Albania’s Property Market Warming Up

The low cost of living, no capital gains, no VAT, no transfer tax, and prices that are the cheapest in Europe; Albania is the new place to go for the early-bird property investor says Obelisk.

Within the last few years Albania’s stability and growing tourism sector has opened up the country to property development, which is attracting early property investors.

After abandoning communism in 1992, Albania has made enormous strides for both democratic and monetary development, revealing itself as a country that is not only ripe for tourism growth, but that also offers very affordable entry-level property investment.

The country presents tremendous scope for development of the tourism industry as tourism growth is estimated at 5.6% per year. With Adriatic and Ionian coastlines, and only a few miles east of Italy, Albania enjoys a Mediterranean café culture feel, with unspoilt National parks, beaches, mountains and rivers.

Rental yields of at least 6% should be realised, and once Albania’s bid to join NATO in 2008 and the European Union in 2014 has been accepted, the potential for rental yields to increase is high.

The financial benefits of property investment in Albania is a large plus point for the country’s growth; there are currently no restrictions on foreigners to purchase residential property, no capital gains tax, as well as low buying, running and selling costs.

The currency and democratic government is stable and strong, and the country has an annual wage growth of around 10% per annum. Albania already has mortgage facilities in place for foreign property investors, which is unlike many other Eastern European countries who took some time in building a foreign investor product base.

Local agents are currently reporting prices of between €550 and €800 per square meter, and as such, overseas Albanians are sending funds home to snap up these bargains pre-construction, creating a valuable source of revenue for the country.

For more information on Overseas Property Investment opportunities and to find out about Obelisk’s latest projects, contact: Obelisk on 0808 1600670 or email info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com/

Western European Property Prices Stabilize

Experts have reported that Western European property prices have now stabilized, and now the boom is over some believe the prices are now due to fall.

House prices in Western Europe have risen at a rate of knots most notably over a five-year period, especially in Spain, UK, and Ireland. Property investors within these areas, who bought in 2001, have made a minimum European average of 40% return.

Property research compiled by The Halifax recently reported that house prices in Spain realised a huge 100% profit between 2001 and the end of 2006. However, property experts now predict that prices for older properties in particular, as opposed to off plan, are already seeing a price drop.

During this same period, residential properties in the UK went up by 90%, with an average house price of £187,100, and across Western Europe, house prices averaged a 40% growth, again within the same period.

Remarkably, the most expensive place to purchase property is in fact Ireland with the average price hitting £209,300 at the end of 2006 and the Netherlands came in close behind, at an average of £190,900.

Economist Tim Crawford of Halifax, reports that Ireland’s strong economy and immigration, and a favourable ratio between supply and demand, has aided the drive up of house prices in Ireland, although he did state that prices are still very high.

Mr Crawford comments ‘We are possibly starting to see prices settle in areas where they are higher.’

At the bottom of the scale, countries that have a very slow growth rate include Austria averaging 6% and Portugal at 7% with Germany edging into negative figures of -5%.

Tim van Dijk Project Manager at Obelisk comments ‘As Project Manager my main objective is to source highly competitive, profitable property investment for our client’s portfolios. In my opinion, Western Europe has had its day in terms of offering Obelisk clients ROI in real terms. Investment property within the emerging markets such as Brazil, Bulgaria, and EU member contenders, offer a more profitable return and are both highly sought after and appeal to our clients, due to the huge capital growth potential.’

For more information on overseas property investment, and to find out about Obelisk’s latest projects, please contact: Obelisk on 0808 1600670 or email info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com/

Obelisk® International Launches Latest Project, Kavarna Bay Resort in Bulgaria

Kavarna Bay Resort, located on Bulgaria’s Black Sea Coast, offers the property investor an amazing opportunity to own apartments within this exclusive resort, whilst providing major return on investment.

Award winning and internationally renowned architect, Atanas Panov has created a unique, innovative and exclusive design for Kavarna’s new state of the art development. This fully licensed project will provide the property investor with high rental yields and excellent resale potential, which comes exclusively to Obelisk clients. Obelisk has negotiated a favourable pricing structure for their clients, with the Kavarna Bay Resort offered at an outstanding 26% below market value giving the investor an immediate return on investment.

The strategic location of Kavarna Bay Resort is just one of the highly attractive features of this luxury seafront complex. Every unit has a sea view, presenting a very advantageous selling point to the holiday rental market. The development also has the huge additional benefit that this frontline property development will have no other buildings blocking the fantastic south facing, all-day-sun views of the bay.

