News - Global Real Estate & Investment News from Propertyshowrooms.com
- Australian property investments 'offer great after-tax returns'
Property investment in Australia could be a great option for those looking to maximise their after-tax returns, it has been claimed.
James Dunn, writing for the Australian, has asserted that a ten-year comparison has shown that residential property has bested shares at both the highest and lowest marginal tax rates.
Michael Yardney, an industry expert, told the news provider that property is particularly useful as it has a low level of volatility.
He said: "Historically, well-located properties double in value every eight to ten years, with an average capital growth of eight to ten per cent a year, and rental yield of around four to five per cent a year."
Mr Yardney added that those looking to leverage their investments also stand to benefit due to banks' willingness to offer better loan deals for this type of investment, meaning that it can outperform shares.
Australian Property Monitors economist Matthew Bell recently suggest that Melbourne, Australia offers investors one of the best performing markets over the last 12 months.
- World Cup and Olympics 'could create Brazilian property boost'
People looking to invest in Brazilian property should focus on those cities which are most closely connected to the major up-coming sporting events, an expert has claimed.
Danilo Canuto, executive director of the Association for Real Estate and Tourism Development (ADIT), told the Brazil Investment Guide that a total of 50 billion AUS (32 billion GBP) of projects have been planned for 12 key cities hosting events in the 2014 football World Cup and the 2016 Olympic Games.
Key locations for investment could be Belo Horizonte, Brasilia, Cuiaba, Curitiba, Fortaleza, Manaus, Natal, Porto Alegre, Recife, Rio de Janeiro, Salvador and Sao Paulo.
The emphasis being given to improving these locations' infrastructures is given as one of the major reasons why there is huge growth potential in these areas.
Earlier this month, Macauhub.com reported that the Brazilian government is concentrating on spending 6.2 billion reais (2.2 billion GBP) on modernising the country's ports and airport ahead of the World Cup and Olympics.
- Property markets in Asia outperforming UK and the Eurozone
UK and Eurozone property markets are being outperformed by those in South America, Asia and Eastern Europe, according to a survey.
The Royal Institution of Chartered Surveyors' (Rics) Global Property Survey revealed that occupier demand is rising in the majority of countries across the globe.
However the main exception is the UK and Eurozone countries, Property-report.com reported.
Brazil is leading with the net balance of surveyors reporting a rise in occupier demand increasing from 70 per cent to 85 per cent. Markets in Peru and China have also been performing well.
"The real estate world continues to be split broadly speaking between the emerging and developed economies," Rics chief economist Simon Rubinsohn said.
"Strong growth in many of the former, including the likes of Brazil, Hong Kong and India, is continuing to boost demand for new space from occupiers as well as encouraging investment activity."
The Rics is the leading professional body for qualifications and standards in land, property and construction.- Demand for holiday rental properties in Spain remains strong
People wanting to buy a property abroad to rent out may be interested by the announcement that demand for rental properties in Spain is strong.
It remains the most popular place to rent a home overseas, according to Holidaylettings.co.uk.
The second most popular destination was revealed as France, with property in Portugal and Italy next in line.
The consumer trend analyses have also revealed that there has been a surge in demand for last minute bookings.
This has led to the greatest increase in rental demand for holiday homes in Malta.
"Second homeowners savvy to the appeal of their home to paying guests will do particularly well in these destinations this summer. Short haul sunshine is in high demand alongside value for money accommodation and last minute availability," Ross Elder, managing director of holidaylettings.co.uk, told A Place in the Sun.
Writing on the Telegraph's website, journalist Graham Norwood said that Spanish cities are ripe for second home-buyers.- Number of USA homes for sale rising
The number of properties for listed sale in the USA is continuing to increase, according to research.
People considering buying a home in the USA will be pleased to learn that Altos Research's report revealed house prices there are also remaining stable.
According to the company's composite price index, following a monthly USA price increase in May, asking prices for homes on the sales market stayed flat in June.
The report also found that an increasing number of USA homeowners are making the most of improving market conditions and putting their homes up for sale.
In June and during the first half of 2010, the number of homes on the USA property market rose.
Compared to the $470,017 (£303,236) average price recorded in January 2009, June's price data is better.
Altos Research is a resource for real-time real estate data which publishes statistics and analysis of real estate market.- Melbourne, Australia's property market could be 'top performer'
Those looking to purchase overseas property in Australia may be interested to learn that Melbourne's property market looks set to have been one of the best performing markets over the last 12 months, according to an expert.
Matthew Bell, an economist for Australian Property Monitors, claimed that Melbourne saw the average house price rise by more than 25 per cent over the year to March 2010, reports the Sydney Morning Herald.
Such a rise would make Melbourne one of the world's most successfully-performing property markets in the last year.
Mr Bell pointed out that rises in average housing prices indicated a shift in the types of houses being sold and an increase in housing value.
He believes that Melbourne's suburbs have seen an increase in properties being bought at the top end of the market during the most recent 12 month period.
Last week, it was reported by the Sydney Morning Herald that low interest rates across Australia had ensured the country's housing market had remained strong during a time were many other countries had seen their property values struggle.- More Brits looking to invest in property overseas
The number of internet searches by Brits for property overseas has increased exponentially in the last 12 months, according to a study conducted by an estate agent consortium.
Data collected by Primelocation.com shows that June 2010 saw a 151 per cent increase in the number of searches for property in Spain by UK citizens compared to June 2009, reported British newspaper The Telegraph.
