According to the Organisation for Economic Co-operation and Development the Cape Verde economy grew by 6.7% in 2007 and predictions have it growing by over 8% for 2008. With major infrastructure developments under way and regulatory initiatives such as the Cape Verde Initiative (CVI), Cape Verde should continue to see strong growth in its property sector as well as overall economy.
A forumer wrote this:"trouble with spore property market is too many ppl are here to make money, rather than spend money ... but someone has to want those properties at that kind of prices for self-consumption .. otherwise, the speculative element is too great to support the market when sentiment dives... "Minister Mah Bow Tan has also pointed out that the private property market is made of "specu
It seems the buzz is back in the private property market and buyers are seeing lower price tags too.Healthy weekend home sales as attractive pricing draws buyers (Business Times - 24 Jun 2008)Price levels set below those at nearby units launched recently or not yet completed... ‘Buyers will bite if you price your developments below recently launched or yet-to-be completed projects nearby and abo
Excerpts from article about what's happening in the US, but which we also have similarities...Quote:money.cnn.com/2008/06/09/real_estate/worst_hit_markets_will_get_worse/index.htm?postversion=2008061215 But it may pay for buyers to wait. Many housing experts say that the worst-hit metro areas have even farther to fall, and could see total drops of as much as 50%. "The housing boom was unprecedente
The jobs creation as given in this post:Subprime Impact on Singapore Economy by May 2008shows more than just more employments for Singaporeans and foreigners.The large proportion of the employment continues to be created in the Services and Construction industries, which do not in general bring a lot of wealth to Singaporeans.Interpreting this employment growth pattern in the light of more retrenc
Property correction will kill only Speculators and Developers. For all other people, it's good news. Home buyers can have affordable homes. Investors can have more reasonable returns on their property investments. Even home owners should cheer because they can watch their property appreciate steadily at a more sustainable rate, and not worry that their property price will plunge when a property bu
Singapore HDB upgraders hold key to property market turnaround
Squeezed out of private home market for some years, they see their share rise again
By KALPANA RASHIWALA
(SINGAPORE) HDB upgraders could once again provide the base for a recovery in private home buying, just like they did in 1998, property consultancy group DTZ argues, based on its latest [...]
Singapore Developers turn landlords as property market stays quiet
With projects held back, firms lease out units bought in collective sales
By Joyce Teo, Property Correspondent
STAYING ON: The consortium that bought Lincoln Lodge has allowed occupants to keep renting homes for six months from the sale completion date of July 8. — PHOTO: NEWMAN & GOH
PROPERTY developers [...]
What is it about Bulgaria that has attracted thousands of property investors to commit to the country?Why does the Bulgarian real estate sector appeal so greatly to so many people?And what is causing the continuous flow of new investment into the country?These are all questions that those external to the unstoppable Bulgarian real estate market need answering!Well, the reasons for the popularity o
After racing into the real estate market late last year, investors are now racing out due a sharp decline in capital in the second quarter. Out of low, medium and high-end market segments, it’s the high-end ones with the biggest drop offs. Several luxury apartments that once went for lofty prices at the beginning of the year are now going for almost half the market price.
Vu Quoc Thai, marketin
Dear Smart Buyers, in case you think "waiting" for the market downturn means going into a sleep mode, this is actually the most critical period for doing your homework. When the market crashes, developers may start to make all sorts of offers and banks may put properties for auctions. You'd then need to act decisively, often on the spot. A wrong move can really be costly.Now that I've some time in
Property market sentiment softensSupply of homes, vacancy rates up, but buyers discouraged by high pricesWeekend • April 26, 2008Esther Fungesther@mediacorp.com.sgTHE lacklustre property market seen in the first quarter of this year is likely to persist, with developers expected to launch more projects in the months ahead, increasing the supply of new homes even as buyers stay away.The prices of homes in both the private and public sectors rose at a much slower pace in the first quarter while the volume of transactions remained thin. Private home prices rose 3.7 per cent in the first quarter, according to the Urban Redevelopment Authority (URA), lower than its earlier estimate of 4.2 per cent and well below the 6.8-per-cent rise in the previous quarter.Developers sold 762 private residen
PROPERTY MARKET CRASHES, BUT HE MAKES $5b HE saw the mortgage crash coming. And he bet big on it. 21 April 2008 HE saw the mortgage crash coming. And he bet big on it.So where others struggled because of the credit crisis, Mr John Paulson, a previously obscure fund manager from New York, took home a startling US$3.7billion ($5b) last year.It is the single biggest pay-day in Wall Street's history, more than twice anything previously achieved even in the bloated hedge fund industry, reported The Independent on Thursday.The industry's journal, Alpha Magazine, called his performance 'the greatest hedge fund trade of all time'.So, what's a man to do with his new-found $5b windfall (let's see all those zeros for fun: $5,000,000,000)?Well, move on up to the Hampton's, the upstate playground for N
Business Times - 17 Apr 2008 Property market seen growing on a strong Sing dollar Fast income growth, falling interest rates will keep the sector buoyant, says report HERE'S some good news for those feeling down after recent bearish reports on the local property market.Canadian-based BCA Research this week issued a Buy Singapore Property Stocks report, arguing that a strong Singapore dollar will depress interest rates, which will continue to fuel the property market.It also pointed to strong income growth and other fundamentals - for instance, the transformation of Singapore's economy and favourable supply-demand dynamics - which it says will continue to underpin the Singapore real estate bull market.'While real estate prices in Singapore have been rising for a while, the pace of appreciat
Property market seen growing on a strong Sing dollar
Fast income growth, falling interest rates will keep the sector buoyant, says report
HERE’S some good news for those feeling down after recent bearish reports on the local property market.