Kavarna Bay Resort benefits greatly from the close proximity to Varna, home to Bulgaria’s second largest airport. Only 30 minutes from Kavarna Bay Resort, Varna International Airport boasts connections to over 101 destinations across 35 countries. A €250 million investment to expand the airports facilities in order to accommodate the increasing passenger numbers was recently secured. The huge investment potential of the region has been illustrated by the substantial influx of both municipal and private funds, and as such the areas overall infrastructure has been greatly improved.

Outstanding facilities are offered at the Kavarna Bay Resort including nine outdoor swimming pools with large sun decks and a heated indoor pool, overlooking the Bay of Kavarna. Every unit from studio to three-bedroom apartments will have its own designated parking space, and 2,800 square meters have been allocated to commercial buildings, which will include a property management service.

Other sporting facilities at the Kavarna Bay Resort will include a diving centre, fitness centre and health spa, and games room. The resort will neighbour a modern marina with yacht club, approved for construction, and will also have direct access to the pay per play, Gary Player designed PGA golf course, due to complete in mid 2008. Two other PGA golf courses are currently under construction, both within 10 minutes to the Kavarna Bay Resort, along with a UEFA mini football ground and a €15 million FIA approved Formula 1 racetrack. The Kavarna Bay Resort is also only 12 kilometres from the picturesque Kaliakra cape, a beautifully preserved National Park.

For more information on the Kavarna Bay Resort and other global investment opportunities, and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com
Or visit our website: http://www.obeliskinternational.com/

Obelisk® International reports on UK Buy-to-Let Market

UK buy-to-let property investors face worrying times after property reports reveal that private investors may not be profiting from tenants rental payments.

Within recent years, the buy-to-let market has given UK property investors consistently high value incomes. However, recent reports show that rental returns have fallen sharply in relation to the cost of an average buy-to-let mortgage affecting an estimated 400,000 UK property investors.

The figures show that rental returns from most properties have fallen below the cost of the average buy-to-let loan. This is now causing major issues within a sector that has previously surged ahead, providing an invaluable income for the buy-to-let private investor.

The research carried out by the Association of Residential Letting Agents, who represent buy-to-let mortgage lenders, state that 67% of all UK landlords were only making rental returns of 5% or below in the month of August. Many buy-to-let mortgage products also charge high arrangement fees, which also impact the potential returns.

The current Top 10 buy-to-let mortgages listed on MoneyFacts, a financial research website, show that at present the interest percentages range from 5.09% - 5.84%, thus if a return of only 5% is realised the whole concept of property investment in the UK is deemed very unprofitable.

Kevin Prior, Investment Director at Obelisk comments, ‘If an investor took out an 85% mortgage on a three-bed house, valued at £125,000, and attracting a rental income of £500 a month, the mortgage payments would add up to around £486 making the property investor a total profit of £14.’

‘After management costs such as fees, VAT, insurance, property maintenance etc. are taken into account the landlord would without a doubt lose money. However, this may not affect the investor who has held a property on a long-term basis as they have built equity and therefore profit from the boom years’

This property news will not be comforting to the 171,000 residential property investors who took out loans within the first half of this year. The drop in yield has prompted many landlords to sell up in a bid to ease exposure to losses.

Tim Warrington, of Landlord.co.uk, comments: ‘Too many landlords selling in the UK could send the property market into freefall.’ Ed Stansfield, of Capital Economics, is predicting house prices in 2008 will show, in real terms no level of growth at all with a fall in prices.

Kevin Prior concludes: ‘The key to any successful investment is diversification and putting the proverbial eggs in one basket, does not allow for any leverage. The overseas property market without a doubt offers highly competitive prices, excellent value mortgage products and most importantly an outstanding profit potential.’

For more information on Overseas Property Investment opportunities and to find out about Obelisk’s latest projects, contact: Obelisk on 0808 1600670 or email info@obeliskinternational.com
Or visit our website: http://www.obeliskinternational.com/

Obelisk® International’s Property Investment Process Receives Financial Times Coverage

Esteemed finance writer Sharon Flaherty from FT Adviser, reports on Obelisk’s Due Diligence process for the company’s overseas property investor clients.

A recent Due Diligence report by Obelisk has received major interest from financial institutions and publications who have commented on the company’s compulsory act of Due Diligence on all property investment projects offered to Obelisk clients.

Sharon Flaherty comments ‘For all of the investment projects it handles, Obelisk said it will undertake a rigorous process of investigation leading to a due diligence report, which should help with the buying process.’

