According to research company STR Global, level of hotels’ fallibility in Europe has fallen to 8,9 % in 1 quarter of 2009 in comparison with the same period of 2008.
Hotel business of East and Southern Europe has suffered most of all – there this indicator has fallen on 19 % and 16 % accordingly. The average income of standard room in the first quarter o f 2009 has fallen on 23 %: in hotels of Madrid – on 23 %, Paris – on 19 %, Rome – on 17 %.
According to STR Global, in average prices for rooms have decreased on 9,6 %.
In connection with sharp reduction of volumes of new building practically in all developed countries of the world, deficiency of objects of the inhabited real estate and, as consequence, a rise in prices is predicted in short-term prospect.
Knight Frank prove that even in difficult market conditions qualitative objects from reliable world brands with a good arrangement will be in demand. For example 28 % of apartments are already bought in project Porto Montenegro (Montenegro), though construction started last month.
Profitableness growth reduction in the market of office real estate in Europe has finally overcome crisis. Such information has been represented in Jones Lang LaSalleâ€™s report.
According to company Jones Lang LaSalle, in the first quarter of 2009 the minimum average rate of profitableness of office real estate in Europe has increased by 20 basic points, from 5,8 % to 6 %, that is much less, than growth on 50 basic points between the third and fourth quarter in 2008.
Jones Lang LaSalle analysts believe that profitableness rates in many markets, including London and Paris, can reach the marginal level till the end of the year and in some cases can even start to decrease.
German and Italian markets still show the most contained growth of profitableness from the moment of the beginning of market crisis (50-60 basic points within the last 12 months). All German markets remained stable throughout quarter; profitableness rates in Milan have grown, in the meantime, on 15 basic points, and remained stable in Rome. Profitableness rates have shown the highest growth (50 basic points) in the markets of Bucharest, Dublin, Moscow and St.-Petersburg.
Insurance giant American International Group (AIG) is going to sell the headquarters in Japan for $1 billion.
One of the Japanese insurance companies, which is still in secret, is the prospective buyer of AIGs main office.
Exact date of the transaction is not called. Office sale in Japan will become one of the largest AIGs losses during crisis.
The company is compelled to sell actives in order to pay off with debts to the American government.
As it has become known, transaction on sale of AIGs leasing business – International Lease Finance – is almost completed.
According to the last data, presented by national bank Teranet, in February, 2009, prices for habitation in Canada have decreased. The greatest recession has occurred in Calgary, Vancouver and Toronto.
Prices decrease the third month successively. In comparison with February, 2008, falling has made 4,1 %, with January, 2009, – 2 %.
In Calgary prices for houses have fallen on 8,1 % in comparison with last year, in Vancouver decrease has made 6,4 %, in Toronto – 5 %. In Montreal the habitation has risen in price for 3,2 % in annual calculation.
Experts mark that now Canadian real estate market has turned into “the market of the buyer”. Within the last 5 years market prices have been dictated by sellers.
At Property Marketing Awards, arranged by British magazine Estate Gazette, Company Knight Frank has received the highest award for the best corporate brand in the real estate market of the Great Britain.
Ceremony of winners rewarding has been held at Marriott Grosvenor Square hotel in London and has collected more than 400 visitors. Property Marketing Awards estimates innovations, creative approach and success of marketing campaigns in the field of the real estate. It also promotes active participation of the companies in charity. Gathered Money will be given to The Chartered Surveyors’ Training Trust.
Nick Tomelson, Knight Frank senior partner, has told that their company continues to build a simple, global, strong brand which causes pride in employees of the company worldwide and desire of clients to use advisers and to continue cooperation with our company.
Clients of company MIRAX BALKAN will have possibility to get the real estate abroad on hypothec crediting system. Making 30 % initial payment, it will be possible to issue the mortgage for 7-10 years under 6,5-7 %. The company offers apartments in hotels of a city-club Aster Montenegro.
Now MIRAX BALKAN managers carry on negotiations with the European banks concerning this question. In the beginning of June of this year Mirax Balkan is going to receive the first certificates on the property on apartments and profitable mortgage.
The factor, defining success of the project is guaranteed by professionalism of the developer, undertaking its realization.
Experts notice, that such offer on hypothec crediting will promote demand increase as to get the loan is quite problematic.
At decision-making on real estate acquisition abroad experts also advise to pay attention to already ready complexes. It will allow to reduce possible risks and to receive real financial tools in the form of the hypothec credit.
Aster Montenegro – is a city-club, including country houses of a premium-class (the area of apartments in country houses from 89 sq.m.), hotel complex, high-rise residential building, and infrastructure. The total area of the complex will make 94 thousand sq.m., the volume of investments under the project will make more than 200 million euro.
Stable policy and economy, low cost of a life, the sun all year and infinite beaches of white sand…. No, it is not paradise; it is Costa Rica, very small and very attractive to the investor country in Central America.
It is no wonder, that Costa Rica attracts investors, especially from the USA and Canada. Since 2000 demand for the local real estate grew constantly, and for last 5 years the gain of purchases by non-residents has made 27 % a year.
In 2008 foreigners have got the real estate on $300 million here, habitation of all types, and also shops and restaurants.
Country houses are often got not only for the purpose of investments or as habitation for holiday, but also as objects for rent.
Some people, however, get here forever: stresses here are quickly forgotten and you can leave happily under southern stars.
This last category of foreigners promotes development of local building sector.
it is not difficult to buy real estate in Costa Rica, thus the tax of transaction will make 4,5 % and hardly more than 1 % will be added by other taxes.
But there are also some details. So, on a coastal line the foreigner, who was not the resident of Costa Rica within 5 years, can become the owner of object of the real estate only on 49 % – Â«the control packageÂ» should belong to the local resident.
Purchase procedure is simple enough and does not take a lot of time: having signed contract about purchase and having paid 10 % of cost, the buyer expects object check on cleanliness from pledges and debts and pays the remained sum at the moment of transaction registration.
By the way, Dutches and Italians are the main buyers after Americans and Canadians.
Mirax Groupâ€™s bank branch has started the new service project in Miami: Sky Concierge and Realty by Mirax, which will support existing project Aqua by Mirax.
Sky Concierge and Realty by Mirax is the first and unique Russian company on granting of premium class concierge-services, and also the services, connected with search of the real estate in the USA.
Miami – is an original city. Even the restaurant or club choice frequently demands knowledge of local habits and rules. Many tourists visit it every year.
The set of services of round-the-clock concierge-service Sky Concierge and Realty by Mirax includes granting of the help information, consultation concerning the US real estate market, realtorsâ€™ services, personal guide granting, meeting at the airport, booking of hotels and many other services.
The company considers rendering of any help to loyal clients from Russia during their stay in the USA and, in particular, in Miami as its main target activity.
According to Halifax, in March, 2009, prices for houses in the Great Britain have decreased on 1,9 % in monthly calculation.
In comparison with prices for three months prices reduction has made 17,5 % in annual calculation. Analysts expected that in monthly calculation prices will reduce on 1 %.
Last month the average price of the house in Britain has made 157,326 thousand pounds.