Turkish Property Financing

23 Haziran 2009 Salı

Bulgaria prices 'at market value'

The average price of property in Bulgaria is now close to reaching its real market value, it has been stated.

Speaking to Darik Radio, chair of the National Real Property Association Lachezar Iskrov said the level of prices was now close to being the right one, although he could not say when prices will begin to rise again, Novinite.com reports.

Mr Iskrov listed a number of places as being good ones for property investors to buy in.

He commented that most investors look for two-room apartments in Sofia, with the best districts to buy in being Lyulin and Druzhba for mid-range property, while South Park remains the most prestigious.

Mr Iskirov stated prices for good properties are now at around €1,000 to €1,200 (£1,034) per sq m.

The cost of a mortgage for those buying a property in the country may have fallen for many after a recent base rate cut.

Bulgaria's central bank trimmed its base rate at the start of last month from 3.53 per cent to 2.27 per cent.

Britons 'selling French properties to each other'

An estate agency has said that many Britons are selling up their properties in France – but other UK buyers are the main customers.

The Daily Telegraph reported that the high value of the euro and the gains this offers for sellers mean it is a good time for some to cash in, while others want to move back for lifestyle reasons.

However, the bulk of customers at estate agency Winkworth are Britons, the paper noted.

Representative of the firm Roddy Aris said the British sellers are in a good position, stating: "The advantage is that they can take lower offers than their French counterparts. They can take a bigger hit."

Such a situation may mean that UK investors can negotiate a bigger discount when buying in the country from fellow Britons.

Lifestyle reasons are a major draw for people to continue wanting to live in France, a poll of expats has shown this week.

The survey by NatWest revealed the country was the most favoured European nation for quality of life.

US sees upsurge in buyers as property gets cheaper

The US is attracting more British buyers as the cost of buying a property there falls, it has been stated.

Research by money exchange company Currency Index has found that the country is growing in popularity, something the firm has attributed to falling prices, less expensive mortgages due to base rate cuts and the strengthening pound.

Commenting on the development in the US and in other countries, spokesman at the firm Robin Hayes said: "We are seeing a renewed demand for currency exchange as people pick up property bargains," noting that Florida is among these buyer destinations.

People buying property in Florida and elsewhere may find that the present time is a good one in which to buy, chief executive of the Association of International Property Professionals Paul Owen told the Daily Mail recently.

However, he warned, people seeking bargains should not ignore "the basic rules of safe buying abroad", advising that buyers should get independent advice on the financial and legal issues involved.

Take your time, Andalucia buyers advised

Those thinking of buying property in rural parts of inland Spain such as Andalucia should spend time in the area they wish to purchase in and understand that water supplies are more important than location, it has been stated.

Such advice comes from UK author Chris Stewart, who has lived in the region since 1988 and written three books based on life and culture there, the Times reports.

He said: "Stay in the area for a year before you buy. Live through all the seasons, get to know the people and get to know about water."

Mr Stewart commented that living in the "savage terrain" of inland Spain offered a very different experience for ex-pats to the seaside of the Costas.

Many Britons are opting to take exactly this option when moving to Spain in preference to the coastal areas, PR manager at tourist lettings firm Holiday-Rentals Sarah Chambers noted recently.

She said those who did so were able to experience an "authentic" Spanish lifestyle in Andalucia.

Schrapnel tips Australian market to explode

Australia's property sector could be set for rapid price growth in the next three years, a new report has predicted.

The BIS Residential Property Prospects report forecasted that state capitals around the country will see significant price rises initially boosted by grant-aided first-time buyers, but then sustained by other factors such as low interest rates.

It said this would lead to cities such as Melbourne, Sydney and Adelaide enjoying price rises of as much as 19 per cent during the period.

Such a prospect may tempt investors to consider buying property in Australia.

Those looking at the South Australian capital Adelaide may wish to note a forthcoming list of its most liveable suburbs to be compiled by demographer Bernard Salt and published by the Sunday Mail.

Mr Salt told the paper that the south of the city has advanced significantly in the last ten years and the central business district has seen the development of new apartments.

New airline link to Cape Verde

A new air link to Cape Verde has been announced, something that may encourage those looking to invest in the islands.

This will see Air Portugal offering three flights a week from Lisbon to the new Sao Pedro airport near Mindelo in the island of Sao Vicente, Macauhub reports.

Luis Garcia, the airline's Cape Verde representative, told Portuguese news agency Lusa that the flights will start when the new airport - the fourth international hub in the archipelago - is able to take night-time flights, something that could happen as soon as August.

The move may help those keen on investing in Cape Verde, particularly if they wish to combine this with investing in Portugal as well.

A new major ring road project on the island of Fogo will boost that part of the Cape Verde property market, it was recently predicted.

Property editor for BuyAssociation Paul Collins said this would be because it would bring more places "within an hour's drive" of the nearest international airport, something investors prefer.

Britons 'seeking dream homes in Australia'

Australia has emerged as the new location of choice for Britons naming their dream home.

Insurer Legal & General's Home Sweet Home survey found that only 15 per cent of Britons are currently living in their dream home and for over a quarter (27 per cent) their ideal residence would be overseas.

The survey found that of those looking to move abroad, the most popular country to live in would be Australia, picked by one in five.

This replaced the USA, which came top of the list last year on 17 per cent.

News of the British desire to buy down under was also reported this week by Malaysian news provider Star Biz.

In an article on Australian property investment, it quoted an agent from real estate firm LJ Hooker stating that the "bulk" of overseas buyers of Australian property are from the UK.

The agent also said that extra state aid for first-time buyers and lower stamp taxes for off-plan buyers made Victoria the best state to purchase in.