Aldar credit facility announced

ALDAR properties, the renowned Abu Dhabi-based property developer, announced today a US$ 600 million Ijara facility, has been put in place for the company.

The Ijara facility is equally financed by Abu Dhabi Commercial, Abu Dhabi National Islamic Finance (a subsidiary of National Bank of Abu Dhabi (the Islamic Banking Division of Mashreq bank psc), Dubai Islamic and Noor Islamic .

Dubai Islamic Bank (represented by its investment banking arm, Millennium Capital Limited, regulated by the Dubai Financial Services Authority "DFSA") acted as structuring and documentation agent for the transaction, while National Bank of Abu Dhabi acted as security agent. Allen and advised ALDAR on the transaction while Clifford LLP acted as the banks’ counsel.

"The success of this transaction, particularly given the challenging global financial environment, is an important endorsement of ALDARALDAR’s track record. We are grateful to each of the participating banks for their support and we are proud to have Islamic finance contributing to our business model," said Ahmed Ali Al Sayegh, Chairman of ALDAR.

Further commenting on the announcement, Ahmed Ali Al Sayegh, said: "The successful close of this Ijara facility has again shown ALDARALDAR to be a reputable, trustworthy and sophisticated company in its approach to the debt markets."

The transaction has been approved by the Shariah Supervisory Boards of the lead arrangers, making it fully compliant with the principles of Islamic finance. The facility has a four year tenor and will be used for general corporate purposes in support of ALDAR’s business plan and growth model. For a full explanation of Islamic finance see this post.

Today’s announcement comes just a few days after Moody’s Investors Service assigned long term local and foreign currency issuer ratings of A3 to ALDAR.

Moody’s, a leading provider of independent credit ratings, research and financial information to the capital markets, has described the outlook for ALDAR as "stable." (Not exactly a strong endorsement) “ALDAR’s ratings are supported by its leading market position within the Emirate of Abu Dhabi, whose real estate market is bolstered by a combination of strong demographic growth and a growing domestic economy. Ratings also benefit from the company’s intention to build a significant rental property portfolio, which will ultimately support a stable and predictable income stream over the medium to long term," it said.

In February this year, the company won awards for its shariah compliant finanAcing, scooping ‘Best Mudarabah Deal’ and ‘Best Real Estate Deal’ from Islamic Finance News (IFN) as well as ‘Sukuk Issue of the Year’ from EuroWeek magazine. Prior to today’s announcement, ALDARALDAR had already secured funding in excess of AED US$9.2 billion to undertake the development projects through convertible bonds (sukuk), capital debt instruments and bilateral debt facilities.

ALDAR has announced developments worth more than US$65 billion since its launch in 2005 including Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, as well as the YAS Island project which includes a Warner Bros and a Ferrari theme park. ALDARALDAR has the largest land bank in Abu Dhabi comprising over 34 million square meters, 100% earmarked for specific developments valued at $12 billion as at 31 December 2007. The company is one of the largest UAE-listed property developers by market value and was the first Middle Eastern company to list a sukuk on the London Stock Exchange.

Aldar credit facility announced

ALDAR properties, the renowned Abu Dhabi-based property developer, announced today a US$ 600 million Ijara facility, has been put in place for the company.

The Ijara facility is equally financed by Abu Dhabi Commercial, Abu Dhabi National Islamic Finance (a subsidiary of National Bank of Abu Dhabi (the Islamic Banking Division of Mashreq bank psc), Dubai Islamic and Noor Islamic .

Dubai Islamic Bank (represented by its investment banking arm, Millennium Capital Limited, regulated by the Dubai Financial Services Authority "DFSA") acted as structuring and documentation agent for the transaction, while National Bank of Abu Dhabi acted as security agent. Allen and advised ALDAR on the transaction while Clifford LLP acted as the banks’ counsel.

"The success of this transaction, particularly given the challenging global financial environment, is an important endorsement of ALDARALDAR’s track record. We are grateful to each of the participating banks for their support and we are proud to have Islamic finance contributing to our business model," said Ahmed Ali Al Sayegh, Chairman of ALDAR.

Further commenting on the announcement, Ahmed Ali Al Sayegh, said: "The successful close of this Ijara facility has again shown ALDARALDAR to be a reputable, trustworthy and sophisticated company in its approach to the debt markets."

The transaction has been approved by the Shariah Supervisory Boards of the lead arrangers, making it fully compliant with the principles of Islamic finance. The facility has a four year tenor and will be used for general corporate purposes in support of ALDAR’s business plan and growth model. For a full explanation of Islamic finance see this post.

Today’s announcement comes just a few days after Moody’s Investors Service assigned long term local and foreign currency issuer ratings of A3 to ALDAR.

Moody’s, a leading provider of independent credit ratings, research and financial information to the capital markets, has described the outlook for ALDAR as "stable." (Not exactly a strong endorsement) “ALDAR’s ratings are supported by its leading market position within the Emirate of Abu Dhabi, whose real estate market is bolstered by a combination of strong demographic growth and a growing domestic economy. Ratings also benefit from the company’s intention to build a significant rental property portfolio, which will ultimately support a stable and predictable income stream over the medium to long term," it said.

In February this year, the company won awards for its shariah compliant finanAcing, scooping ‘Best Mudarabah Deal’ and ‘Best Real Estate Deal’ from Islamic Finance News (IFN) as well as ‘Sukuk Issue of the Year’ from EuroWeek magazine. Prior to today’s announcement, ALDARALDAR had already secured funding in excess of AED US$9.2 billion to undertake the development projects through convertible bonds (sukuk), capital debt instruments and bilateral debt facilities.

ALDAR has announced developments worth more than US$65 billion since its launch in 2005 including Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, as well as the YAS Island project which includes a Warner Bros and a Ferrari theme park. ALDARALDAR has the largest land bank in Abu Dhabi comprising over 34 million square meters, 100% earmarked for specific developments valued at $12 billion as at 31 December 2007. The company is one of the largest UAE-listed property developers by market value and was the first Middle Eastern company to list a sukuk on the London Stock Exchange.

Cosmopolitan Berlin - The Real Investment Opportunity

With high quality city centre apartments starting at around £50k up to £120k (€75k-€168k), Berlin is rapidly becoming one of the world's property investment hotspots - and those early birds looking for the juiciest worms will find themselves some tasty treats.

Berlin Real Estate Centre, with its wide, practical experience of the country, this week announced the sale of apartments in the much sought after area of Prenzlauer Berg.

The 34 units, all modernised over several years, are close to historic Mauer Park, famous for its weekend flea market and hugely popular family picnics. A big shopping centre is nearby, alongside many schools and a kindergarten, making Behmstrasse a much sought after location by renting Berliners who want to be near the city centre action. Capital gain is conservatively put at 7-8%. "We're aware that many pundits are predicting 20% growth in Berlin, but we prefer to be cautious," said UK director, Trevor Hudson.

Investors benefit from a full service package during the period of the investment, from finance through to exit strategy, including rental income guarantee.

Berlin Real Estate Centre staff are happy to arrange inspection visits based on their years of local knowledge of the city. To find out more about the Berlin property market and receive details of investment opportunities, please fill out the form below. Find out more at:
www.berlinrealestatecentre.eu

Article written by Berlin Real Estate Centre

Dubai Property. Good investment?

In 2002 Sheikh Mohammed bin Rashid Al Maktoum of Dubai had a vision to create the city of the future. In doing this and creating a truly cosmopolitan and global society, an international community would be required, and so the Sheikh decided to allow foreign investors to purchase property on Dubai soil.

