Estate Agent vs Analyst
If anyone, either in the U.K or the U.S.A needed an incentive to look overseas for their next property investment, recent reports released in both counties should provide it.
Rightmove, an online U.K estate agent recently released a report that shows UK asking process have dropped for the third month in a row.
In the last month, the average asking price for a house in the UK dropped 0.8 per cent to £230,428, bringing the annual rate of increase down to 3.4 per cent – the lowest since December 2005.
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The Japanese company, Sumitomo Forestry, is aiming to quadruple their sales of houses in China, hoping to achieve sales of around £4 billion by the end of 2009. The Sumitomo Forestry Company has a minority share holding in Paragon Wood Products (30%), a company that builds wood framed houses. At the moment, Sumitomo build very few units, but are planning on building 100 units a year.
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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!
Well, we know where we’re retiring to. Along with half the estate agents on the planet we suspect. Bahrain’s Ithmaar Bank has announced the planned development of a $1.6 billion island for the healthcare industry. Dubbed “Health Island,” development is due to start “soon”, said a bank official who refused to be named.
As well as medical facilities, hotels and apartment buildings are planned for the island, which will be located off the north coast of Bahrain near Muharraq.
Investors are eyeing the Gulf’s healthcare industry as the region’s population booms, and the government becomes less willing to provide the free healthcare it has in the past. Ithmaar is also working on a $1.2 billion beach resort and a $175 million hotel that complies with Islamic law also to be located in Bahrain.
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Sunday, January 27th, 2008 
Posted by Overseas Property Mall in Property Industry News, Property News Summaries
