News

Investment Watch: Brazil beats April alternatives

Ivan Radford — Wed, 16 May 2012 15:17:00 GMT

Brazil beat all of April's alternatives, reveals TheMoveChannel.com's latest Investment Watch.

The report, which ranks the level of interest in the portal's listings, saw Brazil work its way back to the top of buyers' lists again last month. A coastal development of new villas in Rio Grande do Norte was the most popular property listing on the site in April, with investors choosing South America's beach houses over an off-plan resort in Mexico and discounted apartments near a golf course in Marbella.

Brazil's offering was nothing new - the same property was TheMoveChannel.com's most popular listing in February - but buyers were attracted once again by the country's booming economy, which offered another place to invest far away from Europe's ongoing financial slump. Indeed, the Brazil listing received over twice as many enquiries as April's second most popular property: a commercial land plot in the UK.

But investors looking for eurozone substitutes also turned to other alternative investments: carbon credits in particular generated a lot of interest, with two separate schemes becoming the fourth and tenth most popular listings on the portal. Fine wine and renewable forestry investments also proved popular, receiving the fifth and eighth highest number of enquiries for the month.

Like Brazil's beach resort, these opportunities have all ranked in the site's top listings before but as global economic uncertainty continues, their popularity appears to be increasing; indeed, this is the first time that four alternative investments have appeared in the Investment Watch Top 10, suggesting a gradual growth in awareness and demand for the sector.

Director Dan Johnson comments: "We've observed the rise of alternative investments in previous months, but the level of interest shown in April indicates that investors are not only becoming more familiar with the range of opportunities available for their capital but are also acting upon it. It's important to note, however, that the alternative listings still received fewer total enquiries than Brazil's beach villas. As the eurozone malaise continues, demand for products such as carbon credits may become stronger, but they still have a way to go to rival the stability and appeal of bricks and mortar."

Cristina Lopo, Marketing Manager of Aspen Woolf, developer of the Pipa Beach Resort, explains the property's appeal: "Pipa Beach Resort has been TheMoveChannel's most popular property listing twice already this year. It's a premium investment opportunity in one of the most amazing locations in the world - and for just 99,800 EUR with spread payments over 4 years.

"Pipa welcomes over one million tourists a year, so buyers can enjoy their property year‐ round both in terms of investment and an unforgettable holiday experience. These attractive conditions are generating remarkable growth and prosperity. With the Brazilian economy growing 5.5% in 2013 and 6.0% in 2014, Pipa Beach Resort is becoming a desirable destination not only for holiday makers, but also international investors around the world."

The Top 10 investment properties for April 2012 are as follows:

Rank	Property	Country	Partner
1	New Coastal Villas, Rio Grande do Norte	Brazil	Aspen Woolf
2	Liquidation of Commercial Land Asset	UK	Obelisk
3	Beach Resort Lots, Quintana Roo	Mexico	AIHG Mexico SA De CV
4	Carbon Credits Scheme	UK	TPG Media
5	Renewable Forestry Scheme	UK	Emerald Knight
6	Tenanted Homes, Georgia	USA	Quality Property International
7	Golf Course Apartments, Marbella	Spain	Target Markets Ltd
8	Fine Wine investment opportunity	UK	TPG Media
9	5* Serviced Apartments, Liverpool	UK	Property Frontiers
10	Carbon Credits Scheme	UK	Strategic Carbon Solutions

Notes to Editors

Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

The website address is http://www.TheMoveChannel.com and the office address is 24 Jack's Place, Corbet Place, Spitalfields, London, E1 6NN.

Singapore home sales highest since 2009

Ivan Radford — Wed, 16 May 2012 12:53:00 GMT

Singapore home sales were the highest since 2009 last month, according to new reports.

Excluding executive condos, private home sales in April 2012 reached 2,487, reports Property Guru, the highest since July in 2009, when 2,772 homes were sold.

Despite this, Singapore property transactions experienced a monthly dip, falling 12 per cent from March. But overall, activity is up, with sales still 40 per cent higher than April last year.

The most popular development was Katong Regency in Paya Lebar. It sold every single one of its 244 units at a median price of S$1,709 per square foot.

"Millions of homes at risk" from inadequate insurance

Ivan Radford — Wed, 16 May 2012 12:43:00 GMT

Millions of Britons are "putting their homes and possessions at risk" after taking out inadequate insurance, according to MoneySupermarket.

The price comparison website's survey, published this week, found that one in 10 homeowners in theUK are missing insurance cover by only taking out either buildings or contents insurance.

Of these, nearly 1.5million have just contents cover, while 1.3million just have buildings insurance. A total of 650,000 residents have no form of home insurance at all, adds the report.

Peter Harrison, insurance expert at MoneySupermarket, said: "Homeowners without adequate buildings and contents insurance are taking a huge risk by leaving their homes unprotected, and are potentially storing up a financial catastrophe in the event of a major incident, which could even leave them homeless."

Students expect WiFi and ensuites from university homes

Ivan Radford — Wed, 16 May 2012 12:38:00 GMT

Wi-fi, en-suite facilities and communal areas are the most important features for higher education students when choosing accommodation according to a recent survey by Unite, developers and managers of purpose-built student accommodation in the UK.

As well as these demands, Unite also discovered that location, security, price and cleanliness are important factors for a happy student life and as a result, universities across the UK are pushing hard to ensure that they can accommodate today's student requirements.

While UK universities are working to provide new-build and refurbished student accommodation there is a continuing need for more to be built in order to cope with surging demand. The current shortfall in specific higher education accommodation is reinforced by the Unite survey which discovered that 17% of students currently live at home, while another survey of school-leavers carried out at the end of 2011 found that 16% were planning to live at home in 2012-13.

Ray Withers, CEO of student property investment specialists, Property Frontiers, comments,

"Although there has been a very small reduction in student applications this year, most likely caused by the introduction of increased tuition fees, the UK has some of the world's best educational institutions and we will no doubt see a growth in student applications next year once the dust settles.

"Indeed, it is of the upmost importance that we continue to build high quality student accommodation to meet demand and student's expectations. Universities alone cannot be responsible and this is why we are now in our 9^th purpose built student accommodation project in one the UK's biggest university cities, Liverpool. These investments allow us to meet the student demand for housing whilst providing our investors with the opportunity to own one of the best asset classes around. All our completed student projects have achieved 100% occupancy so the results speak for themselves!"

Withers continues,

"But it's not just investors that are a concern to us. We at Property Frontiers are meeting the demands of students with all our student accommodation developments with Wi-fi, en-suite bathrooms and shared common rooms as standard, all situated in the thriving city of Liverpool."

One such happy customer Paula Gomez, who is studying in Liverpool, chose to live in Streatlam Tower, one of Property Frontiers previous student projects commenting,

"I came to Liverpool to study English. Since I arrived 4 months ago, each day I am happier living here. The house is well situated near the city centre and all rooms are well equipped with everything you need including Internet and TV. Additionally, each floor has a huge kitchen and several bathrooms. Being away from home is hard but the truth is that living here has made things much easier."

Miami agent expands to meet demand

Ivan Radford — Wed, 16 May 2012 12:37:00 GMT

Demand for Florida property is high right now. So high, in fact, that a Miami agent has expanded to cope with surging activity from overseas investors.

Announcing the launch of a new international version of its website, Interinvestments Realty said that it would "connect us worldwide 24/7", reports OPP.

""Our Broker- affiliates can integrate their local business connecting with our website, and completing their referral business online. But what is more important is their access to the South Florida's housing market. Now they can showcase New Development on their own web portal! International buyers and Internet homebuyers are here to stay, and this is one of the ways that we will be conducting our business in the future," added president Emilio Jose Cardenal.

The news is the latest sign that Florida's real estate market is on the way back up. Earlier this week, the state accounted for seven of Realtor's Top 10 Turnaround cities in the US, as the area's inventory of foreclosures continues to decline in the face of increasing transactions and prices.

South Koreans double spending on overseas property

Ivan Radford — Wed, 16 May 2012 12:32:00 GMT

South Korean buyers stepped up their foreign investment in a big way at the start of this year, doubling their spending on overseas property in the first three months of 2012.

$49.5 million was spent on real estate abroad between January and March - a staggering increase from $27.7 million in the final quarter of 2011.

America was top of the list, according to the government, accounting for 64.2 per cent of all purchases,, although this percentage had actually decreased from 77.9 per cent in the first quarter of last year. South Koreans also purchased $3.5m worth of property in Australia, splashed $3.2m in Canada and $2.9m in Hong Kong. $2.7m was spent on property in the UK, just ahead of Singapore ($2.3m) and the Philippines ($1.6m).

"South Koreans' acquisition of overseas real estate is unlikely to improve for the time being due to the delayed recovery of the U.S. housing market, a key target of acquisitions, and global economic uncertainty," commented the Ministry of Strategy and Finance.

Source: OPP

Scottish sales pushed up by first time buyers

Ivan Radford — Wed, 16 May 2012 12:17:00 GMT

Sales of Scottish property were pushed up in March by a glut of first time buyers, according to the latest LSL Property Services/Acadametrics report.

First time buyers rushing to beat the end of the stamp duty holiday saw transactions increase by 15 per cent, driving prices up by £792.

Gordon Fowlis, regional managing director of Your Move, an estate agency chain that is part of LSL, comments: "The end of the stamp duty holiday for new buyers sparked a glut of last-minute-merchant activity from first-timers rushing to beat the deadline, and prices rose for the second successive month as a result.

"That so many first time buyers were able to piece together a deposit in the midst of economic downturn is testament to the strong underlying demand from buyers desperate to get onto the property ladder. Despite having to cross a relatively high threshold to get a mortgage, there is still strong appetite from buyers who are anxious to avoid remaining stuck in expensive rental accommodation that can be a black-hole for personal finances.

"But that doesn't hide the fact March's surge in first time buyer activity was a one-off caused by the stamp duty rush. Banks and building societies are having to contend with increasing funding costs imposed by the problems in the financial markets, and will be forced to scale back their lending to borrowers with low deposits. As a result, activity levels in the early summer will fall back to the suppressed levels we've become accustomed to. The prospects for the housing market over the coming months will be tightly bound to the fallout from the European financial crisis, which could hamper banks and building societies' ability to satisfy the high demand for mortgages.

"The positive headline figure for March does camouflage regional volatility of prices. Local house prices have had mixed fortunes: only 15 of the 32 local authorities in Scotland have seen house values rise over the last year. Both Glasgow and Edinburgh metropolitan areas have seen prices fall by 1.9% in the last year, despite a wave of activity from buy-to-let landlords looking to snap up flats to use for rental accommodation. On a local level, the fortunes of house prices are heavily dependent on the performance of their immediate economies, particularly the impact of public sector austerity and the threat of unemployment."

Dubai villa rents rise for first time since 2009

Ivan Radford — Wed, 16 May 2012 12:04:00 GMT

Dubai villas recorded their first rise in rents since 2009, according to CBRE.

The company's latest Dubai report found that rental rates grew in the first three months of 2012, welcome news for investors following price drops of up to 60 per cent since 2008. The strongest growth occurred in two-bedroom properties, where lease rates rose by 5 per cent, closely followed by five and six-bedroom units, which saw rents increase by 3 per cent.

The report also showed that Dubai villa prices increased by 3 per cent in the first quarter of 2012, suggesting that the market is starting to get back on track. Apartment prices jumped as well, with the value of one-bedroom and three-bedroom flats rising by 2 per cent.

The total value of residential transactions in the first quarter of the year reached AED3.1 billion, 9 per cent higher than the final quarter of 2011.

CBRE predicted "area-specific strengthening" of rents, sales and occupancy rates due to low levels of supply in developed locations, with limited new inventory expected in places such as Emirates Living, Arabian Ranches and Palm Jumeirah. The commercial property sector is expected to have a flat year, however, as new supply keeps rents below 2005 levels.

Source: Arabian Business

UK property valuation activity slows in April

Ivan Radford — Wed, 16 May 2012 11:31:00 GMT

Activity in the UK residential property valuations market slowed in April, according to Connells Survey and Valuation.

The firm's Housing Market Activity Report found that the number of residential valuations carried out last month fell by 32 per cent compared to March. First time buyers saw a 28 per cent dip in the number of valuations, although this has mostly been attributed to the flurry of activity in March, driven by the end of the stamp duty holiday.

However, overall market activity remains in good health compared to 2011, with 23 per cent more valuations conducted in April than the year before. First time buyers are also increasing activity on an annual scale, now accounting for 31 per cent of all residential valuations in the UK.

Corporate Services Director John Bagshaw comments: "The valuations market has not come to a standstill by any means... however for momentum to begin building again in the short term, it is crucial lenders don't withdraw support for high LTV lending in the face of a technical recession and the ongoing eurozone crisis."

Bagshaw added: "A blip in first time buyer activity was to be expected after many buyers brought forward purchases to beat the end of the stamp duty exemption. In turn, fewer chains were freed up, reducing the number of home owners able to move compared to March. In spite of this, it is encouraging that both home mover and first time buyer numbers are in better shape annually, pointing to underlying resilience in the market."

The report also showed that buy-to-let activity was on the up. Despite a 32 per cent monthly decline in valuations, April showed an annual jump of 33 per cent.

"Both buy to let and remortgaging have been key to the annual improvement in the valuations market. Buy to let mortgage rates have remained competitive in recent months, and this has helped boost the demand from landlords looking to take advantage of healthy yields and strong underlying tenant demand," said Bagshaw.

‘News that we are back in recession is likely to kick the prospect of a rate rise in the near future into the long grass, which will keep payments historically low for many borrowers, giving those on trackers less motivation to shop around. However, the trend of increasing variable rates will underpin demand for remortgaging and this sector is likely to see steady growth in coming months."

Source: Property Wire

DIY spending drops to 15 year low

Ivan Radford — Wed, 16 May 2012 11:15:00 GMT

The amount spent on DIY by homeowners in the UK has dropped to a 15 year low, according to new research.

A report published by Lloyds TSB last week found that households across the country spent a total of £7.8 billion on DIY, or £300 per house, the lowest total since records began in 1996. Compared to 2004, when £15.5 billion was spent on DIY in the UK, the figures represent a significant fall in home improvement as financial worries tighten people's purse strings. Indeed, DIY spending has fallen by 17 per cent, allowing for inflation, from 2010.

Lloyds TSB Housing Economist Suren Thiru commented: "Consumers have been experiencing the biggest squeeze on their discretionary income for over a year. Couple that with a very subdued housing market, and it is unsurprising that so many are cutting back on home improvements. With economic conditions expected to remain challenging, the current squeeze on spending on both DIY and tradesmen is likely to continue for some time yet."

Video – Why is it important to have a deposit when applying for a home loan?

admin — Wed, 16 May 2012 09:51:00 GMT

Having a deposit is extremely important when applying for a home loan. John Symond, of mortgage broker Aussie, shares his thoughts on why this is.

Watch his advice on TheMoveChannel.tv:

http://www.themovechannel.tv/2012/05/why-is-it-important-to-have-a-deposit-when-applying-for-a-home-loan/

UK continues to join the renting revolution as prices stabilise

admin — Tue, 15 May 2012 13:31:00 GMT

Photo credit: Myxi

According to the latest findings by the Association of Residential Letting Agents (ARLA), the cost of renting property in the UK appears to be levelling out. Despite the huge demand for rental property and reports of rising rents across the UK, research suggests that the amount of rent being charged is beginning to stabilise. Explaining that reports of significant rental increase have fallen, the ARLA attribute the recent stabilisation to an increase in haggling amongst other factors. The stabilisation of rent prices could potentially lead further people to turn to the lettings sector where demand for property already continues to outpace supply. So why has renting become so popular?

What are the benefits of renting a flat?

There are many reasons that renting has become an attractive option in the current economic climate. Young professionals searching for jobs must be prepared to move in an employment market that demands flexibility. Flats to rent in London are often the only viable option for those living in and around prime real estate. As such, many see no point in setting up home when they may have to move again. For those that want to settle down, first time buyers face the difficulty of being accepted for mortgage finance and raising a suitable deposit. There are many people turning to the rental market in hopes of finding more affordable homes to live in.

The high house prices we are currently experiencing in London and throughout the UK mean that the demand for rented flats has increased. The simple truth is that many potential first time buyers are simply struggling to get their foot on the property ladder and yet don't want live with family. Renting offers a perfect solution. As a tenant you don't feel tied into a commitment, you can move home more easily and you can share with friends and like-minded people.

So, what other benefits are there to renting a flat rather than buying a house?

You don't have to live on your own you can share with friends
You don't have the same commitments as a homeowner
You usually only have to give one month's notice and so it's easy to pack up and move on
You can get a fully furnished flat which means that you don't have to spend a load of money on furniture
If you don't enjoy gardening , rentig will suit you more than buying
Renting is an affordable option compared to buying
You are not responsible for repairing the flat (or its contents if it's fully furnished)
You don't have to pay house insurance, life insurance etc

If you are looking for rental properties in London or further afield, Zoopla is the UK's leading market resource for a one-stop Property Finder. Have all the tools at your fingertips to track down the perfect rental property for your needs. Browse online today and find a property to suit your taste and budget.

What’s happened in Vegas?

Ivan Radford — Tue, 15 May 2012 13:28:00 GMT

At the end of 2011, Las Vegas' housing market looked set to be on the rebound, with investors taking a gamble on the foreclosure-hit state. Sales were up by 18 per cent in February 2012, according to the Las Vegas Association of Realtors, while sales continued to climb in March as prices stayed low.

But now mixed signals are coming from different reports.

CoreLogic found that Vegas house prices fell 5.1 per cent in March 2012, as distressed sales held the market values down for bargain hunters. But at the same time, the Greater Las Vegas Association of Realtors reported that the median price of single-family houses sold in April jumped by 4 per cent March to $127,900, a promising sign even though median condo prices suffered a monthly drop of 1.8 per cent.

Then, Fiserv Case-Shiller's forecasts arrived. The mortgage firm predicted that prices would fall by 15.9 per cent in the second quarter of the year compared to 2011, reports Hispanic Business, with decreases gradually slowing into 2013. Even then, however, prices would still post an annual decline of 3.3 per cent.

So what's happening in Vegas?

The demand is certainly there from investors looking for cheap property, while the state's inventory of foreclosures is starting to be cleared up. Indeed, the total number of transactions in April (according to the GLVAR) was down compared to March, but still higher than 2011.

And the same is being reported across the USA, as the National Association of Realtors declared last month that the market had finally turned the corner.

"The precipitous drop in home prices was an immediate cause of the last recession and the financial crisis. Falling home equity has cut into household consumption and has further constrained the economic recovery," David Stiff, chief economist at Fiserv, stated this week.

"However, very low prices have also started to draw in more buyers. As demand for houses ramps up, construction activity will increase and residential investment will begin to make a substantial contribution to the recovery and GDP (gross domestic product) overall."

Whichever tracking statistics you choose to follow, the market recovery may still be a long way off, but what's happening in Vegas definitely isn't staying in Vegas.