Dubai and the UAE's future is focused upon creating a business and tourism environment second to none which centres around incoming foreign investment from commercial institutions and individual investors.

Why Invest in Dubai?

• Future Demand: Population is destined to increase from 1m to 3m whilst tourism will also triple from 6m to 15m, by 2010
• Future Supply: All master-planning is Government controlled to carefully manage the demand-supply ratio thus maintain strong growth & returns
• Capital Gains Tax: 0%
• Rental Income Tax: 0%
• Legal & Notary Fees: None required, although legal advice is recommended
• Land Registration Tax: 1.5% (this is paid to the Government on completion)
• Transfer Fee: 1-7% (this is paid to developer on resale of contract before completion)
• Buying Process: Simple. No Company formation is nor National registration required
• Payment Structure: Following an initial reservation deposit, a deferred payment structure is usually provided by the developer with payments spread over the construction period
• Finance: This is available to non-UAE residents only on certain projects, with competitive interest rates from 6 - 9%, and usually with 15 yr terms and reasonable conditions
• Capital Appreciation: Recent years have risen between 15 - 25% annually
• Rental returns: Recent years have returned between 10 - 20% annually
• Freehold: The right to obtain freehold rights on your property is provided with most non-UAE purchases of property. See below.
• Residency: Resident visas are supplied with non-UAE purchase on property
  

Purchase Procedure & Legal Costs

Purchasing off-plan in Dubai is a relatively simple process which does not require use of a lawyer, however of course Property Frontiers does recommend you do always take legal advice with any financial investment. All property investment available to foreigners in Dubai is within special zones master-planned by governmental organizations, and as a result the contract structures must be passed before the government before they can ask customers to sign. There is no capital gains tax or income tax within Dubai itself.

For more advice on purchasing property in Dubai, please contact us

Finance

Mortgages in Dubai are not yet the developed and versatile product we are gratefully accustomed to here in the UK, and they are not available on all developments. Each individual developer is required to negotiate for finance to be provided on a per-development basis. This situation is expected to change drastically once Freehold Law is ratified (see below).

Lenders (generally local banks, finance companies or HSBC Dubai) conduct due diligence analyses on those developments that have requested finance first, and due to the large marketing budgets and extreme aggressiveness of the market often these developments do sell out even before finance is available.

When finance is provided, such as with Al Hamra, the loan will most likely have a maximum term of 15 yrs and be of repayment status only (no interest only loans). Interest rates vary between 6% and 8% and as with the majority of overseas loans for UK investors, an individual's net disposable income is required to be roughly 3 x the figure for the monthly mortgage repayment. Loans usually offered range from between 50% to 75% LTV.

The service we offer investors:

Property Frontiers carefully selects property investment opportunities from politically stable countries that indicate excellent economic growth, have internationally respected legal systems, stable currencies, attractive tax policies and will provide strong investment yield and growth.

Though research we saw the UAE had good investment potential so we have selected a variety of investments in and around the Dubai Emirate which offer different advantages and cater for all types of investors depending upon what they hope to acquire and achieve with their investment, hence, you may notice that we do not list many of the open market properties that often have an "agents margin" attached to the selling price. Please click here or see below for a listing of some of the properties we are promoting in Dubai.

For Property Frontiers to recommend the best investment for you, it is important you can first honestly answer these simple questions:

1. What is your budget and will this increase over the next 2 years?
2. Will you prefer financed investments or are you able to invest with cash?
3. What is your time scale for investment, when may you want to exit?
4. Is this for long-term investment of short-term profit?
5. When are you looking to take ownership of your property? Are you looking for early completion or are you prepared to wait a few years?
6. Do you have any particular size, feature or location requirements of your property?
7. Will you be managing the property yourself or would you prefer a managed and guaranteed return, such as with The Cove?

Morocco Property Market

Morocco Property - A sought after new investment market

Morocco property is currently becoming one of the world's leading luxury emerging markets. It is popular for many reasons but one of the major considerations is the excellent price that luxury Morocco property can be purchased for during this era of major development and construction.

High build quality and the relatively low relative cost of Moroccan property makes Moroccan real estate market a very attractive option for investors.

Further factors to be taken into account are coupled with the Morocco's excellent expected capital growth in Morocco and the already solid and ever-increasing "Buy to Let" market.

Find out more about property in Morocco and investment property in Morocco by using the links below.

Moroccan Property Market Overview

With the reform-minded King Mohammed VI at the head of a multi-billion dollar initiative, Vision 2010, tourist numbers are due to increase dramatically by 2010 (see our Morocco investment research - investment growth). The plans extend to all economic sectors, including the infrastructure, telecommunications, electricity, banks, insurance, education, health services with a view to maintaining them to the world-class standards expected from today´s foreign investors.

The Vision 2010 initiative has ear-marked 6 areas or resorts for major development and these will be the locations of most of the new property developments in the near future. Focus is on five star luxury facilities which are being brought about by an advanced infrastructure outside and within the resorts, and easier access to and from ports and airports to the resorts. This attracts increasing numbers of investors and second home buyers to property in Morocco.

Tourist numbers continue to increase due to the Open Skies initiative, inviting budget package airlines to extend their services to Moroccan airports. Low cost, direct flights are now available from most major ciites in Europe, making Morocco an increasingly popular tourist destination. With the construction of quality new hotels and properties now in full-swing, Morocco is well equipped to handle increased tourist numbers as well as to offer investors some potentially excellent buy-to-let options and high rental occupancies.

Morocco Property Investment

Morocco is believed to be one of the best options available to you for real estate investment today. Property can be purchased in Morocco for a great deal less than in most other destinations and has the added benefit of having an already established and rapidly growing "buy to let" demand. Capital growth is expected to be considerable with estimates of between 15% and 30% being very common.

Reasons why property in Morocco is a good investment

• Property prices are currently very competitive.
• With the low cost of living, it is possible to experience a luxury lifestyle at relatively small expense.
• The property market in Morocco is currently booming and looks set to continue to do so for a considerable time.
• Capital growth is estimated at around 15% - 30%, based on last year´s figures ( Homes Overseas Magazine quotes the growth to be nearer 30%).
• Capital gains tax stands at between only 0% and 20%.
• Inheritance tax is not charged.
• Property tax is not charged during the first 5 years.
• Rental occupancy currently reaches around 85% during peak season and it is set to increase as the Vision 2010 tourism drive continues.
• 70% mortgages are currently available * Vision 2010 to provide additional infrastructure and new roads, marinas, trains, 5 star resorts, shopping malls, beach clubs, thus increasing visitors to the area.
• The Open Skies policy allows competition for Moroccano air routes. It will
  generate competition, increase services and dramatically lower air fares.
• Yacht club and mooring fees are under £27/month. These are turning even the most wealthy away from the more traditional ultra expensive Mediterranean resorts.
• Beautiful sandy beaches with crystal clear water.
• Stunning golf courses, tennis clubs, riding clubs, waterskiing, sailing, scuba diving, hunting, hiking, camel treks, culture attract all types of tourists and investors alike.
• The Mediterranean climate bringshot summers and mild winters, permitting
  year-round tourism.
• French, Spanish and English is widely spoken, as well as traditional Arabic.
• The Costa de la Luz is just thirty minutes away by hydrofoil from Tangiers.
• Morocco is easily accessed through Tangiers via helicopter, ferry or on regularflights to Casablanca, Agadir or Tangiers.

We recommend that potential investors take a look at our Investment Property in Morocco - section to see current investment opportunities as well as information that may help you to invest successfully in Moroccan property.

Home/holiday home buyers in Morocco

Morocco offers the chance to purchase luxury property on a stunning 5 star resort with all related facilities at a very low price. The warm climate and excellent on-site facilities will allow you to enjoy outdoor living to the full.

