World Articles

Forex Course

Admin — Thu, 12 Nov 2009 07:37:30 +0000

One thing I don’t really do on this blog is talk about the basics of forex trading. I automatically assume most of my readers have a general understanding of how the forex markets work. However if you are looking for an entry level forex trading course, there is one course that I can highly recommend.

It’s called Forex Nitty Gritty and despite the dubious name, it’s actually a very impressive course.

This course assumes you have no prior knowledge of forex trading and starts right at the beginning. Through a series of online videos you will learn all the basics of forex trading. You will also be taken through out some of the more advanced subjects such as how you can use price patterns, fibonacci techniques and various different technical indicators to trade the markets. In short you are basically given a complete education in forex trading.

Furthermore if that wasn’t enough you are also provided with a simple, but very effective trading method that you can use to trade the markets. I use this method quite a lot myself on the intraday time frames and it works very well because it gets you into a trade whenever a currency pair is trending strongly upwards or downwards, so the odds are always stacked in your favour.

Anyway if you would like to find out more about this excellent forex course, you can do so either by visiting the Forex Nitty Gritty website or by clicking here and reading my full Forex Nitty Gritty review.

Source: http://theforexarticles.com/forex-course/

No Related Post

Forex Brokers

Admin — Thu, 12 Nov 2009 07:36:20 +0000

One of the hardest decisions you face when starting out as a forex trader is which forex broker to go with. If you do a search online you will find hundreds of different forex brokers to choose from. The trouble is that some are better than others, and furthermore there are some that you should avoid like the plague.

So let me give you a list of things you should look out for when choosing a forex broker:

1. Regulation

This is arguably the most important factor because whichever broker you decide to go with, you must make sure that they are fully regulated with the relevant authority. So if they are based in the US, for example, then you should ensure that they are regulated by the NFA (National Futures Association) or the CFTC (Commodity Futures Trading Commission). Similarly if they are a UK-based company, then they should be regulated by the FSA (Financial Services Authority).

If you go with an offshore forex broker that is completely unregulated, for example, then you are taking a huge risk because you may never see your money again.

2. Spreads

If you are a relatively long-term trader and mainly use the 4 hour or daily charts, for instance, then the spreads offered by your chosen forex broker is not so much of an issue. However if you intend to trade the shorter time frames then your points gains per trade will obviously be a lot less, and therefore the spreads will start to eat into your profits. So as a general guide you ideally want to choose a broker that offers spreads of around 2 or 3 pips for the EUR/USD and GBP/USD pairs, and certainly no more than 4.

3. Leverage

The amount of leverage offered by different forex brokers varies greatly. Some may only offer 100:1 leverage while some may offer as much as 400:1. My own personal view is that 100:1 is more than enough, but if you are more of a risk taker then you may want to look for brokers that offer higher leverage.

4. Demo Accounts

If you are relatively inexperienced or if you want to test out a broker’s trading platform before deciding whether or not you wish to open a live trading account, then you should choose a broker that provides a free demo account. Most reputable brokers offer demo accounts nowadays so I would always recommend you take advantage of this facility.

5. Account Types

Although all forex brokers cater for the well capitalized traders, not all of them cater for those traders who wish to trade smaller positions. Therefore if you yourself fall into this category, then you should look out for brokers that allow you to trade mini-lots (equivalent to around $1 per pip) or micro-lots ($0.1 per pip).

6. Minimum Deposit

If money is tight or you want to start off small (which is always a good idea), then you will want to choose a forex broker that requires a relatively low minimum deposit when opening a live trading account.

7. Charting Software

Nearly all forex brokers provide some kind of charting software free of charge when you open an account with them. It may be the highly popular Metatrader 4 platform or it may simply be a no-frills charting package. So therefore if you do want to use some of the more advanced charts, then I suggest you go with a broker that provides the Metatrader 4 or ProRealTime platform, for instance, otherwise you will have to fork out some money to access some decent charts elsewhere.

8. Additional Services

As well as charting software, you may also want your broker to provide a range of additional services such as daily commentaries, market analysis, educational materials and the option to deal through your mobile phone.

9. Customer Service

If you are just starting out as a forex trader you will probably have several questions and queries when you first open an account with a broker. So therefore you should try and join a broker that offers a high level of customer service. One way of testing this out is to contact the help desk of the brokers you are considering joining, ask them a particular question, and see how long they take to get back to you.

10. Customer Comments And Reviews

Finally your ultimate choice of forex broker will often be swayed by what other traders have to say about them. There are several websites which contain customer reviews of all of the leading brokers and you will find no shortage of opinions on all of the different forex forums.

However one thing I will say is that you will never come across brokers that have nothing but positive reviews, so don’t waste too much time looking for the perfect broker because it simply doesn’t exist. Just look for brokers that have a high number of positive comments and you should be fine.

* * * * * * *

To help you narrow down your search, here’s a list of some of the leading online forex brokers:

Alpari

Location: Russia / UK / US
Online Since: 1998
Account Types: Micro / Classic
Minimum Account Size: $200
Free Demo Account: Yes (unlimited)
Spreads: 1.8+
Charts / Trading Platform: MetaTrader 4

(Note: Alpari has three different websites (UK, US and Russia) so account features may vary).

CMS Forex

Location: US
Online Since: 1999
Account Types: Universal (trade mini and standard lots from same account)
Minimum Account Size: $200
Free Demo Account: Yes
Spreads: 2 pips for EUR/USD and USD/JPY pairs
Charts / Trading Platform: VT Trader 2.0

dbFX

Location: Germany
Online Since: 2006
Account Types: Standard
Minimum Account Size: $5000
Free Demo Account: Yes
Spreads: 2-4 pips for major currency pairs
Charts / Trading Platform: dbFX Trading Platform

Dukascopy

Location: Switzerland
Online Since: 2004
Account Types: Live / Managed
Minimum Account Size: $50,000
Free Demo Account: Yes (14 days)
Spreads: 0-2 pips for major currency pairs
Charts / Trading Platform: Java / JForex / Web

Forex.com (part of GAIN Capital)

Location: US
Online Since: 1998
Account Types: Mini / Standard
Minimum Account Size: $250
Free Demo Account: Yes (30 days)
Spreads: 1.1+ for major currency pairs
Charts / Trading Platform: MetaTrader 4

FXCM

Location: US
Online Since: 1999
Account Types: Mini / Standard
Minimum Account Size: $2000
Free Demo Account: Yes
Spreads: Typical spreads between 2 and 4 pips for major currency pairs
Charts / Trading Platform: MetaTrader 4

(Note: Separate Micro account also available).

FXDD

Location: US
Online Since: 2002
Account Types: Mini / Standard
Minimum Account Size: $250
Free Demo Account: Yes (90 days)
Spreads: 2 pips for EUR/USD pair
Charts / Trading Platform: MetaTrader 4 / MTXtreme / FXDD Trader / FXDD Auto / Power Trader

FXPro

Location: Cyprus
Online Since: 2008
Account Types: Standard / Premium
Minimum Account Size: $500
Free Demo Account: Yes (unlimited)
Spreads: 0.5+ for major currency pairs
Charts / Trading Platform: MetaTrader 4

GFT Forex

Location: US / Worldwide
Online Since: 2001
Account Types: Mini / Standard / Silver / Gold / Platinum
Minimum Account Size: $250
Free Demo Account: Yes
Spreads: 3-4 pips for major currency pairs
Charts / Trading Platform: DealBook 360

Interactive Brokers

Location: US
Online Since: 1998
Account Types: Universal
Minimum Account Size: $3000+ (depending on the type of account)
Free Demo Account: No
Spreads: 1 pip for EUR/USD pair
Charts / Trading Platform: Trader Workstation

Interbank FX

Location: US
Online Since: 2001
Account Types: Mini / Standard
Minimum Account Size: No minimum
Free Demo Account: Yes (30 days)
Spreads: 2 pips for EUR/USD pair
Charts / Trading Platform: MetaTrader 4

MB Trading

Location: US
Online Since: 2002
Account Types: Standard
Minimum Account Size: $400
Free Demo Account: Yes
Spreads: 0.1-1 pip for major currency pairs
Charts / Trading Platform: MetaTrader 4

MIG Investments

Location: Switzerland
Online Since: 2003
Account Types: Standard / Professional / Institutional
Minimum Account Size: $5000
Free Demo Account: Yes (90 days)
Spreads: 2-3 pips for major currency pairs (less with institutional account)
Charts / Trading Platform: MetaTrader 4

Oanda

Location: Canada
Online Since: 2001
Account Types: Standard
Minimum Account Size: No minimum
Free Demo Account: Yes (unlimited)
Spreads: 0.9 for EUR/USD pair
Charts / Trading Platform: FXTrade platform

ODL Securities

Location: UK
Online Since: 2004
Account Types: Standard (can trade from $1 per point upwards)
Minimum Account Size: $2000
Free Demo Account: Yes
Spreads: 2-3 pips for major currency pairs
Charts / Trading Platform: MetaTrader 4 (and other platforms for professional traders)

Saxo Bank

Location: Denmark
Online Since: 1999
Account Types: Saxo MiniTrader / Saxo Trader
Minimum Account Size: $2000
Free Demo Account: Yes (20 days)
Spreads: 2-3 pips for major currency pairs
Charts / Trading Platform: SaxoTrader

Source: http://theforexarticles.com/forex-brokers/

No Related Post

Best Forex Trading Signals

Admin — Thu, 12 Nov 2009 07:31:08 +0000

There are very few forex trading signals providers that are genuinely consistently profitable month after month. There are many that claim to be and have impressive looking performance records but very often it transpires that they massage their numbers, and use hypothetical figures in their calculations, rather than trade their signals themselves.

