Property In The United Arab Emirates

• Property In The United Arab Emirates
• Investment Property In The United Arab Emirates
• Dubai Property

Investment Property In The United Arab Emirates

Investment property in the UAE offers overseas buyers enormous potential, in view of the huge demand for affordable, quality real estate throughout the Emirates.

The UAE offers multi-faceted investment advantages, including a tax-free international environment and one the world’s fastest growing tourism economies.

Following on from Dubai’s phenomenal success, the other Arab emirates are now following suit, each with their own economic attributes but similar tax-free investment advantages to Dubai. For now, lower prices, a strong infrastructure and overwhelming demand for commercial and residential properties are driving the success of the real estate markets in other emirates such as Abu Dhabi, Sharjah, Umm al-Qaiwain and Fujairah.

Why Invest in United Arab Emirates?

To a large extent, the UAE is now addressing the ongoing shortage of quality, affordable real estate in Dubai, by focusing on the equally attractive benefits of the other United Arab Emirates.

• Year-round sunshine, with average summer temperatures ranging from 24°C in winter to 40°C in summer
• Luxury facilities, great weather and easy access - the UAE now accounts for 0.5% of total tourist demand worldwide
• Awe-inspiring architectural wonders are under construction, following on in the vein of Dubai only a decade ago. Top quality finishes are consistent with the high international standards of amenities and recreational facilities in the UAE
• Property price returns of up to 20-40% per annum (depending upon emirate)
• Average rental yields of a stable 6%. These figures are set to soar in many of the emirates, driven by dramatically increasing land costs
• A thriving economy and a booming tourist industry, attracting much international investment. Already 75% of the population in the UAE is composed of expatriates
• Ever increasing numbers of expatriate workers come to the UAE to work in new industries, maintaining a strong future demand for quality property on which to spend their tax-free earnings
• A tax-free investment environment in the UAE means no income/capital gains tax or tax on rental income
• The supply and demand ratio is well managed to ensure strong growth and returns
• The UAE is an increasingly liberal and cosmopolitan global business centre with luxurious facilities
• Outstanding natural features await visitors, including sandy beaches, rocky mountains, waterfalls and oases
• An world-class infrastructure is constantly being upgraded to keep up with the UAE’s fast growing population

Land for Development/Project Sourcing

The International Property Investment Network (IPIN) and propertyshowrooms.com offer members a comprehensive source of information regarding the newest land investment deals available in the UAE. IPIN endeavours to find you the very best investment opportunities in the UAE before they become common knowledge.
Members will be offered valuable assistance and contacts in the setting up of joint ventures within our network of carefully vetted developers or partners. Due to a recent increase in worldwide property investment, IPIN and propertyshowrooms.com constantly make contact with large-scale individual investors and investment consortiums who are on the lookout for the best land investment options in the UAE.

Summary

UAE property offers potentially lucrative investment opportunities in prime locations of the developing emirates. As a highly industrialised federation, the UAE has one of the most advanced global economies and this is reflected in its GDP per capita, ranking 5th in the world and 3rd in the Middle East, after Qatar and Kuwait. Today’s investors in the UAE expect to witness rapid and substantial price increases as property demand and construction costs in the UAE continue to spiral upwards.

Propertyshowrooms

Dubai Property

Dubai property offers overseas buyers some truly exciting options. Prices are still very affordable and a fast growing property market is currently underway offering purchasers many strong investment opportunities.

Property is so much part of Dubai's infamous growth that real estate investment here allows buyers a spectacular chance to cash in on high growth of an average 18% per annum (over the past five years) and typical rental returns of up to 12%.

Dubai property attracts shrewd land and property investors who seek to purchase from the very start and reap high, tax-free rewards from both commercial and residential properties. Since 2006, freehold ownership rights have been formally given to foreigners and demand is exceedingly high for commercial and residential property to accommodate the large influx of multinationals and expatriates to the Emirate. Developers cannot currently build enough to keep up with demand and while this situation continues, the property market in Dubai remains buoyant, offering homebuyers and investors outstanding growth potential.

The lavish Dubai International Airport in itself is an architectural sight to be seen and reflects the great innovation Dubai offers at every corner. The airport is currently under expansion to cater for Dubai's projected surge in tourism and this is expected to further boost Dubai, alongside its growing international corporate activity and property markets. As the fastest sector of the economy, tourism is targeted at 15 million visitors per year by 2010 and, with projects such as the 20 billion dollar Dubailand now well underway, an even healthier rental and holiday home market is anticipated for the near future. Large commercial zones, including Dubai Media City, Dubai Pearl and Dubai International Financial Centre are also attracting expatriates in their droves, all creating a huge resulting demand for luxury apartments and villas for sale and rent.


Dubai's economy is strong and growing beyond all expectations, while the construction and real estate businesses account for almost one quarter of its GDP. We are confident that Dubai will grow from strength to strength as a popular property investment location.


Sheikh Mohammed relies heavily on the continuing entry of multinationals to Dubai and the scale of some of the new construction projects makes them entirely dependent upon foreign business investment, there simply not being enough local firms to justify the ambitious structures being built.

The sheer wonders and luxury of Dubai hold an irresistible lure for many seeking shimmering towers and state of the art modern living, all within a tax-free environment. A warm climate and countless leisure activities make Dubai an ideal place in which to holiday, invest or live.

Propertyshowrooms

Property In The United Arab Emirates

Property in the UAE offers the opportunity to profit from a still growing property market and tax-free incentives, making it the major overseas property investment destination it is today. 

Over recent years, property in Dubai has stolen the limelight in terms of real estate success, having reformed its foreign ownership regulations to attract a multitude of investors. While this continues to be the case, other emirates such as Abu Dhabi, Sharjah, Umm al-Qaiwain and Fujairah are growing in importance, having followed suit to absorb the overflowing demand from Dubai. While prices remain comparatively low and economic prospects are high, these emirates are attracting a steady flow of fresh investment.

With a population topping 4.6 million and high per capita income, the UAE economy is growing fast (7.4% in 2007), resulting in extremely strong capital growth and high rental yields for the real estate market. The UAE attracts a large number of affluent expatriates and foreign workers who wish to take advantage of its comparatively low cost of living and tax-free business and residency incentives. Today this group alone makes up more than 75% of the population.

In addition to a booming oil based economy, the UAE’s commercial and financial environments are hugely successful. Not to be forgotten is the fact that the UAE is one of the world’s fastest growing tourist destinations: luxury, state-of-the art holiday resorts and facilities are being built across the emirates to complement natural attributes of sun, sea and sand in abundance, giving the UAE all-round appeal as a truly multi-faceted destination.


Diligent investors and homebuyers will be enjoying strong returns from their early purchases in the UAE. We are delighted to be able to offer you carefully vetted property at today’s unbeatable prices.

