Germany’s Walls of Investment Come Down

Property prices in Germany are falling, while those in countries throughout the rest of the world are soaring, prompting some to believe it is the perfect time to pick up a bargain German property.

Reports in The Telegraph show that Germany is at the bottom of the Knight Frank Global Price Index while Latvia tops the chart, followed by Poland. Both of these countries neighbour Germany, yet the latter is seeing prices falling by 3.2%, despite having the EU’s biggest economy and population. Factors such as these are putting it firmly on the real estate investor’s radar.

Prices remain low in Germany due to a number of factors: supply of homes has far outstripped demand; renting has become much more attractive than buying, thanks to strict rent controls; and the cost of buying is high (around 12% of the purchase price), as well as the difficulty of attaining mortgages.

Estate agents are now beginning to sell properties to foreigners for investment - the most promising investment markets are currently in Hamburg, Berlin, Dusseldorf, Frankfurt, Stuttgart and Munich.

Knight Frank's Liam Bailey advises that "Investors should…..look more closely at the German sub-markets…..that's where the hot spots are".

Turkish Property Increasingly Popular Among German Buyers

The popularity of Turkey as a destination for property investment and holiday homes has risen among Germans, according to research recently conducted by the Turkish Research Centre (TAM).

The number of Turkish properties purchased by German buyers has almost doubled since 2002, and 14% of Germans are now positive about the idea of buying real estate in the country. Data from a nationwide survey of German people carried out in 2002 showed that 5% would be interested in purchasing Turkish property for a holiday home, 2% were interested in buying Turkish real estate for investment, and a quarter of Germans questioned had visited Turkey. However, the same questions asked three years later revealed that 35% of respondents had visited the country, 10% were considering the purchase of a Turkish holiday home and 5% were interested in purchasing Turkish land as an investment.

Of the German people questioned, the highest proportion of potential buyers was found in the 35 – 40 year-old age group, with an average income of €3,500 a month. At the moment, there are over 15,000 pieces of Turkish real estate under German ownership.

The TAM’s Dr. Martina Sauer predicts that German interest in the purchase of Turkish property will increase, which she attributes to the country’s history, climate and natural beauty.

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Global Property Investment Set to Grow

A survey carried out by Australian Fund Managers, Macquarie Direct Property (MDP), showed that global property assets were the most popular investment choice of investors. In order to diversify their portfolios and attract higher returns, investors are increasingly putting their money into global property investment. Over 93% of financial advisers surveyed stated that they had seen a rise in the number of clients looking to invest in real estate from around the world. Almost half stated that they advised their clients wishing to diversify their portfolio to invest in global property.

In addition to this desire for diversification, investors were found to be drawn to the bullish growth outlook offered by overseas markets. MDP General Manager, Richard Stacker, said: "Global direct property diversifies risk across geography, property sub sectors, tenants, capital sources and currency, and provides a valuable new source of new growth and income for savvy investors."

Global property funds have mainly been based in areas such as the United States and the United Kingdom up until now. However, there has been a recent move to expand investments into emerging markets. Overall, the report found that global property was becoming a “mainstream fixture” on the investment landscape.

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Capital Gains Tax on Property Scrapped by Malaysia in Bid to Promote Investment

Malaysia has announced plans to abolish Capital Gains Tax payable on property, as well as implementing a system of incentives to attract foreign investment into the country’s southern state of Johor. Industries including tourism and financial services will have exemption from Corporate Income Tax for ten years.

Malaysia’s Prime Minister Abdullah Ahmad Badawi intends to boost growth in his country’s economy through increasing investment levels. The redevelopment of the Johor region is expected to cost $109 billion and create 800,000 jobs over the next twenty years, transforming the region into a centre for business and tourism.

These latest plans add to a number of incentive systems introduced by Malaysia to attract investment into the country. Earlier this year, Malaysia cut the rate of Corporate Tax by 1% down to 27%, and introduced incentives to real estate trusts and Islamic finance institutions. In December, Malaysia first began to relax the regulations surrounding property investment by foreigners. Before the Capital Gains Tax on property was scrapped, foreign buyers were liable for a 30% tax for the first five years, reduced to 5% from the sixth year onwards.

The removal of Capital Gains Tax on property could cost the government 200 million ringgit annually (almost $58 million) which accounts for 0.2% of government revenue, according to estimates by OSK Research Sdn economist Sia Ket Ee, but abolishing the tax will attract increased foreign investment.

