Influential Nakheel chairman Ali Rashid Lootah feels that Dubai housing market will lead the Emirates recovery after it took a battering during the global recession Property in Dubai is predicted to lead the economic sectors through to recovery according to Lootah. The Chairman of Nakheel optimism comes from stability evident in the property market, including stable rents and property prices. He said...
London appears to be immune to the global slowdown with central London house prices strong driven by overseas buyers and High End spenders. One negative effect on this is those who work in London cannot afford to live in the city. Recent reports show a growing trend by London commuters which is to live in a camp site within easy commuting distance. There are an increasing numbers of people living in...
A Place in the Sun Live, the UK’s biggest and best-attended overseas property exhibition, returns to Birmingham with a feature-packed show at the NEC on 1st-3rd October 2010. Based on the hit Channel 4 TV series, the award-winning A Place in the Sun Live promises an all-encompassing look at how to get onto the overseas property ladder.Following the successful London event in March, A Place in the Sun...
David Cameron has become the first Prime Minister to rent his home to tenants in decades and is set to make a today income as a new landlord. It appears that the Conservative Prime Minister is counting the pennies and may be demonstrating that he is not immune from the cuts. Speculation is that the PM’s salary recently reduced to £142,500 and frozen for five years may be behind the move. The...
This week’s Bank of England Inflation Report could cause problems for Sterling; Euro rate steady while US Dollar rate remains at its cheapest since February Change last week: GBP against: Change: Difference on sending £100,000: EUR -0.1% £100 more...
A calculation error by one of the UK’s largest banks has resulted in thousands of mortgage customers facing increased mortgage repayments. Around 18,000 mortgage customers of the Clydesdale and Yorkshire Banks have been contacted about errors in the way their mortgage payments were calculated following last year’s unprecedented interest rate reductions. It is understood that customers are facing hikes...
The Pound has come under increasing pressure in the last 2 weeks, but faces a tricky time ahead, according to economic forecasters. Tomorrow’s GDP figure, which is the first estimate of growth in the UK economy over the second quarter of 2010, is likely to have a significant impact on sterling. Analysts expect a quarterly growth rate of 0.6%, and anything closer to zero would put the Pound under...
Whilst it may not be good news for savers, borrowers were given a boost this week after falls in money market rates indicated that low interest rates may be here to stay. Recent worse-than-expected inflation figures had led the markets to believe that an interest rate rise may be on the way. However, with inflation fears receding, the likelihood of a rate hike is reducing, resulting in money markets...
ADIT Brasil will hold its next members meeting in Florianópolis, Brazil on the 5th of August. This will be the first members meeting since the Association for inward investment in real estate and tourism, has announced that it is widening its influence to cover the 27 states of the whole of Brazil and not just the nine states of the Northeast region. Its name has been changed from ADIT Nordeste to ADIT...
Tougher regulation by the Financial Services Authority will make is even harder to secure a mortgage for UK buyers . The Financial Services Authority (FSA) planning even tougher regulations in early 2011, senior figures within the industry are claiming that the housing market faces ‘an abyss’ if these new proposals come into force. The FSA plans to: Restrict the amount lent to borrowers Outlaw...