The growth of the Real Estate market in Dubai is largely protected from whatever fluctuations might occur in oil prices based on short and medium term. In fact, it is estimated that higher prices will only spur on the growth to higher speeds. The value of some of the Real Estate projects in GCC, Iran, and Iraq has already crossed $750 billion. Nearly 33% of this is concentrated in the United Arab Emirates with Dubai contributing the maximum. This figure is higher than the combined GDP in the same region, which is lower than $700 billion. According to expert estimates this trend will continue despite the fact that the oil prices are expected to fall in the short and medium term.
Dubai is among the leading choices for people who wish to invest in foreign Real Estate. The most progressive of the 7 parts that make the United Arab Emirates offers excellent investment opportunities. The UAE is only 6 hours flight time away from Germany. A short trip and you are in a land of sun and progress. Dubai is a place with an economic growth rate of 6-8%, a 50% budget surplus, excellent architecture, modern infrastructure, and a booming Real Estate and construction industry. No other place in the world has the sort of Real Estate market similar to Dubai.
Brad pitt and Angelina Jolie have reportedly invested in Dubai’s The World offshore development. According to sources in Dubai, the Pitts have bought an artificial island of their own to “encourage people to live a greener lifestyle,” *chokes on his coffee*. Why they can’t just coma out and say, “we want to make money investing in international property ,” is beyong us.
Ups:
A slow down in construction has led to buying opportunities. From the Financial Times.
A couple transforms a building on the Greek island of Poros. From the New York Times.
Spain’s soaraway property market has ended its decade-long boom, new figures show, with prices falling for the first time in many parts of the country.
In the country as a whole, prices inched up by just 0.3 percent in the third quarter of the year, the smallest increase since 2000. But prices fell in 13 of Spain’s 50 provinces, including many popular with British homeowners.
Wander around Kuala Lumpur, in the shadow of the mighty Petronas Towers, and it’s clear that Malaysia, which celebrates half a century of independence this year, is going places. You can forget those colonial images of mile after mile of sleepy rubber plantations; five years from now Malaysia will be importing rubber from Thailand. In KL, the capital, in particular, there is a prosperous, fast-growing middle class needing property. But Malaysia also has a Second Home Programme, aimed at people from overseas thinking of retiring to the country.
The amount of speculation driving the real estate market in Panama City is breathtaking. Literally, I sometimes gag when I hear the kind of numbers floating around this place. The amount of money being spent is unfathomable, and for what? No one’s actually getting anything? These are all condos that won’t be built for months, sometimes even years! I can honestly say that I’ve never seen, maybe with exception of the Beanie Baby craze, so many people putting down money and reserving a product that doesn’t yet exist.
According to Treehugger, this innovative green skyscraper is “to be constructed” in Dubai. Come on guys, ckeck your facts. This is a design proototype that is unlikely to get off the ground. Here is the official press release:
Home buying for most people is one of the largest financial transactions they will undertake in their lifetime. Although you may own a house in your own country, buying a property in a foreign country is quite a different matter. Many people, who would like to purchase property in Greece, find that the Greek real estate market can be a mind-boggling experience. At first the property purchasing process seems to be a very complicated one. Approaching the problem of buying a property step by step shows that it is not that hopeless.
More on Buying Property In Greece: 10 Top Tips to help your house purchase go smoothly
The myth of bankruptcy and foreclosure is simply that bankruptcy stops foreclosure. Closer examination reveals that this may not be entirely true. Bankruptcy is a serious action to take to stall a foreclosure that will have long lasting ramifications.
