Overseas Property Investment Blog from Azure Overseas

German Property Price Rises Expected to Decelerate

2012-08-25T03:53:00.000-07:00

Property prices in Germany are expected to continue decelerating as the economy is slowing down. During the second quarter of this year the hedonic house price index fell by 2.65% compared to the previous quarter after showing a rise of 2.8% in the third quarter of 2011, of 2.7% in the fourth quarter, and of 3.9% during the first quarter of this year. In June this year the average price of an

New Zealand House Sales up 20% on Last Year

2012-08-19T04:51:00.000-07:00

Latest figures from the Real Estate Institute of New Zealand show how sales rose in almost every region of the country in July 2012, increasing nearly 20% compared to a year ago. Their data shows there were 5,907 unconditional sales in July, an increase of 19.9% compared to the same month last year, but a fall of 3.7% compared to June. In June the national median house price reached a high of $

Property Prices in China Begin to Rise Again

2012-08-12T06:37:00.000-07:00

The average price of housing in 70 cities in China increased in July for the second straight month leading to speculation that property prices have already bottomed out. However experts feel the government is unlikely to let prices rise to much, and will act to curb any return to speculative buying. Data provider China Real Estate Index System surveyed real estate firms and property developers

Latest Figures Show New Home Sales Increased in Australia

2012-08-05T11:22:00.001-07:00

The latest figures for June show sales of new homes in Australia increased for the second month in a row, according to the Housing Industry Association. Their report showed an increase of 2.8% in June which is being attributed to a 15.7% increase in the sales of multi-units. In contrast the sales of detached homes grew by just 0.7% in June having declined by 2% in May. The chief economist

American Housing Market Turns Again

2012-07-28T06:57:00.000-07:00

It was fun to get swept up in the reports that the US housing market had bottomed, and indeed that is what mounting evidence seemed to suggest. However, the latest round of data has really knocked the stuffing out of any hopes that we are in recovery. The Commerce Department found that new build home sales fell sharply in June. According to the report signed contracts to buy new homes fell 8.4%

Mumbai Property Market Grinds to a Halt

2012-07-21T03:18:00.000-07:00

According to the latest Knight Frank report, the property market in Mumbai is seeing low levels of activity. There are fewer apartments and homes being put on the market as sellers wait for conditions to improve. Buyers are also being put off by increases in building costs, and some of the better neighbourhoods are seeing vacancy rates as high as 48%. Between 2011 and 2012 just 45,000 apartments

Foreign Investors Losing Love for Singapore, or Maybe their Bottle

2012-07-15T07:19:00.001-07:00

Singapore is seeing fewer foreign investors, and this is at least partially due to the stamp duty recently imposed on overseas buyers. Developers who are willing to absorb at least part of the stamp duty are continuing to see sales. The increase in stamp duty was one of several measures imposed by the Singapore government in order to curb sales to foreign investors as there work concerns

Draft Mortgage Law Approved in Saudi Arabia

2012-07-04T02:30:00.000-07:00

A draft mortgage law has just been approved in Saudi Arabia, and will allow mortgages to be sold in the kingdom. It is hoped this will help address one of the most critical issues in the Saudi Arabia which is the shortage of housing. Saudi Arabia is a country of 27 million people, and the majority are under the age of 30. There is a huge lack of affordable housing, and limited finance options to

Demand for Homes in US Rises More Than Expected in May

2012-06-30T05:45:00.000-07:00

The demand for new homes in the United States increased more than expected in May, and mortgage rates have dropped, helping boost the residential property market. This is just as well as other parts of the economy are cooling. Purchases for May reached an annual rate of 369,000, which is the highest since April 2010 and is 7.6% more than the previous month. The number of houses on the market is

Canadian Residential Property Sales Declined in May

2012-06-23T01:57:00.001-07:00

Canadian residential property sales declined last month, and were down by 3.1% compared to April, according to data from the Canadian Real Estate Association. This is the first monthly decline since the beginning of the year, but activity levels were still slightly above the five and 10 year averages for May, showing the housing market is still in reasonable shape. The average price for a house

Property in South-East Asia Set to Boom

2012-06-15T02:12:00.000-07:00

According to Jones Lang LaSalle, the property markets in Southeast Asia could begin to boom. The firm believes there are several factors which will influence the markets, including growing affluence and urbanisation in these countries, which will result in an increased demand for housing as well as commercial property and infrastructure. In addition this should lead to increased tourism both

