Overseas Property Investment Blog from Azure Overseas

December Sales of Singaporean Private Homes Hit Lowest Level for Two Years

2012-01-23T03:59:00.001-08:00

Figures for December sales of privately owned homes in Singapore fell to their lowest level for two years after new government taxes came into effect. Just 632 units were sold in December, and total sales for 2011 show a fall of 24%. Experts are not surprised as this result is exactly as they predicted, with potential homebuyers remaining cautious about committing to a purchase as there are

Interest Rate Cut Boosts Australian Property Sales

2012-01-16T06:56:00.001-08:00

Australia recently saw its first interest rate cut in two and a half years, and this has had a positive effect on the sales of new homes which have increased by 6.8% from October to November. Sales of detached properties increased by 9.8% which was mainly due to more properties being sold in New South Wales and Victoria. However the picture isn't quite so rosy for multiunit sales which fell by

Property Prices of Miami Condos Increase for the Fourth Consecutive Month

2012-01-07T03:53:00.001-08:00

Figures from the Miami Association of Realtors show prices of condos have increased for the fourth consecutive month, and overall residential property sales look set to have ended the year on a high. Sales of previously owned single family homes rose by 11% in November in the Miami metropolitan area when compared to the same month in 2010, while sales of previously owned condominiums increased

Russian Buyers Increasing in Overseas Property

2011-12-12T01:30:00.001-08:00

A survey carried out across several major Russian overseas property exhibitions has found that almost 2 thirds of Russian investors are preparing to complete purchases in the next 6 months. The results of 3 surveys carried out at major aiGroup property investment shows found that 71% of Russian investors are planning on completing their purchases in the next six months. Kim Waddoup, chief

US Contract Cancellations Increase, but Sales Figures Are up

2011-12-04T03:21:00.001-08:00

Sales figures for residential property in the US are up, in spite of contract cancellations increasing substantially. Latest data from the National Association of Realtors shows sales of single family homes, townhomes, condominiums and co-op's increased by 1.4% in October to 4.97 million, compared to 4.9 billion in September. Year-on-year sales have increased by 3.5% compared to 4.38 million

Britons Account for 29% of International Sales in Turkey

2011-11-25T08:23:00.001-08:00

The latest Turkish Land Registry Office data shows Britons now account for an incredible 29% of foreigners purchasing property in the country, with the Germans accounting for 23% and Greeks accounting for 9% of international buyers. According to experts most of these buyers will use their own national currency in which to invest in property, and apparently this isn't always the wisest choice.

Spanish Property Prices Are Still Falling, but the Costas Are Perennially Popular

2011-11-20T10:34:00.001-08:00

Property prices in Spain are still declining, but the Costas have always been popular with international buyers and prices in these regions are seeing lower price falls. According to Tinsa, who is one of Spain's leading appraisal companies, prices have fallen most in regional capitals, and have declined by an average of 8.1% to the year ending in October. Prices in metropolitan areas have

Moscow Rated As Top City for Property Investment

2011-11-12T04:40:00.001-08:00

London has lost its number one place as being the most attractive European city for property investment, according to the latest annual European Regional Economic Growth Index report from LaSalle investment. Apparently Moscow now has greater potential. Even so the report believes that medium-term demand for European property will remain high in major cities that have high levels of wealth such

Australia's House Prices Fall for the Third Straight Quarter

2011-11-02T07:37:00.001-07:00

Property prices in Australia have fallen for three straight quarters due to increased borrowing costs, but there are signs this decline could be bottoming out as September marked the smallest price decline in seven months. Homes in capital cities fell by just 0.2% while regional home values increased by 0.1%, and experts think the trend of downward prices may be reversing. House prices in

Foreign Buyers in Singapore Increase by 16%

2011-10-29T07:11:00.001-07:00

According to government figures, the number of foreigners owning private property in Singapore has increased by 16% during the first six months of this year, compared to an increase of just 12% for the whole of last year. Some people are concerned that locals may be out priced by foreigners from the housing market, but the National Development Minister Khaw Boon Wan has pointed out that locals

US Homebuyers Struggle to Find Their Dream Home

2011-10-23T06:56:00.001-07:00

The US housing market is now encountering a new problem, as after years of oversupply in the market now has a dearth of attractive properties for sale. At the end of September there were just over 2.19 million homes for sale, according to Realtor.com, which is a reduction of 20% on September 2010, and although on the face of it are falling inventory should be a good thing as it increases

Oman Property Market Is Doing Well, Buoyed up by Economy

2011-10-16T01:49:00.001-07:00

The property market in Oman is doing pretty well according to a new survey from Cluttons. This is mainly due to the recovering economy and high oil prices, and the private sector has employed 20.7% more people between 2008 and 2010, leading to increased demand for properties. Oman was hit by the global recession, but now the economy is expected to recover nicely, and government income has grown

Construction Spending Unexpectedly Rises in the US, but the Housing Market Remains Flat

