When it comes to buying property abroad the South Koreans know how to flash the cash. In fact Koreans spent $780 million on real estate abroad in 2006, 34 times more than in the previous year. Blomberg.com reports that the surge followed the relaxation of government controls imposed during the 1997-1998 Asian financial crises. This year, the Finance Ministry tripled the maximum...
Real estate agent
The Valencia Region of Spain is one of the most popular places for foreigners buying property. A recent report notes that approximately 22% of all property purchases last year in the Region were sold to foreigners. Salvador Villa, president of the Valencia Association of Real Estate Promoters indicated that of the nearly 150,000 homes sold, almost 33,000 of them were to foreigners. Spain is the...
CEO of propertyfinder.com a UK based property portal has hit out at claims made by Estate Agency News that stated that propertyfinder were not prepared to release official traffic figures to the property web site. Propertyfinder is one of the UKs major property portals and was purchased in November 2005 by Australia’s property portal, realestate.com.au, and News International, owners...
Property prices in Hungary are slowing and may even be shrinking in certain parts of the region. Hungarian property investors appear to have lost the will to invest in their own region. The Budapest Times reports that Hungarian property agents are now looking to overseas property investors to help the housing market regain its confidence. In particular Budapest property agents are marketing luxury...
Indications for a positive start for this year’s construction and property sector in the UK can be seen from the home builder Bovis, property portal Rightmove and estate agents Savills. All are set to exceed city predictions with for their pre tax profits. Bovis Home Builder The Bovis Group started building homes in1965 by forming Bovis...
A Place in the Sun Magazine which is published 13 times a year by Brooklands Media Ltd in the UK have announced the result of a survey which gives the top 20 places to buy property abroad. Matt Havercroft editor of the overseas property magazine writes’ The idea was quite simple , really to conduct a survey among our readers and visitors to the A place in Sun Live property exhibitions...
Righmove.co.uk the UKs largest property website has controversially signed a contract with the governments Valuation Office Agency (VOA). The contract will see Rightmove handing over data to the government that will help tax banding. The government department which is part of HM Revenue & Customs allocates council tax bands to every home in England and Wales. The information that...
With the cooling UK real estate market and a dramatic increase in housing prices, those looking to sell property in the UK are having a hard time deciding what to do next. Interestingly enough, housing prices have increased by 5.3% in November 2006, while the preceding months of September and October only yielded 4.3% and 4.9%, respectively. The current figure of over 5% has been shown to...
When you’ve invested in real estate in Chicago, Illinois, you already know what kinds of benefits you’re getting. It’s a great city with lots to do, excellent restaurants and exciting sporting events. You can live near the water without the problems of hurricanes and you get to enjoy all of the seasons – from brisk falls to snowy winters, mild springs, and hot...
Californian home owners and Californian house buyers receive news this week that could change both their fortunes. Bloomber.com report worrying news in the Californian housing market concerning California mortgage defaults. Mortgage arrears and subsequent defaults rose to their highest level in four and a half years. Banks and other mortgage providers sent 26,705 default notices to California...