If you thought Moscow property prices couldn’t go any higher – well, they just have! Apartments in the centre of the city are being sold and rented at prices which would appear to defy all reason – except that Moscow is a city, now, of extraordinary wealth.

The average price of an apartment rose to US$16,363 per sq. m. in prime Moscow districts in Q3 2006, according to Knight Frank, Moscow. Re-sale apartment prices rose 62.8% in the three quarters to Q3 2006. Newly built apartment prices rose by 79% in the three quarters to Q3 2006. A small three-room apartment (60 sq. m.) in central Moscow is now worth US$1 million. First-class apartments can command twice that or more – US$30,000 per sq. m. and up is not unknown.

Property is not all that’s booming.

Read the rest of the article here:

Moscow just keeps on booming!

Yields are falling in Russia, but still high

Pro-tenant rental market in Russia

Buying costs are high in Russia

High, flat taxes for non-residents

Reclaiming the Superpower status

The rental returns from letting residential condominiums in central areas of Metro Manila range from 8% to 15% yearly, according to a survey just released by the Global Property Guide.

“The pattern is unusual,” says Matthew Pollock, publisher of the Global Property Guide. “Instead of a smooth progression from high yielding units to low, we have high to low with high-yielding ‘ridges’ or ‘lumps’ at particular apartment sizes – which correspond to the smallest case of a particular number of bedrooms.”

full article here:

Philippines: High Yields on Metro Manila Condominiums 

filed under: real estate, real estate asia

In the UK, there are at least three top companies which spew out in-depth reports and  forecasts on real estate and housing trends. These are Halifax, Nationwide, and Hometrack. Halifax said that the average home in the UK “rose by 9.9% last year to reach £186,035. They have also predicted a further rise in 2007 of 4%.” Nationwide stated that it “rose by 10.5%, in 2006, to £173,746, and they have forecast a rise of 7% in 2007.” Whereas Hometrack declared that UK homes‘ cost rose by 5.7% last year to £170,100.

Elswhere, the National Association of Estate Agents chief executive Peter Bolton-King predicts that there will be a 5% growth for 2007.

However, The Royal Institution of Chartered Surveyor determine that the prices rose by 8% last year and predicts a further 7% increase for 2007.

This may at some point coincide with reports that UK and the rest of Northern Europe will continue to experience real estate boom. Note, however, that the RICS says that last year housing affordability deteriorated by 14% and a first-time buyer couple would now need to save £32,800 to buy a home.

The bottom line is that experts do not see a double-digit increase on house prices.

Did you find this article useful? Discuss it at Global Property Guide forums!

Costa Rica’s exploding Guanacaste Province (North Pacific Coast), which boasts resorts like the Four Seasons and the future home of a JW Marriott, along with numerous high-end communities, has returned wonderful profits for its land owners. Unlike the central pacific region of Puntarenas, land values in Guanacaste are continuing to grow, and new opportunities still exist. The proof of Guanacaste’s dominance is in the out performance of all other areas of the country when it comes to investment returns, especially in its southern area.

Why Guanacaste is hot

(PRWeb) February 23, 2007 — There aretwo primary reasons why Guanacaste is doing so well for investors, in comparison to other regions of Costa Rica. The first reason is that the real estate is so gorgeous. Magnificent beaches of soft sand, with colors ranging from bright white to pink, and turquoise, green and blue waters are a major draw to the region.

Additionally, in the region of Guanacaste, the mountains virtually drop right into the sea, which creates magnificent ocean view lots, even when miles from the beach. The second reason that Guanacaste is doing so well is that the development of the area has been done responsibly, with much respect paid to the environment. The communities are upscale with many private communities of million dollar homes.