2011-10-07T07:54:00.001-07:00

Spending on construction rose in August due to an increase in state and local government spending, giving a 1.4% gain which reversed the 1.4% loss in July. The construction industry is also up 1.4% compared to July 2010 which is its first positive reading of the year. Building of multi-family homes such as townhouses and apartments has increased, which is greater evidence of how the housing

Norwegian Homes Are the Greenest in the World

2011-09-30T12:33:00.001-07:00

Research by the Royal Institute of Chartered Surveyors has shown that Norway is the top country in the world for reducing carbon emissions in the built environment. Brazil is second, while the UK comes in third, but apparently there is still considerable room for improvement. Australia and China come in fourth and fifth, but Russia Luxembourg and Canada are bottom of the list, with Greece and

Home Sales in California Increase in August

2011-09-24T05:53:00.001-07:00

The number of home sales in California increased by 8.8% in August compared to July, and by 10.2% compared to August 2010, and all in all an estimated 37,734 homes were sold throughout the state. The average number of sales for August is 48,344 according to DataQuick who has been keeping statistics since 1988. Sales reached an all-time low in 1992 with just 29,764 homes being sold and an

Israelis Protest over Rising Property Prices and Rents

2011-09-17T07:35:00.001-07:00

Israelis have been protesting over rising property prices and rents since mid-July, and although the initial protest began in an upmarket section of Tel Aviv, it has now spread to Jerusalem, Haifa and Beersheba. Property prices here have increased by around 40% during the last three years, and this is partly due to the fact that planning and construction here is extremely slow. Property prices

Malaysians Taking Advantage of Exchange Rates to Buy up Properties Abroad

2011-09-10T06:17:00.001-07:00

Malaysians are taking advantage of favourable exchange rates to buy properties abroad, especially in Britain and the United States where the value of sterling and the dollar has declined over recent months. Apparently several major estate agents who market international properties have noticed the number of Malaysian buyers has been increasing steadily over the last three years, with figures

More Signs of Possible Stabilisation in US Housing Market

2011-09-05T04:33:00.001-07:00

Residential property prices in the US decreased to the year ending in June, but prices are now falling at a much slower pace, leading to hopes that the market might be stabilising. The Standard & Poor/Case Shiller index fell by 4.5% from June 2010, which is slightly less than the 4.6% decline in values predicted by economists. Values dropped by 0.1% in June which is the same percentage decrease

Now's the Time to Buy Property in the US

2011-08-27T03:53:00.001-07:00

According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, affordability in the United States is now at a 20 year high, with an incredible 75% of homes in the country being affordable to families earning the national median income of $64,200. Even though homes are affordable to the majority of the population, and interest rates are at an all-time low, and the

Increased Interest from Wealthy Europeans Looking for Holiday Homes

2011-08-21T01:09:00.001-07:00

Apparently more wealthy Europeans are looking for property overseas, especially those from the Netherlands, Norway and Germany. This is quite a change as previously the market has been dominated by Asian and Middle Eastern investors. An international real estate search agency, Quintessentially Estates has seen an increase of 50% on searches compared to the same time last year. They feel that

Foreign Investors Buy $82 Billion Worth of US Property Year-On-Year

2011-08-12T08:11:00.001-07:00

In the 12 months to March, foreign purchasers bought $82 billion worth of US property, which is an increase of 24% on the previous year, according to figures from the National Association of Realtors. Canadian buyers accounted for 23% of these sales, with China accounting for 9%, while the UK, Mexico and India all accounted for 7% each. Brazilian and Argentinian buyers, if counted collectively

EasyJet Gives Boost to Holiday Homeowners in Spain

2011-08-06T08:15:00.001-07:00

Low-cost airline easyJet has just announced a new programme of 20 new flights to Europe from Southend International airport in Essex, with five of those flights going to the Spanish Costas. The new flight schedule is due to take effect in April 2012, and fares could cost as little as £26. These flights are bound to be hugely popular as the routes include Malaga, Majorca and Alicante, and should

Increased Demand for US Holiday Homes

2011-07-30T01:50:00.001-07:00

Although house prices in many regions of the US are still falling, the luxury holiday home sector is proving to be far more resilient. A number of estate agents are reporting that they are receiving far more enquiries than they have had for years. It certainly looks like a good time to buy provided you intend to invest for the long term, as property which was once out of reach to many is now

Sellers in Spain told to set realistic prices to achieve sales

2011-07-24T02:52:00.001-07:00

According to a property expert in Spain, people need to be more realistic when pricing their property if they really want to sell. José Luis Jimeno, who is the managing director of Noteges, a property education website feels that many owners of Spanish property have failed to grasp how far prices have fallen here, and he thinks that some sellers may need to drop their price by as much as 50% in

Spanish theme park is set to open sooner

2011-07-16T08:09:00.001-07:00

The new Paramount theme park in Murcia is apparently scheduled to open a year earlier than originally planned. It had been scheduled to open in 2015 but construction plans have been brought forward due to increased interest from foreign investors and the anticipated opening of the new international airport in Murcia. The completion of the airport which will have capacity for 3 million passengers