Danish Property Market Could Get Worse Before It Gets Better

2012-06-11T14:42:00.000-07:00

The property market in Denmark could get worse, as property values are dropping, the jobs market is growing, and private levels of debt are high. House prices in Denmark have declined by 25% since their peak in 2007, and the government has predicted prices will fall by a further 5.5% this year. In March, property values fell by an annual rate of 8.6%, according to Statistics Denmark, so at

Peruvian Property Market Continues to Perform Strongly

2012-06-01T08:09:00.002-07:00

The property market in Peru has been performing strongly for a couple of years, and this is largely due to strong economic growth in the country. In 2010 GDP grew by 8.8%, while in 2011 it grew by 6.9%. According to figures from Peru Tinsa, the average price of homes sold in the Lima metropolitan area increased by 19.9% last year to reach $99,449. Residential sales increased by 52.2% in 2011

Property Prices in the Ukraine Rise Unexpectedly

2012-05-27T02:57:00.001-07:00

Property prices in Kiev, the capital of the Ukraine rose unexpectedly during the year ending April 2012, but experts are doubtful as to whether this increase is sustainable, especially as the economy is slowing down. During the last year the average price of an apartment in Kiev increased by 28.9%, but is still 30% less than the peak of the housing boom in 2008. In November last year property

Property Investors Becoming Increasingly Interested in Italy

2012-05-20T06:01:00.000-07:00

According to a recent report, property investors are becoming increasingly interested in purchasing homes in Italy, and the current climate is especially good for British investors due to the strength of the pound against the euro. Last year Umbria and Tuscany were especially popular amongst international buyers, and the regions saw increased activity. Most of the buyers were from the Eurozone

Hong Kong Property Market Looks As If It's Cooling

2012-05-13T02:25:00.002-07:00

It looks as if the Hong Kong property market is cooling, as the government recently sold land for less than the estimated value, in spite of it being in one of the most exclusive areas in the city. The 42,000 ft.² of land is situated near Repulse Bay Road, and was sold for HK$1.67 billion, although estimates had expected the land to be sold for HK$1.68 billion. It's likely low-rise apartments

Residential Property Sales Accelerating in New Zealand

2012-05-07T02:10:00.002-07:00

The rate of residential property sales in New Zealand has been accelerating over the last four consecutive quarters, as during the second quarter of last year, sales increased by 7%. By the following quarter this had increased to 18%, and during the final quarter of last year property sales grew by 22%. This rate of growth has continued into the first quarter of 2012, with sales growing by 29%.

Now is a Great Time to Buy Property in France

2012-04-29T06:14:00.001-07:00

According to French estate agencies, now is the perfect time to by property in the country. Prices have fallen by as much as 40% in some areas and are now at very realistic levels. Property prices have stabilised over the last few months, and the lower end of the market is especially buoyant. This makes it an excellent time to buy holiday homes, or even permanent homes for those looking to

Sales of Family Homes in London are Recovering

2012-04-21T07:36:00.003-07:00

According to the latest quarterly report from Winkworth estate agents, sales of family houses in London are undergoing something of a revival, as sales appraisal figures increased by 7% year on year during the first quarter of 2012, and more homeowners are becoming interested in testing the market. The number of new sales instructions increased 20% year-on-year during the first quarter of 2012

Foreclosure Figures Fall in the US

2012-04-07T07:31:00.001-07:00

Foreclosure figures in the United States have declined slightly, and this trend is expected to continue as the spring season picks up pace. According to figures from CoreLogic, there were 65,000 completed foreclosures in February compared to 66,000 in February last year, and 71,000 in January 2012. Since the financial crisis began in September 2008 there have been around 3.4 million completed

British Virgin Islands Feel Little Impact from the Global Economic Crisis

2012-04-01T01:20:00.001-07:00

The British Virgin Islands have seen little impact on property prices from the global economic crisis as prices of luxury property have remained largely unchanged in recent years and are expected to continue to hold up well. This is partially due to the nature of the market, as the British Virgin Islands consists of around 50 islands and islets, and due to strict planning regulations, there is

Japan's Property Market Set for a Boost from Echo Boomers

2012-03-27T05:45:00.001-07:00