Spain still appeals to overseas investors

Many overseas investors still find Spain an appealing destination for buying property, according to an expert.

 People were continuing to enter the Spanish market at a high rate, both for investment properties and holiday homes or flats for personal use.

This is despite recent fluctuations in the country’s housing market and the current house price boom.

Mr Johnston added that prices were likely to continue growing if an expected five million European move to Spain in the next five years.

This would have the impact of boosting demand and prices in many parts of the country, as well as the value of existing investment properties.

According to official figures, net migration to Spain stood at 15.0 migrants per 1,000 of the population in 2005 – above the EU average of 3.7 per 1,000.

Cheerio!

What a difference a year makes in real estate

A well-maintained Victorian in Albert Park should be a million-dollar property – or at least it would have had a shot at hitting that mark if the auction had been held last year.

Instead, this two-bedroom house at 23 Dundas Place attracted just one genuine bid yesterday, delivered as an opening offer at $700,000 that was well below the quoted price of $930,000 plus. Two vendor bids bumped the price up to that level but with no further interest, the property was quickly passed in. The reserve was $955,000.

“We thought we had a couple of genuine buyers before the day, but they just held back,” said Cayzer agent Michael Szulc. “It’s a strategy that’s being employed a lot this year, with buyers hoping the auction won’t be successful and they can swoop in.

“But that doesn’t mean there’s going to be some massive difference (in the sale price), as they’re still going to have to negotiate and pay what the vendor wants for this kind of property.”

Negotiations are continuing with one party. The Real Estate Institute of Victoria reported that the median flats price in Albert Park was $1,065,000 in March, down 0.9% on last December.

Take care my friends!!!

Flatiron who loves flats

Brisbane’s most expensive units

Units and townhouses in most locations across Brisbane experienced strong growth over the year, but Milton’s median sale price rose by a whopping 90 per cent to $695,000. The increase, from $365,000 a year earlier, gives Milton the highest median unit price of any suburb in Brisbane.

In comparison, New Farm’s median increased to $445,000 while Hamilton’s median rose to $430,000.

The Real Estate Institute of Queensland said Milton’s meteoric rise was affected by the number of new properties and properties with water views sold over the course of the year.

However the area had also undergone significant transformation in recent years and been in high demand due to its central location, Colliers International residential research manager Jonathan Rivera said.

A scarcity of potential development sites in the inner-city area had seen Milton placed “in the firing line” of developers because of its location, he said.

As a result, industrial and commercial lots in the suburb could soon be replaced with new flats projects, he said.

Units in Milton represent almost 39 per cent of all dwellings, with a higher proportion of older properties built between the 1960s and 1990s.

Milton, don´t give up!

Adidas? Big in India

Expansion plans of footwear and apparel major Adidas India has been hit by high real estate prices ruling in the country, a company official said.

Adidas India Marketing Private Ltd’s Managing director Andreas Gellner told reporters, “Rise in flats and houses has been affecting our growth plans in India”.

The company’s was planning to increase the number of stores from 325 at present to 450 by the end of 2008. It operates the stores through franchisee route.

Talking about real estate prices, he said that the prevailing rentals were not realistic. Typically, the rentals should be around 15-17 per cent of turnover per square feet.

However, the rentals at the moment were more than 20 per cent per square feet. In some cases it was around 40 per cent per square feet, he said.

Gellner said Adidas was not keen to spend that high an amount since the brand was not new to India. “We are in India for the last 13 years.”

Calcuta stays Hot Amidst cooling Realty prices

The real-estate market in Calcuta has been largely unaffected by the soaring inflation and the US economic crisis, developers and experts say. While the sales and price figures in other metros and cities have shown signs of cooling down, the prices in Kolkata have increased by 7-10 per cent over the last four months.

In their opinion, the city has managed to avoid a crisis because prices here had never reached ‘unrealistic’ proportions. Kolkata’s real-estate market is also relatively stabilisedsince the number of speculative investors here is much less compared with end-users.

The proportion of end-users vis-À-vis investors is 70:30. Prices in some other cities had to undergo a correction because they were inherently over-priced. Prices in Kolkata never appreciated so much and have always been realistic in nature.

In the whole world the properties as flats or houses are overpriced…

Cheers

Foreign Money in India

Some things make the Reserve Bank of India (RBI) paranoid. The invasion of foreign money in the Indian property market as flats has always been a familiar theme that rang alarm bells on Mint Street — the central bank’s headquarters.

Whenever it sensed an alarm, the regulator moved in to clamp down on such money flows. Even foreign venture capital funds opening shops here are asked by RBI to give an undertaking that the money they raise will not go into real estate.

In the past two years, the regulator had persuaded New Delhi to tighten investment rules that would make it difficult for foreign money to chase Indian properties. Not that it has helped significantly, with smart money managers operating from offshore tax havens finding new ways to side-step the curbs.

Who is the best football team in Europe? SPAIN

SPAIN

The best country in the whole world has won the Eurocup.

This fact is very important for us, becouse we have won everything excepting football tournaments.

We are very proud of you Spain. Keep it going!