Global Real Estate & Rental & Lettings News from Propertyshowrooms.com

Dubai real estate outperforms Abu Dhabi property

Fri, 18 May 2012 00:00:00 GMT

The value of residential real estate in Dubai increased by 1.53 per cent in April, compared to a month earlier, while in Abu Dhabi property prices dropped by 0.65 per cent.

In Abu Dhabi, this now means the cost of buying a home has fallen 5.82 per cent year-on-year. By contrast, it has become more expensive to make a purchase in Dubai, with prices there climbing by 11.46 per cent in the same period, according to the REIDIN figures.

It is a similar picture in the rental market too, with Dubai experiencing both monthly and yearly rental price rises. However, the cost of leasing smaller apartments in the emirate fell last month.

Rental values in Abu Dhabi continued to slide month-on-month and registered a 9.38 per cent decline since April 2011. Conversely, it is small apartments that are performing well in Abu Dhabi, with flats measuring under 50 sq m or between 51 sq m and 100 sq m seeing monthly rises in rental charges.

In the latest Knight Frank Prime Global Cities Index, Dubai was the best performing Middle Eastern destination, posting a quarterly increase in property values of four per cent during the first three months of 2012.

New South African laws 'may affect real estate investors'

Thu, 17 May 2012 00:00:00 GMT

Property investors who own real estate in South Africa and lease it out need to be aware of new legislation being introduced in the country.

Attie Pretorius, director and head of the national real estate practice at law firm Cliffe Dekker Hofmeyr, explained the Rental Housing Bill will have implications for landlords.

One chapter of the legislation relates to the establishment of tribunals to solve disputes between landlords and tenants, such as issues relating to overcrowding or poorly-maintained properties.

Meanwhile, Cape Town has recently introduced a by-law to tackle the problem of dilapidated and abandoned buildings, which allows the local authority to repair or demolish a property at the expense of the owner, Mr Pretorius added.

In a recent article for MoneyWeb, commercial property national head at Rawson Property Group Jason Lee urged landlords to exercise caution when choosing tenants. He advised those leasing out homes not to be worried about asking for large deposits, as this financial protection is needed because landlords are liable for charges when tenants default on bills to utility companies.

Miami 'offering exciting investment opportunities'

Wed, 18 Apr 2012 00:00:00 GMT

The city of Miami offers some outstanding tenanted prospects that could interest those seeking property in the US, in contrast with the general state of affairs in Florida.

While the southern state was among those hit hard by the foreclosure crisis in 2008-09, Colordarcy.com has noted the situation has shifted in the city.

The firm's managing director Loxley McKenzie said: "People would be surprised to hear that property prices have been rising in this Florida city for the past 12 months and buyer activity too has been heating up."

He identified apartments and condos as being the hottest properties in the city, with the Miami Association of Realtors and Southeast Florida Multiple Listing Service noting sales of these (including single family homes) were 46 per cent higher than in 2010.

People seeking foreclosed property at a low price in Florida should find an increase in the supply of it this year, managing director of Feltrim International Adam Cornwell recently predicted.

Rents and house price rise in Turkey

Mon, 16 Apr 2012 00:00:00 GMT

The value of properties in Turkey increased in March, as did monthly rental charges.

According to the REIDIN.com Turkey residential property price indices for last month, the cost of purchasing a home in the country increased by an average of 0.95 per cent compared to February, and by 8.66 per cent year-on-year.

Istanbul posted the biggest monthly rise of 1.18 per cent, while Izmir recorded the largest annual hike at 11.61 per cent.

Overall, the cost of renting a home in Turkey climbed by 0.85 per cent between February and March this year and the expense of leasing a property is now 7.86 per cent higher than it was 12 months earlier.

The most substantial monthly increase in rental charges was noted in Istanbul (1.06 per cent), while Antalya made the greatest yearly gains with rents jumping by 12.34 per cent.

Last month, Colordarcy predicted Istanbul's real estate market will outperform property in London over the course of this year, with house values and rental demand both expected to increase in the Turkish city, while relatively flat rents are anticipated in the UK's capital.

Madeira 'a popular choice' for property buyers in Portugal

Wed, 11 Apr 2012 00:00:00 GMT

Now is a good time to consider purchasing a property on the Portuguese island of Madeira, with rising tourist numbers helping to boost the rental market.

Speaking to the Financial Times, Linda Beaney, from Beaney Pearce, a firm that markets one of the villa developments on the island, explained there is a robust real estate sector in Madeira at present.

"The sales market in Madeira has continued at a steady pace over the past three years," she stated. Ms Beaney added although the number of British buyers has fallen slightly, investors from Brazil, Germany, South Africa and Scandinavia have expressed a growing interest in Portuguese property on the island.

According to the most recent figures released by the Instituto Nacional de Estatistica, Madeira was one of the only regions in the country where the number of overnight stays by tourists increased in 2011, compared to 2010.

The island also recorded the highest occupancy rate in the nation for its holiday accommodation in the same period, which may be a good sign for those hoping to rent out property in Madeira.

Dominican Republic 'a top choice for property investment'

Tue, 3 Apr 2012 00:00:00 GMT

The Las Terrenas region of the Dominican Republic has been singled out as one of the best places in the world in which to buy a property.

According to the Global Real Estate Index compiled by Ronan McMahon for International Living magazine, the area in the country's Samana Peninsula is a good location in which to purchase Dominican Republic property.

Ranking fourth out of 27, numerous factors are expected to boost the value of real estate assets in the area, according to Mr McMahon, including a new road linking Las Terrenas to the capital city of Santa Domingo in less than two hours.

He added the town performs well in terms of value for money, as well as the predicted rental income derived from any beachfront property. Describing it as "a little piece of paradise", Mr McMahon stated: "I can't think of a nicer place to have a beach home."

Earlier this month, Colleen Valerio, the co-owner of Dominican Republic Properties based in Alberta, Canada, told the Calgary Herald renting first is advisable for people considering buying a property in the nation.