The standard of living in the UAE is high, largely due to the wealth created by oil and gas. The emirates now complement oil price fluctuations with valuable revenue form regional trading and tourism. Billions of dollars have been pumped into showpiece development projects to create skyscrapers and other edifices of overwhelming proportions, now making the construction industry the third largest sector of the economy, after oil and trade.
Lavish projects continue to attract tourists seeking sheer luxury, along with the fantastic tax-free shopping. Ease of access via six international airports helps render the UAE a worldwide attraction, while a relaxed, quality lifestyle and a warm climate entice investors, expatriates and holidaymakers alike.

Propertyshowrooms

Buying Spanish Property

A few word of advice

Buying a property in Spain can be a very enriching affair, both financially and in terms of enhancing your happiness and quality of life. However this will only be the case if you get the purchase right. If you get the purchase wrong you run the risk of losing a substantial amount of money, either through capital loses or extra costs, and you could end up with a property in Spain that is nothing but a burden to you. So if you only visit this website once never to return at the very least bear in mind the following points.

• Always do your own research before you buy property in Spain. This means finding out how the conveyancing process works in Spain, and identifying the main risks. It also means researching market prices for a fair idea of property prices to guide you in your decision. Buyers who fail to research the market are likely to overpay for property and take unnecessary risks.
• The dream of owning property in Spain needs to be balanced by practical considerations, so be honest with yourself when deciding what kind of property you need. Wishful thinking alone will lead to poor decisions.
• Approach the purchase in a structured and organised way, and keep your wits about you at all times. Pursuing the dream of owning a property in Spain is no excuse for rash, risky decisions that you wouldn’t take at home.
• Always start by creating a clear, written brief of your property requirements to guide you search.
• Make hiring an independent, competent Spanish lawyer one of your first tasks. It is essential to avoid lawyers with conflicts of interest so never ask anyone involved in selling you property to recommend you a lawyer, and never use the in-house lawyer of an estate agent or developer.
• Try to deal with reputable companies. Investigate companies before dealing with them.
• Never sign a contract or pay a deposit before carrying out an appropriate due diligence and getting the all clear from your lawyer. Due diligence varies according to circumstances, but in general never buy a resale property unless it is accurately described in notarised title deeds and is free of debts and encumbrances. When buying off-plan always make sure that a building licence has been granted by the town hall, that your stage payments are guaranteed, and that the contract you sign is watertight. Never sign deeds for an off-plan property until the first occupancy licence (licencia de primera ocupación) has been granted.
• Retain a healthy sense of scepticism about the claims people make whilst trying to sell you property. This is especially true of the claims being made about off-plan investments. Never invest in off-plan property unless you have the funds to cope with a worst-case scenario.
• Never allow yourself to be pressurised into a decision.
• Always make sure your financial position is clear before paying a deposit. Failure to do so could result in you loosing your deposit.
• Make sure you understand your fiscal obligations once you have purchased property in Spain. Property taxes in Spain are low but if you fail to pay them there is a risk that your property will be confiscated and sold off to pay them. 

There are many ways to search for properties to buy in Spain: estate agents, property magazines and ''home hunters". In more popular or urban areas estate agents offer an English-speaking service.
The whole process of buying any type of property or land in Spain is strictly regulated.
This section aims to give an overview of the processes involved in buying a property, but it cannot deal with every circumstance. Therefore professional advice should be sought with regard to personal situations.







Finding the Property

There are many ways to search for properties to buy in Spain: estate agents, property magazines and ''home hunters". In more popular or urban areas estate agents offer an English-speaking service.
It's important to carefully consider the location and type of property, depending on whether it will be a  main residence, second home, holiday home to be let out on occasion or a property to be let as an investment for the future.
Make a list of the important elements - the purchase price, the overall size and number of rooms, whether a sotanos (cellar), garage, garden, terrace or balcony is essential - as it will keep the estate agent or home hunter on the right track to finding the ideal property.
The type of property and it's condition is also an important consideration. There are certain types of properties that will not be acceptable for mortgage finance. The property should be classed as "habitable" meaning structurally sound and having the basic utilities of electricity, mains water and sewerage system, all conforming to the current regulations.
All properties that are registered on Registro de la Propiedad (Land Registry) can be mortgaged.

Buy Property to Build or Let

Buying to renovate a property or build a new property demands careful pre-planning. Certain Spanish building regulations are very different from other countries and permission has to be granted from the local Ayuntamento (Town Hall). These vary within municipalities and within each there may be different zones that have different regulations regarding the minimum amount of land on which a home can be built.
Detailed applications as well as other documents which state what developments are allowed to a property and its land, must be submitted to the town hall (certificate of town planning/urban development). These permits may have been obtained by the agent or the constructor before signing; ensure these have been obtained.
The advice of an expert - an architect or surveyor - is also required for renovations and new builds. If relying on mortgage finance for renovation works, then the works will have to be completed by tradesmen who are registered in Spain. Registered tradesmen have required insurance covering their work - it is an essential guarantee for the bank or lender.

Buying property to let

Be aware when buying property to let that if it will be rented out more than once per year as holiday accommodation, it may have to be registered with the local Consejeria de Turismo de la Comunidad Autonoma (tourism board). More information specific to local requirements is available from the tourism board.

Financing a Property Purchase

The whole process of buying any type of property or land in Spain is strictly regulated.
There are three main options available to pay for a property:

1. Buy for cash - a straightforward option, but once capital has been invested in a Spanish property it can be difficult to release equity although not impossible in some circumstances.
2. Re-mortgage a main home to raise the cash - again, a straight forward option and one that doesn't involve Spanish banks. However interest rates charged by banks and building societies in other countries may be higher than interest rates in Spain.
3. Finance the property with a mortgage from a Spanish bank or mortgage provider.

The Initial Costs

Whether buying for cash or with a mortgage there are some costs to be funded directly by the buyer:

• The Deposit: agreement to the purchase. On the day of signing the opción de compra (the sales agreement contract) the buyer is required to pay the deposit, usually between five and ten percent of the purchase price for older properties. For new properties under construction the payment terms are made in stage payments as the construction is completed. These terms should be negotiated through the agent or directly with the constructor. It is advisable to pay the deposit cheque to the agent who is representing the buyer, and not to the vendor. The deposit is held by the agent until completion
• Purchase Costs: For all property and land, seven percent of the purchase price is paid as a property tax that goes to the Spanish Treasury. In addition, there are notary fees and a land/property registration fee, which varies according to the purchase price of the property
• Agency fees: Normal commission is five percent, which is included in the sale price

Mortgage Arrangements

Normally, based on their valuation on the property, Spanish banks will lend between 60 and 70 percent to non-residents and more to residents. They send a valuer to assess the value of the property; the cost of this is included in the charges made by the bank for the mortgage application, which varies according to the purchase price of the property. Banks vary in their charges and this can often be negotiated. Once the mortgage has been applied for, funds will be needed to cover the cost of bank charges.