Searches for Spanish property accounted for a third of the overall number of overseas housing internet enquiries.
In May, the consortium reported international property searches had increased by an average of 109 per cent between May 2009 and May 2010.
Despite economic worries concerning the eurozone and a potential capital gains tax increase, Spain has remained a popular destination for those Brits searching for overseas property.
Ann Wright, international development manager for Primelocation.com, told The Telegraph: "Spain's main attractions are still the warm climate, great beaches and unique culture. These factors will still draw in international buyers whatever the economic situation."- Brits expect UK property market to 'stay the same'
Those considering overseas property investment may be interested to learn that many Brits expect the UK housing market to stay the same or rise over the next 12 months.
A survey conducted by Rightmove.co.uk found that, out of 20,000 perspective home movers, 75 per cent expected the UK market to sustain its current level or increase between now and summer 2011.
People's belief that house prices in the UK could still rise is despite news that, last month, sellers began to drop asking prices.
However, the report by Rightmove.co.uk shows a drop of nine per cent in the number of people expecting house prices to stay the same or rise over the next 12 months.
Commercial director for the company Miles Shipside said: "A nine per cent drop is a significant shift."
However, Mr Shipside pointed out that with three-quarters of potential home movers still predicting prices to either remain the same or increase indicated an expectation of price stability on the UK housing market.
Last week, LettingZone reported that those looking to rent property could struggle over the next four or five years, as the number of rental properties available continued to fall short of demand.- Luxury hotels 'a growing market in Egyptian property'
The upmarket hotel industry offers potential to investors in property in Egypt, according to a newspaper.
Rebecca Bundham of the National reported how property investors have been able to take advantage of the fact that tourism in Egypt is now on the up, having suffered during the recession.
Adviser Ayman Sami noted that as the euro strengthens against the Egyptian pound, more people are coming from the eurozone to holiday in the country.
Fuat Koroglu, general manager of the new Kempinski Nile Hotel, told the paper that the general demographic of visitors to Egypt is shifting and that more "high end" customers are coming over to join the traditional budget travellers.
He added that many hotel properties in Egypt cater for the upper end of the market but are in need of refurbishment due to their age.
The Egyptian tourist authority promotes activities such as Nile
cruises, diving and safari trips to those taking a holiday in the country.
Additionally, there is the chance to learn about Islamic and Coptic history and culture.- Prices uncertain on UAE property
A lack of activity within the Dubai property market is making it impossible to assess exactly how low prices have dropped.
Writing for Bloomberg. Zainab Fattah interviewed a number of analysts and experts on the property market in Dubai on the matter.
The lack of foreclosure auctions and sales means potential purchasers do not have enough data to see what properties are worth in the region.
In addition, the Dubai Land Department's data is also too patchy and incomplete to offer a proper idea of prices.
Prices are known to have fallen since their 2008 peak but Craig Plumb of Jones Lang LaSalle said that until there are more foreclosures, "we are not going to see the bottom of the market".
The National Newspaper, however, has reported that the prospects for the UAE are improving.
A debt restructuring plan has been devised for bankers and the developer Emaar Properties recorded a quarterly profit increase.
The newspaper noted that property sales had suffered as a result of the recession and prices may still continue to fall before recovering.- Property prices in Australia expected to fall
The property prices in some parts of Australia may be close to peaking, indicating that prices are set to fall.
Downward pressure is likely to be placed on areas of the country due to a dramatic increase in the number of houses coming on to the market, A Place in the Sun reported.
In the past year, a double-digit rise in residential prices has meant that some would-be buyers hoping to emigrate from the UK to Australia have been unable to afford property there.
However, if Australian property prices were to fall and housing stock for sale increase this would open up more choice for homebuyers.
According to advisory and forecasting firm SQM Research, around 35,000 homes in Melbourne will be advertised for sale in December.
The Economist magazine's latest survey of global housing reported that Australian property was overvalued by 61 per cent based on the current ratio of house prices-to-rents and historic ratios.- Property in Brazil will benefit from modernised airports and ports
Those considering investing in Brazilian property will benefit from improvements that are to be made to the South American country's ports and airports.
The modernisations will be made partly due to Brazil hosting the 2014 football World Cup and 2016 Olympic Games, Macauhub.com reported.
It is anticipated that the improvements will be made in time for the two sporting events.
The Brazilian government will spend 6.2 billion reais (£2.2 billion) on modernising ports and airports around the country.
Cruise ships will also be able to moor in the World Cup host cities, which will serve as temporary hotels for those who may be looking to invest in property in Brazil.
Recently Chinese investors have been looking to Brazil for farmland and water, according to Trueslant.com.- French property restoration opens new doors for owners
A sculptor and his wife have restored a beautiful property in France, near the medieval town of Uzes.
The Languedoc home of David Horsman and Celia Indsell, which is full of their artwork, now has a sandstone floor which they shipped from India, the Telegraph reported.
A quarter of the house had fallen down when the couple bought it for £160,000 in 1999.
"David's family had long owned a holiday home nearby so we knew the area well, but were lucky to find something that was isolated yet close to towns and only 40 minutes from Nimes airport," Ms Indsell told the paper.
The couple added a 120 sq yd colonnaded terrace to the 17th century property, some of which dates to Roman times.
From the upper floor, where the master bedroom's ensuite is located, panoramic views can be enjoyed.