Real estate opportunities

Skyrocketing values in Guanacaste are nowhere near the ceiling. Many times, when a region goes through the type of growth that Costa Rica is enjoying, the appreciation caps out before many investors can get involved. Luckily for today’s property investors, Guanacaste has a plethora of beachfront land that remains relatively undeveloped. This means one very important thing… Ground Floor Opportunities! Investors love them if they are lucky enough to find them, and Guanacaste still has some in its southern region. One particularly well-poised town in southern Guanacaste is Nosara Beach.


Nosara: A gold mine for real estate investors?

If you’re not in the know yet regarding Nosara Beach, you might want to hurry up and get involved there. Nosara, while primarily undeveloped, does have a fun town with plenty of restaurants and shops, plus an airstrip served by two daily flights from San Jose on Nature Air and Sansa Airlines. These amenities alone leapfrog Nosara in front of other potential investment areas. In addition to the airstrip and town are gorgeous white sand beaches, and a giant nature preserve which is home to many rare species. Two rivers keep the area green year-round, while the rivers’ estuary (where fishing is famous), and giant tree-covered mountains which overlook the ocean. The current climate in Southern Guanacaste makes a home site or community an attractive investment.

For the masses of investors who want to jump into owning a property in Nosara, or anywhere in Guanacaste for that matter, it may seem pretty complicated. For this reason, the majority of property investors tend to want pieces of land that are inside of planned communities being developed by companies who can remove most of the difficulties for them. Whether an investor wants to take on the challenges of carving out his own piece of paradise, or wants to go with a developer’s project, Guanacaste is a winner, and at this time, especially in it’s southern region.

via eMediawire

discuss: GLOBAL PROPERTY GUIDE FORUMS

HOW TO PURCHASE A RENTAL PROPERTY 

LANDLORDS, SAVE TIME AND MONEY BY BUILDING  YOUR RENTAL LIKE A TANK

VACANT RENTAL PROPERTY OR BAD TENANTS?

or better yet, discuss them on the Global Property Guide Forums if you like!

The Daily Telegraph in Australia reports that “rents will jump due to a dramatic fall in the number of apartments built this financial year” (courtesy of BIS Shrapnel) and that because of the superannuation law that is due to change in the second half of this year, most properties are being bought by owner-occupiers.

(What is superannuation? Superannuation is a form of savings where money is set aside by you and/or your employer and invested for your retirement. It is generally an ideal way to invest money for your retirement. Many funds also pay benefits if you die, or if an illness or accident makes you unable to work. See Superannuation)

How does this affect Australia’s rental market in general? You can check out the following links to relevant news about the critical situation in Australia’s real estate today:

Australia: Rents to jump for years

Rental crisis deepens

Australia’s rental crisis to get worse, say agents

Peter Ryan reports on Australia’s worsening rental property outlook

Be fair and fix a price for rental properties

More buy into rental market

We are inviting you to discuss this into our growing roundtable, see the GLOBAL PROPERTY GUIDE FORUMS.

Lost between the ins and outs of real estate auctions? Here’s a little primer that might actually help!

What is a Real Estate Auction?
How will auction benefit me?
Benefits to the Seller, Buyer, and Real Estate Agent/Broker

Q. What is a Real Estate Auction?
A. A real estate auction is an innovative and effective method of selling real estate. It is an intense, accelerated real estate marketing process that involves the public sale of any property — most certainly including those that are nondistressed — through open cry, competitive bidding.

Q. How will auction benefit me?
A. The real estate auction is a win-win proposition for everyone involved.

BENEFITS TO THE SELLER:
* Buyers come prepared to buy
* Quick disposal reduces long-term carrying costs, including taxes & maintenance
* Assurance that property will be sold at true market value
* Exposes the property to a large number of pre-qualified prospects
* Accelerates the sale
* Creates competition among buyers – auction price can exceed the price of a negotiated sale
* Requires potential buyers to pre-qualify for financing
* The seller knows exactly when the property will sell
* Eliminates numerous and unscheduled showings
* Takes the seller out of the negotiation process
* Ensures an aggressive marketing program that increases interest and visibility