I’ve come across many different forex signals providers in my time. It’s hard not to as the internet’s full of them. Nearly all of them have turned out to be a waste of time. I thought I’d found a great site a while back in the shape of Forex Live Pro, but after having several highly profitable months, even they ended up going on a losing streak and have since closed down.

That’s why there’s only one company that I’m more than happy to recommend and that’s ZuluTrade.

ZuluTrade is basically an extensive database consisting of some of the best forex traders from around the world. You can trade any of the signals that these traders provide automatically in your ZuluTrade account. All you do is open an account, deposit some cash, and choose which traders’ signals you wish to trade (based on their past performance record). Then whenever the signals are provided by your chosen provider(s), the same positions are opened and closed automatically on your behalf in your account.

It’s basically a managed forex trading account where you’re in complete control over which signal providers you use, and all trading is completely automated.

Click here to find out more and to open a free demo account where you can experiment with different signal providers before trading with real money.

No Related Post

Analysts agree Australian property market is solid

Admin — Wed, 05 Aug 2009 16:12:17 +0000

Several of Australia’s leading real estate and financial experts have challenged the ‘doom and gloom’ outlook at a major panel event, saying the country’s property market remains resilient.

The event, held at Salt Village, saw financial commentator Michael Pascoe, demographer Bernard Salt, independent property analyst Michael Matusik and Tweed Economic Development Corporation CEO Tom Senti reveal emerging property trends, with a focus on the surging Tweed Coast region.

Both Mr Matusik and Mr Pascoe said a major concern was that misinformation about property and commodity values were dampening consumer confidence.
Mr Matusik said despite common belief, prices were not actually falling, and rising unemployment rates would not necessarily have a negative impact on values.

“It’s true that there has been a fall in median sale prices in recent months, but resale prices, which are a much better indicator of the strength of a market, have actually risen – particularly across the Gold and Tweed Coasts,” Mr Matusik said.

“In reality, the reported ‘fall’ in average property prices is a reflection of the fact the lower end of the property market is becoming more active and in the Gold Coast-Tweed region demand is strong for homes priced up to $750,000,” he said.

“Increasing unemployment rates are often cited as a major factor influencing waning property sales and values, but history has shown high unemployment rates don’t necessarily spell bad news for real estate.

“To the contrary, in previous turbulent periods such as 1992, 1997 and 2001, during which unemployment rose by an average of 2.3 per cent, housing prices rose by about 18 per cent over the same time frame.

“Today, many investors are looking back at the boom in 2003 and saying that was the ideal time to buy. The truth is, property market fundamentals are just as strong, if not better, today than they were six years ago.”

Mr Pascoe said some analysts had made extreme predictions about downward trends in property values.

“That well-publicised horror forecast that Australian home prices will fall by 40 per cent certainly grabs headlines, but it is demonstrably incorrect,” Mr Pascoe said.

“The counter-intuitive fact is that average Australian house prices – and I stress ‘average’ – actually increased during the last recession.

“There’s every indication the ‘average’ home will again prove remarkably resilient in this recession.

“What’s also being overlooked in the tales of woe about our economy is that the commodity boom is not dead. Last year’s ridiculously inflated bubble prices have burst, but our commodity exports are still doing better than they did in 2007.

“You wouldn’t want to be facing the global recession in any other country.”

Panelists argued the tight supply of property in many areas across the nation would put a floor under prices and ensure solid demand as consumer confidence increases.

“The Australian market is comparatively secure,” Mr Matusik said.

“The economic reality is that our country’s new housing market is likely to continue to be undersupplied for the next decade or so.

“The Gold Coast-Tweed region in particular has very tight supply. The Gold Coast needs an additional 137,500 new dwellings by 2031, but our research shows this target will not be met unless more Greenfield land is released for development.”

Mr Senti said he expected the Tweed would lure many south-east Queenslanders across the border, as the region offered a less expensive lifestyle whilst still boasting strong demand and low vacancy rates.

“Projections suggest by 2031, 38 per cent of Australia’s population increase will occur in the East Coast Growth Corridor, stretching from Coffs Harbour to Hervey Bay. The Tweed is the epicentre of this region,” Mr Senti said.

“There was underlying demand for 550 new homes to be built in the Tweed region last year, and this number is likely to continue to increase.
“Despite this region’s rapid growth and solid demand, the NSW government’s new Far North Coast Regional Strategy means only 19,100 new dwellings can be built in the Tweed Shire between now and 2031.”

Mr Senti said opportunity for job creation and economic growth on the Tweed were major draw cards for businesses and private investors.
“We are looking to create 25,000 new jobs in the region over the next 22 years,” Mr Senti said.

“To this end, TEDC initiatives have already resulted in some $650 million in completed or planned developments to date.

“The key to future-proofing the Tweed economy will include the development of masterplanned estates and business parks.

“We have already committed to the creation of a $350 million industry centre in Murwillumbah which will generate up to 2,000 jobs when occupied.”
Mr Salt said coastal regions would continue to prove popular with Australians for decades to come, for both lifestyle and economic reasons.

“The fundamentals that have driven the seachange shift over the past seven years have not changed, with beachside areas supported by good infrastructure and amenities, like the Tweed Coast, expected to lead the way over the next decade,” Mr Salt said.

“The baby boomer generation is on the cusp of retirement, and the latest demographic research suggests the majority of these people will move to settle in beachside locations between now and 2021.

“A seachange is also appealing to young families seeking an affordable lifestyle – in the Great Depression many people fled capital cities in search of new work opportunities and lower cost living. The same may happen, in a less dramatic way, due to the current turbulent economic climate.

“Whilst living by the beach is appealing in itself, the destinations that attract most people are those supported by good infrastructure, employment opportunities and tight supply in the housing market.

“The Tweed Coast demonstrates all of these qualities and, in particular, the opening of the Tugun Bypass road project will continue to build business and private investment opportunities between the Tweed and its neighbouring regions.”

Philippines tourism bucks downturn

Admin — Wed, 05 Aug 2009 16:11:14 +0000

Despite the downturn tourists have flocked to the Philippines in greater numbers this year, boosting the country’s burgeoning resort sector.

Over the first quarter of 2009 tourist arrivals to the South East Asian island nation rose by a staggering 51 percent to 1.3 million people compared to 858,244 during the same period last year, according to the Philippines Department of Tourism (PDoT).

Growing demand has led to a shortage of the best accommodation, increasing occupancy rates and resort yields. Commenting on the PDoT’s figures, the director of the Hotel and Restaurant Association of the Philippines, Rene C. Baltasar, has been reported to have said the country was getting up-market tourists but there was a lack of rooms compared to its regional rivals.

John Scott, from hotel investment specialist Asset Property Brokers, said: “Philippines tourism is doing extremely well thanks to a combination of attractive locations, culture and climate, and value that undercuts rivals.

“This together with a restricted supply of high-quality accommodation ensures high occupancy rates and yields for well managed resorts with the right facilities and location.”

Cebu was the most popular destination accounting for 32 percent of tourists, the PDoT reported.

Asset Property Brokers has properties available at Blue Coral Resort and Spa, Mactan Island, within 30 minutes of Cebu airport, the country’s second busiest airport. Among many attractions the island boasts reef diving, golf and powder white sand beaches.

Developing the Blue Coral Resort and Spa is Paradisya Land, one of the Philippines’ leading developers. The firm has a highly successful track record in creating major new tourist destinations.

The resort, managed by Continent Hotel and Resorts, has secured a major five-year booking with top South East Asian tour operator, Oriental Spirit Travel & Tours Corp, a subsidiary of Hyundai and Samsung.

Blue Coral Resort offers a guaranteed 80 percent occupancy level, on a rolling five year contract, providing returns of 14.4 percent to 20.9 percent, depending on the property type. Guaranteed 60 percent non-status developer finance is available.

EMEA sees falling rents and rising yields

Admin — Wed, 05 Aug 2009 16:09:14 +0000

CB Richard Ellis today announced the results of its Rent and Yield Indices for the first quarter of 2009, broadly reporting falling rents and rising yields across Europe.

