| Australian property 'still affordable'
October 28, 2009 at 8:00 pm
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| Australian property is still much more affordable than it was a year ago, despite a recent rise in the relative cost of buying a home, it has been stated.
The HIA-CBA First Home Buyer Affordability Report for the third quarter of 2009 said that the country's market became 3.3 per cent less affordable for first-time buyers in this period.
However, this still left the index showing a 35.7 per cent improvement on 12 months earlier.
Senior HIA economist Ben Philips observed: "Housing remains more affordable in 2009 than it was through most of the rest of the decade."
However, actions such as increasing the rate of building new homes would be needed to avoid this slipping further, he stated.
The figures predated the decision by the Reserve Bank of Australia to raise the cash rate from three per cent to 3.25 per cent.
Such a move will actually be beneficial for the country's property sector, suggested Brian White, the chairman of real estate firm Ray White.
He said this week it would help provide more stability in the sector. |
| Western Australia 'to see new boom'
October 28, 2009 at 8:00 pm
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| The economic prospects for Western Australia are looking up again, it has been claimed, something that could boost property prices there.
Speaking about the mood a year ago when the financial crisis was at its worst, professor of economic policy at Curtin University in Perth Peter Kenyon said there was much "doom and gloom", the Daily Telegraph reports.
He added: "Everybody was talking about it being worse than the Great Depression, but consumer confidence is back, business confidence is back and interstate and overseas migration continues."
Professor Kenyon highlighted mining as being a major source of growth in the state, with base metals rising in price again.
State capital Perth is now seeing house prices increasing for the first time in 18 months, the paper noted.
The Australian property market will benefit from the extra stability provide by this month's 0.25 per cent increase in the cash rate by the Reserve Bank of Australia, Brian White, the chairman of real estate firm Ray White, said recently. |
| Brazilian state's appeal highlighted
October 28, 2009 at 8:00 pm
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| The qualities of the Brazilian state of Rio Grande do Norte have been described by its economic development secretary.
Speaking at the Why Brazil? Why Now?: tourism event at the Brazilian embassy in London, Francisco Cipriano de Paulo Segundo said it had plenty to offer.
He remarked: "We have a lot of good wonderful beaches, 410 km of beach with warm water and we are very close to Europe. The Natal district is closer to Europe than all of Brazil."
Such features may help attract both European visitors and those keen on buying tourist-related property in Brazil.
The country as a whole has seen an increase in interest in property in recent weeks, after Rio de Janeiro was awarded host status for the 2016 Olympics, it has been noted.
Currency exchange firm Moneycorp said last week it was setting up a special exchange service to change sterling to reals in order to deal with the increased demand for such transactions. |
| Brazilian economy 'in good shape'
October 28, 2009 at 8:00 pm
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| The Brazilian economy is set to do well in the future as it has not suffered badly in the credit crunch, a government official has said.
Speaking at the Why Brazil; Why Now event in London, co-ordinator of inward investment at the Ministry of Tourism Laercio Souza noted that only 1.2 per cent of gross domestic product had been spent on a stimulus package.
He also noted that the middle class is growing rapidly and the levels of personal indebtedness are low, with banks being well resourced.
Such factors may influence those keen on buying overseas and looking for economies with strong emerging prospects.
Mr Souza said that popular locations for second home buyers in the domestic market include Santa Cantarina or Florianopolis, something overseas buyers may want to consider.
Those keen on investing in the tourist rental sector may be encouraged by news from the Brazilian Tourist Board that overseas visitor numbers increased by 0.5 per cent on a year-on-year basis in 2008, with the British contribution rising from 177,000 to 181,000. |
| Brazil 'set to boom'
October 28, 2009 at 8:00 pm
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| Brazil is set for a major property boom when international butyers return in large numbers, it has been predicted.
Executive chairman at construction firm Confide Brasil Javier Fernandez-Pena said recent years saw property developments taking place with the international buyer in mind, but these have diminished in number due to the world economic downturn.
However, he said, the growing domestic sector has stepped into the breach and is helping the market to keep growing.
Looking to the future, Mr Fernandez-Pena added: "International buyers will come back to Brazil as it is starting to be seen as fashionable or the location of the next real estate boom."
He suggested that 2016 Olympic host Rio de Janeiro will offer a "tremendous opportunity" to attract such buyers.
Mr Fernandez-Pena was one of a number of speakers at the Why Brazil? Why Now? event in London.
Among the others were co-ordinator for inward investment at the ministry of tourism Laercio Souza, who noted that thanks to the domestic market, towns such as Santa Cantarina and Florianopolis are already emerging as popular second-home destinations. |
| Cape Verde tipped for property boost
October 28, 2009 at 8:00 pm
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| Cape Verde's property sector could see a major boost from the tourist industry thanks to the launch of a new inter-island ferry service.
Until now the one way to get swiftly from one island to another in the archipelago has been by air and chief executive of real estate firm Norcasa Paul Akwei said the move could have a major impact.
He stated: "This is a huge opportunity for the prosperity of Cape Verde and for anyone with invested interests in the islands, such as property."
Mr Akwei said it would make travel cheaper and could open up the country more to the under-25s market, particularly as there are activities available like hiking, fishing and kite-surfing.
Cape Verde has already received one potential boost to its tourism earlier this year, when its first ever capital city was declared a UNESCO World Heritage site.