Kevin Prior, Investment Director at Obelisk comments ‘The company is pleased that the subject of Due Diligence has been brought to the attention of the property investment market, especially by such an integral media as the Financial Times.’

The Obelisk report highlights the potential mine field buyers can face when entering into the foreign property investment markets, and how the compulsory act of Due Diligence for the overseas property will provide security and integrity of the projects.

Mr Prior continues ‘Investor clients require clear, transparent and legally sound property reports which provides them with a full audit of the market, developer and the development.’

To see the original FT Advisor article please click on the following link: http://www.ftadviser.com/default.aspx?m=11173&amid=119197

For Obelisk in the Press please click on the following link:
http://www.obeliskinternational.com/obelisk_in_the_media.html

About Obelisk: Obelisk 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. For more information, please contact Obelisk: Tel: 0808 1600670 Email info@obeliskinternational.com http://www.obeliskinternational.com/

Obelisk International says Kavarna is The New Property Investment Area in Bulgaria

Kavarna is creating a new wave of interest for Property in Bulgaria state Obelisk, with Kavarna Bay in particular being developed with exclusivity and high quality in mind.

The region of Kavarna will not only cater for the sun-sea-sand traveller but also the yachtsman, the golfer and the fishing enthusiast. Over the last few months Kavarna, as a resort, is turning into one of the most attractive destinations for property investment and development. With only a 30 minute transfer time from Varna airport and 38km from Romania, the Black Sea town of Kavarna is sure to become a popular playground for the tourist market.

The area will benefit from a proposed €15 million development of Bulgaria’s FIA approved Formula 1 racing complex, project managed by British company Berkeley Square Trading Limited. The significant level of inward investment is apparent, with the approval of plans to enhance Kavarna’s port into a new modern marina and yacht club specifically targeted to the luxury clientele.

Two golf courses which have been designed by the world famous Gary Player are currently under construction, one of which will be in the top five largest in the world. The mild climate in Kavarna is conducive to the construction of the golf courses and once the golf courses are complete the rental potential of the region will be phenomenal and yields are set to fly.

Andrea Elliott, Business Analyst at Obelisk comments ‘The economic success and the future vision for Kavarna is not speculative; €700 million has been invested in Kavarna within the last four years from internal and external investors. Many positive influences include mild weather conditions, excellent sporting facilities, quality developments and the close proximity to Varna airport, all of which enhance the areas investment potential dramatically. To the property investor this will mean the luxury of year round rental income and access to a very dynamic resale market.’

This modern and contemporary town stands on an ancient site dating back to the second millennium BC, providing the tourist with an eclectic mix of history, art and culture. Reconstructed roads and infrastructure, well developed services and a fast growing economic and cultural mix is catching the attention of both the Bulgarian and foreign investors.

Kavarna is also one of the biggest agriculture producers in Bulgaria and lends itself to the possibilities of competitive production and attracting new employment, partners, creditors, and investors. A lot of Bulgarian, international and foreign partnership companies, with many branches already in operation, have invested heavily in Kavarna all boosting the areas economic conditions and consumer spending.

For more information on property in Bulgaria and to find out about Obelisk’s latest projects, contact: Obelisk on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/

Obelisk® International Researches the Viability of Property Investment in Macedonia

Renewed tourism in Macedonia is boosting awareness to the country’s potential as a buy-to-let property investment market.

Bordering Serbia & Montenegro, Bulgaria, Albania and Greece, the land locked country of Macedonia saw 1.2 million tourists and €65 million of tourist related income last year. The latest reports by the State Statistical Office indicate that there were over 11% more registered tourists in July 2007 than in July 2006 and according to the report, the numbers visiting Macedonia’s resorts between January and July 2007 increased by nearly 6% compared to the same period last year.

Nikola Panov, a Professor of tourism at the Skopje University told Balkan Insight the positive figures are mainly due to the revival of one of Macedonia’s biggest tourist regions located around Dojran lake in the country’s south-east. Mr Panov noted that Macedonia’s leading tourist region around Lake Ohrid has also been more attractive this year with high-profile cultural and sporting events.

‘The statistical analysis does not include a significant number of tourists who stayed in private accommodation and were not registered.’ Mr Panov said that many owners of private accommodation failed to report the exact numbers to avoid paying tourist and income taxes ultimately making the overall tourist figures very conservative.