Ready to bet on America's recovery?

Browse our listings of houses, apartments and cheap US property:

http://usa.themovechannel.com/property/all

China house prices continue to fall

Ivan Radford — Tue, 15 May 2012 13:10:00 GMT

China's house prices fell in the first quarter of 2012, according to Knight Frank and Holdways' report, which found that the values of new homes in 20 major cities declined by 6 per cent from their last peak in the third quarter of 2011.

This peak marked a 90 per cent rebound from the trough at the start of 2009, adds the report, following comments from the Premiere Wen Jiabao that house prices "have yet to return to reasonable levels".

Speaking at the National People's Congress, he confirmed that the government's policies designed to tighten the market would stay in place, as the country's "wait-and-see" attitude saw prices fall by up to 55.5 per cent quarter-on-quarter in Dalian, 46.1 per cent in Shenyang and 27.4 per cent in Beijing.

There were quarter-on-quarter declines in the adjusted prices of primary homes in 18 out of the 20 cities, with the only exceptions being Tianjin and Ningbo. Taiyuan and Shanghai registered the largest quarter-on-quarter falls in price levels with respective declines of -8.5% and -8.1%.

Mr Thomas Lam Ho Man, Director of Research and Consultancy at Knight Frank in Greater China, commented: "China's housing sector is not expected to rebound during the second quarter of 2012 and inventory levels are likely to stay high. Developers will face huge funding pressure if residential sales remain poor and banks maintain their credit tightening policies. More developers are likely to try to recover funds by lowering prices, while others may be forced to transfer the ownership of their projects in order to lower their debt ratios. We expect the prices of primary homes to further drop."

#Santander signs up for #NewBuy scheme

Ivan Radford — Tue, 15 May 2012 12:54:00 GMT

Santander has become the fifth lender to sign up for NewBuy scheme.

The lender announced its participation in the government's scheme to help buyers purchase new build properties this week.

Housing Minister Grant Shapps welcomed Santander's announcement as the NewBuy Guarantee scheme gathers momentum.

NewBuy is designed to help those looking to get on or move up the property ladder the opportunity to do so with just a fraction of the deposit currently required. Santander will initially be working closely with four different housebuilders to offer 95 per cent mortgages on their new build properties.

The products available will include:

3 year fixed at 5.49 per cent with a £99 fee

5 year fixed at 5.49 per cent with a £99 fee

7 year fixed at 5.99 per cent with a £99 fee.

Grant Shapps said:

"It's great news that Santander will start offering its customers deals on NewBuy Guarantee properties. As one of the UK's biggest mortgage providers, their participation demonstrates the growing enthusiasm by lenders to get involved in this scheme, and will boost the range of options customers can choose from when buying their newly-built home.

"The NewBuy Guarantee is offering a ray of hope for thousands of people who thought their dream of home ownership might never happen. Thanks to the agreements the Government is striking with lenders and builders across the industry, those aspiring to get on the property ladder are now able to do so with a fraction of the deposit they needed before."

Phil Cliff, Director of Santander Mortgages, Santander said:

"Santander is delighted to be joining the NewBuy scheme and has launched a range of competitively priced products with low upfront fees which reflect our commitment to NewBuy and customers, particularly first time buyers looking to get a start on the housing ladder. The range will have wide appeal and is designed to meet the needs of both first-time buyers looking to buy their first home and existing homes owners who are considering moving house.

"Sales of new homes have suffered since the economic downturn in 2008 and borrowers with smaller deposits have found it more difficult to access funding to purchase new homes. NewBuy has collectively brought together lenders, builders and the Government to provide a solution to increasing the supply of affordable credit on new build homes. The NewBuy scheme provides a strong platform to help get the overall housing market going and will also have positive benefits on the wider UK economy."

Cyprus sales sink for almost 22 months in a row

Ivan Radford — Tue, 15 May 2012 12:39:00 GMT

Cyprus property sales have been steadily sinking for almost 22 months in a row, according to new figures from the Land Registry.

461 property purchase contracts were submitted in April this year, 15 per cent fewer than April 2011, as transactions continue to shrink across the country. Indeed, with the exception of January 2012, when the market saw a year-on-year increase, sales have dropped every single month since June 2010.

The latest slump follows a string of price cuts and legislation reforms, but Cyprus' economy has sapped local demand. Even with 26 per cent of contracts submitted in April belonging to overseas investors, transactions are now 70 per cent below the market peak of 2007.

The only region to see an increase in domestic activity was Paphos, which remains a popular hotspot for property buyers, while Limassol was the only region to see overseas investment increase.

"The government still has much to do to repair the Island's tarnished reputation abroad resulting from the on-going delays in issuing Title Deeds and the actions of unscrupulous property developers," adds Cyprus Property News.

First time buyers hit by bank restrictions

Ivan Radford — Tue, 15 May 2012 12:27:00 GMT

First time buyers were hit by bank restrictions in April, as lenders cranked up their deposit requirements in the face of eurozone financial concerns.

As a result, mortgage approvals for first time buyers fell to their lowest level for 9 months, with loans on typical first time buyer properties falling to 11,307, 5 per cent down from March and 1.2 per cent lower than April 2011.

Indeed, this is the third successive month in which first time buyer loans have fallen, according to e.surv Chartered Surveyors, confirming the Bank of England's view that banks and building societies are pulling back from lending to borrowers with small deposits over the summer.

First time buyers were the hardest hit as banks reduced the availability of high loan-to-value mortgages in April in response to increasing funding costs and tightening credit conditions. There were fewer loans to borrowers with small deposits, as the number of loans granted to borrowers with a deposit of 15 per cent or under fell to 5,309, well below the three-month average of 6,229.

In the overall market, loans for house purchases fell to 49,165 in April, a fall of 1.4 per cent from March. Banks lent disproportionately to wealthier buyers, reflecting their reduced appetite for lending to riskier borrowers.

Despite the 5 per cent fall in loans for the cheapest property, approvals in all price brackets over £350,000 increased. This helped prevent overall purchase approvals falling more steeply.

The tighter lending conditions were evident as the average deposit on a house purchase loan rose above 40 per cent for the first time since February 2011. April was the fourth consecutive month in which the average loan-to-value has fallen, suggesting it is becoming increasingly more difficult for borrowers to access high LTV loans.

Business Development Director Richard Sexton commented: "The market has shown real fighting spirit and stood up well to the economic malaise engulfing Europe and the UK economy. Up until the early spring mortgage lenders did a sterling job of coping with steadily increasing funding costs imposed by investor anxiety in the wholesale markets. They absorbed them, rather than passing them onto borrowers. This helped them cater for the rush of first time buyers looking to beat the stamp duty deadline, and helped boost activity in the housing market over the late winter and early spring.

"But we've reached a tipping point now. Banks and building societies can't afford to sustain their current levels of high loan-to-value lending. In addition to their increased funding costs, they are also concerned about their exposure to the debt-riddled European countries, and the increasingly precarious state of borrower finances in the UK.

"Brighter times should return once the turmoil in the wholesale markets eases, and lending to first time buyers should begin to pick up again," he added.

Buy-to-let landlords remain optimistic

Ivan Radford — Tue, 15 May 2012 12:16:00 GMT

Buy-to-let landlords are still optimistic about the market, according to CHL Mortgages.

The lender's latest Landlord Survey found that property investors were positive about the outlook for the sector, with 71 per cent of respondents predicting a bright future and just 5 per cent feeling negative. The percentage of optimists is slightly below the 72 per cent recorded at the end of 2011, but is 4 per cent higher than last summer, as the London Olympics approaches.

The majority of landlords are happy with the size of their portfolio with 59 per cent planning to sit tight, although just shy of a third (31 per cent) intend to acquire more investment properties in the next 12 months.

In terms of actual property purchases and adding to portfolios in the last 12 months, 17 per cent of respondents said they had bought property, 5 per cent had sold, while 73 per cent of landlords had conducted no transactions.

Regarding ongoing tenant demand for private rental properties, 41 per cent of landlords thought it had improved in the past six months, while 54 per cent felt it was the same. Overall landlords appear to be confident of a healthy and stable rental market at present.

Two-thirds (66 per cent) of landlords rate their buy-to-let investment portfolio as a stable, resilient concern, while a cautious 28 per cent have their eye on the Bank of England MPC and lenders' own interest rate movements stating their portfolio may be vulnerable to any potential increases in rates.

Bob Young, Managing Director at CHL Mortgages, commented: "Our landlord survey used to be an annual occurrence, but the buy-to-let market is developing at such a rate that we have started conducting more regular polls of CHL landlord borrowers in order to gauge the current mood. This latest iteration shows the vast majority of landlords remaining optimistic about the buy-to-let market's prospects for the second half of 2012 and beyond, and still regarding the private rental sector as a safe place for their investment.

"Just under a third of current landlords intend to supplement their existing portfolios with further property acquisitions and this figure is likely to be complemented by new entrants and the usual smattering of accidental landlords, meaning the buy-to-let market is likely to remain in good health for the foreseeable future. A number of landlords are happy to sit tight and play the waiting game however and this could be down to a number of factors including the level of deposit now required to access finance, potential concerns about future interest rate rises and the fact many lenders are still finding it difficult to access funding lines and have less appetite to lend than historically.

"All in all, the buy-to-let market is a positive place to be at present and while landlords are not immune to wider economic uncertainty, they are confident in existing and future tenant demand, and where appropriate, and given the right finance arrangements, will be seeking to add to their portfolios."

Game of Thrones star sells house

Ivan Radford — Tue, 15 May 2012 12:03:00 GMT

It is no Kings Landing, but this three-bedroom property in LA comes with the Lannister seal of royal approval as Game of Thrones star Lena Headey puts it on the market.

The incestuous Queen of the Seven Kingdoms listed her Californian home for sale this week, Curbed reports, as the TV show, based on the fantasy novels by George RR Martin, continues its second season run in the UK.

The home boasts bamboo flooring, a fireplace and two and a half bathrooms. Those with ambitions to seize Cersei's LA throne can pick it up for $1.349 million.

California property officially the most affordable its ever been

Ivan Radford — Tue, 15 May 2012 11:55:00 GMT

California housing has never been more affordable in the history of US real estate, according to the California Association of Realtors.

A staggering rise in the state's affordability saw the percentage of home buyers who could afford a property to 56 per cent in the first quarter of 2012 - up from 55 per cent at the end of 2011 and the highest figure since 1988, when CAR began the Housing Affordability Index.

The association attributed the increase to record-low interest rates and stabilised house prices.

In the San Francisco Bay Area, housing affordability rose or remained stable in all counties except Contra Costa County, where affordability declined by one percentage point. At 78 percent, San Bernardino County was the most affordable, while San Francisco County was the least affordable, with only 29 percent of households able to purchase the county's median-priced home.

The index, which measures the number of households that can afford to buy a median-priced, single-family home in California, is considered the most fundamental measure of housing well-being for home buyers in the state.

Confidence builds in UK construction sector

Ivan Radford — Tue, 15 May 2012 11:46:00 GMT

Planning permission for new homes hit a five-year low back in March, according to the UK Home Builder's Federation, but the lates RICS Construction Market Survey paints a very different picture, with activity levels in the construction sector edging upwards in the first three months of 2012.

Eight percent more chartered surveyors across the UK reported increases rather than decreases in workloads, the survey found - a notable improvement after the negative sentiment expressed at the end of last year, and a marked contrast in performance between the public and private sectors. The former is now showing some signs of life, adds the report, with workloads in the commercial sector in particular picking up. On the other hand, public sector construction activity remains depressed.

More significantly, predictions for future construction activity saw a marked improvement in the first quarter of the year. 21% more respondents expect workloads to rise over the coming 12 months, the most positive reading since the early part of 2008. This is, rather encouragingly, also being reflected in a modest improvement in expectations for employment in sector, even though profit margins are viewed as likely to remain under pressure.

Overall input costs - particularly raw materials - continued to climb in the first three months of 2012 but despite this, most parts of the country saw either a rise or a steadier trend in workloads over the quarter. Surveyors in London and the South East reported the highest rises in overall activity, while those in the North recorded the first positive reading since the final quarter of 2007. The picture in Northern Ireland remains more problematic with activity levels still slipping.

Simon Rubinsohn, RICS Chief Economist, comments: "The start of the year saw a cautious level of optimism develop across the UK construction industry. Workloads rose across the sector, albeit modestly, and this looks as though it could continue over the next 12 months. Promisingly, this could also result in an increase in the numbers of jobs created in the sector.

"There are of course still significant hurdles to overcome. Finance for development remains a problem as does macroeconomic uncertainty. On top of this, the public sector will continue to scale back its capital spending programme putting ever more pressure on the private sector and institutional investors to deliver."

Stamp duty return sends sales tumbling

Ivan Radford — Tue, 15 May 2012 11:34:00 GMT

The return of stamp duty in the UK sent property sales tumbling, according to new figures.

The LSL Property Services/Acadametrics report shows that property transactions across the country plummeted by 18 per cent in April following the expiry of the stamp duty holiday, which fuelled a 32 per cent surge in March. Despite this significant drop in sales, prices remained relatively steady, slipping by just 0.2 per cent from the previous month.

The question now is: will the government's recently introduced New Buy scheme keep the demand from first time buyers going?

Richard Sexton, director of e.surv, comments: "Property prices have shown remarkable stability over the last 12 months. Even though the UK entered recession in the first quarter, prices have increased by 0.4% since December and by 1.4% since June. On an annual basis, we're likely to see price growth return next month as the spike in prices created by the rush to beat last year's stamp duty hike for properties over £1m falls out of the figures. The market has been supported by strong underlying demand from buyers, who, despite having to clear relatively large hurdles to access mortgage finance, are still anxious to take a step onto the property ladder. Strong underlying demand from buyers pushed transactions in Q1 2012 20% higher than in the same period last year.

"The East Midlands joined London as the only other region to see a monthly increase in prices in April. A large volume of prime property in London is changing hands at very high prices and this is bumping up prices across the capital. This is in marked contrast to the North of England, where prices have fallen 4% on the year as public sector cuts and static economic growth have caused disproportionate economic strain on the region. Nonetheless, the North saw prices rise 1.1% in April, which is likely to have been driven by the stamp duty rush. This means the increase is unlikely to be sustained in the short-term, but it shows even where prices have fallen, there remains a strong appetite for property across the country."

Residential development land values stay stable

Ivan Radford — Tue, 15 May 2012 11:18:00 GMT

The price of residential development land in the UK stayed stable in the first quarter of 2012, according to Knight Frank. The agency's latest report found that following a 1.3 per cent rise in 2011, land values followed the wider trends in UK house prices, which have remained broadly consistent.

The only regions in the UK to see changes in values were the North West, where land prices fell in the first three months of the year, and the West Midlands and London, where prices increased by 2.7 per cent. Otherwise, UK land prices stayed static.

As housebuilders reported in their trading updates over the past month, viewings and sales have been positive across the board during the start of the year, adds the report, suggesting a market which continues to recover from the trough seen in 2009 in the aftermath of the financial crisis.

But supply remains very limited - a reflection of the slowdown in the number of landowners applying for planning in 2009 and 2010. As a result, there are fewer sites with planning consent available. In addition, given the introduction of new planning rules, it is now taking longer to achieve planning in many areas, further exacerbating the lack of supply.

Housebuilders are still absorbing the potential impact of the Community Infrastructure Levy (CIL), which could weigh on land prices outside London. Furthermore it may deter land owners from putting their land up for sale at this stage in the market.

Australia shows modest improvement in new home loans

Ivan Radford — Tue, 15 May 2012 11:01:00 GMT

While the property industry Down Under continues to call for interest rate cuts, Australia's mortgage sector has shown a modest improvement, the Housing Industry Association has revealed.

The HIA's latest finance report shows that lending for the construction or purchase of new properties rose by 3.5 per cent in March 2012, despite the weak conditions facing the new home building sector.

The increase in seasonally adjusted loans for owner-occupied new homes was driven by a 13.3 per cent rise in the number of loans for the purchase of a new dwelling. Lending for the construction of dwellings, on the other hand, essentially stayed flat, edging upwards by just 0.2 per cent.

Hailing the figures as "welcome good news", Senior Economist Andrew Harvey comments: "The March figures reflect a period prior to the 50 basis point cut in interest rates which occurred in May, and although the cut was only partiallly passed on by Australia's banks, this factor should act to spur a further modest improvement in new home lending in the coming months.

But Harvey insists that further rates are needed. "We need to keep in mind that new home lending figures show that there are around 2,000 fewer loans each month than there would have been if the longer-term pre-GFC trends in housing finance had continued."

Watch - Elephant adventures in Thailand

admin — Tue, 15 May 2012 09:36:00 GMT

There are lots of way to interact with elephants in Thailand, including trekking. Elephant Hills, located in Khao Sok National Park, allows tourists to care for the animals, feeding them and cleaning in mud baths, as well as participate in outdoor activities around the largest area of virgin forest in Southern Thailand.

See what a group of British tourists get up to on TheMoveChannel.tv:

http://www.themovechannel.tv/2012/05/elephant-adventures-in-thailand/

Holiday rentals in Goa grow by 59 per cent

Ivan Radford — Mon, 14 May 2012 15:15:00 GMT

Holiday rentals in Goa grew by 59 per cent last year, according to HomeAway.co.uk's latest report.

The holiday lettings website found that the Indian state was one of the most popular places for British buyers in 2011, with Southern Asia emerging overall as a favourite destination. Australia and Brazil saw the strongest increase in demand across the year, while the highest number of bookings on the site occurred in the Canaries, closely followed by Dubai and Barcelona.

Andy Cockburn, UK regional director for HomeAway.co.uk, said: "Both the Maldives and Sri Lanka registered significant growth in tourist demand in the first quarter of 2012, as did Goa. These are emerging markets for holiday rentals and we anticipate seeing supply here steadily increase too."

A survey conducted by the website also found that one in three British homeowners would like to relocate to their holiday home abroad. 75 per cent of them chose not to buy property in the UK due to hard to obtain mortgages and high prices.

New bill sets Turkey property ready to roast

Ivan Radford — Mon, 14 May 2012 14:49:00 GMT

Photo credit: Bryan Tighe

The temperature of Turkey's property market was turned up this week as the Turkish government passed a draft bill that allows more foreigners to invest in the country's real estate.

Turkish property has long been a popular choice for lifestyle buyers in the UK and Europe, but has only so far been available to countries that allowed Turkish buyers to invest there in return. This restriction, which primarily affected investors from the UAE and other countries, left buyers needing to register a Turkish company first, adding red tape and extra costs to their investment.

But that is about to change, say agents, thanks to the country's acceptance of this new law, which is expected to bring a gold rush of buyers back to Turkish real estate. And not just from the Middle East but the EU too, as the bill also increases the amount of real estate a foreigner is permitted to own: from 25,000 square metres to 300,000 square metres.

The news follows reports from the Turkish government that tourism revenue is heating up as well. With Europe still plagued by financial crisis, Tourism Minister Ertugrul Gunay predicted that visitor arrivals in 2012 would stay stable at 31 million but that profits from overseas visitors would rise from $23 billion to $25 billion, according to Bloomberg.