Canadian-based BCA Research this week issued a Buy Singapore Property Stocks report, arguing that a strong Singapore dollar will [...]
April 9, 2008 Fewer home loans taken up as property market cools further Mortgage default rate also falls but some banks see refinancing deals rise By Grace Ng THE number of home loans taken up has fallen sharply in recent months as the property market continues to contract. Only 4,200 new home loans were approved in January, up about 13 per cent on the 3,722 in December but down 21 per cent from the peak of 5,319 last August. The Credit Bureau of Singapore figures also show that 2,544 second mortgages were taken up in January, a 31 per cent drop from the high of 3,698, also last August. 'We expect the growth in new mortgages to slow further this year,' said Credit Bureau general manager Mark Rowley. Inquiries for new home loans have also dropped, down to 8,923 in February, the lowest sin
Spain's once-booming property market is in freefall, official statistics have revealed for the first time.The announcement that house sales had plunged has dashed government hopes for a "soft landing" in the sector that has driven the Spanish economy for more than a decade.The buying and selling of homes fell by 27 per cent in January compared with the same period last year, Spain's National Statistical Institute (INE) announced yesterday. The collapse coincided with a 25 per cent fall in the granting of mortgages, the biggest drop since 2004. The size of individual mortgages has also fallen, by nearly 4 per cent, as providers fear for the security of their loans.
With the lack of investment in the UK market and the decrease in the number of home loans people are looking to buy else where. With the foreign markets looking like a more attractive proposition the main locations where people are buying includes France and Spain. They are being bought for either a second property or as an investment for the future, and the number of enquiries into foreign mortgages has risen considerably. It has been reported that the difference in the profile of the buyers has been significant, rather than the more traditional investor there has been an overall increase in the number of people who are actually looking to buy a property and more away.With the increase in the number of service offerings from the foreign mortgage providers this has become a much more viabl
Residential property SINGAPORE Our view We retain our Bearish stance on Singapore’s residential sector, with the market moving swiftly from a state of denial to acknowledging the realities on the ground. We see asset prices being driven down further by the marginal speculative sellers, amid low transaction volumes and rising unsold pre-sale inventories. Anchor themes Residential rents are likely to remain firm in the short term, given the low vacancy, though rising new supply is likely to cap rental gains from 2H08F — we forecast vacancy will rise from 5.7% at end-2007F to 8.2% at end-2010F. Luxury residential prices have risen too fast relative to rental expectations. We see the marginal speculative seller in the pre-sale market as the catalyst for asset price declines in the luxury s
The average price of a home in the UK has risen by nearly 400% of the last 20 years. Back in 1987, the average price of a home was under 50,000; twenty years later in 2007, the average price has pushed just over 200,000.
That can be a frightening prospect for any potential buyer, but [...]
The regions property market is facing the risk of being overstretched, said an industry official during a recent conference held at Dubai.
The real estate transactions in Dubai were worth $18billion in 2006, and as per current estimates a staggering $158billion is invested in the property sector of Dubai.
A survey, conducted by 'The Financial Times' reported that Dubai is 'at the cutting edge'
The year of 2007 has been an unprecedented year for the industrial property market. The rentals and occupancy rates for all kinds of industrial space indicate the extreme demand which was present. A number of business park sites were sanctioned, a fourth industrial REIT began functioning and 10 industrial sites were allotted in 2007.
There was [...]