The Macedonian government have made a huge spend on advertising in financial publications entitled ‘Invest in Macedonia’ promoting the country’s low taxation and zero tax on re-invested income which makes Macedonia a very appealing country to purchase overseas property.

For more information on property investment and to find out about Obelisk’s latest projects, contact: Obelisk on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/

Opportunities are Abound for the Ukraine Buy-to-Let Market

Property values in the capital of Kiev are soaring and as such many Ukrainians are being priced out of the market making profitable news for overseas property investors.

Not unlike the property market in the UK, where a growing number of first time buyers are forced to rent, house prices in the Ukraine have increased to such an extent that many locals rent as opposed to own property. Another issue hampering local buyers is the high interest rates on the county’s mortgages but with renewed economical interest these rates are sure to fall.

The growth does not only provide a good opportunity for overseas property investment, it has also aided in the development and infrastructure improvements in the Kiev market. Many towns and villages around Kiev and the mountain regions are experiencing their own building boom, with a fair amount of off-plan development under way. The Ukraine Carpathian Mountains now has its first off plan Ski resort, all signs of a booming Ukraine real estate market, and over the last few months alone reports have shown growth rates of between 12-15%, more than many other cities within Europe.

The UK publication, The Business has highlighted the fast-growing real estate market in Ukraine. The country’s economy is on the rise and prices for property in Kiev are still rising at about 2% per month, according to property reports.

Mykhailo Zhogolev, Director of Real Estate Experts Association, believes that renting is a cheaper option for the average citizen given the high prices and interest rates, as reported in the Kiev Weekly. International property investors, seeing the increasing value as well as the need for rental properties, have dominated the property market and in turn are making a good ROI.

For more information on overseas property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com

Obelisk® says Countries Pegged to the Dollar Provides a Sharp Opening for Property Investment

Both the euro and the pound are trading exceptionally high against the dollar boosting tourism and real estate in the currency pegged countries.

‘Over the last three years the dollar has seen a major downward turn against some of the world’s major currency markets, but this has also had a positive effect on pegged currency countries that have seen renewed tourism and bullish property investment’ says Tim vanDijk Project Manager for Obelisk.

‘Currently trading at over US$2 to the British pound and US$1.38 against the euro, the situation creates a window of opportunity for many Arab states including Dubai, Caribbean Islands and various Latin American countries, to capitalise on the European tourist and property investment market.’

The pound and the euro can stretch much further than they did before and at the same time, the fixed rate of exchange neutralises the effect on tourism to the Caribbean from the US. This therefore means that you get more property for your money.

'When a country's economy is pegged to the dollar, which is weak now, its currency will also be weak, making property there cheaper and more attractive to buy for Brits,' comments foreign currency expert James Hickman from Caxton FX. 'Dubai benefits from booming infrastructure spending and tax incentives to lure businesses, so more and more people are working here and they all need somewhere to live,' he says. 'That's good news for investors.’

The Caribbean, where many islands are pegged to the dollar, could be another good place to invest your robust pound as some areas are still emerging. Local property agent Richard Eames comments 'Obviously, you get more for your money, but the good exchange rate also attracts overseas developers keen to build hotels, infrastructure and other amenities on the Caribbean islands,' all of which will aid tourism and the local economy.

Exchange rates play a major role in buying overseas property as an investment when converting from GBP or Euro to US$. Currency fluctuations can differ by up to 10%, which ultimately leads to either financial loss or gain depending on the timing of the entry into the market.

Mr vanDijk concludes ‘Highlighting the weakened dollar presents an advantage in the market, and the strong exchange rates generate the opportunity to secure property at very attractive prices. Looking for areas that have strong tourism and rental markets provides further value for money. However, the dollar will not remain weak forever and as such astute property investors making an early entry to these markets will be rewarded with a very viable and tangible asset to an overseas property portfolio.’

For more information on overseas property investment and to find out about Obelisk® latest projects, contact: Obelisk® on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/

Turkey Property Investment

With the country’s low cost of living Turkey property investment provides an inexpensive and economically sound real estate investment.

Since the market opened up to foreign property investors, prices in several parts of Turkey have been heading consistently upwards, and with the new resorts, facilities, and infrastructure all re-shaping the Turkish landscape, this growth should be apparent for many years to come.

Turkey is a popular holiday destination for the British tourist, with a great deal to offer in terms of the traditional coastal holiday and for the cultural traveller, yet without the cost of many other destinations within the Mediterranean area.