As income increases from both holidaymakers and investors, Turkey's property market appears ready to roast. Colordarcy has even declared that the $2.5 billion currently invested by foreigners in Turkish real estate each year will double to $5 billion.

Speaking to TheMoveChannel.com, Jayne Schofield of Turkish Connextions predicted that the rush will see the market become even stronger: "With the market in turkey opening up to more and more countries, people are looking to this already popular property hotspot to purchase their second home. This will push the property prices up over the next few years, making Turkey an even better place to invest."

Cooking up an appetite for Turkey?

Browse our listings of houses, apartments and other Turkish property:

http://turkey.themovechannel.com/property/all

The Madonna of the trees

Ivan Radford — Mon, 14 May 2012 13:41:00 GMT

In the middle of France's Poitou-Charentes region lies Mouterre-sur-Blourde, a quiet, rural hamlet with a mystery hiding in its woods: a Madonna with an unknown past.

For over a century, she has sat between the trees, waiting within a secluded shrine for someone to find her.

Where is she from?

"We've heard conflicting stories..." local resident Cilla West tells me. "We know it's dated 1897."

Cilla and her partner, Steve Carter, moved to the hamlet in 2004, buying The Logis de Roche, an old seven-bedroom mansion. Believed to have been built before the enigmatic forest-clad figurine, the manor estate once included three neighbouring farms, all of which have since been sold off.

Now, the impressive building stands on a still-daunting 10 acres of park and woodland with old gates walling the front garden. Over the years, it has been everything from a holiday home to a bed and breakfast, boasting space for tennis courts, gardens, a swimming pool and horse stables. It was even a lifeline for locals in WWII, when one of the barns was used to feed the villagers with its large bread oven.

But in 2012, Cilla admits, the Madonna of the trees still remains a mystery.

"For many years in the 19^th Century, this was the holiday home for a wealthy Parisian family," Cilla explains, walking me down an impressive corridor that seems to run the full length of the house. "They only used the downstairs," she adds, pointing out the original tiles that cover the ground floor - a throwback to a grander time, when marble surrounds and elegant plasterwork once filled the property. Upstairs, the floors are now all varnished wood after the extensive renovation that's been carried out in the last eight years.

We pause in one of the grand reception rooms. After hearing about the home's history in such detail, I find it hard to believe there's no clue to the statue's identity anywhere in the building.

"We do have 15 or so hand-written ledgers, which cover the estate records all the way back to the early 20th century," she reveals, "but we've never found the time to translate them. We're sure they'd throw an interesting light on the whole mystery."

Cilla takes us back down through the private quarters, past one of four bathrooms and into the kitchen. What about village rumours? Someone must have a clue.

"One story we heard was that it was a shrine visited by pilgrims on their way to Lourdes," she says. "The other local legend is that it was built by one of the old Parisian family members to commemorate the death of his brother at war."

I suggest we walk to look at the statue ourselves. Which story does she believe?

"I'm not sure, but it's an interesting feature of the house!" she laughs.

She's right: it's not every day that a home comes with its own mysterious work of art in the backyard. Let alone seven bedrooms, four bathrooms and 10 acres of land.

"It's a property that lets you realise your dreams," Cilla promises me. What she doesn't say is that whoever capitalizes on the property's investment potential, Madonna will continue to sit in the forest outside, still waiting to be found.

Discover the Madonna of the trees for yourself for €720,000.

Click here to see the full property listing.

UK repossessions remain stable

Ivan Radford — Mon, 14 May 2012 13:40:00 GMT

The number of repossessions in the UK remains stable, according to the Council of Mortgage Lenders.

9,600 properties were repossessed in the first quarter of 2012, the CML announced last week, the same number as the first quarter of 2011, which breaks the recent trend of year-on-year increases.

Repossessions in the first quarter were higher than the 8,700 that took place in the fourth quarter of 2011 but this represents a normal seasonal pattern, adds the report.

Through the first quarter of the year, there was a modest improvement in the total number of mortgages in arrears. The number of mortgages with arrears of 2.5 per cent or more of the outstanding balance fell to 157,800 (1.4 per cent of all loans), down from 160,300 at the end of December 2011 and 170,500 at the end of the first quarter of 2011.

Within the total number of arrears cases, the largest improvements were in the middle arrears bands. Year on year, the number of loans in the 5-7.5 per cent arrears band fell by 12 per cent, and reached its lowest number since the fourth quarter of 2008, while the number in the 7.5-10 per cent band fell by 13 per cent to its lowest since the third quarter of 2008. The only arrears band to show a year-on-year increase was the group of loans with arrears of 10 per cent and over, with the 28,000 loans in this category, 300 higher than a year earlier, representing the highest number since June 2000.

The 45,000 central forecast for repossessions in 2012 may be revised down when the CML publishes revised housing market forecasts later in the summer. However, continuing pressures on household finances, changes to welfare benefits, and an upward drift in mortgage rates all have the potential to disrupt the current stable picture.

Paul Smee, CML director general, comments: "Combined efforts by borrowers, lenders and money advisers are ensuring that payment difficulties are being managed effectively, with the result that the number of repossessions remains relatively low. Repossession really is a last resort, as the numbers show. Anyone worried about their mortgage should be assured that lenders will try to help them get back on track, as long as this is a realistic prospect."

New Zealand house prices keep on climbing

Ivan Radford — Mon, 14 May 2012 13:36:00 GMT

Residential property prices in New Zealand kept on climbing in April.

The values, which rose 0.4 per cent over the past three months, are now 3.1 per cent above April last year, reports QV, 2.9 per cent below the market peak of 2007.

QV Valuer Glenda Whitehead comments: "The marginal drop in values in March appears to have been a temporary blip. There continues to be variability across the country but slight increases in values in parts of Auckland, Wellington, Hamilton and several of the provincial centres are helping to push up nationwide values".

Whitehead adds: "Sales activity has been strong for the last few months, with volumes at the highest levels since 2007. Some of the increase in activity has been due an increase in confidence amongst home buyers, releasing some of the pent-up demand caused by several years of lower than usual sales activity. First home buyers are also active in most of the main centres, in part encouraged by the Welcome Home Loan package and low interest rates. Sales activity will slow down a little over winter but the increased confidence in the property market is likely to carry through into Spring."

Values in the wider Auckland area rose by 0.6 per cent in the first quarter of 2012, while old Auckland City saw prices jump faster than the other main centres, at a rate of 6.8 per cent over the year, and are now 5.1 above the levels seen in 2007.

"Properties in the inner leafy suburbs, including Old Auckland City, that command values in excess of $800,000, continue to be in strong demand. Buyer numbers are well in excess of the relatively low listing levels. This imbalance continues to see sale prices climb with buyers seemingly less financially restricted and keen to outbid each other, typically at auction or through pre-auction offers. Some of this activity is a counter-balance to a long period of inactivity which has caused pent up demand. Agents have also indicated buyer numbers are being bolstered by New Zealanders returning from overseas" explained Whitehead.

Other areas, such as Hamilton, saw prices rise too, while Tauranga suffered a gradual downward trend, with prices dropping 0.6 per cent over the last three months, despite still being 0.7 per cent higher than last year.

Christchurch's property market continues to perform strongly, although values have also begun to dip in recent months. Values in the earthquake-hit town are 4.8 per cent higher than 2011 after a year of steady increases, reaching just 0.1 per cent lower than the market peak of late 2007.

"Activity and demand continue to flourish in unaffected areas of Christchurch and the surrounding areas. Properties selling via auction or ‘sale by negotiation over' have been very effective as the competition is driving sale prices. Feedback from purchasers also reveals the first offer they put forward is generally their best price due to being tired of going through the process and missing out on properties. We are also seeing more evidence of people well underway with planning or building in new subdivisions," said QV Valuer Richard Kolff.

It is too early to say if the latest decline represents a longer term slowing of values in Christchurch, adds the report.

South African mortgage market improves

Ivan Radford — Mon, 14 May 2012 13:25:00 GMT

The mortgage market in South Africa is improving, reports the country's biggest lender.

New figures from BetterBond show that buyers aged between 30 and 50 are increasing, driving the number of requests for loans up by 45 per cent in the past year. At the same time, those over the age of 50 are reducing demand for mortgages, perhaps because they are delaying moving home until prices have dropped or because they are using savings to pay for smaller homes in cash.

"An encouraging development in the past 12 months, however, is that the percentage of loans being granted to buyers between the ages of 20 and 30 - who are typically first-time buyers - has gone up substantially, from about 16,5% to almost 21%," CEO Rudi Botha told BusinessDay.

UK households spend £10,416 year on rent

Ivan Radford — Mon, 14 May 2012 13:18:00 GMT

UK households are now spending an average of over £10,000 on rent each year, according to FindaProperty.com.

The website's Rental Index shows the households spend an average of 38 per cent of their take-home income on rent, while London residents shells out a whopping 71 per cent of the average capital city income on letting property.

The average rental rate is now £868 per month, adds the report, 1 per cent higher than last year but below September 2011's record high of £890. The average annual household income is now £27,242, which means that residents in rented homes are spending £10,416 of this each year on accommodation.

The rental costs for studio, one-bed and two-bed apartments are now at an all-time high, creating a difficult environment for tenants looking for smaller, cheaper accommodation.

Samantha Baden, property analyst at FindaProperty.com, comments: "Average rental prices peaked in September of last year but have come down since then, most likely as a result of more properties coming onto the market.

"Overall, rental supply increased in the first quarter of the year, especially for bigger properties. In contrast, smaller homes remain in limited supply and as a result, individuals and couples are still facing record asking prices for smaller flats and therefore spending a significant proportion of their overall household income on this.

"This is particularly pertinent in areas like London where demand is high, which is why tenants looking for more affordable rental property should consider the impact of location as well as size."

Oh, we do pay to be beside the seaside

Ivan Radford — Mon, 14 May 2012 12:53:00 GMT

Oh, we do pay to be beside the seaside, according to Halifax's latest report.

The lender's Seaside Town Review reveals that in the last 10 years, house prices have more than doubled in half of the UK's seaside towns. Since 2002, the average house price in seaside towns rose by 97 per cent, the report reveals, slightly ahead of the 95 per cent increase in the whole of England and Wales.

Seaham, in County Durham, has recorded the biggest rise over the past decade with the average house price increasing by almost 183 per cent from £38,443 in 2002 to £108,742 in 2012. Wadebridge and Padstow - both in Cornwall - have seen the next largest rises with increases of 173 per cent and 171 per cent respectively. The average price in Wadebridge is now at £348,986, and £382,806 in Padstow.

There is a marked North-South divide in house prices in seaside towns, despite big increases in house prices in many seaside towns in the north over the past ten years. All ten of the most expensive seaside towns are on the south coast with eight in the South West.

Salcombe in Devon (£528,920) and Sandbanks in Dorset (£525,927) have the highest average prices with both also featuring amongst the most expensive areas in the country.

Not all seaside towns boast high average prices. Blackpool - one of the most famed and historically popular seaside towns in England - features in the list of the ten least expensive seaside towns with an average house price of £104,747.

All ten least expensive seaside towns are in northern England. The least expensive town in the survey is Newbiggin-by-the-Sea in Northumberland with an average house price of £75,063.

Martin Ellis, housing economist at Halifax, commented: "Seaside towns are still very popular places to live. They offer a unique lifestyle that for many can't be matched elsewhere, with that all important sea view, together with a typically high quality of life and a healthy environment.

"However, seaside living often comes at a price. The majority of seaside towns in Wales, East Anglia and the South West have an average house price that is higher than the surrounding area. But, this is not always the case and good value properties can be found in many seaside towns in the South East and Yorkshire and the Humber, in particular."

Deep Throat house hits the market

Ivan Radford — Mon, 14 May 2012 12:48:00 GMT

Celebrities never fail to grab house-hunting headlines, with everyone from Harrison Ford to Matt Damon moving house in recent months. But houses that appear in their movies have a similar star status. Carrie Bradshaw's Sex and The City home changed hands several times this year as did the Breakfast at Tiffany's house, while the most famous on-screen property of them all, the Home Alone house, finally sold in March after years of sitting on the market.

Now, a new contender for star status is on the market, as the house used for famous adult movie Deep Throat has been put up for sale.

The 1961 property, where many scenes from the "pioneering" 1972 film took place, was built by Baron Joseph "Sepy" De Bicske Dobronyi, reports the Miami New Times, and was home to famous guests ranging from Frank Sinatra to Ernest Hemingway and Ava Gardner at Sepy's infamous parties.

The mansion spans 0.62 acres of land and has a swimming pool as well as lots of dense foliage to give the "unique interior spaces" lots of privacy. The asking price is $1.7 million, according to Coconut Grove Grapevine.

Global prime property prices suffer first fall since 2009

Ivan Radford — Mon, 14 May 2012 12:03:00 GMT

The average price of prime property around the globe fell for the first time since 2009, according to Knight Frank.

The firm's Prime Global Cities Index reveals that the value of prime real estate in the world's key cities dropped by 0.4 per cent in the first three months of 2012 - the first quarterly dip since the recession began.

The report suggests that the index's negative quarterly growth is not surprising, given that quarterly price growth has been below 2 per cent since Q1 2010 and averaged only 0.6 per cent last year. The first three months of 2012 did not bring much momentum for the market either: the Eurozone debt debacle remained at the forefront of the global economic agenda, several critical elections were on the horizon (Russia, France, Greece) and Asia's highly-effective cooling measures showed no sign of being relaxed. Against this backdrop, adds Knight Frank, some luxury buyers chose to sit on the sidelines to see how the market would pan out.

Despite the index's overall sluggish performance, however, four markets achieved double-digit annual growth; Nairobi, Jakarta, Miami and London. London and Singapore are proof that there is still a level of resilience in the prime markets with both cities shrugging off the introduction of new stamp duties, but it is perhaps most surprising that the top five cities were spread across four continents - North America to be the only continent to appear twice.

In London both prices and applicant numbers increased despite the stamp duty rise to 7 per cent for individuals buying homes over £2m. In Singapore the new 10 per cent stamp duty for foreign buyers, which was introduced in December 2011, dented demand but not prices according to Nicholas Holt, Knight Frank's Asia-Pacific Research Director.

Nicholas comments: "Prices not only held up but actually increased slightly at the very top end of the Singapore market in Q1 2012. This was not only due to fairly resilient domestic demand, but also due to wealthy Chinese, Indonesian and Indian buyers who continued to buy in this segment of the market undeterred by the surtax."

Knight Frank concludes that the overall index will remain subdued in 2012, fluctuating between marginal price falls and rises (with London, Moscow, Jakarta, Nairobi and Singapore expected to be the strongest performers) and dismisses the possibility of a new deflationary cycle in luxury global house prices, as investors look for safe havens around the world. Capital flight will continue to focus on cities with low political risk, predicts the report.

UK home-movers at their most upbeat for almost 2 years

Ivan Radford — Mon, 14 May 2012 11:43:00 GMT

UK home-moves are at their most upbeat about property prices in almost 2 years, according to Rightmove's latest research.

The quarterly Consumer Confidence Survey, which questions 40,000 home-movers across the country, finds that house price optimism is as its highest for seven quarters, with 35 per cent expecting house prices to be higher in one year's time - the strongest figures since the third quarter of 2010.

The survey also finds that the proportion of those expecting house prices to be lower in 12 months' time is also at its lowest level (20 per cent) for seven quarters.

Respondents were asked to explain the main reason for their predictions and, interestingly, mortgage-related issues feature prominently in both camps. Among price-optimists, 35 per cent report an improving mortgage market and a further 14 per cent identify continued low interest rates as the main reason for their view that prices will be higher 12 months from now.

Mortgage-related concerns are even more prevalent amongst price pessimists with nearly two-thirds (64 per cent) collectively citing the following reasons for their negative price outlook: little or no improvement in mortgage availability (33 per cent), high deposits required by lenders (16 per cent) and fear of interest rates rising (15 per cent).

Miles Shipside, director at Rightmove, comments: "While the most common view remains that property prices will be about the same one year from now, this is the most upbeat price forecast Britain's homemovers have delivered in nearly two years. Confidence plays an important role in motivating those who can afford to buy to actually go ahead and transact. By self-selection, many of them are hunting in the same better-heeled locations which in turn builds greater momentum and price rise expectation in these more affluent areas. Conversely, lower levels of activity in less well-off areas spreads negative sentiment fuelling falling price confidence."

Shipside adds: "The mortgage market continues to occupy home-movers' thoughts and there is evidence here that house price confidence is steered by their interpretation of mortgage availability. How you read it, which probably depends on whether you are ‘included' or ‘excluded' as mortgage-worthy by the lenders, seems to determine what you think will happen to prices. Those with larger deposits will naturally have a more positive interpretation of access to finance and, therefore, prices."

Half of those intending to buy in the next 12 months state that finding a suitable property to buy is their single biggest concern. This has risen consistently from 36 per cent two years ago and 44 per cent a year ago to 50 per cent now. Rightmove has previously reported that fresh property choice coming to market remains subdued at around 35 per cent below 2007 pre-credit-crunch levels. The most active buyer markets tend to be those where the cash-rich wish to live, leading to suitable property shortages and rising prices.

Shipside observes: "Those looking to buy this year say their biggest concern is finding a suitable property to buy. This is leading a big chunk of those at the sharp-end of the property market to forecast higher prices as the lack of suitable choice will encourage them to pay a bit more to secure the right home when they find it. Those who can proceed will often be competing in the same locations as other deposit-rich buyers which could lead to increased rivalry for the most appealing properties."

New Bulgarian regulations allow purchase of property without company

Ivan Radford — Mon, 14 May 2012 11:32:00 GMT

New regulations in Bulgaria's property market allow foreign buyers to purchase real estate without having to register a company first.

The conditions officially changed at the beginning of 2012, when The Treaty of Accession of Bulgaria to the EU removed its support for the restrictions, but effectively came into practice in the second half of April, allowing all EU citizens to buy land in Bulgaria in their own name.

Investment in agricultural land and forests will still require a registered Bulgarian company until the beginning of 2014, when this restriction is also set to expire. The restrictions will remain in place for any investors outside of the EU or European Economic Area (EEA).

Polina Stoykova, Chief Operations Manage of Bulgarian Properties, hails the new regulations as a big step for the market: "This is a major change and liberalization of the Bulgarian real estate market. It comes in combination with lower property prices, which have dropped with around 50% since the beginning of the crisis. These factors will contribute for a greater demand for properties by foreign European buyers. These factors will contribute for a greater demand for properties by foreign European buyers."

Looking to buy Bulgarian property?

http://bulgaria.themovechannel.com/property/all

Florida fills up America's top 10 "turnaround towns”

Ivan Radford — Mon, 14 May 2012 11:19:00 GMT

Realtor.com published its list of America's Top 10 "Turnaround Towns" last week - and Florida accounted for seven of them.