WiFi 'important addition' to Spanish holiday homes

Tue, 3 Apr 2012 00:00:00 GMT

Offering WiFi at properties for rent in Spain is likely to result in greater interest from holidaymakers.

Managing director of Currency Index Robin Haynes pointed out having internet access on a trip away has become increasingly important due to the rising use of smartphones and social media.

His comments come after research released earlier this month by Espana Breaks revealed almost one-fifth (19 per cent) of people looking for a Spanish property to rent asked about WiFi connectivity.

Meanwhile, one and two-bedroom villas or apartments were much more popular than larger holiday homes - something investors may want to bear in mind if they are considering buying real estate in Spain.

Mr Haynes added now could be a good time to consider entering the market, because "prices have reduced significantly for British buyers in the last six months, due to the combined effect of a cheaper euro and lower local prices".

Journalist and author Anna Nicholas recently suggested Mallorca is "the perfect place" to buy a property in Spain, because the real estate assets on the island tend to hold their value.

Rental growth recorded for Dubai property

Fri, 30 Mar 2012 00:00:00 GMT

Rents for residential property in Dubai climbed by one per cent in the first quarter of 2012, in comparison to the final three months of 2011.

A new report published by Asteco Property Management noted the value of villas for sale rose by four per cent in the same timeframe.

Elaine Jones, chief executive officer of the firm, commented: "We are seeing further signs that confidence is returning to Dubai as the residential market continues to recover. Rents in some areas have risen as quality developments slowly reach full occupancy."

According to the organisation, one of the most lucrative types of property to invest in is one-bedroom apartments in Dubai's downtown area. The cost of leasing such a home jumped by five per cent quarter-on-quarter between January and March this year.

The REIDIN.com monthly house price index for the emirate also indicates Dubai's real estate market is recovering, with villas recording particularly robust capital growth of 1.54 per cent in February, compared to January.

Istanbul property 'will outperform real estate in London'

Mon, 26 Mar 2012 00:00:00 GMT

Istanbul is likely to experience stronger capital and rental growth in 2012 than London.

Colordarcy, a property investment firm, has highlighted the advantages of buying real estate in Turkey rather than opting for assets in the UK's largest city.

The organisation stressed the fact that rental growth in London appears to be slowing, citing figures from the Financial Times indicating net yields on properties in sought-after locations stand at approximately 5.5 per cent.

In comparison, yields of 8.5 per cent are achievable on Istanbul's prime real estate, while the cost of buying a home in the Turkish city is less than half of what it is in the British capital.

Property price growth of 15 per cent or more is anticipated in Istanbul this year, meaning it will match or beat the figure recorded in 2011, the firm asserted.

Knight Frank recently ranked Turkey in seventh position in its Global House Price Index, revealing the value of real estate in the nation as a whole climbed by 7.7 per cent over the course of last year.

US rental market 'will boost house prices'

Fri, 16 Mar 2012 00:00:00 GMT

The rental market in the US has made gains, with one expert claiming this will provide a boost to home sales in the nation, too.

In the latest Zillow Rent Index, the average cost of leasing a property in the US climbed by three per cent between January 2012 and the same month a year earlier.

However, the value of US real estate dropped by 4.6 per cent during the same timeframe. According to Zillow chief economist Dr Stan Humphries, a strong rental sector will result in a better sales market in the long run.

"A thriving rental market will stimulate home sales as investors snap up low-priced inventory to convert to rentals," he stated.

Dr Humphries went on to explain reducing the number of US properties for sale is important if the housing sector is to recover, adding rising rents will encourage more people to buy, especially while purchase prices remain low.

Last month, the National Association of Realtors announced the inventory of homes on the market in the US fell by 0.4 per cent in January, noting there were around 2.31 million existing properties available at this time.

Demand for Canary Island holiday homes rises

Fri, 24 Feb 2012 00:00:00 GMT

There has been an increase in the number of tourists seeking holiday rentals in the Canary Islands in January, compared to the same month in 2011.

Holiday Lettings revealed demand for this kind of property in Spain climbed by 14 per cent at the start of the year.

According to the organisation, well-known places, such as the Canary Islands, are attracting the most attention, as holidaymakers look for "a reliable climate in the case of winter sun breaks".

Meanwhile, destinations in the Balearic Islands, such as Cala'n Bosch in Menorca and Figueretas in Ibiza, are drawing in tourists, with the firm noting these locations would benefit from further investment in holiday homes to help boost the level of available rental accommodation.

People considering purchasing a second home in Spain may be particularly tempted by the properties available in the Canary or Balearic Islands, as house prices in the archipelagos have held up better than those in mainland Spain.

Figures recently published by Tinsa revealed real estate in these destinations shed 3.1 per cent of its value between January this year and the same month in 2011, a much smaller decline than the national average of 6.6 per cent.

Growing holiday rentals 'boosts popularity of Spanish property'

Wed, 22 Feb 2012 00:00:00 GMT

Investing in a property in Spain is becoming a more popular option thanks to the growth in the holiday rentals market.

Sales and marketing manager of Taylor Wimpey de Espana Marc Pritchard explained there are several reasons why people should consider owning a home in the south-European nation.

"The growth of the rental market has made Spain once again a popular destination for property buyers to invest in, particularly given the readjustment of property price and abundance of cheap flights," he asserted.

Mr Pritchard added his firm has experienced a robust start to 2012, with sales figures in January up considerably on the same month in 2011.

Figures published earlier this month by HomeAway revealed there was a sharp rise in the number of properties in Spain available for holiday rentals.

The organisation recorded a 27 per cent increase in booking enquiries over the course of last year, compared to 2010, adding the Malaga region was among the top five destinations for travellers in the final quarter of 2011.

Will demand for Spanish holiday rentals boost the property market?

Mon, 20 Feb 2012 00:00:00 GMT

There has been an increase in demand for Spanish holiday accommodation, which might provide a boost for the country's property market.