For the second home buyer in Morocco, additional income can be generated from renting the property andproducing good yields especially in the high season. Many people find that expenses (even including mortgage payments) can be off-set for the entire year, purely due to profits from rentals generated during the high season months (June to September).

Lebanon Normal Service Resumed?

Although Lebanon witnessed an economic slowdown in 2007, real estate activity during the year has proved to be quite resilient to the said trend prevailing in the country.

The rise in real estate activity can be attributed to several reasons such as the increase in population, higher demand by expatriate Lebanese, the relatively low taxes in Lebanon, the improvement made in terms of property transfer operations, and the facilitation of foreign ownership.

According to the Directorate of Real Estate, the number of property transactions reached 154,158 in 2007, up by 21.4% relative to 2006. Nevertheless, although the first half of the year saw a good 7% growth, the cumulative yearly double digit rate in mainly coming from a 38% increase in the second half of 2007 in comparison with the same period in 2006.

This half-year rise, in turn, mainly stems from an 82% surge in the third quarter of 2007 relative to the same quarter of 2006 that witnessed a freeze in real estate operations during the severe Israeli war, and to a smaller extent, from the 14% year-on-year increase in the fourth quarter of 2007, noting that in the last quarter of 2006, the number of property transactions more or less resumed its pre-war level.

Property taxes’ receipts increased by a significant 32.2% during 2007 to LP 459.7 billion, but this is again the impact of the 95.3% growth reported in the second half of the year that compares to the odd second half of 2006, which was largely shaped by the summer 2006 war and following events, whereas the previous six months the receipts went down 16.4%. The effect of this second half also changed the trend in the value of property sales which was down by 12% in the first half only to become 33.7% higher when comparing full year 2007 to 2006 and reach LP 6,329,056 million. As for the average value of property transactions, it went up by 10.2% during 2007 to LP 41.1 million per transaction, driven by 55.2% year-on-year increase in the average value of property transactions during the last quarter of 2007, thereby reversing the trend of demand for less expensive real estate that has been consistent throughout the first nine months of 2007 and resulted in a year-on-year drop of 8.1% in the average value of transaction during the said period.

The majority of collected property taxes in 2007 were in Beirut with 42.2% of the total amount. It was followed by Baabda with 19.0%, the Metn area with 15.8%, the Keserwan area with 9.3%, the South with 5.4%, the North with 4.8%, and the Bekaa area with 3.0%

New Red Sea Project

Gamsha Bay, Egypt

Egypt property investment

Dubai, UAE, 5th December 2006: DAMAC Properties, Middle East’s largest private-sector luxury property developer, today announced its entry into Egypt with the launch of its 320 million sq. ft., Gamsha Bay project – the largest development in the region. The agreement was signed during the Arab Strategy Forum 2006 in the presence of the Prime Minister of Egypt, Mr. Ahmed Nazif. The agreement was signed between Mr. Khaled Makhlouf, Chairman of the Tourism Development Authority, and Mr. Hussain Sajwani, Chairman and Founder of DAMAC Holding Group. This prestigious event was attended by Zohair Garranah, Minister of Tourism, Dr. Youssef Boutros Ghali, Minister of Finance, Dr.Mahmoud Mohiddin, Minister of Industry, Mr.Mohammed Mansour, Minister of Transport and Samy Saad Zaghloul, Sectretary General.

Gamsha Bay will be the region’s largest township, located at the north of Hurghada; Gamsha Bay will offer residents a wide array of housing options, entertainment venues and recreational amenities including an innovative extreme sports adventure theme park.

Gamsha Bay will be divided into 9 distinct zones – Gamsha Marina, Marina Park, Coral Golf Course, Sea View Crescent, Creek Retreat, Gamsha Bay, Peninsula Luxury Villas, Downtown Gamsha and Extreme Sports World Theme Park. The township will be built in five phases over 10 years, with the initial components of the first phase completed within the next five years.

“We at DAMAC are delighted to enter this exciting new market, and are grateful to the Egyptian government for their confidence in us, lending their support and enabling our vision for Egypt,” said Mr. Hussain Sajwani, Chairman, DAMAC Group. “Gamsha Bay, with its environmentally conscious design, innovation and architecture will surely set a benchmark for the real estate marketplace in the region and will further influence economic development,” he added.

“I am proud to be present at this prestigious launch. Within driving distance to Cairo, and close to Sharm El Sheikh, Hurghada and El Gouna, Gamsha Bay which is located 60km north of Hurghada will offer the very best of Egypt - with its coral reefs, hills and beautiful coastline. I am sure this world class development will boost the economy of this region and create new attractions for tourists. The other important aspect of this project is on the employment front as this mega project will require several hands to put the masterpiece together,” added Mr. Sajwani.

“The Gamsha Bay project will offer residents an open scenic environment with 39 kms coastline and 25 kms of beaches. Customers will have over 55,000 units that include - villas, townhouses, retail establishments, shopping centers, marinas, apartments and several other amenities to choose from.

In terms of its most unique offerings, Gamsha Bay will bring a first-of-a-kind Extreme Sports Adventure Theme Park to the region. Continuing the tradition of convenience and luxury associated with the DAMAC brand, the township will include spa resorts, a world class golf course, a marina village, educational facilities, cinemas, shopping boulevards and scuba diving facilities.

Among the companies other developments in the region - in downtown Amman, Jordan, within the new Abdali development area, DAMAC Properties has already introduced three projects out of four. The first two projects, ‘The Heights', a 35-storey tower, and ‘The Lofts’ an 8-storey residential development adjacent to the tower were completely sold out in record time. The third project called ‘The Courtyard’ was unveiled in November this year.

DAMAC Properties won three prestigious awards at the CNBC Arabian Property Awards 2006. Property developer bagged the best development award for ‘Oceanscape’, best architecture award for ‘Ocean Heights 2’ and the best website award for the company’s website – www.damacproperties.com. In 2005, the property company was honored with three prestigious Bentley International Awards in the categories of - Best UAE Development for Marina Terrace, Best Architecture for Ocean Heights-1 and Best Developer website at a ceremony in London.

DAMAC Holding has now grown into a global conglomerate with over 6000 employees in 18 countries. Being the first private sector company to make a commitment to Dubai’s real estate market, DAMAC Properties has become the market leader with a strong sales record to its credit.

Even the Martians must have heard the crunch coming from planet Earth, so loud are the announcements being hurled at us almost daily.

So where does one put one's hard earned money in these perilous times?

Well even a Martian can work out that Egypt is about as good as it gets when it comes to property investments. Why?

Well many investors won't need to take credit or a loan to buy their Egyptian property. The reason? Simple. Prices in Egypt are still LESS than a deposit on your average BTL property in the UK. On a £150,000 property a typical buy-to-let mortgage is 85% loan to value so you have to stump up a 15% deposit. That is £22,500.

In Hurghada studios at the British built Pyramids 2 resort start at £16,300.The most expensive studio is £21,000 ...ahem do I hear a Crunch? The only crunch in Hurghada will be the happy property owners sandals hitting the beautiful sandy beaches just minutes from the 7,000 sq m landscaped gardens that adorn the Pyramids 2 property. For those who want to splash out more, say six figures ...well you can't! The most expensive property in the development is £54,500. Half a run down terrace house in the UK crunch zone. In Egypt it gets you a 115 sq m three bedroom Penthouse just 250m from the sea.

With property prices growing at well over 20% per annum now is definitely the time to head for Egypt the eye of the proverbial hurricane in this instance.