The state, hardest hit by the financial crisis, is showing signs of rallying as foreign investors continue to take advantage of the low-priced property before the market recovery fully takes hold.

Florida's markets are "leading the nation towards a general housing recovery," reads the report, while unexpected new comers in Michigan, Texas, Iowa and California are also showing signs of strength and stability.

The full list of 25 Top Turnaround Towns, using year-over-year comparative data from the first quarters of 2012 and 2011, is led by Phoenix-Mesa, Arizona, Miami, Florida and Orlando, Florida.

Noteworthy newcomers include Bay Area frontrunners Oakland and San Jose, California, heating up as the nation watches the local hi-tech industry and upcoming Facebook IPO, and the Lone Star State markets of Dallas and Forth Worth-Arlington, Texas.

While Detroit, Michigan continues its struggle with high unemployment (10.2%), it landed in the 23rd position on the Realtor.com list with a 5.82% increase in list price appreciation, a -29.59% reduction of for sale inventory, and a market that's moving 27.27% faster, all on a year-over-year quarterly basis.

"We continue to see signs of stabilization and recovery on the local level throughout the country, basing analysis on the real-time nature and accuracy of the Realtor.com data," said Steve Berkowitz, CEO of Realtor.com operator, Move, Inc. "By all indications, the 2012 housing market is unfolding as we expected, and we're encouraged with the progress local markets are making. However, much will depend on the continued health of our economy, specifically job rates, and how lenders will release their foreclosure inventories now that the 49 state AG Agreement has been signed. All of these key factors will determine how quickly our local housing markets recover and remain healthy."

Video - Landlords hoping for windfall from Olympic rentals

admin — Mon, 14 May 2012 10:07:00 GMT

As the 2012 London Olympics draw closer, many home owners in the capital are hoping to cash in on the demand for rental accommodation by letting out their properties and hiking up the price.

Watch the full report on TheMoveChannel.tv:

http://www.themovechannel.tv/2012/05/landlords-hoping-for-windfall-from-olympic-rentals/

Top 6 underwater homes

Ivan Radford — Fri, 11 May 2012 14:57:00 GMT

Dubai caused a splash this month when the emirate launched plans for an underwater hotel.

Not content with the tallest skyscraper in the world, the Burj Khalifa, The Water Discus Hotel, designed by Deep Ocean Technology, takes Dubai's real estate in the opposite direction: 10 metres below sea level.

The half-submerged property, which comprises two main discs, one high enough to avoid tsunamis and the other underwater, will allow guests to sleep with a stunning sky view - or just sleep with the fishes.

"Today, the advent of new technology made the heart of the ocean a setting not only for diving, but also for luxurious holidays," a spokesman for BIG InvestConsult, the Swiss developer behind the project, told the press.

But while the hotel's ambitious design has won waves of followers across the globe, Dubai's underwater development is not the world's first water-logged resort. And so TheMoveChannel.com straps on its scuba gear to dive into the depths of the real estate market and bring up the seabed's best property.

Here are the world's top 6 underwater homes:

Rangali Islands - The Maldives

Photo credit: Conrad Hilton

Underwater living has long been the subject of elaborate April Fools jokes (see: Glasgow underwater housing), but The Maldives actually jumped into the uncharted property waters in 2005. The world's very first underwater accommodation, the Maldives Rangali Islands resort is operated by Hilton. It boasts underwater spas, underwater rooms and underwater restaurants - and also offers underwater wedding ceremonies for its guests.

The Water Discus Hotel - Dubai

Photo credit: Deep Ocean Technology

Dubai's newest development may be late to the game but it is already ahead of another project, the 220-suite Hydropolis, which was cancelled in 2010 after failing to fund its $300m construction costs. The Water Discus Hotel offers a total of 21 hotel rooms, along with a submerged dive centre and bar. Macro photography within each room will also allow residents to take a close look at sea creatures outside their windows, illuminated by a specially designed lighting system.

Jules' Undersea Lodge - USA

Photo credit: Jul.com

On a much smaller scale than Dubai's opulent project, Jules' Undersea Lodge is America's only underwater hotel. Located in Florida, the Jules Verne-inspired accommodation is converted from a former marine laboratory 9m below the surface. But those afraid of the risks need not worry: the property uses waterproof suitcases from a Californian company to transport food and belongings down to guests' rooms. "20% of our guests are not certified divers," add the hotel's website.

Trilobis 65 Floating Home - Worldwide

Photo credit: Sub-Find

The Trilobis 65 is a semi-submerged home with a difference: it can float anywhere. The six-bedroom property is powered by fuel cells, solar energy and wind, and spans four separate floors, ranging from 3.5 metres above water to 3 metres below. "The main aim of the project is to allow anyone to live in a unique environment through a self-sufficient, non-polluting dwelling that exists in unison with their ocean surrounding," explains Italian naval architect Giancarlo Zema.

Poseidon Undersea Resort - Fiji

Photo credit: Poseidon Resorts

The Poseidon Undersea Resort was announced in 2007. The resort, which includes 24 rooms, a library, restaurant and a fitness centre, would be made almost entirely of acrylic glass, allowing residents to observe a coral reef directly on the ocean floor at a depth of 40 feet. The project was reportedly constructed on land in Portland before being shipped to Fiji and was scheduled to be completed three years ago. For those wishing to spend a night, the official website's reservation page reads: "Thank you for your interest in Poseidon Resorts. We welcome you to contact us after September 15, 2009."

Florida - USA

Photo credit: vgm8383

For those living in America, who aren't staying at Jules' Undersea Lodge, the words "underwater property" means something very different. With homeowners unable to meet mortgage payments and their houses worth less than the total debt owed on the property, many are facing foreclosure, especially in Florida. These underwater homes have held down the US property market, keeping prices low for buyers. But as President Obama's scheme to bulk sell repossessed property to buy-to-let investors gains momentum, Florida's housing market now appears to have turned the corner.

"In the first quarter [of 2012] we have seen further decline of housing inventory in Miami-Dade County coupled with consistent and significant price appreciation," commented Martha Pomares, chairman of the Miami Association of Realtors, this week.

"Considering that we are seeing consumer confidence, job creation, and the economy improve, Miami is poised for growth that will positively impact the local real estate market long into the future, particularly if qualified buyers are able to purchase homes," added residential president Patricia Delinois.

Not looking to live underwater?

Browse our listings of houses, apartments and other overseas property:

http://www.themovechannel.com/property/all

High demand and limited supply drive Miami prices up

Ivan Radford — Fri, 11 May 2012 12:36:00 GMT

Limited housing supply and heightened demand drove Miami property prices up in the first quarter of 2012, reveals the Miami Association of Realtors. The association's report shows that despite short sales and bank-owned properties continuing to account for a significant percentage of closed home sales, average sales prices are getting higher.

The median sales price for single-family homes in Miami-Dade County rose 14 percent to $174,799 in the first quarter of 2012 compared to the first quarter of 2011. The median sales price for condominiums was $129,500, a 38 percent increase year-over-year.

"In the first quarter we have seen further decline of housing inventory in Miami-Dade County coupled with consistent and significant price appreciation," said Martha Pomares, 2012 Chairman of the Board of the MIAMI Association of REALTORS.

"Record home sales, which were greatly boosted by foreign buyers and investors, in Miami-Dade County have further strengthened the local real estate market and economy."

Year-over-year, the average sales prices for single-family homes and condominiums increased 26 percent to $335,072 and 29 percent to $257,346, respectively.

Miami-Dade residential sales - including existing single-family homes and condominiums - decreased a negligible one percent in the first quarter of 2012, from 5,910 to 5,869, compared to a year earlier. Following a record-breaking year in 2011, sales in Miami remain at historically strong levels despite the slight decline. In the first quarter, Miami sales of existing single-family homes increased 4.1 percent compared to a year earlier. The sales of existing condominiums decreased four percent compared to the first quarter of 2011.

"While we are fortunate to have seen such a rapid and robust recovery in Miami, loosening unnecessarily tight credit conditions would further benefit our market," said MIAMI Association of REALTORS Residential President Patricia Delinois.

Yours for $970,000: An island in Ireland

Ivan Radford — Fri, 11 May 2012 12:30:00 GMT

It is not uncommon in the current economic climate for whole towns or villages to go up for sale, but Ireland has an entire island on the market for under $1 million.

Inisliroo Island, located on Lough Erne Lake, has been on the market for six weeks with no offers. The island is home to four generations of one Irish clan, reports MSN, although electricity is only provided by a "startomatic electric generator", which may or may not be started automatically or with a hand crank.

MSN adds that another island in the USA is also on the market for just $890,000, as values continue to plummet on real estate of all sizes.

European commercial property cools down

Ivan Radford — Fri, 11 May 2012 12:21:00 GMT

Commercial property investment markets cooled down at the start of the year, according to Cushman & Wakefield.

The commercial real estate firm's report shows that investment in the European commercial property market in the first quarter of 2012 fell to its lowest level since Q1 2010, with volumes reducing by 31 per cent compared to the end of 2011. Annually, volumes also fell by 1.56 per cent in March, while foreign investors scaled back their activity, leaving domestic buyers to increase their market share from 35 per cent last year to 37 per cent.

Offices were the strongest sector over the year, with volumes rising 19% on Q1 2011 compared to a 55% fall for retail and a 35% drop for industrial. The main areas of growth in activity have been in the Nordics, Poland and Switzerland while France, Italy, the UK and the rest of Central Europe dropped back after a busier Q4 2011.

Prospects for the rest of the year are being trimmed but there is still some confidence that increasing levels of stock and a growing need to act will lead to a firming in the market as the year goes by.

Michael Rhydderch, Head of Capital Markets EMEA at Cushman &Wakefield, commented: "It is not unusual for volumes to fall in the opening quarter - on average since 2006 they have dropped nearly 16% compared to Q4 in fact - but this is not just a seasonal lull, with volumes falling more and falling compared to the same period of last year - which in itself was no high point. There are still plenty of new investors coming into the market, with foreign buyers more dominant than domestic players over the last quarter. However, a shortage of stock, of debt finance and of confidence is holding the market back by perhaps more than we expected given the level of equity demand and the momentum at the start of the year."

The banking sector is the centre of attention but is pulling in different directions, on the one hand promising to feed investors with stock as deleveraging and asset sales pick-up, but on the other enforcing a strict diet due to the near freeze on new lending.

Rhydderch continued "Attention to detail is key in looking at all opportunities including loan portfolio and bank sales - with the property fundamentals vital to getting the financing and pricing right."

Retail has been the hardest hit sector by the slowdown in activity, with its market share dropping to just 22% versus an average of 32% during 2011. Offices, by contrast, have jumped up to 53% as against an average of 45% in 2011. Industrial has been relatively stable with an 8.3% share (8.9% in 2011).

Demand and activity patterns have been far from uniform around the region, with the Nordics, Benelux and parts of Eastern Europe holding up best. By country, Norway, Switzerland and Poland are up on Q1 2011 and notably also up on the busier final quarter of last year. Spain, Sweden and Finland meanwhile failed to match their performance of late 2011 but are at least ahead of the opening quarter of last year.

The Nordic region saw volumes rise 66% on the same quarter of last year as investors have been drawn to its better risk and growth profile and in particular a better relative standing on government debt. Sweden is generally the main target of interest and by far the largest investment market in the bloc but investors are looking further afield, with Norway in particular seeing increased demand and activity ramped up to its highest quarterly level since 2008 in Q1.

Markets such as Belgium, the Netherlands, Germany and Russia have been relatively solid meanwhile while France, Italy, the UK, Portugal, Czech Republic, Hungary and Slovakia all saw marked falls. Parts of the CEE market in particular have been hard hit by a shortage of debt finance but a lack of prime stock has also held investors back. That should change as the year progresses however, and notably so in Poland, as a range of retail and office opportunities are coming forward.

Interestingly, despite an increasing focus on 'core' assets, the big three: Germany, France and the UK, lost market share in the last quarter - dropping to 58.6% versus 62% last year, their lowest combined share since Q2 2009. However, while the core has lost out, so too has the fringe, with the GIIPS countries (Greece, Ireland, Italy, Portugal and Spain) seeing their market share drop to 4.3% as against 5.3% last year and over 11% in 2009.

Germany is the most buoyant of the three core markets meanwhile, albeit a reduction in larger deals masks this somewhat in the latest quarterly figures. The top five cities of Munich, Hamburg, Berlin, Dusseldorf and Frankfurt remain most in demand, while foreign buyers have been the key driver of growth, seeing their market share rise to 43% from 31% in Q4 2011.

Offices were the strongest area of activity in Germany, taking 44% of all monies invested, but as in some other markets, retail is being held back by a shortage of the right quality of stock for investors to buy. Alongside the UK, Germany dominated retail investment in the quarter, with the two accounting for 54% of all retail market activity. Russia was the only market coming close - with €942mn invested versus €1.1bn in the UK and €1.5bn in Germany. Belgium and Poland were the fourth and fifth largest markets, with €272mn and €211mn invested respectively.

While the UK may have lost its retail crown to Germany, it remains far and away the largest European office market - with €5.1bn invested in the quarter versus €2.4bn in Germany, €1.3bn in Norway, €1.2bn in Sweden and €0.9bn in France.

Market concentration is however slightly lower in the retail sector, with the top five accounting for 79.8% of all trading versus 81.3% in offices in Q1. Thanks to the huge dominance of the UK, the top five industrial markets have a yet higher market share of 84%, with the UK (€1.1bn) followed at some distance by Germany (€352mn), Switzerland (€180mn), Poland (€97mn) and France (€92mn).

Looking forward, David Hutchings, Head of European Research at Cushman & Wakefield, commented: "At the beginning of the year we forecast investment would increase in the second half after a slower start and hit something like €24bn for the year. That forecast is now under threat with at least some of the Q1 underperformance not expected to be made up.

"For now however we remain confident of better activity levels in the months to come and have only edged down the forecast to €120bn. Nonetheless there are clear and growing risks that this adjusted forecast will not be met - particularly if economic confidence wanes and improvements in the outlook for the sovereign debt crisis recede any further."

Commenting on demand, Hutchings continued: "Secure yields are fundamentally attractive in a world of low interest rates and now slowing inflation. Income growth will undoubtedly be slower in the year ahead however and negative in some cases as less productive property is found out. However returning business confidence - hopefully - and less new development, should limit the downside threat to rents and occupancy ahead of an eventual return of more robust economic growth in 2013."

Is France set for a 40pc fall in prices?

Ivan Radford — Fri, 11 May 2012 12:00:00 GMT

French property is facing a slump "of Anglo-Saxon proportions", according to some experts, as the country's property boom threatens the market with a fall in prices of up to 40 per cent.

Speaking to The Telegraph, PrimeView predicted that the factors fuelling the booming French property market would soon disappear, leaving prices to drop after their staggering 160 per cent surge since 1998.

Indeed, Paris is now the third most expensive city in the world for real estate, according to Knight Frank, above New York with the value per square metre leaping to £14,600. But Standard & Poor have echoed PrimeView's concerns, suggesting that prices will soon correct themselves by 15 per cent as part of a slide that could last for four years.

"A number of clients tell me they think the market has topped and want to get out," one French hedge fund manager told the newspaper.

PrimeView predicts the fallout to be far more severe, as the increase in house prices outstrips the growth in household incomes, the number of sellers increases due to an ageing population, and taxes are set to change after France's elections.

More Australians rent rooms to pay mortgage

Ivan Radford — Fri, 11 May 2012 11:24:00 GMT

More Australians are now considering renting out rooms to pay their mortgage, a PRDNationwide survey shows.

11 per cent said they would consider renting out space if they had a spare room, the survey found, while a further 14 per cent said that they were already letting out a room. The overall report reveals that almost one in three homeowners would sub-let to help make ends meet, compared to one in five two years ago, when the global recession first hit.

Director Aaron Maskrey commented on the findings: "Renting out a spare room to generate extra cash could reduce the likelihood of suffering mortgage stress. Getting onto the property ladder is increasingly difficult for thousands of first time buyers in Australia, and increasingly, homeowners are making unused space earn its keep."

Source: Property Wire

Homeowner aspirations hit 30-year high

Ivan Radford — Fri, 11 May 2012 11:11:00 GMT

The aspirations of UK homeowners are the highest they have been since the 1970s, according to research carried out for the AA Home Emergency Response service.

The report reveals that out of those who have purchased a home since the 2008 housing peak, 37 per cent aspire to owning a detached home - the highest number for thirty years, when 39 per cent of homeowners had the same ambition.

Naturally, homeowners today aim bigger, with 22 per cent of first time buyers aiming for a four or five bedroom house, despite the recent debates surrounding mansion taxes for high-end accommodation. Indeed, 7 per cent of 18-24 year olds believe they will one day own a detached property with at least six bedrooms.

On the other hand, only 15 per cent of people buying homes since 2008 think they will end up in a terraced home - a significant dip from the Thatcher era of the 1980s, when 24 per cent felt that was the limit of their property potential.

Tom Stringer, Head of AA Home Emergency Response, comments: "On the motoring side we are aware that new drivers love their first car but often aspire to drive a bigger, better, more expensive model. The same appears to be the case in the housing market.

"This research has revealed that the troubles in the housing market over the last three years have not dented the aspirations of recent first-time buyers.

"In fact, new entrants to the market are more positive about their long-term prospects than those entering in the last 30 years - something which could bode well for recovery in the market."

Source: Property Talk Live

Government "on track to smash" public land target

Ivan Radford — Fri, 11 May 2012 10:58:00 GMT

The government is on course to "smash" their target to release public land for the building of new property, Housing Minister Grant Shapps announced this week.

New figures show that Ministers have identified enough surplus public land, such as empty offices, or empty public service buildings, to build up to 102,000 new homes - already exceeding the Prime Minister's target of releasing enough land for 100,000 homes by 2015.

Organisations across the public services, including the NHS, Ministry of Defence and Department for Transport, will now play a critical role in helping to build the new homes that communities want and that the country needs.

Examples of brownfield and previously used sites set to be released and sold for new homes include:

Princess Marina Hospital, Northampton. This NHS site has been sold and has outline planning consent for 550 homes including 12 flats for junior doctors.
Foxhill, Bath. The former Ministry of Defence base could provide over 600 homes.
Hertford East coal yard. Land in the Department for Transport estate with potential capacity for 50 homes.
RAF Brampton, Huntingdonshire. The former Ministry of Defence base could provide up to 400 homes.
eicester Frith Farm, Lady Hay Road, Leicester. Former farm buildings sold by the Department of Health with the potential for conversion and around 10 homes.
Long Benton, Newcastle. Land formerly used for the Department for Environment, Food and Rural Affairs' veterinary investigation centre, will deliver around 50 housing units with a minimum 12 affordable homes.
Calvert Lane, Hull Springbank. Part of the Department for Transport estate; could support up to 105 homes.
Erskine Barracks, Wilton. The former Ministry of Defence barracks could provide up to 450 homes.

With the public sector owning an estimated 40 per cent of larger sites suitable for development, Grant Shapps is determined that Whitehall can go further.