Malaysia’s economy of $147 billion is forecast to reach a three-year high in growth in 2007, according to the Central Bank earlier this month, and Bank Negara Malaysia predicts it will follow last year’s growth of 5.9% with expansion of 6% in 2007.

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Istanbul Receives $705 Million Investment From Dubai Holding Property Unit

Sama Dubai, the Dubai Holding property unit, yesterday made the winning bid for land in Istanbul’s business district, spending $705 million on the 46,241 sq. m. area, which is to accommodate a new business and leisure complex called ‘Dubai Towers’.

The investment will provide Turkey’s growing economy and already thriving real estate market with a new boost, and comes as the city’s second major tender for real estate this month. A winning bid of $800 million was made two weeks ago by Zorlu, a Turkish conglomerate, for a 96,500 sq. m. area of land in another district of Istanbul.

Sama Dubai gave its reasons for choosing Turkey as the destination for one of its largest projects as a combination of the potential for growth in its economy, and its position as a centre for business, trade and tourism. Sama Dubai originally planned to invest in partnership with the Istanbul municipality, from whom the real estate was purchased, but subsequently decided to enter a bid on its own. According to the mayor of Istanbul, Kadir Topbas, the value is to be paid in cash.

The company’s Chairman, Farhan Faraidooni, said: “We will now focus on our Dubai Towers project, the first step in our planned real estate projects amounting to a total of $5 billion.” The ‘Dubai Towers’ project will be added to Sama Dubai’s other projects in Casablanca, Qatar, Dubai, Bahrain and Oman.

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2007 Budget Brings Positive News for Overseas Property Industry

Yesterday saw Gordon Brown deliver his eleventh Budget, and the news for owners and potential buyers of overseas property was positive.

The main change that will affect owners of overseas property was the announcement that the benefits in kind charge, which applies to owners of overseas property who hold that property within a company, is to be removed. The benefits in kind charge applies if a buyer sets up a company to hold the title deeds of an overseas property. The buyer is currently treated as a director or ‘shadow director’ of that company, and as such they are liable for the benefits in kind charge for the benefit of spending time in a holiday home. The owner is currently charged on the ‘rental value’ of the time they spend in the property.

Other positive news for owners of overseas property was the decision by the Chancellor not to add VAT to the price of airline tickets, which keeps international travel affordable. Also, reductions to personal tax rates mean investment in overseas property will be accessible to more people.

Many people involved with the UK property market were hopeful that yesterday’s Budget would also include a change in the current thresholds for stamp duty, which are widely considered to be unfair and to inhibit first-time buyers from purchasing in the UK. Until first-time buyers are exempted from stamp duty, or the duty is changed so it is charged in ‘steps’ rather than the current ‘slab system’, then this is likely to make the UK a less appealing option for first-time buyers as well as families wishing to move up the property ladder. Therefore, interest in overseas property can be expected to rise.

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Reforms Mean Greater Opportunities in the Eastern European Property Market

Eastern Europe has been named as the top region worldwide for real estate investors over the last year, according to an article published in The Independent. The countries of Eastern Europe have left behind many of the problems that once would have put off potential investors, and now offer secure and exciting investment opportunities.

Today’s Independent article points to a Knight Frank quarterly index that ranks Latvia, Bulgaria, Lithuania and Estonia in the top 10 for property price growth worldwide. Knight Frank’s head of residential research, Liam Bailey, says: “The price rises are part of a longer term process affecting countries in the old Eastern bloc”.

Among the countries mentioned for their investment potential is Poland, which was ranked number one by the Royal Institution of Chartered Surveyors’ annual European housing market survey, with price growth of 33% in 2006. Poland is an example of an Eastern European country with a fast growing economy and rising foreign investment.

Many of the concerns about purchasing in Eastern Europe that once deterred potential buyers no longer apply. Outdated banking practices and confusion over land ownership are no longer a concern for most countries. The performance of some countries is still affected by issues resulting from the early stages of their modernisation. Hungary, for example, was ranked 28th in the Knight Frank price growth index. However, this is partly due to the large supply of older, poor quality properties in the market alongside the newer properties of better quality, the resulting competition driving down prices in both sectors. Such problems are short-term issues and should not deter investors. The area as a whole has left behind the more integral problems of the past, such as prohibiting foreigners from buying property and the frequent lack of transparency in the purchase process, and is enjoying success as an investment destination as a result.

