their roles to perfection for their customers to enjoy the iPhone. India is amongst the few markets where the partner telcos are spending huge sums training thousands of their employees to activate the iPhone. This because, unlike their western counterparts, Indian customers cannot be expected to activate the phone online. Low internet and PC penetration is a roadblock here and even amongst those in metros and large cities who own PCs, only a small minority has Apple’s iTunes on their systems. The other catch is slow internet speeds which can frustrate users attempting to download the iTunes.
“We have trained over 3,000 employees across 41 locations and 400 stores in the top 45 cities to help activate the iPhone. We have also trained a large number of our call centre executives who will help our customers activate the iPhone,” explains Bharti Airtel president for mobility Sanjay Kapoor. Mr Kapoor added that it would take customers about five minutes to activate the iPhone at Bharti’s retail outlets. Ditto to Vodafone, which has gone a step further and even given appointments at its retail outlets to its customers who have booked the iPhone to help them activate and use the device.
Buying a phone, worst than buying flats... Cheers!
“We have trained over 3,000 employees across 41 locations and 400 stores in the top 45 cities to help activate the iPhone. We have also trained a large number of our call centre executives who will help our customers activate the iPhone,” explains Bharti Airtel president for mobility Sanjay Kapoor. Mr Kapoor added that it would take customers about five minutes to activate the iPhone at Bharti’s retail outlets. Ditto to Vodafone, which has gone a step further and even given appointments at its retail outlets to its customers who have booked the iPhone to help them activate and use the device.
Buying a phone, worst than buying flats... Cheers!
Wednesday 27 August 2008
Airline announces new Spanish flights
A Spanish airline has announced that it is to extend its range of services to Scotland next year.
Clickair stated that following a successful trial run of flights between Barcelona and Edinburgh, it will open up new routes to business and leisure travellers.
Although the move is primarily designed to encourage Spaniards to take holidays in Spain, the new services are likely to have the reverse effect as well, potentially adding to the country's appeal among overseas property investors (new flats, houses, villas...)
Alex Cruz, founder of Clickair, commented: "We were taken aback by the great response to this particular route. It has definitely caught our attention."
The new Edinburgh to Barcelona service will begin operating four times a week before the end of the year, although this is expected to increase to a daily route in 2008.
Meanwhile, Clickair stated that it was considering introducing another flight to Spain from Glasgow International Airport.
14 per cent of those who were thinking of buying a second home abroad had considered the Spanish market.
Cheers mates!
Clickair stated that following a successful trial run of flights between Barcelona and Edinburgh, it will open up new routes to business and leisure travellers.
Although the move is primarily designed to encourage Spaniards to take holidays in Spain, the new services are likely to have the reverse effect as well, potentially adding to the country's appeal among overseas property investors (new flats, houses, villas...)
Alex Cruz, founder of Clickair, commented: "We were taken aback by the great response to this particular route. It has definitely caught our attention."
The new Edinburgh to Barcelona service will begin operating four times a week before the end of the year, although this is expected to increase to a daily route in 2008.
Meanwhile, Clickair stated that it was considering introducing another flight to Spain from Glasgow International Airport.
14 per cent of those who were thinking of buying a second home abroad had considered the Spanish market.
Cheers mates!
Tuesday 26 August 2008
Australia: House the poor by taxing sales
The 2020 summit held by the Prime Minister last weekend debated Australia's future economic and social directions, including social and community housing and affordability.
World Vision chief executive Reverend Tim Costello said we need more public funding for housing saying only about 6% of the nation's housing is publicly provided compared to a much higher level in other countries. Given this low level of public housing, the increasing rates of homelessness and historically low rental vacancy rates there is obviously a need for the Government to take action.
And with the historically high revenues from stamp duties in the states, Mr Costello suggested that 0.5% of the sale price of every flats should go into a national foundation to contribute to public and social housing and to deal with homelessness. On a median-priced Melbourne house this would be about $2500.
All states and territories provide community housing in different ways, however, the idea of linking property tax directly to providing social and community housing holds merit and is worthy of greater investigation.
A key recommendation from the summit is for the Federal Government to review state and federal taxes with the aim of simplifying them, reducing inefficient taxes and harmonising them. It would enable the collection and use of stamp duty to be examined in the tax mix.
The REIV looks forward to the Government accepting this recommendation and initiating a program to increase funding for public housing.
Cheers mates, best wishes!
World Vision chief executive Reverend Tim Costello said we need more public funding for housing saying only about 6% of the nation's housing is publicly provided compared to a much higher level in other countries. Given this low level of public housing, the increasing rates of homelessness and historically low rental vacancy rates there is obviously a need for the Government to take action.
And with the historically high revenues from stamp duties in the states, Mr Costello suggested that 0.5% of the sale price of every flats should go into a national foundation to contribute to public and social housing and to deal with homelessness. On a median-priced Melbourne house this would be about $2500.
All states and territories provide community housing in different ways, however, the idea of linking property tax directly to providing social and community housing holds merit and is worthy of greater investigation.
A key recommendation from the summit is for the Federal Government to review state and federal taxes with the aim of simplifying them, reducing inefficient taxes and harmonising them. It would enable the collection and use of stamp duty to be examined in the tax mix.
