Tags: Shanghai, Delhi, Mumbai, Japan, UAE, Vienna, Joho, IDR, UK, international+real+estate, overseas+property
Slovakia is reckoned to have all the ingredients of a fine holiday destination except the sea – and, it might be said, any large lakes like the Alpine nations benefit from. It does have beautiful mountain scenery, castles (Krasna Horka, Muransky Hrad and Spissky Hrad) and national parks (The Tatra National Park, the Low Tatra National Park, Pieniny National Park, Slovak Paradise for caves, Muranska Plateau and Poloniny National Park for wolves, bears and wooden churches). Eastern Slovakia has the lions share of these atttactions.The High Tratra fulfilled a role as a scenic holiday playground for visitors from the richer western half of former Czechoslovakia (now the Czech Republic) and will probably continue to do so. In addition the region has several ski resorts.
Old towns such as Kezmarok and Tara Lubovna retain often attractive historic centres but often have large apartment block estates on the outskirts. The region is also reputed for its mineral springs – the Empress Maria Theresa had them enumerated in the eighteenth century and there are a number of spas such as Bardejov.
Whether these attractions add up to a strong likelihood of a property boom in Eastern Slovakia is dubious. The country’s per capita GDP was almost $18,000 in 2006 (up from $12,840 in 2002) but living standards are higher in the relatively more prosperous and developed west of the country with people in Eastern Slovakia only achieving incomes of about one third those enjoyed in Bratislava. The eastern areas suffer from poor transport links and although road improvements are being made the region’s economy is going to be heavily dependent on rising living standards in neighbouring countries (eg. Poland and Hungary) and greater accessibility.
Read the rest of this entry »
The answer is probably that it is too soon to tell. In particular, the fulfilment of Nicolas Sarkozy’s plans for the French economy are contingent upon the election of cooperative National Assembly in the June elections.
There has been considerable attention to the introduction of tax breaks on interest payments for mortgages for first homes (main residences). Of course, this will only directly benefit a the minority of foreign owners of French property for whom France is their main place of residence. Also, the impact on property prices will be felt most strongly in well populated areas rather than the sequestered locations that overseas investors favour for second homes. However, resort areas should join in the overall benefit of the change.
President Sarkozy is also planning a reform of French inheritance tax with the intended effect of removing all but the wealthy from its grasp. This is likely to cause some French people to consider trading up the property ladder more favourably.
Read the rest of this entry »
Thursday, May 24th, 2007
Posted by Overseas Property Mall in
Indian PropertyAfter two years of rapid price increases (100% rises since early 2005) the Indian property market seems to have stalled. The Hindustan Times reports that volumes of property deals are reckoned to be 50% down in the last two months. The paper also reports that prices of some types of property are beginning to fall, particularly in less prestigious locations. Premium locations such as Cuffe Parade in Mumbai still enjoy stable prices.
The Reserve Bank of India has been sending signals about its concern over the real estate market for a considerable time. Lending for commercial real estate investment had risen by 84.4% in 2006-7 with lending for residential purposes rising 32% in the same period. In a highly regulated financial system the central bank clearly has a crucial part to play and, although it has a number of policy tools at its disposal, it is always in danger of causing distress to inflated markets as well as avoiding threats. In recent months it has orchestrated the following changes in conditions:
- The RBI has introduced focused constraints on lending to the real estate sector (eg. higher interest rates for home loans) which had been growing at a rate of 30% a year.
- It has raised interest rates to cool the economy as a whole Read the rest of this entry »
Tags: indian+real+estate
Berlin has its fair share of palaces (San Souci and Charlottenburg) and Museums (the Pergamon Museum) and historical associations (the rebuilt Reichstag and Spandau, for instance, where Albert Speer was incarcerated) and it’s now enjoying another renaissance as a lively cultural centre instead of the cold war bastion of freedom. However, to point out that Berlin property is cheaper than that in Paris or Rome might prompt the thought that it doesn’t compare so well in other ways. With its waterways and open spaces, though, it does offer an environment that competes very well with over-priced London and, indeed, some Londoners are beginning to seriously consider Berlin as the first rung of their property ladder. British food favourites can be sourced from a number of places around the city and gym and swimming facilities compare favourably with London’s. As the Insite consultancy says, you can buy an apartment in Berlin for the price of a garage in London or Dublin.
Read the rest of this entry »
Tags: germany, Zeitgeist, berlin+property
Citi Private Bank (part of Citigroup) and Knight Frank have published their 2007 Annual Wealth Report on where the wealthy are likely to buy first or second homes (download the pdf report here). The research was done in January and February and the sample was chiefly UK residents. The report’s second component is the Prime International Residential Index, comprising a basket of properties located in more than 70 prime market locations worldwide and valued over time to provide an accurate guide to average prices and price movements.
Maybe not surprisingly, the report reflects confidence that the world’s high net worth individuals (HNWIs) are going to continue to prosper as a class and that they’ll be at the cutting edge in patterns of real estate investment, market leaders as well as fashion leaders.
Read the rest of this entry »
Tags: knight+frank, citi+private+bank, hnwi, plutonomy, global+property, wealth
