For those who managed to avoid losing their shirt in the Spanish property market, or investing in Dubai’s real estate bubble, another possibility seems to be floating on the horizon – maybe. Cambodian Prime Minister Hun Sen on Friday urged the Ministry of Land Management, Urban Planning and Construction to expedite the drafting of new rules that would permit foreign ownership of property in Cambodia.
More on Cambodia consider new laws for foreign property investors
The U.S. real estate market is either showing signs of recovery or continues to melt down to new and ever more frightening lows, depending on what you read and who is writing it.
The Standard & Poor’s/Case-Shiller National Home Price index released data for the first quarter of 2009 this week showing that overall home prices in the U.S. fell by an average of 19.1%, the largest drop in a single quarter in the 21-year history of the index itself.
Just as it appeared that new construction starts for personal residences were beginning to stabilize in the U.S. (as evidenced by very small increases In March and April as opposed to severe decreases in the 12 months before that), commercial real estate starts plunged in both months, taking new housing construction for April to an historic low.
With more financially distressed property on the market than you can shake a stick at, real estate auctions seem to be the best way of moving excess inventory, and will hopefully give some idea as to current market prices in the UAE. At the moment it is anyone’s guess. Sherwoods are organizing an auction of some 50 properties in the UAE in June. Their press release is below:
If you are looking to buy investment properties in the United States you might want to consider narrowing your focus to a niche segment of the U.S. real estate market. The ‘kit home’ was an outgrowth of the Arts & Crafts aesthetic movement of the late 1800s and early part of the 20th century.
More on Buying Arts & Crafts Kit Homes As Investment Properties
Some time ago, we suggested that Dubai’s property bubble was about to burst. A recent Dow Jones report suggest that time has come. A six-year real estate boom in Dubai that spurred a $475 billion building frenzy has ended, according to agents who say sales are collapsing amid fears that the global economic downturn will hit the sheikdom.
A strong economy and interest from foreign investors seen fueling demand in Phnom Penh’s property investment market
With foreign investors eyeing a piece of Phnom Penh’s property pie, the Cambodian capital’s real-estate market has potential for growth this year, a survey by Agency for Real Estate Affairs (AREA) shows.
AREA president Sopon Pornchokchai said land prices in Phnom Penh range between Bt200,000 and Bt300,000 per square metre.
Mumbai has been a hot property destination for real estate, and continues to be so, attracting big builders and developers not just from India but also from international locations. Mumbai’s real estate has redeveloped many parts of the city, by demolishing old buildings and replacing them with mixed developments of business, shopping and living space.
The city’s real estate prices have out weighed that of Manhattan making it one of the major real estate market of the world. The real estate market of Mumbai has boomed over a few years due to the interest of large Corporate Houses and investors especially from abroad. But the growing number of M.N.Cs along with other industrial sectors and their huge expansion plans has pushed up the demand for office spaces and commercial units. This has also sky rocketed the real estate prices and rents across the city. The office rents of Mumbai are the second highest in the world. By the end of this decade, the requirement of the office units is estimated to increase immensely. The base will continue to shift from south Mumbai to the western and central suburb. The reason being easy accessibility of the land, better infrastructure, proximity to the Airport and major highways as well as affordable prices.
In the residential segment, the increase in per capita income of an average Mumbaikar has motivated him to opt for a better lifestyle . In recent years, there has been a significant boost in the number of the residential projects offering lucrative packages. However, they have not achieved much success in attracting buyers due to the non- affordable prices. This has led to a discord between the buyer and the seller which needs immediate attention.