The REIV looks forward to the Government accepting this recommendation and initiating a program to increase funding for public housing.
Cheers mates, best wishes!
Friday 22 August 2008
Domestic hotel chains increasing footprint
The continued growth of the tourism sector has led three of the leading domestic hotel chains — The Indian Hotels Co Ltd (which owns the Taj brand), ITC Ltd (with its Welcomgroup chain) and EIH Ltd (Trident brand) — to confidently increase their footprint.
These three companies are developing properties or have signed management contracts for hotels that will open in the next year or two. They are also refurbishing some of their existing hotels. Indian Hotels Company said that in 2007-08 it made commitments by way of acquiring properties on lease, entering into tie-ups for equipping hotels being built by partners and executing a number of management and technical services contracts.
ITC has said that construction is progressing as scheduled on super luxury hotels in Bangalore and Chennai. Six blocks of flats are under development under the Welcom Heritage brand. In its annual report, EIH has said that in the next three years, at least 10 hotels will be opened in India and abroad. Construction on a 440-room Trident in Bandra-Kurla in Mumbai was underway and the hotel would open in the third quarter of this financial year. Construction on an Oberoi luxury hotel at Gurgaon, which EIH would manage, was on schedule and this would open in 2009.
According to their annual reports, foreign tourist arrivals went up 12 per cent to close to 5 million in 2007-08. The first four months of 2008, according to Indian Hotels Company’s annual report, recorded an 11.9 per cent growth in tourist arrivals at just over two million, over the corresponding period in 2007. Thanks to this growth in the tourism industry, the hospitality industry benefited with occupancy rates in hotels at close to 80 per cent and room rates going up by 22-25 per cent, in 2007-08.
Cheerio!
These three companies are developing properties or have signed management contracts for hotels that will open in the next year or two. They are also refurbishing some of their existing hotels. Indian Hotels Company said that in 2007-08 it made commitments by way of acquiring properties on lease, entering into tie-ups for equipping hotels being built by partners and executing a number of management and technical services contracts.
ITC has said that construction is progressing as scheduled on super luxury hotels in Bangalore and Chennai. Six blocks of flats are under development under the Welcom Heritage brand. In its annual report, EIH has said that in the next three years, at least 10 hotels will be opened in India and abroad. Construction on a 440-room Trident in Bandra-Kurla in Mumbai was underway and the hotel would open in the third quarter of this financial year. Construction on an Oberoi luxury hotel at Gurgaon, which EIH would manage, was on schedule and this would open in 2009.
According to their annual reports, foreign tourist arrivals went up 12 per cent to close to 5 million in 2007-08. The first four months of 2008, according to Indian Hotels Company’s annual report, recorded an 11.9 per cent growth in tourist arrivals at just over two million, over the corresponding period in 2007. Thanks to this growth in the tourism industry, the hospitality industry benefited with occupancy rates in hotels at close to 80 per cent and room rates going up by 22-25 per cent, in 2007-08.
Cheerio!
Wednesday 20 August 2008
Spain still popular with holiday home owners
Spain is one of the most popular destinations for overseas property buyers, according to experts.
Barclays stated that consumers were increasingly showing interest in entering the Spanish market, while Italy was also named as a highly sought-after destination.
The firm highlighted many of the benefits of owning property in these countries, such as using it as a holiday home and lending it out to friends and relatives.
Research by Barclays found that two-fifths of Britons had taken a holiday at flats or houses abroad that was owned by someone they knew.
Brits are realising the savings that can be made on holidays by purchasing property abroad.
The overseas property market was "flourishing" and that buying abroad was now "easier than ever before".
The Spanish property market was "booming" and experiencing very high demand from overseas investors.
Keep it going! Do not surrender!!!
Cheers!
Barclays stated that consumers were increasingly showing interest in entering the Spanish market, while Italy was also named as a highly sought-after destination.
The firm highlighted many of the benefits of owning property in these countries, such as using it as a holiday home and lending it out to friends and relatives.
Research by Barclays found that two-fifths of Britons had taken a holiday at flats or houses abroad that was owned by someone they knew.
Brits are realising the savings that can be made on holidays by purchasing property abroad.
The overseas property market was "flourishing" and that buying abroad was now "easier than ever before".
The Spanish property market was "booming" and experiencing very high demand from overseas investors.
Keep it going! Do not surrender!!!
Cheers!
Monday 11 August 2008
Tips 4 Brits
Prospective investors in overseas property have been advised to consult a specialist before entering into a transaction.
It was often assumed that property owned abroad was not subject to the British tax regime.
However, as an asset owned by a registered UK citizen, it could still form part of a person's estate and therefore make them liable to pay inheritance tax.
Taking professional advice can help to minimise the impact of these taxes.
Many factors had contributed to the surge in the number of Britons moving overseas, such as rapid flats price inflation in the UK and the weather.
The comments follow the release of official figures showing that during the year to July 2006, 385,000 people left the UK to live in countries such as Spain.
Cheerio!
Flatiron lov€$ you!
It was often assumed that property owned abroad was not subject to the British tax regime.
However, as an asset owned by a registered UK citizen, it could still form part of a person's estate and therefore make them liable to pay inheritance tax.
Taking professional advice can help to minimise the impact of these taxes.
