April 13th, 2011
Interest rates hit a new record low today as the Bank of England slashed them by half a per cent.
They were cut from the previous low of one per cent to just 0.5 per cent.
The Bank also revealed it would make a staggering £75billion in new cash to tackle the economic downturn.
Official borrowing costs have fallen for the sixth month in a row, but the Bank said it will start so-called quantitative easing measures.
It means newly-printed cash will effectively be pumped into the economy over the next three months to ease credit conditions.
Nervous banks are still reluctant to lend despite rates at all-time lows, so the Bank is resorting to increasing the money supply.
Bank of England Governor Mervyn King has questioned Chancellor Alistair Darling for permission to make up to £150billion to pump into the economy.
Source: http://www.propertynews.com//blog/810/
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April 12th, 2011
For the first time in four years, property sales in Spain increased during 2010, according to the latest data released by Spain’s property register.
According to the figures, there were 445,885 homes sold in the country last year, up by 5.38 per cent compared to the previous year.
The news could be an indication that the market is back on track, with demand for homes in the country improving.
But, despite the improving level of transactions in the country, it has been reported that there are well over a million unsold properties in Spain at the moment, a figure which equates to approximately 20 per cent of Spain’s total housing stock.
Meanwhile, new figures released by the Public Works Ministry show that the recovery is being led by the Balearic Islands, with home sales in the region up 14.5 per cent in 2010 compared to the previous year.
Ignacio Osle, sales and marketing director of Taylor Wimpey de Espana, confirmed: "Over the past 12 months we have seen buyer interest in the Balearic Islands, especially Majorca, rise steadily."
Source: http://www.propertyshowrooms.com/spain/property/news/sales-increasing-across-spain_311243.html
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April 12th, 2011
Propertynews.com August traffic has broken all previous records with page views topping 18 million! This represents a fantastic 28% increase compared to this time last year.
The website is experiencing an uplift in first time buyers and rental traffic generating 25% of new visits every month. Estate agents have reported a noticeable uplift in enquiries generated from the website in recent weeks.
These traffic figures have reaffirmed that Propertynews.com is not only Northern Ireland’s most well loved website but is a key enabler in the homebuying process for thousands of house hunters and renters.
Emma McNally, Managing Director of www.propertynews.com commented “Reaching our highest traffic in the history of Propertynews.com, particularly over a summer month is an outstanding achievement. It shows clear signs that people are still interested in the property market.”
The website recently announced the launch of a new rental management software package, known as REDGE. It was designed and developed by Propertynews.com in conjunction with GCD Technologies, especially for the local NI Letting Agents.
Source: http://www.propertynews.com//blog/859/
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April 12th, 2011
A growing number of Britons have been showing an interest in overseas property in February, new figures have revealed.
According to the latest figures from foreign exchange company Moneycorp, Germany, France, Italy and Ireland all proved well loved destinations last month.
Property in Spain also proved to be a well loved search, the company added.
Robin Wilson, of Rightmove, said: "Bargain hunters are out in force, primarily focused on Spain and Ireland.
"We’ve been tipping Germany for a while now and the north eastern tourist hotspot of Mecklenburg-Vorpommern led the charge this month with searches up nearly 50 per cent."
Elsewhere, visitor numbers in Spain are expected to increase over the coming few months once the new terminal at Alicante Airport is opened.
The terminal will increase the capacity of the Airport from nine million to 20 million passengers a year and travellers will be able to take advantage of a whole host of new amenities including shops and places to eat and drink.
Source: http://www.propertyshowrooms.com/spain/property/news/spanish-property-proving-well loved-brits_311264.html
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April 12th, 2011
Turkey, a non-eurozone country with a warm climate, attractive coastlines, low cost of living and simple access from the UK and Ireland is an attractive option for holidaymakers and second home buyers.
But it is not only demand for coastal holiday homes around the likes of Marmaris and Bodrum that has foreigners interested. Savvy investors are turning their attentions to rapidly growing cities such as Istanbul, the economic powerhouse of the country, which has a significant housing deficit.
Situated on the Bosphorus Strait it is the only city in world that spans both Europe and Asia. Conservative estimates place the population at 13m and present housing stock has reached capacity. With over 400,000 new inhabitants arriving each year to work or study – the megacity is exploding.
“The success of Istanbul’s property market is a simple matter of supply and demand,” says Steven Worboys, MD of Experience International.