Key findings included:

RENTS

Offices

Prime office rents across Europe fell in the first quarter of 2009. The CB Richard Ellis office rent index for the EU-15 area fell by 3.4% in the quarter, taking the year-on-year rate of growth to minus 4.1%.

Twenty eight of the 48 locations in the survey saw prime rent falls, one location increased and 19 remained unchanged. The largest falls occurred in Kyiv (down 33% to €357 per sq m per annum) and Moscow (down 20% to €918 per sq m per annum). The only increase was in Zagreb, where rents increased by 0.8% to €211 per sq m per annum.

Retail

Prime rents also fell in the retail sector. The CB Richard Ellis retail rent index for the EU-15 area fell by 1.3% in the quarter, taking the year-on-year rate of growth to 0.6%

Only one location in the survey saw an increase in the level of prime rent, 13 declined and 29 remained unchanged. The largest falls were recorded in Warsaw (down 33% to €960 per sq m per annum) and Bucharest (down 30% to €1,080 per sq m per annum). The single increase occurred in Birmingham, where rents increased by 9% to €1,669 per sq m per annum.

Industrial

Industrial rents also fell in the quarter. The CB Richard Ellis industrial rent index for the EU-15 area fell by 2.2% in the quarter, taking the year-on-year rate of growth to -4.6%

Twenty four of the 43 locations in the survey saw the level of prime rent remaining stable, 18 declined and only one location saw an increase. The largest falls were in Dubai (down 33% to €67 per sq m per annum) and Kyiv (down 22% to €64 per sq m per annum). The single increase occurred in The Hague, where rents increased by 8.3% to €65 per sq m per annum.

YIELDS

Offices

Office yields across Europe rose in the first quarter. The CB Richard Ellis office yield index for the EU-15 area rose by 19 basis points in the quarter, and as a result is 107 basis points higher than a year ago.

Thirty four of the 49 locations in the survey saw upward yield movements, two saw yields move lower and 13 remained unchanged. The largest rise occurred in Moscow with yields moving 150 basis points higher to 11.5%, with Sofia, Zagreb, Budapest, Bucharest and Belgrade each seeing increases of 100 basis points. Running counter to the general upward trend, there were yield reductions of 15 basis points in Manchester and Birmingham taking both to 7.5%.

Retail

Retail yields also rose in the quarter. The CB Richard Ellis retail yield index for the EU-15 area rose by 24 basis points in the quarter, and as a result is 98 basis points higher than it was a year ago.

Thirty of the 42 locations in the survey saw upward yield movements, 12 remained unchanged and there were no reductions. The largest rises occurred in Bucharest (300 basis points) and Moscow (150 basis points), leaving both at 11.5%.

Industrial

Industrial yields also rose. The CB Richard Ellis industrial yield index for the EU-15 area rose by 32 basis points in the quarter, and as a result is 120 basis points higher than a year ago.

Thirty two of the 41 locations in the survey saw upward yield movements, none saw yield reductions and nine remained unchanged. As in the retail sector, the largest rises (150 basis points) occurred in Moscow and Bucharest, taking them to 13.5% and 10% respectively.

Commenting on these changes, Richard Holberton, Director, EMEA Research said: “The effects of the general deterioration in short-term economic prospects are very evident in the downward pressure on all the sector rent indices this quarter. This weakening in the rental outlook, along with loss of liquidity and higher risk premia, continues to cause repricing in the investment market. Yields continue to rise in most markets, although some parts of the UK market notably saw very modest movements and, in a couple of cases, negative shifts.”

Dubai’s industrial sector shows great resilience

Admin — Wed, 05 Aug 2009 16:08:07 +0000

A recent report by CB Richard Ellis Inc., the world’s largest commercial real estate services company, confirms that Dubai has seen a substantial increase in Prime Industrial rents compared with the rest of the Europe, Middle East and Africa (EMEA) region.

The statistics featured in the EMEA Industrial and Logistics MarketView (March 2009) report show industrial rents to be at AED 45/sq ft/annum, up 50% in 2008, the eighth most expensive in the EMEA region . The top three markets for industrial rents are led by London Heathrow at £13.25/sq ft/annum (151.80 W / sq m); Geneva at SFR 210/sq ft/annum (139.44 W / sq m); and Helsinki at €132.00/sq ft/annum (132.00 W / sq m).

Guy Frampton, Head of EMEA Industrial and Logistics, CB Richard Ellis, said: “The Dubai industrial market has shown incredible resilience in the current climate, especially when compared with other EMEA markets which have experienced little or no growth or seen rents drop in recent quarters. Occupiers of industrial and logistics space are looking for flexible, adaptable buildings which will help to drive efficiencies and reduce operating costs. A two-tier market has emerged in some European markets as rents begin to rise for tailor-made facilities, despite an overall rental rate downturn on existing buildings last year.”

In Europe, demand patterns for industrial and logistics property are increasingly being driven by the need for occupiers to cut operating costs and increase building efficiencies. Against a backdrop of weakening demand for their products and services, occupiers are rationalising their use of space, seeking to restructure leases, sub-let excess space or upgrade to better premises that will enhance overall business operating efficiency.

With the main economic indicators that are relevant to the industrial property market – including capital investment and consumer spending – expected to turn negative in 2009, cost reduction strategies are high on the agenda for many occupiers. For manufacturers, this stems from the need to address excess capacity and weak price trends for many products, while distributors are increasingly looking for efficiency gains across the supply chain. This trend is resulting in generally slower leasing activity and reduced demand for industrial and logistics property, but is also driving demand and competition for the best quality space.

The quality and flexibility of buildings are also key influences on corporate costs and efficiency. CBRE’s latest Industrial and Logistics MarketView report found that well-located properties with the greatest potential for flexibility and adaptability are enticing occupiers and pushing demand for efficient buildings. Many companies, even in mature markets, still operate from outdated premises, further fuelling requirements for more efficient industrial and logistics space, even in an environment where demand is generally slowing.

Malta weathering the global crisis

Admin — Wed, 05 Aug 2009 15:57:28 +0000

“The credit crunch has been felt far less in Malta because of the rigorous regulatory regimes that Malta has and also because the financial banking sector is not as sophisticated as in other countries.

In a sense, whilst Malta may not be totally spared the impact, at least we have not been as badly hit as others”, says Benjamin Muscat, CEO at Midi plc

Midi plc is the consortium that is creating what is probably the most luxurious development of quality homes on the island. Having secured a dramatic and impressive location situated at the mouth of the world famous harbour, the company has had a highly successful operation with their chic, quality apartments and penthouses at Tigne Point.

Continued Muscat, “Although the Maltese economy has been adversely impacted by the global recession, Malta is still a strong proposition for inward investment in the e world, financial services and insurances sectors which are all complimented by a well educated, predominantly English speaking population. The pharmaceutical sector is highly successful too and Malta is increasingly recognised as a natural choice for producers of generic pharmaceuticals. Tourism is making a bigger impact on the local economy as top quality hotels attract monied, business people seeking a sunny safe island with easy access from both the East and the West”.

Malta is one country that is in a very good position to “ride the storm” because the country was totally sheltered from the collapse of the financial services and banking sector so it escaped the impact felt by many other countries.

Tigne Point is part of a key project incorporating commercial and retail space together with heritage and luxurious, high end homes. The development has proved highly successful with 235 apartments already sold, over 30% of which were bought by foreigners.

When it comes to accommodation Tigne Point is proving to be a main contender for the leading home away from home option on the island. These unique waterfront homes are set in landscaped gardens offering owners breathtaking views of the Mediterranean sea or of Valletta itself, a City that comes to life at night as it glimmers across the quiet waters.

Easy Jet, Ryanair and SAS announce new flights to Malta

Brazil’s tourism industry sees continued growth

Admin — Wed, 05 Aug 2009 15:55:23 +0000

Figures from the World Travel and Tourism Council (WTTC) show that in 2008, Brazil’s tourism industry rose to 13th position in the world in terms of the economic activity it generates.

It also predicts the sector will expand at an average annual rate of 4.5% between 2010 and 2019 allowing for a slight contraction in 2009 due to the global economic downturn.

It is the North East of this huge country that is drawing increased interest from visitors; the State of Rio Grande do Norte and especially resorts near to the city of Natal.

Around 10 years ago the Brazilian Government in this region initiated a large public investment programme of over 670 million dollars in transport, environment, infrastructures and tourism management bodies. The success has resulted in phase 2, a 400 million dollars investment some of which has been allocated to building the massive new airport, San Gonzalvo, which will be the 4th largest in the world in 2010 when it is scheduled to open. It will certainly be needed following an estimated 134% increase in visitors to Brazil since 2004.

“Brazil is a fascinating country”, says Pat Creevy, MD at Charles Oliver, specialists in high end homes around the world. “Natal is a coastal city where 1.7 million Brazilians spend their holiday, together with thousands of British.

This is why we are delighted to be marketing such an exceptional development of beautiful holiday homes at Laguna Beach an exclusive coastal resort just 25 minutes from Natal city and International Airport. We feel that the superior homes in their incomparably beautiful location will be of immense interest”.