Many factors had contributed to the surge in the number of Britons moving overseas, such as rapid flats price inflation in the UK and the weather.
The comments follow the release of official figures showing that during the year to July 2006, 385,000 people left the UK to live in countries such as Spain.
Cheerio!
Flatiron lov€$ you!
Sunday 10 August 2008
Agreement between Spaniards and Brits: Costa Blanca
The Costa Blanca region is the most popular domestic holiday spot with Spanish nationals, official statistics have shown.
The area has overtaken the Costa del Sol as the first-choice holiday option for the country's residents.
The news provider added that the number of Spanish tourists staying in hotels in Costa Blanca was higher than the amount that had booked in both Barcelona and Madrid combined.
This could represent good news for overseas property investors, as they could offer accommodation to holidaymakers as flats, houses, villas, etc.
Furthermore, the region was also said to be highly popular with British tourists, as the Typically Spanish website highlighted a "recovery" in the number of people coming from the UK.
Specifically, the figures showed that more Britons were visiting the Costa Blanca out of season.
Costa Blanca is waiting 4 you Brits!
The area has overtaken the Costa del Sol as the first-choice holiday option for the country's residents.
The news provider added that the number of Spanish tourists staying in hotels in Costa Blanca was higher than the amount that had booked in both Barcelona and Madrid combined.
This could represent good news for overseas property investors, as they could offer accommodation to holidaymakers as flats, houses, villas, etc.
Furthermore, the region was also said to be highly popular with British tourists, as the Typically Spanish website highlighted a "recovery" in the number of people coming from the UK.
Specifically, the figures showed that more Britons were visiting the Costa Blanca out of season.
Costa Blanca is waiting 4 you Brits!
Spain a lifestyle destination with affordable properties
Overseas property investors have been advised that Spain offers a wide choice of flats at affordable prices.
Spain is ideal for different types of buyers, such as those purchasing a holiday home and people who wanted an investment property.
He highlighted many of the attractions of the Spanish market, such as its good climate for 12 months of the year and outstanding natural beauty.
In addition, he said that Spain also had much to recommend it to city dwellers, as its major urban settlements were some of the most "sophisticated" cities in the world.
Although the vast majority of tourists and residents come to Spain to laze about on the beach, there's much more to the country than the coastal resorts and island entertainment.
This comes after Spain was recently praised by UK newspaper the Telegraph, which said that it had become a "lifestyle destination" for British property buyers.
Cheers!
Spain is ideal for different types of buyers, such as those purchasing a holiday home and people who wanted an investment property.
He highlighted many of the attractions of the Spanish market, such as its good climate for 12 months of the year and outstanding natural beauty.
In addition, he said that Spain also had much to recommend it to city dwellers, as its major urban settlements were some of the most "sophisticated" cities in the world.
Although the vast majority of tourists and residents come to Spain to laze about on the beach, there's much more to the country than the coastal resorts and island entertainment.
This comes after Spain was recently praised by UK newspaper the Telegraph, which said that it had become a "lifestyle destination" for British property buyers.
Cheers!
Tuesday 5 August 2008
Spanish investors should pick a good location
People planning to invest in Spanish property have been advised to pick flats in a viable location.
Brittney Jackline, author and real estate expert, said that investors had to pick a property that was located in an accessible area.
In addition, she stated that overseas investors also needed to consider other issues including how near the property was to important amenities, such as shops and hospitals.
She commented: "Spain has a number of unique locations to choose from and the investor/buyer will have a variety of option to consider before finally investing."
Ms Jackline added that the Spanish property market was currently "booming" and experiencing very high demand from overseas investors.
She partly attributed this to the country's global international prominence in the sporting world, as next year's European Grand Prix is being staged in Valencia, therefore raising the profile of the area.
I'm still waiting 4 your advices and commentaries...
Cheers!
Brittney Jackline, author and real estate expert, said that investors had to pick a property that was located in an accessible area.
In addition, she stated that overseas investors also needed to consider other issues including how near the property was to important amenities, such as shops and hospitals.
She commented: "Spain has a number of unique locations to choose from and the investor/buyer will have a variety of option to consider before finally investing."
Ms Jackline added that the Spanish property market was currently "booming" and experiencing very high demand from overseas investors.
She partly attributed this to the country's global international prominence in the sporting world, as next year's European Grand Prix is being staged in Valencia, therefore raising the profile of the area.
I'm still waiting 4 your advices and commentaries...
Cheers!
Sunday 27 July 2008
GB house price boom aiding Spanish & Italian property market
Affordability problems in the UK could be providing a boost to the overseas property market, an expert has suggested.
Beth Collingz from Pacific Concord Properties said that since many young people could not afford to buy a property in Britain, some were opting to invest in homes abroad instead.
She stated that these people were continuing to live in rented accommodation in the UK, while saving the money generated from rental income.
The total gained from tenants, holidaymakers and the capital appreciation of the building could then be used to make up the shortfall in Britain and allow them to buy a home or flats.
Ms Collingz commented: While land and housing prices in the U.K. have soared astronomically in the past decade, the world real estate market is a far different story.
The average property in the UK now costs about £225,100, making it more expensive than countries such as Spain and Italy.
Let's invest mates!
Cheers
Beth Collingz from Pacific Concord Properties said that since many young people could not afford to buy a property in Britain, some were opting to invest in homes abroad instead.