Le Bao Chau, deputy chairman of the HCM City Real Estate Business Association, said since mid-February property prices have shed 10 per cent, and are expected to drop further.Banks tightening property loans and a diving stock market have been cited as the two main drivers of the dip in the real-estate sector.Chau said, small-time speculators will suffer the most from the price decreases. They are generally short-term investors, that snapped up property when the sector was doing well, and are now selling out to repay debts.
Moscow real estate beat Paris for the title of Europe's top market in terms of investment appeal and growth potential, according to a survey presented at the 19th edition of the MIPIM international real estate projects exhibition that opened in Cannes on March 11, investor.bg reported.Rental market’s robust growth and rising supply of residential and retail space have turned the Russian capital into a tempting place for investment, offering a rich gamut of development opportunities, according to a study on the trends in European real estate, conducted by consultancy companies Urban Land Institute (ULI) and PricewaterhouseCoopers.Last year’s winner, Paris, dropped to fifth with regard to attracting investment perspectives and sixth with respect to development potential. London, which ra
Since the liberation of the Baltic states, since the countries of the Baltic (including Latvia) regained their independence, there has been nothing short of a remarkable building boom in every major urban center in the region. In addition, there is far more activity by foreign nationals in the Latvian real estate market.Historically, foreigners paid premium prices -- due to additional taxes and other charges and assessments -- when it came to purchasing real estate in Latvia. However, beginning the mid-1990s, the Latvian government took what amounted to rather drastic steps to eliminate the monetary penalties that accrued to foreign investors who were interested in purchasing real estate in that country. In today's Latvia, a foreign national essentially stands in the same shows as a Latvia
Property prices in both Ho Chi Minh City and Hanoi surged in the fourth quarter last year.The real estate market boil was then kicked up a notch when the central bank ordered local lenders to limit their loans against securities to fewer than 3 percent and doubled the reserve requirement rate.The move cut the stock market down to size as the benchmark VN-Index soon fell from 1,170 points on March 12, 2007 to 927 by the year’s end.
Singapore - South-East Asian property markets are expected to sustain the buoyant growth seen in 2007, DTZ Debenham Tie Leung said on Friday. Residential markets in the region are forecast to be driven "by steady economic expansion, increasing affluence and increasingly attractive projects as developers strive to refine concepts," the DTZ report said.
Demand for properties in Vietnam has been bolstered by recent relaxation in rules for housing ownership, allowing foreign land ownership terms to increase from 50 to 70 years, DTZ said.
The residential market in Thailand is expected to recover as the political situation improves and developers are encouraged to launch projects which have been withheld.
The market is good for high-end condominiums in Kuala Lumpur, bolstered by the re
2003Outbreak of SARS & Gulf War - The gloomiest year in the history of the Singapore property market.2003 (Feb) Budget 2003 - e.g. Defer restoration of CPF employer contribution rate for 2 years; lower CPF salary ceiling over 2 years;new property tax rebate for commercial and industrial properties for 2H03.2003 (Apr) $230 million on SARS Relief Package e.g. Additional property tax rebates for commercial properties; higher property tax& 100% rebate of TV licence fees rebates for gazetted tourist hotels; cess rebate2003 (Apr) Single Purpose Company Requirement for GLS sites lifted2003 (July) Formation of HDB Corp and announcement on the public housing building programme. Programme would be opened upto the private sector – starting with 10% in July 2006 and reaching 50% in July 2008
Graph shows the Property Price Index from 1960 (Click on the image to view details.)1997The Asian financial crisis. Property price plunged.Reversal of Anti-speculation policy implemented in 1996:Removal of $30,000 capHDB owners allowed to book a new private property only after occupying the flat for 5years.Government sale sites deferred and project completion period (PCP) extended for up to 8 yearsl.Stamp duty for sellers was suspended.Join the Smart Buyers Forum1998 More Property policy reversal:Land sales were suspended; 15% property tax rebate for commercial and industrial properties commencing July 1998; Property tax exemption for land under development reinstated; exemption will be for a period of up to 5 years,and will apply from the time construction begins to the time the TOP is gr
A positive employment outlook is always a nice booster for both the South African property market and job prospects in S.A. Although an increase in employment does not necessarily mean a rise in property prices, it generally means an increase in the number of sales.
According to the Manpower employment outlook survey South African is amongst the country with the strongest first quarter hiring
Italy will notably be represented by Pirelli and Risanamento, the two heavyweights of Italian real estate development, and by the cities of Milan, Torino, Venice and Florence. Bologna will also be present and exhibit an ambitious urban regeneration project, focusing on the renovation of a former Ministry of Defence site with a total surface area of 835,000 m².
So with tonight being the last night of 2008 it's time for the SA Property Market 2008 prediction :)... Sounds like fun, lets see how accurate we are. For those of you sitting at home waiting for some new BLOG posts, lets hope this keeps you somewhat, entertained.
