Global Real Estate & Investment News from Propertyshowrooms.com

Property sales rising in Cyprus

Fri, 5 Feb 2010 00:00:00 GMT

The property market in Cyprus received a much-needed boost as house sales rose year-on-year in January.

Investors may be interested in figures released by the Cyprus Department of Lands and Surveys, which show that sales increased by 24 per cent last month.

Popular areas included the country's capital city Nicosia, port city Limassol and coastal city Paphos.

Chairman of the Pancyprian Association of Real Estate Agents, Solomon Kourouklides, told StockWatch: "The latest increase is attributable to the opportunities in the market.

"Many Cypriot individuals and investors buy properties from non-Cypriots or Cypriots that cannot pay off their loans."

However, Mr Kourouklides warned that these opportunities will not last forever and attention should be drawn to the fact that sales fell by 84 per cent in 2009 compared with 2007.

Some developers have been offering discounts of up to 30 per cent on properties in an attempt to lure investors back to the market.

The Bank of Cyprus has agreed to a loan to construct a new marina in Limassol.

Premium properties in western Cyprus could be popular

Fri, 5 Feb 2010 00:00:00 GMT

The Akamas Peninsula in western Cyprus is set to become a favourite among property investors, it has been claimed.

According to a report in British newspaper the Daily Telegraph, new transport links combined with the area's natural beauty are attracting developers building beachfront homes.

A new road which will connect the peninsula to Paphos and its international airport - to be completed around 2011 - could lure potential tourists and investors.

Furthermore, the author of the article highlights the attention Akamas was attracting from "boutique developers", who are looking to rival luxurious homes found in southern France or on the Balearic coastlines.

Andreas Andreou from Cybarco explained that individuals could find something previously unavailable in the country.

"There hasn't been much choice for buyers looking for well-designed premium properties before in Cyprus," he told the paper.

Meanwhile, the Cypriot government has given permission for 14 new golf courses to be built on the island, something which is likely to tempt both tourists and investors.

Additional flights and more tourism represent good news for Turkish property

Fri, 5 Feb 2010 00:00:00 GMT

The increase in the number of budget flights and tourists travelling to Turkey will have a large impact on its property market, it has been claimed.

Dominic Whiting, editor of the Buying in Turkey guide, told online community portal Didim Today that the country's rising appeal represents great news for the property sector.

Many airlines have increased the number of flights they offer to the country in order to keep up with demand.

He argues that this will boost activity in the market and contribute towards a speedy economic recovery.

"More budget flight options, particularly from regional airports, and the growing number of British tourists holidaying in Turkey is excellent news for the property sector and promises to add to the country's appeal with home buyers," he told the portal.

British property investors can capitalise on the fact that Turkey lies outside the eurozone, with the GBP performing well against the Turkish lira.

Bulgarian property market's success 'depends on the banks'

Thu, 4 Feb 2010 00:00:00 GMT

The banks hold the key to the success of Bulgaria's property market in 2010, it has been reported.

According to a report by Bulgarian news provider the Sofia Echo, one of the country's leading real estate companies, Address, has claimed the banks' decision whether or not to implement a foreclosing policy will have a major impact on the property market.

Alongside foreign investors, banks have played a major part in the real estate boom seen in Bulgaria in the previous five years.

Experts have predicted that foreclosures would lead to a significant drop in real estate prices, similar to the situation in the US.

The Sofia Echo quoted Address as saying that by holding onto defaulted loan properties they risked losing investors.

Bulgaria also benefits from not being a eurozone country and current exchange rates between the Bulgarian lev and the GBP are very favourable towards UK buyers, allowing them to get more for their money.

Egypt could be set for 'massive' growth in 2010

Thu, 4 Feb 2010 00:00:00 GMT

The Egyptian property market is benefitting from a combination of low prices, a weak currency and massive economic growth, it has been claimed.

Property portal Property Abroad has made the claims amid speculation that Egypt is going to be one of the most popular markets in the world in 2010.

The portal say that investors in the country are benefiting from higher yields on property, made available because new resorts - capitalising on the tourism influx - are taking advantage of the increasing demand from overseas.

"Egypt also benefits from the fact that it is a young market, born out of the budget flight-fuelled property and tourism booms," the website reports.

"Emerging regions have also become home to a series of apartment-hotel investment products, which are a proven story in the world of private property investment."

Plans have been announced to build a new terminal at the international airport in the Red Sea resort of Hurghada.

Prices up as confidence returns to Spanish market

Thu, 4 Feb 2010 00:00:00 GMT

Confidence is returning to the Spanish property market as one developer starts pushing its prices up.

According to a report on Overseas Property Professional (OPP), a rise in sales of 30 per cent was enough for developer Key Mare to begin increasing its prices across seven separate resorts.

Stefan Kdist, the company's head of international sales, said that a sudden interest from British and Scandinavian buyers in the Almeria region was one of the reasons behind the price hike.

He told OPP: "We wanted to give a signal to people that things are getting better and they should have faith in the situation. Today, people don't feel there's such a risk of losing their jobs as they did a year ago. Most economies are recovering and prices and interest rates are low."

Up until now, the property developer had been following the lead of other firms and offering prospective buyers huge discounts to shift a surplus of unsold stock.

However, OPP warned that this is not the situation nationwide, citing statistics released by the country's housing ministry that show house prices have fallen 6.2 per cent year-on-year.

Almeria is located in south-eastern Spain and has one of the warmest climates in Europe.

Cyprus property market benefitting from huge discounts

Wed, 3 Feb 2010 00:00:00 GMT

The property market in Cyprus may be picking up again, according to one property agent.

