THIS IS THE OFFICIAL OBELISK INTERNATIONAL BLOG: A COLLECTION OF PRESS RELEASES, ARTICLES AND OTHER USEFUL CONTENT PROVIDED BY OBELISK INTERNATIONAL. OBELISK INTERNATIONAL PROVIDES INVESTORS WITH OPPORTUNITIES TO INVEST IN CAREFULLY SELECTED REAL ESTATE PROJECTS FROM AROUND THE WORLD.

Wednesday, November 28, 2007

Economic Turn Around for African Countries

According to 2007 statistics released by the World Bank, many parts of Africa are now seeing booming economies.

The World Bank commissioned report, Africa’s Development Indicators 2007, has shown a marked increase in the microeconomic stability of 27 of the 36 African countries studied.

The World Bank highlighted this huge turnaround of fortunes stating that many of the continent's economies are now seeing growth rates of 5.4%, comparable to many countries within the rest of the world. The report confirmed that as a result of macroeconomic, trade, and governmental reforms, the continent’s future prospects all show good economic growth and indicate a continuation of this trend.

Much of the growth is driven by highly priced oil and mineral exports. Although the report also confirmed that, "18 non mineral economies, with more than a third of the sub-Saharan African people, have also been doing well."

Common issues relating to emerging markets such as inflation, budget deficits and foreign debt is now more manageable. Other factors include an increase in open trading and private enterprise, spurred on by improved governance and the introduction of democracy.

The ‘good performance’ rating for the macro economy has risen from 5 to 15 between 1999 and 2006, with 27 out of the 36 countries assessed showing a marked improvement. Among the strongest performers are the Gambia, Ghana, Kenya, Madagascar, Senegal, and Tanzania.

Local property buyer and businessman Mr Adebayo from Nigeria comments, "There is a lot of negative things said about Africa but so long as you do proper research, it can be as good as investing in property anywhere else in the world."

Tuesday, November 27, 2007

South Korea’s First Budget Airline to Take Off in 2008

South Korea’s largest airline, Korean Air Co. announced the launch of their new low cost airline to be in May 2008.

Following the recent news of Asia Air’s low cost airline expansion in partnership with Sir Richard Branson, Korean Air Co. will now join the growing competition for budget fares within Asia.

The predominant focus for the South Korean carrier is to entice more tourists to the country by offering short haul flights to the Shandong and Hanna provinces in China, Japan, Malaysia, and Thailand. Provisionally named ‘Air Korea’, the airline will have an initial cash capital of $21.5 million from its parent company, for the funding of three Airbus 300’s and two Boeing 737’s.

In taking advantage of the open skies agreement, Korean Air’s official commented, "Gradually plans are to add other short or mid distance destinations,” adding, “We expect the government to grant a license for the budget airline unit." The Ministry of Construction and Transportation have stipulated that the international route licence will be awarded to the airline, on the proviso that the carrier will firstly operate internal domestic flights. Ministry officials released a statement saying, "The government's basic stance is that an airline should first operate domestic routes and then be allowed to operate international routes."

The maintenance and operational training is suggested to be handled by Korean Air, who commented, "This outsourcing will ensure the operational safety of Air Korea, which has been indicated as a problem in some other low cost airlines."

Obelisk’s recent report regarding the positive effect of budget airlines in emerging property markets, clearly shows that property prices increase after the introduction of low cost travel.

Kevin Prior, Investment Director at Obelisk comments, ‘We keep a close eye on the airline operators and the new routes on offer as it can indicate where the new property hot spots 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.’

For more information on property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel. 0808 160 1005 or email press@obeliskinternational.com

To see the original article, please click here.
http://www.koreatimes.co.kr/www/news/nation/2007/11/123_14375.html

Monday, November 26, 2007

Strategic Planning Key to Overseas Property Investment Wealth, Report Obelisk

Obelisk research reports that strategic planning creates a win, win situation when it comes to property investment.

Obelisk research has shown that only 3% of investors strategically plan their investments, but those who do achieve significantly better results. Strategic planning is particularly important when making choices about property investment and is a great motivational tool. To be successful you have to declare what you want and set your targets.

