Flats 90210

Viva Las Vegas!!!

Overseas property investors in Spain are set to benefit from a surge in tourism this Christmas, according to new research.

A study by TravelRepublic.co.uk found that many Britons were seeking to experience sunnier and warmer weather during the festive season, prompting many to book trips abroad.

The Canary Islands were found to be a highly popular destination, along with other Spanish hotspots such as Benidorm and the Costa del Sol.

Commenting on the findings, managing director Paul Furner said: “The combination of the terrible summer and the clocks changing this weekend have prompted a surge in bookings for Christmas holidays to the sun.”

He predicted that since tour operators were offering highly competitive deals, more Britons would book trips abroad for this winter.

An increase in tourism in these areas is likely to be welcomed by investors in the Spanish property market, as rental accommodation is widely let out to tourists, while others have bought holiday flats for personal use.

According to NatWest, Spain is the most popular country among Britons who own foreign property.

Best regards my readers!

Russian property investors are continuing to purchase property in other European countries, a media report has said. According to Russia Profile, many overseas buyers are choosing to enter the Spanish property market, while Cyprus has also proved to be a popular choice. The news provider attributed their popularity to several factors, such as the good infrastructure in these countries, as well as the safety and quality of the property itself. In addition, the markets were praised for offering affordable house prices, meaning that many considered a foreign purchase better value for money than an investment in Russia. The news portal added that these countries were popular with different groups of people, including both middle-class buyers and “super-wealthy” Russians. According to a recent study by Yorkshire Bank, many prospective buyers want to enter the Spanish property market (flats, condos, villas, houses…) in order to enjoy its warm weather.

Cheers guys! Invest in Spain!

Budget airlines have offered a greater range of choices to overseas investors, according to experts.

The growth of low-cost flights had opened up Europe to flats & houses investors, as people felt more comfortable away from traditional destinations.

Budget airlines had changed the way people travelled, as they were becoming more familiar with far-flung countries.

It opens Europe up, which makes it really exciting for people with such a wide choice.

Some people could find it difficult to choose because there was too much choice on the market, hence the continuing popularity of established markets such as Spain.

Spain was still the most popular country because people were familiar with it, liked it and knew they could get there easily.

People who were planning to buy abroad to think about whether their chosen destination was well-serviced by airlines, as the property had to be relatively easy to reach.

Cheers!!!

Many Britons are to travel overseas to carry out some of their Christmas shopping, according to experts.

The Association of British Travel Agents (ABTA) stated that each November, there was a surge of bookings for foreign holidays, largely from people hoping to buy presents for the festive season.

Sean Tipton, spokesperson for the organisation, said that Christmas markets were especially popular destinations, as they offered a taste of local culture and a different way of shopping.

He commented: “Christmas markets are getting more and more popular, partly for the Christmas experience as much as what people buy when they get there.”

ABTA recently said that sunny destinations such as Spain were also highly popular getaways during the festive season, along with skiing resorts in Italy.

This could mean that flats & homes investors in rental property could benefit from increased occupancy towards the end of the year.

Cheers buddies!

The property prices of prime locations in Punjab have shot up by 40-55% in the last two years. The cash-strapped state, which desperately needs to push the growth of industrialisation, is facing shortage of land, which has pushed the prices upwards. Flats prices in Mohali, Jalandhar, Bathinda, Amritsar, and Ludhiana are scaling new heights. We have been fetching more price than the reserved cost from our previous auctions. A maximum price has been fetched from Ludhiana as it is an industrial belt. Now we have kept a reserve price of Rs 165 crore for the forthcoming auction of a 5 acre site scheduled to be held on August 26 in Amritsar.

The state government recently acquired 300 acres for the proposed Mohali international airport for which the government paid compensation of Rs 1.5 crore per acre to farmers whose land was possessed. This was the highest ever compensation paid for acquisition by the state government to farmers which has certainly set a benchmark. Lately Greater Mohali Area Development Authority (GMADA), a one kanal seven Marla plot in sector 69 fetched a whopping Rs 3.11 crore against its reserve price of Rs 2.3 crore. The reason this plot went for such high prices could be that Mohali is all set to develop a state-of-the-art town centre in Sector 62, which is near Sector 69. Real estate experts have projected that with the upcoming international airport, Knowledge City and the rapid development in Mohali will keep the reality prices upward only.

Apart from this, the much-talked Trident group’s land acquisition deal was settled only when the group paid 102 cheques of worth Rs 8 crore of the enhanced 70 % price to the original cost to the farmers of the three villages of Sanghera, Dhaula and Fatehgarh Channa in Barnala. It may be recalled the group had acquired 376 acres for expansion plans. The real estate developers in Punjab are extremely happy with the trend.

Cheers!

Of the 795 properties up for auction, just 60% were sold, making yesterday the worst Saturday to sell a house in Melbourne since mid-2005.

Last weekend the clearance rate was 68% and a year ago it was 84%.

The market was “more balanced” this year than in 2007.

Although vendors were not enjoying the same runaway prices, the market had moved to a more sustainable position.

Successive interest rate rises by both the Reserve Bank and banks acting independently, along with sharemarket volatility and the rising cost of living, have all contributed to the dip in consumer interest.

Recent REIV statistics show median values across Melbourne dropped for the first quarter of the year, which also adversely affected the market and gave buyers little reason to bid up flats & houses prices.

In the inner suburb of Abbotsford, Biggin & Scott passed in a two-bedroom terrace in leafy Charles Street, after failing to receive an offer from the 40-strong crowd.

The vendors paid close to $400,000 for the house three years ago, before undertaking a part-renovation. The house was expected to sell for more than $600,000.

Do not give up, and find your place! Cheers!

The Spanish property market has enjoyed good growth in recent years because the demand from overseas investors shows no sign of abating, it has been claimed.

A report from the Royal Institution of Chartered Surveyors (RICS) has pointed out that there remains the potential for growth in Spain, despite some concern that the country’s property boom could be coming to an end.

Acute housing shortages continue, despite all the building; demographic pressures still exist and there remains a seemingly insatiable demand among many Europeans for a place in the Spanish sun.

The Guardian backs up this view by pointing out that property prices in Spain grew by 14 per cent last year and currently offer 100 per cent increases over five years, demonstrating the continued potential in the market.

Spanish real estate has for many been a source of effortless wealth in recent years.

Britons often choose Spain as a favourite destination for a second home or flats and it seems that the attraction of the Spanish sun among Brits is helping to drive the continued demand for property.

Cheers buddies!

Affordability problems in the UK could be providing a boost to the overseas property market, an expert has suggested.

Since many young people could not afford to buy a property in Britain, some were opting to invest in flats abroad instead.

These people were continuing to live in rented accommodation in the UK, while saving the money generated from rental income.

The total gained from tenants, holidaymakers and the capital appreciation of the building could then be used to make up the shortfall in Britain and allow them to buy a home.

While land and housing prices in the U.K. have soared astronomically in the past decade, the world real estate market is a far different story.

The average property in the UK now costs about £187,100, making it more expensive than countries such as Spain.