Tahir Ali MD of Egypt Revealed who specialise in assisting UK and Irish clients to source quality Egyptian property maintains things are still on the up and up for Egypt.

"We are very much in a period of rapid growth for the Egyptian market. This is being fuelled by massive increases in tourist numbers and now Easyjet is making the Red Sea Riviera more accessible as budget airlines now fly direct to Hurghada. These holidaymakers will need accommodation. So the logical consequence will be that the rental market will now become firmly established in the area." says Ali.

Cyprus - Property For Sale In Paphos - Buy A Piece Of History

It is easy to see why people are drawn to look for Cyprus property for sale in Paphos. Paphos offers some of the most beautiful coastline scenery in the world. Many people come to Paphos simply to relax and experience the Mediterranean lifestyle. History buffs come to Paphos for the ancient Roman and Biblical ruins.

There is also a thriving fishing industry which operates out of the port. For vacationers, Paphos offers a fabulous sunny climate and superb resorts that can meet any budget. Paphos is a thriving modern community which attracts many permanent residents and tourists.

The nearby International Airport links Paphos with many places around the world and direct flights to most major European cities are frequent. Modern highways link Paphos to the other major cities and towns. The town has a major hospital, which offers sophisticated medical procedures to world class standards.

There is also a major sports complex, where games are played year round and several schools, where English is taught as a required subject. Anyone who has looked at homes for sale in the Mediterannean will agree that you should look at Cyprus property for sale, and in Paphos in particular. It will be an asset that you can use and count on.

Purchasing is better than renting - owners never have the worries that renters have. They don’t have to be concerned with the fine print or surprises with their bills - there is no Council Tax and utilities cost a fraction of what most Europeans are used to paying. Owning your own holiday or permanent home ensures that you will feel relaxed and in a comfortable environment that is always available to you. Inexpensive Cyprus apartments are hard to find these days, as the demand for property to meet the rising number of people looking for budget self catering Cyprus apartments has inevitably driven prices up. If you do research on Cyprus property for sale in Paphos you will see that it has been a great investment in recent years.

If you look to the internet you can find several resources that will back up this statement. Tourism in the area is steadily increasing and there is no expectation of a slow down to come. If you buy a Cyprus villa it should be quite simple for you to rent it while not using it, providing an extra income. If you decide to permanently relocate then you should be able to sell your vacation home easily to upgrade to something better virtually any time. Anyone buying here will most certainly be happy with their choice. Just one night of relaxation enjoying the warm Mediterranean breezes will be enough to convince anyone that buying Cyprus property in Paphos is a decision they won’t regret. You will love the lifestyle here, and whether you’re on vacation or relocating to Paphos, buying property there may be the best investment you ever make!

India property market set for massive change

The India property market is on the cusp of a massive change. Land prices in India have quadrupled over the past three years as developers paid major sums for land to build developments of luxury housing, with starting prices upwards of $250,000 per unit.

The number of people earning over $5000 per year is expected to double to more than 20million in the next two years, not least because of the 2.5 million students teaming out of Indian universities each year. And land prices are expected to fall again in the near future, as developers realise that the real demand in India is for affordable housing.

David Stanley Redfern Ltd got in on the new trend early with their Mountain View development in Rudrapur, in which 2 bedroom apartment were available for under £30k. Mountain View is almost completely sold out now but another development is being built just up the road, and it will also offer affordable housing, ready to capitalise on the massive demand there will be for such housing in the next two years.

Demand which there will certainly be in Rudrapur, which was designated a Special Economic Zone by the Indian government, offering tax incentives for companies to move into the area. And move into the area they did, with some 450 new factories being built, or already trading on what will become a massive industrial estate on the outskirts of Rudrapur.

These factories will employ 300,000 people when they are finished, at least 50,000 from outside the area and who will definitely be looking for affordable housing to rent, meaning owners of Rudrapur apartments will cash in on the residential lets. But it is also a fairly safe bet that even those employed in the new factories from within the area will be looking for affordable rented accommodation; people living with parents using their new wage to fly the nest, and staff members pairing off and seeking accommodation to move in together.

The latter will also probably mean people from the area looking for homes to buy in 2-5 years, people getting promoted will also bring home sales in the foreseeable future. All in all the future is bright for Rudrapur, and India property as a whole.

Montenegro property: Europe's next big thing?

According to many various reports, Montenegro is shaping up to be the next big thing in European tourism, and property investment. Last month direct flights began between London airports and Montenegro, which immediately made the country more popular with tourists and property investors, and Montenegrins are gearing up to fully capitalise in the increased popularity of the country.

Plans are being drawn up to turn Montenegro's coastal areas into massive tourism resorts, and the masses of money being poured into the infrastructure since last year, is beginning to take effect, and work is still ongoing across the country.

Tourism revenues for such a tiny country were over 1billion dollars last year, and visitor numbers were far higher than the small countries population.

Property prices have risen considerably since Montenegro became popular, but you can still get a real bargain if you know where to look. David Stanley Redfern Ltd are currently marketed two extremely good value Montenegro properties.

The Lakeside Park apartments are the second release on the Lakeside Park developments, following the incredibly popular Lakeside Park chalets, which sold out recently. The development is, as the name suggests, on the banks of Slano Lake, near Montenegro's second largest town, Niksic. But you would never know it, the location is like a snapshot advertisement for the beauty of Montenegro's countryside, rolling hills, sweeping valleys and an environment that you can really relax in.

Of course for those who want to be active, there is fishing and water-sports on the lake, bird-watching, walking, and Niksic has all amenities and facilities for a perfect family holiday. Prices start at just £25,000 for a 1 bedroom apartment.

David Stanley Redfern Ltd's other Montenegro property is in the beautiful coastal peninsular of Lustica, nr the small village of Zambellici. The development is a short-way from Montenegro's beautiful coastline and only 10mins from Tivat international airport. Again Lustica is as picturesque as anywhere else in Montenegro, but has added extra's like medieval towns and villages in near perfect condition, perfect for sightseeing and history buffs. Prices start at £50,000 for a 1 bedroom apartment in Lustica.

The Weis Group, a Wall Street Fund, and specialists in buying distressed real estate, raised further recently growing hopes that 2008 could be the year that American property prices bottom out and begin recovering. Last week The Weis Group told U.K. newspaper, The Times that it was in talks with some of America's big banks, about spending its 1billion dollar investment fund on purchasing hundreds of properties that had been reclaimed by the banks, with a view to selling in 3-5 years.

Many analysts have already put their money where their mouth is and stated that they believe 2008 will be the year of the U.S. recovery, a massive property investment specialist like Weis Group confirming their research will make their statements a virtual reality in the eyes of international property investors.

Liam Bailey, head of international research for David Stanley Redfern Ltd gave us his thoughts on American property.

"I have been saying for some time of the great irony: that the buying frenzy triggered by the U.S. subprime crash, as the combination weak dollar and falling property prices had people from the U.K. and around the world taking the opportunity to get their dream home/investment property in the states at a bargain price, might actually start a recovery in the American property market, and it seems I may not have been too far wrong."

David Stanley Redfern Ltd took on American property just last year, on that very belief, that the American property market had fallen almost as far as it was likely to, and the beginnings of a recovery were just around the corner. DSR's client's who have invested in the American property, could in 3-5 years, it seems, be very glad they did.

Managing Director of the overseas property specialist, David Redfern had this to say: "It is always nice when you make a move that some people may quietly think is risky, and some of your competitors may even have a sly snigger, and it proves to be massively successful move for both you and your clients. As our research department said a few months back, and has maintained fervently ever since, 2008 looks like being the year the U.S. recovery will begin, but there still looks like being a little time for investors to get in on the low priced action."