He has pledged that Government departments will continue to identify and make available as many brownfield and previously used sites as possible for more much-needed homes, and work closely with the Homes and Communities Agency to make land ready for sale as soon as possible while still ensuring best value for money for the taxpayer.

To help developers make the most of the sites on offer, Mr Shapps will also look to extend the use of the innovative "Build Now, Pay Later" deal to as many previously-used sites as possible - allowing them to start work on thousands of new homes without the initial expense of buying the land.

Ministers are also committed to making information about surplus public land freely available, so that local people can see what opportunities exist to advance projects and meet local needs - be it for free schools, businesses or new homes.

Housing Minister Grant Shapps said: "Government is one of the country's biggest landowners - it's only right that we make the best use of our assets, and I can't think of a better use than building the homes this country needs.

"We're already on track to smash the Prime Minister's ambition to release previously-used public land for housing: enough land has already been identified to support more than 102,000 homes. But we're not stopping there - I'm determined to continue looking for more sites suitable for housebuilding.

"And as this work continues we'll support developers getting on site quickly, through the innovative Build Now, Pay Later deal. This gives builders access to land they only pay for after the homes are built, laying the foundations for new homes and neighbourhoods right across the country."

The Government has put a range of measures in place to boost housebuilding.

The Prime Minister recently announced an extra £150 million to Get Britain Building, bringing the total fund to £570 million, to get work started on stalled sites and build up to 16,000 new homes.

The £4.5 billion Affordable Homes Programme is set to exceed expectations and deliver up to 170,000 homes; and

The NewBuy Guarantee scheme will help get the market moving, by giving thousands the opportunity to buy their dream home with a fraction of the deposit they currently require.

Renting prime property now cheaper than buying

Ivan Radford — Fri, 11 May 2012 10:53:00 GMT

It is now cheaper to rent than buy prime property in the UK, Prime Location has revealed.

The UK property site's Prime Rental Index shows that the average rent for prime property is £1,238, £369 cheaper per month than the average mortgage.

In London, the gap widens even further, with rents clocking in at £3,943 - significantly cheaper than the average mortgage of £4,339.

Prime Location's research also shows that renting prime real estate is like to become even more affordable in the near future, with rates falling to a 10-month low, making prime lettings £40 cheaper per month compared to September 2011. Even so, prices have still climbed by 9,3 per cent in the last three years, when the downturn first began, as the prime property market remains surprisingly strong - a stark contrast to the overall UK property market, where it is cheaper to buy than to rent, with average rates reaching up to £868, £105 more expensive than a mortgage.

Nigel Lewis, property analyst at PrimeLocation.com said: "It's clear that across the UK the more expensive a home is, the better value you get by renting rather than owning it despite the low cost of borrowing at the moment.

"London is still comfortably the most expensive market for prime renters as demand for property in the Capital continues to grow. The Prime rental market is very healthy, so for those who are looking to rent a property at the higher end of the market, now is an excellent time to be shopping around."

Source: Property Talk Live

Double-dip may delay landlord plans

Ivan Radford — Fri, 11 May 2012 10:28:00 GMT

The double-dip recession may cause landlords to delay their plans for expansion, according to Landlord Assist.

The tenant eviction and rent collection company suggests that buy-to-let investors and existing landlords may push back plans to expand their real estate portfolios until the economy shows signs of recovery.

Commercial Director Stephen Parry says: "Current market conditions may appear perfect for landlords with record tenant demand and a shortage of accommodation available. However, if the last recession taught landlords anything it is that economic uncertainty also increases the likelihood of rent arrears and tenants defaulting on payments.

"As a result, whilst some landlords will look at the long term picture and won't want to miss out on the opportunity to secure property purchases that represent real value for money, we expect others to be mindful of the possibility of rent arrears and bide their time until there are genuine signs of economic growth."

Managing Director Graham Kinnear adds: "Although a double-dip recession may fuel further growth in the buy-to-let sector, as prospective home owners choose to rent instead of buy, at the moment some landlords are nervous about extending their portfolios as they are getting very mixed messages from their banks.

"Some of the banks appear to be increasing their standard variable rates even though the Bank of England base rate remains at 0.5%. Landlords want economic stability and clarity of lending criteria before they will expand their portfolios further."

Source: Property Talk Live

Albania offers "excellent B2L opportunities", say lettings experts

Ivan Radford — Fri, 11 May 2012 10:22:00 GMT

Official data from the Bank of Albania has identified that tourism revenue for the Balkan nation increased by an impressive 17% reaching €1.3bn in 2011. While Albania offers unspoilt coastline and archaeological parks, property experts believe that the 'value for money' nation is also providing excellent opportunities for investors in the holiday lettings marketplace.

Kate Stinchcombe-Gillies, Head of Communications at Holidaylettings.co.uk, the busiest holiday home rental website in the UK commented on the potential of the emerging Balkan land, saying,

"Albania is a new territory in 2012 for the holiday lettings marketplace. The destinations showing promise are the seaside spots of Vlore and Durres. Vlore benefits from the combination of offering a city break holiday with stunning coastline - not dissimilar to a holiday experience offered by Barcelona. There are some beautiful beaches and great nightlife alongside UNESCO sites.

"Typical holiday apartment prices range from £285-£490 per week during peak season, which is fantastic value for money for travellers. BA's commitment to the country with up to 5 flights a week into Tirana suggests this is a promising area for both savvy travellers and investors to explore something as yet untapped by the masses."

Indeed, Albania offers some of the lowest prices and taxes across Europe and along with robust economic growth, offers plenty of opportunity for buy to let investors.

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania's hotly tipped Adriatic coastline comments,

"Rising tourism levels founded on new regional transport infrastructure (road and air) continue to increase the demand for accommodation. This is generating considerable potential for buy to let investors in Albania and with the nation receiving 4 million visitors last year there is huge potential to grab a slice of the action.

"Indeed, we expect that there will be strong rental demand in Lalzit Bay based on the exclusivity of the resort, the facilities on offer and the quality of the finished properties. We have estimated that a 2 bed apartment costing €70,000 will generate rents of €500 per week over the peak summer months at 75% occupancy giving an annual gross rental income of €6,000 - that's an overall rental yield of 8.57%. Pretty good considering we know there's a decent rental market for off-peak months too but we've been quite conservative here. "

Energy efficient homes could cut bills by 55pc

Ivan Radford — Fri, 11 May 2012 10:15:00 GMT

Living in today's new homes could create annual savings of around 55% on gas and electricity spending - that's over £1,300 in today's market1, according to the NHBC Foundation and Zero Carbon Hub.

Following its UK-wide research project into consumer attitudes towards zero carbon homes2, NHBC Foundation has worked with the Zero Carbon Hub to chart the energy savings that could potentially be achieved by living in different types of energy efficient new homes.

Comparing the indicative energy consumption of today's ‘upgraded' Victorian homes3 against new homes built to 2010 requirements; it concludes the following annual savings could be made:

• A 4-bed detached new home could be 55% cheaper to run (saving £1,312)

• A 3-bed end terrace could be 52% cheaper to run (saving £840)

• A 3-bed mid terrace could be 46% cheaper to run (saving £642)

• A 1-bed ground floor flat could be 47% cheaper to run (saving £426)

And, looking to the future, annual savings could be around £1,875 (79%) in 2016, when further Government zero carbon home construction targets come into effect.

Neil Jefferson, Director at NHBC Foundation and Chief Executive of the Zero Carbon Hub, said: "Household energy usage is still one of the biggest contributors to carbon emissions in the UK but the design of new homes means they are much more energy efficient than older housing stock.

"The NHBC Foundation's report looked at what people think about energy efficient homes, and what the influencing factors are in terms of deciding to live in one. One of the clear findings was that consumers need far more information about the cost savings they could make by living in an energy efficient home, before they will commit to living in one.

"The cost data we have produced, while not guaranteed, gives an indication of the kind of monetary savings that could be made in the long term. We believe this kind of data could be useful for people making the decision to buy a new home."

Encouragingly for the country's sustainability agenda, findings from NHBC Foundation's report also reveal that 70% of people think a home described as ‘energy efficient' would be an attractive purchase4. This increased to 86% of 16-24 year olds. Some 69% of consumers - and 96% of younger people - also agreed that they would be willing to pay a premium for energy efficient homes.

Younger people also showed the greatest enthusiasm for renewable technologies in the home, with 60% of 16-24year olds saying they would be interested or very interested in buying or renting a home with renewable technologies such as photovoltaic (solar electric panels).

Neil Jefferson said: "Our report into attitudes towards zero carbon homes revealed some really positive sentiment towards energy efficient living - people seem keen to do their bit towards helping the environment. However, there is still widespread confusion amongst consumers about the terminology used, the operation and maintenance of renewable technologies, and costs associated with living in a home that is highly energy efficient. For low and zero carbon housing to become more widely accepted, the whole topic needs to be made less complex and far more consumer-friendly."

Moving from the UK to Australia

admin — Fri, 11 May 2012 10:12:00 GMT

With Australia recently being ranked as the second best place in the world to live by the United Nations' Quality of Life index, compared to the UK's 28^th, Brits would not be blamed for eyeing up a move down under. Furthermore, with over two thirds of British expats in Australia saying they have no plans to return to the UK, it seems Brits are becoming far more satisfied with the Aussie lifestyle to that back at home. Respondents to the Lloyds TSB survey cited the 2011 summer riots and the UK's economic downturn as reasons for not returning, with 64% interviewed feeling that they were financially better off living abroad. Given these surveys, Brits who have long been thinking of making to move to Australia would be forgiven for finally making the move. Here are a few tips for those thinking of relocating down under.

Research

For such a big move, it has to be the right one. Firstly, research what is required to reside in Australia in terms of visas. Secondly, take research to a more local level by looking at local crime rates, schools, employment rates and local attractions. These statistics are readily available over the Internet.

Set a Date

Although this is such a big decision, there is nothing worse than constantly delaying and putting it off. Set a date and work towards it.

Have a Clear Out

This is the best chance to clear away some of that old junk that has assembled in the attic and gather exactly what you need for your big move. Packing is the ideal opportunity for this so start afresh by setting up a "keep" and "throw away" system - and be ruthless!

Hire a Specialist Removal Company

For such a big move, valuables and belongings need to be transported safely and efficiently; therefore hiring a removals company that specialises in moving to Australia from UK is a must.

Sources: Overseas Emigration UK

Video - Top 10 skyscrapers to see before you die

admin — Fri, 11 May 2012 09:32:00 GMT

They reach high into the atmosphere to captivate us with their imposing dominance. Join us as we count down the Top 10 Skyscrapers you need to see before you die.

Watch the full run-down on TheMoveChannel.tv:

http://www.themovechannel.tv/2012/05/10-skyscrapers-to-see-before-you-die/

Spain's bailout: Have we finally reached the bottom?

Ivan Radford — Thu, 10 May 2012 15:14:00 GMT

Photo credit: Sonia Fernandes

The Spanish government is expected to bailout the country's third-largest bank this week.

Bankia, and its parent company BFA, hold €31.7 billion of Bad real estate assets, according to Reuters, making them the most exposed Spanish lender to the financial crisis. Bankia chairman Rodrigo Rato resigned at the beginning of the week, prompting reports that the government is likely to back-track on its pledge not to bail out a financial institution with public funds and instead inject €10 billion into the bank.

But while political rows surround the proposed bailout, with Spanish public services in need of equal financial support, Spain's banks are also attracting headlines by over-valuing their real estate.

"The banks are over-valuing property on their books," Global Edge wrote this week, "which is hiding the true scale of the problem and distorting local property markets."

Barclays has also been under fire for its Spanish property reports, which predict that "Spanish home prices will drop by up to 35% before reaching the bottom of the downturn".

Confusion arises from the severity of the current house price decline, which is still under dispute. TINSA's official statistics show that April's property prices fell by an average of 12.5 per cent, marking a cumulative drop of 29.8 per cent from the market peak. Barclays, on the other hand, say the decline from the market peak is just 22 per cent. Are prices expected to fall another 35 per cent on top of that?

With banks over-pricing property, the drop is thought by some to be as high as 44 per cent already. "A 40% rate of fall has now been confirmed by Spain's Minister for the Economy," reports Property in Spain, "suggesting that Barclays Capital's data is largely unreliable."

If prices actually have decreased by 40 per cent since 2008, when will the market bottom out?

Some experts think the bottom may now be in sight. Others are less sure. Before the market can fully recover, the extent of the country's falling house prices needs to be revealed. If the Spanish banks dropped their property prices immediately, it would only add to the lack of confidence in the market. On the other hand, it would provide even more affordable investment opportunities for overseas buyers.

Mark Stucklin, Spanish Property Doctor for The Sunday Times, comments: "Barclays Capital are right to say that prices might fall 40 per cent in total, but wrong to say that means another 18 per cent of declines to come. We are already almost at the bottom, certainly when it comes to holiday homes on the coast."

Spanish homebuilder Taylor Wimpey España is even more optimistic. Highlighting the increasing number of tourists in Spain, Sales Manager Mark Pritchard comments:

"Q1 2012 has been rather successful for Spain with British and German bargain hunters choosing the nation as their top holiday and second home destination. Searches on Hotels.com U.K for hotels in Spain for example increased by 106 per cent over the same period last year and we at Taylor Wimpey España have actually seen a 21 per cent increase in the number of units sold between January and April this year over the same period in 2011."

Select Resorts has seen a similar level of demand returning to the market, but suggests that buyers are less concerned about prices bottoming out and more focussed on quality of investment:

"We are experiencing renewed demand for property in up market developments in Spain, such as La Manga Club. There is a huge amount of property available in Spain, at knock down prices, but it is always important to buy property where the amenities are of a high standard and are being well maintained. La Manga Club, for example, has fabulous facilities including 3 championship golf courses, tennis centre and health spa, to name a few," MD Pauline Bonanni told TheMoveChannel.com.

"Buyers are very savvy now, looking for the best deal possible. They are not necessarily looking for the cheapest property but the best value for money."

How much lower can prices go?

Browse our listings of apartments, houses and property in Spain:

http://www.themovechannel.com/property/details/5714791/

US market is at bottom, says mortgage expert

Ivan Radford — Thu, 10 May 2012 12:37:00 GMT

A mortgage expert has added his voice to the crowd of experts saying that America's housing market is reaching its bottom.

Lewis Ranieri, chairman of financial services provider Ranieri Partners, spoke at a New York conference about the falling prices of the country's real estate: "Many, myself included, think we are at a bottom."

The comments came just as CoreLogic finds house prices increasing for the third month in a row and the National Association of Realtors claims that US property has "turned the corner".

Ranieri added: "I truly believe the future of the industry will be decided in the next eight months."

Source: OPP

Asking price reductions reduce across UK

Ivan Radford — Thu, 10 May 2012 12:32:00 GMT

The number of properties in the UK with asking price reductions has reduced, according to Zoopla.

The property website's latest report shows that despite the recent downturn in the housing market, fewer sellers are lowering prices, with the average discount dropping too.

34 per cent of houses on the market have been discounted since their original listing, reports Zoopla, lower than the 37 per cent recorded in February. The average discount has reduced by over £500 over the same period, now standing at £19,012.

The total amount knocked off original asking prices across the country is now £2.9 million, with £1.3 million of that occurring in London. Newcastle recorded the biggest discounts of 11.1 per cent, with Liverpool's 9.2 per cent close behind.

Nicholas Leeming, of Zoopla.co.uk comments: "The changes to the stamp duty rules significantly increased the cost of buying for many and there were concerns this would quash demand and force sellers to make bigger cuts in their asking prices. However, it appears demand has remained strong enough for average discounts to actually fall.

"While sellers in some areas have had to make significant price concessions in order to attract buyers, it's encouraging to see the overall trend of fewer price reductions and a drop in the size of these reductions."

Hong Kong land sales suggest market is cooling

Ivan Radford — Thu, 10 May 2012 12:21:00 GMT

Land in one of the city's exclusive areas sold last week for less than expected, suggesting that Hong Kong's property market may be cooling down.

The winning bid for the site near Repulse Bay Road, one of the richest areas in the metropolis, spanned a total of 42,000 square feet but sold for HK$1.67 billion - lower than the HK$1.68 billion predicted by experts.

Hong Kong's new leader, Leung Cun-ying, has vowed to increase housing supply in the city when he takes office in July, reports Bloomberg. His announcement follows continuing government measures to cool down the city's real estate following price rises of over 78 per cent in the last three years as stock levels diminished and mortgage rates fell.

But Leung has said that he doesn't consider the property market to have overheated, promising not to introduce regulations that could damage developers.

"I'm not going to bring down prices, rents artificially through government actions," Leung told the press. "Affordability will not catch up with prices quickly."

At present, Hong Kong is the most expensive place in the world to buy an apartment, according to Savills, with prices roughly 55 per cent higher than London.

Drive time for prime time in M25 market

Ivan Radford — Thu, 10 May 2012 11:50:00 GMT

Prime office stock will drive the M25 office market for the next four years, predicts Knight Frank.

Companies looking to upgrade from Grade B stock to Grade A will fuel market activity for the foreseeable future, the agence declared at its annual M25 office market presentation at the Dorchester Hotel.

Take up in the M25 region since January 2011 has focused almost entirely on Grade A new stock and this has encouraged speculative development. Nine schemes delivering 740,000 sq ft of new office space are underway - 400,000 sq ft of it completing this year. Knight Frank predicts that there will be a hiatus in new starts with further development not being delivered until 2014.

High headline rents have returned to pre-2009 levels in several key markets. Headline rental growth will now spread in tightly supplied, buoyant markets in the Thames Valley and West London, such as Maidenhead, Uxbridge and Staines.

Emma Goodford, head of South East offices, commented: "Good buildings in good locations are letting. It isn't rocket science - companies with strong balance sheets can afford to pay the best rents for the best quality space. Churn by occupiers wanting to upgrade their space will drive the market and we predict this will account for more than 80% take-up."

"Key markets in the Thames Valley are attracting the most attention from developers. However, developers may also consider those towns with a combination of high lease events at Grade B buildings which have low Grade A supply. Based on these criteria, Richmond, Croydon, Woking, St Albans, Crawley and Gatwick arguably offer the best development prospects."

Dordogne dominates British buyers’ wish lists

Ivan Radford — Thu, 10 May 2012 11:48:00 GMT

The Dordogne dominates British buyers' wish lists, according to a new study.

The area has always been popular with international buyers, reports the French notaires, with over 15 per cent of property sales in both the Dordogne and the Alpes-Maritimes going to overseas investors in both 2011 and 2010.

But British demand for Dordogne property is staying strong, according to the notaire's latest annual review, while interest in Cotes d'Azur has dropped off. Other nationalities are now taking the Brits' place, piling into the South France's popular tourist region.

Other regions that were also popular with international buyers last year include Lot (13 per cent), Creuse (11 per cent), Charente (11 per cent), Aude (10 per cent) and Ain (10 per cent).

5.3 per cent of all property transactions in 2011 went to overseas buyers, consistent with the last three years but down from 2004's high of 6.3 per cent.