Overseas Property Professional (OPP) has reported that Purple International saw a sharp rise in sales in the second half of last year in response to huge discounts designed to tempt buyers back to the market.

Some investors were able to pick up property with discounts of as much as 30 per cent.

OPP also drew attention to a shift in the type of purchasers who climbed onto the property ladder, as retired individuals and people relocating to warmer climates increasingly replaced the typical investor.

"The first half of 2009 was dire but the second half was brilliant," Angelos Koutsoudes, managing director and partner at Purple International, told OPP.

"Because of the volume we sell and … connections with developers, we are able to negotiate big discounts."

The Cyprian government has given permission for 14 new golf courses to be built on the island, something which is likely to tempt both tourists and investors.

Malaysian property market needs to do more to secure foreign investment

Wed, 3 Feb 2010 00:00:00 GMT

The domestic property market in Malaysia will do well in 2010, but more needs to be done to attract overseas investors to the country, it has been claimed.

Malaysian national news agency Bernama has reported that the MIDF Amanah Investment Bank has suggested the residential property market will thrive, driven by increasing demand in the medium-high sector.

However, the bank believes that greater efforts are required in order to secure foreign investment in the country, as currently, foreign buyers in Malaysia are able to benefit from tax incentives and MSC status benefits.

"Our survey with key developers shows purchasing interest remained high, with take-up rates of new projects at an average of 70 per cent just from private previews or the first few days of the launch," Bernama quoted MIDF as saying.

Meanwhile, a report released by research company RNCOS stated that Malaysia's tourism sector is set to grow by nine per cent between 2009 and 2012.

Falling prices could tempt investors to Spain

Wed, 3 Feb 2010 00:00:00 GMT

Falling prices in Spain could make it an ideal destination to pick up a bargain property, it has been reported.

According to a report in British newspaper the Independent, prices in Spain have fallen eight per cent since September 2008.

Property portal Property Ventures has recommended Spain as one of its European and Mediterranean "hot-spots" for 2010, citing the fact that the country is still one of the most popular destinations for tourists from the UK.

The portal says that there are around 1.6 million potential apartments and houses on the market and as such, discounts are widely available to purchasers.

Louise Reynolds, a director of Property Venture, believes that despite Spain's recent economic struggles, its popularity with tourists should help the market.

She continued: "Discounts on seaside property developments mean that there are some great purchasing opportunities."

Research conducted by Skyscanner showed that destinations in Spain were the most searched-for holiday spots on the internet by Brits last year.

France will continue to offer "excellent deals" for investors

Tue, 2 Feb 2010 00:00:00 GMT

Property investors were able to get some "excellent deals" in France last year and this trend is likely to continue throughout 2010.

According to Nick Dowlatshahi, managing director at Leapfrog Properties, the trend of investors buying into more stable economies such as France helped boost sales.

Mr Dowlatshahi recommended that potential purchasers bypass new developments and look to year-old sites in order to pick up a bargain, with developers slashing prices to pay back bank loans.

"2009 was a very good year for people buying French property; not the holiday home buyers or people moving to France, but pure investors who were after some discounted deals from developers," he noted.

"A lot of investors switched from other more unstable countries to France because of the discounts and because of the stability."

He added that the country offered investors plenty of potential, with opportunities for investment nationwide.

International Property Magazine recently placed France at the top of its Quality of Life Index for the fifth year in a row.

Early investment in Spain is recommended

Tue, 2 Feb 2010 00:00:00 GMT

Individuals looking to invest in Spanish property should do so in the early part of 2010, it has been suggested by a property expert.

Des Rowson, spokesperson for Spain at the National Association of Estate Agents International (NAEA), believes that investors should buy quickly to capitalise on rising house prices in the country.

He concedes that the Spanish market endured a difficult 2009, but highlighted the fact that bargains are still available.

Mr Rowson stated that it was unlikely there would be a considerable change in the market until the GBP strengthened and confidence returned among purchasers, but noted that house prices are expected to rise around three per cent over the course of the year.

"So if you are thinking of purchasing a property, do so in the early part of 2010," he noted.

The comments come after NAEA released their predictions for the global property market in the next 12 months.

According to property portal Property Abroad, Spain was the most popular destination for investors in 2009.

Turkey tries to tempt buyers back with bargain properties

Tue, 2 Feb 2010 00:00:00 GMT

Turkey is the place to go if you are looking to purchase bargain property, it has been claimed.

The international economic crisis has meant that property sales in the popular tourist destination fell dramatically in 2009, which has led to developers offering "significant discounts" to tempt investors back to the market.

That is the opinion of Richard Edgar, spokesperson for Turkey and the Caribbean at the National Association of Estate Agents International, as he revealed his predictions for the global property market.

"In Turkey, bargains are to be had as developers try to encourage sales with significant discounts, particularly for cash buyers, and this trend will continue through 2010 in an attempt to mop up excess stock," he said.

"There is a glut of unsold properties providing some genuine and excellent bargains … with some offers of up to 40 per cent discount for cash buyers."

According to research company RNCOS, Turkey's tourism industry will experience significant growth in the coming years.

Australia's housing market is 'strongest since 2003'

Mon, 1 Feb 2010 00:00:00 GMT

According to new research, annual real estate growth in Australia is at its strongest since 2003.

Investors in the country may wish to know that Australian Property Monitors (APM) reported that house prices rose by 12.1 per cent over the course of the year.

It is believed that this growth was driven in the early part of the year by an increase in first-time buyers and sustained by overseas investors towards the end.