Abu Dhabi Property Growth Stimulus RAKAA Sells 70% of Dynasty Tower

RAKAA Properties, one of the region’s preeminent real estate companies, has announced the selling of 70% of the Dynasty Tower and 55% of Falcon Crest Tower, two of the company’s signature projects situated in the prestigious Al Reem Island, Abu Dhabi.

Commenting on the occasion, Dr. Abdul-Rahman Al-Tasan, CEO of RAKAA Properties, said "the successful promotion of our projects through the gatherings we are participating in has helped draw in a huge interest in our properties and helped us sell around 70% of Dynasty Tower and 55% of Falcon Crest Tower in a record time ."

"The distinguished features of the two projects and the world-standards techniques used in their development, not to mention the convenient investment climate enjoyed by Abu Dhabi, now becoming the center of attention and admiration for businessmen and investors, are all factors that have helped secure considerable demand on our developments."

In the meantime, Dr Tasan has underscored the importance of the recent customs duty waiver on cement and steel, hailing it as a prudent decision from a man of vision.

"The decision is an expected move by a man with a unusually keen foresight. It is likely to further heat the already fierce competition in the property market and stimulate more growth. We still expect more such decisions that help check the burdening inflation."

The Marina Tulip Tower, the Dynasty Tower and the Falcon Crest Tower are all smart technology equipped and feature stunning views that overlook the sea and the island’s mangrove trees. The project also boasts swimming and gymnastics halls and gardens in each of its three towers.

The Dynasty Tower will be solely dedicated to residential purposes at a height of 29 storeys, where there will be 136 apartments ranging from one to four bedrooms and the Falcon Crest Tower boasts 24 floors allocated for residential purposes with limited retail spaces.

Abu Dhabi is witnessing a rapid economic growth that is encompassing all its economic sectors and urban developments, boasting a large share of the UAE construction and property market.

Whats next for international real estate?

Granted, mostly developers exhibit, but intermingled in the enormous space the exhibition centre occupies, are government representative offices, service suppliers, as well as some resale agents.

From what we have seen in the past, I can safely say what we see there usually hits the retail market about 1 to 2 years later. Last year, amongst other things, I found some fantastic off-plan products in Mexico from one developer, and whilst the European way of doing business is a little different, we have been able to promote their developments through our Mexico section to supply those that are looking for a property somewhere different from the masses. Whilst Mexico as a tourist and investment destination is still young at present, it will undoubtedly grow as people realize the high quality standards available there, as well as the rental returns that are possible.

In the trade newsletters that are sent in the run up to the show, we can get a good idea of what we can expect to see and from which countries, this year it would seem that over 40,000 units will be being promoted in total, with the Latin-America market accounting for more than half of that, an 8% increase on what was displayed last year.

After last year’s show I signed up a resale agent in Uruguay with a handful of listings to see what the interest level was like, and broaden what we can offer on Propertyshowrooms.com and, whilst a little slow initially, interest in Uruguay is growing at a phenomenal rate.

Eastern Europe was heavily featured last year, which I am sure will be repeated with many Spanish developers now setting up shop in the former Communist states. With the introduction of the Euro across the former Soviet states, businesses are making the transition very well and quality product is being produced.

It will be a very long 3 days of walking, talking and coffees, trying to communicate in a multitude of languages, whilst still dealing with things back at the office. But I expect to return with a number of promising new and exciting things to expand again what we can provide here at propertyshowrooms.com.

If there is anything specific or unusual you would like to see on our site, leave a comment on the blog or forum, and I will see if we can find it!

By Peter Mindenhall

Is Turkey new Spain?

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

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.

Happy Birthday to Saeed from World Property News!

كل سنة و انت طيب

From
Ahmed

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!

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.

Czech Republic Property News

Time for UK property investors to check out the Czech Republic

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

Time for UK property investors to check out the Czech Republic

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.

Abu Dhabi and Dubai Public Housing Issues

Both Abu Dhabi and Dubai are currently facing the issue of lack of housing for the local population. It is ironic when you consider the enormous amount of construction that has taken place there over the last few years.

Most of this construction has, of course, been aimed at the luxury and tourist markets, leaving a big gap in the middle to lower income brackets.

Abu Dhabi

A shortage of 20,000 housing units by the end of the year could increase inflation and raise the cost of living in Abu Dhabi further, according to a recent study. The solution is to freeze prices, according to the study, released by the Abu Dhabi Chamber of Commerce and Industry. Here are a few snippets from the report:

“In 2008, housing projects will target highly paid executives while people with low and medium income will be affected by the shortage and high rent.”

“The housing shortage will inevitably increase rents and put more stresses on people who pay more than 40 per cent of their income in housing.”

The population of Abu Dhabi increased by 100% over the past few years causing the shortage to become acute. “In 2005, the supply and demand was levelled and there was no shortage in housing. In 2006, there was a shortage of 3,000 units. By 2007, the shortage rose to 8,000 units,” the report said.

While the direct impact may be an increase in the cost of living, the report said the shortage could ultimately create a vicious circle that could affect the overall performance and competitiveness of the country.

Despite dozens of housing projects underway in the capital, the Chamber says this will not meet more than 20 per cent of the shortage.

According to the report, the solution to this ever-growing problem is to freeze rent prices for two years, to develop a housing plan to meet low and middle income demands and to encourage the private sector companies to create some low income construction.

Khalfan Al Ka’abi, chairman of the Chamber’s construction committee disgreed, oddly enough, and said freezing rents would only bring more chaos. “Freezing the rent is a very bad solution because this would freeze all investments. The solution is more units. More units will inevitably cut down prices,” Al Ka’abi said.

While the concept of freezing rents may sound idealistic to renters. Ka’abi says this move would discourage developers from building.

“We need to motivate more investors. The solution is that the government needs to give more land and the developers to build more. There needs to be a better platform where more developers can build. You can not just depend on master developers who will build cities and islands. The government must encourage all sizes of developers,” Al Ka’abi says.

According to previous chamber reports, the ideal annual rent should not exceed 25% of a yearly income, but the average person currently pays more than 40 per cent on housing alone.

“Salaries have gone up but they have been consumed by an increase in the cost of living so we are back to where we started. Once the supply matches the demand that’s when prices will start to level,” Al Ka’abi said.

Similar problems are being faced in Dubai, although they are taking a more pro=active approach.

His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, recently announced the construction of 40,000 villas for nationals in the country.

After a whirlwind tour of the country’s central and eastern areas, Shaikh Mohammed said that Dh15 billion will be earmarked for the new housing program for nationals that embraces the whole of the UAE.

He issued directives to the Minister of State for Financial and Industrial Affairs. Shaikh Mohammed also said that he has instructed the Ministry of Social Affairs to immediately double the budget for social assistance allocations for nationals to Dh2.2 billion. This reaffirms his desire to see that citizens benefit from this program and achieve a better lifestyle.

Shaikh Mohammed also said that a cabinet reshuffle was on the cards next month.

He was accompanied by Mohammed Abdullah Al Gergawi, Minister of State for Cabinet Affairs, Dr Mohammed Khalfan bin Kharbash, Minister of State for Financial and Industrial Affairs, Sultan bin Sulayem, Chairman of Dubai Ports, Shaikh Hamdan bin Rashid Al Maktoum, Chairman of Dubai Executive Council, and Editors-in-Chief of Arabic and English newspapers in the UAE.