It is estimated that 250,000 new homes per year will be required until 2015 according to the Real Estate Investment Trust Association to meet the demand generated by foreign as well as domestic investment
Source: http://www.propertynews.com//blog/899/
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April 12th, 2011
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April 12th, 2011
Turkey, a non-eurozone country with a warm climate, attractive coastlines, low cost of living and simple access from the UK and Ireland is an attractive option for holidaymakers and second home buyers.
But it is not only demand for coastal holiday homes around the likes of Marmaris and Bodrum that has foreigners interested. Savvy investors are turning their attentions to rapidly growing cities such as Istanbul, the economic powerhouse of the country, which has a significant housing deficit.
Situated on the Bosphorus Strait it is the only city in world that spans both Europe and Asia. Conservative estimates place the population at 13m and present housing stock has reached capacity. With over 400,000 new inhabitants arriving each year to work or study – the megacity is exploding.
“The success of Istanbul’s property market is a simple matter of supply and demand,” says Steven Worboys, MD of Experience International.
It is estimated that 250,000 new homes per year will be required until 2015 according to the Real Estate Investment Trust Association to meet the demand generated by foreign as well as domestic investment
Source: http://www.propertynews.com//blog/899/
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April 11th, 2011
Property developers in Thailand are continuing to buy land for new residential projects, new research has found.
The news comes despite recent announcements from the Bank of Thailand that it would be decreasing LTV’s for condominiums to 90 per cent and the LTV’s for houses to 95 per cent to cool the property market, according to CB Richard Ellis (CBRE).
It could lead to an increase in the number of individuals looking to buy property in Thailand, with a number of new homes due to enter the market.
Over the past year, there has been growing concern about the level of foreign investment heading into the country, which has resulted in the national bank raising interest rates.
But, CBRE noted that yield for property investment did not change significantly and money is still being driven into the market.
"There have been significant foreign inflows into the Thai bond and stock markets but virtually no significant foreign investment into the Thai property market," the consultancy said.
Source: http://www.propertyshowrooms.com/thailand/property/news/developers-still-after-new-land-thailand_311250.html
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April 11th, 2011
A growing number of real estate developers are turning to Brazil for the best returns and largest opportunities, it has been suggested.
Indeed, this is the opinion of Research and Markets, which has now chose to add the country to its housing sector analysis to keep up with the unprecedented demand.
The firm clarified that the Brazilian property market is poised for "tremendous growth in the coming few years" as a result of its growing population, more affluent citizens and increasing demand for homes.
"Anticipating the market potential, Brazil is witnessing massive investments in its housing sector, from both the private and the public sector," Research and Markets said. "These investments are particularly targeted at meeting unprecedented demand for affordable housing units in the country."
Earlier this year, the Sao Paulo University Real Estate Department suggested that demand for residential property in Brazil could be set to rise this year.
The organisation said that continued economic growth and government investment are likely to bolster the country’s property market, while increased demand from the middle and lower classes will help to push prices up.
Source: http://www.propertyshowrooms.com/brazil/property/news/brazilian-property-market-will-delight in-unprecedented-growth_311252.html
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April 11th, 2011
Propertynews.com is pleased to support a new online charity jewellery store that has just been launched by Belfastbased charity Food For Thought Africa.
Food For Thought Africa may already be known to you from its African Art Gallery on the LisburnRoad. All profits from the sale of the art go directly to the charity’s feeding and education projects in Africa. With the success of selling African art under their belt, they have chose to turn their attention to selling a fantastic range of unique hand crafted African Jewellery.
Charity founder Maeve Marnell clarifies the concept behind the new site:
“We are a very hands on charity and I make regular trips to Kenya to oversee our school feeding programs. While there I am always amazed at the quality of jewellery for sale in the markets. Over the years I have bought quite a lot of jewellery both for myself and for presents and back home I was often complimented on the jewellery withpeople regularly asking me where I bought it. I knew then there would be a fantastic local demand for quality hand-crafted African jewellery.
The fantastic thing about buying our jewellery is not only do all profits go to fund our education and feeding programs, but you are also supporting Kenyan craftspeople by buying their goods and thus providing them with a living. We source the goods directly from the artisans on our regular buying trips to Kenya, so there are no middle men.”
The charity is supported by Former Miss Northern Ireland & Miss UK the Gayle Williamson. Gayle kindly agreed to model a selection of the jewellery.
To be in with a chance of winning the £60 gift voucher just click here to enter the competition.
We will accept entries up until the 14th of February. We will publish the winner on the propertynews.com blog before the 20th of February.
If you have not done so already please do take a look at www.africanjewellery.org and learn for yourself the fantastic new local gift site where all profits go to feed and education African children.
Source: http://www.propertynews.com//blog/988/
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