APM's economist Mathew Bell commented on the findings, highlighting the fact that median house prices had surpassed pre-global financial crisis highs in December in Sydney, Brisbane, Adelaide and Perth.

He added: "The December quarter was a surprise. There is an indication that not only was there a general price rise, but the more expensive properties were selling as well."

Moderate price increases were expected across all sectors during the first half of the coming year but the medium to long-term outlook for property prices would remain strong.

Former Take That boyband member Robbie Williams joined the rising number of Brit's buying property in the country earlier this year.

Cyprus property could be "tempting" for investors in 2010

Mon, 1 Feb 2010 00:00:00 GMT

Bargain prices in Cyprus combined with its Mediterranean climate make it a tempting proposition for property investors.

In an article in the Daily Mail, Graham Norwood draws attention to the cheap prices developers and estate agents are offering to tempt UK buyers back to its market.

According to the land registry in the country, only 1,480 homes were sold to non-Cypriots in the first ten months of 2009, something which is being put down to the global economic crisis.

However, property agents have suggested things are looking up. Justin Stayles of PropCyprus told the paper said: "Prices are just about stabilising after a long period of freefall.

"If you're going to buy at the bottom of the market, get in quickly."

Areas such as Paphos are likely to benefit from a new motorway which will link the town with the expanding airport.

The Whitehaven News recently described Cyprus as an ideal holiday destination anytime of the year.

Investors can capitalise on the affordability of property in France

Mon, 1 Feb 2010 00:00:00 GMT

French property is looking like it could be at its most affordable for years, according to one expert.

Keith Baker, vice chairman of the National Association of Estate Agents International (NAEA), has revealed his predictions for the country's property market in 2010.

He believes that although the global economic downturn made it hard for the real estate industry, France has benefitted from not having an overpriced market and a more cautious approach to mortgage lending.

"French property is likely to be the most affordable for many years. Property prices are now at a more reasonable level of affordability and are set to continue stabilising in the coming months," he said.

"It is still a buyer's market and confidence is very much apparent. Good quality properties in great locations are always highly sought after."

The NAEA also stated that investors will be looking to purchase property in less risky and more stable environments this year.

European Union figures, released late last year, show that France and Spain are among the countries with the most foreign citizens living within their borders.

Quality homes in the US 'won't stay on the market for long'

Mon, 1 Feb 2010 00:00:00 GMT

Property investors looking to buy homes in the US have been advised not to hang around.

Annette Reeve, director at Mayfair International Realty, has said that quality, affordable housing in the country is unlikely to be staying on the market this year as was the case in 2009.

"People have made a decision and they want to go for it. There is a lot of pent-up demand out there," she noted.

"The feeling about the US at the moment - and the UK - is if there is a bit more [of a price fall] to come, it's probably not going to be massive."

However, Ms Reeve did comment that, despite the record amount of foreclosures in the country, it was unlikely investors would be able to choose from the masses of stock that were around a year ago.

The Federal Housing Finance Agency has reported that seasonally-adjusted US house prices had risen by 0.7 per cent between October and November 2009.

Malaysia's property market set for growth in 2010

Fri, 29 Jan 2010 00:00:00 GMT

Property in Malaysia has been given a positive outlook for 2010 by one expert.

Malaysian newspaper the Star has reported that investors could see a five to ten per cent increase in house prices in the country.

However, James Wong, president of the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia, remains cautious, saying that a significant jump in prices was not expected.

"Condominiums and apartments are currently selling well and landed property prices, which had held through the economic crisis last year, are expected to grow this year," Mr Wong said to the paper.

Economic recovery will be the biggest factor influencing property market performance and Malaysia's GDP is expected to climb two to three per cent in 2010.

Meanwhile, Mr Wong believes that many developers that postponed property launches last year would not do the same in the coming months, adding that investors could take advantage of a five per cent drop in prices last year.

Malaysian Industrial Development Finance recently highlighted the improving economic outlook as a key factor in attracting potential investors.

Turkish investors can capitalise on new flights

Fri, 29 Jan 2010 00:00:00 GMT

New flights to Turkey are testament to the growth potential of tourism in the nation, it has been claimed.

Turkish property agent Spot Blue made the announcement after Easyjet revealed that it would be introducing a new route from Gatwick to the popular destination of Antalya.

Director of the company Julian Walker said: "Given that Antalya villa owners have earned yields of six per cent per year in the last two to three years, the addition of new flights can only boost the potential rental income of Antalya properties.

"As long as new flights continue to be announced quicker and more frequent than new commercial hotel spaces, owners of privately rented holiday property … can continue to rub their hands together."

He noted that the news will also go a long way towards helping Turkey achieve its target of 30 million visitors in 2010.

British property investors can capitalise on the strength of the GBP against the Turkish Lira.

Property prices in Bulgaria could stabilise in 2010

Thu, 28 Jan 2010 00:00:00 GMT

Property prices in Bulgaria are likely to stabilise in the next year, it has been claimed.

According to Tatyana Emilova of real estate consultancy firm Colliers, house prices in the country will fall by a further ten per cent in the first six months of 2010.

The ongoing drop in value in the first half of the year is expected to be succeeded by "stabilisation in the market" in the second half, she told the Bulgarian newspaper Dnevnik Daily.

Experts believe that there will be a rise in demand in the housing market alongside greater flexibility from lenders as a result of the lower prices meaning that investors would be more willing to negotiate.

The news may interest investors looking to pick up a bargain and with Bulgaria falling outside the eurozone individuals can take advantage of the favourable exchange rate.

