If The Number Of Tourists Fall, So Will The Number Of Overseas Property Buyers

Category: Finance, Real Estate.

A second leading international estate agency has backed predictions made by a Malta property company that Malta could see steep price rises in the year ahead.

While Malta could see a rise of 15 per cent, other countries on the list are Croatia, Estonia, Cyprus, Poland, the Slovak Republic, Romania and Turkey. Revealing their thoughts about European property for 2007, Knight Frank have placed Malta among a list of 7 European countries anticipated to see property inflation of ten per cent and more. Commenting on the report, the Malta property company say they are not surprised at Knight Frank s price rise forecast. Some estate agents on the island have doubted that the arrival of new low cost flights to Malta would have much of an impact on the island s property prices as there is an oversupply of houses. There is a possibility that quite a few more international buyers will consider Malta as low cost flights make a three or four day trip and long weekends to their holiday home a real possibility. Unfortunately some island estate agencies are a little insular in their thinking, and find it difficult to see the bigger picture. You only need to look at how property prices have increased elsewhere in Europe where the low cost carriers are flying to to understand that there is a reasonable chance of Malta being part of that trend . Turkey has also seen quite a few buyers as the prices are normally lower, and there is still some countries in Europe who might oppose Turkey joining the EU, which often is a catalyst to property investment.

Commenting on the seven countries anticipated to see double digit property inflation in the next year, the company include Malta as one of three destinations regarded as mainstream by the UK property buying public, the largest of the island s property industry overseas markets. We often speak to UK buyers who have whittled down their choice to Malta and Cyprus, and both islands have seen inward investment from property buyers for some time now. Croatia, Estonia, Poland, Romania and the Slovak Republic are fairly new to the game, where prices are considerably cheaper. Flights To Malta. Of the seven we regard Malta and Cyprus as having the most sustainable property prices medium and long term . Malta has received praise recently from a US travel writer, who placed the island in her top five safest travel detsinations. The report also praises New Zealand, Monaco and Singapore, Switzerland as safe destinations.

In her report Laura McKenzie says of the Mediterranean holiday island In Malta there is no such thing as a dark and uninviting alley, while the police force is one of the oldest in the world . The news of low cost flights to the island is welcome after a travel report earlier in the year forecast Malta as being a more expensive destination than her Spanish island rivals for tourists. When people visit Malta for the first time, comment the Malta property company, it s not normally to buy a property, it s for a holiday. If the number of tourists fall, so will the number of overseas property buyers. But a good few like the island so much they want to move to Malta full time or buy a holiday home. The low cost flights could reverse a decline in tourisnm next year, and that will be welcome news for the Malta property industry . Studio apartments are already at over US$ 1, 000, but Monaco property, 000 prices could still rise steeply in the next couple of years, and Europe s favourite tax haven could be out of reach for some millionaires according to a local travel guide.

Another area where Tribune see a rise in property prices is the tax haven of Monaco. Different recent surveys have all been good indicators for Monaco, showing more people likely to apply for residency and buy property in Monaco. One survey says that the number of millionaires in the UK will increase four fold in the coming years, and the UK has become a very important market for Monaco real estate recently and will boost prices as the demand feeds through. Buyers from the UK in particular are expected to rise in number. Another survey coming out of the UK predicts that house prices will rise by 70 per cent over the same period. A CBRE report on world property also noted that Monaco real estate prices match those of London and New York s Manhattan.

Inheritance tax in the UK is a big issue as many more people are above the government threshold due to their house price, and in Monaco there is no inheritance tax, which gives an added incentive for some to move to a tax haven.

Highland Park By The Numbers

Category: Finance, Real Estate.

Highland Park, is the epitome, simply put of residential, luxury living.

Set high atop elevated land, with a gorgeous view of the city, Highland Park has become a nationally renowned city of wealth and affluence. This upscale community provides its residents with a respite from the hustle and bustle of the city, yet is just a few miles north of downtown Dallas. Real estate in this area does come at a hefty price, for good reason. Perhaps the easy, ten- minute drive to the city is what keeps Highland Park real estate in such high demand. As one- half of the Park Cities area of Dallas( the other being University Park) , this affluent community boasts picturesque surroundings, an excellent school system, meticulously kept parks and of course, a prime location for convenient commuting to the Dallas/ Fort Worth metropolitan area. Or perhaps it s the stunning homes that are found here.

