Real Estate Blog

Investment appeal of the French real estate market

info — Tue, 22 Jul 2008 16:48:34 +0000

France is a favorite vacation spot for tourists from all over the world. it is difficult to meet such variety of vacation spots in other European country.

The basic natural sights of France are represented with the Alps with numerous ski resorts and mountaineering camps, and also beaches of Mediterranean Azure Coast.

According to recent researches of the French government the number of the foreigners, having the second house in France, has reached 300 thousand people.

The total number of investors has made English men - 28 %, Italians - 14 %, Belgians - 10 %, Danes - 8 %, Spaniards and Americans - 3 %.

The researches, which were lead with British Council assistance, have compared by various criteria the immigration policy of 26 states - EU members, and also Canada, Norway and Switzerland.

Fans have broken sale of the house of Bruce Li

info — Tue, 15 Jul 2008 16:47:14 +0000

In May of this year there was information that the house of a legendary movie actor Bruce Li will be sold from auction. Now it has become known, that the house is removed from the tenders.

The matter is that admirers of the actor have developed wide propagation that the house should become a museum.

The owner of the house, 86-year-old Chinese philanthropist Juj Pennjan, proves that many people would like to buy the house and offer good money for it, however, the majority of people considers that the house needs to be become a museum.

Philanthropist has got the house in the property in 1960. Bruce Li rented it and has spent last years of his life in it, down to the death in 1973. Now in a building the cheap motel is arranged. The question on how it will be transformed into a museum will be discussed.

Swedbank has started to give out credits for the real estate abroad

info — Thu, 10 Jul 2008 17:32:10 +0000

Swedbank has presented a new product in the context of hypothec crediting program - the credit for purchase of the real estate abroad on the security of the real estate in Russia.
The bank can give credit up to 70 % of estimated cost of the inhabited real estate, which is available in the property of the client. The credit is given in US dollars or euro for the term of from one year till 25 years.
Rates under the credit deviate from 10 % up to 11,5 % annual (or 1Year Libor + 5 - 1Year Libor + 6) and depend on term of crediting, the form of incomes acknowledgement and the size of an initial payment.
The commission for delivery of the credit will make 1 % from the sum of crediting, but not less than $500 (350 euros) and no more than $2 thousand (1,35 thousand euro). The moratorium on preschedule repayment of the credit is absent; the commission for preschedule repayment within the first 12 months will make 1 % from the sum of preschedule repayment.
In order to receive the credit, the borrower should be at least 21 years old (at the moment of the termination of validity of the credit agreement the age should not exceed 65 years), to have the seniority not less than 2 years, thus he should successfully pass a trial period on last place of work by the moment of drawing up of the application for credit.

About 20 % of Belgium citizens face difficulties with payment for habitation

info — Wed, 02 Jul 2008 15:50:48 +0000

Research of real estate specialists has shown that each fifth inhabitant of Belgium experiences difficulties with payment for habitation.

At those who rent habitation, complexities are connected with the fact that the quantity of offers in this segment of the market has fallen, and demand has sharply risen because of increase in number of lonely people. As interrogation shows majority of the Belgians, renting habitation at private owners, hardly find money for payment.

If to add to them those, who hardly pay housing credits, it will turn out, that the fifth part of the country depends on payment of habitation, but the situation will worsen in the further only in connection with growth of tariffs for energy carriers, and by the end of year it will become a serious problem.

Real estate in Andorra continues to grow in the price

info — Mon, 30 Jun 2008 15:35:54 +0000

The tiny state in Pyrenees has not suffered from crisis in the real estate market, and during first half of 2008 prices for it for have grown on 5 %. Last year the rise in prices on habitation has also made 5 %.
Andorra attracts with the favorable tax laws, first of all, rich people. In this connection, the elite habitation enjoys special popularity. Alongside with it, many foreigners buy Andorra real estate for rest.
In 2007 the price of average apartment made 300 thousand euro. Now it has grown up to 500 thousand euro. Opening in 2010 of the new airport has provoked growth in prices for the real estate in Andorra and now they will grow even more quickly. Now tourists are compelled to fly up to Barcelona to Spain, or Toulouse to France, and then to go up to dwarfish country for three hours.