UK First-Time Buyers Choosing to Invest Abroad

First-time buyers in the UK are increasingly making their first house purchase overseas, after finding themselves priced out of the UK market, according to the latest ‘Quarterly Savings Survey’ released by National Savings and Investments and reported in The Observer.

The trend for UK buyers getting onto the property ladder by purchasing abroad has been noted by Conti Financial Services, an overseas mortgage specialist. The company has noticed a rise in the proportion of their business coming from first-time buyers, as well as an increase in the number of enquiries received since Eastern European countries Bulgaria and Romania have joined the EU.

The ‘Quarterly Savings Survey’ found that a quarter of first-time buyers questioned would consider moving abroad in order to save for a deposit to buy in Britain, and a fifth would consider moving to Eastern Europe. Of the different age groups included in the survey, it was found that younger buyers were most likely to consider moving abroad, with over a third of 25-34s willing to relocate. Just under a third of 35-44s would be willing to relocate.

This raises the question of whether, having bought a property abroad and lived there for a number of years, this new generation of first-time buyers would still wish to return to the UK, as opposed to continuing to invest their money overseas where the same money can often buy a larger house in a prime location.

European Property Investment Shows 46% Year-On-Year Increase

According to a new report, the 2006 turnover in the commercial real estate investment market has shown an increase of 46% on the previous year, up to €227 billion.

The CB Richard Ellis European Investment Report was released at the 2007 MIPIM exhibition attended by Obelisk International earlier this month. It revealed that the commercial real estate market as a whole has almost doubled in size since 2004, as it experienced similar growth between 2004 and 2005.

The German market showed the greatest level of growth, from €20 billion in 2005 to in excess of €51 billion a year later. However, the markets of the Central and Eastern European countries have also demonstrated a significant increase in turnover. The highest growth was in the Russian market, although transactions in Bulgaria and Romania also increased considerably before their admission into the EU in January 2007. The report showed that the level of investment from overseas buyers has risen by 70% to over €100 billion, now accounting for nearly half of all transactions. The number of non-European investors has increased, with particular growth in the number of buyers from the US. The number of buyers from Canada and Australia has also risen.

Head of EMEA Research at CB Richard Ellis, Nick Axford, attributes the growth to two trends: “The aging population of many developed nations has increased the level of savings looking for a home, while at the same time investors are recognising that real estate has characteristics that are well suited to the needs of such savings.”

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New Mayor Aims to Put Tangiers Back on the Map for Investors

Over the past sixty years, the Moroccan city of Tangiers has enjoyed a changing reputation: from being the destination of choice for celebrities after the Second World War, it was then known as a hippy retreat during the sixties and seventies, and more recently as a scruffier and less popular alternative to other, fashionable Moroccan destinations. However, the climate in Tangiers today is one of development and improvement, as several projects to re-generate and develop the area are taking place.

The driving force behind this change is Tangier’s newly appointed mayor, Mohamed Hassad, who was directed to go to the city by the Moroccan king in 2005 to revamp Tangiers in the same way he did with Marrakech five years previously. Tangiers is well-served by transport links; it is currently waiting on the development of a tunnel from Punta Malabata near the city, to Spain. There is already a car ferry from Spain that takes only 35 minutes, and soon the Tangier’s docks will be revamped and reserved only for passenger use, with the freight port moved along the coast.

Hassad considers overseas investment in Tangiers property to be fundamental to the city’s long-term success. Buyers have a choice between purchasing a traditional Moroccan property such as a riad within the kasbah, or one of the more affordable new properties being built around the city.

Morocco’s Government aims to boost the number of overseas visitors from 6 million as it is currently to 10 million by 2010, and the country’s mortgage market is also becoming more sophisticated. Mohamed Hassad therefore has reason to be hopeful about the level of interest from overseas property buyers over the coming years.

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Investors Explore Alternative Destinations in Florida

Florida has long been popular with house buyers in the US as well as overseas; up to now the most popular destinations were those dotted along the coast of the Gulf of Mexico, rather than the more windswept Atlantic Coast. However, properties along the Gulf Coast are priced accordingly high and many of the more popular areas have become overcrowded.

In search of a cheaper and more peaceful alternative to the Gulf Coast, buyers are increasingly exploring areas along the Atlantic side. Many have discovered real estate along the banks of the Indian River, which is fact an estuary stretching 150 miles from above Miami to near Cape Canaveral. The Indian River has a lagoon, set between the Florida mainland and a number of narrow islands, which is becoming very popular with homeowners. The supply of land in this area is considerable due to the expanse of coastline and the land created by the meandering course of the river.