According to a study carried out by Easyroommate.co.uk, France tops the house investment list.- Income drives European property market
The European property market is driven by income, according to a new report.
Invista Real Estate Investment Management's research discovered that over the last two years, the European property markets have continued to deliver attractive income returns, Property Magazine reported.
The income return on global information business IPD's Eurozone Index increased from 5.1 per cent in 2007 to 5.6 per cent at the end of 2009.
This is its highest level since 2003 and was able to cushion the impact of declining capital values.
As interest rates are expected to remain low in the short term, Invista expects to see an increasing amount of investor capital seeking income-producing property investments.
"Taking into account the subdued outlook for rental growth across Continental Europe, we therefore expect investors to remain focused on preserving and enhancing income returns at their currently attractive levels, and thus are unlikely to be attracted to higher risk, capital growth investments," Tim Francis, director of continental European strategy and research at Invista, commented.
Invista Real Estate Investment Management is the largest UK-listed real estate fund management group.- Interest in property in Johannesburg maintained throughout June
Activity in the residential property market in Johannesburg remained buoyant in June and during the World Cup, according to the latest property show day attendance figures.
The report, which was released by Johannesburg estate agent Vered Estates, contradicted many other estate agents' predictions that interest in property would slow down during the World Cup.
During the month, the company recorded an average of 12.4 visitors per show house. This is slightly higher than the 12.3 recorded in May.
The highest number of visitors to a single show house on any one day in June was 32, according to the data.
Jonny Novick, managing director of Vered Estates, said: "The successful hosting of the tournament means that primarily South Africans are a lot more comfortable making long term capital investments in South Africa."
According to South African property researcher Rode's Report on the State of the Property Market, due to the low loan-to-value ratios traditionally enforced by South African banks, landlords in South Africa are generally under little duress to sell.- Low interest rates 'make Australian property affordable'
While other economies have struggled during the recession, Australia's has remained resilient, keeping its housing market strong while others have floundered.
According to a report by the Sydney Morning Herald, Australia's low interest rates mean that housing in the country has remained affordable to many, leading to the Reserve Bank raising rates six times since October 2009.
However, despite the market remaining strong at the present moment, property investors are watching Australia's housing market carefully.
Banking analyst Brian Johnson said he believed rising interest rates would bring the Australian market more into line with the rest of the world and said it was not without risk.
The news comes as figures from the UK house price index from the Department of Communities and Local Government indicates that UK house prices are once again on the rise, meaning the market is 11 per cent above where it was this time last year. The report also showed that during May the number of mortgage completions increased.- Spanish property prices slashed
A surge of properties hitting the housing market in Spain has led to a growing number of sellers cutting their asking prices, according to research by Idealista.com.
Since the beginning of 2010, average property prices in Spain have dropped every month as more homes have appeared on the market, reports A Place in the Sun website.
The cities of Madrid and Barcelona have seen the greatest number of asking prices slashed. Prices are down 9.3 per cent in the capital and 7.4 per cent in Barcelona.
With sellers desperate to attract more buyers to the housing market, property prices across Spain have fallen by around eight per cent since the start of 2009, cutting £21,536 off initial figures.
The news comes as British homeowners with rental property in Spain reach the final days to submit capital gains tax (CGT) refunds after the Spanish government illegally charged non-native proprietors high CGT rates than Spaniards. The legal process takes three months and all claims must be settled by the end of October.- Buying property in France could be influenced by personality
Personality could determine a person's happiness in their chosen overseas property relocation, claims one website for those looking to move abroad.
Rather than allowing money or proximity of family to determine overseas property investment, it could be wise to let personality and temperament sway the decision.
According to Shelter Offshore, those seeking a quiet life full of peace and tranquillity could find themselves happiest in France.
Alternatively a calm but adventurous spirit could love living in Turkey among half written rules and a growing number of expats.
Unlike France where things can be readily handed over, Turkey offers those planning to move there the chance to pioneer and create their own home.
Holiday experts, Travelsoon, claims Turkey has seen its property market experience a 20 per cent growth since 2008, increasing the number of visitors to the country.
If neither Turkey's call of adventure nor France's laid-back attitude appeal, then Cyprus offers the best for a more young at heart personality.
Shelter Offshore claims Cyprus is perfect for those looking for an active social life and some fun while enjoying a great climate.- Thailand property market to benefit from recent political turmoil
The recent political turmoil in Thailand may have resulted in a more favourable climate for foreign property investors looking at the Asian destination.
Property Abroad has claimed that the problems within the country have led to the formation of a low-cost environment which is likely to appeal to savvy buyers.
Now that prices have fallen again due to the financial crisis and the political crisis, Thailand is undoubtedly likely to bring some high yielding property investments over the next four to five years," the website claimed.
"Though, with the political situation as tinder-dry as it is, it will be an investment not for the faint hearted."
Meanwhile, a leading tour operator has recently stated that bookings to the country are beginning to increase following the political troubles.
Hayes and Jarvis explained that many holidaymakers were looking to take advantage of good deals now available in the long-haul market.
In addition, the Tourism Authority of Thailand announced that it would be running a range of promotional strategies to tempt visitors back.
Official figures show that there was a 6.8 per cent decline in visitor numbers in June compared to last year.- UAE property market attracts British buyers, but fear still remains
British buyers are beginning to rekindle their interest in the UAE property market, it has been suggested.