Although Turkey property investment has been better known for entry level, with some property prices ranging from £30,000-£50,000, the price bracket does not reflect on the standards and quality of the Turkish workmanship. Facilities and services have improved greatly and the cost of property is relative to the low cost standard of living.

Property pages within the broad sheets such as The Telegraph, The Times, and The Independent are all reporting on the growth potential of Turkey property investment. Areas currently under the spotlight include the ancient port of Kas, which has seen property prices hitting huge growth levels with local agents reporting growth of 25-30% between 2000 and 2005, and Kalkan which is one of the more expensive areas, and as there are so many British property investors there is a great market for resale. Further north lies the town of Altinkum, which is expected to be the next property boom area where a detached villa with pool is still negotiated for an outstanding £80,000.

The Prime Minister of Turkey, Recep Tayyip Erdogan, is very committed to the growth of the country and since the party came to power in 2002 economic growth has been strong and inflation has fallen. The Prime Minister is very keen to push through much needed reforms required for the EU to accept Turkey as a member state. Historically entry to the EU has heightened a countries stability, economy, and property values.

Turkey property investment also boasts exemption from capital gains tax after a holding period of four years but with the escalation in property prices the investor can select any exit strategy, even short term and still reap excellent gains. All in all Turkey property investment provides a confident and productive investment opportunity.

For more information on Turkey property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/

European Buyers are Pushing Prices up in Slovenia

Slovenia’s real estate market has opened up to EU nationals and in joining the EU in 2004, Obelisk® International shows that keen buyers are warming up to Slovenia’s property investment market.

The former communist bloc country was one of the first to adopt the use of the Euro at the beginning of 2007, and ever since property investments have been increasing with the British leading the way.

With a population of only two million Slovenia is a relatively small country within the Balkan Peninsula of Europe. The ex-Yugoslavian country was in fact one of the most advanced countries to gain succession to the EU and boasts a per capita GDP of US$17,535, around 75% of the EU average.

Property research provided by the Tax Administration shows that during the first year of liberalization, about 500 properties were sold to EU citizens. The report continued to say that most of the properties sold were either seaside or in the northeastern region of Prekmurje.

In 2006 this figure rose to 740 properties purchased by Britons, Italians, Austrians, Germans, Irish, and Spaniards. Property prices have been rising fast by an unconfirmed 10% to 30% annually. In Ljubljana the price per square meter now stands at €3000 but within the country’s rural areas bargains can still be had.

As an economically dynamic, democratic, and progressive country Slovenia is a safe and secure overseas property investment opportunity with very favourable interest rates that have remained low since 2005.

For more information on property investment news and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com
Or visit our website: http://www.obeliskinternational.com/

Obelisk® International Shows that Budget Airlines Affect Overseas Property Markets

Obelisk International research reveals new budget airline routes can have a profound effect on overseas property investment and may indicate the next investment hotspots.

A prime example of the budget airline effect has been Bulgaria where a major increase in flights has hiked both property and rental prices. Property reports show an estimated €310 million worth of property was purchased by overseas buyers in Bulgaria within the first three months of 2007. This news was in fact three months after Ryanair and easyJet announced flights schedules to both the countries ski and coastal resorts.

Obelisk International’s Investment Director, Kevin Prior comments ‘The budget airline industry is booming, indicated by easyJet’s 50 new routes announcement, and projections that the growth is set to continue across the world ensures the viability of the fly-to-let industry. Knowing exactly where the cheap flights are travelling to is certainly a key element to investment success.’

‘Airline routes are a very important factor when dealing with emerging overseas property markets. On that basis all of Obelisk International’s projects undergo a huge selection and research process, including the assessment of frequent or planned frequency of flights available to service the rental market.’

New budget flights by Monarch and Ryanair has prompted huge expansion to Paphos and Larnaca airports in Cyprus and has heightened property investment interest in the country. Morocco, which has seen massive funds for the country’s infrastructure, is due to see 20 new routes on offer within the next 5 years, along with other areas such as Latin America, which are also enticing overseas property investors with flights being offered by Thomson fly.

Mr Prior says: ‘Obelisk keeps a close eye on the airline operators and the new routes on offer as it can indicate where the new property hotspots are going to emerge, and in general these markets are up and coming and provide a strong ROI. The fierce competition and price wars between the airlines can ultimately equate to higher rental prices as the consumer saves on travel costs.’

Three main factors Obelisk research team state need to be addressed, when looking at the prospective destinations in terms of transport; frequency, cost, and ease of travel to and from the property. Travellers want to be able to select specific dates, pay as little as possible on flights, and of course, ensure transfer times are kept to a minimum.

