Predictions

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goldman-sachs-logo Goldman Sachs is a name we all know, well those of us who follow international investment of any kind for any reason. At a time when banks were the salem witches for their part in the collapse of the American economy, Goldman Sachs was Melinda Warren. While the fires are only hot coals now it will likely be a long time before we forget the stories of executives taking hundreds of thousand dollars in golden parachute payments as their banks imploded.

The feelings of the public aside, on Wall Street Goldman Sachs never lost its status. Even as other banks were completely drowned by the crisis, Goldman Sach’s seemed to have the British stiff upper lip and with cut-to-the-bone analysis the firm was one of the fastest banks to start profiting from the new realities left in the wake of the crisis.

Around the world the recession is easing, or, at least according to economic indicators that is what is happening.

Much of Europe emerged from recession in the second quarter, including the big duo of France and Germany. Most of the rest followed in Q3 including Italy. US GDP grew 0.9% in the third quarter, and Italy’s an impressive 1%. Slovakia has also performed impressively; with growth of 1.6% in Q2 and 1.1% in Q3.

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Things have slowed down a great deal in Montenegro since the global financial slowdown began. There has been a severe reduction in the number of buyers in the market, and the country’s economy is shrinking. But it “couldn’t have come at a better time” according to Montenegro architect Robin Gellately Smith of Kotor based Total Group.

Robin explained How Montenegro’s slow planning approvals process, which was a source of developer’s anger a few months ago is now viewed by many as their saviour because:

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Realtor.com, an American online real estate service has just launched their iPhone only version, allowing potential clients to review properties online at the touch of a widget. Since the iPhone was launched recently in the U.K. it seems safe to assume this new real estate agent media will not go unexploited for long.

Joe DeTuno, senior vice president, product management, realtor.com had this to say, “We’re committed to enhancing the experience consumers have when they’re searching for real estate on REALTOR.com .Our new search capabilities for the iPhone are relevant enhancements that give consumers the full power of mobility and immediate access to REALTOR.com in a manner that fits naturally into their everyday lifestyle.”

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Predictions from Property Companies

Global Property

European Property

Asian Property

UK Property

US Property

Please send us links of more 2008 predictions in your comments…..Many Thanks!

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According to The Associated Chambers of Commerce and Industry of India (ASSOCHAM), Indian real estate is poised for a 34-45% growth in 2008.

2007 saw a growth of between 35-38% in real estate values. Mr. Venugopal N. Dhoot, ASSOCHAM’s President said their view is that India had already emerged as the 5th world’s largest investment destination, globally in the retail sector; the market size is currently estimated at US$ 15 billion and has been growing between 35-38% in the last several years.

He also suggested that the real estate sector is likely to grow between 40-45% but that a slow down was likely in the major cities by 2010.

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2007 Review

2007 saw some major changes in the World’s property markets.

The U.S subprime crash bought about massive drops in property values and increases in foreclosures in certain markets and states notably Florida, California and Nevada. Latest statistics show a national foreclosure rate of one foreclosure for every 555 households and Realty Trac, a U.S based online market place is claiming over a million listings as of November 29th. The crash does not seem to be affecting the high end condominium market which continues to flourish, particularly in Manhattan.

Western Europe saw a swift slowdown particularly in Ireland, the U.K and Spain, although, as with the U.S, the high end markets in major cities such as London are also flourishing with record prices being seen for both residential and commercial properties, and the U.K still managed a 9% increase in prices. London is still the most expensive office market in the World for 2007 thanks to the West End, followed by Mumbai, India.

The Baltic markets in general saw a slow down in price growth, with one major exception being Bulgaria, knocking previous success story Latvia well back in the rankings and Estonia falling behind also.

Top performers world wide for the year were Bulgaria, China and Singapore, with Bulgaria showing a stunning 30.59% increase in residential house prices.

Top performers for 2007 percentage increase (- decrease) in local currency

  1. Bulgaria 30.59
  2. China (Shanghai) 27.85
  3. Singapore 27.59
  4. Estonia (Tallinn) 23.38
  5. Lithuania 13.64
  6. Philippines 13.04
  7. Colombia 12.82
  8. South Africa 12.52
  9. Norway 11.56
  10. Hong Kong 11.25
  11. Australia 10.63
  12. Latvia 10.22
  13. Sweden 9.86
  14. UK 9.68
  15. South Korea 9.01
  16. Poland 8.38
  17. France (Paris) 8.27
  18. Japan (6 cities) 7.75
  19. New Zealand 6.67
  20. Canada 6.13
  21. Finland 5.88
  22. Italy 5.60
  23. Spain 5.31
  24. Indonesia 5.24
  25. Greece 4.18
  26. Denmark 3.95
  27. Netherlands 3.77
  28. Malaysia 3.20
  29. Switzerland 2.56
  30. Germany 2.04
  31. Portugal 0.49
  32. Israel -0.51
  33. Thailand -0.78

Romania, the home of Dracula, has been revealed as the best place to make money from overseas property. It topped a list of the 20 best places to make money from overseas property whose upper reaches were dominated by former Eastern bloc countries.

Poland, Slovakia, Slovenia, Hungary and the Baltic Tigers of Estonia, Latvia and Lithuania all featured in the top ten of the list compiled for A Place in the Sun: 20 Best Places to Make Money. The Channel 4 show presented by property expert Amanda Lamb commissioned statistics from a leading accountancy firm to predict how quickly countries’ economies are expected to grow. The ranking takes into account where house prices are over or under-valued at the moment and factors in how much money can be made by renting out a property.

Romania came out top of the list for profit from overseas property because while houses can currently be bought for as little as £5,000, prices are expected to increase by 30 per cent in 2006 as the country prepares for EU accession next year. Over the next ten years, property prices in Romania are predicted to increase by 414 per cent.

Second on the list is Poland where returns over the next ten years are expected to be 393 per cent, while returns on the Baltic States, in fourth place, are expected to be 356 per cent. Portugal, in third place, is the highest placed western European country with predicted returns of 360 per cent, and completing the top five is Sweden with returns of 352 per cent. Old favourites such as France, in 17th place, and Spain, in 19th place, were languishing well down the list, but are still likely to be popular with Brits because they offer a more certain environment in which to invest. “People are always asking me where the best place to buy property abroad is,” said Amanda Lamb.

“The answer depends on whether you’re looking for a holiday home, a pure property investment or a combination of the two. But one thing’s for sure making money from property has never been so important to so many of us. ‘This year’s 20 Best is really interesting because it focuses purely on where you could make the most money from buying property abroad.’ A Place in the Sun’s 20 best places to make money from buying overseas property

1. Romania
2. Poland
3. Portugal
4. Baltic Tigers (Estonia, Latvia, Lithuania)
5. Sweden
6. Belgium
7. Slovakia
8. Slovenia
9. Finland
10. Hungary
11. Luxembourg
12. Germany
13. Czech Republic
14. Ireland
15. Austria
16. Netherlands
17. France
18. Italy
19. Spain
20. Cyprus

Source: AboutProperty.co.uk