She stated that these people were continuing to live in rented accommodation in the UK, while saving the money generated from rental income.
The total gained from tenants, holidaymakers and the capital appreciation of the building could then be used to make up the shortfall in Britain and allow them to buy a home or flats.
Ms Collingz commented: While land and housing prices in the U.K. have soared astronomically in the past decade, the world real estate market is a far different story.
The average property in the UK now costs about £225,100, making it more expensive than countries such as Spain and Italy.
Let's invest mates!
Cheers
Friday 25 July 2008
Demand holds despite rising rates
Yesterday's clearance rate was 63% for 464 auctions. This is up 1% on last Saturday, which had fallen 4% from the previous weekend.
"The fact that the remaining banks have increased their rates this week certainly hasn't provided any help to the market, but (activity) hasn't dropped as much as it could have," said Enzo Raimondo, chief executive of the Real Estate Institute of Victoria.
One of the highest prices paid yesterday was for 98 Rowell Avenue, Camberwell, which sold for $1,291,000, or 17% more than the reserve. The four-bedroom family house attracted four bidders, with strong enough competition for it to open at $1.05 million and sail easily past the reserve at $1.1 million.
"It went to a couple who had seen the property for the first time (that day)," said Hocking Stuart director Glen Coutinho.
Hocking Stuart reported a clearance rate of 63% for the 54 auctions held across its network yesterday, with five returning results of more than $1 million.
A vendor bid of $300,000 opened the auction of 12/37 Wheatland Road, Malvern, with competition between five bidders strong enough for the one-bedroom unit to sell for $368,000. Richard Wakelin, director of Wakelin Property Advisory, said the property had been declared on the market by RT Edgar for $38,000 less.
Cheers mates
"The fact that the remaining banks have increased their rates this week certainly hasn't provided any help to the market, but (activity) hasn't dropped as much as it could have," said Enzo Raimondo, chief executive of the Real Estate Institute of Victoria.
One of the highest prices paid yesterday was for 98 Rowell Avenue, Camberwell, which sold for $1,291,000, or 17% more than the reserve. The four-bedroom family house attracted four bidders, with strong enough competition for it to open at $1.05 million and sail easily past the reserve at $1.1 million.
"It went to a couple who had seen the property for the first time (that day)," said Hocking Stuart director Glen Coutinho.
Hocking Stuart reported a clearance rate of 63% for the 54 auctions held across its network yesterday, with five returning results of more than $1 million.
A vendor bid of $300,000 opened the auction of 12/37 Wheatland Road, Malvern, with competition between five bidders strong enough for the one-bedroom unit to sell for $368,000. Richard Wakelin, director of Wakelin Property Advisory, said the property had been declared on the market by RT Edgar for $38,000 less.
Cheers mates
Saturday 12 July 2008
Banks hit us hard, but we lap it up
Official home loan figures released by the Bureau of Statistics show the share of new loans being signed with banks struck a decade-high 83.6 per cent in January - the first month banks began adding their own sting to official rate rises.
The shift by borrowers towards banks came amid calls by the federal Treasurer, Wayne Swan, for customers to "vote with their feet" if they did not like the interest rate rise set by their lenders.
It was impossible to tell from the figures whether customers were switching between banks, but it was clear they were not switching to non-bank lenders.
Perhaps people are also a little bit worried about the issues of the non-bank lenders and the credit crunch problems.
The latest rises mean there is now no common variable rate. ANZ and St George have the highest standard rate, 9.37 per cent, followed by Commonwealth on 9.32 per cent and NAB and Westpac on 9.27 per cent.
Mr Swan said that customers would reward banks that best shielded them from increased interests flats costs flowing from the US subprime crisis. Banks which don't act in a way which their customers think is reasonable will now run a greater risk of losing customers.
The shift by borrowers towards banks came amid calls by the federal Treasurer, Wayne Swan, for customers to "vote with their feet" if they did not like the interest rate rise set by their lenders.
It was impossible to tell from the figures whether customers were switching between banks, but it was clear they were not switching to non-bank lenders.
Perhaps people are also a little bit worried about the issues of the non-bank lenders and the credit crunch problems.
The latest rises mean there is now no common variable rate. ANZ and St George have the highest standard rate, 9.37 per cent, followed by Commonwealth on 9.32 per cent and NAB and Westpac on 9.27 per cent.
Mr Swan said that customers would reward banks that best shielded them from increased interests flats costs flowing from the US subprime crisis. Banks which don't act in a way which their customers think is reasonable will now run a greater risk of losing customers.
Thursday 10 July 2008
Real Estate Prices hit Adidas India Plans
Expansion plans of footwear and apparel major Adidas India has been hit by high real estate prices ruling in the country, a company official said.
Adidas India Marketing Private Ltd’s Managing director Andreas Gellner told reporters, “Rise in real estate prices has been affecting our growth plans in India”.
The company’s was planning to increase the number of retail stores from 325 at present to 450 by the end of 2008. It operates the stores through franchisee route.
Talking about real estate prices, he said that the prevailing rentals were not realistic. Typically, the flats rentals should be around 15-17 per cent of turnover per square feet.
However, the rentals at the moment were more than 20 per cent per square feet. In some cases it was around 40 per cent per square feet, he said.