Overseas investment company Property Venture recently named Bulgaria as one of its top investment choices for the UK buyer in 2010.

New airport terminal will boost Egyptian property

Thu, 28 Jan 2010 00:00:00 GMT

The Red Sea resort of Hurghada in Egypt will benefit from a new terminal being built at its international airport.

The news is sure to please investors in the area who could capitalise on an increase in tourism to the region.

It is believed that the new terminal will help to boost tourism numbers in the region from 6.7 million to 7.5 million.

Steven Worboys, managing director of international property experts Experience International, said that the announcement was encouraging news for property owners.

He believes that they will be able to enjoy easier access to their homes, as well as benefitting from any additional rental income the terminal will generate.

"Interest in the Hurghada area as a location for a second property ownership has been strong, especially as the region has developed into an established tourism destination in recent years," he commented.

Potential investors will also be able to take advantage of Egypt's favourable exchange rate, with the GBP currently performing well against the Egyptian pound.

Hurghada is known for its watersports activities, nightlife and warm weather.

Property market in the UAE 'will' grow

Thu, 28 Jan 2010 00:00:00 GMT

The UAE property market is going to make a strong comeback over the next few years, it has been claimed.

International property agency Chesterton made the prediction based on the emirate's improving economic situation, which is leading to an increase in investor confidence.

Robin Teh, director of valuations and research, has forecast that the property market in the country will grow at a rate of four to six per cent a year until 2015.

Mr Teh said: "Dubai is on its way out of the property slump and this is due to a rise in confidence within the consumer and financial sector in addition to a surge in transaction volumes."

However, he believes that despite the stabilisation seen in the market, the price of mortgages is slowing the recovery down, with interest rates tending to favour the lenders rather than the borrowers.

Premier Holidays recently reported a large rise in the number of individuals booking holidays to Dubai.

Winter weather is causing investors to search for warmer climates

Wed, 27 Jan 2010 00:00:00 GMT

Individuals looking to invest in Australian real estate may be interested in news that the country has seen an increase in the number of property enquiries in recent months.

Overseas Property Professional (OPP) reported that rightmove.co.uk had seen a surge in interest in the country.

The rising popularity is being put down to the winter weather here in the UK, with many potential investors looking to escape to a warmer climate.

The news comes after the Sydney Morning Herald reported a rise in buyer confidence.

Mathew Bell, of Australian Property Monitors, said to OPP: ''I expect continued strong auction listings and sales as the top end continues to outperform the affordable end of the market in the first quarter of 2010."

Australian Finance Group recently stated that it expected property investors to overtake first-time buyers in the market.

Brazil will be a 'hot seller' in 2010

Wed, 27 Jan 2010 00:00:00 GMT

A quick rebound from its brief recession has meant Brazil is shaping up to be one of the investment hot-spots of 2010, according to one portal.

Property Frontiers has tipped the South American country to be one of its top sellers in the coming year, with news that it will be hosting two of the world's biggest sporting tournaments coming at just the right time.

David Cox, director of the property website, noted that an increasing number of people were predicting a surge of interest in the nation.

He cited the large number of news articles discussing Brazil's economic recovery, as well as news that it has vast oil reserves and a booming agricultural sector as reasons for the country's growing popularity.

"And that is why Brazil is now internationally recognised for its property investment potential and will be a hot seller in 2010," Mr Cox explained.

Brazil will be hosting the 2014 Football World Cup as well as the 2016 Olympic Games.

France sees resurgence in foreign investment

Wed, 27 Jan 2010 00:00:00 GMT

Low interest rates on French mortgages are bringing investors back to the country, one travel and property website has said.

According to easier.com, many Brits who held back on overseas investment during the economic crisis are taking advantage of the cheap rates now on offer.

The rush to take advantage of low prices is helping to drive the property market in France forward at its fastest rate in two years.

"People who had felt it wise due to the recession to put their purchase on hold until late 2010 have suddenly realised that now is the best time to buy if they are going to finance the purchase with a mortgage," the website claims.

Currently exchange rates between the GBP and EUR are at the highest they have been since August 2008, making this a good time to purchase property in eurozone countries.

Meanwhile, International Living magazine's Quality of Life Index lists France as the best destination in which to live.

Investors will capitalise on exchange rate and cheap property in Turkey

Wed, 27 Jan 2010 00:00:00 GMT

The favourable exchange rate and low priced property will make Turkey a favourite with the British investor this year, it has been claimed.

Property Abroad has predicted a boom in the Turkish property market this year as investors look to capitalise on the country's growing tourism industry.

Data released by Anna Aero shows that Turkey is the fastest growing tourist destination in the world, with a 9.4 per cent increase in flights from Britain in 2009.

Over the past year the exchange rate has kept many investors away from expensive eurozone countries, while the Turkish Lira has remained weak against the GBP meaning there are opportunities for a bargain.

"In 2010 there are likely to be far more buyers active in the market, as tourism has seen growth," the article states.

"This is because of the massive increase in British tourism to Turkey, which has been put at around 20 to 25 per cent by the Association of British Travel Agents."

Last year Quest Turkey reported that the country was ideal for Brits looking to purchase holiday homes.

Dominican Republic could see rise in 'budget' investors

Tue, 26 Jan 2010 00:00:00 GMT

Low-to-mid budget property investors returning to the market are likely to have a positive effect on property sales within the Dominican Republic, it has been claimed.

According to property portal Property Abroad, the Caribbean island will benefit from the strengthening international market recovery in 2010.

The longer the recovery continues, the website states, the more confident investors will grow, with low budget developments predicted to be the most popular among individuals with not quite so much money to spend.

