Hollywood A-list stars Antonio Banderas and Melanie Griffiths have been ordered to hand back some of their Spanish land thanks to the current Spanish crackdown on illegal properties.
The couple have been ordered to hand over 14,000 square feet of land from their $10 million Spanish beachfront home. The land in question is the area from the beach up to the edge of their 40 foot long swimming pool. The beach will now be given public access. Read more... (254 words, estimated 1:01 mins reading time)
Potential Australian property investors have been delaying purchases in the country thanks to the Australian government’s grant scheme for first time buyers.
According to a recent poll, around three quarters of Australian real estate investors have said that they are waiting until the first home owners scheme expires in December before they invest in any more property.
The major reason cited is that the home owners grant has increase competition significantly meaning the market is crowded and house prices are being artificially boosted. Because of this, many property investors are getting their finances in order and waiting until the market becomes less crowded. Most of the real estate investors have said they are planning to buy property in Australia again in either 2010 or 2011. Read more... (245 words, estimated 59 secs reading time)
A new report by Savills Research has shown that central London residential property prices grew for the first time since they starting sliding in September 2007. Over the past three months, property prices in central London rose by 4.3%.
Partly the rise has been fuelled by property investors believing that the housing market is nearing bottoming out and therefore property bargains can be had. There is also a lack of good quality property on the market so when good properties have a For Sale sign on them, they are being snapped up quickly at close to the asking price. Central London is also perceived as a good area to buy in as it is relatively low risk compared to other major city properties as it is home to so much business and there will always be a good supply of renters who are professionals. Read more... (282 words, estimated 1:08 mins reading time)
By ForeignPropertyBuyer on Friday, June 26, 2009Filed Under: Italy
Venice is one of the most beautiful of the Italian cities and is unique in that it stretches across 118 small islands in the marshy Veneitan Lagoon. Famed for it’s beauty, many of the property owners in Venice are very wealthy and the best-positioned, most beautiful homes will usually have price tags with eight-figures on them.
However for property investors who wish to invest in property in Venice, Italy, it is possible to buy Venetian property for a lot less money. Read more... (528 words, estimated 2:07 mins reading time)
By ForeignPropertyBuyer on Thursday, June 25, 2009Filed Under: Australian Property
Overseas property investors who are looking to purchase properties or real estate in Australia may be boosted by a change in the Visa rules. From the 1st July 2009, holders of class 410 visas will now be able to work in Australia without restriction. Previously, holders of class 410 visas were restricted to working 20 hours per week only.
Visas issued up until the end of June will still have the restriction attached to them however if the holder reapplies for the visa and it is granted, they will no longer have the work-time restriction. Read more... (193 words, estimated 46 secs reading time)
Property experts have claimed that Dubai is one of the riskiest countries to invest in property at this time. It is claimed that the oversupply and declining population means that the Dubai property bubble is likely to burst in the near future meaning many property investors will lose money on their investments.
Some have likened Dubai’s current housing market to Hong Kong’s market at the start of the decade when it experienced a housing crash, and also draw similarities to Singapore and Ireland who have a history of boom and bust cycles in their property markets. Between 1997 and 2003 Hong Kong saw many real estate prices plummet as much as 70% meaning many property investors lost a lot of money in a very short space of time. Read more... (200 words, estimated 48 secs reading time)
