10/21 Global Real Estate & Investment News from Propertyshowrooms.com

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. Global Real Estate & Investment News from Propertyshowrooms.com Spanish property market 'showing signs of stabilising' October 18, 2009 at 8:00 pm The Spanish property market may be showing hints of stabilising, it has been suggested. Data from the Spanish Housing Ministry for September revealed that the annual fall in house prices was 7.8 per cent in the month, compared with a record 8.2 per cent in the year to August. Consultant for financial analysts AFI Felix Lores told Reuters the statistics were unexpected. He said: "This annual drop was a surprise as we were expecting prices to begin falling by double-digits before the adjustment had ended." Such figures follow recent data from Tinsa recording an 8.3 per cent drop in the year to September, which were also a reduction in the rate of decline, Kyero.com noted. The portal said this may be a sign of growing stability, but also suggested it could be a hiatus before a fresh fall in prices. Should the market be stabilising, this may offer investors good reasons to buy with better times ahead, while further decline may create an increased supply of bargains. UAE in property bargains prediction October 18, 2009 at 8:00 pm The price of property in Dubai is expected to fall by 20 per cent as the market is oversupplied, an expert has claimed. JP Grobbelaar, director of research and advisory at Colliers International, was reported in Business Intelligence Middle East stating that the drop in property value was "not unrealistic". He added that there is a 25 per cent oversupply in the property market. Prices have already fallen by 48 per cent in the last year and one in four properties are unoccupied. "Unless there is significant growth in population over the coming two years, we expect the oversupply to remain in the foreseeable future," Mr Grobbelaar remarked. According to the real estate broker Chesterton, property investors have been taking advantage of the falling prices to make investments. Brendan Coakley, managing director at the broker's Middle East division, said international and domestic buyers had been making long-term investment decisions and purchasing while the property was at the bottom of the market. Foreclosures 'show fresh increase' October 18, 2009 at 8:00 pm The number of foreclosures in the US rose in the third quarter of this year, figures from housing research body RelatyTrac have revealed. Up five per cent on the previous three-month period, the total of homes repossessed was 937,840, with one in every 136 homes receiving at least one filing. However, September's tally of 343,638 was four per cent down on the August total. RealtyTrac identified the states with the highest rates of foreclosures as Nevada, Arizona and California. Those seeking to pick up bargains when such homes are sold on cheaply by banks may find they have a plentiful supply to choose from. Foreclosures will continue to become more frequent in the months ahead, despite the US economy coming out of recession, it has been predicted. Increases in unemployment - which economists note is a lagging indicator of economic health - will lead to more homes being lost, Celia Chen of Moody's Economy.com told Reuters recently.   This email was sent to cardmaster21@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.