This further confirms that property investors looking to enter the overseas real estate market should be looking carefully at the budget airline press pages for strategic property investment planning.

For more information on overseas property investment news and to findout about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com
Or visit our website: http://www.obeliskinternational.com/

Several Towns and Cities in Romania Emerging as Key Players for Property Investment

Bucharest is big business in Romania, but now other cities and towns are gradually emerging, demonstrating that there are more investment opportunities beyond the capital.

Following on from the increasing growth of Bucharest, new areas are now attracting more and more foreign real estate investment away from the Romanian capital. Obelisk International says that other regions including Transylvania, Romania’s biggest tourist asset, is enticing overseas property investors to what is tipped to be the new Bulgaria in terms of growth.

Tourist areas, outside the capital and the coastal resorts, are springing up in the interior of the country due to increasingly popular activities such as skiing, various outdoor pursuits, and the multitude of medieval towns including Brasov and Sighisoara, the main towns for the Carpathian Mountains and Romania’s largest ski resort. New infrastructure to the area will also help stimulate growth and includes a new international airport in Brasov, which is due to complete in 2008, and a motorway connecting the airport with the city of Bucharest.

The Brasov airport will boast a capacity of one million passengers a year with carriers such as easyJet and Ryanair planning to run flights from the UK. easyJet has also announced that from 29th October they will be flying direct to Bucharest for only £29.99 each way, cutting the cost of flights by £120 and further boosting property investment exposure for the country.

Romania investment opportunities do not stop at the tourist destinations, the university city of Cluj-Napoca with the largest population in Romania is situated 200 miles north west of Bucharest and is a huge rental market opportunity with over 54,000 students and attracting many buy-to-let investors.

Romania has a double taxation treaty with mortgages open to both locals and foreigners, but despite its Black Sea coast, booming capital city and emerging ski resorts, Romania has yet to see the same development boom as its neighbour Bulgaria, which all points to an early profitable market for the prudent property investor.

For more information on property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com

Brazilian Tycoon Impressed by Dubai's Unprecedented Growth

From 'Paradise of the Rainforest' to 'Paradise of the Desert'; Business man Francisco Ritta Bernardino, one of the biggest land owners in Brazil is now looking to invest in Dubai.

During his first-ever visit to Dubai, Mr Bernardino, who is also the President of the Ariau Group of Hotels, expressed his admiration and satisfaction of the state-of-the-art facilities and services Dubai offers to the global investor and businessmen which he said is not found anywhere else in the world.

The business tycoon showed his keen interest in investing in Dubai's expanding hotel industry and the planned high-end property projects. The Vice President of the Federation of Industries in Amazon, and President of the Amazon Convention and Visitors Bureau, said that he is highly impressed with the facilities and excellent services that Dubai had to offer. Mr Bernardino is the second largest land owner in Brazil, and is looking for lucrative opportunities in Dubai whilst promoting the sale of land and resorts to possible investors from the UAE to Brazil.

With the dirham pegged to the dollar, Obelisk International believes that the strong pound which is currently hovering around $2 to £1 has triggered a huge increase in investor money to the country. For the investor, this equates to property prices at 15% lower than in April earlier this year, which is a huge incentive for overseas property in Dubai.

Meeting with the Marketing Director General of Dubai Department of Tourism, Khalid A bin Sulayem, the high-profile businessmen and investor was joined by other delegates from Brazil and UAE, talks were based on building relations further between the two countries. The delegation formed part of the DTCM's marketing strategy and continuous efforts to promoting Dubai as an international trade and tourism destination. Mr Bernardino also announced the launch of the new Emirates airline flight from Dubai to Sao Paulo, to begin next month, which will further boost trade and investment opportunities between Brazil and the UAE.

The delegates also included high profile business and government officials from both countries Vision and Mission - To position Dubai as the leading tourism destination and commercial hub in the world, and to strengthen the Dubai economy. Mr bin Sulayem briefed the delegation about the benefits and facilities Dubai has to offer to investors and businessmen, highlighting the global efforts of DTCM in promoting the trade and tourism attractions of Dubai.

For more information on property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/

Obelisk International Recognised as Key Partner in Brazil Property Investment

Luiz Felipe Cavalcante from the Association for the Real and Tourism Development (ADIT Nordeste) has commended Obelisk International as a strong partner in Brazil property investment, for the growth and awareness of the northeast region of Brazil.