Gellner said Adidas was not keen to spend that high an amount since the brand was not new to India. “We are in India for the last 13 years.”
Adidas India Marketing Private Ltd’s Managing director Andreas Gellner told reporters, “Rise in real estate prices has been affecting our growth plans in India”.
The company’s was planning to increase the number of retail stores from 325 at present to 450 by the end of 2008. It operates the stores through franchisee route.
Talking about real estate prices, he said that the prevailing rentals were not realistic. Typically, the flats rentals should be around 15-17 per cent of turnover per square feet.
However, the rentals at the moment were more than 20 per cent per square feet. In some cases it was around 40 per cent per square feet, he said.
Gellner said Adidas was not keen to spend that high an amount since the brand was not new to India. “We are in India for the last 13 years.”
Sunday 6 July 2008
Palaces making way for Apartment Complexes
Regarded as the most ancient living city in the world, Varanasi evokes exotic and spiritual feelings. The fact that the city is a maze of narrow lanes and bylanes makes the real estate sector follow its own typical pattern.
The traditional mindset of the people here has resulted in only the properties in established and old areas witnessing a surge in prices. Buyers are still reluctant to move to new areas. “People do not prefer to invest in new areas that are being developed due to the age-old mindset of the people,” said VN Singh a prominent property developer and investor.
The city, well known for zari-zardozi work, weaving and Banarasi sarees, is flush with funds leading to property prices being comparatively higher than other large cities in Uttar Pradesh.
The commercial hubs are Sigra, Mahmoorganj, Ardali Bazaar, Lanka, Gadaulia and Lahurabir. Lease rents for an office space in Sigra range from Rs 40-50 per sq ft a month; Mahmoorganj Rs 30-40 and Lahurabir Rs 25-30. While the lease rent could go much higher — by about 20% — in these areas if the property is located on the ground floor with good frontage. Commercial property rates for outright purchase in these areas range between Rs 3,000 and Rs 5,500 per sq ft.
Development and marketing of flats, both residential and commercial, in the city is mostly dominated by the local builders, some of whom have executed large projects and have acquired credibility among the locals. Big names like Unitech, Ansals and Sahara Housing have now started initiating housing projects.
The traditional mindset of the people here has resulted in only the properties in established and old areas witnessing a surge in prices. Buyers are still reluctant to move to new areas. “People do not prefer to invest in new areas that are being developed due to the age-old mindset of the people,” said VN Singh a prominent property developer and investor.
The city, well known for zari-zardozi work, weaving and Banarasi sarees, is flush with funds leading to property prices being comparatively higher than other large cities in Uttar Pradesh.
The commercial hubs are Sigra, Mahmoorganj, Ardali Bazaar, Lanka, Gadaulia and Lahurabir. Lease rents for an office space in Sigra range from Rs 40-50 per sq ft a month; Mahmoorganj Rs 30-40 and Lahurabir Rs 25-30. While the lease rent could go much higher — by about 20% — in these areas if the property is located on the ground floor with good frontage. Commercial property rates for outright purchase in these areas range between Rs 3,000 and Rs 5,500 per sq ft.
Development and marketing of flats, both residential and commercial, in the city is mostly dominated by the local builders, some of whom have executed large projects and have acquired credibility among the locals. Big names like Unitech, Ansals and Sahara Housing have now started initiating housing projects.
Wednesday 2 July 2008
Realty needs Indices Similar to Equity Market
The Real estate industry in India has been growing by leaps and bounds in the past few years. However, the country still lacks a credible way to cross-check the price swings (real or reported) in the sector. For example, recent reports of residential prices cooling off in major cities of the country could not be verified.
There was no authentic data to indicate such a trend. Thus, flats buyers remain confused, not knowing, for instance, whether Mumbai property prices fell more than that of Delhi in the last quarter?
The same does not happen with equity investors. If, at the end of the day, anyone wants to know the day’s market trend, he could visit BSE/NSE website or see next day’s newspaper to know the exact rise or fall of Sensex or Nifty. And nobody questions the authenticity of Sensex or Nifty as a barometer of market sentiment. With years of index publishing, a sort of credibility and association has been built with the equity investors by these financial institutions.
There was no authentic data to indicate such a trend. Thus, flats buyers remain confused, not knowing, for instance, whether Mumbai property prices fell more than that of Delhi in the last quarter?
The same does not happen with equity investors. If, at the end of the day, anyone wants to know the day’s market trend, he could visit BSE/NSE website or see next day’s newspaper to know the exact rise or fall of Sensex or Nifty. And nobody questions the authenticity of Sensex or Nifty as a barometer of market sentiment. With years of index publishing, a sort of credibility and association has been built with the equity investors by these financial institutions.
Tuesday 1 July 2008
Wednesday 25 June 2008
East, West, maybe home is best
Sydney is now showing healthy price growth in the eastern suburbs and the North Shore, where demand is strong from higher income households with good equity, McLeod says. "However, in the outer western and south-western suburbs, residential price growth is still negligible because the lower income groups cannot afford the present price levels. Price growth during the early years of this decade outstripped ability to pay and demand has therefore fallen. This is having a major impact.