The Top Overseas real estate investment: Morocco 2007-2008

GOT a few Euro, Pouds or Dollars to spare and considering investing it in the Morocco property market?
problem? you've got the dough but don't know where to go for a bargain which will see healthy returns for years to come.
More and more of us are turning to overseas property investment - Balgaria, Romania, Spain, France, Morocco- the ultimate nest egg and a great excuse for a pleasant holiday every so often.
As lucrative as foreign investment proves to be, finding the right place can be as difficult as ever. I don't think so. You need to be in the right hands with professionals and honest overseas property agents, brokers, or investors.
As Moroccan British and Canadian Investors We met many of them here in Morocco. Directors of International real estate,investors and developers to ask their tips for hot global property spots in 2008.
All of them confirm that The overseas property boom has peaked especially in Morocco in 2008.
we feel optimistic investing in properties and land development in all over Morocco of course, People here invest wisely," said Carlos this week.
Top of Carlos list is the northern Morocco. The emerging property hot spot made waves in 2007-2008 and is set to become the place to invest over the next years 2009-210.
“Topical at the moment is Morocco in North Africa which is now seen as a winter sun destination considerably nearer and cheaper than other places. With year round sunshine and only a 2hours and 40 minutes flight away from London, 7 hours from Montreal and New York. The north Coast of Africa is beginning to make its mark on the world stage," explained Adam and Carlos who are investing in real estate and land development in Morcco and Spain more than 30 years.
International real estate and famous also recommends Morocco as a result of the area's tourism boom. With large hotels now opened on the desert resorts, the atlantic and the Mediterranean coast of Morocco and cheaper and better flights availability, prices are soon expected to rise on property, land and holiday accomodations.
Adam and Carlos: "Rentals too should prove excellent as this is a year round destination due to its constant good weather and therefore empty periods can be avoided."
Carlos Frontera explained that Morocco Property Investment second hot tip for 2008. Areas such as Dubai, Bahrain, Mexico and other parts of South America are all pegged to the dollar sign, and make for happy investment this year, but they know they have to move to Morocco property and tourism business because they already know how to fallow the money growth. And they know all it's Morocco Time.
Today Adam among Morocco the top investment spots. All the Spaniards learned from the past in the south of Spain...Now they are grabing land and property in the north coast of Morocco to sell them for more money to the Brits but the French are managing themselves in Morocco because they know the south of Morocco better grabing cheap land in Mirleft, Agadir, and Aglou, Ourika, Taroudant...
Spain has suffered a dip in popularity from property tycoons. Morocco affords easy access, has a good infrastructure and still improving it, has miles of stunning beaches untouched by an urban landscape and can offer good potential.
But he also added that would-be property moguls buy only from reputable investors and brokers who can guarantee land ownership.
Staying within North Africa especially Morocco,Adam recommends cities in Morocco, particularly Asilah,Teouan, Oued Law, Larache, Moulay Bouselham, El jadida, Merlift, Aglou, Tiznit, Marrakech, Oukayemden, Ourika, Fes, Taroudant, for healthy investment returns.
As Investors and brokers we know that Eastern Europe, particularly Bulgaria, has seen a high volume of sales due to heavy marketing and low price entry to the market...but what about other advantage like the weather, the atmospher, the food...etc, Canada has become popular with investors and keen skiers who are prepared to travel. There is a new ski resort causing a lot of attention; Fernie. This offers excellent rental potential with a wide choice of brand new properties close to the slopes, But most of people do'nt know that there many places where you can ski in Morocco, sorry the French know because they have been living long time in Morocco. Would you like to ski in North Africa? Go to Morocco, Oukayemden near Marrakech and Mishlifen near Ifrane, Fez...

Copy Right Posted By Morocco Property investment

Attracting Overseas Property Buyers to the U.S.A.

As the U.S continues to struggle with issues created by the sub prime crisis, the lending climate in the U.S (confused) is encouraging more and more American real estate agents and owners to market their inventory overseas.

The Wall Street Journal is suggesting this as a good strategy and have some suggestions for attracting an overseas buyer. We think this is a great idea, but are not sure about some of their suggestions.

They suggest that one good way of doing this is to advertise in foreign newspapers, but this is an impractical option for several reasons – just try making an international telephone call to an Italian newspaper and explain that you wish to use your U.S based credit card to purchase a classified advertisement in their paper. And it may not have escaped your attention that many non-U.S websites are not exactly state of the art.

If, perhaps, you plan on targeting several International newspapers that have a strong online presence, possibly this would work, but on the whole – this approach is completely impractical and expensive.

There are any number of websites offering the facility to advertise property for free on their site – unfortunately, they are rarely visited, cumbersome to use and often have a charge to pay – at the end of the registration process.

Also, they are suggesting using websites such as forsalebyowner. Trust us, if you are looking for foreign interest, this is not the place to go – this website is not visited by a significant amount of visitors from overseas looking for a property investment opportunity. A small amount of visitors from Canada and the U.K. perhaps.

Most British buyers are looking for property in Las Vegas, New York city and Florida – that’s where the U.S. stops as far as they are concerned. A few perhaps are more aware and will be looking at the outer banks or California, but far and away the majority will stick to what they know.

So, if you have property to sell outside the most well known areas, the first thing you will have to do is sell the locale – very few outside the U.S will have heard of most of the towns you have property to sell in.

There are a few exceptions off the beaten track – and if you have a property in somewhere like Ashville, NC or Charlottesville, VA or in the Ozarks, you already know that you get some UK visitors. It is of course unlikely that a UAE property development company will be interested in a house in suburban Missouri ☺

Here are a few suggestions as to sensible places to advertise if you are looking for overseas buyers, bearing in mind that a good proportion of these will come from the UK, Russia and Western Europe:

The London Times
The Times online has a good classified section with an overseas section (the US counts as overseas) and the Sunday Times is particularly well read. You can place ads here both online and the print version – the best bet if you have a high quality property is the Sunday Times print version.
The New York Times
The New York Times is also well read outside the US and foreign property buyers are more likely to look here than forsalebyowner etc.
Totally Property.com
This company rightly points out that if you are trying to sell in to the Russian market, you will need representation on the ground.
Mondialhouse.com
Mondial is a French property company that offers the facility to advertise on their site. Well used with properties from most European countries – except the US - They do have this facility, but are listing no properties from the US as yet. They also have an English language interface.

Recent announcements of Projects in the Middle East

The Middle East continues to bring out new investment property projects. Dubai, Bharain, Abu Dhabi all competing to build the most prestigious property developments in the world. These are some new projects, recently announced.

17th January

Fakhruddin Properties, a UAE-based developer, yesterday, said it plans to develop a $68 million residential project called Grand Lagoon alongside Dubai Creek.

According to the press release, “When complete, the Creek will be home to residential towers, shopping malls, commercial buildings, five-star hotels and marina. A “city within a city”, the Grand Lagoon project itself is a 100 per cent freehold development, located at Al Sedaifa district, one of the seven interlinking islands set among a lush, green waterfront,”

17th January

Emaar Properties has strengthened its roster of premium residential projects within Downtown Burj Dubai - the new centre of the city - with the launch of tower one, the first of two Standpoint towers. Located on Burj Dubai Boulevard, the vigilantly designed Standpoint offers residents a fresh and distinctive perspective to modern living, offering an array of lifestyle choices.

Located on Burj Dubai Boulevard, the two Standpoint towers are situated in close proximity to Burj Dubai, the world’s tallest building. Standpoint also offers residents easy access to already-active retail and hospitality offerings, with the Souk al Bahar mall and The Palace, Al Manzil and Al Qamardeen hotels, positioned either side of Burj Dubai Boulevard.

13th January

Deyaar, the region’s fastest growing real estate company, unveiled “Bristol Towers” - a uniquely designed $0.4 billion twin tower project at Business Bay.