Andrea Elliott, Researcher at Obelisk comments, “Once you have identified your property investment plan, the next step is to set specific targets and timelines. In order to do this you must break down your plan into bite-size chunks and define what needs to be done and by when.”

“Using this process will not only show you exactly what you want, but also how you want it, when you need to complete, and most importantly, provides a motivational record of your achievements.”

Two of the most important considerations for property investment are yield and term. In the emerging property markets, yields are generally faster to achieve for both rental and resale. The term will identify how long you are prepared to hold on to the property investment.

Deciding to hold property in emerging markets over the short-term can offer opportunities that make a fast return, whereas a longer-term approach with a view to sell offers good growing rental yields coupled with a vastly different and generally more bullish resale market.

Kevin Prior, Investment Director at Obelisk comments “In property investment, the ultimate statement is ‘I want to create wealth through property investment’ which should create the question ‘How can I create wealth through property investment’.”

“At Obelisk, our clients are assured that we fully research every potential project, and analyse international property markets, to assess their viability and potential growth. We assist our clients by tailoring services specifically to their needs, creating exit strategies for both our short-term and long-term hold investors.”

Sir Alan Sugar, one of the UK’s most successful entrepreneurs once said, “Margin is King as far as I am concerned. I invest profits wisely and I safeguard the future wealth of my family by keeping the speculative side of my business separate from a safe and secure property portfolio.”

This demonstrates the value of strategic planning. By keeping his property portfolio completely separate from his riskier business, Sir Alan recognises the stability and security that can be enjoyed by investing in property, whilst ensuring his family are provided for in the future.

For more information on property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on: 0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com

Kenyan Investment Groups Pooling Funds to Increase Property Development

Kenyans are pooling investment funds to increase property development and keep up with a growing housing demand.

Project managers are bringing investors together within the construction industry to fund projects that are reportedly running into the millions. In a unique move, the group’s holistic approach will mean investors, project managers, and construction companies will all be working together.

Kenya’s housing deficit currently stands at 150,000 units, with an actual construction figure of 35,000 units per year, leaving a huge demand for houses, especially in the low to mid end market. However, some experts in the country believe that this type of group funding will indeed spur the generation of large-scale property development for the low to middle-income families.

Current statistics from the Ministry of Housing show that nine out of ten projects are developed for the high-end market, leaving the middle and low income sectors virtually discounted.

Joe Macharia, Managing Director of Bora Capital commented, "Half of our investment shall be in multi-family housing targeting middle income earners." The lobby Chairperson, Patrick Kariuki, has indicated that the satellite towns such as Athi River, Thika, Ongata Rongai and Kikuyu would be the ideal sites for this particular type of housing.

Kenyan fund managers, Genesis Kenya, have stated that property developments in Kenya can offer higher returns compared to shares and equities. Bora Capital stated, although a new concept with no comparable, the project should spark a much needed increase in property development in Kenya.

For more information on property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on:
0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com

Wednesday, November 21, 2007

Property Professionals Report on Thailand Property Investment

With a reported 13.4 million tourist arrivals from all over the world, property professionals state that Thailand property investment will be entering a demanding market.

The Bank of Thailand has shown that that the tourism sector accounted for 9% of Thailand's gross domestic product (GDP) in 2005, while the number of international tourist arrivals reached 13.4 million in 2006.

Paul Collins, Overseas Property Editor for Buy Association said that Thailand is a country with a great deal of interest for investors, adding that due to the country’s global popularity as a holiday destination, the high demand for rental accommodation makes Thailand property investment a wise choice. The buy-to-let market is especially pro-landlord.

Mr Collins from Buy Association comments, "Thailand's very popular - not just with tourists from Australasia and from south-east Asia as well; it's popular with tourists from around the world. So there are plenty of opportunities to invest and then to rent it out to tourists - particularly if you're buying good properties on the beach resorts then there are really good opportunities to rent out."

Henri Young, Marketing Director of developer Raimon Land, stated that there are several new projects and activities emerging, specifically aimed at the more sophisticated clientele. “More five-star international hotels are looking at Pattaya for sites. The Sheraton having a property in Pattaya is attracting a different sort of clientele…now there is a more diverse ex-pat community.”