Although the largest houses of Indian River are priced at a premium, ordinary properties in the area are currently available at affordable prices. Buyers can pick up a small apartment or house for under £50,000, or a large house in a good area can be bought for under £250,000. It has been reported that now is a good time to purchase. Although prices were high last year, they have now dropped to a more realistic level and a future, steady growth in prices is expected over the next few years, with a forecast rise in population.

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US Buyers Anticipate Rising Property Prices in Nicaragua

Central America is a traditionally popular destination for second-home buyers from the US. Costa Rica is one of the most popular Central American countries, but in some ways it has suffered as a result of this popularity. Property is less affordable than it once was, crime levels are higher and its natural beauty has been marred by over-development. However, neighbouring Nicaragua is now offering property buyers an alternative. Prices are much lower: a condo in the Nicaraguan coastal village of Managua can be sold for around $129,000, compared to a similar property in Costa Rica’s Guanacaste province which can cost from $500,000 upwards.

Nicaragua offers buyers a number of towns and villages unspoilt by foreign investment, with a ‘small-town’ feel and traditional properties. The disadvantages that come with this include its six-month rainy season and generally undeveloped infrastructure. The electricity supply is unreliable, and there is a lack of medical care available. However, US investors continue to be encouraged by its low crime levels, quality of life, straightforward purchase process and tax incentives. Buyers usually have to pay cash for their property; mortgages are available from Nicaraguan banks but interest rates are high.

For those buyers who regard a property in Nicaragua as their opportunity to access a rising property market in its early stages, the country’s political future looks promising. Last November a former president of the country, Daniel Ortega, was re-elected, with a new framework of policies intended to take Nicaragua’s economy forward through tourism and foreign investment.

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Global Real Estate Investment Reaches $900 Billion

According to Jones Lang LaSalle’s latest global real estate capital report, ‘Moving Further and Faster’, the amount of capital invested in real estate worldwide has reached the $900 billion mark. Out of the $900 billion, $682 billion has been invested in commercial real estate, multi-family residential investments account for $170 billion and privatised Real Estate Investment Trusts, along with other listed real estate owning entities, account for $48 billion.Guy Hollis, International Director of Jones Lang LaSalle’s International Capital Group, says “There is currently a large overhang of investment targeting the sector with $5 of money chasing every $1 of product. Global real estate markets performed very strongly throughout 2006… Investment was driven by increased allocations to the asset class, growth in investible stock and by the increased attention of opportunistic private equity players who identified relative value in the sector.”

The report states that the emerging markets had a strong year in 2006, with over $40 billion of transactions recorded. Many of the emerging countries showed staggering rates of growth: the Russian market saw growth of over 700% during 2006, with China, Turkey, Mexico and Brazil also seeing strong deal flow.
Mr Hollis says, “Real estate fundamentals remain strong, with solid economic growth projected, vacancy rates remaining low in most major markets, and development pipelines remaining modest.”

Obelisk International Launches Tuzla Lake Apartments in Bodrum, Turkey

Tuzla Lake Apartments is the latest investment project from Obelisk International: 114 apartments with on-site facilities on the outskirts of Bodrum.

Obelisk International chooses Tuzla Lake Apartments as its latest investment opportunity. The complex of 114 studio, one and two bedroom apartments is near to the popular resort of Bodrum in Turkey and is four miles from the nearest beach. The apartments are built in a modern, mediterranean style and each come with a private parking space, while most have lake and golf course views.

The Tuzla Lake site is developed across 17 two storey blocks with all apartments located on the first floor having rooftop terraces. The entire site has restricted and secure access and there are gardens planted throughout. On-site facilities include two swimming pools and a clubhouse with showers and changing area. Tuzla Lake is three miles from the Vita Park development which has two 9 hole golf courses and one 18 hole golf course.

The chosen location for Obelisk International’s latest project is on Turkey’s Bodrum Peninsula. This popular tourist area has a consistently high amount of international and domestic tourists due to its natural beauty and the amenities on offer in the busy port of Bodrum itself. Tuzla Lake Apartments are ideally positioned to benefit from all that the region has to offer.

The growth in Bodrum’s tourism is being felt in the local property market. Investors are reporting healthy rental yields as well as inherent capital growth – prices in the area have risen by 25% in the past year. Obelisk International’s Market Analyst, Veronica Castro, explains: “The Bodrum Peninsula region is a vital one for Turkey in terms of real estate investment. It’s established amenities and location near to an international airport means a steady flow of tourists, yet the area still has underpriced property available. All signs are that prices will not stay low for long.”