With the launch of Bristol Towers, Deyaar now has 12 projects on Business Bay. Its properties rank amongst the most sought after in the development.

Announcing Deyaar’s latest project, the company’s Chief Executive Officer, Zack Shahin said, “We are proud of our portfolio at Business Bay as each of our projects has been very well received by our customers. Bristol Towers are the jewel of that collection. The project is amongst the largest and most exquisitely designed undertakings at Business Bay, with premium facilities”.

9th January

Tashyeed Properties launched it’s Sukoon Tower – A 45 floor, luxury residential tower in Juffair, Bahrain, with plans for 592 apartments. This will also be a freehold development.

“At Tashyeed Properties we want to enhance people’s lives through the development of new homes and commercial buildings. With Sukoon Tower we plan to develop a landmark project close to the waters edge in Juffair that residents can make their own urban haven,” said Dr Kadhem Rajab, Chairman of Tashyeed Properties.

It would appear the property development in the region is far from over. These new developments alone will be adding somewhere in the region of 6,000 new investment property opportunities.

If you’ve always dreamt of buying a property abroad but have erred on the side of caution and never actually taken the plunge - fear no more. GEM Estates is offering investors the opportunity to purchase their own freehold home as part of the stunning five-star Pyramisa Beach Resort Hotel set within Sahl Hasheesh, Hurghada, Egypt. With prices from just £39,950 and a guaranteed lifetime rental income of 7% per annum (about £2,800), you can’t go wrong.

Already open since April 2007 and enjoying occupancy rates in excess of 85%, the Pyramisa Beach Resort comprises studio and one and two bedroom suites set right on the sandy shoreline. Five restaurants, swimming pools, a beach bar and a health & beauty club are on tap for owners and guests and should your head still want to lead your heart, prospective purchasers can ‘try before they buy’ as the initial 10% payment (£3,995 for a studio) is refundable until private purchase contract.

Samuel Mond, GEM Estates’ Egypt expert comments, “Pyramisa Beach Resort is a property investment to silence the sceptics. Worries about off-plan purchase are assuaged as the hotel is a successful going concern and a lifetime of guaranteed rental income at a healthy rate keeps the books balanced. Service charges are an absurdly low £5 per square metre per annum so there are no hidden costs to baulk at. Additionally a 60% mortgage is available for seven years at a fixed rate of 7.5% and, just to sweeten the deal, there is a guaranteed buyback after one year of ownership on all units at initial purchase price. Throw in capital appreciation at rates of around 15-20% per annum and this is a serious investment hotspot.”

Pyramisa Hotels is the leading private hotels chain in Egypt and listed on Egyptian stock market. Purchasers within the Sahl Hasheesh hotel have the right to up to eight weeks private use per year, plus for 35 euros per person per day you get unlimited food and drink. There is also the option to exchange part of that usage in any of the Pyramisa resorts. With six to choose from including Cairo, Luxor and Sharm el Sheikh, your investment will never become tedious.

The stunning 32 million m² Red Sea complex of Sahl Hasheesh is fast becoming an exclusive destination for Northern Europeans. Flanking 12.5km of sandy beaches, the resort will have no less than 20 hotels (five-star minimum) and eight golf courses by the time completion comes round in 2014. There will also be a cinema complex, a ‘sunken city’ with ancient ruins specifically for divers, bars, restaurants, authentic Egyptian marketplaces, a marina and first-rate sport facilities. A Sir Norman Foster co-designed resort at the southern tip of Hurghada is selling property at ten times the price of neighbouring developments showing the high expectations for the Red Sea resort.

In total there are 550 premium units within the gated Pyramisa Beach Resort, all offering great scope for investment. Each looks out over the hotel pools, gardens and boasts frontline sea views. Prices start from £39,950 for a studio, £87,890 for a one-bedroom suite, and from £219,600 for a two- bedroom suite. The service charge for these properties is a stunningly low £5 per square metre per annum, and there are four payment structures offered to purchasers – this is one bull that you can confidently grab by the horns.

Billionaire Pays Highest London Property Price

Lev Leviev has just paid a record amount for a new home in the U.K. - $70 million

Leviev, an Israeli diamond billionaire, apparently plans to settle in London to avoid paying taxes in his adopted home country. Which is a little strange when you consider the amount of Brits avoiding their British income tax burden by setting up shop in Monaco or the Middle East.

The seven-bedroom house is in Hampstead, a London suburb. The house came complete with a $1.5 million stone staircase, an indoor swimming pool with gold plated mosaic tiles and a reportedly $100,000 bullet proof front door.

Possibly the most unusual feature of the property is a topiary bush that reputedly cost $40,000 to shape.

Leviev is reported to be worth between 4 and 7 billion dollars and rate by Forbes as number 278 of the wealthiest men in the world. He is also fond of inflicting his strong religious beliefs on those around him. He made news several years ago when he apparently purchased a shopping mall so he could ensure the multi-plex cinema inside would close on Jewish religious holidays. He has also been recently quoted that he is very dissatisfied with the present political situation in Israel and also in the manner in which many non-religious Israelis are living, including their desecration of the Sabbath and religious holidays.

Tourism booming in Southern Morocco: Morocco to create desert resorts in south

Tourism and property investment market continue rising in Morocco and Moroccan with foreign investors are still looking for more development and investment in this authentic and unique country full of cultural and business contrasts. Thanks to His majesty the king of Morocco Mohamed VI who is looking always to improve infrastructures, law, security enforcement, environment, social living, responsible tourism and property development removing all the obstacles for everyone who is looking for to join the business market in Morocco and to get a huge propfit in a short time with low cost and absolutely no risk.

The last news: Morocco's Ministry of Tourism announced it will create desert and oasis resorts in the southern regions of Errachidia, Ouarzazate and Zagora at a total cost of $14.4m, Tourism Minister Mohamed Boussaid said on Thursday (January 10th). The minister said the resorts will include three hotel units, inns, campgrounds and facilities aiming at promoting the local craft industry. The projects are expected to create approximately 6,000 jobs.
6.72 million tourists visited Morocco between January and November 2007, an increase of 14% over the same period in 2006. Morocco has developed an ambitious strategy dubbed "Vision 2010" which aims to attract 10 million tourists per year by 2010.
Property investment and Land development in Morocco

Copy Right Posted By Morocco Property investment

Germany's Property Market Set to Outperform its Neighbours

Iain Keys, manager of London & Capital's German real estate fund, claims the German property market is unique enough to warrant a fund of its own. In particular, he believes the German economy is set to outperform its neighbours with the positive benefits to its property market. "It's so attractive because its long-term prospects are much stronger than in other countries," Keys says.

The Hartz IV labour market reforms introduced a few years ago have helped to boost employment and property prices. Keys said,""All the fundamentals are sound and there is fantastic growth potential, greater than in other countries."

The fund is invested entirely in commercial real estate. According to Mr. Keys, the current credit squeeze has had more of an impact on Germany's office market than its retail market. The fund's portfolio will target retail properties such as supermarkets and retail parks. Distribution warehouses are also popular. The average lot size is €20m (£14m).

The fund will look to diversity in various regions of Germany helping to minimse risk. The German market is known to be fragemented where current agents tend to be specialise only in their particular region. Hamburg, for example, is a hub for advertising and media, while Frankfurt is a centre for financial services.

The Cayman listed fund was launched in March 2006. The aim is to achieve a annual return of 15% after fees.

