Overseas Property: Invest in the U.S. early in Israel - late





13.03.2012 09:30
Articles about real estate | Overseas Property: Invest in the U.S. early in Israel - late Last year, it seems, all the powers that be finally moved to a permanent residence in London. Because of the rallies demand for investment abroad increased by 30%. The world finally split: the activity observed in the lower segments, and a more expensive house ultrapremialnoe.

U.S.

The number of seizures of homes declined for the debts for the year from 1 1 million to 830,000. The median price of a family home on the secondary market rose to 29 out of 149 agglomerations in the IV quarter of the year. In the two metropolitan areas the prices have remained unchanged, and in 118 areas showed a decrease. The median price was $ 163,500, which is 4.2% less than last year ($ 170,600). In the lower price segment there is a high activity. The share of sales of troubled real estate (confiscated by banks for debt at a discount of 15-20%) accounted for 30% of all transactions in the IV quarter - less than a year earlier (34%).

Total number of transactions in the secondary market, including family homes and condominiums rose by 9.2% a year before the 4.42 million at the end of IV quarter of the secondary market have been put up for sale 2.38 million objects, which is 21.2% lower than previous year (3.02 million). The share purchases by cash, a year ago, was 29%. Investment transactions - 19%. The share of first home buyers accounted for 33% of the transactions in quarter IV.

In 2012 the U.S. housing market will not be attractive for investment. The earliest - it's the middle of 2013 After the mortgage loans will be refinanced under the 4% real estate funds will build their portfolios from economy-class facilities worth up to $ 350,000 in small towns and up to $ 500,000 in metropolitan areas.

Western Europe

UK. In 2011 appeared in the country 26,744 new "home for millionaires." Now there are 253 118 properties worth over 1 million pounds (every 108th House). For comparison, the peak in 2007, only one in the 97th house was worth more than 1 million pounds. But in the rest of the country home prices have fallen. The average value of the object was in December 2011 221,128 pounds, which is 3% lower than in December 2010 (228,658 pounds), while property worth more than 1 million pounds per year has risen by 2% from 1,657,858 to 1,688,379 pounds. While most market participants suffering from the effects of inflation, stagnant wages, inability to obtain mortgages and uncertainty about the future of the economy, in the upper market segment, wealthy buyers can count on the lowest mortgage rates.

In 2011 in England, began 98,250 buildings (4% less than in 2010).

PORTUGAL. From 1996-2006. growth in property prices in the country did not exceed 10% (in Germany), while in neighboring Spain, housing for the same decade, increased in price by 110%. During the recession developers in Portugal did not make significant discounts, as sales of new buildings has remained quite high. This was mainly due to foreign demand. Portugal has never experienced a construction boom, the market was not saturated, so the property was not overvalued. However, sales are down because of the impending crisis in the eurozone. Also affected by limited access to mortgages and unemployment (11%).

Mediterranean

Cyprus. In 2011 the number of transactions was lower than the crisis in 2009, and declining home prices have not yet shown signs of recovery. This resulted in a shortage of credit resources and the situation in Greece. The number of transactions decreased amid growing flow of tourists, last year visited Cyprus to 11% more tourists. Since 2009, the cost of apartments in Cyprus has fallen by an average of 19% of homes - 12%. In the domestic market in January 2012, sales grew by 97% compared to the same period last year due to the introduction of tax credits at the end of 2011 only in January 2012 was concluded 700 transactions (in 2011 - only 354 .) Foreigners are buying less (minus 37% per year). The most significant drop in sales was recorded in Nicosia (-77%), Larnaca (-72%), Famagusta (-48%), Limassol (-21%).

Others

ISRAEL. During the global financial crisis, housing prices in Israel increased by tens of percent (in some areas of the country's growth for the year amounted to 40%). Now the real estate market is the Middle Eastern country is preparing for a hard landing. The average housing costs in the III quarter of 2011 amounted to 1.0811 million shekels ($ 284,941). In Israel, the rise in prices was wearing a speculative nature. Now banks have to raise the floating rate, those who invested in real estate of this country, waiting for a collapse.

In December 2011 the number of purchases of new housing fell by 46% year on year (7400 apartments). The share of investors had 26% of all transactions in the primary market, while the previous year - 33%. However, while new housing has fallen in price by only 1%. In the secondary market prices have fallen in the most popular areas with expensive apartments (in Tel Aviv and Sharon).

CZECH REPUBLIC. Since the crisis began in 2008 prices fell by 30%. In the fall of 2011 continued and reached 15%. The property market in Prague last year, supported entirely by Russians. The crisis in the euro area will lead to a further decline in prices. Over the next three years, housing in the capital could fall in price by 40%. With the new year in the Czech VAT rate was increased from 10 to 14%, which, no doubt, affect the demand for housing.

Bulgaria. The cost of housing in the country fell by 10%, the drop was noted, and at such a popular resort for Russians Varna, and the ski resort of Bansko (-25%). By year-end average market price of 1 sq. m. m was 887 leva, or 453 euros. 1 sq. m. m in Sofia costs an average of 743 euro, Burgas - 596 euros.

falls and the number of transactions. In the lower price segment there is a high activity, popular apartments costing less than EUR 50 000 in major cities. Decline in housing prices in the country took place against a background of increasing numbers of tourists. Over three quarters of 2011 Bulgaria was visited by 30% more tourists than the same period in 2010
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