"Those buying in 2009 were predominantly the better off among society," it notes.

"Dominican Republic property is still the bargain of the Caribbean, and still has one of the fastest growing tourism sectors."

Something that could appeal to individuals looking for property.

In October last year BA decided to launch a twice-weekly service to the Dominican Republic to cope with the increasing demand of holidaymakers wanting to visit the island.

Fractional ownership in Europe on the rise

Tue, 26 Jan 2010 00:00:00 GMT

The fractional ownership market in Europe saw an increase in sales towards the end of 2009, it has been reported.

The Best Group, a fractional consultancy, reported £2 million worth of sales across Europe since the start of November, Overseas Property Professional (OPP) has stated.

Best Group CEO Brad Lincoln told OPP: "What has made completions accelerate is a sense that properties could become more expensive in six months.

"Part of the driver is people are seeing fractional finance coming through and are expecting prices to be driven up as the world comes out of the economic downturn."

OPP suggests that fractional ownership companies in Portugal may have taken advantage of the rising cost of property in the country.

Meanwhile, a surge in investors taking out fractional finance has been cited as the reason why one developer has seen a continued increase in its fractional sales.

Investment consultancy Property Frontiers recently described Portugal as being a "safer" market to invest in than its European neighbour Spain.

Spanish properties to become more affordable

Tue, 26 Jan 2010 00:00:00 GMT

Investors may be interested in reports that Spanish house prices are likely to fall again in 2010.

The news, which was reported by Reuters, may interest those looking to invest in the country as there will be greater opportunity to pick up a bargain.

Jose Manuel Campa, Spain's economy secretary, said that buyers are likely to be encouraged by property prices which are estimated to be similar to 2005 levels.

Government data showed that last year, house prices fell six per cent in the country thanks to the global economic crisis.

"In Spain, property values have still not adjusted to the reality of the market. We think 2010 will be the year prices will adjust," Javier Garcia-Mateo at property consultants Aguirre Newman told the news provider.

Last week the GBP reached its highest point against the euro since August 2008, making eurozone countries such as Spain more affordable.

Florida set to be bargain spot of 2010

Tue, 26 Jan 2010 00:00:00 GMT

Property investors looking for a bargain should head to Florida in 2010, it has been suggested.

A report by Winkworth International has predicted that confidence will return to the US market, causing house prices to improve as the year continues.

According to Charles Peerless, director of Winkworth International, UK buyers will be able to capitalise on the recent slowing down of the market, with luxury homes now available at low prices.

Meanwhile, Sean Snaith, economics professor and forecaster for the University of Central Florida in Orlando, said: "For international buyers, 2010 will be a great time to buy in Florida.

"The imbalance of supply and demand puts the buyer in the driving seat … large inventory, pricing power and the continuing weakness of the dollar when compared to other currencies mean awesome deals in the housing sector," he concluded.

Recent figures released by RealityTrac show that foreclosures reached an all time high in the US during 2009, with Florida, Nevada and Arizona the worst hit states.

Fractional ownership in Europe on the rise

Mon, 25 Jan 2010 00:00:00 GMT

The fractional ownership market in Europe saw an increase in sales towards the end of 2009, it has been reported.

The Best Group, a fractional consultancy, reported £2 million worth of sales across Europe since the start of November, Overseas Property Professional (OPP) has stated.

Best Group CEO Brad Lincoln told OPP: "What has made completions accelerate is a sense that properties could become more expensive in six months.

"Part of the driver is people are seeing fractional finance coming through and are expecting prices to be driven up as the world comes out of the economic downturn."

OPP suggest that fractional ownership companies in Portugal may have taken advantage of the rising cost of property in the country.

While other developers like Pestana, who reported a continued increase in transactions since 2007, taking advantage of an uptake of fractional finance.

Investment consultancy Property Frontiers recently described Portugal as being a "safer" market to invest in than its European neighbour Spain.

British property investors take advantage of improved exchange rate

Mon, 25 Jan 2010 00:00:00 GMT

A currency broker has seen a large increase in the number of British investors purchasing euros for foreign property purchases.

World First has reported a 40 per cent rise in the number of its clients taking advantage of the improved exchange rate, and a 24 per cent rise in new enquiries for the currency.

This could be a boost to the property market in Spain where falling prices and the poor GBP to euro rate have been keeping investors away.

World First's head of private clients Elisabeth Dobson told Overseas Property Professional that: "A number of our clients in the market for euros are taking advantage … and buying their euros for overseas mortgage payments, property purchases etc now."

For the first time since August 2008 sterling has reached a rate of EUR 1.15, something which OPP put down to a run of good news for the UK economy.

Jeremy Cook, World First chief economist, believes the GBP could be up to EUR 1.22 by the end of 2010.

Property Abroad recently revealed that Spain remained the most popular country for British investors in 2009.

Tourism in UAE set to rise

Mon, 25 Jan 2010 00:00:00 GMT

Individuals who have invested in the United Arab Emirates (UAE) will be boosted by claims that holiday bookings to the country are increasing.

Nikki Hain, product manager for Middle East, Indochina and Indian Ocean at Premier Holidays, is confident that airlines offering cheap fares to the emirate are encouraging tourists to return to the country.

"By the end of December 2009 we were up 48 per cent year-on-year for Dubai bookings, for next year," she said.

Business Monitor International's United Arab Emirates Tourism Report suggests that recovery in arrivals to the region is expected to continue throughout 2010.

According to the Post Office Travel Services Holiday Money Report holidaymakers will be able to take advantage of the strengthening GBP when visiting the UAE this year.