The essential elements for qualifying for a mortgage

1. Sufficient income to service your mortgage
2. Compulsory life insurance to cover the terms of the mortgage

Working out a price range

If a mortgage is needed to buy a property, establish a price range and determine if enough cash funds for the deposit and legal fees are available and if income is sufficient to afford the monthly cost of the mortgage.
It is strongly advised to seek professional advice about the basic lending criteria and the various options and mortgage products available. There are several options:

• Go directly to the Spanish banks and mortgage providers. Banks and mortgage providers have their own lending criteria - how much they will lend, the term of the mortgage, what mortgage products they offer and how much they will charge for their arrangement fees
• Use the services of an established mortgage broker, who will provide advice about how much can feasibly be borrowed and the mortgage products which will best suit the circumstances. A mortgage broker may save some time and will know which lenders to approach on the buyer's behalf and will provide quotations from the most suitable lenders. Throughout the mortgage procedure the mortgage broker will liaise between buyer and lender, which can be very useful if the buyer's foreign language skills are not that good. Mortgage brokers who are registered in Spain receive their commission directly from the lender and generally do not charge a fee - but it's advisable to check, as this is not always the case.
• The Inmobilario (estate agent) may offer a mortgage service and usually will offer a service similar to that of a mortgage broker

Banks will ask for pay slips of employed applicants or one or two years accounts if the applicant is self-employed. Tax declarations from the buyer's country of tax residence will be required.

Purchasing a Property in Spain

Once a property is found that is suitable and the vendor has accepted the offer, a sales contract must be completed (opción de compra).

Opción de compra

The seller (vendor) or agent can draft the opción de compra, which is be written in Spanish, but will usually have an English translation. The name(s) on the mortgage (if applicable) must also be the name(s) on the opción de compra. The opción de compra is a legal contract, therefore it is highly recommended to consult a notary before signing. The notary should confirm (at a minimum) that the following information is provided:

• Details and identities of the vendor and purchaser
• A full description of the property
• The surface area of the property and land
• The purchase price, the breakdown of fees and who will pay each fee
• Details of the sales agent
• Details of any fixtures and fittings included in the sale
• Details of the mortgage, the date of when the mortgage offer should be available and the date of completion
• Any let out clauses (conditions/cláusulas crio) and the penalties that will be incurred by the purchaser or the vendor if completion doesn't take place

Let out clauses

For the purchaser, the clause crio protects the deposit given to the agent as part of the agreement to purchase the property.

• The most usual is a clause stating that the purchaser's agreement to purchase is subject to obtaining mortgage finance
• Other clauses can be included, such as the vendor having to carry out necessary repairs or that the sale is subject to the dimensions of the property corresponding to what is detailed in the opción de compra (expert legal advice is useful in the negotiation of these clauses)

On the day of signing the opción de compra the purchaser will be required to pay the deposit to the agent.

Completion Day

After the mortgage has been approved arrangements can be made for completion of the sale. It is the buyer's responsibility to instruct the notary to request the mortgage funds from the lender.
Once the completion date is determined, the buyer will need to make sure their Spanish bank account is open and funds are transferred into it in time for the completion date. Arrangements for building insurance will also need to be arranged as the buyer will need to provide details of the insurance policy.
If the buyer is unable to attend the signing of the Escritura (final deed of sale) power of attorney (a poder) may be given to a trusted person or friend, which authorises them to act on the buyer's behalf.
The Escritura is signed by the buyer, the vendor and one notary.
Once the Escritura has been signed and witnessed the buyer must pay all required taxes, land registry fees and the purchase price. A few months later they receive a certificate informing them that the title has been registered. The original title deed is returned to the notary and the deeds can be collected. The Notary may make authorised copies

The Professionals Involved with Purchase

A variety of professionals are required when purchasing property in Spain.

The Estate Agent and Property Searcher

Estate agents (agentes inmobiliarios) are usually local to an area and therefore will only have properties for sale within that area. The agent earns commission from the sale of the property and will try to obtain the best possible price for the property, but will know what price the vendor will accept. They should also be able to give the buyer an estimation of all the other fees and the property charges for which they will be responsible.
Property searchers, as their title implies, will search for a property that is within the client's price bracket and matches their requirements. Many offer a personal service, taking the potential purchaser to view the properties they have short-listed. Some charge a fee while others take a percentage commission from the Inmobilario instead.

The Notary

The notary is a public official and given the title of Notario. The notary is highly qualified in the Spanish legal system and is able to advise about the property transaction as well as family, succession and corporate laws. The state confers powers on the notary to legalise property purchase transactions that cannot be enforced by any other means. Notaries are Public Officials and provide legality to the contracts they supervise. They are liable for their professional actions. A notary is responsible for the conveyance, preparing the various documents and confirming the seller's title to the property, checking that there are no other mortgages on the property, etc. The notary is responsible for the legality of all documents that are signed before them in their personal capacity, which provides a guarantee for the client.
A buyer may choose their own notary.

Mortgage Brokers

A mortgage broker has a relationships with various Spanish banks and mortgage providers and understands how they react to certain cases and circumstances, and will act as the buyer's intermediary with the lender. Legislation ensures that mortgage brokers, or mortgage advisers, must have their own professional indemnity insurance and be registered with each bank and mortgage provider they represent.
Mortgage brokers receive their commission directly from the bank or lender with which they do business. Some of those who are registered in Spain will not charge they buyer fees for their services - it is suggested to verify this early on.

Architects and Surveyors

An architect or surveyor should be considered if purchasing an older property or one in need of renovation. They will have experience with planning and obtaining necessary permits and certificates, and be able to provide an estimate of the cost. They should also know of reputable registered builders who have their own insurance to cover their work, which is essential especially if taking out a mortgage for renovation or improvement works.

Property Taxes & Charges

There are two taxes on all residential property. These are collected by the State for the local authorities. These taxes are assessed at individual rates according to location and can vary substantially. Ask the estate agent for these details when looking at properties to buy.

Taxes IBI (Local Taxes)

Due on all property registered at the Land Registry except agricultural land. The owner of the property is liable for paying this tax. Even if a property is only used occasionally, if it is furnished and supplied with water and electricity this tax must be paid. The amount varies based on location and the value of the property.

Basura (Rubbish Collection)

Town Hall tax for the collection of rubbish.
Both the above are paid to a local government collection agency called SUMA, each town and village usually has a SUMA office.

Comunidad (Community Charges)

For those owning property such as an apartment within a complex there are maintenance and service charges to pay. Potential buyers should consider these charges before purchasing. Charges vary according to the size and quality of the complex, and the facilities such as lifts, swimming pool, gardens, tennis courts.

