Property Investment News Around The World – 10% Guaranteed ROI in Thailand – British Mortgage Approvals at 30 Year low and Eva Longoria’s Love Nest is For Sale

Things do seem to be hotting up in the investment property world, and I don’t mean burning down hot as seen in the recent Australian bushfires. Volatile is the word that comes to mind. As developers and agents try to combat falling prices, we are starting to see some interesting approaches. Most of Manhattan seems to be up for rent at the moment with luxury condominiums in Manhattan completely failing to sell.

A luxury resort in Thailand is offering a 10% guaranteed return on investment for five years. Remembering just how many Brits were stung in the Spanish, Romanian and Bulgarian markets after being enticed by similar offers, I am not sure just how good this deal is. Caveat Emptor.

A developer in Florida is giving away a free Mini Cooper with any purchase of a two-bedroomed loft.

Eva Longoria watering the garden

Mortgage approvals on new homes in the UK have fallen to a 30-year low. Not since 1974 have we seen this few mortgages issued. Only 516,000 were taken out in 2008 which is 49% lower than 2007. According to the Telegraph, Michael Coogan, director general of the CML, blamed the shortage of mortgage funding and reduction in the number of active lenders for the decline. He warned: “This low level of transactions is insufficient for the functioning of an efficient market.” Which is complete garbage. Prices have and are falling, and the simple fact is any market becomes efficient if left to it’s own devices. The unsustainable growth of the last few years has come to an abrupt halt, and will probably never recover. Save your pennies and look out for some decent cash bargains in the British market soon. Cash is king right now.

Speaking of cash, if you have a little lying around, an apartment in Albania was just listed in our free listing site at less than 26,000 Euros.

Meanwhile, if you fancy Eva Longoria’s lovenest (sans Ms Langoria presumably) in San Antonio, Texas, The International Herald Tribune reports that it is for sale.

As usual, the question on everyone’s lips is “Are we there yet?” – “There” being the bottom of the market. There are a few vulture investment funds being set up at the moment, but we are not seeing any activity just yet. Every one seems to be waiting for the commercial property mortgage shoe to fall, so I respectfully submit the answer is “Stop asking that question. For the millionth time, you will know when we get there!”