Terry Hobbs, media manager at propertyshowrooms.com, has claimed that, although the levels of interest are nowhere near their peak of a few years ago, buyers are beginning to return to the sector.
"We are still not seeing the same levels of traffic as we were a year and a half or two years ago - nowhere near as much. I think there is still quite a bit of fear there," Mr Hobbs confirmed.
His comments come after research from Asteco found that both property prices and apartment rental rates have fallen in the past 18 months.
According to the organisation, rents fell by between seven and 15 per cent during the second quarter of 2010, compared to the first three months of the year.
However, the latest report from CB Richard Ellis has suggested that there are positive signs for the year ahead, with tourism rising and slight reductions in average lease rates.- Demand to continue to outstrip supply in UK rental market
Real estate investors looking to take advantage of the buy-to-let market in the UK may be interested to hear that the imbalance between supply and demand for rental property is likely to continue.
According to LettingZone, a surplus of prospective tenants will face a shortage of available homes for the "next four or five years".
Mark Garner, managing director at LettingZone, said that the situation had been caused by the difficulty for individuals to get on to the housing ladder.
"There is not much more stock coming on to the market and there are certainly more tenants coming on to the market and this will continue for probably the next four or five years," he added.
"Existing renters aren't moving because it costs a lot of money to move house, so they are finding it easier and cheaper to stay put."
Meanwhile, the news is likely to lead to increases in average rents, with demand outstripping supply across the country.
Indeed, earlier this year, FindaProperty.com reported that the average rent increased by 2.3 per cent during the second quarter of 2010 compared to the first.- Investors eye European commercial real estate
Interest in European commercial real estate has been attracting a great deal of interest from potential investors in the second quarter of 2010, new figures show.
According to the latest data from CB Richard Ellis, there has been a 15 per cent rise in comparison to the first three months of the year, taking the total commercial real estate turnover for the period to EUR23.5 billion.
The rise comes in spite of a number of external factors which are likely to have a large impact on the economies of a number of countries, such as the debt crisis and introduction of austerity measures by many governments.
Michael Haddock, director of EMEA Capital Markets Research at CB Richard Ellis, said: "With a growing number of larger transactions in Europe, we are also starting to see an increase in cross border activity."
Meanwhile, the news could lead to an increase in the number of searches for Sofiya property, with the region at the centre of Bulgaria's economic trade.- Turkish property market has enjoyed 'massive growth'
The Turkish property market has seen massive growth over the past two years, with sales increasing by 20 per cent since 2008, it has been claimed.
According to holiday experts Travelsoon, this rise has been further bolstered by the country's tourism trade, which has seen 44 million people visit during the first half of 2010.
Luke Nathan, who works for the company, says that Turkey has been thriving at the expense of Greece, with individuals able to enjoy a similar standard of living at a reduced cost.
"Since EU negotiations began with Turkey in 2005, it's been a lot easier for foreigners to buy property, and there's been something of a land rush ever since," he continues.
"That said, there's still a hefty bit of red tape to wade through, though there are a number of paid services that help you get your documents in order and speed up the process."
Individuals wanting to buy real estate in Mugla may be interested to know that currently there are now around 14,000 British-owned properties in the location.
The Turkish Culture and Tourism Office recently claimed that interest from holidaymakers to the destination was likely to continue all year round.- Currency changes lead to increase in interest in US property
The US property market has been benefiting from an increase in the strength of sterling, with investors looking to make their money go further.
PropertyShowrooms.com has reported a 12 per cent increase in interest in real estate in the destination in recent weeks - a figure which is in line with a 5.4 per cent rise in the power of the pound.
Terry Hobbs, media manager for the portal, explained that currently buyers would be able to save a significant amount of money because of the currency-based change.
The news could lead to an increase in the number of individuals searching for Florida property, with a large number of distressed properties in the region offering investors the opportunity to pick up a bargain.
Closer to home, Mr Hobbs revealed that there has been an increase in interest from investors looking at homes in both Spain and Greece.
"It is almost like people are saying, these are the countries that are in trouble, so let's have a look at them and see what distressed bargains there are out there," he added.- More home loans available to Bulgarian property investors
Real estate investors are set to be lured back to Bulgaria after it was revealed that more loans will be made available to buyers.
Following the departure of many purchasers at the height of the global economic crisis, banks are now targeting potential buyers to tempt them back to the country.
However, rather than British investors returning in their flocks, a large number of Russian buyers are now capitalising on the current market conditions.
"The great demand for real estate, which initially came from the UK and other English speaking countries, is being steadily replaced by Russian speakers," confirmed municipal mayor Avren Todorov.
The news may be of interest to those looking at homes for sale in Silistra, with the region a major cultural, industrial and educational centre located in the north-eastern area of the country.
Meanwhile, according to a recent report by Colliers International, prices in the Bulgarian capital of Sofia have continued to fall in 2010, with an annual decline of 17 per cent experienced.- Price growth in French property market could be a catalyst for further rises
Individuals looking at Aquitaine real estate listings may be interested to hear that prices in Bordeaux climbed 2.5 per cent during the first quarter of 2010.
In addition, Lille, Lyon, Toulouse, Nice and Paris all experienced appreciation of property values during the period, the Chamber of Notaries has revealed.
The body believes that these strong increases could be an early sign that the French real estate market is about to experience further sharp rises.
In particular, Paris has been singled out as a destination where growth of around ten per cent may occur, with demand driven by older homes in the capital city.