Russian businessman has bought the most expensive house of America

info — Mon, 23 Jun 2008 07:55:41 +0000

Russian businessman buys house of American billionaire Donald Trump for $100 million. Dmitry Rybolovlev, 41, who made his fortune in fertilizer became the new owner of a grandiose manor in Florida(6.5-acre Maison de l’Amitie).
So-called “House of friendship” (Maison de l’Amitie) is located in small town Palm Beach, on coast of ocean. Trump has bought it several years ago and has had time to make face lifting.
According to The Wall-Street Journal, the transaction takes place in some weeks. It is informed, that $100 million is the highest price, which was ever paid for a private one family residence.
The area of the house makes about 3 thousand square meters and has 2,5 more hectare on coast of Ocean. Private residence possesses sports hall, tennis court, wellness salon, 18 bedrooms and one ballroom.
Realtors prove that it will be much more favorable to take down and to build a country house into some sites. It is not excluded. According to Dmitry Rybolovlev’s application this purchase - is just real estate investment, but it doesn’t mean that the new owner has decided to live in the USA.

Huge elk in cost of $10 million will be constructed in Sweden

info — Sat, 21 Jun 2008 06:00:52 +0000

In autumn of 2008 construction of the biggest in the world of man-made elk will be started on the top of the mountain Vithatten, located in the north of Sweden.
In practically completely a wooden construction the restaurant, which in combination can serve as a concert hall on 350 landing places and a viewing platform will be settled down. The project has a proper name - “Big”.
Construction of 45-meter “elk” will manage in 60 million Swedish crones (nearby $10 million). Construction will begin in the autumn of 2008, and it will be already possible to visit “elk” in two years.
On horns huge elk, which on a plan of the architect will bite branches of the same huge pine, the viewing platform will be placed. Inside of a huge tree the lift, delivering visitors into elk’s mouth, will be settled down.

The number of real estate transactions has sharply decreased in the Great Britain

info — Thu, 12 Jun 2008 17:02:29 +0000

As it has become known for last 3 months the usual agency of the real estate managed to find the buyer on the average on 17 houses, exposed on sale. Thus, purchasing activity in the market of habitation was reduced almost three times in comparison with the similar period of the last year.
Moreover, practice of decrease by owners of the prices with the purpose to not lose clients which follows already after the conclusion with them agreements on sale has returned to the market. The last ones (clients), in turn, cannot often receive in banks necessary even for initial payment sum.
Proceeding reduction in demand in the market is a reflection of bank transactions collapse.

The largest swindle in of the real estate sphere has been finally disclosed

info — Tue, 10 Jun 2008 16:45:29 +0000

In Moscow the man and the woman, suspected in deceive of 250 00 people, have been detained - so many people consider them victims of financial pyramid “Region-center”, “Guarant-Invest”, “Guarant-Credit” - the firm had some names. All these people have invested $75 million into the company.

Chairman of board of firm “Region-center” Mamira Dzhasybaeva promised shareholders unknown - up to 90 % annual - incomes. According to her promises the money ought to come from construction of cottages, factories and other objects in regions.

According to the most conservative estimations Dzhasybaeva and her business partner Vladimir Sokolov gained about 18 billion rubles. Trustful citizens gave their money on opening of unique dairy factory and then - on construction of a housing estate.

Having collected the capital in one region, the firm changed a signboard and moved into another one.

Experts predict fall in prices for real estate in Croatia

info — Sun, 08 Jun 2008 18:17:46 +0000

Analysts of CR Consulting Company have come to conclusion that now in Croatia there is a process of updating of the prices.
General Director of the company Alexander Gorbunov has noted that in Croatia the prices have slowed down or have stopped the growth, so, in the long term it is possible to expect falling of cost of the overestimated real estate. And it is somewhere 60-70 % of objects at coast of Croatia.
From May, 2007, till May 2008 at Coast of Adriactic Sea prices for the real estate have grown on the average on 7 %. In the most active market of Croatia - in Zagreb - the prices practically do not grow since last summer.
Experts mark that the price fever has left Croatia and now it has gone over to Montenegro.