Europe may have lagged behind the US during the recent credit crisis, but they have caught up now and the effects are starting to be felt in the property markets. For the first time in many years, estate agents are closing their doors and the windows of the remaining agents are littered with hastily dropped prices. Property price movements in France usually lag behind the UK movements and this downturn is no exception.
The latest Knight Frank Global Price Index reveals that growth in residential property markets around the world is slowing. On an un-weighted basis prices globally rose by 8.2% per annum to Q3 2007 compared to 9.6% 12 months earlier. Rising interest rates have been a major factor in slowing house price growth, together with the tightening of lending criteria seen in many European countries.
The US housing market is in a slump, no one would question that, but a slump offers bargains as well as disasters. What was an un-affordable property just a year or so ago, may well now be within reach and many real estate investors are on a bargain hunt at the moment.
Former Federal Reserve Chairman Alan Greenspan said he has “no particular regrets” and that the deepening slump in the U.S. housing market isn’t a result of his policies.
“Markets are becoming aware of the fact that the decline in house prices is not stopping,” Greenspan said today in Oslo. “I have no particular regrets. The housing bubble is not a reflection of what we did, as it is a global phenomenon.”
As a professional overseas property investor, I am only too aware that I am constantly one mistake away from bankruptcy – that’s all it takes – one investment gone awry, one condominium building that didn’t get built, a sudden unexpected drop in the market, a burst real estate bubble, and I am back to washing dishes. Well, maybe not quite that bad – I might have to sell one of the Bentleys, which would be almost as much of a disaster.
FACTS ABOUT BULGARIAN PROPERTIES
Two months after joining the European Union, Bulgaria began attracting increasing interest towards local real estates. Its strategic geographic location and the membership in EU and NATO turn it into an attractive destination for property buyers. For sure, you need to have more information before investing your money into a small country with a beautiful countryside and extremely low prices for Europe.More on Facts about real estates in Bulgaria – the latest European Union member
More on Facts about real estates in Bulgaria – the latest European Union member
Global real estate majors such as Dubai World, the Trump Organisation, Smart City of Dubai, Kishimoto Gordon Dalaya, Khuyool Investments, Bonyan Holding, Plus Properties, ABG Group and Al Fara’s Properties are descending on the Indian real estate market with an investment of around $20-25 billion in the next 12-18 months.
If you’re ready to invest in residential investment property, you are about to set off on a juicy, long-term investment that will bring you big bucks in the years to come – if you manage your money wisely. The first step on your way is to get an investment property loan.
More on Residential Investment Property Loans – Crunching Numbers
All property in Spain should be registered in the Registro de la Propiedad (the land registry), where you can obtain the full details of the owner, the exact size of the property and full details of any mortgages, debts or judgments against the property will normally be registered. Only the persons or company named on the Escritura Publica, the title deed, have the right to sell the property, unless a notarised power of attorney has been given to a third party.
Sun Microsystems co-founder Bill Joy, is selling the massive Manhattan apartment that he bought five years ago – but never moved into. The price? – $40 million.
The apartment, designed by Richard Meier overlooks the Hudson River. The asking price is likely the highest ever for a downtown Manhattan residence, once again proving that whatever happens on the ground floor of US real estate, rarely affects property further up the food chain. Should the Condo sell at this price, Mr. Joy will have more than doubled his investment.