Currently, investors looking to buy real estate in the French market will be able to capitalise on the strength of sterling against the euro.
John Busby, director of Athena Mortgages, said that the current return on investment for many individuals buying property in the country was "impressive".
"The pound is at a 19-month high against the euro and the horizon for rate increases still seems a way off and mortgage rates remain at their historic lows," he added.- UK property values still rising
Property values in the UK have continued to rise throughout May and the overall market remains stable, the latest figures suggest.
The UK house price index, which is produced by the department of communities and local government, shows that mortgage completions during the period were up and prices had risen by 0.7 per cent compared to the previous month.
According to the body, the rise means that property values are now 11 per cent higher than they were at this stage last year and had grown 1.7 per cent during the quarter.
However, Simon Rubinsohn, chief economist at the Royal Institute of Chartered Surveyors (RICS), believes that the index may add to the uncertainty about the current state of the real estate market in the UK.
He argues that the conflicting information being given by various different price indexes was giving off mixed messages.
"Notwithstanding this, the key indicators from the latest RICS Housing Market Survey all suggest the second half of the year will be softer in terms of pricing than the first half," Mr Rubinsohn explained.
"New instructions are now outstripping buyer interest and this has been reflected in the RICS price expectations series turning negative."
Knight Frank recently claimed that prices for prime country houses rose 2.5 per cent in the second quarter of the year.- Australian tourism industry 'in good health'
There is an increased sense of optimism surrounding Australia's tourism industry, it has been suggested.
According to the South Australian Tourism Commission, the positive outlook which has been afforded to many countries in the Asia/Pacific region is shared down under.
The news is sure to interest buy-to-let investors in the destination, with the potential demand for their properties among holidaymakers likely to remain high.
Neil Saunders, UK marketing manager for the South Australian Tourism Commission, confirms that optimism from those in the industry is currently high, adding that tour operators in the region are also enjoying successes.
According to the latest figures from the RP data-Rismark Hedonic Home Value Index, price increases in major Australian cities have begun to slow - allaying fears that the market was heading towards a property bubble.
"This second consecutive month of single digit annualised gains sends a signal that the double digit growth rates recorded since January 2009 are behind us," Tim Lawless, RP Data's director of research, said.- Estonia set for euro adoption
Investors may be interested to learn that Estonia has been given the all-clear to enter the eurozone next year and adopt the single currency.
The European Union finance minister gave the country the final approval to become the 17th eurozone member last Tuesday (July 6th).
Potential property investors in the region are sure to see the news as a much needed boost for the eastern European destination whose economy faltered after falling into recession during the financial crisis.
"The euro … by itself does not make us smarter or increase our productivity," Reuters reported the central bank as saying in a statement.
"However, joining the euro zone means that trust in the Estonian economy is growing."
Politicians agreed that the exchange rate should be fixed at 15.6466 kroons to one euro.
Earlier this year, the International Monetary Fund predicted that thanks to a low budget deficit of 1.7 per cent, Estonia was on target for euro adoption by 2011.- UK house prices set for modest falls
Investors in the UK property market may be interested to hear the latest predictions from the Royal Institution of Chartered Surveyors (RICS).
According to the body, the surplus of real estate available on the market during the second half of 2010 is likely to lead towards residential prices in the country falling.
However, RICS claims that over the six-month period sales will gradually increase.
The June Housing Market Survey shows that demand from new buyers fell for the second time since October 2008 during the month, which reflects the uncertainty surrounding the economy.
"A shortage of stock has been one factor holding back transaction activity in the housing market, but the abolition of HIPS is helping to belatedly address this issue," said RICS spokesperson, Jeremy Leaf.
"However, with supply of property now beginning to outstrip demand, there is a risk of some modest slippage in prices during the second half of the year."
Meanwhile, there is likely to be an increase in activity within the central London property market now that the election and Emergency Budget have passed, London Central Portfolio has claimed.- Individuals becoming 'more selective' as Australian property market cools
Individuals looking to invest in Australian real estate may be interested to learn that the latest figures concerning the market indicate that there has been a decline in sales within major cities.
According to Australian Property Monitors, residential sales are now significantly lower than they were at the same time last year.
The statistics show that prominent cities within the country such as Melbourne, Sydney, Brisbane and Adelaide are no longer attracting the high level of interest which they once were.
National property consultant Damian Kininmonth, from Preston Rowe Paterson, said that the slowdown was a result of buyers becoming more selective.
"Obviously there were large volumes being transacted earlier in the year and people were really keen to get into the market," he added.
"But with the rising of interest rates, people are becoming more selective with their properties."
The latest RP data-Rismark Hedonic Home Value Index has shown that price rises in major cities in Australia are slowing and the number of new properties being sold is at a three-month low.- Foreign investors make up small percentage of US property market
Foreign investors made up four per cent of the US property market in the year to March 2010, new figures have revealed.
According to the National Association of Realtors (NAR), international buyers spent USD 41 billion on real estate during the time period.
The organisation explains that just over half of all the purchases made by foreign investors were in four states, with Arizona, California, Texas and Florida property proving to be the most popular.
In addition, the NAR stated that 55 per cent of these buyers paid for their real estate using cash, compared to 92 per cent of US buyers who opted for a mortgage.
Meanwhile, the US real estate recovery could be hampered by an oversupply of housing and an increasing number of foreclosed properties entering the market, Radar Logic has said.
