Thanks to record end of year bonuses, which saw lucky City types pocketing over £20 billion between them, residential property prices in London have surged in the first quarter of 2007, achieving unprecedented price growth despite interest rate rises intended to curb the upward spiral. With the value of some £5 million-plus houses in the capital apparently rising at the rate of 50% per annum, prime central areas are predicted to see price rises of around 20% for 2007. The average selling price of prime London property has grown by a massive 27.4% over the last year to reach just over £1 million, a record for the region. Key drivers behind this staggering growth are continued massive demand for an increasingly short supply of quality property, which does nothing but push prices higher into the stratosphere. Wealthy overseas buyers have seeped into the market recently, taking early advantage of prices that are only expected to rise as London becomes regarded more and more as the world’s financial capital. It has been claimed that between 80 and 100 buyers compete for each property in the capital’s more exclusive areas, not helped by a large 25% drop in supply on last year. London’s bricks and mortar have increasingly become seen by serious investors as offering better potential for high return than traditional investment vehicles and as such, the capital’s property has become the physical equivalent of serious blue chip stock, with demand consistently outstripping supply, much to the delight of home owners and agents throughout the city, in particular those based in Chelsea (up 41%), Belgravia (up 43.3%) and North West London (up 37.5%).

Continue reading ‘London Houses The Priciest Piece of the Property Pie’

Today, Nicolas Sarkozy took over the reigns of the French presidency from Jacques Chirac in a handover ceremony at the Elysee Palace in Paris. Following strict protocol, the inauguration ceremony which was watched by family, friends and leading politicians included the official election result, announced by the head of the constitutional council after which Sarkozy received the insignia of office.

His speech as new head of state began, “My thoughts are first with the French people,” he said. “This is a great population, with a great history, who have risen up to say that they believe in democracy.”

Sarkozy’s hard won appointment is expected to be a positive step forward for France, it’s economy, people and in particular the French property sector.

101 Essential Overseas Property Resources has been complied by Nubricks in response to the overwhelming amount of information dedicated to Overseas Property now available. With new books, guides, magazines and websites springing up every day, we decided to make life a little easier, seperate the wheat from the chaf and put the best resources into one place. If you think we’ve missed one, please drop us a line and let us know.
Continue reading ‘101 Essential Overseas Property Resources’

The historic Danube Bridge II began its construction yesterday, with the prime minister of Bulgaria, Sergei Stanishev, symbolic ground breaking at the bridge’s proposed location at Vidin-Calafat reported the Bulgarian News Agency.

Continue reading ‘New Danube Bridge project to bring Bulgaria-Romania border prosperity’

Mont Kiara located in the Klang Valley, is situated to the north of Kuala Lumpur in Malaysia. A short 15-20 minute drive from KL centre it is ideal for expats and holiday home buyers alike.

Mont Kiara is a relatively new up and coming area with a lot of construction going on at present. Infrastructure has been drastically improved and the area has less traffic than inner suburbs. Mont Kiara is a mix of both commerical and residential areas and has attracted the attention of many overseas property buyers especially from Korea. It boasts golf clubs, a stadium and equstrian club in its midst.

The Malaysian government is actively trying to improve the environment for people looking to invest in the country, the upshot is that its capital city, Kuala Lumpur has become the regional headquarters of Continue reading ‘Mont Kiara Property popular with expat buyers’

Egyptian Property

At just five hours flight time from the UK, Egypt is truly a world apart. A land which exudes the richness of the exotic, the land of the camel has warmly welcomed a steadily increasing flow of millions of tourists per year, visitors returning again and again to experience the distinctive hospitality of this really rather special part of the world. Whether it’s the pyramids or the dive sites of the Red Sea that attract you there in the first place, Egypt has a unique pull that captures the imagination and leaves the visitor wanting more. Needless to say, with tourists flocking to the country for years, it was inevitable that the market for property in Egypt would follow suit and now savvy investors, second-homers and retirees alike are rushing to the market. Attracted by the country’s low cost of living and year-round sunshine, many buyers are ditching traditional overseas markets in favour of Egyptian property, assured of excellent rental returns and capital gain.

Continue reading ‘Egypt Property Investment the hottest newcomer in 2007′

Nubricks resident international property expert Chintan Mahida offers her suggestions to put you on the right track to choosing a good overseas property agent.

IN THIS FEATURE…

1. Find overseas property agents with Nubricks.com
2. Seek and you shall find online
3. I know a man who can
4. Local property expert or big shiny overseas company
5. Come fly with me
6. An agent is for life not just the summer holidays
7. Don’t get conned buying property overseas
8. My reputation precedes me
9. Added extras
10. Make your life easier

Find overseas property agents with Nubricks.com

Deciding you want to buy a property abroad is probably the easiest bit as there are so many beautiful locations and lifestyles to choose from. Most international developers and vendors with a property for sale overseas use an estate agent to market their property, given that you are not buying locally in these circumstances, most people choose to go through an overseas property agent. “Choose your overseas property agent wisely” cautions Nubricks Chintan Mahida. “Selecting a good overseas property agent is paramount as he or she needs to be someone reliable who can be your eyes and ears throughout the buying process and beyond to completion.” “It’s a bit like the Crystal Maze, there are pitfalls to avoid and hurdles to overcome, property and tax laws vary from country to country, and language barriers can make transactions tricky.” Continue reading ‘Choosing A Good Overseas Property Agent - 10 Things You Must Know’

Holiday makers and second homers have long enjoyed a deep and abiding love affair with the Greek islands but analysts are now suggesting that Greece, particularly the island of Crete, could be the next property hotspot in Europe, snatching the baton from the dwindling Spanish market as overseas property buyers start to eye up homes in Crete. One of Greece’s largest islands, Crete has proved its worth as a popular alternative to Spanish Costas and offers the purchaser a diverse range of property options, ranging from tourist-driven resort accommodation to rural idylls in the middle of nowhere. The birthplace of Nana Mouskouri, the Olympic Games and European civilisation itself, the island’s year-round sunshine, 93 Blue Flag beaches and dramatic coastline, have enticed investors, who have flocked to its shores, eager to follow the tried and tested route of buying a home in a location you love. 16 million tourists visit Greece and its islands each year, 3 million of those heading to Crete, some of whom, will naturally love island living enough to search for second homes in Crete. With buyers benefiting from a smooth purchase process and the security of freehold ownership unattached from expiry dates (which means that the investment can be passed on to descendants), the Creten property market has seen strong capital growth of 15 per cent year on year since 2000. Homes on Crete range from boutique Cretan developments which tend to be small and discreet, constructed sympathetically in keeping with the local surroundings and hold special appeal as new developments in Crete are restricted by both height and size guidelines.

Continue reading ‘Homes in Crete to gain from newbie ‘hotspot’ status’