For more information on investment hotspots and to find out about Obelisk International's exciting new projects, contact Kevin Prior, Sales Director, Obelisk International. +34 952 820 319 or kprior@obeliskinternational.com

About Obelisk International.

Obelisk International offers investors opportunities to invest in various selected real estate projects from around the world. Investors are offered involvement in ventures that represent unrivalled opportunity, potential and ultimately, return on investment. The service they provide to investors is based upon three key aims: price, profit and performance.

CONTACT

Press Contact: Santiago Sanchez-Lozano, Marketing Director, Obelisk International, +34 952 820 319 or santiago@obeliskinternational.com - http://www.obeliskinternational.com/

U.S. Company Ploughs $1 Billion Into Mexico Real Estate

A luxury real estate construction company in the United States is to invest over $1 billion in Mexican real estate in order to profit from the US demand for second homes on the beach. The Related Group Inc. and its Mexican partners have secured land on which to build hotels and luxury apartment complexes in Playa del Carmen, Puerto Vallarta and Acapulco, among other locations in the country.

Low property prices in Mexico, its proximity to the United States and the fact that so many US residents are looking for luxury second homes, have led companies such as this to pour investment into the region. The weather and natural beauty of Mexico, particularly the coastal regions, make it highly desirable to nearby US residents looking for an easily accessible secondary residence.

Luxury beach property in Mexico is available at a fraction of the price of its US counterparts. A high-end beachside apartment in Puerto Vallarta that costs $300 a square foot will cost around five times that in Los Angeles, for example.

Mexico is increasingly attracting foreign investment from firms wanting to tap into the property market while prices are still low. Resorts such as Cabo San Lucas and Playa del Carmen are among the chosen locations for well-known international brands constructing hotel and apartment developments.

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Obelisk International Recognises the Potential of Real Estate Market in Bodrum, Turkey

In Turkey, where the economy has grown at a rate of 7% for four consecutive years, and the tourism market makes up 10% of the country’s employment, Obelisk International has identified the town of Bodrum as a wise choice for the potential real estate investor, for a number of reasons.

As one of Europe’s most promising emerging property markets, Turkey is attracting attention from overseas property investors for a host of reasons, from its growing economy, fast-growing population, and positive outlook for tourism. Within this exciting climate, Obelisk International has identified the Bodrum Peninsula as having particularly strong potential as an investment choice this year.

Of all the visitors to Turkey, around 70% go to Bodrum, so its popularity as a tourist destination is already established. The town’s exciting nightlife ensures its popularity with young people, both Turkish and foreign visitors, which supports the strong demand for property in the town. Bodrum has already established a reputation as one of Turkey’s more upmarket destinations, and development is on-going. Recently, a new airport and two new marinas have been added to the list of amenities Bodrum already offers.

The Obelisk International research team has recognised the Bodrum area as unique within Turkey as it offers investors the benefits of an established resort, but with the advantages of an emerging market. Over the last few years, the improvements to its infrastructure have led to an increase in real estate prices of between 40-50%. However, despite these prices rises, property in Bodrum is still easily affordable by the standards of overseas investors, and has strong investment potential for the future.

Bodrum has attracted a growing British community over recent years – around 2,000 Britons in the last six years – which means that there is a larger number of English speakers in the town, making it a more appealing option for British holidaymakers and those wishing to relocate. Bodrum is also drawing increasing attention from Turkey’s considerable domestic market, as more and more Turkish celebrities are choosing to spend their holidays in the area.

Recent reports have revealed the latest attraction Bodrum has to offer visitors. In order to avoid the traditional lull in visitor numbers (and so rental returns) experienced during the low season, Bodrum is moving into spa tourism. Bodrum’s Hotel Kempinski Barbaros Bay, which opened last year, is the first to focus on spa tourism, and more are expected to follow.

Market Analyst at Obelisk International, Veronica Castro, comments: “As larger hotels move into the area, it is forecast that this will open the doors for winter tourism generally, with increased charter travel and more facilities open year-round. This will benefit the economy of area, and means a positive outlook for buy-to-let investors.”

For more information on global investment opportunities and to find out about Obelisk International's latest projects, contact Kevin Prior, Sales Director, Obelisk International. +34 952 820 319 or kprior@obeliskinternational.com

About Obelisk International.