Spanish Succession Laws - the Law of Inheritance

Buyers are advised to draw up a Spanish will with a notary to cover assets in Spain. This becomes essential if the owner's situation is more complicated with previous marriages, particularly those involving children and step-children.

Capital Gains Tax and Wealth Tax

This is currently changing; consult a professional tax advisor.

Patrimonial Tax

The Patrimonial Tax is a yearly tax based on the rateable value of the property. It is paid once a year, in December.

angloinfo

Investment Property In Australia

Foreigners Are Keen to Invest in Australia

Australia has always been a favourite holiday and relocation destination due to its great quality of life and value for money and still today, carefully selected investment property in Australia offers great potential to overseas purchasers. With a well established and growing tourist industry in operation and increased economic activity in the major cities from foreign investors, many real estate investments are providing excellent opportunities.

Why Invest in Australia?

Despite misgivings by some investors due to increased interest rates and high property prices, the real estate market is in fact booming in certain parts of Australia. Today investors can take advantage of many economic and political advantages to property purchase in Australia, meanwhile enjoying the outstanding natural beauty, climate and lifestyle.

Natural and Cultural Factors

Sun-baked horizons, rugged mountains, unspoilt beaches and dense tropical rainforest make it a popular holiday and lifestyle option.

• Due to fantastic beaches and countryside, sporting activities such as diving and surfing are to be enjoyed as well as great opportunity for all types of ecotourism.
• Large cultural cities, such as Sydney, where opera and other musical events can be enjoyed, as well as world class cinema, theatre, art galleries, and much more.
• Temperate year-round climate, with an average of 3,000 hours of sunshine per year.
• Relaxed and healthy lifestyle in the sun
• English is the national language, greatly facilitating a move here
• Well served by six major international airports

Economic Factors

• High capital growth in areas such as Perth (36.6% to 42% per annum in 2006)
• Low cost commercial properties and a growing international business presence in major cities, due to good value for money and a foreign investor friendly environment.
• High demand for residential and commercial real estate to accommodate growing expatriate working community.
• Due to high interest rates and property prices, many Australians are increasingly seeking rental accommodation, making this a healthy growth area for investors.
• Currency exchange rates against the euro, dollar and sterling are favourable, making property purchase in Australia a valuable option.
• High growth rate, superior to that in most OECD countries, including the UK and the US.
• Wide range of mortgage options available to foreigners, including interest free loans for five to ten years.
• Huge tourism growth. According to the Australian Forecasting Committee, some 10,000 extra hotel rooms will be required in resort areas by 2014.
• Population growth and rising incomes ensure the demand for housing outpaces current supply, causing prices to rise.

Land for Development / Project Sourcing

Australian land purchase gives investors a prime opportunity to gain maximum returns on investment. Propertyshowrooms.com and IPIN (International Property Investment Network) work with a close network of developers, land owners and agents alike to establish a carefully vetted list of sources and contacts which allows us to find our clients the very best options available today. We can also assist you to set up joint venture opportunities in Australia and implement investment strategies with the help of our trusted network of professionals.
We maintain valuable contacts with many large-scale individual investors and investment consortiums who wish to take advantage of the current hot investment locations in Australia.

Summary

Not only is Australia an outstanding country in terms of lifestyle and climate, it offers many economical and political advantages to today’s overseas property investors. Australia offers profitable opportunities for city investment as well as property for sale in current property hotspots in coastal resorts such as those in Western Australia and North Queensland.
Intelligent investors are making the most of today´s real estate market in Australia, while opportunities still last, for land, buy-to-let and pure investment options. (Propertyshowrooms)

Property In Australia

Property in Australia offers great opportunity for investors and homebuyers alike.  Selected in the right location, property in Australia offers lucrative resale and rental options while taking advantage of a healthy tourist industry and a stable economy.

Property in Australia is wide ranging due to the sheer magnitude of the country. Homebuyers in Australia who are looking for a buoyant market in which to invest are looking at various areas where the local economy is growing and the job market is strong, bringing with it a healthy supply of tenants for rentals as well as home purchasers. Due to the relatively high price of property for the average Australian, purchasers looking for buy-to-let investments are finding a healthy market in which to employ this strategy.

Many property purchasers are focusing on areas such as the western coast and North Queensland where beautiful well priced properties can be still found where a sufficient infrastructure is in place and an idyllic living environment can be enjoyed.

  Newcastle    

Australian real estate offers a promising opportunity for international property investors and holiday home buyers alike. Australia has so much to offer visitors and boasts beautiful natural wonders, including superb beaches, warm weather and an outdoor culture, making it a favourite destination for many northern Europeans seeking a healthier and happier lifestyle.
Purchasers are investing in new properties as well as land deals, while prices are firmly on the increase in some areas, due to the progress of various areas and their supporting infrastructures. Our land options range from smaller plots for villa construction to land on which to develop large resorts.

Further information and resources

	Buyers Guide to Australia The property in Australia Buyers Guide will give anyone considering investing in property in Australia plenty of essential information, and facilitate a safe purchase.
	Mortgages in Australia Many buyers in Australia require finance for their property purchase. Here you will find details of how to structure your purchase using the finance options available.
	Currency Exchange in Australia When buying property in Australia, appropriate currency exchange transactions are vital to an efficient sale and they can save you thousands when buying your Australian property.
	Australia FAQs This section helps clarify many of the most common queries property purchasers have regarding buying real estate in Australia.
	Australia Property News This section keeps you up to date with latest news issues concerning property purchase in Australia, including information about new laws and property market trends.
	Australia Tax Information It is important to understand the tax liabilities involved in your purchase in Australia. This section will give you the information you need.

Australia Property Investment

Australia is an exciting market, well worth close inspection, not only as a place to live but as importantly as a viable investment option or a great holiday home location. With many flights to Australia and a vibrant tourist industry, Australia offers solid growth opportunities for property purchasers. (Propertyshowrooms)

 Sydney

Sydney average house prices rise

The latest research published by Savills shows that homes in Sydney have seen their values increase.

According to the firm, the average price of a dwelling in the New South Wales city in June rose by 1.6 per cent, with houses experiencing a boost of 3.4 per cent, compared to a year earlier.

However, the number of transactions taking place in the market over this period declined by 16.8 per cent for residential units as a whole and by 19 per cent for houses.

Savills noted that vacancy rates in the city remain very low at 1.5 per cent, citing the most recent data published by the Real Estate Institute of New South Wales.

As a result, investors have "enjoyed increased demand and consistent rentals", with the organisation anticipating that this scenario will continue "due to the continued disparity between the supply and demand of residential accommodation".