Property company Asteco reported that property prices in the area have stabilised during the last quarter of 2009.

Portugal a 'safer' market to invest in than Spain

Fri, 22 Jan 2010 00:00:00 GMT

Portugal is set to replace Spain as the place for UK investors to buy property, it has been claimed.

Investment consultancy Property Frontiers remove made the suggestion after many agents reported an increase in activity and sales in the country during the second half of the year.

It cited the growing economy and rising house prices as the reasons many people are making the switch, alongside a realisation from some that "Spain's [property] boom had most definitely turned to bust".

David Cox, director of Property Frontiers, believes that Portugal represents a safer opportunity out of the two markets and as such it is no surprise that many investors are moving to the neighbouring country.

"Portugal is by far the least risky of the two markets, and if there is one thing the current buyer is that is risk averse," he said.

"Those who would normally choose Spain are now looking at Portugal."

The European Commission has predicted that Portugal's economy will grow by 0.3 per cent in 2010, rather than the 0.8 per cent fall it had originally stated.

Less 'risky' markets hold potential in 2010

Thu, 21 Jan 2010 00:00:00 GMT

Investment in safer markets such as Italy hold good potential for individuals in the coming year, it has been claimed.

Linda Travella of Casa Travella believes that in 2010 interest will rise in property markets which carry less risk.

Ms Travella stated that Italy's property market had suffered a lot less than others as a result of the economic downturn.

This led to increased sales and interest in the market during the last quarter of 2009, with the country considered a 'safe' place to invest.

"There is talk that in Italy, a well established country, property prices could increase by three to five per cent in late spring," she said.

"I would suggest looking at Tuscany, Le Marche and the lakes of Maggiore & Garda, where good deals can be found if you buy sensibly."

Hollywood star Dustin Hoffman recently praised the Italian region of Le Marche, stating that it possessed numerous attractions and was good value in comparison with neighbouring Tuscany.

New flights boost for Spanish investors

Thu, 21 Jan 2010 00:00:00 GMT

Individuals looking to invest in Spain will be encouraged by news that Kiss Flights has announced plans to fly to the country from Glasgow Airport later this year.

The new routes will take holidaymakers to popular destinations such as Tenerife and Malaga, with additional flights to Las Palmas, Lanzarote and Fuerteventura also scheduled during the busy summer period.

Following the collapse of Globespan, which resulted in thousands of holidaymakers being stranded over the Christmas period, the tour operator will take off from Scotland for the first time.

Kiss Flights director Paul Moss said the company was delighted to offer the new flights from Glasgow.

"Since the demise of Flyglobespan we have had unprecedented requests from the travel trade to offer increased capacity from Scotland," he said.

Glasgow Airport has recently agreed to fund a fire safety programme that will help to teach primary school children about the importance of fire safety awareness.

Property appreciation 'most likely to occur in the US'

Thu, 21 Jan 2010 00:00:00 GMT

The US property market provides the best opportunity for price appreciation to its investors, according to a new survey.

The Association of Foreign Investors in Real Estate (AFIRE) released the findings after questioning its members and reported that just over half believed the US market would increase its value.

James Fetgatter, AFIRE chief executive, commented on the results saying: "The financial crisis of the past year has obviously affected investors' perceptions of US real estate as stable and secure.

"However, it is also apparent that opportunity lies within this instability since the US, along with the UK, show substantially higher scoring for expected capital appreciation."

The US was also voted to be the most stable and secure real estate environment to invest in.

Those looking to invest in the US may be interested to hear that foreclosures in the country have reached a record high and individuals may be able to pick up a bargain property.

Demand for housing in Egypt could be fuelled by lack of property

Wed, 20 Jan 2010 00:00:00 GMT

The housing market in Egypt is set to grow in the coming year, according to a new report.

Real estate and investment firm Jones Lang LaSalle has claimed that Egypt's capital city Cairo is benefitting from its growing economy and ideal location at the crossroads of Africa, the Middle East and Europe.

The report stated that there is an increasing demand for housing fuelled by the fact that there is a major shortage in all types of property.

"For a growing range of investors, the deregulation of the real estate sector and the increasingly large and affluent middle class population make Cairo an attractive capital destination," it said.

The firm stated that although demand for real estate in Cairo will slow over the coming year, overall it will continue to increase, driven by both individual and corporate investment.

The Egyptian government is currently stalling its plans to implement new property tax laws in the country, according to Middle East business company Zawya.

Tourism in Morocco predicted to continue rising

Wed, 20 Jan 2010 00:00:00 GMT

Property investors in Morocco will be pleased by news that tourism in the country rose by six per cent in 2009, according to a report.

The figures, released by Reuters, show that despite difficult economic times Morocco was able to increase its visitor numbers to 8.35 million last year.

Government officials are already predicting a further rise of ten per cent in 2010.

Tourism minister Yassir Znagui made the forecast and stated that the country wished to focus its efforts on "sustainable tourism, respect for the environment and a top quality tourism product" in the coming 12 months.

Over the past decade Morocco has more than doubled its tourism income, with investment in holiday accommodation contributing towards its popularity.

Othman Cherif Alami, chairman of Morocco's National Tourism Federation, said: "I think in 2010 we can achieve six per cent growth in foreign currency earnings and get back to the level we were at in 2008."

Last year, Morocco was hailed as Africa's top tourist destination at the annual African Business Awards.

Fractional ownership development opening in Spain

Wed, 20 Jan 2010 00:00:00 GMT

A new development set to be launched in Spain will offer homes for sale on a fractional ownership basis.