"Flats price growth is likely to spread in Sydney in 2008 as the state economy improves, population growth remains strong, Melbourne slows and affordability issues arise, and price differentials between Sydney and Brisbane reduce on increasing rental levels."
Lawless is similarly upbeat about Sydney's prospects. "2008 may spell the end of Sydney's outer suburban plight," he says. "Investors are likely to become more active, chasing strong yields and looking to diversify their portfolio out of shares and into bricks and mortar."
As for McNamara, he has some strong advice for Sydneysiders. "Sit tight," he recommends.
"It's looking a very undervalued market at the moment; it represents better value than it's been for many, many years."
And for those considering a move elsewhere, he counsels against it. "You'll always get better value, dollar for dollar, in Australia's most global city," he says. "After all, do you want to live in a global city or in a Victorian city?"
"Flats price growth is likely to spread in Sydney in 2008 as the state economy improves, population growth remains strong, Melbourne slows and affordability issues arise, and price differentials between Sydney and Brisbane reduce on increasing rental levels."
Lawless is similarly upbeat about Sydney's prospects. "2008 may spell the end of Sydney's outer suburban plight," he says. "Investors are likely to become more active, chasing strong yields and looking to diversify their portfolio out of shares and into bricks and mortar."
As for McNamara, he has some strong advice for Sydneysiders. "Sit tight," he recommends.
"It's looking a very undervalued market at the moment; it represents better value than it's been for many, many years."
And for those considering a move elsewhere, he counsels against it. "You'll always get better value, dollar for dollar, in Australia's most global city," he says. "After all, do you want to live in a global city or in a Victorian city?"
Sunday 22 June 2008
Banned from buying houses, foreigners opt for long lease
With the state government ‘banning foreigners from buying properties in the state’, local builders have fine tuned their strategies and are promoting five-year leases among tourists.
There are no official figures to prove the trend, but lawyers and builders agree that this is definitely increasing, with several builders from the state organizing road shows and exhibitions in UK to attract customers to Goa.
“A large number of builders are leasing houses to foreigners and it is within the law. But something needs to be done as houses are being leased to foreigners at a huge price, making it difficult for Goans to invest in homes” said builder Rajendra Talak of Talak constructions, Margao.
Despite India’s stringent property laws, the affordability of real estate draws foreigners — British, Russians and Israelis — to Goa. “While a two-bedroom flats would cost about Rs five crore or more in Europe, in Goa the flats come at much cheaper rates. Europeans prefer Goa and find investing in homes in the state a cheaper option,” said a builder, who leases out homes to Europeans.
So take my advices please!
Cheers!!!
There are no official figures to prove the trend, but lawyers and builders agree that this is definitely increasing, with several builders from the state organizing road shows and exhibitions in UK to attract customers to Goa.
“A large number of builders are leasing houses to foreigners and it is within the law. But something needs to be done as houses are being leased to foreigners at a huge price, making it difficult for Goans to invest in homes” said builder Rajendra Talak of Talak constructions, Margao.
Despite India’s stringent property laws, the affordability of real estate draws foreigners — British, Russians and Israelis — to Goa. “While a two-bedroom flats would cost about Rs five crore or more in Europe, in Goa the flats come at much cheaper rates. Europeans prefer Goa and find investing in homes in the state a cheaper option,” said a builder, who leases out homes to Europeans.
So take my advices please!
Cheers!!!
Tuesday 17 June 2008
Goa Crying
Goa has not yet reached the nadir of degradation. But, there is a scare that decadence could soon change the face of Goa on a whole. With towns being choked with concrete, the infrastructure here is failing to keep pace with the rapid growth. This phenomenon was prominently captured by Rajan P Parrikar in telling photographs themed “The Rape of Goa“. His pictures were recently on display at the Menezes Braganza Art Gallery, Panaji.
Talking to the Goa Times, Parrikar, who holds a Ph.D in Electrical Engineering, said, “Goa does not have much time left. Real estate sharks and the mining lobby, with the help of corrupt politicians have devoured vast tracts of land, including prime spaces, which he says is a shocking tale of criminal assault on Goa’s land, culture and identity.
Flats 4 midgets? Flats 4 rats? Flats 4 someone? Anyone wanna gift me a flat? Dont care about the location... Cheers!
Talking to the Goa Times, Parrikar, who holds a Ph.D in Electrical Engineering, said, “Goa does not have much time left. Real estate sharks and the mining lobby, with the help of corrupt politicians have devoured vast tracts of land, including prime spaces, which he says is a shocking tale of criminal assault on Goa’s land, culture and identity.
Flats 4 midgets? Flats 4 rats? Flats 4 someone? Anyone wanna gift me a flat? Dont care about the location... Cheers!
Wednesday 11 June 2008
Has the market reached it climax?
It's actually several markets, and one of them - the working/ lower middle-class suburbs of Melbourne and Sydney - is past tipping point and in decline.
Wealthy suburbs in Sydney and Melbourne may be on the verge, with the declines in the stockmarket bringing to an end the "turn it into bricks and mortar" approach to locking in share trading profits. There may be some major declines there, as people who are being cruci- fied by margin calls are forced to liquidate.