Condominiums and townhomes can range in price from the mid$ 200, 000s to$ 1 million, while single family homes can start in the high$ 600, 000s. This area offers a wide array of real estate, from condominiums and townhomes to palatial estate properties and newly built luxury homes. Estate properties and new, luxury homes typically start in the mid- $800, 000s and can easily exceed$ 12 million. Highland Park by the Numbers. One thing s for sure when it comes to real estate in Highland Park- it s red hot and doesn t look like it s going to cool off any time soon. Approximately 9, 000 residents call Highland Park home.

As of the 2000 census, Highland Park had a median household income of$ 149, 389 and a median family income of$ 200, 00A home in Highland Park will cost you about$ 370 per square foot, which is a jump of 10 percent from just a year ago. This area was ranked# 60 by Worth Magazine s list of the 250 richest towns in Texas in 200Highland Park is the 41st wealthiest city in the United States and the 19th wealthiest city with a population of over 1, 00Highland Park is also the 4th wealthiest area in Texas, by per capita income. Highland Park s Picturesque Surroundings. In fact, Highland Park got its name because the original plans for the community detailed that 20 percent of the land would be reserved for parks. The Park Cities area boasts more than 25 parks. Lakeside Park is a particularly splendid site, with 14 acres of lush surroundings and thoughtfully landscaped grounds.

Highland Park Village, also known as" America s First Shopping Center, " indulges its residents with over 80 shops, offices and a, restaurants movie theater. Highland Park offers its residents some of the most picturesque parks in the country, as well as recreation centers and hiking, biking and horseback riding trails. Highland Park is located in central Dallas County, at State Highway 289 and U. Route 7Located just four miles north of downtown Dallas, this town is bordered on the south, east and west by Dallas and on the north by University Park.

That Person Often Winds Up Being The Realtor

Category: Finance, Real Estate.

It is only in recent decades that realtors have started to routinely represent buyers as well as sellers.

Due to the current state of the real estate market, with home prices falling after reaching all- time highs, some realtors are finding themselves in the unenviable position of being blamed by former clients for encouraging the purchase of properties that in retrospect, seem overpriced. Consequently, it is only in recent decades that realtors have had significant financial incentive to encourage their clients to buy homes and to buy homes at a premium price. Some realtors face clients'scorn, others face legal action. When a client purchases a home and it winds up falling in value, or when they purchase a home only to find out that similar properties sold at the same time for less, it is natural for he or she to look for someone to blame. The question is, can a realtor be blamed when a client purchases a home that is overpriced? That person often winds up being the realtor.

When a realtor is representing a seller he strives to get a selling price that is as high as possible in order to please the client, to achieve a high sales rate and, to increase his, naturally own commission. In some ways, this is natural. But ultimately the drive to achieve a high selling price is going to be kept in check by the fact that it is better to sell a property for a decent price than to not sell it for a high price. When a realtor is representing a buyer, there is no, however analogous system in check. A property that is priced too high simply might not sell and a realtor has incentive to encourage a client to compromise on sale price during negotiations if it means selling versus not selling. Obviously the maximum amount a buyer is willing to pay will act as a ceiling when it comes to purchase price, a realtor has, but besides that plenty of opportunity to encourage a buyer to pay as much as they are able. This might seem like a hypothetical problem that would not come into play in the real world of buying and selling homes, and for a long while it was.

The more money they pay, the more money he stands to earn. But in the past several years, with frenzied real estate markets driving home prices to all time highs and many people seeing real estate investment as a sure thing, the situation has become all to real. The answer is that it probably depends on the specific actions taken by the realtor. The question to be answered is, is a realtor ever responsible for a choice that is ultimately made by someone else? Did he knowingly fail to share with the client information about the selling price of other, similar homes? In this case, it seems clear that the realtor is guilty of wrong- doing.

Did he purposefully conceal the fact that homes with similar, amenities might have, or even greater sold for significantly less? What if he encouraged a client to bid an amount that he knew was too high? The definition of" too high" is unclear, and it can be argued that buyer placed any bids of his own free will. In this case, the issue of wrong- doing seems less clear. What about the case of a realtor who simply got caught up in the hype and encouraged a bid that was, inflated, in retrospect. The answers to these questions are as of yet unclear- the first law suits by clients against realtors are just coming to court- but every realtor would do well to consider these issues as they move forward in their careers.