Eynas Brodie, editor of Australian Property Investor, recently stated that overseas investors are attracted to the nation's real estate sector for a number of reasons, including its education system, business opportunities and political stability. (Propertyshowrooms)

Real Estate in Brazil

Perhaps arriving at a destination at 2am only to be told the hotel is full has become a hassle not worth dealing with. Maybe it’s the daily grind of a job at home that sets sail to dreams of living overseas in a new and exciting culture. Such things seem to drive people to seek out property further south and enjoy a lifestyle many only dream is possible. Brazil real estate is flourishing. The area is quickly becoming a popular place for international real estate investors because of its warm climate, relaxed and intriguing culture, low prices and some of the best beaches in the world. Many people foreign to Brazil are snatching up prime Brazil real estate in choice locations all around the country.

In some of the world"s most desirable countries foreigners are not legally permitted to purchase land or houses. In Brazil, foreigners have the same legal foothold as Brazilians when it comes to Brazil real estate. Brazil has abundant land resources, the largest economy in Central and South America and a very large labor force. Brazil has almost anything any international investor might want from spectacular beach front property to acres of land inland for farming and ranching as well as andless things to do and see. The economy is on the upswing and is quite diversified.

Some real estate Brazil offers investors can be found in the larger cities. Although Rio de Janeiro and Sao Paulo have traditionally been favored in recent years, the trend has been to purchase northward along the coast. The bigger cities are not for the faint of heart as they are busy and can be dangerous to the unsuspecting person. Luxury apartments and villas can be purchased here, some for a very pretty penny. Real estate Brazil has made available to the savvy investor high-class penthouses, family homes, simple apartments and even commercial property for sale. Prices range immensely; depending on what type of Brazil real estate is being sought. It is also possible to purchase a piece of land and develop it as time and money allow.

Real estate in Brazil can be found all over the country in the bigger, flourishing cities, small fishing villages and remote, tropical towns. Bahia is currently one of the hottest places for real estate in Brazil. Encompassing the longest coastline of any Brazilian state, its capital city of Salvador is a popular tourist destination for both international and local visitors. Other popular areas include the states of Sergipe, Rio Grande de Norte and Ceara. The cities in these states that are drawing property seekers and visitors are Aracaju, Natal and Fortaleza. In Fortaleza alone you can easily spend weeks looking at the different oceanfront homes, beachfront homes, countryside hotels, farms, ranches and other investment real estate. When looking for property in Brazil do keep in mind that the Brazilian government is encouraging foreign investment and welcomes foreigners with open arms. Many popular tourist destinations around the world have sky-high prices and massive crowds and not much chance for a profitable return on real estate. The lower prices, less frantic atmosphere and higher investment returns of alternative resort countries such as Brazil see international buyers starting to take advantage of all the possibilities available. (destination360)

Economic Factors In Brazil

It is important to examine the economic reasons why Brazil offers investors such a promising future. Below are some of the key factors you should be aware of during your investment research.

Capital Growth

Brazil is classed as a new emerging property market, which puts potential growth figures at their highest at present. Over the past five years, Brazil property has seen prices increase of some 20%. In fact last year, in some areas of north east Brazil, returns of 20%+ last year were not uncommon.
Now is the perfect time to research an investment property in Brazil. Property prices are low and look set to rise as the Brazilian property market and supporting infrastructure continue to mature at a very steady pace. Expert researchers for the UK-based Property Investor and Homebuyer Show reinforce this view and are tipping Brazil as an emerging country poised on the verge of a property boom.

Low Cost of Living

The cost of living in many areas of Brazil is much lower than in most European destinations and currently stands at 20% of that in the UK. As a result, the cost of maintaining and managing your property is low. It is small wonder that Brazil is also increasingly popular as an expatriate retirement haven.

Booming Property Market

Property in Brazil currently sits on the brink of a boom period while investment growth is inevitable in Brazil, especially in locations by the sea and in north east Brazil.
Many areas are being transformed into top-class resorts with supporting infrastructures to boost the tourist industry. Brazil’s tourism success is creating a huge demand for accommodation and shrewd property investors are acting early, purchasing bargain properties with a view to generating good rental yields. Meanwhile the market is gaining momentum and property prices are steadily pushing upwards.

Currency Exchange

Currency exchange rates are very favourable in Brazil today, making property investment a viable and attractive option to foreign investors who avoid losing vast amounts of money in their exchange transactions against the Brazilian Real.
Brazilian currency has recently stabilised and become far more competitive with other international currencies, such as the US dollar. This has of course increased purchasing power for overseas investors in Brazil. The competitiveness of currency exchange also means that international businesses from the US and UK are establishing themselves in Brazil and are able to operate with far lower overheads, therefore creating increased productivity and profits.

Inflation

In the year of his election in 2003, President Lula decreased inflation to 16% while today inflation stands at an all-time low of around 5.7%, firmly indicating a safe and secure economy in which to invest.
Brazil’s economic expansion and low inflation levels could well result in central bankers in Brazil dramatically cutting their lending rates. This, in turn, would result in much local property market activity, with a reduced cost of borrowing making loans affordable for Brazilian citizens.

Economic Expansion

The increase in profitability of certain major Brazilian companies (eg. Unibanco, Brazil’s private sector bank and Eletropaulo, power distributors) as well as the successful expansion of international companies in Brazil (eg. Arclor and InBev, the world’s largest beer producer) further boost the economic prospects of the country, bringing with them a positive effect on real estate investments.
Furthermore, Spanish and Portuguese developers as well as major hotel and resort groups have now arrived in Brazil and are currently investing millions of Euros on tourist developments aimed at the European market. According to experts, Brazil is expected to be self-sufficient in oil reserves within the next year and it is believed by some economists to be amongst the worldwide leaders of the future, along with Russia, India and China.

Housing Shortage

As Brazil still suffers a severe lack of housing, investors looking for development opportunities should consider property construction projects in Brazil. Exciting opportunities are now on offer for investment within this rapidly developing property market.
(Propertyshowrooms)

Housing prices and rental rates in Central London have broken a record

In July 2011 the average price of luxury residential property in the Central London was 9,6% higher than in the similar period of last year. Prices in the rest of the country have decreased in July.

According to Knight Frank company, luxury homes in London increased in price by 0,7%  last month. Also housing rental rates rose by 0,3% and  hit the record.  Nowadays luxury property rent in the Central London is 1% higher than in March 2008, when the latest prices’ peak was recorded.

The largest growth for the six months was recorded in Chelsea (7,7%) and in Mayfair ( 7,2%). But the most significant rise was in Belgavia, where rental rates have increased by 1,8% for the last three months.  

According to Noel Flint, the representative of the Knight Frank Company, high-end property market in the Central London shows such behavior due to foreign buyers and supply deficit.

