- Romania: 2008 will be the first difficult year for real estate consultants [ZF.ro]
- Foxtons embarks on business review [UK Press]
- US 10 homes on market in first half of year for every one sold [Baltimore Sun]
- Florida’s housing Stabilization – Florida Association of Realtors [MarketWatch]
- Ireland: Property investment ‘at a standstill’ [RTE]
- Credit crunch doubles average deposit on UK homes to £40,000 [This is London]
- How to stop Dubai’s investors flipping out [7Days.ae]
Archive for August, 2008
International Property News Beat – Tough times in Romania, Florida Stabilizing & Stopping Flipping in Dubai
by Overseas Property Mall on Sunday, August 31st, 2008 in Property News Summaries
Lago Vista II – High-Spec Luxury Apartments in IMPZ, Dubai
by OP-Mall on Sunday, August 31st, 2008 in Dubai Property, Dubailand, IMPZ, Property Reviews
Lago Vista 2 is a mediterranean inspired, 24 storey residential development gracefully designed around a crescent-shaped portico. It is to be a green development offering residents well manicured lawns, breathtaking fountains and spectacular gardens. Unique floor designs offer residents breathtaking picturesque views of Arabian Ranches and the glittering lights of Dubailand.
Indians Embracing Gated Community Living
by Overseas Property Mall on Saturday, August 30th, 2008 in Indian Property
India’s rising middle class residents, seem to be catching ‘Gated Community’ fever for security and luxuries on offer. With the exodus of the return of non Resident Indians (NRIs) to India booming at the moment, a ‘private neighbourhood’ trend is rapidly catching on in the domestic property market.
For a small annual premium, residents are protected from sporadic water and power cuts, everyday civil problems, and unpicked garbage cans. The communities tend to be self sustaining providing their own power, water, security and sanitation services.
UK House prices face a plunge of 10.5%
by Overseas Property Mall on Friday, August 29th, 2008 in UK Property
It’s official – according to Nationwide Building Society, the average cost of homes in the UK have plunged by 10.5% within the last 12 months to the end of August
UK housing is currently facing trying times as house prices fall at their fastest rate in 18 years. The rate has been at its fastest this month (August 2008) recording a drop by 1.9 per cent, following drops of 1.5 per cent and 0.9 per cent in July and June respectively.
All this is in the midst of Taylor Wimpey’s massive £1.5 billion loss and two-thirds loss of their stock value.
Is this going to hamper or encourage overseas property investment by Brits?
Tiger Woods Dubai Project on Track
by Overseas Property Mall on Thursday, August 28th, 2008 in Celebrities & Property, Dubai Property, Dubailand, Golf Properties
A recent press release from Dubai developers, Tatweer suggest that the first phase of the first Tiger Woods’ designed golf course is only months away from it’s completion due date in Q4 2009.
The revolutionary course would feature 5 million square feet of locally grown grass and over 30,000 fully grown imported trees according to the release.
The developers’ of the ‘The Tiger Woods Dubai’ project are Tatweer, a division of Dubai Holding, a UAE government owned company. Their plan is to make it part of Dubailand, a massive theme-park complex on the outskirts of Dubai.
The course and surrounding golf residential community together would cost US$1.09 billion (AED4 billion).
Military Real Estate Up for Grabs in Bulgaria
by Overseas Property Mall on Thursday, August 28th, 2008 in Bulgarian Property
Fancy an ex-Soviet barracks apartment in Sofia? Well look no further because the Bulgarian Military has just announced it is to sell a total of 10,300ha and 11,000 buildings this autumn. Although most of the properties are located in Sofia, they would be spread all over Bulgaria in Plovdiv, Bourgas, Varna, Stara Zagora, Veliko Turnovo and Blagoevgrad.
The first set of 243 assets are to be sold in September in a move to generate revenue to buy new apartments for the modernisation of the Bulgarian army to meet EU and NATO standards.
There are three future options the army envisage; Some would be sold, others would have their ownership retained by the defence ministry with build rights sold in exchange for the ministry’s ownership of some property and the last option would be for the ministry to engage in some property development itself.
Due to a shortage of logistic property on the market, the favourite properties are warehouses.
Read more on the Sofia Echo
Ministry of Defence, Bulgaria Official Site
Property Investors to Look To Indian Property
by Overseas Property Mall on Thursday, August 28th, 2008 in Press Releases
India’s “crunch-proof” property market brought to London by Navyroof.com
As house prices in London and surrounding areas are in freefall, some selling for over £50,000 less than originally purchased, London property investors are looking to India for profitability where Merrill Lynch has predicted a 700 per cent increase in property prices by 2015.
A seminar at the City Hotel, Brick Lane, London, at 7pm on September 17th will give London property investors valuable information on how they can benefit from investing in India’s thriving property sector.
It is hosted by Navyroof.com – the company that brings investment opportunities from the most up-and-coming areas of India to the UK.
Spanish Government in Court Over Land Grab Laws
by OP-Mall on Wednesday, August 27th, 2008 in European Property, Spanish Property
British and other overseas expats who have lost their Spanish homes to a notorious and ridiculous ‘land grab’ law now have some hope in retrieving their properties. The European commission has now taken Madrid to the European Court of Justice over alleged infringements of European competition regulations governing the public works contracts in Spain.
The law allowed Spain’s developers to expropriate rural land from property owners if the developers’ could persuade local authorities that the rural land acquired were suitable for “urban development”.
Solitaire, Abu Dhabi – Off Plan Luxury Apartments on Al Reem Island
by OP-Mall on Wednesday, August 27th, 2008 in Abu Dhabi Property, Al Reem Island, Property Reviews, UAE Property
Solitaire Abu Dhabi offers investors a slice of UAE paradise. With ultra modern settings and features, Solitaire is the culmination of smart architectural design, quality and style.
Located in the Maysan district, Najmat Abu Dhabi, Al Reem Island, Solitaire is situated in close proximity to two 5-star hotels and the Marina Bay Apartments. Residents will be able to enjoy exquisite views of the cascading water features and greenery that connect the entire development. Investors can enjoy a world class lifestyle, all the while knowing that they have convenient access to the rest of the world.
Solitaire, Abu Dhabi Overview
Solitaire is an ultra-modern 35-story tower. The unique structure – the whole tower is made of pure glass – and concept of Solitaire allow for maximum streaming of light into the building, while spectacular views can be enjoyed all around.
Beautifully landscaped gardens provide a visual delight and further add to the superb lifestyle that is Al Reem Island.
Indian Property Slowdown – The Economist
by OP-Mall on Tuesday, August 26th, 2008 in Indian Property
Bangalore Skyline
India’s property market was on a high not so long ago. Property investors were flocking to new developments to cash in on a promising future. The new middle class had available funds to help them buy their first homes and everything seemed rosy. Even when the first sign of the global credit crunch appeared, India still powered on.
The market started to pick up back in 2005, when the Indian government eased overseas investment stipulations to make the market more friendly for all. Coupled with India’s economic boom, it made for a fantastic combination until…