This behavior might be unprofessional, but is it criminal?

Andorra Property

Category: Finance, Real Estate.

Apartments and chalet prices in Andorra, second only to Monaco in popularity among Europe's tax havens, have risen consistently over the last decade by an average of ten per cent a year, and in the last two years by over fifteen per cent. A lot of tourists, some of whom end up buying a property in Andorra, delayed their visit or went elsewhere. ' Andorra has unusually high demand for property as there are three streams of buyers: An active local market, international buyers looking for residency in a tax haven that offers residents a zero rated tax rate, and second home buyers looking for a ski property in the Pyrenees.

But a lack of snow and tourists in December and January has stopped the rise in its tracks, according to Andorra property companies. 'We normally seen an influx of buyers from the first week of December through to mid April who want to buy ski apartments, but it has been very slow this year, ' they comment, adding' It's been an unusual ski season as there was next to no snow between December and mid January. And it is the second home buyers, mainly for ski properties, that has seen the Andorra property market stopped in its tracks- for six weeks at least. Andorra Property. One of the highest rises in recent years was the 19 per cent increase in property values in 2005, with the 2006 increase expected to be not far behind at around 15 per cent. As well as being a top ski destination, Andorra is also a tax haven, with many people moving to the country to benefit from her income tax free status. To obtain residency in Andorra, applications need to be submitted in Catalan. Buying a property in Andorra is often seen as a route to residency, which entitles people to live in Andorra and benefit from her tax haven status.

A notarised copy of the applicants passport, birth certificate and a certificate of good conduct from the home country are submitted at the same time. Once residency is granted, residents are supposed to spend six months a year in Andorra, but this isn' t policed. According to a local travel guide residency normally takes between three and six months to be approved. One of the drawbacks for those looking to become a resident in a tax haven when considering Andorra has been that the country has no airport of its own, and is unlikely to have ine future given that it is located in the Pyrenees. Recent improvements in the road from Barcelona to Andorra though have cut the travelling time by some thirty minutes to two hours fifteen minutes. 'Given the tax advantages Andorra has' , note the Andorra guide, 'A two and a quarter hour trip to the nearest international airport could be viewed as a small price to pay for those who will be saving substantial amounts of money in tax. The nearest airports are Barcelona and Toulouse.

Especially when you consider that their properties could be rising in value quite significantly in the years to come. '

Their Job Is To Find You That Next Great House

Category: Finance, Real Estate.

A lot of times when home buyers decide to buy that next property instinctively they call their real estate agents to find them new homes that fit their current criteria and needs. Their job is to find you that next great house.

This is a great first step because this is what real estate agents do. Sometimes however agents stay on the course and present properties that are easy for them to find and easy for them to work with. It's a good idea to do some house hunting yourself. However there could be that perfect house out there that gets missed because it's not in the system for lack of a better term. Your agent generally won' t be offended if you bring some properties to the table that you want to check out. It is very possible somebody knows somebody that has or is about to list their house on the market. Listed here are 5 great alternatives to finding that hidden perfect house. 1) Word of Mouth: Telling everyone you know that you are in the market for a new home might give you an advantage in the market.

Getting that chance to be the first one to look at a property can be invaluable. 2) Real Estate Magazines and Newspapers: These publications usually list new developments and homes being sold. The Internet provides instant and updated information about the location, and home features, price for any house in any community. This kind of information in the very least gives you an idea of how much properties are going for. 3) The Internet: Using a site such as MLS. ca to find properties has become the most common way to check out new property listings. The great thing about the Internet is you can narrow your search down instantly for properties you are interested in looking at. 4) For Sale Signs: Take a drive through the neighborhood of your new community. Two: you might find that Gem that is being sold by the owner, usually these houses aren' t as exposed as properties listed by real estate agents. 5) New Development Areas: If a new home interests you, check out the new development areas in your area. One: you will be able to compare what you have seen on the Internet or in the paper to what you see in real life. Usually builders will have a model home that shows what a typical house in that area looks like.

These are some great areas to explore along with your agent when buying that next house. Builders also give new homebuyers options and extras that they can incorporate into their new home if they build from scratch. Remember using a real estate agent only gives you only 1 option to find that next home.