Laguna Beach sits on the white sandy beach backed by natural countryside. It offers the glamour and excitement of close proximity to a major city yet its quiet, lay back charm is a haven for those seeking a select retreat in the finest of locations.

Certainly the prices are attractive with apartments starting from just £66,500.
There is a wide price range so those looking for a larger more impressive property may prefer an exclusive beach bungalow where three bedroom, three en-suite bathroom properties range from approx £214,000 to £221,000.

Top property hotspots of January 2009

Altinkum to get a property boost

Admin — Wed, 05 Aug 2009 15:53:59 +0000

The Altinkum Didim Yacht Marina in Turkey has been in the pipeline for an absolute age, but the waiting is finally over. The £33.6 million marina will open next month, potentially giving a huge boost to property in the Altinkum area.

The luxury marina will cover more than 287,000 square metres of land between Third Beach and Parlementerler, to the west of Altinkum and is set to change the face of the Turkish coastline at Didim.

The largest marina in the Southern Aegean, the Didim D-Marina will include a heliport, customs, own pier and high-end shopping centre, not to mention space to moor more than 1,000 yachts, blowing Bodrum’s 450-berth site out of the water.

The marina boasts berths for 623 yachts afloat and space for 600 yachts ashore, plus yacht lifts for 300 and 100 tonne boats.

Restaurants and bars will be opened all around the marina, which is to be built by Dogus Holdings, one of the biggest organisations in Turkey. They will also retain a 25-year operating lease.

The marina will also have ferry links to the Greek islands of Kalimnos, Kos and Leros, as well a customs post, port authority facilities and passport control.

Didim D-Marina signifies a new lease of life for the already buoyant Didim region, as it will open up the area to a whole new tourism market. Local property developers are expecting an influx of international investors following the marina’s launch. Whilst prices in the area are currently low, it is thought that the new project will have a dramatic effect on them, despite the current global crisis.

More than 5,000 homes have already been bought in the Aydin district, under which Didim and Altinkum fall, according to the Turkish Land Registry.

Overall, German residents show the greatest interest in real estate in Turkey but they are closely followed by British and Greek people.

A Spokesman for Dogus Holdings said, “Property in the Didim area, close to the marina is currently very affordable.

“A simple two bedroom apartment can be purchased for £30,000 to £45,000, but the growth trend in property prices means that you should expect to double your investment within the first five years, perhaps even sooner.

“This area will provide serious long term gains in property values for it is a perfect location for investors. There has never been a better time to invest in Didim property.”

Alongside the new marina, there are also plans to construct a golf course nearby. The course, which will be completed in 2013, has already had its plans approved by the Turkish Ministry of Culture and Tourism.

Don’t yield to false profits warns expert

Admin — Wed, 05 Aug 2009 15:51:56 +0000

Today, a top property expert warned investors to beware of false rental yield guarantees made by some developers and agents.

John Scott, from hotel investment specialist Asset Property Brokers, said: “Some rental yield guarantee schemes, typically offered over a period of two years, are actually funded by the purchaser buying the property at an inflated price. For example a property priced at £80,000, but worth £60,000, allows the developer to give back to the purchaser £20,000, fulfilling a guaranteed yield of £10,000, or 12.5 percent per year over two years. This ruse particularly applies to apartments, villas or hotel rooms, built in areas with poor occupancy rates and oversupply. The result is at the end of the guarantee period in the third year buyers are left with properties that earn them very little, if any, rental income, and a financial disaster.

“To avoid this, purchasers in the case of hotel projects must examine occupancy rates for the area and the managing company’s long term booking contracts. Similarly, for renting out villas and apartments purchasers must check where the demand will come from and whether there is oversupply in the area.”

Asset Property Brokers has properties available in the Philippines at Blue Coral Resort and Spa, Mactan Island, within 30 minutes of Cebu airport, the country’s second busiest airport. Among many attractions the island boasts reef diving, golf and powder white sand beaches.

Developing the Blue Coral Resort and Spa is Paradisya Land, one of the Philippines’ leading developers. The firm has a highly successful track record in creating major new tourist destinations.

Toronto attracting record number of tourists

Admin — Wed, 05 Aug 2009 15:50:34 +0000

What has Canada’s largest city got to offer (aside from the fact that it regularly plays New York City’s body double?) TheMoveChannel.com finds out why it attracted more then ten million tourists last year alone.

A self-proclaimed ‘mega-city,’ Toronto mirrors New York City and is made up of what were once six separate cities; Etobicoke, North York, York, Scarborough, Toronto and the borough of East York.

The area was annexed into the City of Toronto in 1998, but the areas are still often referred to by their former names and maintain a unique flavour.

To get a feel for what the city looks like, bear in mind that, in countless films, Toronto, which lies along the northern shore of Lake Ontario, has doubled for New York City.

The Harbour front is a popular area in Toronto, home to entertainment venues and a lakeside walking trail. The celebrated CN Tower offers fantastic views across the cityscape from its viewing platform at the top – 1,815 feet up.

Toronto is a city built within a park, and with 1,500 named parks and 8,000 acres of parkland, offers the perfect green-living antidote to busy city-life.

One of the best known parks is Allan Gardens, which used to be rather seedy, but since the University of Toronto relocated its Botany Greenhouses there in 2004, has been infused with new life.

Allan Gardens was Toronto’s first civic park, created on 10 acres donated to the city by former Mayor George William Allan. Originally called the Horticultural Gardens, the city renamed the park after Allan died in 1901.

The stunning glass-domed Palm House conservatory dates back to 1910 and contains six huge greenhouses. It has been joined by the University’s restored and renovated greenhouses, which are now called the Allan Gardens Children’s Conservatory.

Toronto also boasts The Music Garden, conceived by internationally renowned cellist Yo-Yo Ma as an interpretation of Bach’s First Suite for Unaccompanied Cello; and Rouge Park, which is the largest natural and cultural heritage park situated in an urban area in North America.

Toronto is ranked as the number one cycling city in North America, with more than 522 miles of trails, the most notable being the Martin Goodman trail, a 14-mile path along the waterfront.

Now we can start to see why Toronto pulled in over ten million tourists last year. Brits make up the highest proportion of visitors from any one country, all drawn by the outdoorsy opportunities and cultural twist.

Yorkville, the city’s trendiest neighbourhood, is home to the most elegant shopping and dining. The Toronto Eaton Centre in Yorkville is one of North America’s top shopping destinations and Toronto’s most popular tourist attraction with over one million visitors flocking in per week.

Greektown on the Danforth has one of the highest concentrations of restaurants per kilometre in the world. The area hosts the annual Taste of Danforth festival, a celebration of Hellenic cuisine and culture, which was modelled on the hugely popular Taste of Chicago festival.

The Distillery District, a pedestrian village, is a more bohemian area of the city and is bursting with boutiques and art galleries.

Toronto is also home to more than fifty ballet and dance companies, including the National Ballet of Canada, the Canadian Opera Company and the Toronto Symphony Orchestra calling the city home.

No Related Post

Costa Ballena in Spain ticks all boxes

Admin — Wed, 05 Aug 2009 15:47:41 +0000

Even when applying the magic formula of ‘sun + beach + golf’ many holiday resorts come a cropper. Over-built, over-crowded and over-hyped. But not Costa Ballena.

This Andalusian Tourist Board masterminded development at the heart of Spain’s southern coastline constitutes something of a blueprint for holiday resorts of the future.

Costa Ballena was founded almost ten years ago on a four million square metre tranche of land between the ancient fishing villages of Chipiona and Rota. Displaying proud Royal roots the land once belonged to members of the Spanish Royal Family – manzanilla barons Orleans-Borbón – who remained involved in the development throughout. In fact the matriarch of the family, Doña Beatriz de Orleans-Borbón, is current president of the golf club. Today the resort declares itself to be one of the most advanced tourist resorts in Europe and this is largely based on its social and environmental awareness.

Chris Mercer, Director of real estate company Mercers based in nearby Jerez explains, “The planning of Costa Ballena was extremely strict and up to the present day only 25% of the project is occupied by buildings. The rest is given over to open space in the shape of parks, orchards, lakes, beaches and golf courses – of which there are 36 holes in total. Construction is restricted to three storeys, has to be over 300 metres from the shoreline and a revolutionary pneumatic refuse collection system reduces the presence of heavy vehicles and nasty odours throughout the community. Costa Ballena’s architects have managed to blend a respect for the past with a keenness to embrace the future and the result is quite outstanding. We wondered why the foreign investor hadn’t fallen for Costa Ballena before, but it seems that native Spaniards snapped-up the entire development from the plans and kept it their little secret. Only today with resales emerging have other buyers been able to take a slice of the magic.”