The report excludes purchases of property in Paris, adds French Property.

Landlords "relieved" that squatting is a criminal offence

Ivan Radford — Thu, 10 May 2012 11:38:00 GMT

Landlords are "relieved" that squatting is soon to be a criminal offence in the UK.

In a statement issued by the Landlord Syndicate this week, the support centre welcomed the news that squatters will face up to a £5,000 fine and a six-month prison sentence from 1st September 2012.

One member of The Landlord Syndicate who has fought for some time to enforce this law, even supporting a campaign presented to Parliament in April 2011, is Paul Shamplina, also founder of Landlord Action.

Paul commented: "Squatting cases have been on the rise for some time now, many by organised gangs whom have travelled thousands of miles to engage in squatting knowing they will be protected by the law. It was only when some high profile cases hit the headlines that people sat up and took notice of the growing injustice on homeowners."

In light of this news, The Landlord Syndicate are warning landlords not to be complacent, "Enforcing a law does not mean that the activity of squatting will be eradicated, it just means there are tougher measures to deal with it which should prevent landlords and homeowners having to enter into lengthy and expensive legal battles" adds Paul. That means landlords still need to avoid void periods and ensure they invest in good preventative security measures.

US house prices up for third month in a row

Ivan Radford — Thu, 10 May 2012 11:37:00 GMT

House prices in America are less than 1 per cent below 2011 levels, according to the latest CoreLogic report.

Nationally, home prices (including distressed sales) fell by just 0.6 per cent year-on-year, while monthly figures suggest an encouraging growth of 0.6 per cent in March from February - the first monthly increase since July 2011. Excluding distressed sales, the numbers are even more impressive, with house prices increasing for the third month in a row.

The CoreLogic House Price Index also shows that year-over-year prices, excluding distressed sales, rose by 0.9 percent in March 2012 compared to March 2011. Distressed sales include short sales and real estate owned (REO) transactions.

"This spring the housing market is responding to an improving balance between real estate supply and demand which is causing stabilization in house prices," said Mark Fleming, chief economist for CoreLogic. "Although this has been the case in each of the last two years, the difference this year is that stabilization is occurring without the support of tax credits and in spite of a declining share of REO sales."

"While housing prices remain flat nationally, in many markets tighter inventories are beginning to lift home prices," said Anand Nallathambi, president and chief executive officer of CoreLogic. "This is true in Phoenix, New York and Washington, for example, which all reflect higher home price values than a year ago. A continuation of this trend will be good for our industry across U.S. markets."

Mining towns are ones to watch in Australia

Ivan Radford — Thu, 10 May 2012 11:30:00 GMT

Mining towns are the ones to watch in Australia, according to experts.

The areas are experiencing "huge demand" for housing, explained Brett Alegre-Wood, founder of Your Property Club. The towns are becoming increasingly affordable, making them a "top target" for property investors Down Under.

Indeed, while Melbourne and Sydney remain popular with buyers, places like Victoria are the places to go for long-term investment, Property Showrooms adds, highlighting the recent report from the HIA that listed settlements away from the capital as the country's top 20 real estate hotspots.

Demand for Thai homebuilding rises by 20pc

Ivan Radford — Thu, 10 May 2012 10:56:00 GMT

Demand for new build homes in Thailand increased by 20pc in the first quarter of 2012, the Thai Home Constructions Association has revealed.

The company found demand rising outside of Bangkok, with the strongest increase in the North, Northeast and South regions. The growth has been attributed to the rising prices of Thai property, which is pushing buyers towards newer, more affordable accommodation, in addition to Bangkokians looking for second homes in the provinces.

Association president Sitiporn Suwanasut told the Bangkok Post that the recovery in homebuilding was "proceeding quicker than expected", with expanding construction firms outside of the capital city best positioned to benefit.

Indeed, one survey by the Real Estate Information Center showed the Chon Buri, the developer with the highest number of projects outside of Bangkok (534), has already sold 69 per cent of its 87,500 units on the market. The rest are predicted to sell within the next six months.

But the rising activity in the sector has also led to a shortage of workers as labourers were affected by the floods last year. The outlook for the rest of the year depends on whether the floods return, but momentum is expected to get stronger in the second quarter of 2012.

New Channel 4 home renovation series looks for participants

Ivan Radford — Thu, 10 May 2012 10:52:00 GMT

A new UK TV series about home renovation is looking for participants.

If you have bought a renovation project or are about to renovating a property, then the new Channel 4 series could help you win £5,000.

Lion Television are about to start production on the new show for Channel 4 and are looking for people to take part. Developers will compete against each other hoping their project will emerge triumphant, with the winner bagging a cash prize of £5,000.

Lion TV are looking for people across the UK who are renovating their properties with a schedule of no more than 6 months. If you fit the bill, email renovation@liontv.co.uk or call 0141 331 6051 for more information and an application form.

Infinito Real welcomes reports that Portugal is "on track"

Ivan Radford — Thu, 10 May 2012 10:49:00 GMT

A recent report stated that The European Union, European Central Bank and the International Monetary Fund said that Portugal was on track and might be able to stop relying on emergency support by next year. Stephen Anderson, Managing Director of Portugal based estate agent Infinito Real, says that this is great news considering all the negative press surrounding a possible second bail-out for the country, and a reflection of additional signs of an improved economy.

"This is not the only positive indication of development for Portugal in general and also the property market. The banks have started to play their part and we now have a number of them offering a much higher than normal Loan To Value on their own repossessed properties, even going up to 100% of the purchase price with spreads of 2% for non residents. All costs associated to the mortgage deal have now also been reduced with all the valuations and many of the property checks having already been completed."

In addition to this good news, even this early in the year, there have been visible signs of an uplift in tourism and it has been reported that the biggest growth has been seen in the Algarve.

Stephen comments: "In the last few months we have seen a lot of welcomed publicity for the Algarve ranging from the award winning Marina of Vilamoura to Portugal being named the best place to surf in the world. As well as this, Portugal was reported to be the cheapest place in Europe to eat out. All this coupled with low-priced flights and additional route paths into the country from throughout Europe have been wonderful boosts to the area."

The next few of months will establish if all of this will bring additional interest from overseas, but Stephen says that now would be a good time to buy for anyone looking for potential investment opportunities as the lower house prices, a result of the economic downturn, are offering strong rental returns. "On average, rental yields achieved currently are around the 5% mark. In regards to high demand properties such as a beach front villa this has been reaching double figures. A stronger exchange rate versus a year ago also means that prices are even more affordable with a 20% gain to be had on sterling to euros."

Recession, what recession? Agents deny double-dip impact

Ivan Radford — Thu, 10 May 2012 10:15:00 GMT

Agents are lining up to face the UK's recession head-on, denying the impact of the double-dip on the property market.

While many have jumped on the news as a sign that the property market will spin into a state of panic, Strutt & Parker believe that there is less reason to worry and that in reality the majority of buyers and sellers will be only marginally affected.

James Mackenzie, head of the agent's Country house team, dismisses it as another storm in a teacup:

"The reality is that recession is a normal - if unpleasant - part of the business cycle. Business sentiment has improved markedly since late last year and, despite all odds, houses ARE still selling," he told TheMoveChannel.com.

"London continues to defy the odds with prices increasing steadily and strong international interest; and now too outside London, even with limited growth in GDP, more property transactions are taking place as people become accustomed to the cyclical nature of the property market."

Mackenzie even suggests that the reported double-dip could keep interest rests low, which would in turn help first time buyers.

Barton Wyatt, on the other hand, has seen no sign of the recession in Surrey at all. In fact, the agent saw a 650 per cent increase in sales transactions in the first quarter of 2012.

Selling luxury family homes and apartments in affluent North Surrey and Berkshire, such as Park House on the Wentworth Estate, Barton Wyatt reported uplift not only in the volume of property being sold in 2012 but also the value. Wyatt's records show that in the first three months of 2011, the average sales price was £1.75 million; now, that has more than tripled to £5.8 million.

Partner James Wyatt told TheMoveChannel.com: "In contrast to much of the UK and indeed many global property markets, we have experienced marked growth over the last 12 months. Despite a brief lull in interest after the recent Budget announcement and hike in stamp duty, sales have picked up once again, especially to overseas buyers. This corner of the south east remains as internationally desirable as ever with 55% of all buyers in Q1 2012 being foreign nationals, mostly from Eastern Europe, Russia and the US, keen to purchase new or nearly new homes."

Strutt & Parker's Mackenzie suggests that this short-term growth may continue: "The truth of it is that people and the market have become resilient. What must not be forgotten is that the vast majority of people are buying a home for their long term future, not for the next year.

He concludes: "The market will continue to do what it has been doing since the original problems in the beginning of this latest cycle - keep ticking over - and although it may be marginally lower in some areas, the overall state is unlikely to be markedly different."

Video - Take a tour round Dick Clark's Flintstone home

admin — Thu, 10 May 2012 09:33:00 GMT

Legendary TV personality Dick Clark has put his Flintstone-inspired Malibu home on the market for three point five million dollars.

It looks like it survived the fall of Bedrock and the Stone Age, but this home still has plenty modern touches to it, especially with the generous use of windows and vaulted ceilings.

Clark is now in his 80s but it's clear that America's Oldest Teenager is certainly young at heart when it comes to his architecture.

Even though this home is clearly cave-inspired, it is incredibly well lit with sunlight during the day, and well placed lights during the night. But who would want to stay inside, when you can enjoy beautiful views of the surrounding canyons, coast, and city?

Take a tour round the home at TheMoveChannel.tv:

http://www.themovechannel.tv/2012/05/celebrity-homes-dick-clark-sells-flintstone-esque-home-in-malibu/

Infographic – Cyprus: At a Glance

Ivan Radford — Wed, 09 May 2012 15:33:00 GMT

Paphos is the most popular place in Cyprus' property market, according to TheMoveChannel.com's latest At a Glance infographic.

The region has always been a hotspot for foreign investment and the overseas portal's infographic, based upon activity in the last 12 months, shows that almost one-third of buyers are not afraid to stick with somewhere familiar: Paphos attracted 32.77 per cent of all Cyprus property enquiries.

Limasol is the second favourite area, accounting for 21.85 per cent of enquiries since May 2011. Larnaca and Famagusta generated equal levels of interest, taking 13.45 per cent and 13.34 per cent respectively. Nicosia follows close behind them, accounting for 11.24 per cent of demand, but it is a long way from Paphos, which received almost triple the number of enquiries.

The least popular district by a significant margin is Kyrenia, in Northern Cyprus, which was responsible for only 7.35 per cent of activity on the portal during the last year. This lack of interest is the result of a lack of sellers as opposed to buyers; the majority of Northern Cyprus property listed on TheMoveChannel.com falls within Famagusta, suggesting that there are not many homeowners in Kyrenia looking to move but also that tourist developments tend to be in other regions.

Indeed, the Top 10 Cyprus locations searched for by buyers all fall outside of Kyrenia. Unsurprisingly, the three largest cities in the country attracted the most attention, with Limassol and Larnaca ahead of the capital Nicosia. Paphos' most popular place, Peyia, came in fourth, but the region accounts for three of the Top 10 destinations, reinforcing its high profile with buyers.

The infographic also displays the search behaviour of buyers over the last year. Users looking for Cyprus real estate in Google tend to search between May and July, most commonly using the phrase "Cyprus property". Like the other traditional markets depicted by the At a Glance infographics, the most widely targeted type of property is "houses for sale in Cyprus". Indeed, between the months of August and October last year, the demand for houses was so strong that it generated as many Google searches as the general phrase "property in Cyprus".

Editor Ivan Radford comments: "It's no secret that the official Cyprus property sales figures have decreased as the global financial climate worsens. In times of economic uncertainty, buyers frequently turn to familiar property hotspots for investment opportunities. With Paphos visibly the most popular region on the infographic, Cyprus is no exception. Indeed, the most commonly searched-for destinations in the country are almost all towns and resorts on the coast, which emphasises the importance of tourist demand for both lifestyle buyers and investors.

"The biggest surprise is that while international demand has reportedly decreased, searches in Google for ‘Cyprus property' have stayed relatively constant. The phrase appeared in 1,300 searches in April 2012 compared to 1,900 in May last year; a sizeable drop of 32 per cent but one that, compared to national statistics, should perhaps be sharper.

"The At a Glance infographic illustrates a lot of things we already know about Cyprus' property market, but the interesting thing it shows is that while demand for Cypriot real estate has apparently disappeared, buyer interest still seems to be strong."

Click here for the full infographic.

Notes to Editors

The website address is http://www.themovechannel.com and the office address is 24 Jack's Place, Corbet Place, Spitalfields, London, E1 6NN.

Contact Dan Johnson on 0207 952 7650 for further information.

UK commercial property improves in April

Ivan Radford — Wed, 09 May 2012 13:18:00 GMT

UK commercial property performance improved in April, according to CBRE.

The firm's latest UK Monthly Index reveals that there was a marginal increase in headline total returns, as capital value declines slowed, which allowed total returns to increase by 0.1 per cent compared to the previous month.

This improvement was again driven by the London office market, which maintained its lead over the UK's other sectors. Overall, the Central London commercial property market remained robust, as capital growth stayed positive at 0.1%, largely driven by the West End and Midtown sub-sectors. This is in no small part down to the strength of occupier markets in the Capital, which saw bumper rental growth of 0.7% this month, helping to offset softening yields in some other sub-sectors.

There was also a slight improvement from retail property in April, which delivered flat total returns (March 2012: total return of -0.1%), as growing income offset capital declines. This small gain was largely due to a better result reported by retail warehousing, which saw a positive total return of 0.2% in April.

Nick Parker, Senior Analyst of Economics & Forecasting at CBRE, said: "Buyers continue to take a cautious stance in 2012, influenced by prevailing economic uncertainty. That said, London remains a clear focal point for active investors, with a strong £3.7bn exchanged in the first quarter, driving continued competition and positive capital growth in April.

Germany bubble fears blown up by rising prices

Ivan Radford — Wed, 09 May 2012 13:07:00 GMT

Rising house prices are inflating fears of a German property bubble.

Property prices increased by 2.5 per cent in 2010, according to a recent report from Moneyweek, a small amount compared to surges at the peak of the European housing boom but they continued to rise by 5.5 per cent in 2011, twice the rate of inflation.

Major cities also saw values jump by up to 10 per cent, as investors continue to be attracted to Germany's stable economy. While banking regulations remain strict, drawing further buyers in, the increasing values have ironically fuelled fears that the country could witness a similar boom and bust to the bubble that occurred 20 years ago.

"Right now we see money fleeing from other assets into real estate," DekaBank chief economist Ulrich Kater told Reuters this week. "That led to the first movements of prices and those movements can take on a life of their own."

But experts are keen to highlight the difference between the two bubbles: whereas demand in the 1990s was driven by tax breaks, the current boom is fuelled by interest not just from overseas investors but also local residents, as an increasing number of people choose to live alone. Perhaps more importantly, the aim of investors is to save, not to profit from rising prices; indeed, further increases in values would only reduce the current yields on rental property.

One estate agent, Reuters reports, predicts price increases will slow down in 2012, while DZ Bank predicts them to grow at a smaller rate of 2 per cent. The bubble, it seems, is not set to burst.

"We have to get some houseowners' expectations down to realistic pricing," commented an Austrian investor, "but it's working and we are therefore back in investment mode."

Benefit cuts may cause thousands to lose homes

Ivan Radford — Wed, 09 May 2012 12:25:00 GMT

Thousands may lose their homes as a result of benefit cuts, the National Housing Federation has warned.

Over 90,000 people will start to hear from today how they will be affected by the new benefits cap - with thousands set to lose their homes altogether.

The Department of Work and Pensions is writing to more than 90,000 adults (over 67,000 households) in danger of losing benefits when the overall benefit cap is introduced in April 2013. The letters will be the first time households discover they could be at risk. With 44% of those set to be hit living in social housing, many are already struggling to make ends meet.

National Housing Federation chief executive David Orr said:

"The letters will come as a shock to many vulnerable families. The overall benefit cap is a crude measure that fails to reflect the stark differences in housing costs across the country, caused by the desperate shortage of affordable housing.

"Housing associations want to do everything to help minimise the brutal effects of the cap. But they can only do this when they know who will be affected. We're calling on councils to share their information soon so housing associations can identify who will need support. With under a year to go before many people start losing their homes, there's no time to lose."

"The National Housing Federation, which represents housing associations in England, is calling for local authorities - who will know which families may be affected - to share the data sooner rather than later, as social landlords like housing associations have less than a year to prepare tenants for the changes by helping them find work, get financial advice or a new affordable home on their new benefits.

"Councils are being urged to share crucial data on which families may face benefit cuts as warning letters hit doormats from today."

Chelsea submits plans for Battersea Power Stadium

Ivan Radford — Wed, 09 May 2012 12:01:00 GMT

Chelsea is shooting for Battersea Power Station, the club has announced.

The Premier League football team has submitted a bid to move to the disused Battersea Power Station and develop it into a new, rectangular stadium.

The proposal, entered before Knight Frank's deadline of 12pm last Friday, suggested a 60,000 seat stadium, including a 15,000 seated stand behind the south goal, which according to EGI is "likely to be the biggest one-tier stand in football".

In accordance with development conditions, the project would also include shops, housing and offices, while Chelsea would also pay a contribution to extending the Northern Line. The Grade II-listed turbine hall and towers would be restored and stay in their original locations.

"Battersea Power Station is one of London's most famous buildings and has the potential to become one of the most iconic football stadiums in the world," the club told its fans, despite the current opposition from Wandsworth planning authority to the idea of a football stadium at the site.

"We are not the only interested parties and there is no certainty that we will be successful. We also appreciate that we have many significant hurdles to address if we are to build a new stadium on the site," added the club.

"We must also stress that making an offer for the Battersea Power Station site does not mean the club has made a definitive decision to leave Stamford Bridge."

Co-operative cancels interest only mortgage

Ivan Radford — Wed, 09 May 2012 11:51:00 GMT

The Co-operative Bank has cancelled its interest-only mortgage range.

As of yesterday, new customers "will only be able to take out mortgages on a capital and repayment basis", reports Property Wire.

The lenders attributed the decision to axe the loans to decreasing house prices as well as interest rate uncertainty, which had seen demand drop. Indeed, less than 10 per cent of new customers were taking out interest only mortgages, the bank revealed, a drop from the 25 per cent recorded in 2007.

The Co-operative's statement added that it still supported the proposed changes for next year by the Financial Service Authority's Mortgage Market Review:

"‘We expect that these changes will see a move to all customers who apply for a mortgage being assessed on the basis that they can afford a capital and repayment loan. In line with these suggestions we are choosing to lend to new customers on a capital and repayment basis only moving forwards... As a responsible lender, The Co-operative Bank remains committed to our existing interest only mortgage customers who will still be able to switch to any open product for the same amount of borrowing on an interest only basis when they come to the end of their deal. In addition they will also be able to take their interest only mortgage with them should they move home."