Young continued, “The number of boats at Ocean Marina has increased. People are actually mooring their boats there now. It has added to the variety of recreational options. Golf, of course, is one of the prime attractions since there is something like 20 golf courses in Pattaya. The wind compared to other parts of Thailand is more consistent in Pattaya.”

The success of Pattaya’s annual Top of the Gulf International Regatta, sponsored by Raimon Land, Jomtien’s Ocean Marina Yacht Club, and Thai Airways has also affirmed that Pattaya has been placed firmly in the minds of the more affluent tourist further boosting the growth potential of Thailand property investment.

Craig Farley of Ashburton's Asia-Pacific equity team described rising income levels and urbanisation as a "key driver" for Thailand property investment. Asian Property Fund Manager at Henderson Global Investors, Chris Reilly, comments, "Corporate profitability is improving, unemployment is falling, wages are rising, interest rates are low, and there's a willingness to buy into assets. People are getting their money out of saving and into assets; otherwise they're competing with inflation."

For more information on Thailand property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on:
0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com

Monday, November 19, 2007

Bulgaria Property Moves Upmarket Away from its Traditional 'cheap 'n' cheerful' Image

Bulgaria’s Black Sea coast and ski region of Borovets have been attracting the attention of wealthy European and Russian investors for new luxury properties.

Cheap holidays, cheap skiing, cheap flights, cheap food and drink, and no exception cheap property – cheap has been a primary attraction for many foreign investors moving into Bulgaria. However, change is becoming apparent with property investment news reporting an increasing number of foreign investors looking for high-end opportunities. The capital, Sofia, is home to the majority of the country’s 200,000 millionaires, and Zoe Dare Hall of The Telegraph suggests that British property buyers, who make up 67% of all foreign buyers in Bulgaria, may be missing out on some promising property investments.

Generally, property prices have remained very competitive with current averages ranging between £550 and £1,170 per square meter, according to Colliers International. However, there is increasing evidence of the growing demand for larger and more luxurious properties, frontline or within close proximity to ski centres. Additionally, rising demand is originating from foreigners working for multinationals in Sofia and from Bulgaria’s emerging middle class, for properties within commuting distance to the capital. This growing demand for top-end properties is stimulating developers to push up quality levels in new properties, with a number of developments now offering good design and build qualities.

Kevin Prior of Obelisk comments “Luxury properties are still within the affordable range of many overseas buyers compared with more traditional markets such as Spain or Portugal". Obelisk is currently promoting two-bedroom, Alpine-style villas from £115,000 at Seven Lakes in the spa town of Dolna Banya, only an hour from the capital Sofia.

Supporting the increase in luxury living, Bulgaria is in the process of a number of investment projects to upgrade facilities with some lavish ski developments taking place in the mountains - the £345 million Super Borovets project, a mammoth development project, is just one. Spa tourism is also on the up leading the way towards attracting more upmarket investors and holiday makers. Since Bulgaria's EU accession foreign buyers' confidence in the country has grown.

To British buyers, Bulgaria may still primarily be a destination for low end investment rather than a second / holiday home or luxury investment, but with rising demand and supply of quality new builds, British overseas buyers may be forced to reconsider the market and look to why the rest of Europe views Bulgaria so differently.

To see the original article from The Telegraph, please click here.

For more information on Bulgaria property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on:
0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/
Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com

Tourism and Investment High on the Agenda for Turkish Government

In a bid to simplify the investment process and promote tourism, the Turkish government’s new campaign will have a positive effect on Turkey property investment.

Foreign investors looking at Turkey property investment will welcome news that the Turkish Government is to cut the number of procedures and paperwork in a bid to speed up the whole purchase process.

The Culture and Tourism Minister, Ertugrul Gunay, commented that the plans to cut "bureaucratic handicaps," and to put in place a more streamlined method, is hoped to attract more purchasers of Turkey property investment.

As part of a wider strategy to boost tourism, the government has also announced they will be investing an estimated £73 million into a tourism marketing drive, known as 'Four Seasons, 12 Months', in order to achieve increased levels of tourists in 2008. The Turkish Daily News reported that the government targets to boost tourism from 20 million in 2007 to 25 million in 2008.