ADIT’s major role as a non-profitable organization is to verify credibility and security for international investors. Members of which include renowned national and international companies working in conjunction with influential government officials to attract foreign capital for the development of the area. According to a recent study of Brazil property investment by ADIT, US$8 billion will be invested in 80,000 properties in northeast Brazil over the next 8 years.

Luiz Felipe Cavalcante comments ‘We are pleased with Obelisk International’s interest in the Brazilian market and its vast potential. We have witnessed that Obelisk International not only searches for the best partners and projects, but also for optimizing clients’ investment returns. We believe that these are the main factors necessary for offering excellent investment opportunities in Brazil to investors. We consider them a key factor in the further growth of the real estate market in North Eastern Brazil.’

‘Brazil offers excellent opportunities for growth in tourism-related real estate development. The professionalism of domestic players in the sector, a strong and transparent regulatory framework and a robust macroeconomic environment offer unparalleled opportunities for foreign investors. Because of this, we believe that Europeans will soon begin to capitalize on the great potential of Brazil’s tourism and real estate markets’.

In a recent statement Mr Rodrigo de Rato, Managing Director of the International Monetary Fund, said ‘I am impressed by the performance of the Brazilian economy whose growth rate has been increasing strongly. Brazil's economic outlook is also favourable. Continued sound macroeconomic policies, backed by the government's Growth Acceleration Program and other ongoing structural reforms, should entrench a virtuous circle of rising investment and growth.’

The expansion of tourism-related real estate investment in northeast Brazil is not merely the result of its stunning beaches and tropical climate; the country is now the largest economy in Latin America and coupled with a stable democracy and much improved infrastructure, is very foreign investor friendly. The falling interest rates and simplified policies on both profit and overseas capital have made Brazil property investment even easier and as such Brazil has seen a marked increase in foreign direct investment.

Obelisk International believes Brazil property investment, in particular the north eastern regions, to be a shrewd investment area with a bullish ROI achievable.
Kevin Prior, Investment Director at Obelisk International comments ‘Obelisk identifies only the best, strategic emerging areas and countries, Brazil for one is certainly no exception to our rule of a successful strategic investment market with our investors buying in multiples. The early, astute investor can benefit greatly from property investment in cities such as Maceio for example. Currently an internal tourism playground and a firm favourite for Brazil’s second home buyers Maceio is certainly opening its doors to the international community and tourists can now fly direct from northern Europe into Maceio’s expanding international airport - all of which makes for a great opportunity to add Brazil property investment to an investment portfolio.’

For more information on Brazil property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/

Cambodia Urged to Change Laws on Foreign Property Ownership

Cambodia's private sector has urged the government to allow foreign ownership this week saying an open-minded real estate market would promote economic growth.

The Cambodian investment law was amended back in 2005 to allow foreign ownership of permanent fixtures, but as yet has not been enforced. The non-implementation of the act has in fact rendered the amendments as a forgotten law, and as such has now become out dated. In the current legal understanding, the old law will only allow a property investment in the name of a Cambodian national but with the pressure from the private sector to increase wealth, urgent action will be required.

Chris Green, Head of Research at Obelisk International says ‘The key improvements to the property investment law would open up a whole new economic world to the country of Cambodia. These measures would not only further develop Cambodia's property investment market, but the new interest from those investors who want to take advantage early, will not only create a boom putting Cambodia on the map, but will also make the country more competitive with its neighbours.’

American lawyer and chairman of the International Business Club, Bretton Sciaron comments on the property investment news ‘There are several reasons for urgent action, this is already a sector of the economy that is dynamic, but foreign ownership of apartments, condominiums and other such structures on the land will help spur further economic growth. Such a regulatory development will provide a dramatic indication that Cambodia has an investor-friendly environment.’

Vast new building projects have increased over the past few years, including a great number of satellite cities worth billions of dollars that when completed will fundamentally alter the appearance of the capital. After years of disorder within Cambodia, the country is now turning things around as a growing economy posting a steady 11% growth over the last three years, fuelled by a strong tourism industry and clothing manufactures.

Cambodian Commerce Minister, Cham Prasidh said that Cambodia still relies on international aid for half of its annual budget, but must now diversify by seeking more varied foreign investments. ‘There are other sectors we are trying to encourage, but we have to find out what are the sectors where we can be competitive. If we try to produce the same thing as Thailand or Malaysia, it will be very difficult’.