HomeAway has revealed booking enquires for somewhere to stay while on a getaway to the south-Mediterranean nation in 2011 increased by 27 per cent in comparison with the previous year.

This could see more people seeking investment property in Spain in order to capitalise on this growing demand from holidaymakers.

The findings also showed that the rising popularity of renting accommodation in the country resulted in Spain being the tenth best performing market in terms of growth in the last quarter of 2011, with a greater amount of rental properties becoming available during this period.

Liz Rowlinson, editor of A Place in the Sun magazine, recently commented that Spain is a strong place for property buyers to invest in, as a result of falling real estate prices, as well as being a popular holiday destination due to its warm climate, useful amenities and pleasant beaches.

Girona real estate sees higher demand

Wed, 1 Feb 2012 00:00:00 GMT

There has been a rise in the number of overseas buyers looking for properties in certain provinces of Girona, Spain.

PGA Catalunya Resort highlighted research conducted by The Spanish Valuation Society, which found there was more demand from French, Scandinavian, English and Russian purchasers for real estate in Girona in 2011 than in the previous year.

As a result of the greater level of interest in Girona's property markets, prices have remained more stable here than elsewhere in Spain.

Some of the reasons for this include the region's proximity to the coast, its favourable climate and the selection of leisure facilities in the area, PGA Catalunya Resort asserted.

Investors seeking real estate in Spain that is ideal for holiday rentals may also be encouraged by comments made earlier this month by head of Spanish Property Insight Mark Stucklin.

He asserted it is "a buyer's market" in the country, particularly in "consolidated areas that are well-established with a good range of amenities and services".

Holiday home owners in Spain 'need to consider sustainability'

Tue, 3 Jan 2012 00:00:00 GMT

The face of the holiday rentals market in Spain is changing and property investors in the country need to adapt.

This is the opinion of Claus Pedersen, founder of Campaya Holiday Rentals. He has claimed that many properties in Spain and elsewhere are set up for tourists who want a two-week break in the sun, but stressed travellers' priorities are shifting.

He commented that catering for this market "may not be enough to make your property stand out and attract the more niche-minded tourist".

Cultural tourism is one trend in particular to be aware of, Campaya noted, with many travellers now keen to learn about the area in which they are staying and have a more authentic experience.

The organisation has advised anyone considering purchasing real estate in Spain with the purpose of renting it out to holidaymakers to try and cater for more than just one demographic.

Earlier this month, PropertyinSpain.net explained potential buyers are prepared to wait for their ideal asset to come on to the market, highlighting the importance of location to those hoping to generate a rental income from their investment.

Brazil 'a good choice for a property investment'

Fri, 23 Dec 2011 00:00:00 GMT

There are many reasons why Brazil is a prime location for those looking to invest in property overseas, it has been claimed.

Tim Morgan, partner at Emerging Real Estate, highlighted the growing number of tourists visiting the nation as just one of the factors helping boost Brazil's real estate sector.

He explained there is increasing demand for holiday homes for rent, with new-build properties designed for this sector providing "a low level market entry point" for investors.

Meanwhile, Mr Morgan pointed to the good weather, relatively inexpensive cost of living and strong capital appreciation as other reasons why buying a house or apartment in the nation is an appealing prospect.

"Buying property in Brazil is a shrewd move as the country is in relatively strong economic shape like its fellow Bric (Brazil, Russia, India and China) countries," he stated.

Rio de Janeiro is one place property investors may want to consider after the Holiday Lettings' Insight Report recently named it as one of the most popular city break destinations in the world, adding demand for rental apartments here outweighs supply.

Dubai property prices climb marginally

Tue, 20 Dec 2011 00:00:00 GMT

There has been a small monthly increase in the value of residential real estate assets in Dubai, new figures show.

The latest data from REIDIN.com found that property prices climbed by 0.79 per cent between October and November this year.

However, villas in Dubai performed better than apartments, realising a 1.78 per cent rise in this period, as opposed to the 0.36 per cent fall in value experienced with flats.

In Abu Dhabi, however, the picture was less positive, with an overall decline in real estate values of 0.51 per cent recorded in the same timeframe.

Again, villas appear to hold more appeal than flats, with this kind of home seeing its prices drop by 0.10 per cent, in comparison with a 0.86 per cent slide for apartments.

Earlier this month, Asteco published research suggesting that the rental market in Dubai has stabilised, with fewer fluctuations recorded in the amount charged to tenants each month across both apartment and villa lettings.

Is Rio de Janeiro a good target for property investors?

Mon, 19 Dec 2011 00:00:00 GMT

People looking for real estate assets that can generate an income as holiday rentals may be interested in the prospects of Rio de Janeiro in Brazil.

According to the recent Holiday Lettings' Insights Report, the city is an up-and-coming destination, with the report tipping it as a good prospect for investors in 2012.

Rio de Janeiro was ranked as the sixth most popular city break location in the world, with the study noting demand is "outweighing the current supply of apartments and penthouses".

This indicates there are opportunities for investors looking for Brazilian property in the metropolis.

Meanwhile, Sao Paulo was recently cited by Global Property Guide as a potentially lucrative option for those looking for real estate to rent out.

It received four stars out of five in the publication's investment ratings, with the gross annual rental yield currently standing at 7.25 per cent.

Those with the money available to buy a property in Brazil may want to do so ahead of the two major sporting events set to be hosted in the country. In 2014, the football World Cup is heading to the nation, while the Olympic Games will take place in Rio de Janeiro in 2016.

Spain 'a top choice among buy-to-let investors'

Mon, 19 Dec 2011 00:00:00 GMT

Spain is one of the most popular property markets for people looking for holiday let opportunities, it has been revealed.

According to the Holiday Lettings' Insight Report for 2011, the nation was the second most-enquired about destination among such investors, after the UK, between January and October this year.

There was also a three per cent rise in the number of queries about buying a property in Spain, compared to the same period in 2010, the survey noted.