The fly-to-let investor is a key factor in reaching these targets and as such, the reduction in paperwork will encourage more overseas investors to put money into Turkey property investment and to boost the quality and levels of tourist accommodation.

Ertugrul Gunay said he wanted to raise awareness of the country's other attractions, beyond its good beaches and sunshine. He added, "That is why we give priority to 'Four Seasons, 12 Months' tourism campaigns."
The tourism marketing plan is likely to create further economic growth with the emphasis on employment and revenue within the service sector benefiting foreign companies and private investors of Turkey property investment.

For more information on Turkey property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on:
0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com

Tuesday, November 13, 2007

Low US Dollar Advantageous for Buying Property in America

The fall in property prices in the US along with the low US dollar is good news for overseas property investors, with bargains on offer throughout most of the country.
The near collapse of the property market in America means overseas property buyers can pick up some huge bargains, and once the market recovers these prudent purchases will equate to big bucks.
In October, average house prices in the States fell sharply by 9.7% to £114,882 with sales down by 8%, the largest drop since January 1998. Property reports show that now is the time to buy in the US especially as you can purchase a four-bedroom villa near Orlando, Florida for £120,000 with the best buys within water or beachfront luxury developments.
Paul McMullen of Escapes2 comments, "Pockets within the States are also performing differently. To some extent, Florida has been insulated, as 30% of sales in hot-spot areas are to foreigners," he says. "But prices on resale homes in Orlando have taken a battering, down 30% in the past 18 months.”
Washington, Oregon, North Carolina, and select parts of Florida have remained stable with capital appreciation realised. The main risk areas have been identified as Mississippi and Louisiana, with resale properties hit hardest.
American property agent Christopher Wright comments, "Late-to-the-game speculators are likely to be penalised. Those applying the 'good things come to those who wait' principle, stand a good chance of turning a profit" suggesting that overseas property investors should be in the market for the long haul as opposed to a quick hit.
For more information on overseas property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on:
0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com

Half of Japan’s Property Investment Originates from Foreign Investors

Overseas property investors are continuing to invest in the Japanese real estate market regardless of recent price increases within certain areas of Japan.

Q1 of 2007, half of all Japanese real estate sales, amounting to $15 billion, involved a minimum of one foreign investor, equating to three times the amount of international investments in 2006 and three times the amount received by China in Q1 2007.

Property reports compiled by Jones Lang LaSalle highlighted that the overall property value had risen by 16% in the first half of 2007, with total sales generating $30 billion, equal to 55% of all property transactions in the Asia-Pacific region.

Japanese ski resorts in particular have received significant international interest. During the summer, the ski and golf resort of Hokkaido changed hands from Japanese to foreign ownership, and Hanazono Resort is now owned by Hong Kong business tycoon, Richard Li.

Koichiro Obu, real estate researcher at Deutsche Securities in Tokyo comments, “There are still a lot of foreign investors rushing into the Japanese real estate market and this trend is unlikely to stop in the foreseeable future because Japan is one of the very few markets in the world which has a positive yield spread.”

Goldman Sachs has already invested $13.67 billion in Japan and recently spent $1.4 billion on Simplex, a property developer. Previously, Goldman Sachs purchased the Tiffany building for a record $340 million. Morgan Stanley has acquired 13 hotels of $2.55 billion investing a total of $18.15 billion in Japan.

For more information on overseas property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on:
0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com

Monday, November 12, 2007

New Laws to Stabilise Vietnam’s Soaring Property Prices

50% property price increases since the beginning of 2007 have prompted a preliminary draft of new laws to curb bulk buying and create a sustainable market for property in Vietnam.

Vietnam’s property prices have risen exponentially since the beginning of 2007 fuelled by investors shunning the stock markets in favour of the more gainful property investment market. Policy makers and economists are now pushing for the new legislation in a bid to avoid a bubble and sustain the country’s high growth rates, for many years to come.

The draft proposal details measures to impose an annual tax on owners who have acquired more than one property, however, the law would not come into effect until 2010. At present only transfer taxes are payable on the sale of a property, but most sales are paid in cash making it difficult for the government to gage volumes and collect on capital gains tax.