Obelisk International is a real estate investment company providing global investment opportunities that offer security, tangibility and impressive financial performance. Their service to investors is based upon three main principles: price, profit and performance.
CONTACTPress Contact: Santiago Sanchez-Lozano, Marketing Director, Obelisk International, +34 952 820 319 or santiago@obeliskinternational.com - http://www.obeliskinternational.com/

Obelisk International Announces its Latest Investment Opportunity: Alpine Lodge in Bansko, Bulgaria.

Obelisk International launches Alpine Lodge: a four-star ski and golf apartment resort in Bulgaria’s most popular ski resort, Bansko.

Alpine Lodge is a four-star apartment resort located in Bansko, South-Western Bulgaria, offering world-class skiing and golf amenities. The complex consists of 123 fully furnished studio, one- and two-bedroom apartments built to high specifications. The development includes an onsite spa centre with sauna, Turkish bath and massage/treatment area, a fully equipped gymnasium, and a swimming pool and jacuzzi.

Obelisk International reveals that further on-site facilities include a restaurant and wine bar, retail outlets and a convenience store, lobby and lounge and a children’s play area set in the development’s landscaped gardens. Alpine Lodge has a reception area, along with 24 hour CCTV security, and ample car parking.

The complex is situated in a rapidly expanding area of Bansko, linked by a newly built ring road to the nearby ski gondola lift and in close proximity to Bansko’s golf courses. Bansko itself is located at the foot of the Pirin Mountains, a region that is a World Heritage Site and a national nature reserve. Bansko has been chosen as the location for Obelisk International’s latest project for a number of reasons. The natural beauty of this region, as well as the well-known skiing facilities, attract tourists to Bansko throughout the year. To keep up with the demand from the growing tourist market, over 200 million Euros have been invested in the region over the last five years.

Kevin Prior, Sales Director at Obelisk International, elaborates: “Bansko was a natural choice for one of our projects due to the area’s recent massive investment and the year-round tourism market. Our analysts saw that the value-added facilities and high standards of the Alpine Lodge complex would provide real opportunities for capital appreciation and rental yield”.

Bulgaria continues to feel the positive effects of EU membership as more investors turn to the emerging market to take advantage of some of the lowest property prices in Europe and improvements to the Bulgarian infrastructure, services and facilities.



For more information on investment hotspots and to find out about Obelisk International's exciting new projects, contact Kevin Prior, Sales Director, Obelisk International. +34 952 820 319 or kprior@obeliskinternational.comAbout Obelisk International.Obelisk International offers investors opportunities to invest in various selected real estate projects from around the world. Investors are offered involvement in ventures that represent unrivalled opportunity, potential and ultimately, return on investment. The service they provide to investors is based upon three key aims: price, profit and performance.CONTACTPress Contact: Santiago Sanchez-Lozano, Marketing Director, Obelisk International, +34 952 820 319 or santiago@obeliskinternational.com - http://www.obeliskinternational.com/

Property Investors Seeking Capital Growth in Jerez, Spain

Real estate investors looking for a Spanish property, but hoping to avoid the over-developed areas along some coastlines are increasingly turning to the city of Jerez, according to a recent report in 'The Times'. Jerez is an inland city in Spain, 25 miles from Cadiz.

Jerez offers a number of traditionally positive features for investment. It is easily accessible, with an airport ten minutes from the city currently operating flights from Stansted, and starting a service from Manchester from March 23rd. Transport links within Spain have recently been improved, with a new motorway linking Jerez to Algeciras in the south, and other road improvements linking the city to the nearby beaches of the Costa de la Luz.

A property in the city also offers the potential for golf tourism; the Montecastillo golf course is located in Jerez, a well-established course designed by Jack Nicklaus 13 years ago, where the Volvo Masters took place for several years.

As well as the newer developments that are beginning to appear in the area, ambitious investors also have the option of renovating one of the old town’s palaces. However, these can be difficult to acquire as the owners of such properties rarely use estate agents, preferring a more discreet method of sale to avoid being seen to sell their family property.

It is not just overseas buyers that are looking to buy in Jerez. Cheaper properties in the city are popular with Spanish residents, and more expensive countryside properties in the area are sought after by more wealthy Spaniards.

Affordable Properties and the ‘Hobbit Effect’ Increase Demand for New Zealand Property

New Zealand’s stunning scenery was famously showcased in The Lord of the Rings films over the last few years, which ignited interest from overseas buyers in its property market. However, in addition to the country’s scenery, for many people New Zealand represents a safer and more environmentally conscious alternative to Britain, making it the fifth most popular choice for emigration for Britons.

