Overseas Property Investment Blog from Azure Overseas

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

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New Zealand Government Introduces New Bill to Ban Foreign Companies from Buying Rural Land

2012-03-17T07:58:00.001-07:00

The New Zealand government is looking at introducing a new bill into Parliament which would prevent foreign companies from buying up rural land, and is due to controversy over Chinese companies trying to purchase lucrative dairy farms on the North Island. The Chinese company, Shanghai Pengxin had put in a bid to purchase 16 dairy farms in Crafar on the North Island, and this bid had already

New Report Finds Nearly One Quarter of US Homes Are in Negative Equity

2012-03-11T08:42:00.001-07:00

A new report from CoreLogic says that 22.8%, or 11.1 million homes in the US were in negative equity by the end of the fourth quarter last year. This is an increase on the third quarter when 22.1%, or 10.7 million homes were in negative equity. Another 2.5 million homeowners had less than 5% equity during the fourth quarter, which is known as near negative equity. This means the total percentage

Property Prices in the East End Have Increased by £800 a Month since July 2005

2012-03-05T10:38:00.001-08:00

In July 2005 London was awarded the Olympic Games, and now with just five months ago Lloyds TSB has revealed that house prices in the area around the main site have increased by around 30% since London's successful bid. The average home cost £268,884 last November which is an increase of £62,739 since July 2005, equating to a very nice average monthly rise of £815. In comparison homes in

South Korea's Housing Market Is Bouncing Back

2012-02-25T08:51:00.001-08:00

South Korea's housing market experienced something of a revival last year with housing starts and sales figures increasing substantially. Property prices rose by 6.86% during 2011, and the number of housing construction permits increased by 42.2% to 549,594 permits. Apartment building sales rose by 41.8% to reach 285,000 units. However last year South Korea's economic growth rate slowed to just

Florida Remains Most Popular Destination for Online Searches

2012-02-18T05:13:00.001-08:00

Florida is still the most searched for destination by international property buyers looking to purchase in the US. According to residential property site Point2. Florida retained its top spot in the last quarter of 2011 for the second consecutive quarter. Point2 found that Florida accounted for 31.04% of all international searches in the last quarter of 2011, losing just 2% to other states.

Condo Prices in Japan Have Fallen Sharply

2012-02-12T10:33:00.000-08:00

Condo prices in Japan have fallen sharply since last year's earthquake with the average price of new condominiums in Tokyo falling by 7.2% to the year ending November 2011. However the prices of detached homes increased by 2.4% during the same period, and demand for homes has also moved from waterfront locations to safer, inland areas. This is hardly surprising as last March the case of Japan

Myanmar Becoming More Attractive to the West

2012-02-05T09:43:00.001-08:00

Until recently Mayanmar was a somewhat faded Southeast Asian country that saw very few Westerners. This former British colony was ruled for 50 years by a military junta and had a very poor human rights and democracy record which saw sanctions imposed by Western governments. It is now ruled by President Thein Sein, a retired junta general who since coming to office 10 months ago as a civilian

Australian Banks Warned by IMF to Stash Cash

2012-01-30T05:08:00.001-08:00

The main four Australian banks have been warned by the International Monetary Fund to make sure they have sufficient cash reserves to cover any potential downturn in the housing market. The IMF is worried that the Australian housing market may be overheated and that prices in cities are artificially inflated due to a number of wealthy overseas property investors from China entering the market.

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