Overall, the market has to be topping. Our bubble almost turned in 2004 - and if it hadn't been for Howard's doubling of the flats buyers grant and halving of the rate of capital gains tax (when owners sell an investment property), it probably would have. Those populist policies restarted the bubble as it began to falter. It might have another year left in it, by which time house prices would have tripled in less than 20 years - whereas the dreaded consumer price index (and wages!) has risen by just over 50 per cent.
Yeah mates keep it going...
Cheers!
Wealthy suburbs in Sydney and Melbourne may be on the verge, with the declines in the stockmarket bringing to an end the "turn it into bricks and mortar" approach to locking in share trading profits. There may be some major declines there, as people who are being cruci- fied by margin calls are forced to liquidate.
Overall, the market has to be topping. Our bubble almost turned in 2004 - and if it hadn't been for Howard's doubling of the flats buyers grant and halving of the rate of capital gains tax (when owners sell an investment property), it probably would have. Those populist policies restarted the bubble as it began to falter. It might have another year left in it, by which time house prices would have tripled in less than 20 years - whereas the dreaded consumer price index (and wages!) has risen by just over 50 per cent.
Yeah mates keep it going...
Cheers!
Monday 9 June 2008
House rules change
In the space of six months, just about everything anyone thought they knew about the Australian home loan market has changed. Mortgage rates no longer track the official rate set by the central bank; borrowers must jump through hoops rather than fend off overzealous lenders; instead of racing to beat rising flats prices, prudent buyers must factor in the possibility of stagnant or even falling values.
Previous assumptions about where the best home loan deals lie need to be examined, then re-examined. Many borrowers spurned non-bank lenders last year, for instance, only to be socked by higher rates from the big banks this year.
Resi Mortgage Corporation's head of consumer advocacy, Lisa Montgomery, says the result is that people are confused and suffering from inertia when it comes to their home loans.
"A lot of people have lost confidence in all lenders. They're not sure what they should do," Montgomery says.
You know what should we do? Haha the question is easy, just NOTHING.
Cheerio!
Previous assumptions about where the best home loan deals lie need to be examined, then re-examined. Many borrowers spurned non-bank lenders last year, for instance, only to be socked by higher rates from the big banks this year.
Resi Mortgage Corporation's head of consumer advocacy, Lisa Montgomery, says the result is that people are confused and suffering from inertia when it comes to their home loans.
"A lot of people have lost confidence in all lenders. They're not sure what they should do," Montgomery says.
You know what should we do? Haha the question is easy, just NOTHING.
Cheerio!
Saturday 7 June 2008
A little slice of serenity close to the action
One end of Havelock Street, St Kilda, is opposite parkland; the other meets the cosmopolitan junction of The Esplanade, Acland and Carlisle streets.
One end of Havelock Street, St Kilda, is opposite parkland; the other meets the cosmopolitan junction of The Esplanade, Acland and Carlisle streets. The chic townhouse at No. 56A, while at the heart of the action, is kept private and tranquil by its leafy surrounds and owners Kristie Gray and Stuart Dinn vouch for the serenity.
"The living room stares out to a beautiful big peppercorn tree, it's very peaceful, there are trees all around and you feel a million miles away," says Mrs Gray. "And it's handy with (daughter) Sienna; I haven't needed to drive much as we can walk to shops, parks, beach and movies."
The flats has two bedrooms (one with balcony), a study and a bathroom on the first floor. At ground level, the spacious living and kitchen area has polished boards and is kept bright by a lightwell decorated with a water feature and greenery. The roomy courtyard is dressed with plants and stylish bench seating from a modification the couple did when they bought the house brand new 10 years ago.
"We changed the plants, added seats and built in light boxes where we put ornaments with downlights on them. You sit there and feel like you're in a resort or something," says Mrs Gray
One end of Havelock Street, St Kilda, is opposite parkland; the other meets the cosmopolitan junction of The Esplanade, Acland and Carlisle streets. The chic townhouse at No. 56A, while at the heart of the action, is kept private and tranquil by its leafy surrounds and owners Kristie Gray and Stuart Dinn vouch for the serenity.
"The living room stares out to a beautiful big peppercorn tree, it's very peaceful, there are trees all around and you feel a million miles away," says Mrs Gray. "And it's handy with (daughter) Sienna; I haven't needed to drive much as we can walk to shops, parks, beach and movies."
The flats has two bedrooms (one with balcony), a study and a bathroom on the first floor. At ground level, the spacious living and kitchen area has polished boards and is kept bright by a lightwell decorated with a water feature and greenery. The roomy courtyard is dressed with plants and stylish bench seating from a modification the couple did when they bought the house brand new 10 years ago.
"We changed the plants, added seats and built in light boxes where we put ornaments with downlights on them. You sit there and feel like you're in a resort or something," says Mrs Gray
Wednesday 4 June 2008
What's a fair guide?
Fair Trading investigators found that 20 of 23 properties (flats especially) presented a discrepancy of more than 20 per cent between the minimum promoted price and the price achieved on auction day. Two of those returned a difference of more than 50 per cent.
Spokesman Graham Humphreys says there is no list or guideline in terms of tolerances.
"Each case is looked at on its merits and the circumstances involved because property prices vary so much dependent on suburb and location," he says. "So we look at individual cases to see what's reasonable in the circumstances."
Spokesman Graham Humphreys says there is no list or guideline in terms of tolerances.