Costa Ballena even has a quaint tale behind its name. Back in the days when animals spoke to humans (oh yes they did) a group of sailors returning from a voyage across the seven seas spotted a whale (‘ballena’) off the coast of Cádiz emitting a jet of misty air from its blowhole. The whale explained that he had spent his life searching for a land where the seasons were mild, the sun warm, with golden beaches, clear rivers and rolling fertile plains. Knowing that he’d at last found his idyll the whale decided he was tired and passed away on the sand in the company of a beautiful sunset. Legend told and Costa Ballena named.

At the heart of sherry country, Costa Ballena borders more than 6.5km of unspoilt wedding white beach lapped by clear waters and dotted with lively toe-in-sand chiringuito beach bars. The resort itself is gated and has every conceivable facility from four star hotels through to Spas and shops through to restaurants. Sporting amenities range from relatively sedentary cycle tracks and swimming pools through to energetic tennis courts, windsurfing schools and horse-riding centres.

Twice Masters winner José Maria Olazabal’s championship golf course is a true highlight of Costa Ballena. Opened in 1995, many of the 27-holes run spectacularly close to the Atlantic and its many water hazards and tricky bunkers provide a real golfing challenge. Meanwhile the 9-hole par three is a perfect complement to the on-site golf school.

Stepping outside of Costa Ballena, the traditional towns of Rota, Chipiona, Sanlucar de Barrameda and El Puerto de Santa Maria festooned with monuments, fiestas and gastric delights whilst Jerez (30 mins) Seville (1.5 hours) and Gibraltar (1.5 hours) are all served by low-cost airlines direct from the UK.

Costa Ballena has not remained immune from Spain’s ‘new lower prices’ and can now offer discounts of up to 40% from the peak prices of three years ago. Now is without doubt the best time to buy in Spain’s model holiday resort.

Valuations artificially depressing prices in US

Admin — Wed, 05 Aug 2009 15:46:35 +0000

We all know that the US property market is in a state right now (no pun intended) so news that an increasingly popular way of valuing properties could in fact be damaging real estate prices is generating much concern.

As everyone looks for ways to save some cash, American property owners are increasingly turning to Broker Price Opinions (BPOs) for a valuation on their property as they are far cheaper than traditional valuations carried out by registered property appraisers.

These BPO valuations, which are often done by estate agents with minimal training, cost as little as £35, as opposed to several hundred pounds when a trained appraiser values a property.

But now there are warnings that the agents who are carrying out these BPOs are valuing the properties very low in order to ensure a quick sale and get the market moving again.

Research from the Affiliated Appraisers has shown that BPOs frequently understate actual market values by thousands of pounds.

These low valuations could be artificially depressing US real estate prices. BPOs pull other property prices down because, under lending industry underwriting guidelines, appraisers must consider recent listing prices as well as sale prices.

As they are more often carried out on foreclosure properties owned by banks, they are having even more of an impact where prices are already low.

In order to clamp down on these potentially harmful valuations, appraisers and consumer groups are calling for regulations to be introduced to the valuation market.

The Appraisal Institute adds to the wave of anti BPO feeling, saying that not only do its members lose revenue when property owners or lenders order BPOs, but that it brings down standards.

On the other side of the story, some surprised homeowners in the US are discovering that their property valuation remains far higher than they thought it would.

As US homeowners receive their 2010 property valuation notice this week, valuation and sales prices are found to be miles apart and the value of their homes hasn’t dropped as much as they had assumed it would.

Some homeowners are suspicious, thinking that the values are being kept artificially high so that local Governments can rake in more tax.

However, assessors and industry experts say that property valuations traditionally lag far behind the housing market and county is limited in what sales data can be counted toward establishing values.

New Zealand being rubbished on an expat blog

Admin — Wed, 05 Aug 2009 15:43:57 +0000

Social networking and blogging has become the 21st Century way of expressing ourselves and anyone who’s worth their salt is blogging, tweeting or facebooking about something – but now, a new blog on an online expat guide has caused major controversy by rubbishing New Zealand.

Would you want to visit a ‘horrible, soulless’ place inhabited by hobbits? Exactly. And that’s the problem the NZ tourist board have with a new blog written by an Australian duo on their website.

The online expat guide was created by the Australians, a professional couple in their late twenties who recently moved to New Zealand.

They show no mercy on their new home, which is a place millions of people long to emigrate to, describing Auckland as a ‘horrible, soulless’ place where they couldn’t even buy a copy of The Age (an Australian newspaper).

They also criticise Auckland’s other major cities, its beer and its ‘lack of worldliness or culture.’ Kiwis are described as ‘hobbits’ with no dress sense.

Kiwis are fiercely proud of their beautiful country and all of these comments have upset and baffled them. Tourism Chief Executive, Graeme Osborne, said, “Maybe they’re just envious that Auckland recently rated ahead of every Australian city as a tourist destination.

“They should get in touch with me personally and I guarantee I’ll change their impression,” he added.

The couple also trashed stunning Rotorua, a popular tourist destination famed for it sulfuric activity, saying it ‘absolutely stinks.’

“How do people tell when their eggs have gone off?” screams the blog.

Ruth Crampton from Destination Rotorua, said it was ‘the smell that makes us special.’

Once it was discovered that the bloggers were in fact from Tasmania, which has traditionally been the butt of all Aussie jokes (unfairly so, I might add – it’s a beautiful place with loads on offer) they were getting a taste of their own medicine.

Professor Philippa Mein Smith of the NZ Australia Connections Research Centre said, “Isn’t Tasmania the butt of all the jokes over there?

“They’re just attacking us because they themselves are at the bottom of the pecking order back home.”

Whilst it makes an amusing story, the blog has done nothing to help unite Australia and New Zealand, and, instead of the famous Aussie tourism campaign asking ‘where the bloody hell are ya?’ this blog begs the question to the couple ‘why the bloody hell are you still here then?’

The Spellings are selling up

Admin — Wed, 05 Aug 2009 15:42:53 +0000

It may seem like an inauspicious time to be selling the most expensive home in the US, but that hasn’t put Candy Spelling, wife of the late TV producer Aaron Spelling, from putting her Holmby Hills mansion up for sale for an eye-watering £105 million.

The Spelling home, which is known as The Manor, is the largest property in Los Angeles County, at 56,500-square-foot, and is set in 4.6 acres of land. Built in 1991, just as Aaron’s biggest show, Beverley Hills 90210 was taking off; it counts the Playboy Mansion and the uber-exclusive Los Angeles Country Club amongst its neighbours.

Years ago, when Aaron was being interviewed about his home, he was unable to remember how many bathrooms the house had, saying between 16 and 26, which gives some indication as to the sheer size of the place. In total, the house is said to have 123 rooms.

It also boasts a bowling alley, wine cellar and tasting room, a China room, library, gym, humidity-controlled silver storage room, screening room, barber shop, beauty salon and gift-wrapping room.

If this isn’t enough to encourage you to make that offer, there are also numerous swimming pools, tennis courts and parking space for more than 100 cars.

The estate also has an 18th Century-style garden, a rooftop rose garden and a citrus orchard.

Obviously selling a home of this nature requires an estate agent with much experience, tenacity and a bulging contacts book, so Candy Spelling enlisted the help of a trusted advisor when it came to choosing which agent to use.

She let her dog choose. Madison the soft-coated Wheaten Terrier was present at every agent interview and Candy watched how the pet reacted to each. If Madison didn’t seem to like them, they were crossed off the list.

She (Candy, not Madison) now has plans to downsize to a £33 million, two-story condo in a residential tower in LA.

Abu Dhabi real estate faces a supply and demand imbalance

Admin — Wed, 05 Aug 2009 15:40:43 +0000

Abu Dhabi is faced with a property supply and demand dilemma! Home to 1.4 million residents at present it is expected to grow dramatically between now and 2030 where it estimated that there will be some 3.1 million residents, an increase of a staggering 1.7 million people.

Oliver Hickey Managing Director of Nexus Development Ltd said, “The Abu Dhabi 2030 plan is set to transform this capital Emirate by 2030. Over ambitious? Far from it. This realistic government backed period of growth over the next 20 years will set Abu Dhabi on a pedestal and elevate and secure its position as the hub of the Middle East. However the wealth that Abu Dhabi enjoys, is expected by many to lift it to new heights with many believing that Abu Dhabi will become an international and financial trade hub. Real estate, tourism and infrastructure will be the ultimate winners, but don’t forget the financial backers, whether government owned, large corporations or individuals, they will all benefit from this huge undertaking.”

Already we are seeing the planned benefits of the Abu Dhabi 2030 plan captivate the world’s attention. The new Grand Prix circuit is already in place to host the 2009 Formula 1 Grand Prix finale. Saadiyat Island with developments of up to $40 billion earmarked for construction is toasting the near completion of the 1.4km Saadiyat Bridge which will cut commuter time dramatically from Abu Dhabi International Airport to the down town area.