The body claims that hopes of price escalation are likely to be dashed by the sheer weight of distressed and non-distressed property on the market.- LA looks to address US foreclosure problem
Property investors looking to pick up bargain distressed real estate in the US market will be pleased to hear that officials in Los Angeles are cracking down on owners who let their homes fall into a state of disrepair.
The move will mean that financial institutions such as banks and mortgage companies which often seize properties could face fines of up to USD 100,000 if their assets are found to have been neglected.
It represents the city's attempt to manage the 27,000 neglected foreclosed homes which are lowering neighbouring real estate values.
However, the move has been criticised by the California Mortgage Bankers Association, which believes that regulation is not the answer.
"Lenders and banks have a vested interest in keeping up homes because the better condition the house is in, the more money they are going to recover when they sell that house," Dustin Hobbs, spokesman for the company, said.
Individuals interested in Florida property may want to consider looking for distressed real estate, with foreclosed homes making up at least a third of all purchases, RealtyTrac has revealed.- Egypt posts successful half-year tourism figures
Egypt has managed to weather the storm and remain unaffected by the credit crunch and eurozone debt crisis, it has been claimed.
According to the country's tourism minister, Zoheir Garrana, tourism revenue has grown by 18 per cent in the first half of 2010 compared to the same period last year.
It takes the total revenue to USD5.58 billion over the timeframe, with the hope of reaching USD13 billion by the end of 2010.
Steven Worboys, managing director of Experience International, explains that many European countries had been hit hardest by the global economic crises.
"Holidaymakers are now focused on finding the best deals available, often looking further afield than usual to non-eurozone countries such as Egypt where their money goes further," he adds.
"It's certainly encouraging to see that tourism revenues are up and that the sector is accounting for 11 per cent of GDP."
The news may interest individuals looking to find property in Muhafazat al Bahr al Ahmar, with the destination home to the popular tourist spot of Hurghada.- Interest in Turkey 'not just for the summer months'
Investors who have bought property in Turkey will be pleased to hear that interest in the country from holidaymakers is likely to last all year round.
This is the belief of the Turkish Culture and Tourism Office, which has said that the potential for winter and summer holidays in the destination will ensure that interest remains high.
Irfan Onal, director of the UK office, claims that the naming of Istanbul as the European Capital of Culture has helped to bolster individuals' awareness of Turkey as a travel hotspot.
"With many Mediterranean cruises stopping off there and with low-cost airlines servicing it, it is expected to attract many foreign visitors this year," he adds.
The news is likely to please those who have Antalya real estate listings, with the Turkey's buy-to-let market likely to be boosted by an increase in tourist numbers.
According to the latest data from the Turkish Directorate General of State Airports Authority, the country's airports welcomed 44.6 million passengers during the first six months of 2010, which is a 24 per cent increase compared to the same period of 2009.- Strength of sterling 'could put off investors'
Recent exchange rate improvements could force UK-based investors to distance themselves from the overseas property market until sterling reaches its peak, it has been suggested.
According to Rightmove.co.uk, real estate speculators may wait for the pound to achieve its strongest point against the euro before buying property, as they try to call the "top of the market".
Robin Wilson, head of overseas at the company, explains that rather than encouraging people to buy, the improvement in rates could have the opposite effect.
"Without time pressure, rising sterling rates may have the opposite effect as people sit on their hands and try to call the top of the market before splashing out," he said.
Meanwhile, the Worldwide Property Group reported that 65 per cent of individuals questioned believe that now is a good time to buy a foreign home.
Among some of the more popular locations for potential investment are the European destinations of Spain, France, Italy and Cyprus.- Cyprus title deed fiasco 'still ongoing'
Individuals who are looking for or own property in Cyprus may be interested to hear about the latest development in the country's long-running title deed dispute.
The Cypriot government has so far unsuccessfully attempted to introduce no fewer than five bills to speed the process up, but any further progress will now have to wait until parliament re-opens after the summer break.
According to Yiannos Lamaris, the house interior committee chairman, the bill is unlikely to go before parliament again until October at the earliest.
Estimates have suggested that approximately 130,000 properties are without title deeds because they have been built illegally.
Meanwhile, investors who are looking to find a home in Nicosia may be interested to learn that sales in the region are still rising, despite the crisis.
Earlier this year, it was revealed that the Cypriot government was planning to increase property tax to combat the recession.
The Cyprus Property News website claims the move will allow an additional EUR10 to EUR20 million in fees.- Thailand experiencing tourism revival
Individuals with property in Chon Buri, Thailand, may be pleased to hear that the country is experiencing strong bookings once again following a period of political uncertainty, a leading tour operator has suggested.
Hayes and Jarvis has revealed that despite all the recent troubles experienced by the Asian destination, the availability of cheap flights has contributed to an upturn in fortunes.
Neil Alobaidi, commercial director for the global tour operator, explains that there are some good deals for holidaymakers to take advantage of in the long-haul holiday market.
"While the political instability definitely dented bookings in the short term, while the country was hitting the headlines, Thailand has now turned the corner and bookings for Phuket and Koh Samui are exceptionally strong," he adds.
Mr Alobaidi's comments come after the Tourism Authority of Thailand announced that it would be running a range of promotional strategies to tempt visitors back.
Official figures show that there was a 6.8 per cent decline in visitor numbers in June compared to last year.- Owners deciding to keep commercial property off the US market
The decision of property owners in the US to keep real estate off the market has had a profound effect on the level of sales in the country, new data has shown.