Forget Spain: Go to Romania, say experts

Ivan Radford — Wed, 09 May 2012 11:36:00 GMT

Investors are tipped to try Romania instead of Spain this year by property experts.

Schoenherr Lawyers highlighted less established markets, including Bulgaria and Romania, at the IPD/Property Investor Europe Central and Eastern Europe Conference last week, noting that banks have large real estate portfolios to sell.

Prices will fall, predicted the lawyers, making the Romanian market more attractive to Western Europe's more familiar alternatives.

"It's going to be very dynamic and volatile, a very exciting investor atmosphere," partner Denise Hamer commented.

Office properties in Bucharest were also highlighted by an Austrian firm, reports Property Showrooms, following high demand for a new shopping mall in Ploisesti announced last month.

Qatar construction comes out on top

Ivan Radford — Wed, 09 May 2012 11:30:00 GMT

Qatar construction will top most developed economies, according to new reports.

The construction market in the country will average a yearly increase of 12.5 per cent, the Gulf Times reports, with $214 billion worth of projects planned or under development in October last year. This figure marks an compound annual growth of 40 per cent between 2005 and 2011.

Source: AME Info

Brazil welcomes record number of international visitors in 2011

Ivan Radford — Wed, 09 May 2012 11:19:00 GMT

If the latest figures from the Brazilian Tourism Ministry are anything to go by, Latin America's largest country is enjoying a boom in international tourism with a record breaking 5.4 million visitors welcomed in 2011.

According to the Tourism Ministry, international visitor arrivals increased by 5.3% compared to 2010 with the number of visitors from within the continent rising from 2.384 million in 2010 to 2.628 million in 2011. Visitors from neighboring Argentina increased by 13.9% alone compared to 2010.

Brazil's wealth of cultural, gastronomic and environmental attractions also drew visitors from all over the world with Russian tourists up by over 40%, the lucrative Chinese visitor up by nearly 48% and Indian and South African guests up by 14% and almost 7% respectively in 2011.

Dean Thomas, MD of DLT Property, developers of coastal resort Palm Springs Natal, comments:

"Over the last decade Brazil has steadily attracted around 5 million international visitors annually but the hard work of state-run tourism agency Embratur in promoting Brazil and its delights to the world has clearly paid off.

"It is wonderful to see not only other Latin American nations visiting Brazil but also tourists from all over the world touching down to sample the sun, sea, sand and samba this wonderful nation is known for. It is testament to Brazil's appeal that even in a recession visitor arrivals from Europe were also up in 2011 to 1.62 million."

With tourism playing an ever more important role in the Brazilian economy contributing 3.3% to national GDP in 2011 and accounting for 2.9% of employment and the nation aiming to be one of the world's top 5 tourist destinations by 2022, the Brazilian government is investing heavily in infrastructure and hotels to accommodate additional visitors.

As hosts for the 2014 FIFA World Cup, a total of R$33 billion will be invested in infrastructure and 700,000 jobs created directly and indirectly connected to the event. Over 600,000 international visitors are expected and 3.1 million domestic tourists will travel between cities and states to watch the games. The 2016 Olympic Games will provide a further boost to the Brazilian tourism market with some experts suggesting that it could stimulate the economy by some R$250 million.

Dean Thomas concludes:

"This is a very exciting time for Brazil. In the face of global economic uncertainly, Brazil has not only survived but thrived, it is now the fastest growing economy in the world having overtaken the UK as the 6^th largest in the world and with more international tourists than ever before setting foot on Brazilian soil, the outlook for 2012 and beyond remains very positive. I certainly believe that Brazil has proven itself and now is the time to invest."

UK house prices will increase by 8pc by 2015

Ivan Radford — Wed, 09 May 2012 11:17:00 GMT

UK house prices could increase by 8 per cent by 2015, according to CBRE.

The firm's latest forecast predicts that although values will fall slightly in 2012, UK house prices will start to increase again next year and could then continue to increase over the following three years. The report adds that Prime Central London will continue to out-perform the national market with values jumping by 6 per cent this year and a total of 22 per cent by 2015.

Jennet Siebrits, Head of Residential Research, CBRE, said: "Despite the market being characterised by monthly fluctuations, the longer-term outlook for the housing market is fairly static. We don't expect it to pick up until the economy fundamentally improves. Low interest rates are continuing to stave off repossessions and forced sales, but a substantial proportion of would-be buyers remain unable to move. Ultimately, bank lending still needs to loosen further to spur on housing market activity."

Buyers of homes over £2 million will face an additional £40,000 bill following the introduction of the 7 per cent rate of Stamp Duty Land Tax (SDLT). However, of more concern is the new 15 per cent SDLT rate for ‘non-natural persons'.

Jennet Siebrits said: "Property prices in prime central London have increased by 30 per cent over the last two years, so the additional expense incurred by the introduction of the new 7 per cent rate has to be viewed within the context of the significant and ongoing price rises in high value homes.

"The new regulation designed to prevent overseas buyers avoiding SDLT could have unintended consequences as it also captures UK domiciled companies. However, it must be stressed that this only affects a small proportion of the market as transactions of homes over £2m only accounted for 0.25 per cent of the market last year across England and Wales."

Paris launches first new development along the Seine in 25 years

Ivan Radford — Wed, 09 May 2012 11:03:00 GMT

Paris has welcomed the first real estate development along the banks of the river Seine in 25 years.

It is rare for a new real estate project to be launched in the French capital because land is extremely scarce, but the luxury apartment complex, located in the heart of Paris' fourth arrondissement, will be the first on the riverside in nearly a quarter of a century.

John Hagelin, director of developer International Luxury Real Estate, explained that only 73 units will be available for sale, but that the location trumps the exquisite design and investment potential: "The best feature is something man cannot manufacture, the glorious views of the Seine in all its glory."

The building will be environmentally friendly, Hagelin announced, with solar panels and thermal and acoustic insulation to minimise energy costs. He added that interest from both domestic and international investors is already high.

The project launch follows news from Knight Frank that prices of property in Paris have risen by 20 per cent in the last two years, as the city's real estate market remains a hive of activity.

The Seine's new riverbank development is scheduled to be completed by 2014.

George Lucas puts affordable housing plan into hyper-drive

Ivan Radford — Wed, 09 May 2012 11:02:00 GMT

George Lucas is putting his affordable housing plans into hyper-drive.

The Marin Community Foundation announced that the Star Wars director is working with them to "explore options" for developing affordable homes at Marin County's Grady Ranch.

Lucas vowed to develop low-cost accommodation on the ranch after the construction of a new studio was blocked by the Lucas Valley Estates Homeowners Assocation, but the comments were widely dismissed as an insult.

In a letter to the association, he said he could no longer maintain "a constructive relationship with the neighbours" and called Marin a "bedroom community better suited for subdivisions instead of business", reports the San Francisco Chronicle. He added that he would "find a developer who [would] be interested in low-incoming housing since it is scarce in Marin."

Now, Lucas has confirmed that he is definitely pushing ahead with building property on the land.

"We don't know yet what might be able to be developed there, but the notion of being able to explore his property and see if some beautifully designed family or senior housing can be developed there is too wonderful to pass up," Thomas Peters, president and CEO of the foundation, said.

"One of the incredible offers that Mr. Lucas made is that he would make available the extensive technical studies that have been done on that land, including water, topography, creek access and other engineering data that would give us a head start and help us determine whether senior or affordable housing can be built there."

Video - Home Insurance: Where can you afford to save money?

admin — Wed, 09 May 2012 10:39:00 GMT

If you have a mortgage on your house, your mortgage lender will require you to purchase home insurance as a condition of the loan to protect the bank if the home were to be destroyed.

Your agent can help you save money, both in up-front premium costs and in the long run, should you ever need to use your home insurance coverage. Be sure to remember these tips from some experts in the field...

Watch the full video on TheMoveChannel.tv:

http://www.themovechannel.tv/2012/05/home-insurance-how-do-you-know-where-you-can-afford-to-save-money/

US real estate feels the Facebook effect

Ivan Radford — Tue, 08 May 2012 14:41:00 GMT

Photo credit: Komail Naqvi

The "Facebook effect" has been felt by many things. After Mark Zuckerberg's social network acquired the photo-sharing programme Instagram for $1 billion, it rocketed to the top of Apple's App Store rankings. In California, allowing Facebook users to tell friends about their organ donation intentions saw donor registrations increase by 800 per cent.

Now, real estate has joined the list of unsuspecting victims of the "Facebook effect".

As the company prepares to put itself on the public market for the first time, Palo Alto's property market has experienced a phenomenal wave of activity. A lot of Facebook shareholders are expected to become millionaires in a matter of weeks when public investment becomes possible. Homeowners are therefore bracing themselves for a rush of wealthy buyers from the nearby headquarters - mostly by putting up their prices.

Indeed, the average price of a single-family home in Palo Alto increased by 11 per cent in the first quarter of 2012; compared to the national rise of 12.8 percent across 12 months, it is perhaps the highest quarterly price growth in the whole country.

One broker spoke to CNN about a seller they advised to list a house for $3million. The seller ignored them, advertised the property at $3.5m and promptly sold it for $3.9m.

"The locals are all gaga over Facebook and how much their houses are going to be worth," he told reporter David Kaplan.

It is bad news for buyers. One told the New York Times: "I’m kind of worried — a thousand millionaires are going to be buying houses!"

At the same time, homeowners are withholding property from the market, waiting for the rich Facebookers to descend. The combined result is a decrease in housing inventory by a staggering 57 per cent.

But a similar trend is occurring across the country, albeit at a slower rate, as America's housing inventory begins to decrease and prices rise once again. The National Association of Realtors' latest report revealed that pending home sales in March were at their highest since April 2010, suggesting that US property has turned the corner as it tries to clear its backlog of foreclosures.

"2012 is expected to be a year of recovery," commented chief economy Lawrence Yun. "Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses."

Overseas investors, free of Facebook concerns, like Florida for property, aiming to buy real estate in the tourist hotspot before prices climb back from the market bottom. In Miami, prices rose in March for the fourth month in a row, with foreign buyers making up almost two-thirds of transactions.

In contrast, Facebook's employees account for a far smaller percentage of the Palo Alto market, but their impact is much more potent. As the US market starts to return to more balanced conditions, the force of the "Facebook effect" is, if anything, making Silicon Valley's houses more unstable. CNN's broker even suggests that, should Facebook's public valuation end up below people's expectations, the town's mini-property bubble could collapse.

Perhaps that explains why, while brokers in Palo Alto list property privately for undisclosed sums (reportedly breaking the area's record transaction of $15m), Mark Zuckerberg is staying clear of the craze altogether. He moved house recently, staying in Palo Alto. His new home is a rental.

"Like" the idea of US property?

Browse our listings of houses, apartments and other real estate in America:

http://usa.themovechannel.com/property/all

French elections mean business as usual for British buyers

Ivan Radford — Tue, 08 May 2012 13:56:00 GMT

The battle between François Hollande, the Socialist challenger to the incumbent French President Nicolas Sarkozy finally came to a head last Sunday at the 2012 French Presidential elections with Hollande emerging triumphant.

But what will this mean for Brits thinking about entering the French property market?

Danny Silver, expert in French real estate and MD of The Villages Group, France comments,

"Being married to a top French economist and having lived in France for the past 15 years, I have been exposed to the French elections as they happen. With French property being my speciality I can say that going on past experience, the effect on the property market will be minimal to zero now that Hollandehas got in.

"It is important that British buyers remember that this election was simply a vote for the French Presidency not the Government so there will be no particular implication on the real estate market. It's business as normal!

"Indeed, the legal process (which has changed very little in 200 years) will remain the same with France continuing to be one of the safest nations in world to own real estate according to the IMF, World Bank and US Federal Bank. You only have to look at real estate litigation rates in France which stand at just 0.3% compared to Europe at 3.9% and the US around 8%.

"The new Presidency will not impact on many of the factors that affect the purchase of French real estate such as currency or the buying process, and with France consistently ranking as one of the most popular countries in which to live and with property prices remaining stable there is no need for potential British buyers to worry."

Buenos Aires property starts to boom

Ivan Radford — Tue, 08 May 2012 13:23:00 GMT

Buenos Aires property is starting to boom, new reports suggest, as sales increased by 13 per cent in March compared to 2011.

Transactions also increased on a monthly and quarterly basis, according to the Provincial Notary College, surging by 77 per cent in March from February.

And the growth is expected to continue, the Notary College told Property Wire, with real estate considered a more secure form of investment as opposed to savings.

Rental rates are on the up as well, with prices zooming up in the districts of Barrio Norte, Belgrano, Palermo and San Telmo. According to Reporte Inmobilario, rates increased across the city by up to 20 per cent; one bedroom apartment rents jumped by one-fifth, while two-bedrooms increased by 14 per cent and three-bedroom properties grew by 5 per cent.

Barrio Norte's rents increased the most, with two-bedroom apartment rates climbing by 28 per cent.

Phuket rental market continues to flourish

Ivan Radford — Tue, 08 May 2012 13:13:00 GMT

Phuket's rental market continues to flourish, according to new figures from Knight Frank.

An increasing number of holidaymakers are choosing to stay in short-let accommodation instead of villas, which has pushed up demand for rental properties across the Thailand island.

Indeed, visitors from Hong Kong, Singapore, Russia, Korea and India have joined the existing European renters to form a diverse range of clients interested in property from the Northern "Millionaire's Mile" (home to wealthy Russians) to the night spots of Patong and Karon.

The rental period also varies with the nationality of the tourist, with Europeans tending to stay for months at a time and Asians staying for a few days to a week. But however long they stay, more of them are choosing to do so, as tourist arrivals in Phuket International Airport hit 4.2 million in 2011.

"The two-bedroom sector is the most promising," reports Home Guru.

Edinburgh house prices rise for first time in 2012

Ivan Radford — Tue, 08 May 2012 12:55:00 GMT

Edinburgh house prices rose for the first time in 2012 last month, according to ESPC.

The Scottish property site reported this week that the average Edinburgh house price in April was £209,065 after a year-on-year increase of 1 per cent.

The Lothians also saw house prices increase, with values increasing annually by 7 per cent in Midlothian. Values dipped in Dunfermline, however, with a year-on-year drop of 5.1 per cent brining average house prices in the town to £131,570.

The first three months of the year had seen an increase in the number of homes sold and this trend continued into April with sales across Edinburgh and the Lothians up by 12% annually.

The figures follow the latest report from the Registers of Scotland, which found that although prices were down compared to the end of 2011, they had actually jumped by 1.7 per cent over the last 12 months. Sales, too, increased across the year by 9 per cent.

Rettie & Co's Head of Research, Dr. John Boyle, highlighted the importance of the annual statistics: "Although the latest release of the official Scottish housing market statistics appears mixed, we believe that, overall, this is actually a good set of results for the market. The RoS data is not seasonally adjusted, therefore real caution should be used in assessing the market on the basis of their reported quarterly change. Instead, it is the indicators of annual change that are most reliable and these show a small rise in house prices, but an encouraging larger rise in the number of sales, particularly for detached and semi-detached houses. There does seem more than a whiff of recovery."

Indeed, while sales volumes are approximately half that of 2007, the agent adds that Edinburgh is seeing a strong performance, with sales up by 56 per cent in the first quarter of 2012.

David Marshall, business analyst with ESPC, commented on the capital city's surge:

"Activity levels are still some way below what we would have seen at the peak of the market but the number of sales we've seen so far in 2012 has been significantly higher than in the last few years," he told Property Talk Live.

"Competition amongst sellers remains high so we don't expect to see prices rise over the course of the year but the number of properties being bought and sold should continue to show improvement which will be good news for those looking to move home."

UK's real estate rebound runs out of steam

Ivan Radford — Tue, 08 May 2012 12:43:00 GMT

The UK's real estate rebound may have run out of steam, according to the latest RICS UK Housing Market Survey.

The report, published at the beginning of this week, saw prices edge lower in April, with 19 percent more chartered surveyors in the UK reporting falls rather than rises in values. Expectations for future prices also reached their lowest level in 2012 so far, with 17 percent more surveyors expecting prices to drop even further.

On top of this, demand from potential buyers was also relatively flat as five percent more surveyors reported increases rather than decreases in new buyer enquiries. Meanwhile new instructions, a good indicator of supply coming onto the housing market, was once again stable as one percent more respondents reported falls rather than rises in new homes coming up for sale. While flat, the level of supply has not seen any significant drops since July last year.

Following the upturn in activity seen towards the expiry of March's stamp duty holiday, in April transaction levels entered negative territory for the first time since September, as six percent more respondents across the UK reported decreases rather than increases in transaction levels.

Across the UK, London was again the only part of the country to see prices rise, albeit at the slowest rate since the middle of 2011, while the West Midlands and Wales saw the most significant declines with net balance readings of -43 and -39 percent respectively.

Looking ahead, while surveyors' predictions for future prices saw a notable dip, expectations for transaction levels once again remained positive with a net balance of +15 percent more respondents expecting sales to rise over the coming three months.

"With the recent surge in activity brought on by March's stamp duty holiday coming to an end, it is unsurprising to see that prices across much of the country are continuing to fall," commented RICS housing spokesman Peter Bolton King.

"Renewed concerns over the economy and talk of a double dip recession dominating the headlines in recent weeks may well have served to undermine consumer confidence. What's more, the continuing lack of affordable mortgage finance is still hindering many first time buyers who cannot afford to get a foot on the property ladder."

Bulgaria's frozen market will "thaw by 2013"

Ivan Radford — Tue, 08 May 2012 12:32:00 GMT

Bulgaria's frozen property market is predicted to thaw by 2013.

Europe's 14^th largest country saw interest from international buyers increase as prices dipped and tourist appeal remained strong, but the market has since lost popularity, according to TheMoveChannel.com's Top of the Props, while construction of residential complexes has been non-existent in the last two years.

Indeed, office vacancies are at 25.4 per cent and "high-end residential is 18 per cent vacant", reports the World Property Channel.

But recent reports have suggested that the market is possibly starting to recover. Colliers found that investment transactions at the end of 2011 totalled €186 million; the highest level since 2008, although the large-scale selling off of Sofia's mall accounted for a large proportion of that figure.

Meanwhile, price decreases have begun to slow down, with apartments posting the smallest drop since the beginning of the crisis in the first quarter of 2012.

"More and more property sellers and buyers are managing to overcome the crisis mindset that had overtaken the market in the last few years and they are adapting to the new reality," Polina Stoykova, Chief Operations Manager of Bulgarian Properties, told TheMoveChannel.com last week.

UK house prices remain volatile

Ivan Radford — Tue, 08 May 2012 12:23:00 GMT

House prices grew by 0.3 per cent in the last three months, but they still remain volatile, according to the latest report from Halifax.

The Halifax house Price Index showed that UK house prices grew slightly compared to the period of November 2011 to January 2012, marking the first increase on the three-month scale since September last year after six successive falls.

On a monthly basis, however, house prices fell by 2.4 per cent in April, completing cancelling out the 2.2 per cent increase recorded in March and indicating the frequent fluctuations in the UK's real estate values.