New Zealand has only 4 million residents, despite being the same size as Britain, and the difference in cultures is minimal. For this reason, it is often considered to be like 1950s Britain, and accordingly is popular with those wishing for a more wholesome life but without a huge culture shock. However, the demand isn’t just from those making a lifestyle choice; a significant proportion of Britons wishing to relocate are farmers, hoping to make a better living in New Zealand.

From an investment perspective, the country has plenty to offer. The interest rate is high at 7.5%; however, capital growth in real estate averages 10% annually, which is predicted to continue due to the limited supply of properties. In addition to that, other financial incentives are the absence of capital gains tax, stamp duty, land or inheritance taxes. There is straightforward conveyancing, and purchase contracts are bound with a 10% deposit so there is no gazumping.

The most expensive city of New Zealand is Auckland, where the average house price is a modest £131,000. Studios are available for around £86,000 and are capable of generating £140 a week in rental income.

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Efforts to Limit Supply in St. Barts’ Popular Real Estate Market

The island of Saint-Barthélemy, more commonly known as St. Barts, is known for having some of the finest views in the Caribbean. However, as the popularity of property on the island rises, efforts increase to curb the effects of over-development and so retain the exclusivity that St. Barts currently enjoys.

Over the last twenty years, over a thousand overseas buyers have purchased or built second homes on St. Barts, a considerable number when the island is approximately only eight square miles. Unsurprisingly, given its size, demand for property exceeds supply, although the market is reportedly unpredictable with seemingly under-priced properties often going unsold while more ambitiously priced properties sell quickly. This is due to the kind of wealthy buyer that makes up the majority of the market. For this reason, the market is largely unaffected by currency fluctuations.

Despite the popularity of property on the island, the mayor of St. Barts, Bruno Magras, is vocal in his desire to keep its green zones and prevent over-development. St. Barts gained its independence from the French department of Guadeloupe in January this year, and Magras is tipped to become the president, in which case his opinion will be key to the island’s zoning laws.

As well as conserving the natural beauty of the island, developers also recognise that being sensitive to the nature and extent of development on such a small island as St. Barts is necessary. The infrastructure on the island simply cannot support many more people than its current high season population of 14,000. As a result, investment has taken a different form: property owners on the island are now marketing a time-share style arrangement, selling a set number of weeks a year in a certain property, all sold at a premium. Furthermore, as development is restricted, current owners of property are likely to see their investments increase in value.

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Obelisk International Notes Exciting Shift in Bansko Property Market

Extensive funding, luxurious retreats, booming tourism and five-star hotels aimed towards an exclusive new market of visitors are all signs that Bansko is leading the way for Bulgaria’s new type of superior resort.

In the light of recent developments to the area and further investment promised this year, Obelisk International notes that the resort of Bansko is rapidly becoming one of Europe’s most exclusive ski resorts, making this the optimum time for investment while the property market is still accessible to the ordinary investor. An early sign that Bansko is leading the way forward for Bulgarian tourism is its five-star Kempinski Hotel situated on the edge of the piste, where facilities include a vitamin bar, spa and cigar lounge. The fact that Bansko was chosen as the location for this prestigious hotel, which last month was selected as a member of the Leading Hotels of the World, both confirms the area’s exclusive status and contributes towards a secure and profitable future for all investments in the area.

Bansko was originally set apart from other comparable European ski resorts when a multi-million pound investment was put towards building a modern lift system with a “village” of holiday accommodation at the foot. In addition to its state-of-the-art facilities, the property professionals at Obelisk International note that the resort has the intrinsic and fundamental advantages that ensure its appeal goes beyond its exclusive facilities. Bansko has the longest ski season and best record of snow of any Bulgarian resort, ensuring demand from true winter sports enthusiasts as well as those who are attracted by its high-end facilities. That said, its reputation as an elite option for a European ski destination is set, and rumours reported in the press are that it will soon host a members-only resort, the like of which has taken off among the wealthy of the US.

Going forward, recent reports detail more developments in the pipeline for Bansko. Currently due to be built is a new 65km lift system, a motorway to the airport and a golf complex neighbouring the resort. This was supported by news in February that in the region of Blagoevgrad, the largest investment program will be in Bansko, for the second year running.

