Largest European spa-resort will be constructed in Croatia
Written on 7 September 2008 by infoLargest in the Europe spa-complex will appear at the Adriatic coast.
The resort complex under the name Novi Spa Hotel and Resort will have two hotels of “premium” class, the spa-center, 20 elite country houses, shopping center and the congress-hall. A total area of a resort will make 311 thousand square meters. Investors – Croatian companies Lir and Orbis – will spend € 150 million on a construction only the first turn of a complex. it will be already possible to visit a spa-resort in the autumn of 2009.
Amtel-Vredestein will construct hotels in Russia
Written on 30 August 2008 by infoIndian businessman Sudhir Gupta, the founder of holding Amtel-Vredestein, together with Singapore City Developments will construct in Russia two hotel networks Iris Congress Hotel and Gold Orchard Hotels.
Iris Congress Hotel will operate hotels of “3-4 stars” level, Gold Orchard Hotels – apart-hotels.
According to one of capital hoteliers, till 2012 it is planned to construct five hotels with 1,5 thousand room-numbers.
Swedes expect falling of prices
Written on 30 August 2008 by infoThe majority of Swedes consider, that the prices for the real estate will fall or, at least, will not grow. Such data has been received in result of interrogation of 1 thousand respondents, lead by Skandinaviska Enskilda Bank (SEB).
Only 32 % of house owners consider that the prices for habitation will grow in the future. The last month they were more optimistic – then 36 % of inhabitants believed in it.
At the same time, Swedes consider that in the future the Central Bank of Sweden will keep the rate under credits at a level of 4,9 %.
The present interest rate in the country makes 4,5 %.
US Ministry of Finance: housing crisis will not finish this year
Written on 19 August 2008 by infoUS Minister of Finance Henry Paulson does not expect correction of a situation in the real estate market of the USA.
In interview of broadcasting company NBC he has declared, that crisis in this market, which is characterized by a proceeding falling of the prices for habitation and growth of number of bankruptcies because of inability to pay off on hypothec to credits, is their main economic problem as the countries.
According to Paulson, the government does not have plans of rendering of the emergency help to two hypothec companies Freddie Mac and Fannie Mae, which finance about 70 % of all transactions under the mortgage in the USA though the last month the Congress has allocated the American Ministry of Finance with powers to get their shares.
Thus, from Paulson’s point of view, the government should support these institutes, having strengthened the control over them as the confidence of world investors depends on their stability in many respects.
In May prices for houses in 20 US largest mega cities have fallen on 15,8 % in comparison with the same period of the last year. In the second quarter the number of alienations of habitation for debts has jumped up on 121 % in comparison with the second quarter of the last year.
Experts: prices for houses in the USA will fall on 20 %
Written on 14 August 2008 by infoThe prices for houses in the USA will decrease on 20 %, and present crisis of hypothec financing only passed equator. Such opinion has been made by Richard F. Syron, chapter of Freddie Mac -hypothec giant sponsored by the state.
During a teleconference with investors Syron has told that earlier it was obvious, that the prices for houses would decrease at least on 15 %, but present economic conditions assume, and that the real estate market is still far from stabilization.
According to Syron the prices for houses would soon fall on 18-20%… and crisis has only reached the middle.
Experts expect prices’ reduction in Australia
Written on 8 August 2008 by infoAustralian experts consider that in spite of the fact that last year Australian real estate showed stable growth contrary to increase the interest rate under credits, within next year the habitation in the country will become cheaper.
According to data, represented by realtor group Australian Property Monitors (APM), in 2007-2008 the average price of the house in Australia has grown on 7,2 %, having reached $351,087 thousand. Price of apartment has also grown on 7,2 % and has reached $330,298 thousand.
However, in five largest cities of Australia prices were reducing since April till June. The greatest recession of the prices was fixed in Perth, where it has made 2,8 %, and in Sydney – 2,1 %. The cheapest habitation – in the city of Hobart, where the price has fallen on 3,8 % and has made $196,3 thousand.
APM considers, that within three last months this falling was the greatest one since 2004, and in the nearest year the company expects the further recession of the prices on 10 %.
Crisis depreciated 3 million houses in Great Britain
Written on 4 August 2008 by infoAlmost 3 million of the British, who have bought houses during last two years, have depreciated their capital investments as now houses cost less, than they have paid for them.
Since May prices for real estate in Britain have fallen on 4,5 % – it is the fastest recession for three months, ever registered by leading building company Nationwide. Since October, 2007, the average price of the house has decreased on $33,637 thousand that is every day the house was losing in cost about $118.
Analysts consider that it is only the beginning – by the end of 2010, consulting company Capital Economics predicts, that the prices will fall on 35 % more.
Those, who bought houses since August, 2006, who does not face problems with repayment of debts under the credit and is not going to sell houses, will not suffer so much from falling of the prices as those, who does not cope with payment of percent and compelled to sell the houses.
Investment appeal of the French real estate market
Written on 22 July 2008 by infoFrance 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
Written on 15 July 2008 by infoIn 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
Written on 10 July 2008 by infoSwedbank 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.