For more information on overseas property investments and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com

Singapore Property Developers Bullish Despite International Subprime

Singapore property developers are playing down the impacts of the US subprime crisis, as the continuing property boom surges large developments for the residential property market.

Obelisk International believes that unlike some credit markets, which have been affected by the US sub prime mortgage instability, Singapore will continue to see hardly any impact. Government data backed up the investment news by publishing figures showing that residential property prices have risen by around 21% since mid-2006. The volume in demand has also picked up, with developers reporting over 9,000 units under construction compared to only 4,000 last year.

City Developments general manager Chia Ngiang Hong commented ‘We do not expect any significant adverse impact on the property market here in view of the strong economic fundamentals,' Chia said. Chia said demand in the low-to-mid tier residential market is still improving, with City Developments' projects in this area continues to sell well. Demand for high-end residential properties is also continuing to improve but the price appreciation in this segment may slow after rising rapidly in the last 12 months, he said.

However, analysts believe that the shortage of housing in Singapore will continue despite the new projects being launched by developers given the government's population target. Citigroup’s Wendy Koh says 'The supply shortage situation is unlikely to change. Unless we see significant exodus of expatriates, short-term demand supply equilibrium will not change. The supply shortage is being aggravated by the demolition of older condominiums that are earmarked for redevelopment and with developers focusing on niche high-end residential projects that provide better profit margins. We expect rental rates to continue to rise, thereby supporting higher (housing) prices,' Koh said.

For more information on property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/

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Investments Soar in the Philippine Island of Mindanao

The National Economic and Development Authority has released investment news showing the Philippines are receiving fresh interest from foreign investors, most remarkably within the last year.

Investments have jumped by 152% alone in the provinces of Northern Mindanao in the southern Philippines. Data compiled from the Northern Mindanao Regional Economic Situationer showed that the five provinces within Mindanao drew in P4.4 billion in January to March 2007, up on the P1.7 billion received between January and March 2006.

A large majority of the investment has been ploughed into resort facilities, real estate, and infrastructure. The province of Bukidnon contributed the largest share of P2.7 billion or 62% of the region’s total investments during the period, most of them in the areas of infrastructure and services, which also included developments.

Misamis Oriental province accounted for P858 million or 20% of total investments. Investments in the economic zones in Misamis Oriental comprised 27% of the total provincial investments that included an expansion project for the company of Pilipinas Kao and more construction at the Phividec Industrial Estate.
Investments in Lanao del Norte includes renovation of existing buildings, construction and expansion of commercial enterprises, resort facilities, construction and supply distribution centres.

Many companies are relocating to the Philippines by increasing business process outsourcing, which is creating a demand in local property, rental prices, increased wages, and in turn public spending. The Filipino political stability is also having a marked effect on the economy, which in turn is further encouraging foreign direct investment in off plan city complex and island resorts development.

For more information on overseas property investment and to find out about
Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/

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Naeem to Launch Mortgage Company Spurred on by Increasing Egypt Property Investment

Egyptian investment bank Naeem Holding has released investment news today that they are setting up a $200 million mortgage finance company to fund the growing demand for Egypt property investment.

Egyptian law has now been changed to accommodate financing and the demand for mortgages has been driven further by the countries economic growth and rising property prices according to investment news. Amlak Finance, one of the first companies to offer mortgage services, has already started to see profits moving in the right direction, and early predictions show that the company will see good profits next year. The legal changes will include reduced fees for registered properties and clarity to the foreclosure laws all of which are increasing the competition within the mortgage industry in the Arab country.

Ahmed Naim Badr from Naeem commented that the investment bank plans to invest a further $300 million into property in and around Egypt over the coming year. ‘In three to four months we will apply for a licence and begin operations. There is a big rally in the real estate market and this can't be managed without mortgage companies.’

‘By the end of this year the mortgage law should be fully in place. I see the amount increasing again but it is subject to getting the mortgage law properly implemented. Most of the new real estate developments in Cairo, such as the residential compounds built by many UAE firms, cater only to Egypt's wealthy. Once the law is passed developments will be able to serve more people, which will help to develop the middle class. Changes to Egyptian law allowing funds to buy property, in addition to listed companies, would also boost investment in the sector. There is a lot of liquidity among small investors who are currently seeking real estate investment opportunities.’ Badr said.

The introduction of the mortgage law is set to double the Egypt property investment market and a surge in liquidity in the region, economic growth, and high inflation are all encouraging people to invest in real estate. Land prices around the capital of Cairo have already doubled over the past year.

For more information on Egypt property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/