The real estate market in Orlando, Florida has been boosted by its appeal as a tourist destination, one local expert has claimed.
Jonathan de Jesus of the Dominium Realty Group explained the property sector in this region of Florida has fared better than elsewhere in the US for a few reasons.
“There are still plenty of homes being bought and sold, particularly in a market like here in Orlando where we have plenty of warm weather and international tourism to keep things interesting,” he stated.
Mr de Jesus added large attractions like Walt Disney World enhance the appeal of purchasing a property in Florida, while the lower prices available at present are also attracting buyers.
He noted European investors can do particularly well at the moment, thanks to the weak dollar against the euro.
Editor of A Place in the Sun magazine Liz Rowlinson recently commented that there are “some amazing bargains” available in the US real estate market.
She singled out Orlando as a destination where investors can get a lot for their money, noting that looking for villa-style homes could be a good option due to an oversupply of this kind of property.
Murcia looks set to be the next big destination in Spain and buyers may want to consider their investment options here, if one local agent is to be believed.
Steve Long, chief executive officer of CasaCalida Property Group, has highlighted several attractions that make the Spanish region stand out.
Among them are Europe’s largest shopping mall, a new continental airport and the proposed development of the Paramount theme park.
Mr Long commented: “I have been telling people for years that Murcia is the best place in Spain, if not in Europe, to invest in property.”
He added there are comparatively few Spanish real estate developments on the market in the area, which means demand will far outweigh supply should the projected visitor numbers - of three to five million tourists each year - for the new amusement park prove to be correct.
In December last year, Proyectos Emblematicos Murcianos SA, the promoter behind the Paramount attraction, announced it would complete the purchase of the land required for the project on February 6th.
Brits who have moved to Spain are the happiest expatriates (expats), according to a new survey.
The research, carried out by Lloyds TSB International and published by The Telegraph, revealed that 75.9 per cent of those questioned said they were happier living in Spain than they had been in the UK.
On average, 68 per cent of expats claimed they were more content when residing abroad than they were in Britain.
John Kramer, an expat living in Andalucia, told the news provider Spain offers an “outdoor lifestyle, traditional family values and positive outlook on life”.
Those considering purchasing a property in Spain with the intention of moving to the nation may be encouraged by the findings of this study.
A Place in the Sun magazine recently revealed the country remains the top choice for Brits looking to buy real estate overseas.
The publication quizzed visitors at two of its live exhibitions and found Spain was a more popular option than other favourites such as France, Portugal, Italy and the USA.
The value of prime residential property in Kuala Lumpur in Malaysia fell by 5.6 per cent over the course of 2011.
In the latest Knight Frank Prime Global Cities Index, the city was ranked 20th out of 23 locations surveyed based on the annual decline in real estate prices.
However, the data indicates this downward trend in Kuala Lumpur is beginning to slow, with such assets shedding just 0.6 per cent of their value during the final quarter of last year.
Kate Everett-Allen, of Knight Frank’s international residential research team, explained prime property markets around the world continued to outperform their mainstream counterparts, despite seeing prices slide over the last 12 months.
She added any climb in real estate values experienced in 2012 will be bolstered by a “flight of capital from troubled world regions”, coupled with a desire among investors to expand their property portfolios rather than focus on other asset classes.
A report published last month by the Real Estate Housing Developers’ Association Malaysia found increasing optimism among the nation’s house builders, with 74 per cent of those questioned expecting prices of homes to rise this year.
France has been named as one of the top ten national brands in the world by the recent FutureBrand Country Brand Index - and one real estate expert believes that the image it projects is one of the reasons why investors are attracted to the destination.
Commenting on France’s ninth position in the survey - which covers 113 countries - business development manager of Terresens Charlie Williams noted that despite the ongoing economic crisis in the eurozone, France still has “a timeless appeal”.
“It has an unbeatable reputation and with a solid country brand, people will always stop by and visit, making this a reliable bet for property investors,” he added.
According to the FutureBrand study, France was ranked at number 13 in the would most like to live in category.
However, it came in second and third place respectively for food and attractions, while it also performed well in the history and art and culture sections.
Its strong perception among tourists could therefore make French property a good investment for anyone who wants to target the holiday rentals market.
One expert in the French real estate sector has stressed that the country’s property market can have an “extremely healthy mid to long-term future”.