Meanwhile, five of the top ten most-enquired about regions are found in the country, with the Costa del Sol leading the way, followed by the Costa Blanca in fifth place, Tenerife in sixth and Mallorca and Lanzarote, which were ranked ninth and tenth respectively.

The firm also highlighted three Spanish destinations where demand currently outstrips supply for holiday rentals, which may make Playa d'en Bossa and San Antonio in Ibiza, as well as Playa Del Ingles in the Canary Islands, safe choices for investors.

Mallorca is one destination that property buyers may want to consider, after Stephen Dight, managing director of Mallorca Sotheby's International Realty, recently stated the number of tourists arriving on the island has increased, which is often a precursor for rising real estate values.

Dubai rental market 'less volatile'

Thu, 15 Dec 2011 00:00:00 GMT

There has been a stabilisation in the rental market in Dubai, it has been revealed.

According to research conducted by real estate agency Asteco, the amount being charged for renting an apartment or villa in Dubai is holding steady in most areas of the city.

Meanwhile, the firm noted tenants are taking the opportunity to move to higher-quality accommodation while rents are slightly lower.

Chief executive officer at the organisation Elaine Jones commented: "Transaction levels are rising as job security and increased market confidence result in people seeking tenancy upgrades and home ownership."

Earlier in the month, some of Carillion's top executives expressed their confidence in an improvement in Dubai's property sector.

Heads of the UK-based construction firm, which is involved in several developments in the emirate, said in a conference call that they are "anticipating good growth in Dubai" and the company is on track to meet its revenue target over the coming three years, the National reported.

Australian rental sector 'strengthening'

Mon, 5 Dec 2011 00:00:00 GMT

Although the value of homes across Australia's state capital cities has fallen by 2.8 per cent in real terms since the start of 2011, there has been an improvement in the rental sector.

This is according to the latest RP Data - Rismark Home Value Index for October, with Rismark managing director Ben Skilbeck highlighting the changing fortunes of the lettings market.

"While homeowners and property investors have endured a 2.8 per cent tapering in actual home values over the course of 2011, rental growth has been very solid," he stated.

Mr Skilbeck cited figures from the Australian Bureau of Statistics, which show that rents have increased by between four and five per cent so far this year.

He commented that the Australian residential property sector has exhibited "impressive" stability in 2011 when compared to the country's stock market.

Meanwhile, commercial real estate in the nation has experienced a strengthening of gross rental yields, Mr Skilbeck added.

Earlier this month, a survey published by the Royal Institution of Chartered Surveyors found that commercial sector rental expectations for the final quarter of 2011 were positive, despite lower tenant demand.

Demand for rental properties in Portugal climbs

Fri, 2 Dec 2011 00:00:00 GMT

An increasing number of households in Portugal are turning to rented accommodation as they are unable to buy a home, it has been discovered.

The Royal Institution of Chartered Surveyors (Rics)/Ci Housing Market Survey for October revealed that transactions in the lettings sector are increasing.

It is the first time that the study has looked at the rental sector in the country, but the findings suggest that demand for such property is likely to climb.

Investors who have funds available to purchase real estate in Portugal may therefore have an opportunity to capitalise on these changes.

Josh Miller, Rics senior economist, explained that a lack of mortgage finance is pushing more people into rented houses and apartments.

"Given the deteriorating macroeconomic backdrop and tightening in credit conditions that is already underway, the lettings market is therefore likely to continue experiencing high volumes of activity in the near term," he stated.

There may also be opportunities for investors in the holiday rentals sector if sun and sea product manager at the Algarve Promotion Bureau Hugo Nascimento is to be believed.

He recently claimed that the strong appeal of the Algarve region and increasing tourist numbers make it a good place to buy property.

Spanish flatshare rents 'among the lowest in western Europe'

Fri, 25 Nov 2011 00:00:00 GMT

Anyone who buys a property in Spain with the intention of letting it out needs to be prepared for the fact that average rents in the nation are much lower than in the UK.

New research published by EasyRoommate found that rents for flatsharers in Spain stand at around £231 per month, in comparison to the UK where this figure is £360.

The website also revealed that Spanish tenants spend an average of 12 per cent of their salary on accommodation costs, while their counterparts in the UK pay out 15 per cent of their take-home wage on the same expense.

Madrid is the most costly Spanish city for rents, with those sharing a property here paying an average of £304 per month.

However, cities such as Zaragoza and Valencia are much lower down the list, with the typical amount charged standing at £201 and £205 respectively.

Those buying real estate with the intention of targeting the holiday market, rather than domestic renters, may want to bear in mind the findings of a recent study by Campaya.

According to the firm, tourists are becoming much more demanding when it comes to the quality of the properties they stay in during a break, so owners may want to set aside more money for the fixtures, appliances and furniture in their holiday homes.

Turkish property prices climb

Mon, 21 Nov 2011 00:00:00 GMT

The value of residential real estate assets in Turkey has risen, new research shows.

According to the REIDIN.com monthly property index for the nation, the worth of homes increased by an average of 0.81 per cent in October, compared to September.

Izmir saw the biggest price hike in this period at 1.53 per cent, while Istanbul also topped the average figure with a jump of 0.88 per cent in its real estate values.

Those who have invested in a property in Turkey with the intention of renting it out may be pleased to learn that rental values climbed by 1.07 per cent across the country between September and October.

Once again, Izmir headed up the table with a rise of 1.58 per cent, closely followed by Istanbul, which posted upward movement of 1.26 per cent. Antalya also performed well, with rents up by 1.24 per cent here.

Residential real estate prices across Turkey have increased by 6.77 per cent between October 2011 and the same month a year earlier, the research noted.

Data from the Land Registry Directorate General recently published by the Anatolia News Agency revealed that 113,687 properties in Turkey are now owned by foreigners.

Madrid office rental rates 'continue to fall'

Mon, 7 Nov 2011 00:00:00 GMT

The latest figures examining the state of the office market in Madrid do not paint a particularly positive picture.

According to the findings from Savills, rents dropped further during the second quarter of this year, with the organisation noting that a "lack of confidence in the future of Spain's economy" is weighing on its commercial sector.