According to statistics released by Real Capital Analytics, the amount of commercial property sold in the first half of 2010 stood at just a quarter of the average seen in the past six years.
A lack of available real estate has been cited as the primary reason for the low level of deals, with frustration beginning to mount among prospective buyers.
"When something does come to market, that lack of supply is causing almost a feeding frenzy," Alan Kava, co-head of Goldman Sachs Group's Real Estate Principal Investment Area in New York, said.
"People have real estate funds that are not on an infinite time line, they need to put capital [in] to work."
However, the residential sector is faring better, with a surplus of foreclosed homes currently selling for up to 27 per cent less than other real estate.
The latest figures from RealtyTrac show that distressed sales now account for at least a third of all Florida property purchases.- French leaseback likely to tempt investors
The number of investors looking to purchase French leaseback properties is expected to rise steeply in the coming months, it has been claimed.
Speaking to Overseas Property Professional, Athena Mortgages has predicted that the product is likely to benefit from the introduction of a number of 100 per cent mortgages.
Previously, the news provider claims that UK-based investors have found it difficult to secure leaseback properties in the country because of strong competition from native buyers.
However, the new products are expected to raise interest levels in the market from overseas property buyers.
Athena Mortgages director John Busby claimed that the "higher level of loan-to-value means there is very little money to transfer to France to complete the purchase".
"The developers I have spoken to expect demand for their leaseback properties to increase dramatically over the next few weeks as news of these finance products filters out," he added.
Individuals may want to look at Aquitaine real estate listings for their ideal leaseback property, with the region home to the popular tourist and wine-making destination of Bordeaux.- Buyer's market appearing in the UAE
Individuals looking to buy property in the UAE will be heading into a buyer's market, with falling prices and oversupply driving demand from prospective purchasers.
The latest report from property consultant Cluttons has revealed that investors are increasingly finding themselves in a favourable position when buying real estate in the emirate.
In particular, a drop in value of property in Dubai is likely to lead to an increase in demand for homes in the region.
Steve Morgan, head of Cluttons UAE, explained that buyers now had the ability to negotiate with vendors.
"Ongoing price reductions have opened up the Dubai property market for a wider selection of potential purchasers, who are becoming increasingly discerning in their property search," he added.
"Whereas once the landlord or seller held a strong position, we now see buyers negotiating with landlords to bring prices well below the asking price."
The government has introduced a new guarantee for investors in the region, which aims to ensure projects are completed and finance secured.- Investors assured that 'long-term view' is sensible
Those looking to buy overseas property have been reassured that taking a long-term view when it comes to purchasing real estate is the sensible thing to do.
According to Robin Williams, head of overseas at Rightmove, current market conditions mean that there is very little "time pressure" on foreign investors to complete deals.
As such, the expert recommends buyers are not rushed into finding bargain properties.
Individuals looking at Florida property may be interested to learn that high volumes of supply in the US mean that there is a large possibility of finding a bargain.
"Further afield there will be good deals, but agents finding it hard to shift property in less travelled locations tend to reduce their marketing so it may be hard to sniff them out," Mr Williams adds.
His comments come after research from the Worldwide Property Group found that 62 per cent of people were considering buying a home abroad, with the sunshine state remaining a popular destination for potential investment.- Restrictions to Brazilian land ownership 'will not affect property investors'
A leading investment organisation in Brazil has reassured property investors that new rules pertaining to the purchase of land will not have a negative effect on their existing portfolios.
Speaking to Overseas Property Professional (OPP), Felipe Cavalcante, the president of the association for inward investment in real estate in Brazil, ADIT, said that the changes would only be applied to agricultural land.
"Any changes in the future would have no impact at all on people who have already invested in real estate," he confirmed.
Furthermore, Raymond Smith, a partner at Magno Smith, told OPP that the Brazilian constitution would also work in an investor's favour and prevent the authorities from reclaiming land.
The government in the country is looking to introduce a number of strict regulations which will prevent overseas buyers from purchasing agricultural land.
According to ministry spokesperson Denise Mantovani, ten million acres of land in Brazil was registered to foreigners by 2008.
The news is sure to please those who have invested in property in Mato Grosso, although agriculture plays a large part in the region's economy.- Bulgarian property prices continue to fall
Individuals interested in purchasing real estate in eastern Europe may be interested to learn that prices in the Bulgarian capital of Sofia have continued to fall throughout 2010.
According to a report by Colliers International, the rate of decline has slowed when compared to 2009, but still makes up an annual fall of 17 per cent.
Among the districts which saw the greatest falls in prices are Manastirski Livadi, Vitosha, Buxton, Krustova Vada, and Gotse Delchev, down 19 per cent an annual basis.
The study cited a large increase in supply and greater willingness from sellers to negotiate as the primary reasons for the decline in values.
Tatiana Emilova, manager at Colliers International Bulgaria, confirmed that the "increased choice of [housing] supply, together with alluring price tags and the readiness of vendors to offer flexible solutions with suitable credit conditions," was bolstering the market.
The news is sure to have an influence on the number of potential investors looking to buy Sofiya Property and capitalise on its current bargain prices.- Bulgaria offers visitors a 'diverse culture and cheap prices'
Bulgaria boasts a rich and varied culture and a historical heritage which is sure to make it a popular destination for holidaymakers this year, it has been suggested.