As Prian.ru reported, analysts of Douglas & Gordon suggest investors to pay attention to other areas of London, f.e. to southwest.  In Q2 0f 2011 property rent increased there by 6,9%, while housing prices grew by 1.7%.

Prian.eu

Overseas property buyers on currency watch

Property investors buying second homes overseas are being forced to factor in exchange rate risk when deciding how to finance a purchase, as the sovereign debt crisis continues to cause volatility in currency markets.

Figures from World First, the currency broker, show Britons have not been put off buying property in the popular destinations of France, Spain and Italy in recent months, in spite of the unstable euro exchange rate.


It found property-related transfers in Spain by Britons were up 68 per cent in July from a year earlier, and up 20 per cent and 34 per cent in France and Italy, respectively, over the past three months. However, the number of Britons buying abroad remains significantly down compared to the peak in 2007.

Since then, sterling has undergone a significant depreciation against the currencies in a number of traditional second-home destinations. In 2007, Britons could get €1.5 to the pound and 2.4 Swiss francs. This has now fallen to 1.14 and 1.37, making the purchase of an overseas property in these locations much more expensive.

So, with the cost of buying a holiday home in Europe now considerably more expensive than before the downturn, many cash-rich buyers are opting to take out a euro-denominated mortgage, to reduce the sterling cost of purchasing a property abroad.

In the past, it was common for UK-based buyers of overseas property to raise money against their UK property and use the sterling funds to purchase abroad, but experts say this has become increasingly unattractive due to the exchange rate.

A growing number of wealthy buyers are therefore deciding to take out an euro mortgage until the exchange rate improves, at which point they can make additional payments in sterling and ultimately reduce the price they paid.

Using debt denominated in the same currency that the property is valued in provides sterling buyers with natural protection against exchange rate moves, argues Simon Smallwood of International Private Finance, the overseas mortgage broker – although a strengthening of these currencies against sterling would increase the sterling cost of the mortgage repayments.

Michael Hampden-Turner, a credit strategist at Citi Bank, recently bought a large penthouse in Zell am See in the Austrian Alps from Mark Warner Property. Although he could afford to pay in cash, he took out a euro mortgage – believing the euro will begin a slow decline and revert to its long-term average rate of 1.5 to the pound in a few years.

He believes that because of sterling weakness, it is to a UK buyer’s advantage to borrow as much as possible and reduce this leverage as exchange rates become more favourable. As a result, he has taken out a 20-year repayment variable rate mortgage with the option to overpay as much as he likes.

Hampden-Turner notes that while sterling remains weak – with the Bank of England base rate at 0.5 per cent compared with a eurozone interest rate of 1.5 per cent – recent hints from the European Central Bank suggest this differential is likely to change. Futures markets are predicting that eurozone interest rates will be down to 1 per cent by March 2012. “Therefore, the liability of a large euro mortgage is likely to decline over the next year or two,” explains Hampden-Turner.

A similar strategy could be employed by taking out a franc mortgage on a Swiss property. Last week’s decision by the Swiss National Bank to peg the franc to a ceiling of CHF1.20 to the euro has seen the cost of buying in Switzerland fall – although it remains expensive compared with a few years ago.

Buyers who believe the franc will depreciate further against sterling could therefore make big savings on a Swiss property purchase, particularly with the low interest rates on offer. Three-month Swiss Libor is currently at 0.005 per cent.

However, experts warn that majority of buyers – unless they are sophisticated investors with a strong understanding of the currency markets – should avoid trying to speculate on exchange rate movements, as markets are impossible to predict with any certainty.

Currency brokers say they have seen an increase in the number of Britons seeking to protect themselves from exchange rate volatility by using forward contracts to set their rate in advance.

According to HiFX, the number of clients booking forward contracts has increased by more than 30 per cent in the last three months. These contracts enable buyers to protect themselves from falls in exchange rates, although they also mean there can be no upside from any improvements in rates.

A compromise is to use a currency option. “Utilising currency options is one good way to protect your purchase from negative exchange rate moves in the market, by locking in a worst-case rate,” explains Nick Jones of World First. “But it also allows you to see the benefit if the rates move favourably in the lead-up to the time of the transfer.” (FINANCIAL TIMES)

Consumers, brokers battling over lower mortgage interest rates

In Australia, estate brokers and dealers of low mortgage interest rates are on the loose as real estate demands are ballooning at superficial levels.

Real estate dealers are trying to ride on a growing culture of real estate investments among all strata of income-earners as people tend to believe the costs of their properties will be going up several times year after year. Low mortgage interest rates’ dealers too are in the best times of their lives as thousands of interested individuals put mortgage companies’ query machines and customer desks in heavy traffic.

The property bubble in Australia is starting to gain ground at the household levels. People are diverting their earnings to real estate investments hoping that later, their properties will be worth a dozen folds than its current value. Mortgage applications are piling up at approval desks of financing companies. Those who can afford to purchase current high-value properties dream even higher of more future profits than those which can settle on financing schemes.

But in the United States, mortgage interest rates have now reached to 4.58 percent, the lowest drop ever since half a century ago. Real estate brokers have been draining their sweats for hours each day with no one interested to avail of their units being sold. Those who have existing mortgage deals rush for refinancing schemes, but only a few can qualify.  Since the US economy starts to shake, mortgages application policies have become stiffer even for those with decent earnings to date.

Those with enough savings to purchase real estate properties in Florida and other areas find the current post-bubble era a perfect time to buy units at very low prices. Several foreclosed properties come cheaper than ever. Those presently paying low mortgage interests can buy new homes, bigger and better, without moving up their current payables as new mortgage interest rates have now been quite low. Even those who want to retain their properties by refinancing to lower mortgage interests can enjoy the current conditions.

But Australians seem to disregard what is going one in the United States. Soon, when the property bubble in Australia busts, mortgage interests will plummet along with the market value of those properties being afforded to them in the real estate market now. So if you are in Australia, think again before you buy a house.

House prices in Australia's capital cities fall

House prices in Australia's capital cities dropped by 0.6 per cent in July, according to the latest figures in the RP Data-Rismark Home Value Index.

On an annual basis, a fall of 2.9 per cent was recorded, although in Sydney and Canberra, capital values rose by 0.5 per cent and 1.9 per cent respectively in the 12 months to July 2011.

Rismark's international economist Christopher Joye explained that the next interest rate decision by the Reserve Bank of Australia (RBA) could be crucial for the Australian real estate sector.

"If rates do remain on hold, or begin to fall, we would expect to see Australia's housing market find a base and begin to generate capital gains again," he stated.

Mr Joye added that it would be "surprising" if the RBA had "come to the end of its tightening cycle".

A report published by Savills last month named Sydney as one of ten world class cities for residential property investment.