Roundup of 2007
There's been some major changes and impacts in the South African Property market over the last 12 months. We've seen
Singapore’s hot property market has become the latest noteworthy conversation topic and it is not just the private property market that sees massive rises in Singapore’s house prices over the past year, even the local HDB residential market has seen record transaction prices. It was only a month ago we read in the news that two Marine Parade 5-room flats were sold for record prices of $750,888 and $730,000, and a 3-room HDB flat was sold for $380,000. Crazy isn’t it? For $380,000, you could easily afford a resale HDB executive maisonette in areas like Bukit Batok. Although the resale price index stated on the HDB’s website seems to show a continual healthy increase over the previous quarter in 2007, it would be interesting to note that the number of resale applications registered seems to have started to decrease across the board for all flat types in the 3rd quarter of 2007. While I do not deny this could be a normal fluctuation, it would be a sign for concern should it co
By: William The ever growing demand for prime property has also engulfed the emirates and in the last few years, prime locations in the emirates like Dubai have seen a real estate boom. Considering that Dubai was a highly competitive but low priced market, this real estate boom is the last thing that the government wants. A lot of experts feel that Dubai is heading pretty much the same way where some of the Asian markets have headed in the past, towards overpricing. The reason for this is pretty simple. There is not enough supply to meet the demand in Dubai. Post 2002In May 2002 the crown Prince of Dubai, Sheikh Mohammed bin Rashid Al Maktoom made a stunning announcement which shook the foundations of the real estate market in Dubai. This allowed foreigners to buy freehold property in Dubai. What this did was that it opened new avenues and the market immediately boomed. The tax benefits, business advantages, the continuous rising demand and the lack of supply have also contributed to t
A study of major events that impact the Singapore property market will better help one to predict the market trends, e.g. like which part of history is likely repeat itself etc.1960 HDB formed and 12,000 flats built between 1960-70; Property Tax introduced 1968 CPF implements Public Housing Schemes for home ownership (which sees 90% of Singaporeans owning their homes today). 1972 Inflow of foreign funds and the beginning of Singapore's golden years. 1973 Property curbs introduced: foreigners not allowed to buy residential properties; property tax surcharge w.e.f. 1974 1974 Oil Crisis which afflicted the US economy of which Singapore was very dependant on. The year saw a plunge in Singapore property price and Singaporeans learned how their home price has every thing to do with
Anyone with a property for sale will tell you: houses are taking much longer to sell. There is a lot of choice but prices are still way above the limits of most budgets and buyers are taking months to make their minds up. For numerous real estate firms the situation has ended up getting the better of them and agencies all over the province of Malaga are closing down. If fact now, two years after the end of the boom, there are 40 per cent fewer real estate agencies open in the province.There are plenty of factors causing the industry problems, the main one being the saturation of the market.
Many people considering purchasing property in Thailand remain cautious, despite the fact that the risk to investment is "not large", according to one expert. Commenting on the Thai market, Marsha Lu, head of the legal, diligence and compliance department at Property Frontiers, said that media reports on the recent military coup has prompted some investors to be wary of buying property there.
A report earlier this year highlighted Paris' position as top city for property investment. The Emerging Trends in Real Estate® report by PricewaterhouseCoopers and the Urban Land Institute underlines the city's economic stability and sustainability, as well as placing Paris in first place for supply and demand balance. Unlike the UK, this balance means there's a good chance buyers will find the sort of property they're looking for, and sellers will typically not have long to wait when selling up. What's more, the plans of the new President, Nicolas Sarkozy, to provide tax breaks to encourage home ownership will surely have a positive impact on rent return and capital growth over the next few years.
LONDON (Reuters) - Invista Real Estate Investment Management said it expected to cash in on a slowdown in the UK property market as falling returns would distinguish skilled managers from lesser rivals. Speaking to Reuters as the company (INRE.L: Quote, Profile , Research) posted half-year figures on Tuesday, Chief Executive Duncan Owen said he was confident Invista would outperform in a market delivering average returns of between 8 and 9 percent because the double-digit annual returns seen in 2005 and 2006 made it harder for investors to select the best managers.
Confidence in the Spanish market could be increased due to a new law, according to reports. It is hoped that the new law will help to manage the land more easily and help out in terms of sprawl and sustainability, reports Homes Worldwide.
"The Phuket property market has exploded over the past five years. Previously, sales were mostly to expatriates working in Hong Kong or Singapore. Now over 70% of sales are to European customers, particularly those from England, Germany, Italy and Scandanavia" Mr Piya said.