Construction of The Louvre and Guggenheim museums is anticipated as opening by as early as 2014. All in all, the Abu Dhabi 2030 plan has been instrumental in moving Abu Dhabi into the 21st Century and ensuring its hierarchy status for the remainder of the Century. Even as a world recession knocks on the door, analysts predict there will be little upheaval to Abu Dhabi by recent economic events.

Oliver continues, “With such an increase to the population and tourism figures predicted to grow up to 2.7 million a year over the next five years, Abu Dhabi’s International Airport has planned to increase its capacity dramatically and is expecting up to 30 million people a year by 2030. Bit by bit the jigsaw of Abu Dhabi is starting to show a clearer picture. More cultured and richer than its flamboyant neighbour, Dubai, this modest Emirate is probably one of the most exciting investment regions to date and investors of all backgrounds are set to enjoy a prolonged profitable period as the final pieces slot into place.”

Asian property sector to stay more liquid and recover faster

Admin — Wed, 05 Aug 2009 15:38:55 +0000

Asia’s property sector will see new pockets of opportunity and value emerge during 2009 ahead of a more concerted market improvement in 2010 – that was the prevailing view of a panel of Asian based property investment experts at the Cityscape Connect Business Breakfast in Singapore today.

This inaugural networking event in Singapore was held as a lead-up to Cityscape Asia 2009, an exhibition and conference taking place from 19 – 21 May at the Singapore International Convention and Exhibition Centre (Suntec Singapore).

Speaking at this morning’s discussion, Mr Nick Crockett, Associate Director Structured Finance, Asia Capital Markets, Jones Lang LaSalle (JLL) said that although some individual players in Asia’s property sector are facing ‘tremendous pressure’ according to the region as a whole has greater liquidity and the prospect of more deals happening more quickly than either Europe or America the panelists said.

“The overall quality of lending has been higher in Asia than some of the things that have happened in Europe and the United States (US),” said Mr Alan Dalgleish, Executive Director, CBRE.

Generally higher equity ratios in Asia are also assisting to stabilize the market, compared to the United States where 95% or 100% debt finance had become the norm according to Mr Blake Olafson, Director, Head of Real Estate Asia, Arcapita.

One area of exception was the REIT sector, where debt refinancing is an issue for the region because of the shorter debt finance cycles, said Mr Peter Mitchell, Chief Executive Officer of the Asian Public Real Estate Association who noted that Asian REITs hold a greater proportion of short term debt finance than their Western counterparts and the Singapore market would see re-financing requirements of SGD$19-20 billion in 2009.

“REITS have been impacted like many other investment classes, but longer term, the model offers a number of attractions, including the greater liquidity they offer,” Mr Mitchell said.

Mr Olafson said property investors as a whole are becoming more discriminating and risk is being more realistically priced. “Over the past few years all of the categories of property got compressed in the feeding frenzy, but now it is separating out to a proper stratification of price and quality for A, B and C grade properties,” he said.

“There is a flight to quality – Singapore, Hong Kong and Japan have emerged as preferred investment locations ahead of more adventurous places,” said Mr Dalgleish.

Investors and the developer community are working closer together than ever before. Arcapita’s Olafson said, “We are seeing a massive shift towards investors getting involved on the developer side,” while Mr Crockett concurred: “The number of developers approaching JLL to look for joint venture partners has increased remarkably in the last three months.”

Pointing to a possible more broad-based recovery in 2010, Mr Crockett said this would be led by large Asian private companies and conglomerates, who are relatively lowly geared, “although we are still seeing money come through from Europe and the Middle East”.

Another unexpected savior might be US Institutional Investors. “US Pension and Endowment funds are picking up a more global mandate and have orders to invest more of their portfolio globally, especially in Asia,” said Mr Mitchell.

“They will not see a lot of action in 2009, but will resume allocations in 2010 and re-weight their portfolios upwards to one third Asia, one third Europe and one third US.”

“The long term strength is definitely there, the demographic trends and long-term economic growth and it [the property markets] will all come back,” said Mr Dalgleish.

Major property investors set to gather in Singapore at Cityscape Asia 2009

French leasebacks investigated

Admin — Wed, 05 Aug 2009 15:34:29 +0000

French leasebacks are touted to be safe long-term investments, with limited downsides – TheMoveChannel.com finds out if this really is the case.

France property has traditionally been a hot favourite with second home buyers and buy-to-let investors, thanks to the country’s strong rental potential.

Today, it remains a popular property investment destination, with some developers introducing the idea of a leaseback scheme to appeal to investors looking for a long term opportunity and reliable rental returns.

In today’s shaky market, investors are keen to snap up a stable investment and leaseback could provide that for them – they buy the property and hand it over to the developer for a fixed term, who then rents it out on behalf of the client for an agreed return.

The downside is that, often leaseback schemes don’t offer any personal usage – so if a buyer was purchasing a holiday home rather than aninvestment property, the idea of leaseback may not suit them.

There are some deals around that include a few weeks personal usage each year, or offer the property to the owner to use during un-let periods and they then pay a discounted rate to ‘rent’ their own property.

The leaseback schemes have really taken off in France as they have been encouraged and supported by the French Government and can also offer investors a VAT rebate as the cost of the VAT is often removed up front from the purchase price.

Leasebacks may not be so good if investors are seeking to make a large profit quickly, or are looking to flip the property in a year or two. They are best suited to those who are seeking long term gains and don’t want the hassle of arranging letting, property management or maintenance themselves.

French leasebacks are the property equivalent of the good on paper guy – whilst they will not bring huge, spontaneous returns, they will offer a slow, safe and steady investment.

Leasebacks have a fixed term so investors will be locked into a contract – but these terms differ vastly in length, so make sure you know exactly what you are getting for your money before signing on the dotted line.

If the leaseback is as long as 20 years, by the end of the leaseback term, the mortgage may have been mostly paid off, thus buyers will be left with a property that they own in full. They can now choose what to do with it – either continue to rent it out or move in themselves

One in four Brits want to escape the UK

Admin — Wed, 05 Aug 2009 15:33:18 +0000

It’s no secret that hoards of Brits would love to escape the economic downturn and move to pastures new, but who knew it would be quite so many?

New research has found that four out of every five people living in Britain are desperate to emigrate, with the majority hoping to sun it up in Florida.

Quitting the UK for sunnier climes is nothing new, but the sheer number of people looking to do so has sky-rocketed since the credit crunch first darkened our doors.

The survey, carried out by perfectholidayhome.co.uk, found that, if no obstacles existed, 79 per cent of Brits would choose to emigrate. As usual, the top reasons for leaving the UK would be to enjoy a better lifestyle and escape the British weather.

The survey did hold one surprise, revealing Florida to be the most popular emigration destination, as opposed to the traditional hotspots of Spain and Australia. Whilst 42 per cent chose Florida, 20 per cent chose Australia and New Zealand and Spain and France received just six per cent each.

Micro-hotels

However, if you are not in the market for making the life changing decision to emigrate, how about a holiday that’s perfect for these credit crunched times?

New York wouldn’t be the first place that springs to mind for a budget holiday, with accommodation in a central hotel costing an arm and a leg. But now, to fit in with the financial times, (not the newspaper, the climate) a New York hotel is offering rooms for less than £68 a night.

The Jane Hotel, close to Manhattan’s uber trendy meatpacking district, offers luxury sheets and high tech audio system including iPod dock, flat screen TV, DVD player and free wireless internet in each of its 150 tiny single rooms – which are just 50 square feet in size.

Guests store their luggage in storage spaces above and below the bed and each room has a small window so it doesn’t feel too cell-like.

Cheap rooms aren’t all that’s on offer at The Jane – the place is also swimming in history.

The cabin-like rooms have been in place since the building was completed in 1908, originally meant to house sailors.

Even more exciting is the thought that the building once sheltered the surviving crew of the Titanic who were held there until the American inquiry of the sinking was complete.

Today’s guests have to share bathrooms with others on their floor. If this is too much for you to cope with, there are 150 slightly higher priced rooms which include private bathrooms.

The hotel is opening in stages between now and the summer and is hoping to attract the budget conscious holidaymaker and business traveler looking to get a lot of bang for their buck.

Several national hotel chains are said to be interested in bringing the micro concept to life within their own hotels so this could be the start of a whole new way of small time living.

New Zealand being rubbished on an expat blog

Russians start investing in Cyprus

Admin — Wed, 05 Aug 2009 15:26:42 +0000

The Russians have proved to be shrewd property investors over the years, with others following ‘hot on the heels’ of their decisions.

With the Russian stock market becoming increasingly erratic, wealthy Russians are selling their shares and tending to re-locate their resources into overseas property markets and one of the main beneficiaries of this vast wealth is the Republic of Cyprus (Source: Oban Multilingual).

Jonathan Salsbury, Cybarco UK Manager says, ‘Cyprus has been attracting Russian investment for some time – favourable tax conditions, stable economy, regular flights and comparatively low prices at the top end of the property market, but the economic downturn has made this Mediterranean island with it’s 340 days of sunshine per year, stunning beaches and safe environment, an ideal residential choice as well as a financial one. The difference today is that the Russians are buying homes, not just investments.’