Trevor Leggett, of Leggett Immobilier, explained that the best way to achieve this is to be cautious in the short term and adopt a “sensible view on pricing”.
He stressed that both agents and owners in the nation need to be “realistic with their expectations and valuations”.
Should this happen, Mr Leggett anticipates that the French property sector will remain one of the most attractive and healthy in Europe.
“In troubled times owners and investors seek ’safe havens’ and they simply don’t come more secure or enjoyable than France,” he added.
The perception of France as a brand outside the country appears to be particularly strong at present, with a recent FutureBrand survey placing it among the top nations in the world in this regard.
It performed particularly well in terms of its heritage and culture, while it was 13th in the list of countries people would most like to live in.
Anyone considering purchasing property in France should seek out legal advice from an independent professional with knowledge of the country’s market, it has been advised.
This is according to managing director at Leapfrog-properties Niclas Dowlatshahi, who stressed that the differences between French and British laws make this a prudent step.
“If possible, this should be a French notaire (an impartial notary), who is willing to take the time to explain things to you,” he stated.
Mr Dowlatshahi added that this is preferable to a UK-based solicitor, as a notaire will have a more in-depth knowledge of regulations regarding real estate transactions in France - and it is this kind of professional who will complete the deal on your behalf.
Recent changes to tax laws in the country relating to wealth and property ownership also need to be considered and understood, he pointed out.
Last month, Tim Harvey from Offshoreonline.org - specialists in European mortgages - highlighted the good availability of home loans for 85 per cent of the real estate asset’s value.
He added that it is easier to arrange a mortgage with a high loan-to-value in France than it is in the UK at present.
The value of luxury properties in the French Riviera fell in 2011, according to one estate agency specialising in the region.
EstateNetFrance revealed that the average price of real estate in the French Riviera and Monaco dropped by 5.06 per cent over the past 12 months, however, the rate of sales increased.
The agency recorded a 16.29 per cent jump in the number of transactions completed during 2011, with the firm noting the region is considered a “secure, long-term investment”, which has helped drive interest in property here.
On average, a luxury home in the French Riviera or Monaco now costs €2,117,349 (£1,754,580), with the majority of high-end real estate assets on the market in the €1 million to €3 million price range.
According to the most recent Global House Price Index published by Knight Frank, France is one of the European nations to see the value of its residential property rise in 2011.
In the firm’s latest table, the country saw real estate prices climb by 6.7 per cent between the third quarter of 2011 and the same period in 2010.
During the final three months of 2011, France recorded its highest commercial property transaction volume since the third quarter of 2007.
Figures released by CB Richard Ellis (CBRE) revealed that investment in French commercial real estate climbed by 65 per cent between the third and fourth quarters of last year.
In total, €6.5 billion (£5.4 billion) was transacted between October and December 2011, making it the second most popular market in Europe after the UK.
The CBRE report stated: “Investment activity in France was heavily biased towards the Paris office sector and included large portfolio and single-asset deals.”
According to the Savills European Office Markets bulletin released in autumn last year, yields for Parisian offices stood at just over five per cent in the third quarter of 2011.
The organisation noted that both demand and rents were on an upward trend at this time, while the supply of such real estate assets in the French capital was falling.
Head of Europe, the Middle East and Africa capital markets at CBRE Jonathan Hull stated that data from the final quarter indicates France, along with the UK, Germany and the Nordic nations, “are key to core strategies” among investors.
There has been a significant increase in the number of properties being put on the market in the French Riviera in the first month of this year.
EstateNetFrance revealed nearly 16 per cent more homes were for sale in January, compared to December.
This also represents a 12 per cent rise in comparison to the same month in 2010.
According to the organisation, many sellers were waiting until the new tax regulations relating to property in France came into force at the start of January to put their houses up for sale.
In addition, assets that had previously been taken off the market have been listed again, increasing the pool of available real estate.
The company pointed out it is a “buyer’s market” in France, even in the luxury sector on the French Riviera, where the average price of a high-end home has fallen below €2 million (£1.7 million) for the first time.
Last month, EstateNetFrance asserted buyers still view property on the French Riviera as “a secure, long-term investment”, which is why there was substantial growth in the number of real estate transactions recorded in the area during 2011.