A new political era begins for France as it elects right-wing Nicolas Sarkozy as its head of state. Property development in France along with energy, environment, property development, supermarkets and insurers are just some of the sectors that could see impact from Mr Sarkozy’s reform plans according to Alain Bokobza, head of European equity strategy at Société Générale quoted in the FT. Mr Bokobza believes insurers could also suffer, as Mr Sarkozy has promised to scrap inheritance tax for all except the richest negatively affecting sales of life insurance, often bought as protection against tax on inheritance. On a positive not one of France’s largest construction and communications conglomerate, Bouygues, saw its shares rise more than 4 per cent.
Continue reading ‘Newly elected President Nicolas Sarkozy good for French property development’

Factors likely to draw more foreign property buyers to Turkey were outlined at The Association of Real Estate Investment Companies (GYODER) Real Estate Summit last week in Istanbul. Key industry professionals gathered to discuss real estate opportunities in Turkey’s main property markets. It was concluded that a Turkey had become more attractive to global investors thanks to a less restrictive policy on foreign investment focusing on the increased flows of global capital into Turkey’s real estate industry key market of Istanbul in particular.
Continue reading ‘Turkish property attracts global investors’

Could we be about to see the end of the road for the Bulgarian investment dream?

For an ex-Communist country that hardly featured on any investor’s radar just a few years ago, Bulgaria’s fortunes have skyrocketed in recent times, with hundred of thousands of investors and house-hunters drawn to its ski resorts and Black Sea beaches in the hope of starting a new life or cashing in on this much-hyped overseas property investment hotspot.

Thanks to widespread media coverage and extensive World Bank investment, Bulgaria has topped the lists of the world’s fastest growing property locations where sustainable income can be achieved for a fraction of the cost of most other European destinations. However, a UK newspaper has cast a cloud over the Bulgarian property horizon by claiming that rogue estate agents and in particular the Bulgarian mafia are targeting unwitting individuals seeking their dream homes in the sun, leaving people duped and financially devastated.

Continue reading ‘Buyer Beware corruption in Bulgaria, Spain, UK…’

All Eyes on Egypt Property

Overseas property investors have turned their attention to property in Egypt as the next big emerging property market. The stylish Red Sea Riviera tourist revolution began with a few scuba divers and has since morphed into one of the world’s premier diving destinations with renowned underwater appeal. The Zafarana Beach Resort is the realisation of the vision of an international development company offering real estate investors a unique opportunity to invest early into an up and coming tourist and lifestyle resort.

Continue reading ‘Zafarana Beach Resort on Egypt’s Red Sea Riviera’

The world has been watching Turkey this week, following the recent political unrest that has seen millions of ordinary Turks take to the streets in defence of their secular constitution, ahead of the forthcoming Presidential elections. Interest in the country hasn’t been limited to politics – seasoned overseas property investors have commented on the country’s economic resilience and stability in the midst of the clash between the majority secularists and minority Islamists over the proposed, highly controversial, Presidential candidacy of current Foreign Minister and Islamist Abdullah Gul. However, property prices throughout the country have remained stable as many in the know hold the view that the economic and social reforms being so staunchly defended by protesters can only make the country as a whole an increasingly attractive investment option. The Turkish market has shown itself to be resilient in times of crisis, something that cannot be said for the fluctuating fortunes of other investment hotspots: following the 1997 coup in Turkey and resulting economic meltdown, a set of reforms were put in place and, as a result, the GDP growth rate was seen to soar to over 7% in just a few years.
Continue reading ‘Turkish Property Holds Its Own’

Fast becoming a regional airport, at the start of 2007, Abu Dhabi International Airport (ADIA), has received a 25 per cent increase of total passenger traffic to reach 1.575 million compared to 1.255 million passengers during the same first quarter period in 2006.

Abu Dhabi is looking ahead to the future, beyond oil revenues and it’s tourism profits that the emirate has in mind. The increase in passenger traffic sits firmly in line with the emirate’s vision of becoming a world-class destination and it’s master plan to foster a thriving market for Abu Dhabi property and a drive for economic development. Continue reading ‘Award-winning Abu Dhabi International Airport Q1 air passenger traffic up 25pc’

Set on the Al Marjan Island, Bab Al Bahr, the first project developed by Rakeen Ras Al Khaimah’s newest property developer and master resort planner will be a luxury master planned community valued at AED 1.2 billion.

Launched today, Bab Al Bahr set on Rakeen’s man-made coral-shaped scheme extending four kilometres into the Arabian Gulf. Offering 360 degree sea views and private beachfronts, the Bab Al Bahr luxury resort when complete in 2009 will comprise a 290-room deluxe hotel incorporating 120 time-share apartment, 710 freehold residential apartments in five buildings as well as a 25-storey retail and office tower deemed to be the business headquarters of the island. Continue reading ‘Rakeen launches Bab Al Bahr luxury resort in Ras Al Khaimah’