11/5 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 Australian economy 'improving faster than expected' November 2, 2009 at 7:00 pm An Australian government minister has said the country's economy is improving faster than predicted at the time of the last budget, something that may help boost the country's property market. Treasury minister Wayne Swan said the figures in the Mid-Year Economic and Fiscal Outlook showed that the prospects for economic growth, employment levels and public debt have all got better. Such an outlook "underscores Australia's position as the strongest performing advanced economy in the world", he said. This will see economic growth of 1.5 per cent in this financial year and 2.5 per cent expansion in 2010-11, Mr Swan predicted. People thinking of investing in property in Australia may be encouraged by the way the country has come through the downturn and is facing the future with optimism. Last week, figures from Australian Property Monitors revealed that in the three months to September, the average house price in a state or territory capital city rose by 3.7 per cent, while units were up by 3.4 per cent. Italian property 'still stable' November 2, 2009 at 7:00 pm Italy's property market is a stable one that is not prone to large increases or drops in value, it has been stated. A Times feature on the country quoted head of Knight Frank's Italian desk Rupert Fawcett as saying: "Historically, property prices in Italy have always held. Italy's second-home market has been largely unaffected by the recession." While there has been a fall in prices, this trend is now in reverse in the same way British prices are currently increasing, he noted. Mr Fawcett said popular places for second homes in the country include locations like Lake Como, Venice and Capri. In September, the paper reported that despite the lack of a major plunge in values, there are still some bargains to be found. It noted examples of where a relative lack of buyers meant Britons who needed to sell have been finding it necessary to lower their asking prices. Mortgages for Spain are still available November 2, 2009 at 7:00 pm It is still possible to get a mortgage to buy a property in Spain, an expat portal has noted. Shelter Offshore said that Natwest and Abbey are two UK lenders offering such products. However, it noted that the Natwest deal has a loan-to-value of only 55 per cent, while Abbey - owned by Spanish banking group Santander - does not disclose terms and conditions before an application. Despite this, the website suggested, those who can get such finance will find it a rewarding thing to do. It stated: "The hard work to get a mortgage in place will be well worth it when it pays up and pays off and you have your dream home." House prices in Spain have now hit the bottom of the market, a spokesperson for property firm Prieto told Reuters recently. However, the company is forecasting that values will now stay flat until 2011, meaning those who do buy in Spain may find a long-term investment is the most suitable way to enter the market.   This email was sent to cardmaster21@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.