Property agents remarked that the government plan allowing both Vietnamese living overseas and foreign investors to own freehold property has accelerated the rush to purchase real estate for future resale and thus affected prices.

Currently, scores of investors are queuing overnight to join the immense competition for off-plan property apartments, and property news has shown hundreds of buyers camping outside Singapore’s CapitaLand to pay deposits for a newly released project.

Nguyen Xuan Dao, chief executive of property developer Vietnam Property Inc. commented, "In some areas in Hanoi and Ho Chi Min City (HCMC), especially in the luxury condominium sector, prices have tripled in the past year alone,"

Dao commented that local real estate companies reported projects in Hanoi and HCMC had sold out prior to completion with developer PT Ciputra Development Tbk, now selling apartments for US$240,000, as opposed to US$80,000 in the previous year.

For more information on overseas property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on:
0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com

Thursday, November 08, 2007

Central 22 Obelisk’s New Property Investment in Slovakia Provides Big Returns

Obelisk are proud to launch their new project Central 22 in Slovakia’s capital city Bratislava, voted one of the best property investment markets in Europe.

Offered to clients at 21% below market value, at an extremely low entry cost of £29,975, with a projected profit of up to £472,781 over 5 years, and a guaranteed rental yield for 24 months on completion, Central 22 is affordable and lucrative over both the short and long term.

Strategically located, the development is only 8 km to Bratislava city centre, 60 km to the Austrian capital Vienna and 150 km to Bucharest. Central 22 lends itself not only to Bratislava’s primary commuter belt, but also the central European business community, in particular Vienna. A new motorway is due to be completed by the end of this year, reducing the travelling time between the two cities to 30 minutes. There is also a high-speed catamaran service via the Danube.

Bratislava’s International Airport is becoming an increasingly popular destination for low-cost airlines, such as Ryanair, with many direct flights from most major European cities. Recent changes to flight paths and air connections have led to a doubling in the number of flights to Slovakia.

Tim van Dijk Project Manager at Obelisk comments, “The availability of homes as opposed to apartments, outside the Bratislava city centre is scarce with limited current supply. Slovakia has an approximate 220,000 domestic housing deficit, which in any overseas property investment, an acute shortage of property will greatly enhance the profit margin.”

The development itself comprises of four bedroom detached and semi detached houses and three bedroom town houses, all set within landscaped grounds overlooking a huge man-made lake and its associated sporting & leisure facilities. The high specification houses will include allocated parking and private gardens.

Bratislava is a cosmopolitan city increasingly attracting both tourists and foreign investors for its breathtaking scenery and its exciting mix of a modern city combined with a vibrant history and culture. The city’s rich mix of cultures is present throughout the customs, cuisine, and lifestyle.

Bratislava is home to over 500,000 permanent residents and is Slovakia’s strongest and fastest-developing property investment market. A further 130,000 people commute into the city every day.

Van Dijk concludes, “Slovakia has the fastest-growing economy in Europe, and two upcoming events, entry into the Schengen Zone in 2008 and the adoption of the Euro in 2009, are set to accelerate the country’s growth in popularity, investment, and development.”

Despite an average 21.3% year-on-year growth in property prices, Bratislava remains one of the cheapest and most affordable cities in Europe. Strong economic growth, low income tax, no capital gains tax and very low transaction costs are the main reasons for the influx of investors to Slovakia, which will further encourage capital appreciation in Bratislava.

About Obelisk
Obelisk offers clients the opportunity to invest in specially selected real estate projects from around the world. Clients 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 on overseas property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on: 0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com

Overseas Holiday Home Buyers Missing Valuable Rental Income

In the overseas property investor world, renting properties is second nature, but many holiday home investors are not taking advantage of the profitable holiday periods.

Latest property research has shown that the majority of holiday homes lie vacant for up to 50 weeks a year, therefore failing to tap into a money spinning opportunity. Property research has revealed more than 30% of holiday homeowners only visit their properties a couple of times a year and fewer than 15% of owners have considered renting their holiday home.

Chris Green Project Coordinator at Obelisk comments, “Inflated property prices in the UK and Ireland means that many buyers have been priced out of their home market, hence a major shift in the volume of British and Irish buying abroad; both the seasoned property investor and the lifestyle buyer.”