"Each case is looked at on its merits and the circumstances involved because property prices vary so much dependent on suburb and location," he says. "So we look at individual cases to see what's reasonable in the circumstances."
Sunday 1 June 2008
Mixed Success
There are several mixed-use developments in Sydney. One recently completed is
After some early disappointments, multi-use developments are on the rise.
Pacific Square at Maroubra, which includes 570 flats, a Coles, an Aldi and 50 specialty shops. "Pacific Square is attracting shoppers who might normally head to Westfield Bondi Junction or Eastgardens,"
The most recent stage of Pacific Square is fully occupied and attracting good rents, Slunsky adds.
Others haven't done so well.
The retail area at the base of St Margarets in Surry Hills always appears to be struggling, with shops coming and going.
Lumiere cafe is the only original business to have survived since the complex opened just three years ago.
It's a very windy site and not sunny for most of the day, also, I think the wrong businesses moved in.
St Margarets architect Adam Haddow says there have been some issues with the site but that they are being addressed by the use of awnings and a large public sculpture to block or deflect the wind.
Haddow says mixed-use developments are the way to go but they require careful thought and planning.
"It's not just a matter of throwing a couple of cafes down there."
Weeeeird guys...
Cheerio!
After some early disappointments, multi-use developments are on the rise.
Pacific Square at Maroubra, which includes 570 flats, a Coles, an Aldi and 50 specialty shops. "Pacific Square is attracting shoppers who might normally head to Westfield Bondi Junction or Eastgardens,"
The most recent stage of Pacific Square is fully occupied and attracting good rents, Slunsky adds.
Others haven't done so well.
The retail area at the base of St Margarets in Surry Hills always appears to be struggling, with shops coming and going.
Lumiere cafe is the only original business to have survived since the complex opened just three years ago.
It's a very windy site and not sunny for most of the day, also, I think the wrong businesses moved in.
St Margarets architect Adam Haddow says there have been some issues with the site but that they are being addressed by the use of awnings and a large public sculpture to block or deflect the wind.
Haddow says mixed-use developments are the way to go but they require careful thought and planning.
"It's not just a matter of throwing a couple of cafes down there."
Weeeeird guys...
Cheerio!
Saturday 31 May 2008
Top end of town hit by properties price rise
Yet-to-be-released research by the National Centre for Social and Economic Modelling at the University of Canberra shows that the most affluent 10% of Australians had an average gross household income of about $175,000 in 2005-06, up from the inflation-adjusted income of $130,000 in 1995-96.
But this was not always reflected in their home-ownership fortunes. The level of outright home ownership among the most affluent fell in that period, from 35% to 28%, while the proportion who were still paying off mortgages grew from 43% to 50%.
NATSEM director Ann Harding will present the results at an international conference on income and wealth in August in Slovenia. Professor Harding said the difficulties of owning a home were being felt right across the country. "It was interesting to see that the top end of town weren't immune from that. Like other Australians they've shifted from being outright home owners to still having to wrestle with a mortgage," she said.
"Right at the top of the income spectrum they haven't been immune from the effects of rapid flats price increases and the consequent decline in outright home ownership."
The research comes just weeks after the Federal Government's first budget contained cuts to so-called middle-class welfare. Families that earn more than $150,000 will no longer be eligible for the baby bonus or the Family Tax Benefit B, and that is also the income at which the Medicare levy surcharge will now apply for families. The budget also targeted luxury cars obviously.
The research also shows that among the most affluent, three-quarters did not have dependent children, making them either empty nesters or a couple that has never had children.
Who can afford it? Not me mates!!! Do you?
Cheers!
But this was not always reflected in their home-ownership fortunes. The level of outright home ownership among the most affluent fell in that period, from 35% to 28%, while the proportion who were still paying off mortgages grew from 43% to 50%.
NATSEM director Ann Harding will present the results at an international conference on income and wealth in August in Slovenia. Professor Harding said the difficulties of owning a home were being felt right across the country. "It was interesting to see that the top end of town weren't immune from that. Like other Australians they've shifted from being outright home owners to still having to wrestle with a mortgage," she said.
"Right at the top of the income spectrum they haven't been immune from the effects of rapid flats price increases and the consequent decline in outright home ownership."
The research comes just weeks after the Federal Government's first budget contained cuts to so-called middle-class welfare. Families that earn more than $150,000 will no longer be eligible for the baby bonus or the Family Tax Benefit B, and that is also the income at which the Medicare levy surcharge will now apply for families. The budget also targeted luxury cars obviously.
The research also shows that among the most affluent, three-quarters did not have dependent children, making them either empty nesters or a couple that has never had children.
Who can afford it? Not me mates!!! Do you?
Cheers!
Wednesday 28 May 2008
How ecological is your flat?
All of us has a responsibility to protect the Mother Earth. But those who live in flats may feel their choices are limited. Certainly, it is more difficult to have a water butt and solar panels if you live in a block of flats, but it is not impossible and there are many other things you can do such as saving water when you go to shower your belly...
Wednesday 21 May 2008
Hi Guys!
I wanna be a midget, Have you ever think about the houses´ prices? That´s why. The new blog has been created. But it´s not a common blog, you, people sovereign, will see... I´m gonna talk about flats, properties, world news, all about this stuff. I hope you will enjoy my words... Cheers!!!
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