The Spanish property market has reached a crossroads after its decade-long boom. The signals coming from the market are mixed, and the question as to what will happen next has been a popular topic in the Spanish and international press during June.First of all, some myths to dismiss. The market has not crashed, and articles in the British press in April and May announcing the end of the Spanish property market were premature, to say the least. Far from hitting a wall, the Spanish economy notched up 4% growth in the first quarter, and the Madrid stock market hit new highs in June.
The housing market in the southern Australian state of Victoria is very hot and Melbourne is leading the way. According to several recent articles in the Melbourne Herald Sun newspaper (www.news.com.au/heraldsun ), home prices are set to rise by 150% or more over the next 10 years
ok...finish reading the article on my previous post? Now read this one :) and see what conclusion you derive for yourself....=====================================By Dennis NgRecent plunge in China stock market and Dow didn’t trigger any effect on Asian Stock Markets, in my opinion, this is a sign of market going crazy. Even recent plunge in China market, DOW and other global markets also didn't react as well.This is a global bull run driven by liquidity......however, when things turn around, it will be a BIG, BIG Crash becos much of the liquidity is attributed to Leverage by Hedge Funds, Private Equity, Yen Carry Trade etc, etc.... when liquidity tide turns and risk premium increases.....the crash would be like an avalanche....The Crash would occur in both Global Stock Markets and Global Property Markets....remember the global stock market crash in year 2000 to 2002 was buffered by rise of global property markets.....so if BOTH Stock and Property markets crash, it will not be a pr
The latest House Price Index released by the Department of Communities and Local Government (CLG) confirm that the UK Property market remains healthy, despite the most recent interest rate rises. According to the report, the mix-adjusted UK house price rose from £206,890 in March 2007 to £209,454 in April, not accounting for seasonal adjustments.
Al Fajer Properties is likely to invest a billion dollars or Dh.3.67 billion in the Indian Property sector.The Chief Executive of Al Fajer, Shahram Abdullah Zadeh, mentioned that the company is convinced with various opportunities present in healthy cross-border investments as far as the two countries are concerned. The company wishes to develop projects in India through a joint venture and by facilitating small investors in India to buy properties in Dubai, which would yield them good returns.The company, while making its entry into the Indian property market, aims to develop three main kinds of projects – townships, commercial and gated residential community.Zadeh mentioned that the company has been carrying on talks with two major real estate developers and are targeting the locations Chandigarh, Hyderabad, Mumbai, Gurgaon and Gujarat in India.
Abu Dhabi, with its excellent infrastructure and natural waterfront, is very much considered the city of the future. The booming property market in Abu Dhabi is on the brink of touching Dh.3billion, while property sales is likely to fetch Dh.9 billion during the next decade.Three main mortgage players and seven banks are catering to the property market of Abu Dhabi today, to meet the increasing demand of the commercial developments, as well as the home finance of the market.Tamweel, the real estate major had opened its office at Abu Dhabi during 2006 and is ready to enter into partnerships with other major developers to encourage growth of property sector in Abu Dhabi.The Cityscape Abu Dhabi 2007, the three day property finance and investment exhibition is one among the major business-to-business real estate events in the world, with 200 odd exhibitors in the event.The Dubai-based developer, Sama-Dubai, who is a member of Dubai Holding, in the meanwhile, launched a scale model worth Dh
Thought this article snippet would be good to add to the site, it makes an interesting read for anyone who has a buy to let property, judging by this you are not alone.Figures released by The Council of Mortgage Lenders show that, for 2006, the Growth in lending to the buy-to-let market exceeded that to the residential housing market generally. 330,000 buy-to-let mortgages, representing a total of £38.4 billion, were taken out in 2006. Compared with 2005, these figures show an increase of 48% in the number of buy-to-let mortgages and an increase in total value of 57% which represents 11% of all new lending.Despite the increase in this lending, the proportion of buy-to-let mortgages which are in arrears by 3 months or more has fallen during 2006 from 0.64% in the middle of the year to 0.59% at the end of 2006. This compares with the higher figure of 0.89% for the wider mortgage market.Indications of rising rents, high tenant demand and reducing periods of property being unoccupied poin
The year of 2007 has been an unprecedented year for the industrial property market. The rentals and occupancy rates for all kinds of industrial space indicate the extreme demand which was present. A number of business park sites were sanctioned, a fourth industrial REIT began functioning and 10 industrial sites were allotted in 2007.
There was [...]
Offers market stats for selling, buying, investing real estate in burlingame village, san mateo beresford, foster city, ssf terrabay, hillsborough, sam mateo homestead, redwood city by rael estate consultant, Faye Weng, California, USA.