Meanwhile, prime market yields appear to have plateaued at around five per cent, the firm added.

Savills also pointed out that supply of office premises is currently much higher than demand, which is helping to push rents lower.

On a more positive note, the report showed that vacancy rates fell slightly during the second quarter of 2011, compared to the end of 2010.

However, a recent survey by Cushman & Wakefield revealed that despite investment activity in Europe rising overall during three months from July to September this year, the Spanish commercial property sector did not follow this trend.

In fact, the report found that the volume of transactions conducted in Spain during this period dropped by 46 per cent compared to the previous quarter.

Retail investment in Spain falls

Tue, 25 Oct 2011 00:00:00 GMT

The level of investment in Spain's retail real estate sector fell in the third quarter of 2011, research shows.

Data released by BNP Paribas Real Estate found that Madrid has one of the lowest forecasts for activity in the retail market for both 2011 and 2012 among other prime European locations.

One of the problems facing the nation is a decline in rents as occupiers struggle in the tough economic climate.

The Calle Serano/Calle Ortega y Gasset region of the city saw rents drop by four per cent between the second quarter of 2011 and the same period a year earlier, the study found.

Meanwhile, investment volumes in Spanish retail property slid by two per cent in the three months from July to September, compared to 12 months previously.

BNP Paribas Real Estate also published a report into the European hotel investment sector, with Spain among the nations to see a decrease in activity during the first half of 2011.

However, the firm predicted that the second six months of the year would be more positive, with the potential sale of a portfolio of hotels from Hotasa likely to boost transaction levels.

Rio Grande do Norte 'presents opportunities for property investors'

Mon, 24 Oct 2011 00:00:00 GMT

The Brazilian state of Rio Grande do Norte has a lot to offer real estate investors, it has been claimed.

Sales manager for uv10 Samantha Gore noted that the small village of Gostoso, situated on the coast, is a particular target for developers and investors alike.

This is because it is a hotspot for tourists who come for the kite surfing, while the wind conditions in the region make it ideal for energy-generating turbines and as a result, many workers have moved to the area to help construct numerous wind farms.

Ms Gore commented: "This leaves Gostoso with the enviable problem of demand outweighing supply, with Brazilian and foreign tourists battling the wind farm workers over a limited pool of rental accommodation."

Meanwhile, figures published recently by the country's ministry of tourism revealed that the number of arrivals in the country rose by during the first six months of this year, with 4.4 million people touching down in the nation.

As Brazil is due to host two major sporting events in the next five years, the tourism industry is likely to receive a further boost, which may filter out into property markets.

US housing starts up in September

Fri, 21 Oct 2011 00:00:00 GMT

The number of housing starts in the US rose sharply in September, the latest data shows.

Figures published by the US Department of Commerce revealed that privately-owned housing starts were up by 15 per cent compared to the previous month, while completions also increased by 2.1 per cent.

However, the number of building permits issued dropped by five per cent - although the government department pointed out that despite the monthly fall, this rate is still 5.7 per cent above that recorded in September 2010.

Speaking to AFP, chief US economist at High Frequency Economics Ian Shepherdson described the market for multi-family housing as "massively volatile".

He went on to comment that there are signs of a rebound in the US residential real estate sector, noting it is "presumably because of the sustained increase in demand for rental property in the face of the stagnant purchase market and tight mortgage lending conditions".

Turkey a top overseas property investment location

Wed, 5 Oct 2011 00:00:00 GMT

Turkey has been named as one of the best overseas destinations for those considering real estate investment.

Assetz highlighted the potential of the nation, citing its growing economy, increasing demand for rental properties and banking rules as just some of the reasons to opt for a home in Turkey.

Chief executive at the firm Stuart Law commented: "The property market is underpinned by a strong economy with a growing tourism sector, which can be converted into solid rental yields for investors."

He singled out Istanbul as one of the rising stars in the Turkish real estate sector, pointing to its rapid population growth and the shortage of suitable homes in the area.

Earlier this year, Global Property Guide revealed that rental yields for small apartments in Istanbul across some of the city's most popular districts are performing well.

According to the publication, flats of 75 sq m or less in size command the best yields in Sariyer, bringing in 6.87 per cent, while apartments in the 200 sq m to 250 sq m range offer the highest returns in Beyoglu at 4.78 per cent.

Tourism 'will help drive Spanish property recovery'

Fri, 30 Sep 2011 00:00:00 GMT

The resilience of Spain as a tourist destination will ensure that its property market recovers, one expert has claimed.

Ignacio Osle, sales and marketing manager of Taylor Wimpey Espana, noted the country is set to experience higher growth next year than its European rivals France, Italy and Greece - so property in Spain is still likely to be popular.

He added the "global appeal" of the nation is such that individuals from everywhere in the world will be interested in sampling its traditions and way of life.

"Mallorca is one such destination that has performed better on the property front than its mainland counterparts, offering strong rental market potential," Mr Osle observed.

In August, some 7.64 million foreign visitors were recorded as going to Spain, according to the tourist movement survey from the Ministry of Industry.

Meanwhile, the July General Spanish Real Estate Market Index from Tinsa revealed that real estate values in the Balearic and Canary Islands fell by just 2.5 per cent year-on-year, compared to an average decline of 6.4 per cent nationwide.

Sydney average house prices rise

Sat, 24 Sep 2011 00:00:00 GMT

The latest research published by Savills shows that homes in Sydney have seen their values increase.

According to the firm, the average price of a dwelling in the New South Wales city in June rose by 1.6 per cent, with houses experiencing a boost of 3.4 per cent, compared to a year earlier.

However, the number of transactions taking place in the market over this period declined by 16.8 per cent for residential units as a whole and by 19 per cent for houses.

Savills noted that vacancy rates in the city remain very low at 1.5 per cent, citing the most recent data published by the Real Estate Institute of New South Wales.