The firm concluded that the Australian location represented the best value among the so-called "old world" destinations that also includes London, Paris, New York and Tokyo.

Residential property sales in Spain fall

The number of homes sold in Spain dropped dramatically during the second quarter of the year, compared to the same period in 2010, it has been revealed.

An AFP report published on Expatica.com cited government figures that showed a 40.8 per cent fall in the level of Spanish property sales taking place.

The news provider noted that this followed on from a 30.4 per cent decline in the first quarter of 2011, compared to a year earlier.

It added that over 90,000 homes were sold in the three months from April to June, although there are an estimated 1.5 million properties still on the market in the nation.

And this reduction in sales is coupled with a decline in real estate prices in the country, with Global Property Guide revealing last month that housing values fell by 8.43 per cent in the second quarter, compared to a year earlier.

In addition, a quarter-on-quarter drop of 3.1 per cent was also recorded in the Spanish real estate sector during the same period. (Propertyshowrooms)

French property prices rise

Properties in France have recorded their fifth consecutive quarter of price rises, the latest data published by FNIAM shows.

According to Property Wire, the organisation - which represents more than 1,700 estate agents in the country - recorded a 3.3 per cent quarterly increase in real estate values.

This year alone, average prices have jumped by 6.8 per cent so far, the news provider noted.

However, FNIAM is predicting that the market will stabilise by the end of 2011, adding that house values could even decline before the year is out.

Chief executive of Leggett Immobilier Trevor Leggett told the publication that it is important that both buyers and sellers remain realistic about French house prices, stating "sensible pricing will mean that transaction levels remain consistent and both buyers and sellers will benefit".

Meanwhile, RFI reported yesterday (September 8th) that property values in Paris have risen by 22.5 per cent in the last year, making this the biggest hike the real estate sector in the region has seen in two decades. (Propertyshowrooms)

Real estate prices rise in Turkey

The latest figures from the REIDIN.com real estate index for Turkey has revealed that, overall, property prices in the country increased during August, compared to the previous month.

On average, home values in Turkey rose by 0.55 per cent, with Ankara, Izmir and Kocaeli exhibiting the greatest increases of 0.95 per cent, 0.93 per cent and 0.85 per cent respectively.

Bursa was the only region to record a monthly fall in property prices, although this was marginal at 0.02 per cent.

Year-on-year, Istanbul has the strongest performing real estate sector, with housing values in the city up by 7.42 per cent compared to August 2010.

Ankara and Adana have both also posted increases greater than six per cent on an annual basis.

At the other end of the scale, the only region to experience a decline in home values since August 2010 is Antalya, with prices dropping by 5.38 per cent.

Earlier this month, a report released by the Foreigner Affairs Unit at the Land Registry Directorate revealed that Antalya is the province of choice among overseas buyers.

According to the organisation, 31,000 properties are now owned by foreigners in the area, with approximately 111,200 real estate assets purchased by those from outside Turkey across the entire country. (Propertyshowrooms)

US housing starts fall in August

The number of housing starts in the US dropped in August by five per cent, compared to July, and were down by 5.8 per cent year-on-year, the latest figures from the US Department of Commerce show.

However, the number of building permits issued increased on both a monthly and an annual basis, by 3.2 per cent and 7.8 per cent respectively.

Acting US commerce secretary Rebecca Blank commented: "We know the market is volatile and struggling, which reinforces the urgent need to take action to put more people back into work and put more money in the pockets of American families."

Experts at Capital Economics noted that the fall in housing starts just adds to other evidence that the US residential real estate market is struggling.

Analysts at the organisation pointed out that these figures, coupled with recent declines in consumer confidence and mortgage lending, indicate that demand for new properties is "close to rock bottom". (Propertyshowrooms)

'Good prospects' for north-east Brazilian property

 

Investors looking for real estate in Brazil have been advised to focus their attention on the north-east of the country by one firm operating in the nation. According to Obelisk International, which specialises in investment opportunities in Brazil, land is not at such a premium in north-eastern regions, while there is strong demand for properties in this area. Consequently, the company believes that this part of the country offers "a more stable long-term future than the big cities in the south-east". Gary Hardacre, chief executive officer at Obelisk International, added: "Huge demand is undoubtedly the main factor behind the long-term potential for the real estate market in Brazil." Earlier this month, director of the Brazilian Company for Patrimonial Studies Luiz Paulo Pompeia told Property Secrets that buyers should negotiate with developers to obtain a reduced price on their investment. He explained that offering to provide a larger down payment for the asset in question could be one way to help convince them to lower their asking price.

Australian distressed properties to increase in popularity

The level of distressed property sales in Australia will shoot upwards over the coming 12 months as the country's property market recovers.

Colliers International has claimed that there will be a double-digit increase in the number of foreclosed sales, with lenders desperate to offload such assets from their books.

"We are expecting a lot of larger assets, say A$20 million-plus assets, to come onto the market due to the improvement of the property market," Mathew Tiller, Colliers research manager, told Reuters.

Indeed, Mr Tiller added that he expects double-digit growth in value and volume of distressed assets over the next 12 months, with development sites and flood-stricken farmland to figure among the sales.

It follows news that property sales in Australia have petered off following their strong growth last year.

The latest Housing Industry Association (HIA) figures have revealed that sales of new homes were almost static in February compared to the previous month. (Propertyshowrooms)

Rental rates have increased in Australia

Rental rates in some areas of Sydney (Glebe, Randwick and Potts Point) have increased by 11% at least. The average residential rent price in these areas works out $ 534 per week.

According to analysts of RUN Property Company, the largest increase of rental rates was recorded in Sydney’s Neutral Bay, where the average rent price grow more than by 12%, News reports.


The largest rent prices’ rise was in such Melbourne’s areas as Armadale, Glen Iris and Kew, where tenants should pay 10% more than one year ago. Housing rent went up by 9% in such districts as Fitzroy, Essendon, Fairfield, Brunswick and Moonee Ponds.

In Brisbane the largest prices’ rise was recorded in Nundah, Clayfield, St.Lucia, Logan Central. Housing rent prices have risen there by 5% year-on-year.

Analysts assure that many Australian tenants try to stay as long as possible because rental prices usually rise while sighing new contracts

Housing prices in Dubai will fall by 15% to the end of 2011

Property sale and rental prices on the weakest property market of the Persian Gulf have declined more than by 50% since 2008. Buyers shouldn’t hurry up because analysts forecast the next residential prices fall in Dubai.

Experts, interrogated by Arabian Business, believe that low-end housing segment will be suffered most of all. Prices and rental rates will decrease there by 10-15%. The main reason is the excess of low-end property in Dubai. Residential luxury property prices will fall not so significantly, the analysts add.