Source: Ellen Kelleher, Financial Times

Knight Frank to Launch US$1 billion Fund in India

Rutley Capital Partners, the private equity arm of Knight Frank, will launch a US$1 billion Indian housing fund. For more than 12 years Knight Frank has had over 600 agents advising in India but this is the first time the partnership, one of the largest UK firms of property agents, is committing its own money to the project. In addition to using its own funds, Knight Frank hopes to attract outside investments to the new fund managed by Rutley Capital Partners, its private equity arm.

Knight Frank's push to invest in India, is part of a multi-billion dollar flow of investment into the country led by the US private equity market.

Source: The Times

Pamporovo Expecting 2 New Ski Lifts and Ski Runs

A new six-seat ski lift and two new ski runs are planned between Bulgaria’s Pamporovo ski resort and the village of Stoykite. According to the Mayor of Stoykite, assuming everything goes to plan, the ski runs and the lift will be ready for the open of the 2008-09 ski season. As the public debate on the environmental impact of the project has yet to be held, the Mayor of Stoykite Ivan Malkochev confirmed the information and said the procedure is complex and slow.

The cutting where the new lift will pass is ready, as it starts from the center of Stoykite and reaches Snezhanka peak in Pamporovo. The total length of the ski lift will be 2,992 m (approx 1.86 miles) with the the two ski runs reaching almost 5 kilometres or 3.1 miles, among the longest in the resort of Pamporovo.

Mayor Ivan Milkochev hopes that the new construction will also facilitate the total renovation of the old drag lift and ski slope located just above the village of Stoykite, as they are in close proximity to the new planned facilities.

Source: BulgarianProperties.com

Now is the time to invest in the Costa del Sol

Forget Bulgaria, Morocco, Brazil, The Dominican Republic and all the other exotic places being touted as the places to invest in property. The Costa del Sol currently offers real value for money and genuine potential for capital growth in the medium term.

Spain has always been, and will continue to be, one of the most popular holiday and retirement locations in view of the political stability of the country and ease of access being a mere 2 to 2 ½ hour flight from many cities in Europe. In fact it has been easier and quicker to get to the Costa del Sol from the U.K. than from some other parts of Spain.

However, this is now about to change as new High Speed Rail links, due to commence by the end of this year, bring the cities of Madrid and Barcelona within easy reach of Malaga City, the gateway to the Costa del Sol, and will offer a genuine alternative to flying.

Starting on the 23rd December the AVE High Speed train will cover the journey from Madrid to Malaga in 2.5 hours and the link from Madrid to Barcelona which begins on the 21st December will mean that you will be able to travel to Malaga from Barcelona in 6 hours, including a one hour stop over in Madrid. This will be vast improvement on the current journey time of around 13.5 hours.

Adrian Head of New Ventures Spain said “ we are already experiencing increased interest in properties from residents of these two major Spanish Cities as well as from Cordoba which will also benefit from the new rail links.” Adrian added “although the train times are still longer than flight times by the time you consider the hours spent in airports for security checks, baggage collection on arrival and flight delays, the train is probably not any slower and will allow more luggage to be carried as well. And there are other factors. The rail link from Malaga along the Costa del Sol currently ends at Fuengirola. It is intended that this will be extended to Estepona providing easy access to all the resorts throughout the Costa del Sol either for visitors arriving by train to Malaga or flying to the airport where there is already a railway station.”

Prices in the Costa del Sol have been falling and bargains are to be had. Adrian says “ we can offer two bedroom apartments with two bathrooms on a complex with parking and community pools for as little as 175,000 euros (around 120,000 pounds) and we were recently offered a villa in a prime location valued at 1.9 million euros for just over 1million euros. These sorts of properties will not be around for long and with increased capacity at Malaga airport and new routes opening up, including direct flights to Moscow all year round starting at the end of October, we expect renewed interest from here as well.”

The message is clear. If you want to invest in a safe proven market the Costa del Sol cannot be ignored but don’t leave it too late or you may miss the boat or should that be the train!

Article written by Prestige Homes & Holidays

2008 Property Hotspots – Singapore and Bulgaria

The latest Knight Frank Global Price Index reveals that growth in residential property markets around the world is slowing. On an un-weighted basis prices globally rose by 8.2% per annum to Q3 2007 compared to 9.6% 12 months earlier. Rising interest rates have been a major factor in slowing house price growth, together with the tightening of lending criteria seen in many European countries.

The latest release of the Knight Frank Global house price index shows considerable changes from those seen in recent quarters, where the pattern of strong growth in Baltic markets was becoming almost routine. Latvia has been firmly knocked off the top spot by the recent EU newcomer – Bulgaria. Despite numerous concerns over the level of oversupply in a number of locations within Bulgaria – notably the winter ski resort of Bansko and selected coastal resort locations – Bulgaria has supplanted the previously top performing Baltic hotspot at the top of the Knight Frank league. Else where in Europe, German prices have continued to fall, where they Scandinavian market has remained robust.

US Property Bargains

The US housing market is in a slump, no one would question that, but a slump offers bargains as well as disasters. What was an un-affordable property just a year or so ago, may well now be within reach and many real estate investors are on a bargain hunt at the moment.

The slump is likely to continue for the next year or so at least, so don’t expect a quick “flip,’ at the moment. But for those with patience and the cash to weather the storm, the US domestic market is looking like a good long term investment. So where are the bargains to be had?

Some areas are holding up better than others and certain parts of the country have seen a much slower downturn in prices. New York, Manhattan, is still seeing record prices in the luxury condo sector for instance and some new developments in Chicago and Philly are still managing to sell out in the pre-building phase.

Others have not been so lucky. Florida for instance is seeing the highest levels of foreclosures in history. Look to Florida for a bargain or two. The only problem with Florida is the market there is likely to be slowest to recover so it will have to be sat on for some time. Even then it is unlikely to rebound to the sort of levels seen just a few years ago when flippers and overzealous real estate agents managed to push prices up to unrealistic levels. Much of California urban development suffers the same problem.

Our recommendations? Charlottesville, VA; Austin and Houston, TX; and Durham, NC. These markets have seen less recent damage, but are all forecast to grow at reasonable levels in the short to mid term. Foreclosures in most areas can also offer substantial savings, but, once again, don’t expect to be able to flip it for a quick profit.

Italy Remains a Key Target Market for Encore+ Commercial Property Fund

LaSalle Investment Management and Morley Fund Management have announced the acquisition of three properties in Italy and France on behalf of their joint venture Encore+, a pan-European fund investing across the European Economic Area outside the UK.

The acquisitions in Italy are part of the major logistics hubs to the south of Rome and Padova. The properties located in Anagni and Rovigoare respectively, are already 50% pre-let and under development. The three buildings will provide more than 116,000 square metres of grade A logistics assets.

The Paris property located at 7-13 Boulevard Paul Emile Victor is an office building comprising 3,500 square metres and includes such tenants as Roche Pharmaceuticals. This off-market deal through purchase of holding company shares, totals the property value at approximately Eur 17m.

According to Gil Bar, fund manager of Encore+, the acquisitions will bring the fund's anticipated gross asset value to approximately Eur 663m. Since its launch in June 2006, Encore+ has performed strongly producing an internal rate of return of near 18% over the past 12 months.

'Both acquisitions represent the fund's core commercial property interest,' stated LaSalle acquisitions director Andy Watson. 'Specifically, Italy remains a key target market for Encore+."

Encore+ is a monthly priced and dealt, open-ended fund with a balanced portfolio of commercial property with a core-plus emphasis.

LaSalle Investment Management, a member of the Jones Lang LaSalle group, is a global real estate investment manager with US$ 47bn assets under management. Morley, the UK-based asset management business of insurer Aviva, managed a total of GBP168bn in assets worldwide as of June 2007.

Source: Hedgeweek