Overall, although prices in the three months to April were 0.5 per cent lower than in the same period a year earlier, the average UK house price has not yet changed in 2012. The UK average is currently £159,883, virtually identical to the £159,888 found in December 2011.

Housing economist Martin Ellis commented: "Prices in the three months to April were 0.3% higher than in the previous quarter, marking the first rise in this measure for seven months. Despite the slight improvement in the underlying trend in recent months, house prices continue to lack real direction with the current UK average price little different to where it was at the end of 2011. The monthly figures continue to fluctuate quite widely with a 2.4% decline in April, wiping out March's 2.2% rise.

"The ending of the stamp duty holiday for first-time buyers in late March appears to have boosted home sales early this year as buyers strove to beat the deadline, and has probably contributed to the volatility in house prices in the last few months.

"We continue to expect little overall movement in prices as the UK economic situation remains challenging."

Cyprus still struggling in "unfavourable economic climate"

Ivan Radford — Tue, 08 May 2012 12:15:00 GMT

The Cyprus property market is still struggling in the "unfavourable economic climate", according to the Royal Institution for Chartered Surveyors.

The RICS Global Commercial Property Survey revealed that prices across the country are still falling, while rental yields are unattractive to investors.

"[This is] mainly due to the unfavourable economic climate, the negative forecasts for the broader economy, the lack of sponsorship and the low performances," board member of RICS Cyprus Pavlos Loizou explained to Cyprus Mail.

"We are going through a long period of trying to balance the rentals with the prices, which will be followed by an extended period of inaction, until the economy stabilises and starts to recover," he added, suggesting that commercial property yields need to jump by several per cent to lift the market out of its slump.

Source: Cyprus Mail

Georgia on Trump’s mind: Donald backs high-rise investment

Ivan Radford — Tue, 08 May 2012 11:51:00 GMT

Georgia is on Trump's mind this month, as the US property mogul revealed that he would invest in a high-rise project in the country.

Donald Trump spoke to the press during a visit to Georgia's capital, Tbilisi, admitting that he would be "putting something in" to the project on the Black Sea coast, although how much had not been confirmed yet.

The 47-storey development, called Trump Tower Batumi, was unveiled by the American investor alongside Georgia's President, Mikheil Saakashvili.

"Batumi is becoming quite a place, it's the best location, the Monte Carlo of the region," Trump said, adding that private firm Silk Road would be handling the fundraising for the project.

Georgia attracted international headlines in 2008 during a five-day conflict with Russia, leaving the country undesirable for overseas investors, but overseas interest returned in 2010, reports Property Wire, while foreign direct surged by 20 per cent last year.

Now, the country has been ranked as the world's third-fastest growing tourist destination, while its economy grew by 7 per cent in 2011.

"I know for sure that Trump's participation will be the key for success of this project. It will cause an interest among regional investors as well as potential buyers of apartments in Trump Tower," commented Silk Road Group's Chairman, Georgy Ramishvili.

Funding is expected to be completed by the end of 2012, with construction scheduled for next year.

New Zealand commercial property picks up

Ivan Radford — Tue, 08 May 2012 11:40:00 GMT

Demand for New Zealand commercial property has picked up at the start of 2012, according to the latest RICS Global Commercial Property Survey.

While Australia's activity remained "largely flat" in the first quarter of the year, New Zealand saw interest from occupiers at the headline level rose for the first time in nine months, but did so most notably for office space. Available space also rose on the quarter, while, significantly, the rental picture looks to be stabilising after several quarters of decline.

On the investment side there has also been a pickup in enquiries, adds the report, with the net balance rising to +17. For the meantime, capital values will stay broadly stable, predicts RICS, but with future investment transactions also turning positive, there could be some upside to values going forward.

In Australia, tenant demand and available space for occupation remained unchanged from last quarter, with both net balance readings moving closer to the neutral reading of zero. Accordingly, the rental outlook remained unchanged; the net balance was zero for the second consecutive survey indicating that there has been no change in rental expectations for the past six months.

Investment enquiries jumped in Q1, from -8 to +22 and transactions are expected to continue rising in the next quarter. Capital value expectations remain flat, but could begin to pick up in the coming three months if the surge in investor demand is anything to go by.

The report attributes the slight uptick in growing confidence in the global economy, which improved modestly through the first quarter of 2012, following central bank support in the UK and Europe and a brighter outlook in the US. This more positive sentiment has carried over into Oceania.

Domestically, the central banks in Australia and New Zealand have both taken notice of external events - especially the euro area situation - and have kept interest rates on hold throughout Q1.

"The Oceania region is still an attractive market place for international investors, which is being shown in these recent survey results. Australia and New Zealand continue to show a healthy market place well ahead of the northern hemisphere, which is only just starting to show signs of repair after the global down turn," commented Kaye Herald, RICS Asia Pacific Managing Director.

Real estate reactions to Boris Johnson’s re-election

Ivan Radford — Tue, 08 May 2012 11:30:00 GMT

Boris Johnson was re-elected London Mayor for a second term last Friday. The news that the incumbent Tory candidate beat rival Ken Livingstone at the polls follows months of rental increases, supply shortage and foreign investment in the capital's property. What does Boris' re-election mean for the city's real estate market?

Here is what some key figures told About Property:

Glentree International - "Progress is not far away"

"Now that Boris has come steaming back for another term we can get down to the serious business of getting the property building industry on the move again," commented Managing Director Trevor Abrahmsohn. "There is no funding, the planning process is constipated as ever and building new homes is like swimming through tapioca pudding. As certain interest only mortgages are withdrawn you have to be careful that with the new budget provisions the property market does not grind to a halt. Stuck in a morass of the government's own making.

"Boris's promotion of the government's mortgage indemnity scheme allowing the less privileged to buy property with a wafer thin deposit of five per cent is an excellent idea and should be encouraged at all costs. Bureaucracy can never be allowed to stand in the way of progress.

"Whilst the middle and top ends of the property market have enjoyed some useful activity in the last few months we feel that any work done to stimulate the bottom end of the market will find its way to the top end eventually allowing natural gravitation.

"Boris reflects the new age vitality that is so important to maintain London's cherished and exulted position in the world. It is after all, probably the most important city in the world, and draws many important people to the capital from the four corners of the earth. You need to have a man who understands the dynamics of commerce - Boris certainly does. He is a source of energy and you know wherever he is activity and progress is not far away."

Felicity J Lord - "There is only a limited amount he can do"

"Boris Johnson's ‘build to let' idea sounds good in principle but in reality would require a huge increase in such homes to make any real impact on the rental market - not to mention the ready availability of suitable land," said Sales Director Mariel Roe.

"Both [candidates] spoke about the Olympic housing legacy but this is going to happen whoever was mayor, given that the wheels have long been in motion on this particular issue.

"The reality is that because of its size, scale and complexity, the London housing market is very hard for any mayor to influence, whatever their political persuasion.

"Without the involvement of central government (and the funding), there is only a limited amount that Boris Johnson can do."

Manse & Garret Property Search - "A resounding vote of confidence"

"The Boris win in London is confirmation of general approbation in the capital of the man and some of his key policies, or at the very least, the view that we are indeed, better off with Boris," said Managing Director Karelia Scott-Daniels.

"House prices in the capital and particularly prime areas of the capital are booming and likely to continue to do so as a result of this election. It is clear that the home-owning population of London feel happier with Boris's conservative approach than Ken's socialist ideas, which included bringing empty homes into use and funding a not for profit estate agency dealing with social housing to minimise Letting Agency fees.

"Both of these would have been very unpopular with overseas investors, who are largely responsible for sustaining house price rises in the capital and who own large swathes of prime central London.

"Boris pledged an additional 10,000 new homes as part of the Olympic legacy and isn't supporting further council house building. Ken's view was to increase housing stock and he had a number of ways of doing so but such is the shortage of homes in the capital that even if he had been successful, building new council properties wouldn't have had much effect on house prices, because the people who benefit from them, don't impact house prices.

"In housing terms this election result is a resounding vote of confidence for the right and Boris's policy of not spending on building housing when lower and middle income working families are struggling.

"Boris's policies were about driving investment into London and maintaining the overseas money which keeps the local housing market afloat."

Spanish property prices fall again in April

Ivan Radford — Tue, 08 May 2012 11:22:00 GMT

Spanish property prices fell again in April, according to TINSA.

The firm's latest report saw that IMIE General Index of real estate values declined by 12.5 per cent last month, marking a cumulative drop of 29.8 per cent from the market peak at the end of 2007.

The Mediterranean coast continues to record the biggest falls in year-on-year prices, with a decrease of 14.3 per cent in the area's prices compared to 2011. This was closely followed by "Capitals and Major Cities" which fell by 13.7% compared to the same month last year. In both cases the decline was higher than the market average.

Below the market average were the "Balearic and Canary Islands" which fell by 12.3% year-on-year, followed by "Metropolitan Areas" with 12%; while the lowest declines were recorded by "Other Municipalities", defined as those not included in the other segments, which recorded a fall of 10.6%.

In terms of cumulative declines from the top of the market by segment, the "Mediterranean Coast" was down by a total of 37% in April; followed by "Capitals and Major Cities" with 32.8%, Metropolitan Areas" with 30.7%, "Balearic and Canary Islands" with 26.9% and lastly "Other Municipalities" with 24.2%

Video - Spanish bank chairman steps down

admin — Tue, 08 May 2012 09:32:00 GMT

The chairman of Spain's Bankia, Rodrigo Rato, announced his resignation on Monday. The Spanish government is on the verge of announcing a rescue plan for the troubled bank which will be part of a wider reform of the banking sector in Spain.

It is thought Bankia could need an injection of around 10 billion euros although this is unconfirmed. Its shares fell 3.3 percent on the news.

Bankia came into being as a result of the merging of several savings banks, or "cajas" as they are called in Spain.

They all suffered huge losses due to the collapse of the property sector.

Watch the full report on TheMoveChannel.tv:

http://www.themovechannel.tv/2012/05/spanish-bank-chairman-steps-down/

The bigger picture: Which home improvement adds the most value?

Ivan Radford — Fri, 04 May 2012 13:04:00 GMT

Over the May Bank Holiday weekend more than a third of Brits will be starting DIY projects around the home - but a new DIY survey has revealed most Brits don't know which home improvement adds the most value to a property.

A survey has found three quarters of Brits don't know which home improvement adds the most value to a property. 75 per cent of those surveyed by Topps Tiles failed to identify a loft conversion as the home improvement that adds most value, which adds on average £20,876 to the total value of a home.

Most of those surveyed thought fitting a new kitchen would add the most value, with 52 per cent of respondents placing it in their top three improvements. Adding an extension or conservatory was the second most popular answer at 38 per cent, followed by putting in a new bathroom at 33 per cent.

The data suggests that men are slightly more clued up on what adds value to a property than women. 29 per cent of men correctly identified a loft conversion as the home improvement that adds most value compared with only 19 per cent of women. Fewer women also thought building an extension would add the most value, with only 33 per cent of women placing it in their top three compared to 43 per cent of men.

The survey also reveals how many DIY enthusiasts are cutting corners when it comes to jobs needing to be done around the home. A third of men admitted to tackling plumbing jobs themselves rather than hiring a professional, and over half of respondents admitted to never reading an instruction manual or how-to guide.

Click here to see the full infographic

A spokesperson at Topps Tiles said:

"It's interesting that three quarters of those we surveyed had no idea that converting their loft would significantly increase the value of their home. Most respondents were under the impression that having a new kitchen fitted would add more value than adding an extension or converting a loft.

"As a general trend, women tended to think that improving the interior of their home would add the most value, whilst men tended to opt for home improvements that create more rooms and space.

"It's also a bit concerning that over half of respondents admitted to never reading an instruction manual or how-to guide - reading these may be a good starting point to ensure you don't have a DIY disaster this bank holiday weekend!"

Homeowners sell up fast to move abroad

admin — Fri, 04 May 2012 12:54:00 GMT

Photo credit: Antonio MC

Do you need to relocate, or have you decided to retire overseas? You are just one of many homeowners looking to sell your home and start a new life abroad.

Increasingly, property owners are looking for alternatives to selling their home through an estate agent. With a stagnating property market, many families are finding that they can sell up sooner and release the cash they need to move abroad with a professional property buyer.

It's amazing how quickly an exciting move can turn into a drain on your time, energy and bank balance. If you're wondering where you can sell your house fast for cash, it's either because you've had your house on the market for a while without success or because you need to move as soon as possible. Whatever your reason, a genuine cash buyer can often help you to sell your home sooner.

If you're moving, you're probably going to be buying a new home straightaway, or you've decided to rent - either in the long term or until you can find something you want to buy. You will need to have cash available in both cases so that you can move out of your own home and straight into something else. On the open market, cash buyers hold quite a lot of power, so if you can sell your house fast for a cash payment, you will be able to buy a home without already being in a property chain. This alone will help to reduce the amount of stress you could be under when you move.

How to sell your home for cash

Selling your home for cash is easy when you enlist the help of a professional property buyer. With a guaranteed cash payment, there is no need to hang around waiting for homes to sell on the market.

Call for a valuation - Cash house buyers can give you an accurate valuation that reflects your local property market in just 24 hours.
Decide to accept - A genuine cash buyer should not pressure you to go ahead, so take your time and consider all your options before you commit to the sale.
Set a timetable - A professional property buyer will work to your deadline. If you want to sell your house within a week, that's fine. If, however, you need a couple of months to sort other things out, they should be able to work to that timetable too
Leave the paperwork to the professionals - A cash house buyer should handle the preparation of all the paperwork. If you'd like your own solicitor to see the papers before you sign, inform the company so that they can forward a copy.
Move on - As soon as the sale completes, you'll get your guaranteed cash payment so that you can put in an offer for another home, put a deposit on a new build or find your first month's rent for a place abroad.

House Buyer Bureau are cash house buyers. They will buy your home from you and complete your sale in as little as 7 days. For a valuation within 24 hours call or go online.

Mortgage lending and approvals jump 58pc

Ivan Radford — Fri, 04 May 2012 12:52:00 GMT

Gross mortgage lending by building societies and other mutual lenders jumped by 58 per cent in March this year compared to 2011, the Building Societies Assocation revealed this week.

Lending also rose by 40 per cent in the first quarter of 2012 compared to the first quarter of 2011, while net lending by mutuals increased for the sixth consecutive month.

Mortgage approvals by mutuals were up 39% in March compared to March last year, and they were up 40% in the first quarter of the year compared to the first quarter of 2011.

Retail savings balances at mutuals fell by £266 million in March, compared to an increase of £273 million in the same month last year. After interest credited is removed there was a net withdrawal of £945 million in March.

Commenting, Adrian Coles, Director-General of the Building Societies Association, said:

"The additional lending in March can, in part, be attributed to the increased number of first time buyers who took action to get the benefit of the stamp duty concession before it ended on 24 March.

"In all around 6,500 mortgage loans were made to first time buyers by building societies and other mutuals in March, up from 3,100 in March last year. Of these about two thirds are estimated to have benefitted from the stamp duty exemption. Some purchase decisions are likely to have been brought forward as a result of the deadline so lending to first time buyers may dip slightly in coming months.

"More broadly, mortgage lending to those moving home or remortgaging was also up strongly. This reflects the attractive mortgages on offer from mutuals with them accounting for more than three-quarters of mortgage best-buys in the quarter. Approval figures demonstrate that there is a strong mortgage pipeline, which suggests that mutuals' mortgage lending will hold up well into the summer."

UK rental market bucks recession

Ivan Radford — Fri, 04 May 2012 12:41:00 GMT

The UK rental market is bucking the recession, according to Belvoir Lettings.

Following figures from the Office for National Statistics showing that the UK has entered a double-dip recession once more, Belvoir has declared that it still has not experience a single dip, with lettings activity staying strong.

But Belvoir CEO Dorian Gonsalves warns landlords to stay realistic about rising rates: "A double dip recession means that unemployment will continue to rise, which in turn may assist with the dampening of any rental increases seen in previous years," he says.

"As I predicted in December 2011 rents are likely to rise moderately, remaining more or less in line with inflation and salary increases. Rental fluctuation is likely to be very regional with some areas such as the South East likely to see a higher increase as rental prices force people out of London into the Home Counties. The current crisis is clearly making consumers nervous, affecting both the BTL and mortgage market.

"In recent weeks there have been reports claiming that housing sales have increased, but the double dip recession is likely to have a negative impact on this. However, this then produces a market that is ripe for opportunist investment landlords who are able to secure property purchases that represent real value for money. Belvoir offices are already reporting increased activity from BTL landlords and investors.

"Feedback from franchised offices across the network shows that tenants are now staying longer in properties and there are various reasons for this. Even modest rental increases, which were heavily published in the national press, tend to give tenants the impression that without very good reason it makes no financial sense to move to a larger or different type of property.

"Because of regional variations in rental yields it is vital for landlords to talk to specialists who understand the local market, as buying in the wrong area could be very costly."

Cyprus construction continues to collapse

Ivan Radford — Fri, 04 May 2012 12:35:00 GMT

Cyprus construction is continuing to collapse, with the number of building permits issued in February falling once again.

In total, 633 permits were issued, according to the Cyprus Statistical Service, a drop of 9.4 per cent from the 699 issued in February 2011.

The figures, considered by the Cyprus Statistical Service to be a leading indicator of future market activity, suggest an ongoing slump as the number of residential dwellings approved for construction fell by 33 per cent from 2011.

Source: Cyprus Property News

France is firm favourite for British buyers

Ivan Radford — Fri, 04 May 2012 12:09:00 GMT

France remains a firm favourite for British buyers, according to the Overseas Guides Company, which provides free guides to 15 countries.

The site's latest quarterly index saw interest from UK investors stay strongest in French property, as well as Spanish and American real estate.

"In recent years, a number of emerging overseas property destinations have been flooding the market, each claiming to be the next ‘big thing'. This has led the market to become somewhat crowded and perhaps rather confusing for investors," reads the report, revealing that the traditional destinations continue to dominate the global property market.

France attracted 22 per cent of all enquiries during the first three months of this year, more than any other country. Spain pulled in the second highest share with 16 per cent, followed by the USA with 15 per cent. Significantly, the next most popular, Australia, had just 9 per cent.

Activity also increased in the first three months of 2012, with enquiries for buying property abroad surging by 38 per cent compared to the last quarter of 2011. Encouragingly, the year-on-year growth was far greater - a staggering 128 per cent, from 2,843 in Q1 2011.

Editor Richard Way commented: "Discounted prices are not the only driver in France and Spain at the moment. The last month or two has seen Sterling creep up in value against the euro, partly due to the festering Eurozone debt crisis; so that the current exchange rate is the most favourable it's been for a year and a half for Brits exchanging pounds. We are also seeing close to a six month high in the value of the pound against the dollar which could be responsible in part for driving the US property market. Our sister company, Smart Currency Exchange, has as a result been able to secure some very favourable rates for buyers and vendors in each of these countries."