“But so many property owners use their property exclusively and for such a short period, failing to tap into a huge income generator by renting out their property. Depending on the type of property, this can equate to an average £200 per week or £10,000 per year for a one bed roomed apartment. This in turn could fund any financial commitments for their properties at home or abroad.”

Rental income is a major benefit to those who own property in tourist and business areas. Property owners can take advantage of returns created by overseas property investment via renting in a buoyant market.

However, many holiday homeowners dislike the idea of renting their home to strangers in the event of damage and inconvenience of administration. However, property management companies who offer services such as drawing up contracts, marketing via different media channels, and maintaining and cleaning the property, take away these common fears.

Obelisk’s free global property reports provide overseas property buyers with a wealth of user-friendly knowledge such as a country’s purchasing procedure and the potential rental and resale financials, to equip all types of investor.

Obelisk is currently in the process of completing the 2008 reports with Bulgaria, Brazil, Northern Cyprus, Turkey, and Slovakia already available on Obelisk website. These guides show key market indicators for the coming year, new rental figures plus the tourism and local market data creating the profits.

Mr Green concludes, “Our reports guide both the practised and the lifestyle investor through the crucial factors, governing a countries potential for an overseas property investment. The purchase process is set out to give the user a clearly defined view of how it all works along with all important revenue prospects.”

For more information on overseas property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on:
0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com

Monday, November 05, 2007

Obelisk® reports on Property Investment Gem Bratislava

As a popular jet-to-let choice for investors, Bratislava has been voted the 6th best place for overseas property investment, due to a reported 20% appreciation.

In a property report compiled for the Telegraph, Bratislava came within the top ten places to make money from property, and as a popular jet-to-let choice for overseas property investment; the strategic location provides vast potential return.

Obelisk’s research has shown the average property and rental prices in Bratislava are over half the price of property in Austria and at only one-hour’s drive from Vienna, Bratislava provides an appealing commuter base for the Viennese.

Tim van Dijk Project Manager at Obelisk comments, ‘Slovakia is one of the most attractive FDI destinations, with low flat-rate tax of 19% and various incentives for all types of investors. Slovakia has considerably reformed its legal system in order to attract more FDI and is now one of the most appealing overseas property investment options in Europe.’

The World Bank has praised the fast changing business environment in Bratislava, and a huge overhaul on the tax and social welfare systems is attracting more foreign investors. The stable economy is forecast to grow at an average 4% per annum, giving a clear indication that Slovakia’s economy is developing swiftly. Property price growth is set to continue at 15–20% for several years, fuelled by the huge demand from locals for quality properties.

Outperforming its neighbours in terms of attracting top brand manufacturers, Slovakia is now the largest per capita carmaker, with names such as Peugeot-Citroën, Volkswagen, Ford, Kia, and Hyundai. With the increased employment comes an increase in disposable income. This coupled with a liberalisation of the financial services market has prompted a strong local demand for property, further influencing property prices.

Demand is strongest for new-build apartments in Bratislava. A new motorway connecting the city with Vienna will be completed soon, which will reduce the travel time by 30 minutes, as well as the low cost airline services to and from the UK. The centre of Bratislava has a combination of many historical elements from medieval to baroque, 19th century to early 20th century with tree lined squares and avenues lining the Danube.

The relocation of foreign manufacturers and an enormous amount of construction of new infrastructure are clearly visible. Unemployment is falling at a significant rate and a considerable increase in tourism has taken place, helped by the increase in budget airline carriers.

Van Dijk concludes, ‘The new off-plan developments in and around Bratislava may ease foreign demand for property investment, but the vast local demand will not only provide longevity to the market, but will also aid the short hold investor when entering the resale market.’

To view the article compiled by the Telegraph: Top 20 cities to make money click here:http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2007/10/27/pneweurope127.xml

About Obelisk
Obelisk offers clients the opportunity to invest in specially selected real estate projects from around the world. Clients 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 on overseas property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on:
0808 160 0670 (UK) or 1800 932 514 (IRE)
Email info@obeliskinternational.com
Visit our website: http://www.obeliskinternational.com/

Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com