As a result, investors have "enjoyed increased demand and consistent rentals", with the organisation anticipating that this scenario will continue "due to the continued disparity between the supply and demand of residential accommodation".

Eynas Brodie, editor of Australian Property Investor, recently stated that overseas investors are attracted to the nation's real estate sector for a number of reasons, including its education system, business opportunities and political stability.

Could golf resort properties in Spain appeal to investors?

Fri, 16 Sep 2011 00:00:00 GMT

One Spanish real estate firm has pointed out that properties located on or near Spanish golf courses have weathered the economic storm better than comparable homes on the coast.

This is the assertion of Taylor Wimpey de Espana, which noted that the value of such dwellings fell by a maximum of 20 per cent - significantly better than the 30 to 35 per cent decline exhibited among properties on the coast that are not near a golf course.

Investors may also want to bear in mind the firm's argument that purchasing real estate on a golf course in Spain "can be a very sound investment".

Good year-round weather and the rising popularity of overseas golfing holidays mean that rental income can be generated in every season, the company explained.

Meanwhile, managing director of Spanish-Living.com Adrian Warriner recently noted that the property markets in the Balearic and Canary Islands have fared better than many other parts of the country, with prices falling by just 2.5 per cent over the course of 12 months.

Domestic demand 'holding up Morocco property market'

Thu, 15 Sep 2011 00:00:00 GMT

Demand among the domestic population in Morocco is helping to boost the country's housing market, one local expert has highlighted.

Nik Kapur, director at M2Morocco.com, explained that this is being further enhanced by foreign investors looking for real estate in Morocco.

And due to the high demand for quality homes, anyone who wants to rent out their property in the nation should be able to find tenants, while the sector itself is also developing, he noted.

"The rental market in the main cities is now starting to mature, with more professional agents and management companies appearing to give investors peace of mind," Mr Kapur commented.

He added that local people are primarily targeting to the low to mid-end of the market, with this particularly noticeable in large urban areas.

Earlier this month, a representative from Aerium Atlas Management told Gulf News that Marrakech is a good location for foreign investors to target.

This is due to its political stability, which is helping the economy to grow and therefore putting it in a "stronger position" than other nations in North Africa.

Moroccan property market 'growing'

Wed, 14 Sep 2011 00:00:00 GMT

Domestic and international demand has helped boost growth in the Moroccan property market, it has been asserted.

Nik Kapur, director at M2Morocco.com, explained that there are an increasing number of opportunities for investors in the country's real estate sector.

He noted that rental values in many of the nation's main cities are continuing to rise, which could bode well for anyone who buys a home with the intention of letting it out.

"Average yields are far higher than can be found in most developed countries and there is strong demand for holiday lettings in tourist hotspots like Marrakech," Mr Kapur stated.

He added that the government is hoping to incentivise real estate investors by offering tax breaks - such as removing capital gains and inheritance tax from properties in the nation.

Earlier this month, a spokesperson for Aerium Atlas Management - which is currently working on four developments in Morocco - told Gulf News that the country has been largely unaffected by the political upheaval taking place in other parts of the Arab region.

As a result, Morocco offers "a safe investment" for those seeking real estate assets in this part of the world, the representative added.

Rents fall in the north of the UAE

Tue, 23 Aug 2011 00:00:00 GMT

Rental values have dropped in the northern regions of the United Arab Emirates (UAE), it has been revealed.

Figures published by CB Richard Ellis (CBRE) showed that in the northern emirates, rents declined by 18 per cent year-on-year, with Ajman seeing the largest falls of 28 per cent.

Meanwhile, Umm al-Quwain saw its residential rents decline by 22 per cent, while the markets in Sharjah and Ras Al Khaimah also experienced drops.

There could be more downward pressure on the rents achieved by property in the UAE, the report noted, due to the amount of new stock entering the market.

Earlier this year, the UAE government announced it would be dedicating funds towards infrastructure improvements in the northern emirates to help cope with a growing population.

In June, new visa rules were unveiled for foreigners who own real estate in the UAE, with the length of visas extended from six months to three years. Officials hoped this would help stimulate investment in its property sector.

Brisbane's most affordable areas revealed

Wed, 27 Jul 2011 00:00:00 GMT

A new survey by PRDnationwide has revealed which suburbs in Brisbane, Australia are most affordable - with Kedron, Lutwych and Wooloowin all cited as being good areas to buy in.

Josh Brown, research analyst at the firm, explained that there has been "significant development" in these parts of the city over the last two years.

"This means when those suburbs start to witness price recovery, it could be accelerated due to coinciding with improved amenities and investor interest," he stated.

Mr Brown went on to note that those purchasing property in these locations can expect to receive strong rents if they let the dwelling, while first-time buyers are also being attracted to the more affordable districts of Brisbane.

By contrast, the most expensive suburbs in the city were revealed to be in close proximity to the central business district, with New Farm topping the list with an average house price of AU$1.3 million (£868,017).

In the Western Australian city of Perth, median house prices have dropped for five consecutive quarters, preliminary data from the Real Estate Institute of Western Australia showed earlier this month.

Property sales in Perth also fell marginally during the second quarter of this year, compared to the three months to March, the organisation added.

Dubai residential real estate market 'stabilising'

Thu, 21 Jul 2011 00:00:00 GMT

The residential property market in Dubai is stabilising, according to a report published by Cluttons.

Although the firm revealed that rents for real estate in the sector are still falling, the rate of decline has dropped significantly during the second quarter of the year, compared to the first three months of 2011.

Indeed, high-end villas are bucking the trend, the data showed, with rents in some areas increasing by between 1.5 and three per cent during the same period.

Cluttons also noted that the final two quarters of the year could see further improvement for Dubai's real estate, as demand from Bahrain and Egypt has an impact on the industry.

Earlier this month, Floyd Pinto, manager of customer care at Better Homes, told Emirates 24/7 that his firm had noted an increase in Indian investors entering the property market in the UAE.

He stated that enquiries from India have increased, which could result in a rise in transactions as buyers look to take advantage of the competitive pricing available on homes.