The title was given to Cidade Velha, which lies south of the current capital, Praia. |
| Eurostar 'makes south-west France more accessible'
October 28, 2009 at 8:00 pm
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| Many parts of France are now much more accessible and therefore attractive to Britons because of the Eurostar, it has been stated.
A Times feature on the issue found that Britons are increasingly keen to live in certain parts of France, Germany and the Low Countries that have easy connections with the cross-channel service, so that they can get back to Britain quickly at any time.
This includes areas served by other high-speed rail, such as the south-west of France, according to sales manager for international property firm Assetz Martin Sadler.
He remarked: "Eurostar's connection to the TGV has opened up areas of the south-west of France, which previously had been hard to get to."
Being close to such connections can add a premium to the price of up to 15 per cent, noted head of Savills International Charles Weston Baker.
Earlier this month, director of expat portal Shelter Offshore Rhiannon Davies said the "fantastic lifestyle and an affordable cost of living" draws many Britons to rural parts of the country. |
| Malaysia tipped for recovery
October 28, 2009 at 8:00 pm
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| Malaysia has been predicted to see further property market recovery soon, it has been noted.
Property Abroad reported that housing and local government minister Datuk Seri Kong Cho Ha has expressed optimism about the near future as the economy improves.
Speaking at the recent National Property and Housing Summit 2009, he said: "Prices of houses are expected to see further upside, driven by huge liquidity in the economy as well as further rebound in residential rent."
Mr Ha also said the overall economic revival around the world would benefit the country's property market.
The portal stated that Malaysia could offer a number of advantages for UK residents, with legal documents written in English and no inheritance tax.
Earlier this month, chairman of Regroup Associates Christopher Boyd wrote in the Kuala Lumpur-based Star Online that the country has good long-term prospects.
He said this is the case as Malaysia has a low population and rich resources, a combination making it attractive to immigrants from heavily-populated neighbouring countries. |
| Morocco 'seeing property rise again'
October 28, 2009 at 8:00 pm
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| Morocco's property sector has bounced back from the dip it saw after 2007 and is offering good reasons to invest again, it has been stated.
In an article on the country, Buy Association said that capital gains of up to 35 per cent are possible.
The portal noted that the government of the country has been taking action to help boost the economy and property sector, including providing financial incentives for Moroccan expats to buy houses in their homeland.
Another measure is one of major slum clearance projects.
The wider economy is being aided by investment in tourism infrastructure and high-speed rail, something that could interest those looking to invest in tourist property.
Earlier this month, Global Arab Network said that many overseas buyers like to purchase a riad in a town like Marrakech, Essaouria and refurbish it.
It suggested a cheaper alternative might be to invest in a new apartment in Tangier. |
| Lanzarote 'seeing market hold up'
October 28, 2009 at 8:00 pm
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| Lanzarote's property market is faring better than most of Spain, it has been noted.
In a feature on the prospects of living on the island, the Daily Telegraph revealed that according to official statistics, prices have only dipped by four per cent in the past year.
This compares with 12 per cent across Spain as a whole.
As well as being more stable price-wise, the island could also be more appealing, as its architectural blueprint adopted when mass tourism arrived in the 1960s involved no tall buildings and painting all new structures white.
Another factor that could bolster the island is that budget airlines such as Ryanair, Monarch and Jet2 are increasing their flights to Lanzarote while cutting back elsewhere, the paper noted.
Last week, Martin Dell of Kyero.com said that Spanish property now offers some good investments as there is a real prospect that the bottom of the market is close. |
| New flights launched to Canaries
October 28, 2009 at 8:00 pm
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| The Canary Islands could be in line for a property market boost as low-cost airlines announce new flights from the UK.
Budget carrier easyJet has revealed that three new services will fly to the archipelago from early next month, with both the north and south of England gaining extra flights.
A Liverpool to Fuerteventura service will begin on November 2nd and flights to Lanzarote will start from the same location the next day.
On November 4th, a new service will commence to Fuerteventura from London Stansted.
Such routes are among 22 new winter schedule services revealed by the airline, which may suggest that locations in places like the Spanish islands are likely to see more tourism and property trading as economic conditions improve.
The boost from easyJet follows the launch last week of new flights from Monarch.
It is now running an extra two flights a week to Gran Canaria from Birmingham, London Gatwick and Manchester, as well as routes to Fuerteventura from Birmingham, London Gatwick, London Luton and Manchester. |
| Turkey and Egypt 'to stay popular'
October 28, 2009 at 8:00 pm
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| Turkey and Egypt are set to remain as popular tourism destinations in 2010, according to American Express.
Figures from the firm's Global Foreign Exchange Services Currency Index showed that the two countries became increasingly popular this year as summer holiday destinations, with more favourable exchange rates with sterling than the euro.
This saw a 60 per cent year-on-year rise in demand for Egyptian pounds and a 26 per cent increase for Turkish lira.
Such a trend is likely to continue next year, the firm predicts, which could make these countries a good place for those investing in tourist property to buy.
One Turkish resort recently tipped to fare particularly well in 2010 is Altinkum.
Earlier this month, Didim Today reported that a new golf course is planned for the area, in addition to the marina currently being built.
Editor of the Buying in Turkey guide Dominic Whiting told the paper: "It will certainly broaden the area's appeal and have a positive effect on the property market." | | | 
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