Just a short 4 hour flight away from the UK where the east meets the west is Turkey, a rare jewel indeed,; This country is rich in history, has a diverse culture and is fast becoming a major tourist destination attracting European and British visitors alike. Its wonderful climate, affordable living costs and the low property prices are luring many retirees and those seeking a new attractive destination where they can start a new life.
Graham Pyle explores the potential and prospect of Turkey becoming the “New Spain”
Speaker Profiles
Graham Pyle
The Managing director Graham Pyle was possibly the first UK estate agent to recognise the potential of the Florida property market, when in the mid 80’s he commenced promotion of Florida real estate to British buyers.
His firsthand Florida property market experience has provided he and his team with the authority & knowledge to talk about all aspects of a typical non -resident property purchase.
Article written by Properties Abroad.com
Wednesday, 27 February 2008
Dubai Bubble
No one can say that Dubai is not forward thinking in their plans for the emirate. There seems to be a never ending supply of new developments and staggering construction projects. An interesting statistic I came across recently –
25 percent of the world’s operating construction cranes are currently in Dubai - working. That’s 30,000 cranes at the moment.
Some are beginning to question the sustainability of all this, especially when you consider all the construction is in the desert - with limited water supply and every single project putting more and more pressure on a limited infrastructure. Money week made an interesting comment recently – “When a property developer starts handing out free BMWs and Bentleys with every apartment sale, you can be sure that a property bubble isn’t far off popping.”
This was in response to a recent promotion run by DAMAC which promised a free BMW or Bentley with every condominium sale. But they do like to do things on a large scale in Dubai.
Sunday, 17 February 2008
Saturday, 16 February 2008
Hot Romania
All leading institutions are stating that Romania is the number one investment opportunity in the EU, and that this will continue for the foreseeable future. This has only been reinforced by the news that in January Romania has bcome a full member of the EU. 10 billion Euros will be invested from now until 2010. These monies are planned for agriculture and infrastructure ensuring that the price of your private and commercial real estate will be set to increase significantly.
Get it while its hot!
Get it while its hot!
Friday, 15 February 2008
US Foreclosure Market as a Property Investment
Having spent six weeks looking at foreclosures in the United States, I have decided to wait a while before investing heavily. This crisis has not yet run it’s course and I feel there are more casualties to come.
A recent report released by RealtyTrac, an American foreclosure company shows some horrifying statistics- 2.2 million foreclosure filings in 2007 – a 75 percent increase over 2006.
I did buy a couple of properties in Florida – but these were new builds offered by developers rather than foreclosed properties. This is a safe place to buy right now and even if prices fall another few percentage points, the likely increase in the value of the dollar (I am spending Euros) over the next six months will wipe that out.
As for repossessions, much of the property is in a poor state of repair, and the luxury of buying new is attractive. There will be more developers joining the ranks of those who have elected to cut their losses very shortly and this is where to find the best deals at the moment. But, you need to be there, on the ground unless you have a trustworthy representative to act on your behalf.
But for my money, right now – play a waiting game as far as repossessions go – a further price drop is likely over the next 3 – 4 months.
If you are looking for foreclosed property, Mark has written a good guide to where to find government owned foreclosures here.
This is RealtyTrac’s 2007 report.
And this video is a good representation of what’s going on down in Florida right now.
Friday, 1 February 2008
Czech Republic Property News
The Czech Republic’s property market is primed for a second phase of accelerated growth which is catching the eye of investors across Europe, but it isn’t solely the strength of the economy that is driving this interest. Changing VAT laws will see UK investors flock to buy in Czech before new rates come into practice in 2008, according to Property Secrets Head of Research and Analysis Simon Tweddle.
Czech Republic Property News
The Czech Republic’s property market is primed for a second phase of accelerated growth which is catching the eye of investors across Europe, but it isn’t solely the strength of the economy that is driving this interest. Changing VAT laws will see UK investors flock to buy in Czech before new rates come into practice in 2008, according to Property Secrets Head of Research and Analysis Simon Tweddle.
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