Initial Russian interest in the island was as a tax haven, with an estimated $1billion a month flowing out of the ‘motherland’ and into Cypriot banks back in the mid-90’s and the Russian shipping industry found a second, tax efficient home in Cyprus.

The migration accelerated after the Russian financial crisis of 1998, as entrepreneurs sought stable overseas havens for their assets and today there are a reputed 2,000 Russian businesses on the island, with trade between the two countries reaching several hundred million dollars a year. Flights from Moscow take a mere 4 hours and up to 200,000 Russians visit Cyprus each year (Russian Association of Tourist Agencies).

Whilst financial considerations have played their part in continued Russian investment, today’s appeal also lies in exceptionally low crime rates and the Mediterranean environment. Properties such as Cybarco’s ‘Hillcrest Villas’, in beautiful Peyia village provide luxury 3-bed accommodation and are ideal for those looking for a discrete existence, a gentle pace of life, but with the convenience of nearby amenities.

Salsbury added, ‘Limassol has recently undergone a significant re-birth – upgrading facilities – which has in turn attracted a wealthier buyer and maintained steady price rises. The multi-award winning ‘Amathusa Coastal Heights’ is an exclusive ‘village’ development in one of the best residential areas of the city and has seen particular interest from both Russian and British buyers.”

Opposite a blue flag beach, the project epitomises the high standard of build and finish that is synonymous with Cybarco and which is becoming more prevalent in the Republic. Capital growth has risen by 60% over the last 5 years and is predicted to continue at 8-10% p.a into the foreseeable future.

The Russian community has grown particularly in Limassol, where astute business people have seen the potential for capital growth in property due to the forthcoming Limassol Marina. Developer Cybarco is the Project Manager and Selling Agent.

‘Just a stroll away from the heart of Limassol, this Marina is set to become the most exclusive resort in the Eastern Mediterranean. It will offer high quality homes, some on man made islands and will appeal to all those who enjoy luxury, elegance, privacy, yachts and living on the sea,’ said Salsbury.

Other facilities attracting the Russians are the high educational standards and good private schools for their children. Certainly the country has an excellent infrastructure from roads and airports to high quality medical services and, of course, a shared religious heritage.

Even the famous Russian Poet, Alexander Pushkin appears to approve, as his bronze bust looks out from a park at the ‘goings on’ in Limassol.

Russian investors return to the prime London market

Istanbul remains buoyant despite the downturn

Admin — Wed, 05 Aug 2009 15:17:53 +0000

A new report from Jones Lang LaSalle has found that despite the global economic slowdown, the residential market in Istanbul remains buoyant, with plenty of opportunities on offer for investors and second home buyers, especially approaching 2010 when the city will be named European Capital of Culture.

The shortage of available land in the centre of Istanbul has pushed up market prices, and forced residential developers to expand towards the city’s periphery.

These emerging areas are being supported with planned transport links, while regeneration plans aim to move industrial production to the outskirts of the city to help the development of residential areas within the city centre.

Jones Lang LaSalle’s new report ‘Istanbul Real Estate Overview,’ showed that there was huge potential for long term growth.

Avi Alkas, Chairman of Jones Lang LaSalle Turkey, said, “The residential market in Istanbul has undergone rapid development over the last five years, and market drivers remain strong, creating further room for continued growth.

“The city offers huge potential with an expanding middle class and their strong investment intentions, ongoing migration into the capital, as well as the need to replace the existing earthquake-vulnerable stock.

“The global economic downturn may result in a slowdown of some luxury residential projects in the coming years, but demand from the middle classes is expected to remain strong,” added Mr Alkas.

Alan Robertson, Managing Director of Jones Lang LaSalle Turkey, said, “The global economic slowdown has caused a modest correction in residential prices but on the whole Istanbul’s residential sector is proving more resilient compared to other major cities around the world.

“The population is projected to reach 14.5 million by 2015, creating an estimated 1.18 million extra households and this potential growth means that major developers are continuing with large residential projects.

“The city’s combination of size, scale and location, strategic commercial position as well as strong retail market will also enhance the residential sector’s potential over the long term,” he added.

The Turkish Government, keen to encourage foreign investment, has already reformed aspects of the property buying process to make it more transparent and appealing to investors.

Currently, the lack of an efficient mortgage funding infrastructure has caused an imbalance in the residential market. However, the mortgage market in Turkey is still in its infancy and shows strong potential for growth.

The appeal of investment property in Istanbul is also set to increase as the city moves towards being crowned European Capital of Culture in 2010.

Apartments and townhouses across the most popular residential and historic areas of the city have seen up to 20 per cent growth year on year until now.

The World Travel and Tourism Council predicts that tourist numbers will continue to rise, so rental potential on a property in Istanbul looks set to be strong.

The Government has pumped huge amounts of money into improving transport and infrastructure, which will attract more international tourists and investors.

With the European Capital of Culture tag fast approaching, Istanbul is busy improving its cultural offerings.

The local museums are now geared towards promoting the city’s European heritage, such as the installations by contemporary Turkish artists at the Istanbul Modern Museum.

There are hopes that the European Capital of Culture title will help to progress Turkey’s bid to join the European Union.

In this vein, the Turkish Government is planning to take a number of ‘important steps’ regarding its EU accession process after the local elections at the end of this month, said the country’s Chief Negotiator for the EU membership talks.

Egemen Bagis said, “We are planning to take some important steps, constitutional amendments in particular, regarding the EU in cooperation with opposition parties after the local elections.”

Dubai may see a investment resurgence sooner than expected

Admin — Wed, 05 Aug 2009 15:16:47 +0000

The impact of the world recession on Dubai has been dramatic. This contemporary oasis which was once an inspiration to the world on so many levels has been dealt a heavy body blow losing the proverbial wind from its sails.

The body blow, Dubai can deal with, but the mental scars may last longer. However, with property prices down on average by 30%, there is strong speculation that Dubai will experience a healthy resurgence as monied investors take advantage of the weakened market.

Oliver Hickey Managing Director of Nexus Development Ltd said, “When markets fall as dramatically as Dubai has in such a short period of time there are always speculators that are keen to take advantage and with property prices now attractively priced we will start to witness some renewed interest in Dubai as investors take up the baton. Although this will boost confidence and graphs will fluctuate vertically albeit temporarily, we must still be realistic, these investments will not come anywhere near to the overall investment that Dubai was experiencing this time last year. Prices are still bottoming out; although the general consensus of opinion is that they are near their lowest now. Bit by bit the market will bounce back and by early 2011 I think Dubai will be one of the healthiest property investment markets in the world. ”

The sudden demise of the Dubai property market does have its benefits, although at this stage it is still difficult for many to comprehend. Many of the weaker developers will not survive the transition period of price restructuring over the next couple of years. Already we have witnessed countless projects that have been cancelled or delayed. It’s almost fair to say that there will be a cleansing of the industry and ultimately it is future investors who will benefit from this.

Oliver continues, “As a specialist development consultancy in the Middle East that deals with everything from planning through to final build, we have experienced a high number of enquiries in recent weeks from developers looking for viable options to profit from existing land acquisitions. Our conversion from enquiry to instruction is high and on these figures alone it is clear to see that there is light at the end of the tunnel. The ‘new’ Dubai will offer a more advantageous opportunity to investors on a far more stable foundation.”

Saudi Arabia introduces new off-plan rules

Admin — Wed, 05 Aug 2009 15:15:38 +0000

No longer can off-plan properties be marketed in Saudi Arabia – new rules introduced in the country which ban the promotion and sale of any developments that are at the planning stage aim to cut down speculation in the property sector and build investor’s confidence.

Developers of residential, office, industrial and commercial property are now banned from placing any adverts or promotional material in any publication if their project is still in the planning stage.

Property exhibitions, both local and international, are also banned as is any other form of multi-media publicity. The developers are not allowed to sell any of the properties off-plan either.

Saudi Arabia is desperate to avoid the boom and bust situation which often occurs as a result of over active speculation in a property market. Dubai is the prime example of this – speculation in the emirate has seen prices fall by as much as half in some areas over recent months.

Dubai had barred off-plan speculations on properties a while back in an attempt to eliminate the boom and bust scenario.

The Saudi authorities are also concerned that international investors have been put off buying property in the country as they thought they may be exploited, so these new rules were introduced as part of a series of measures to protect buyers.

There is also a new committee in place which will be responsible for examining applications for real estate development.

The new property measures will be presided over by the committee, which will include representatives from the ministers of Commerce and Industry, Municipal and Rural Affairs, the Saudi Arabian Monetary Agency and the General Commission for Housing.

The property committee will now have the final say on whether an individual property can be marketed and developers will have to apply to the committee before being able to go ahead with any project.