David Lloyd Resorts is launching a new development at Desert Springs Resort in Almeria next month, giving investors the opportunity to buy four-week shares in apartments and townhouses located on the site.

The company plans to build a network of fractional ownership developments across the world, in countries such as Canada, Thailand, Barbados, Cyprus and Turkey.

Speaking about the proposed development in Spain, Simon Coaker, sales and marketing manager at Desert Springs, said: "David Lloyd Resorts uses this principle to provide individuals with the opportunity to share in, and enjoy, exclusive property ownership that may previously have been unobtainable as a sole investor."

According to Nick Lawrence, sales and marketing director of David Lloyd Resorts, the company plans to sell the properties after ten years, returning the proceeds to the owners in a manner proportionate to their original investment.

Malaysia could be an attractive investment opportunity in 2010

Tue, 19 Jan 2010 00:00:00 GMT

Rising demand and an improving economic outlook are likely to be key factors in attracting investors to Malaysia, it has been claimed.

A report from Malaysian Industrial Development Finance (MIDF) shows that these factors are likely to make property investment in the country an attractive proposition for many in the coming year.

But MIDF warned that the withdrawal of cheap credit, absence of attractive promotions and favourable regulations may have a detrimental effect in the long term.

"Sales demand for residential properties is expected to remain buoyant as investors continue to deem it as one of the more liquid hedging asset. Speculators are also taking advantage of the current market sentiment to lock-in on gains," they said.

A survey of key property developers in the region found that none of them were planning on slowing down the rate at which they were developing new property.

Earlier this month the Malaysian government decided to limit the reintroduction of capital gains tax to properties sold within five years of their purchase date, something that Malaysia's Property Investment Organisation claimed was indicative of its favourable view towards property investment.

Foreign investors take advantage of cut price condos

Tue, 19 Jan 2010 00:00:00 GMT

Cut condo prices in the second half of 2009 triggered a foreign buying frenzy in Miami, it has been claimed.

Condo Vultures has released figures that show over 2,350 condos were sold in the state during the course of 2009, with 1,655 purchased in the latter part of the year.

Peter Zalewski, a principal with the real estate consultancy firm, commented that an increase in buying activity was seen in the second half of the year after prices were slashed by around 30 per cent.

"The new prices triggered a buying frenzy by foreign nationals with strong currencies and private equity groups that finally began to purchase, completing a dozen condo bulk deals in the Brickell Avenue Area, Downtown Miami, and the Biscayne Boulevard Corridor in 2009," he said.

In Greater Downtown Miami, 82 condo towers have been constructed within the last seven years, with 34 of them completely sold out.

Florida was recently revealed as one of the US states with the highest foreclosure levels.

Cape Verde 'prospers' in the current economic climate

Mon, 18 Jan 2010 00:00:00 GMT

Investing in Cape Verde is "wise" in the current economic climate, it has been claimed.

According to the Daily Mail, one of the UK's leading newspapers, investors who recognised the potential of the archipelago a few years ago are now enjoying the benefits of the island's rising popularity.

The paper reported that Cape Verde has seen a 22 per cent rise in tourism compared with the previous year, with new airports and ferry services likely to increase this figure further in the future.

Paul Akwei, director of Noscasa estate agency, said in an interview with the news provider: "The recession came at the right time to save Cape Verde from being ruined."

"Some developments were shelved, but the better ones went ahead and the government has continued to invest in infrastructure to help the islands through the downturn."

It was revealed last month that Cape Verde was to be the sole nation to benefit from funding by the American government.

Good governance, economic development and human rights were given as the reasons for the boost.

Estonia could see rise in foreign investment

Mon, 18 Jan 2010 00:00:00 GMT

Foreign investment in Estonia could climb as the country's Government strives to reduce its budget deficit, it has been claimed.

If the country meets European Union requirements for entry into the euro it could promote economic stability, something that would help make it desirable for potential investors.

According to CompaniesandMarkets.com the Government is attempting to lower its fiscal shortfall to within three per cent of GDP by privatising its "public obligations".

The report commented: "Our core view is that broad political consensus towards accelerated euro adoption should provide an anchor for economic policy and help prevent any major parliamentary ructions through 2010."

A spokesperson for German foreign minister Guido Westerwelle recently told Reuters that Mr Westerwelle had said to Estonian Prime Minister Andrus Ansip during a stopover in the country that "Estonia is on a good way for euro introduction in 2011".

In an article for the New York Times, Reuters columnist Paul Taylor said that Estonia will be the first Baltic country to join the euro.

South Africa one to watch in 2010

Mon, 18 Jan 2010 00:00:00 GMT

South Africa offers good prospects to potential investors in 2010, according to reports.

UK newspaper the Independent has reported that the combination of the forthcoming football World Cup and a resurgence in the housing market make the African nation a "good hope" for investors.

Jacques Ellis, manager of Cluttons estate agents, told the paper that despite the credit crunch causing the property market to level out, things were beginning to pick up once again.

"In the past few months we have seen life return; sales and enquiries are up and we expect, with the global focus on South Africa in 2010, that this will continue with international buyers returning in force," he commented.

The 2010 World Cup will attract hundreds-of-thousands of visitors to South Africa, meaning those thinking of investing in property in the country may look to buy residences that can be rented out during the tournament.

Those who do so may also benefit from a longer-term growth in tourism in the country resulting from South Africa's greater exposure.

New flights to Turkey launched

Mon, 18 Jan 2010 00:00:00 GMT

Investors looking to Turkey may be pleased to hear news that Pegasus Airlines is launching additional flights to the country from the UK.

