Property Investment Potential 2008
Financial and property markets throughout the world have experienced some highs and lows during 2007. Perhaps most remarkably, is the US sub prime lending which saw the near collapse of Northern Rock. However, consumer spending has remained stable, especially in the tourism industry. British Airways passenger figures were up by 2.4% in November 2007, and Ryanair’s expanding operations put their on-target year-end profits to 10%.
In terms of property investment for 2008, London continues to be rated as one of the top places to make money through property. However, higher lending charges and interest rates in the UK, plus single figure growth rates, somewhat taint the residential market.
According to the European Central Bank, the credit crunch has had little or no impact on household borrowing within the Eurozone; growth has held steady at 6.8% per month since September, with demand for business loans remaining unchanged at a monthly rate of 13.9%. These positive EU indicators are a factor of internal, as opposed to external, commercial exchanges reducing the risks of international cross-border banking.
Solid financial foundations within the European Union and the emergence of new members make for some interesting and bullish investment conditions. Since 2005, Bulgaria alone has seen a vast amount of foreign direct investment (FDI) and currently ranks 5th in the worldwide FDI table.
In terms of the residential real estate market, Knight Frank Global Price Index listed Bulgaria’s annual property price growth at 30%. However, a vast number of property experts believe the Bulgarian cities, and their surrounding areas, are the places to invest. The Residential Investment Index Q3 2007 from Property Investment News shows Sofia’s property prices have increased by 5% within the last 6 months alone.
Sofia’s European café culture has attracted big names such as Chanel, Versace, and Chopard, creating a high-end luxury market in the city. This is also reflected in the type of development projects now being constructed to meet demand from overseas property investors, and those relocated high corporate earners from companies such as Nestle, Danone and Nokia.
James Gonzalez, Market Analyst at Obelisk comments, “The rise in FDI has undoubtedly influenced the property market in Sofia, in both the residential and commercial markets. Luxury residential properties are now in huge demand primarily driven by international buyers and multinational workers. Going forward into 2008, the rise in luxury house prices will keep pace with the overall residential market growth of an average 30% - 40% per annum.”
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 or visit our website:http://www.obeliskinternational.com/
Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com
In terms of property investment for 2008, London continues to be rated as one of the top places to make money through property. However, higher lending charges and interest rates in the UK, plus single figure growth rates, somewhat taint the residential market.
According to the European Central Bank, the credit crunch has had little or no impact on household borrowing within the Eurozone; growth has held steady at 6.8% per month since September, with demand for business loans remaining unchanged at a monthly rate of 13.9%. These positive EU indicators are a factor of internal, as opposed to external, commercial exchanges reducing the risks of international cross-border banking.
Solid financial foundations within the European Union and the emergence of new members make for some interesting and bullish investment conditions. Since 2005, Bulgaria alone has seen a vast amount of foreign direct investment (FDI) and currently ranks 5th in the worldwide FDI table.
In terms of the residential real estate market, Knight Frank Global Price Index listed Bulgaria’s annual property price growth at 30%. However, a vast number of property experts believe the Bulgarian cities, and their surrounding areas, are the places to invest. The Residential Investment Index Q3 2007 from Property Investment News shows Sofia’s property prices have increased by 5% within the last 6 months alone.
Sofia’s European café culture has attracted big names such as Chanel, Versace, and Chopard, creating a high-end luxury market in the city. This is also reflected in the type of development projects now being constructed to meet demand from overseas property investors, and those relocated high corporate earners from companies such as Nestle, Danone and Nokia.
James Gonzalez, Market Analyst at Obelisk comments, “The rise in FDI has undoubtedly influenced the property market in Sofia, in both the residential and commercial markets. Luxury residential properties are now in huge demand primarily driven by international buyers and multinational workers. Going forward into 2008, the rise in luxury house prices will keep pace with the overall residential market growth of an average 30% - 40% per annum.”
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 or visit our website:http://www.obeliskinternational.com/
Press Office: Tel: 0808 160 1005 or email press@obeliskinternational.com
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