Billionaires back to the Big Apple

Admin — Wed, 05 Aug 2009 15:14:38 +0000

Despite losing more than a fifth of its billionaires as a result of the credit crunch, New York City is once again home to more billionaires than any other city in the world, forcing last year’s winner Moscow into second place.

Forbes’ annual richlist of the world’s billionaires has been dramatically reduced this year, with a mere 793 of the deep-pocketed darlings still in evidence.

At the beginning of last year, before the credit crunch had really got its teeth into the money markets, there were 1,125 billionaires living it up all over the world, mostly in Moscow.

This year, the non-stop New York has stolen the ‘most billionaires’ title from the Russian capital, despite having lost more than a fifth of its wealthiest people – NYC now has 55 billionaires rather than the 71 it had in 2008.

On average, the world’s billionaires have lost 21 per cent of their net worth, which is now £2 billion.

Since the collapse of Lehman Brothers last September, many Wall Street types have lost cart loads of cash – News Corporation Chairman Rupert Murdoch has dropped off the list, along with former Citigroup Chairman Sandy Weill, whose shares have lost nearly all of their worth.

Private equity billionaire Stephen Schwarzman has lost £2.7 billion in the past year alone.

Those who were still clinging onto their places on the list included Bill Gates, who, with his £27.4 billion fortune, recaptured the title of world’s richest from Warren Buffett whose fortune fell to a measly £25.3 billion. Even though Bill took the title, he has still lost £12.3 billion over the last year.

Third place remained the same as last year, going to telecom tycoon Carlos Slim with £24 billion.

Despite the number of billionaires falling in New York, last year’s winner Moscow was hit even harder, losing 47 of its wealthiest residents due to falling property and oil prices.

São Paulo, which took ninth place, is the only South American city in the top 10. The US has more cities in the top 10 ‘most billionaires’ list than any other country - New York, Chicago, San Francisco, Dallas and the ‘city of Angels,’- Los Angeles.

Philippines property receives tourism and tax break boost

Admin — Wed, 05 Aug 2009 15:13:28 +0000

British tourists are among a growing band of people of other nationalities outside Southeast Asia who are discovering the Philippines as a new holiday destination.

John Scott, from hotel investment specialist Asset Property Brokers, said: “Tourism is growing in the Philippines thanks to a combination of natural beauty, friendly culture and highly competitive costs.

“But this success has led to a shortage of high quality accommodation.

“To address this, the government has embarked on measures to increase overseas investment in the hotel industry, including investor tax breaks in its tourism economic zones.”

The nation archipelago, with over 7,000 islands, is already popular with tourists from surrounding countries such as Korea, which in 2008 contributed 19 percent of total visitor numbers, Japan with 11 percent, and China providing 5 percent, according to the Philippines Department of Tourism.

During 2008 there were 87,422 visitors from the UK, representing an increase of 10 percent compared to the previous year. But this growth was outstripped by those from the Middle East, India and the Russian Federation. The number of Russians increased year-on-year by a staggering 34 percent – the highest, while visitors from the UAE grew by 29 percent and from India 14 percent.

Asset Property Brokers has properties available at Blue Coral Resort and Spa, Mactan Island, within 30 minutes of Cebu airport, the Philippines’ second busiest airport. Among many attractions the island boasts reef diving, golf and powder white sand beaches.

John added: “Mactan is one of the first areas to benefit from tourism economic zone tax breaks, with 12 percent VAT removed. Also the increase of tourists from new markets means less reliance from a few sources, reducing risk and helping to boost future occupancy rates.”

The five star beach resort offers 140 properties, ranging from £63,425 studios to £182,750 three-bedroom poolside villas.

The resort has a guaranteed 80 percent occupancy level, on a rolling five year contract, providing returns of 14.4 percent to 20.9 percent, depending on the property type. Guaranteed 60 percent non-status developer finance is available. Owners are entitled to 20 percent or around ten weeks’ free stay a year.

Latvian real estate market dropped in 2008

Admin — Wed, 05 Aug 2009 15:12:12 +0000

During the last year the real estate market experienced a sharp decline in prices – the price decline was observed in all real estate sectors.

The sharpest decline was observed in apartment prices because the average monthly fall of these prices was 4-8%. The total apartment price decline from the beginning of 2008 was 35%. Also the number of apartments supplied has been changed during 2008 – this number has been reduced both in Riga and Riga District. This trend may be explained by the difficulties of sale of apartments in the market which is influenced both by the economical situation in the country and the apartment price decrease. It has led to a significant increase of rental objects, which resulted in declined rent rates, especially in the second half of the year.

A price decline has been observed also in the sector of single-family private houses in 2008, which was associated both with the low activity in the real estate market and the sufficient number of dwellings in the market, having been built mostly in the previous year. In 2008, the prices of private houses decreased by 40% in average.

The land market has been relatively inactive in 2008, with significantly fewer transactions; also the number of land offers has been relatively small. The prices of land intended for private building in Riga decreased in 2008 by 34% in comparison with the previous year, but the prices of land plots intended for commercial building and with developed design decreased by 20-30%.

As to retail space, no one new shopping centre was commissioned in Riga in 2008 but, from the other side, construction of shops was extended throughout the whole territory of Latvia. Throughout the year the number of rental objects offered increased and the transaction volume decreased; therefore, the retail space rent rates continued to decrease, and these rates at the end of 2008 were by 31% lower than the rates of the previous year.

During the press conference devoted to the market overview, Mr. Māris Laukalējs, Manager of the Valuation Division of “Arco Real Estate”, came up with the proposal to municipalities to purchase real estates and not to plan construction of new houses. It should be mentioned that the specialists of “Arco Real Estate” do not forecast any development of new housing, in view of the construction costs compared with the apartment prices and their still existing trend to decline.

CEE markets weaken in all countries and sectors at end of 2008

Admin — Wed, 05 Aug 2009 15:10:28 +0000

Across Central and Eastern European markets vacancy is on the up, rents are stalling or falling and new supply is being mothballed on the back of weak markets and reduced availability of development finance.

The extent to which this is happening differs markedly by country and market sector.

- At the end of 2008, the total office stock in Prague exceeded 2.4 million sqm as 332,000 sqm of new supply were delivered since the beginning of the year. By the end of 2008, the vacancy rate had reached 9% compared to around 6% at the end of 2007.

- In Hungary, the total area of speculative and built-to-suit industrial property came to 1,376,000 sqm at the end of 2008, of which 940,000 sqm was speculative and 436,000 sqm was built-to-suit. Of this, 234,000 sqm was vacant (17.0%). Year-end 2005-2007 vacancy figures were between 9–12%.

- The total volume of modern retail space in Poland is approaching 6.7 million sqm. Just over 500,000 sqm of leasable area in new projects were developed in 2008. The trend of developers directing their interest towards smaller cities continued in 2008.

- The stock of industrial space in Bucharest and its immediate surroundings increased by 42% in 2008, taking the total stock to 880,000 sqm. Total deliveries amounted to 350,000 sqm in 2008 compared to 45,000 sqm in 2007.

- In 2008 the total number of hotel rooms in Moscow grew by ca. 3%. Around 1,000 new rooms entered the market, which is 50% less than was announced in 2007. In 2009 we expect a supply increase of 2.5–3%, mainly in the four- and five-star hotel segment, meaning that the upscale segment will reach its saturation point.

- By the end of 2008 the total stock of modern office space in Bratislava was 1,162,370 sqm, of which 93,034 sqm (60%) was Class A. Almost 135,000 sqm of Class A office space was introduced to the market, increasing Class A stock by 25%. The collective result of so much new space led to the vacancy rate increasing from 6% to almost 9% as all new space was not let.

- In Ukraine, a sharp decrease in demand along with new office supply coming into the market, a mass-refusal of pre-let agreements and an increasing number of sublease offers in 4Q resulted in a vacancy rate at the end of 2008 up to 17.0–17.5%. This is a significant increase compared to the 2% vacancy registered at the beginning of the year.

These are just a few of the market facts found in the recently released Colliers 2009 Real Estate Review of Central and Eastern Europe. Covering the Czech Republic, Hungary, Poland, Romania and Slovakia, as well as Russia and Ukraine, the report provides facts, figures and analysis of sales transactions, new development projects and investment activity, as well as occupancy and rental rates in the office, retail, logistics and lodging sectors. Case studies of significant transactions are presented to illustrate activity in the region. In addition, legal and tax overviews are provided for each country.

“The CEE countries are now feeling the effects of the worldwide recession,” says Damian Harrington, Colliers International regional research director, New Europe. “But it’s important to remember that the region is not monolithic. Each country has its own strengths and weaknesses. All CEE countries will bounce back as the general economy improves, some sooner than others. The implications for occupier markets and thus real estate investment pricing in the meantime are significant. This overview will help anyone involved in commercial real estate in the region better understand what is happening — and more importantly, what we at Colliers International expect to happen.”

No Related Post

Analysts agree Australian property market is solid

Admin — Wed, 05 Aug 2009 15:08:53 +0000