Antalya, Bodrum and Dalaman will be the destinations benefitting from the extra flights, which will be available from January 18th and departing from Gatwick, Stansted, Manchester and Birmingham.

During the summer there will be two extra flights to Dalaman a week departing from Manchester and three additional ones from Gatwick.

New journeys to Antalya and Bodrum are also planned with flights from Manchester, Birmingham and Stansted scheduled.

It has been suggested by Investor magazine Quest Turkey that the popularity of the country among British tourists may be due to the favourable exchange rate that exists as a consequence of the country being outside of the eurozone.

In a forecast reported by Hurriyet and issued by the Turkish Association of Real Estate Investment Companies, Turkey's property market is predicted to grow five or six per cent in 2010.

They noted that this was expected to occur despite house prices remaining flat.

Investors may be drawn to the rental market in Turkey

Mon, 18 Jan 2010 00:00:00 GMT

Investors looking to buy-to-let in Turkey will be boosted by the news that the holiday rental industry has seen an increase in enquiries in the first ten days of 2010.

Overseas Property Portal (OPP) reported that holiday rental website holidaylettings.co.uk had over one million potential travellers visiting its website at the start of the New Year, an increase of over 50 per cent compared with the same period in 2009.

Popular destinations included Spain, France, UK and Portugal but it was Turkey that was tipped as the location to do well in 2010.

In an interview with OPP Kate Stinchcombe, a spokeswoman for Holidaylettings, remarked that: "Early insights show that Turkey is going to benefit once again this year and took a significant stake in the pre-Christmas bookings for summer 2010."

"It is currently the seventh most popular country destination in the January rush for holidays."

Late last year, investor magazine Quest Turkey said the country's tourist rental sector had been benefiting from being outside the eurozone as this makes it cheaper for Britons to visit because of the favourable exchange rate.

UAE offers investors 'opportunities not found elsewhere'

Mon, 18 Jan 2010 00:00:00 GMT

According to one property expert individuals should not be put off looking to the UAE for investment opportunities.

Reports that the property market in Dubai is now stabilising and these claims may make the country an attractive prospect for people once again.

Nicholas Marr, CEO of homesgofast.com, admits that the economic climate has caused investor confidence to lessen but insists that there is still plenty of scope for people to buy.

Mr Marr declared that it was the business sector that had been hit hardest by the economic fallout, insisting that lifestyle buyers could still find good unique purchase prospects.

"The compelling reasons why Dubai was the place to invest are still there albeit in a different guise," he said.

"However time will prove that Dubai still offers overseas investors opportunities not found in many other regions."

The most recent figures released by the Colliers International house price index found that property prices in Dubai increased by seven per cent in the third quarter of the year.

'Stable' prices in the UAE represent good news for investors

Mon, 18 Jan 2010 00:00:00 GMT

Investors in the UAE will be encouraged to hear that property prices stabilised in the last quarter of 2009.

According to a report published by property company Asteco, an improved economic position and more readily available mortgages have contributed to a brighter future for the emirate.

Elaine Jones, chief executive of Asteco, commented that lifestyle communities such as Palm Jumeriah are managing to hold their own in the tough economic climate.

Other areas that are maintaining value well include Downtown Burj Dubai and Dubai Marina and the report indicates that the reason for this is the ability of these locations to offer residents an abundance of retail and leisure facilities.

"With continuous improvement of infrastructure and completion of residential and hotel developments, has become a sought-after destination," Ms Jones said.

At a recent seminar discussing how to learn lessons from the world economic slump, Abdul Rahman Al Saleh, the director general of Dubai's department of finance, said that the emirate had reasons to be optimistic.

US foreclosures reach new high

Mon, 18 Jan 2010 00:00:00 GMT

New figures released show that foreclosures in the US had reached record numbers at the end of 2009.

RealityTrac's end of year report shows that a total of just over 2.8 million foreclosure filings were reported over the course of the year, with the figures representing a 21 percentage point increase on 2008 and 120 per cent on 2007.

Such findings may suggest that those keen on buying a property in the US will still have plenty of chances to pick up a foreclosed bargain.

Florida, Nevada and Arizona were the states with the highest foreclosure levels.

Of these, Nevada was worst hit, with more than ten per cent of housing units receiving at least one foreclosure warning over the course of the year.

James Saccacio, chief executive officer of RealityTrac, said that if it were not for "legislative and industry related delays in processing delinquent loans", the numbers could have been much higher.

"Despite all the delays, foreclosure activity still hit a record high for our report in 2009, capped off by a substantial increase in December," Mr Saccacio continued.

The rise in foreclosures can be attributed to the economic climate and rising unemployment in the country.

Expert advises caution in Spanish property market

Fri, 15 Jan 2010 00:00:00 GMT

A Spanish rental property expert has recommended potential property investors take time to research their ideal location so they can move quickly when the market stabilises.

Paul Bradley, a spokesperson for the Spanish Property Owners Guild, made the recommendations in response to news that investor interest in the country remains high.

According to Kyero.com, enquires about property in Spain were up 34 per cent in the first week of 2010 in comparison with the same period last year.

Mr Bradley dismissed this, putting the figures down to boredom among Brits surfing the web as an escape from the snow, adding it was unlikely that the high numbers would convert into transactions.

"However it does no harm to research your ideal location so at least you are ready to move quickly," he said.

He went on to suggest that the Spanish property market would fall another seven per cent, advising investors to hang onto their money until the market has stabilised.

According to the latest figures from Property-Abroad.com, Spain is the second most searched for destination for potential property investors.