The small month-on-month rise experienced in US house prices in May has been described as a "positive" step for the sector by one real estate expert.
Adam Samuel, director of Nubricks.com, said that it is too soon to tell whether this will develop into a consistent upturn, but welcomed the news that values are starting to climb.
His comments come after the latest Standard & Poor’s/Case-Shiller index revealed that locations on the ten and 20-city composite indices increased by 1.1 and one per cent respectively in May compared to April.
However, all regions recorded a drop when compared to the same period in 2010.
Mr Samuel stated: "A lot of people are looking around and a lot of people are searching, but in regards to actually putting their money down and investing in the US market, I would say that things have remained fairly consistent over the last 12 months."
He did go on to point out that if enough investors enter the market, house prices will start to rise again.
Saturday 30 July 2011
‘Excellent opportunities’ can be found on Spanish property market
Buyers keen to find a property in Spain do not need to rush into any deals, it has been advised.
Freelance property journalist and founder of Propertyjournalist.com Marc Da Silva explained that prices are not likely to increase in the nation over the next couple of years.
He even suggested that they may drop further, which could enable investors to find a better bargain.
"In Spain, prices have been falling there at a rapid and alarming rate for quite some time. It is a wonderful opportunity to negotiate a cheap property deal," Mr Da Silva stated.
But he recommended that buyers wait to make a transaction until the pound has strengthened against the euro because the problems being experienced by several eurozone economies indicates that the currency is "potentially overvalued".
Earlier this month, Primelocation.com revealed that the number of searches for real estate in Spain dropped significantly between the first and second quarters of the year, falling by 24 per cent during this period.
Freelance property journalist and founder of Propertyjournalist.com Marc Da Silva explained that prices are not likely to increase in the nation over the next couple of years.
He even suggested that they may drop further, which could enable investors to find a better bargain.
"In Spain, prices have been falling there at a rapid and alarming rate for quite some time. It is a wonderful opportunity to negotiate a cheap property deal," Mr Da Silva stated.
But he recommended that buyers wait to make a transaction until the pound has strengthened against the euro because the problems being experienced by several eurozone economies indicates that the currency is "potentially overvalued".
Earlier this month, Primelocation.com revealed that the number of searches for real estate in Spain dropped significantly between the first and second quarters of the year, falling by 24 per cent during this period.
Wednesday 20 July 2011
California property appealing to foreign buyers
Real estate in the Silicon Valley region of California is increasingly being targeted by foreign investors, it has been claimed.
An article in the San Jose Mercury News noted that the influx of overseas buyers is being fuelled in part by workers moving to the area from elsewhere, as well as those looking for investment properties.
Speaking to the publication, realtor with Alain Pinel in Los Gatos Michael Riese commented that many buyers from outside the country consider "a home purchase in the US as a solid investment, compared with what they may otherwise put their cash in back home".
The publication revealed that Chinese buyers are among the most active in the Silicon Valley real estate market at present.
And it seems that California is not the only region that is appealing to investors when it comes to US property, with the country as a whole seeing the sector improve, according to a recent Jones Lang LaSalle report.
Research recently published by the firm revealed that global direct investment volumes were up by seven per cent in the second quarter of the year – compared to the first three months of 2011 – and had risen by 47 per cent over the same period in 2010.
An article in the San Jose Mercury News noted that the influx of overseas buyers is being fuelled in part by workers moving to the area from elsewhere, as well as those looking for investment properties.
Speaking to the publication, realtor with Alain Pinel in Los Gatos Michael Riese commented that many buyers from outside the country consider "a home purchase in the US as a solid investment, compared with what they may otherwise put their cash in back home".
The publication revealed that Chinese buyers are among the most active in the Silicon Valley real estate market at present.
And it seems that California is not the only region that is appealing to investors when it comes to US property, with the country as a whole seeing the sector improve, according to a recent Jones Lang LaSalle report.
Research recently published by the firm revealed that global direct investment volumes were up by seven per cent in the second quarter of the year – compared to the first three months of 2011 – and had risen by 47 per cent over the same period in 2010.
US homeowners ‘overpricing’ properties
Many US homeowners looking to sell their properties are overvaluing their abodes and pricing them significantly above the current market value, research has revealed.
According to a survey by Zillow, people who bought real estate in or after 2007 are overpricing by 14.1 per cent on average.
It is buyers who made a purchase between 2002 and 2006 who are the most realistic, as they tend to place their properties on the market at 9.3 per cent above their actual worth.
Those who bought before 2002 ask for 11.6 per cent over the true value, the study added.
Chief economist at Zillow Dr Stan Humphries commented: "Overpricing homes causes them to stagnate on the market and keeps inventory from decreasing – not a desirable outcome for either the sellers or the market as a whole."
Earlier this month, the Clear Capital Home Data Index revealed that house prices in the US fell by 3.2 per cent over the first six months of 2011, with a further decline of 2.4 per cent anticipated by the end of the year.
According to a survey by Zillow, people who bought real estate in or after 2007 are overpricing by 14.1 per cent on average.
