by K.Campbell-Overseas-Property-Mall on Wednesday, February 8th, 2012 in London Property, Online Start-ups
Europe’s tech industry seems to have found base in East London, or at least that’s how the UK government plans on selling London’s newly expanded Tech City district. The Silicon Roundabout has been stretched out to accommodate a growing number of start-ups and other tech firms, with the government pledging even more support to help attract new talent and add to the areas twitter-happy conversation. While some welcome the attention, others dread overexposure. As industry bigwigs such as Google and Groupon move-in, locals worry that restrictive property prices might soon follow. Either way, Tech City is buzzing, and these are the ten most rambunctious techies on the block.
by Overseas Property Mall on Wednesday, December 7th, 2011 in Spanish Property
According to a recent report from a risk adviser to Banco Santander SA (SAN) and five other lenders, Spanish banks are currently holding 30 billion Euros worth of property that they can’t sell.
“I’m really worried about the small- and medium-sized banks whose business is 100 percent in Spain and based on real- estate growth, Pablo Cantos, managing partner of Madrid-based MaC Group, said in an interview. “I foresee Spain will be left with just four large banks.”
by Overseas Property Mall on Wednesday, November 30th, 2011 in Billionaire Homes, Mumbai Property
Unbelievable.That is the only word fit to describe the fact that the world’s tallest, most luxurious, lavish and downright most expensive single-family home has been left lying empty for what is now more than a year since its completion. People are understandably angry at the waste. But that is not the only unbelievable thing about this mammoth building built by Indian billionaire Mukesh Ambani.
by K.Campbell-Overseas-Property-Mall on Wednesday, November 30th, 2011 in United States Property
The global property markets are imploding, and fast. The strain that first found its footing in the U.S has now truly gone viral. From Dubai to Denmark, developers have been left reeling, while national exchequers struggle to hold ground. So, how did the housing market bring the greater world economy to its knees? What could have possibly happened that real estate the world over saw $5.4 trillion in losses over the course of one single year alone (2008-2009)? We here present a simple, 8-point lowdown on what really got that demolition ball rolling.
by K.Campbell-Overseas-Property-Mall on Saturday, November 26th, 2011 in Buy to Let, UK Property
David Cameron has finally decided to do something about Britain’s troubled housing market, but it’s not sitting pretty with analysts and investors alike. His radical new strategy (his words, not mine) includes: letting first-time buyers access mortgage funds after only putting up 5% in down payments; further pushes for the Right To Buy scheme targeted at social housing, and injecting a (deceivingly) sizable £400 million to resuscitate the country’s moribund construction sector. Also, in a bid to highlight how incredibly serious Mr. Cameron’s government is about resolving the current housing crisis, he even announced to insure lenders against any defaulting mortgages initiated under the said plan. No explanations, however, as to why none of this gloom was apparent last year while carrying out those brutal spending cuts, of which developmental housing bore the deepest gashes.
by K.Campbell-Overseas-Property-Mall on Friday, November 25th, 2011 in Property News Summaries, Trends
UAE – Dubai
We already reported on how UAE’s thriving aviation industry is helping the region keep out of trouble, and now apparently it’s even flown in to revive those flat lining property markets. Rental specialists, Campaya, just cited Dubai as this holiday season’s go-to destination of choice, reporting a marked uptick in demand for rentals in the city. Thanks to the ongoing slump, prime realty is going for lowly prices. Other popular hotspots include, Egypt, the Caribbean, and Madeira – so much for a white Christmas.
by K.Campbell-Overseas-Property-Mall on Thursday, November 24th, 2011 in European Property, Spanish Property
Spain’s markets are in a fix, and there seems to be no creditable solution in sight. In fact, there is no credit. Lending activity in the country has slowed down dramatically, having experienced its greatest fall this year (a record 2.64% decline till September). The property markets gone bust, and looks to have taken all the air out of Europe’s fourth largest economy. Borrowers keep defaulting, and homes foreclosing. The only thing that’s left soaring here is the national unemployment rate (22.6% at present vs. 7.9% in summer 2009).
by Overseas Property Mall on Wednesday, November 23rd, 2011 in China Property
The Chinese authorities have succeeded in making good on their promise to lower property prices, but this bid to make housing affordable for the greater half of the Chinese population mightprove particularly costly for the Chinese economy as a whole. The residential sector is a major contributor of short-term economic growth in China, and accounted for an estimated 6.1% of its total GDP in 2010. Falling prices have already dragged down investment in the country’s real-estate market, and are expected make a similar dent in its demand for steel. Given the already dismal global economic outlook, a sluggish Chinese economy could then setoff more alarms than fireworks.
by Overseas Property Mall on Tuesday, November 22nd, 2011 in Dubai Property, Travel, UAE Property
The UAE seems well perched on the formidable wings of its soaring aviation industry. Markets are swiftly jetting towards the promise land of both recovery and progress. The region is close to realising its long held ambition of piloting growth independently off its naturally occurring oil reserves (UAE is the 4th largest exporter of oil in the world), and is strategically building upon its tourism industry to provide the necessary traction.
by K.Campbell-Overseas-Property-Mall on Sunday, November 20th, 2011 in Canadian Property
The Canadian housing market continues to function in a consistently insensitive manner. It’s like it fails to realize that the rest of the free world is hurting, and this persistent, and seemingly abnormal, growth is bound to cause more offense than awe. The Canadian Real Estate Association (CREA), only yesterday, released some more upsetting news – the country’s home sales have risen once again (by 1.2% in October), and the overall industry outlook too remains sanguine (1.4% higher sales expected overall in 2011 vs. those in 2010). What is Canada doing differently? Are Canadians a particularly hopeful bunch, or is there something more sinister at play? Why is it that owners and buyers alike have not taken to renting with as much fervor as their American and British friends so apparently have?