Holiday homes rental market 'set to improve in Spain'

Tue, 19 Jul 2011 00:00:00 GMT

The market for holiday rental properties in Spain is on the up, it has been claimed, with more travellers heading to the Mediterranean for a break.

Chief executive officer of the Travel Rental Network Brian Schwimmer stated that rental values in Spain are on the increase, which could bode well for investors with property in the country.

He explained that many holiday home owners cut their prices dramatically in 2009 and 2010 in a bid to attract more UK tourists; however, a rising number of travellers from all over the world are now heading to Spain.

As a result, "prices are normalising once again, so people expecting the same discounts they saw last year might be in for a surprise," Mr Schwimmer commented.

Research published by the United Nations World Tourism Organisation at the end of last month revealed that international arrivals to destinations in southern Europe and the Mediterranean rose by 3.5 per cent in the first quarter of 2011, compared with the same period last year.

Las Vegas tops list of best US locations for rental property investment

Thu, 14 Jul 2011 00:00:00 GMT

People seeking to invest in property in the US have been advised to consider homes in Las Vegas, Nevada, which is apparently a good bet for those buying to let.

The city topped a list of the ten best locations for opportunities in the single family rental market compiled by HomeVestors of America, beating Detroit and Warren in Michigan and Orlando in Florida to the number one spot.

Launched this week, the property investment indicator will continue to keep track of changes in the market to provide those buying homes in the US with quality real estate predictions.

David Hicks, co-president of HomeVestors, said: "We're pleased to have developed this ranking system with Local Market Monitor to help investors ... identify opportunities and gauge potential local market investment performance."

The ClearCapital Home Data Index recently suggested that, despite a small increase in house prices over the second quarter of the year, values are set to drop by the end of 2011.

Leaseback sales in France attract foreign buyers

Tue, 21 Jun 2011 00:00:00 GMT

Foreign investors are being attracted to leaseback properties in France being put up for sale by Irish owners.

This is according to Sextant Properties, a French estate agent, which noted that the number of Irish nationals looking to offload their overseas properties has risen.

Speaking to Overseas Property Professional, Rachel German from the company, explained: "With the leasebacks the sellers can often be in financial difficulty so want to sell quickly. And they need high rental yields to attract clients so prices can be lower."

She added that the majority of interest is coming from investors in the US, Asia and Gulf region.

The length of a leaseback on properties in France is usually between nine and 11 years and is renewable. Rent is normally set at a fixed rate that is linked to inflation.

Investors that purchase a leaseback in France will also be entitled to reclaim the VAT paid on the purchase, which is charged at 19.6 per cent.

Foreign investors eyeing Spanish property market

Tue, 21 Jun 2011 00:00:00 GMT

Overseas buyers are hoping to snap up some bargain acquisitions in the Spanish property market over the coming months.

In an interview with Reuters, Van Stults, managing director of Orion Capital Managers, revealed that property in Spain is one of the key targets for its European Real Estate Fund III.

He explained that many investors believe that the Spanish economy has reached - or is close to - its low point and that the market will rebound to give buyers returns on their property investment by 2013.

But Mr Stults stressed that ploughing money into Spanish real estate is not the right option for every buyer, particularly those with little experience of the market.

"Rents are soft and [there is] a tremendous consolidation away from secondary and into prime and quality [property]," he stated.

Meanwhile, data published by the National Statistics Institute earlier this month show that the number of buyers purchasing houses in Spain dropped by almost 30 per cent during April, compared with the same month in 2010.

High demand pushes UK rental prices up

Fri, 10 Jun 2011 00:00:00 GMT

An increase in tenant demand and a low level of new rental property coming onto the market means that now is a good time for buy-to-let investors in the UK, it has been claimed.

The factors have helped to push rents higher in the three months to April, the latest Residential Lettings Survey from the Royal Institution of Chartered Surveyors (Rics) revealed.

In total, 42 per cent more surveyors reported that rents rose rather than fell in the past three months. This is up from 40 per cent in the previous quarter's survey.

Rics spokesperson James Scott-Lee explained that the imbalance between supply and demand means that rents are only expected to rise further still.

"Although we are beginning to see more mortgages aimed at first-time buyers, many potential homeowners are still restricted from getting a foot on the property ladder, leading to increased demand in an already oversubscribed rental market," he added.

Increased air travel in France could interest buy-to-let invvestors

Wed, 8 Jun 2011 00:00:00 GMT

An increase in air travel to France's Nice Cote d'Azur airport is likely to come as welcome news to buy-to-let investors in the region.

Figures have revealed a 9.1 per cent increase in the number of holidaymakers choosing to travel to the region.

Speaking to Overseas Property Professional, Charlie Williams, business development manager of Terresens, said: "Investing in property on the French Riviera is simply common sense.

"High rental yields can easily be achieved with the large volumes of tourists visiting the French Riviera each year along with the abundance of annual conferences and events taking place especially in Cannes, making the South of France an excellent choice for your overseas property investment."

Meanwhile, demand for real estate in the country could be set to rise after it was revealed that the country has beaten off competition from Germany, Holland, Portugal and Spain to secure the 2018 Ryder Cup.

It could prompt a number of buy-to-let investors to purchase property in France to take advantage of the massive tourist boost that the competition will bring.

UK landlords expect tenant demand to rise

Thu, 2 Jun 2011 00:00:00 GMT

Some 49 per cent of UK-based landlords believe that now is a good time to invest in new property.

In comparison, just 19 per cent of those questioned by LSL Property Services plc are looking to reduce their portfolios.

Demand for buy-to-let property is forecast to grow in the coming 12 months, with figures showing that 185,600 fewer first-time buyers entered the property in the last year compared to the level before the downturn.

As a result, many are staying in the private rental sector.

Indeed, in the past three months, 52 per cent of landlords have reported a rise in tenant demand and 68 per cent expect demand to grow further in the next twelve months.