In news that may interest individuals looking to rent out real estate to travellers, the Bulgarian Embassy has encouraged tourists to experience the European destination.
Desislava Naydenova, from Press and Cultural Affairs at the embassy, said that the country offered visitors a diverse mix of culture, while also being one of the best value-for-money places to visit.
Ms Naydenova was speaking in response to recent research from Tesco Travel Money, which highlighted the eastern European destination as a bargain spot for potential holidaymakers.
"The results of the research highlight one of the main advantages of Bulgaria as an attractive tourist destination, namely - the combination between high quality and wide variety for tourism on one side, and reasonable prices on the other," she said.
The news may lead to an increase in the number of investors looking for homes for sale in Silistra, with the region boasting some interesting historic landmarks.- UK first-time buyers look to overseas property markets
An increasing number of first-time buyers in the UK are being drawn to the overseas property market amid concerns of inflated prices for real estate in their home country.
New research, conducted by Moneycorp, has revealed that young buyers trying to take their first steps on the housing ladder are increasingly looking overseas for a more affordable alternative.
The firm found that the most popular destination for Brits was Australia, with its strong currency and growing economy encouraging property buyers to look for real estate down under.
"Despite turbulent economic times our report shows that a staggering one in four first-time buyers are still considering investing in overseas property at the moment," says, Moneycorp private client dealing manager, David Kerns.
"When looking to buy property overseas almost one third of first-time buyers consider currency to be of top priority. While the pound is currently rallying at a 19-month high, it has been a bumpy couple of years."
According to the latest Knight Frank property price index, Australia has enjoyed a 20 per cent price increase in the last year.- Government guarantee aims to boost confidence in UAE property market
A number of developments in the UAE have been shortlisted to be covered by the first phase of a new government guarantee designed to improve confidence in the emirate's property sector.
The Dubai Land Department-backed initiative assures investors that finance and completion for certain developments can be secured.
Named the Tayseer system, the first phase of the project is aimed at increasing liquidity and confidence in the sector, Sultan bin Butti bin Mejren, director general of the Land Department, said.
"Through this and other related initiatives the department is introducing a different, comprehensive and coherent level of strategic management to Dubai's property sector," he added.
"This will offer clear transparency and in doing so inspire confidence among developers, end users and all those with an interest in Dubai's property sector."
Currently, a total of 40 projects have been shortlisted for inclusion on the scheme and once approved they will receive a government guarantee that they will be completed by a specific date.
Meanwhile, Jones Lang LaSalle has predicted that office vacancy rates in Dubai are likely to exceed 50 per cent over the next year.- Improving jobs market helping US property recovery
An improving jobs market is helping to bolster the recovery of the US property market, with sales of apartments in Manhattan currently at their highest level since 2008.
According to the latest figures from Miller Samuel and broker Prudential Douglas Elliman Real Estate, apartment sales have grown by a massive 80 per cent in the second quarter of 2010 compared to last year.
"What we're seeing is the first step in an improving housing market," said Jonathan Miller, president of Miller Samuel, adding that a return in buyer confidence was boosting sales.
Meanwhile, Radar Logic has claimed that oversupply and an increasing number of foreclosed properties entering the market is holding back full recovery.
The organisation says that hopes for future price appreciation on property could be negatively affected by the "inventory overhang of distressed and non-distressed homes".
However, individuals looking for bargain Florida Property may wish to take advantage of the plethora of distressed real estate currently on the market.- Spanish property sales up in Q1
Sales of Spanish property have risen steadily in the first three months of the year, with the weak euro and bottoming market contributing to a boost in confidence among buyers.
According to data released by the College of Registrars, there has been a 7.04 per cent increase in activity during the first quarter of 2010 compared to 2009 and this represents an 18-month high for sales volumes in the Spanish real estate market.
Chris Mercer, director of estate agent Mercers, has experienced the change of fortune during the first three months of the year, with an increase in interest of 157 per cent over the period compared to last year.
"Based on the number of enquiries we're receiving, [we] feel optimistic for the rest of the year," he explained.
"It seems that would-be Spanish property buyers are fed up of waiting in the wings and now want to make the most of a soft market."
In addition, the trend was reflected by recent data from housing portal Rightmove, which recorded positive results for the market during May.
Spain topped its enquiry list and showed that confidence is returning among British investors and buyers.
The news could lead to an increase in the number of individuals looking to Search for Properties in Valencia, with buy-to-let investors able to capitalise on the destination's popularity with tourists.- Spain proving a popular destination for tourists
Spain is still proving to be a popular destination for travellers looking for a sun and beach holiday, property investors in the country may be interested to learn.
According to cheapflights.co.uk, British holidaymakers are looking to escape to warmer countries, with Spain topping the list of potential destinations.
Nadine Hallak, a spokesperson for the flight comparison website, explains that the country's four main resorts of Malaga, Alicante, Palma and Tenerife are ideal for any traveller on any budget.
"These Spanish favourites are best-known for the 'fly and flop' and they provide many ways to do this," she said.
Meanwhile, Ms Hallak recommended that travellers take advantage of Spain's diverse culture when they visit, as "it would be a shame to miss the country's beautiful architecture, delicious cuisine and vibrant nightlife on any holiday".
Skyscanner's Flight Trends June 2010 report found that a number of Spanish destinations topped the list of the most popular spots for holidaymakers.
Individuals who own Andalucia property may wish to capitalise on the region's expansive coastline, which is home to some popular tourist destinations.