According to Obelisk International’s Market Analyst, Veronica Castro, the combination of these factors is an indication of the investment potential of the resort: “Experienced real estate investors will always endeavour to pinpoint the optimum time in an area’s development for investment. Bansko in Bulgaria is showing all the signs that its property market is at that crucial stage, with affordable properties available and a highly positive outlook for the future.”



For more information on global investment opportunities and to find out about Obelisk International's latest projects, contact Kevin Prior, Sales Director, Obelisk International. +34 952 820 319 or kprior@obeliskinternational.comAbout Obelisk International.
Obelisk International is a real estate investment company providing global investment opportunities that offer security, tangibility and impressive financial performance. Their service to investors is based upon three main principles: price, profit and performance.
CONTACTPress Contact: Santiago Sanchez-Lozano, Marketing Director, Obelisk International, +34 952 820 319 or santiago@obeliskinternational.com - http://www.obeliskinternational.com/

Oman Set to Rival Dubai for Real Estate and Tourism

Oman is looking to follow in Dubai’s footsteps by establishing itself as a centre for global tourism and real estate investment. Both sectors in the Sultanate of Oman are looking more attractive to investors as they are set to receive significant foreign capital over the next few years.

A high-profile business convention was held in Oman recently to discuss the expansion of the sectors. ‘Oman: Building a New Future’ was held in association with Sama Dubai, the international real estate investment and development arm of Dubai Holding, an organisation that has played a large part in Dubai’s recent success in attracting tourism and investment. Speakers at the forum included government ministers and respected executives from the banking and real estate investment world.

A representative from Oman’s Ministry of National Economy at the forum was quoted as saying, “The Sultanate of Oman is one of the fastest growing economies in the region, and tourism and real estate sectors should create a tremendous opportunity for the nation.”

Oman’s economy has seen a realistic, yet steady growth since the beginning of the 1970s, with corporate profits climbing dramatically. The economic and business environment is considered to be continuing to improve in part due to a government that is responding positively to globalisation. The leading bank in Oman, BankMuscat, has recently been listed on the London Stock Exchange.Foreigners are allowed to buy properties in selected areas of the Sultanate of Oman and leading local banks are now offering financing to Oman nationals and expatriates alike.

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Report Confirms “Record Returns” on European Real Estate Investments

A new report by Jones Lang LaSalle has found that the opportunities for high returns on investment in European real estate have driven investment levels to a record high in 2006.

The study revealed a 39% increase in the total transaction volumes in 2006 on the previous year, equating to a total volume of £163 billion last year.

Jones Lang LaSalle’s Chief Executive of European Capital Markets, Tony Horrell, confirmed that over recent years, real estate investors have seen “record returns” on their investments. He added: “Demand continues to be fuelled by investors up-weighting their allocation to real estate, which has outperformed equities and bonds over the last one, three, five and ten years.”

Horrell’s comments on the findings indicate that the current trend seems set to continue, as investors aim to make the most out of the dynamic European real estate market.

With the current interest in Europe’s emerging markets, particularly in the recent and upcoming EU entrants, it is unsurprising that the UK has not experienced the same increase in levels of real estate investment seen by other European countries. The UK levels remained stable, at a similar level to previous years, unlike several European countries that experienced a considerable rise.

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UK Lenders Extend Maximum Mortgage Terms

Mortgages with 57-year terms are now being offered by Abbey, the largest mortgage lender in Britain, as buyers of UK properties endeavour to keep their monthly repayments down.

The UK’s mortgage lenders are responding to a trend amongst homeowners to extend their mortgages over a longer period, and so make their monthly repayments more manageable. Abbey is not the first lender to move towards longer terms; according to financial analyst Moneyfacts, 80% of lenders now offer a maximum term of over 25 years.

These lower monthly repayments will appeal to many prospective buyers who may otherwise feel that they are priced out of today’s UK property market. However, the borrower is warned that, taking into consideration the higher interest rate of such a mortgage, the overall amount to be repaid will be significantly higher.

A mortgage to be repaid over a 25-year term has a 5.25% interest rate, with repayments of £599.25 per month, amounting to a total of £179,775 to be repaid. In comparison, a 57-year term mortgage would have lower repayments of £461 per month, amounting to £315,159 in total. The difference in interest to be paid adds up to £135,384.

Due to the increase in the total amount payable, together with the implications of being saddled with debt repayments over such a long period, such schemes are not generally recommended to buyers. However, with current property prices in the UK so high, extended repayment terms are being marketed towards first-time buyers as the key to getting onto the property ladder.

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