David Newnes, estate agency managing director for LSL Property Services plc, said: "Optimism among landlords is not only buoyant, but increasing.

"Soaring rents and climbing demand from frustrated first-time buyers are not only making buy-to-let an attractive proposition for new property investors - but are encouraging existing landlords to grow their holdings before property prices increase once more."

Gap year students could boost Aussie buy-to-let market

Tue, 31 May 2011 00:00:00 GMT

Buy-to-let investors in Australia might want to try and take advantage of the country's enduring popularity with gap year travellers.

Janice Kurrle, UK marketing manager at the South Australian Tourism Commission, explained that the similar culture and language meant that the country is particularly popular with Brits.

"Australia is a destination which is quite appealing although it is far away," she told researchers.

Buy-to-let investors could be tempted to try and take advantage of this burgeoning market, with property located close to major tourist sites likely to offer the best potential returns.

"There are a lot of attractions in Australia which are quite alluring to the gap year traveller, things like the Great Barrier Reef, Kanga Island, Uluru and Sydney," Ms Kurrle explained.

It follws a recent report from A Place in the Sun which suggested that despite recent price falls in Australia, there are still plenty of investment opportunities for potential buyers.

Turkey is an ideal luxury holiday destination

Tue, 31 May 2011 00:00:00 GMT

Buy-to-let investors with homes in Turkey could be tempted to try and cater to the luxury holiday market following recent comments from the Turkish Culture and Tourism Office.

The country has been touted as one of the top investment destinations for some time now, with a strong economic forecast and stable banking conditions proving attractive.

Joanna Marsh, PR co-ordinator for the Turkish Culture and Tourism Office, told researchers that Antalya is one of the top locations for luxury holidaymakers.

"The combination of long, sandy beaches, world-class golf courses - 13 at the last count - and the fabulous Mediterranean climate makes this one of the fastest growing tourism destinations in Turkey," she said.

Meanwhile, according to the latest Emerging Trends in Real Estate Report Europe from PwC and the Urban Land Institute, the middle class suburb of Bahcesehir is proving popular.

Just 20 minutes away from Ataturk International Airport and 20km from the centre of Istanbul, the Garden City is also home to a burgeoning student population.

Aussie property market offers great 'buy-to-let opportunites'

Fri, 27 May 2011 00:00:00 GMT

Despite the Australian property market recently having some of the sparkle taken off, there are still plenty of investment opportunities for potential buyers.

In particular, the buy-to-let sector still boasts a wealth of prospects for investors, A Place in the Sun reports.

The average price of a home in Australia fell by 0.4 per cent in the first quarter of this year and 2.1 per cent year-on-year, according to statistics released by RP Data-Rismark. The company added that average rental rates have appreciated by 4.6 per cent.

Highest yields can be achieved in Darwin, followed by apartments in Hobart and Canberra, Brisbane, and Sydney.

Tim Lawless, research director at RP Data, commented: "In contrast to the fall in home values, gross rental yields have been improving with apartments and houses now delivering a gross return of 4.9 per cent and 4.2 per cent, respectively, in March 2011.

"With household incomes growing at six per cent per annum, interest rates potentially approaching the peak of the tightening cycle, rents increasing, and house values going nowhere, buyers are seeing an improvement in their position."

New development to boost Cypriot tourism market

Thu, 26 May 2011 00:00:00 GMT

Demand for buy-to-let property in Cyprus could be set to rise following news that Lanaca is preparing to embark on a multi-million pound development.

Some 15 projects are planned to take place over the coming five years, including a new marina, improved transport links, amphitheatre and 18-hole golf course.

Located on the southern coast of Cyprus, Larnaca is the third largest city and home to the island's biggest airport with direct flights to the UK.

Indeed, the latest figures show that the tourism market in the country has been relatively unaffected by economic troubles. In April, there was a 43 per cent increase in arrivals compared to the previous year.

Alexander Tomlinson, director of Cyprus property experts, Gem Invest, said: "Undeniably Cyprus has been affected by the global economic downturn.

"However, things are turning around with increasing tourism sparking the property market back into life, especially in an around the popular town of Larnaca."

Costa del Sol drawing British property buyers back

Wed, 25 May 2011 00:00:00 GMT

The Costa del Sol has always been one of the best-performing locations in Spain when it comes to property investment.

Boasting one of the best climates in the country, a range of leisure and culture facilities and a growing ex-pat community, it is the ideal destination for Brits to escape to.

Indeed, a growing number of British, Russian and Scandinavian property buyers are beginning to show a real interest in the Costa del Sol. Reductions in asking prices of up to 30 per cent proving too good to miss out on.

Ignacio Osle, sales director of Taylor Wimpey Espana, explained: "2011 has started well. In this first quarter enquiries made by foreign buyers at our office in Benahavis on the Costa del Sol have gone up by 43 per cent, certainly an encouraging sign."

Meanwhile, the tourism market in the country has also showed no signs of slowing down, buy-to-let investors in Spain will be encouraged to hear.

Between January and March this year, Spain received nine million international tourists - an increase of 2.9 per cent over the same three month period last year, data from The Ministry of Industry, Tourism and Trade revealed.

Rents climb in London yet again

Tue, 24 May 2011 00:00:00 GMT

Investors with exposure to the London property market will be encouraged by news that rents in the capital increased for the 20th consecutive month in April.

The price of leasing a home in the buoyant capital went up by 0.4 per cent over the course of the month, research by Knight Frank revealed.

It will come as no surprise to investors that have been following recent UK market conditions, with the city clearly outperforming the rest of the UK property market in terms of real estate values and demand.

The annual growth rate now stands at 16.3 per cent, the consultancy noted.

Knight Frank's head of lettings, Tim Hyatt, said: "With strong rental growth outpacing improvements in capital value for the last year, yields have begun to edge higher, much to the relief of landlords."

It is a trend that has not gone unnoticed by investors. The Council of Mortgage Lenders last week released figures showing that buy-to-let purchases were up in Q1 2011 compared to the same period a year earlier.