BENEFITS TO THE BUYER:
* Smart investments are made as properties are usually purchased at fair market value through competitive bidding
* The buyer knows the seller is committed to sell
* In multi-property auctions the buyer sees many offerings in the same place at the same time
* Buyers determine the purchase price
* Auctions eliminate long negotiation periods
* Auctions reduce time to purchase property
* Purchasing and closing dates are known
* Buyers know they are competing fairly and on the same terms as all other buyers
* Buyers receive comprehensive information on property via due diligence packet

BENEFITS TO THE REALTOR:
* Generates a list of ready, qualified buyers
* Offers clients and customers new selling and purchasing options
* Increases revenue and market share
* Develops your own market niche
* Assurance that property will be sold at true market value
* Property is sold within a relatively short period of time
* Exposes the property to many potential purchasers
* Auctions bring people in to look at all your listings, not just the auction listing
* Successful auctions result in referrals and return business
* Agents can earn commissions as referring agent/broker, cooperating agent/broker, or as the listing agent/broker

via Realtor.org

There’s news that the National Real Estate Auction Corp. will host a massive real estate auction in downtown Phoenix next month — offering everything from starter homes to multimillion-dollar estates. This is according to East Valley Tribune.

Although auctions can be a good tool, buyers and sellers need to do their homework, said Brad Wood, an agent with Realty Executives in Scottsdale.

“It’s all about pricing,” Wood said. “Just because you’re buying from an auction doesn’t necessarily mean you’re getting a good deal.”

I totally agree to this. I mean, even when buying property overseas, you need to take your time, listen to different people, and do your homework.

But it’s interesting that competition drives a lot of real estate agents to the heights of creativity — in this case, auctions, which are a bit unconventional. Or are they?

Would you like to post your own announcements? Visit the Global Property Guide forums!

by Global Property Guide team

It’s been known that the Orlando real estate is  undergoing a phase, now that the government of Florida has issued a new insurance law that will take effect beginning the second half of year 2007.

Yahoo Finance reports that “The new law gives a state-created insurer wider latitude to compete with private insurers like Allstate Corp. and State Farm Insurance Cos. in selling homeowners insurance.”

Correspondents from Sun Sentinel state that “The new Florida law allows Citizens Property, whose board is appointed by state officials, to have rates that are lower than those of private carriers, under some circumstances. Previously, Citizens was required to keep its rates as high or higher than the private market. The state’s separate hurricane fund could end up taking on a larger role in catastrophe reinsurance. The U.S. market for property catastrophe reinsurance is estimated at $70 billion to $80 billion, according to the Reinsurance Association of America, and the hurricane fund’s reinsurance capacity was increased to as much as $35 billion.”

There were exceptions to the rule, of course. Just recently, it has been reported that “the Florida Insurance Council is dropping its court challenge to an emergency order that temporarily stops property insurers from dropping policies or raising premiums before provisions in Florida’s new insurance law take effect June 1.

The council acted after Insurance Commissioner Kevin McCarty ruled that insurance companies could proceed with plans not to renew policies for customers who had already been notified they were being dropped. Companies also can resume cancellation of policies when they file their new rates in March, as long as policyholders get 100 days’ notice.”

Consider this as a turning point for agencies and brokerage companies doing business in Orlando real estate. We would like to echo what the correspondents have demanded: Who really should have the back of Americans when disaster strikes?

via:  Orlando Sentinel

Discuss this! Visit the Global Property Guide Forums.

Real estate executives confident in local prospects

The old Soviet cashes in on high real estate prices in Moscow

PA’s Chester County’s real estate market has down year

Optimistic report challenges the correction consensus on Dubai real estate

Home prices fall in more than half of nation’s biggest markets

Estonian real estate market grew about 33% in Q4

Bulgaria’s popularity as ski destination boosted

January statistics released for the Austin real estate market

Feel like discussing these? Check out the Global Property Guide Forum!