It is buyers who made a purchase between 2002 and 2006 who are the most realistic, as they tend to place their properties on the market at 9.3 per cent above their actual worth.
Those who bought before 2002 ask for 11.6 per cent over the true value, the study added.
Chief economist at Zillow Dr Stan Humphries commented: "Overpricing homes causes them to stagnate on the market and keeps inventory from decreasing – not a desirable outcome for either the sellers or the market as a whole."
Earlier this month, the Clear Capital Home Data Index revealed that house prices in the US fell by 3.2 per cent over the first six months of 2011, with a further decline of 2.4 per cent anticipated by the end of the year.
Saturday 2 July 2011
Indian buyers targeting Italian property market
Wealthy Indians are increasingly purchasing properties in Italy, it has been revealed.
Vice-president of credit risk management at Deutsche Bank Gulzar Malhotra told Business Standard that locations such as Sicily and Tuscany are proving popular among Indian investors.
He explained that the decline in property prices experienced across Europe is attracting more foreign buyers to the marketplace, with perennial favourites like Italy among the top locations for those seeking second homes or investment opportunities.
However, Indians are restricted in terms of what they can purchase because the Reserve Bank of India has capped the amount that can be spent on foreign property annually to $200,000 (£125,517) per person.
In May, DTZ published its Money into Property Europe 2011 report, which noted that transaction volumes across the continent increased by 64 per cent in 2010 compared with the previous year.
The organisation went on to predict this to rise by a further 20 per cent by the end of 2011.
Vice-president of credit risk management at Deutsche Bank Gulzar Malhotra told Business Standard that locations such as Sicily and Tuscany are proving popular among Indian investors.
He explained that the decline in property prices experienced across Europe is attracting more foreign buyers to the marketplace, with perennial favourites like Italy among the top locations for those seeking second homes or investment opportunities.
However, Indians are restricted in terms of what they can purchase because the Reserve Bank of India has capped the amount that can be spent on foreign property annually to $200,000 (£125,517) per person.
In May, DTZ published its Money into Property Europe 2011 report, which noted that transaction volumes across the continent increased by 64 per cent in 2010 compared with the previous year.
The organisation went on to predict this to rise by a further 20 per cent by the end of 2011.
Australian property market ‘to start recovery’
Property prices in Australia are expected to remain steady throughout the rest of this year, one business research organisation has predicted.
BIS Shrapnel has published its Residential Property Prospects 2011-2014 and stated that a crash in the market is not anticipated.
In fact, the firm commented that some of the nation’s state capitals should experience "moderate price growth over the following two years", despite a drop in the median value of homes being recorded in many areas in the first three months of 2011.
Meanwhile, chief executive officer of Metropole Property Strategists Mike Yardney agreed that the Australian real estate sector is on the road to recovery.
He cited population growth, a culture of homeownership and a lack of new developments as factors that could support property prices and underpin growth within the industry.
Mr Yardney also noted that due to a shortage of homes in certain areas, rents are expected to rise, which could be good news for any investors with residential properties in their portfolios.
BIS Shrapnel has published its Residential Property Prospects 2011-2014 and stated that a crash in the market is not anticipated.
In fact, the firm commented that some of the nation’s state capitals should experience "moderate price growth over the following two years", despite a drop in the median value of homes being recorded in many areas in the first three months of 2011.
Meanwhile, chief executive officer of Metropole Property Strategists Mike Yardney agreed that the Australian real estate sector is on the road to recovery.
He cited population growth, a culture of homeownership and a lack of new developments as factors that could support property prices and underpin growth within the industry.
Mr Yardney also noted that due to a shortage of homes in certain areas, rents are expected to rise, which could be good news for any investors with residential properties in their portfolios.
Egypt ‘a good option’ for property investment
One expert has claimed that Egypt could be a good bet for anyone seeking an overseas property investment.
Director and founder of Rogue Property David Freeman stated that the north African nation is "definitely a place I’d recommend".
He noted that Sharm el Sheikh, a Red Sea resort in the Sinai Peninsula, has some developments that are worth considering and added that its popularity as a tourist destination enhances its appeal.
Meanwhile, a report in the Financial Times earlier this week revealed that construction activity in Egypt has slowed considerably since the revolution that took place in January this year.
With less stock being added to the Egyptian real estate market, investors may decide that now is a good time to make a purchase.
Hassan Allam, managing director of Hassan Allam Construction, told the publication that many people are holding back until the results of the elections – which are due to take place in September 2011.
Director and founder of Rogue Property David Freeman stated that the north African nation is "definitely a place I’d recommend".
He noted that Sharm el Sheikh, a Red Sea resort in the Sinai Peninsula, has some developments that are worth considering and added that its popularity as a tourist destination enhances its appeal.
Meanwhile, a report in the Financial Times earlier this week revealed that construction activity in Egypt has slowed considerably since the revolution that took place in January this year.
With less stock being added to the Egyptian real estate market, investors may decide that now is a good time to make a purchase.
Hassan Allam, managing director of Hassan Allam Construction, told the publication that many people are holding back until the results of the elections – which are due to take place in September 2011.
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