Specialists of Colliers International counted that to the end of 2011 about 13 thousand of properties in Dubai will come into the market, next year 27 thousand of properties will fill up the market. It will put pressure on prices, the experts say.

As Prian.ru reported, the government of UAE made a decision to increase an expiration date of the resident visas for property buyers from six months up to three years. The Authorities hope to attract new foreign investors. Property owners, who purchased properties worth more than 1 mln dirhams ($ 270000), can expect to receive a three-year visa.

But analysts doubt that such government’s steps can significantly support the Dubai property market. According to experts of Jones Lang LaSalle Company, buyers are aware of the current market situation and will not overpay for property only for visas. 

Housing prices in South Africa are lower that year ago

 
Journalists have upset property buyers information that housing prices’ rise continues in the country. Lately they claimed that every property type fell in price.

Average price of small house (80 -140 sq.m) in South Africa worked out 757000 rand (€77 700), Business Live reports citing Absa company data. Such properties decreased in price by 10% adjusted for inflation, which reached 5% in June - report PRIAN International Property.

One can purchase a medium-sized home (141 – 220 sq.m) for 995 000 rand (€ 102 000) in July. It is 3,3% less  than last year. Owners wanted to get 1,5 million rand (€ 153 000)  for a spacious  221 sq.m.villa.  Prices of such type homes declined by 3,8% yearly.

Houses for sale in Sweden safe from fictional crime spree

Swedish property owners can relax, reassures the countryТs police, in response to growing interest in the country and its fictional crime scene.

Sweden, and particularly the town of Ystad, has become well-known in the Uk thanks to TV shows such as  Wallander. The Kenneth Branagh-played detective has introduced Sweden to many as a hub of criminal activity, where murders take place on a regular basis. But the police are correcting the image portrayed in Henning MankellТs popular thrillers.

УThis is a very peaceful place,Ф Inspector Charlotte Lindh told the Toronto Sun. "I am happy I can bring up my children up in Ystad."

Murderous reputation

Stieg LarssonТs Milennium trilogy, beginning with the novel The Girl with the Dragon Tattoo, has also added to the countryТs murderous reputation.

The best-selling books about sociopath computer hacker Lisbeth Salander have spawned two separate film adaptations, one Swedish production in 2009, and an upcoming American remake by director David Fincher, due for release this year. Both feature violence, murder and other scenes of assault.

Tourism industry makes a killing

The fictional blood-spilling in the Swedish streets has undoubtedly helped to boost the countryТs tourist industry Ц according to last yearТs figures, overnight stays in the capital of Stockholm have increased by over 75 per cent since 2000.

But while property buyers may expect to find a nationwide crime scene on their doorstep, they can be reassured that houses for sale in Sweden remain a safe investment.

Energy Efficiency Meets Unique Architecture with New Slovenia Apartments

The new energy-efficient Lace apartment community in Nova Gorica, Slovenia, has been designed with visually striking architecture that also protects from some of the country’s more extreme weather conditions, both during the hot summers and the harsh, windy winters.
The “lacy” exterior wraps around the building in such a way that balconies, roofs and dividing walls overlap one another. This unique use of space, designed by OFIS arhitekti, creates privatized areas that give off more character than conventional, cookie-cutter layouts. The geometric shapes that are created by the structure’s odd angles have been described as “Tetris-esque.”

Meanwhile, the façade acts as a buffer that insulates the interior from the weather’s high and lows. Openings in the structure are engineered to let in shafts of light, and shading panels made of aluminum are part of the outside walls. Residents look to benefit from the design’s energy efficiency both in terms of cost and comfort - report MHN news.

Australian women increasingly buying property alone

More Australian women are buying property alone, according to new research.

Specialist lender, RAMS Home Loans has recent data suggesting “There is a growing trend towards sole home loan applications from women.

RAMS Chief Operating Officer, Susan Bannigan said “The last year has seen the number of sole home loan applications submitted to us by women reach an almost 50 per cent nationwide split with sole male applicants who usually make 70 per cent of sole applications.”

The lender said this is no surprise.

According to RAMS CEO Melos Sulicich, “Our experience shows women have become very comfortable and knowledgeable about the process of buying property. It's interesting to speculate on what might be required to accommodate the housing needs and plans of increased sole female buyers. We can’t classify these buyers as single women as they may not be.” said Mr Sulicich.

The trend towards sole female property ownership also has variations across states.

Cheryl Haywood, Principal of RAMS Southern Vales in South Australia said “I’ve dealt with a number of single female refinance deals as newly single women reposition themselves as the household owner as a result of a marital or relationship breakdown. These kinds of deals are becoming more and more common.”

Jenny Karabatsos, Business Manager at RAMS Alphington in Victoria says she has noticed the change at her local office, “Over the last year we’ve seen a definite increase in the number of women visiting us to talk about sole application home loans.
“The majority tends to be for owner occupier loans but there is also an increase in the number of women buying for investment purposes.”

Spanish Real estate statistics

• Underwater mortgages more than double in 2 years to 250,000
  

• Resale asking prices down 7.3pc according to property portal

• Spanish house prices up x10 in real terms over 30 years

• House sales up 23pc in a quarter, but down 41pc in a year

Underwater mortgages more than double in 2 years to 250,000

Negative equity is back with a vengeance as property prices plummet, finds a new study by consultants Oliver Wyman.

The number of Spanish homes that are worth less than their mortgages has more than doubled in the last 2 years to at least 250,000, finds a new study.

Anyone who bought in 2007 or later with a LTV of 80pc is now likely to be in negative equity, as property prises have slumped 20pc or more since the 2007 peak.

2 years ago, as Spain’s property boom turned to bust, the number of underwater mortgages was already at 100,000. Since then, house prices have done nothing but fall, forcing another 150,000 Spanish home owners into negative equity.

In Spain, unlike the USA, borrowers in negative equity cannot simply hand over the keys to the bank and walk away from their debts. Lenders can pursue borrowers for as long as it takes to get repaid in full, and can add on penalty charges for late payment that significantly increase the cost of the loan.

And foreign borrowers cannot expect favourable treatment: In theory, Spanish lenders can go after the UK assets of British borrowers in default through British courts.

Resale asking prices down 7.3pc according to property portal

Resale asking prices have fallen 7.3pc over 12 months to the end of August, according to idealista.com – one of Spain’s leading property portals.

That is marginally better than the 8.2pc annualised fall in July, but that is as good as the news gets.

In Euros / m2, the average asking price of resale property advertised for sale in the Idealista database now stands at 2,167 €/m2, down from 2,339 €/m2 a year ago, and 2,172 €/m2 a month ago (-0.2pc).

On a monthly basis (30 days), prices rose in 9 autonomous regions, led by Navarre (+1.6pc), Asturias (+1.2pc) and Cantabria (+1.1pc), all three of which are in the North of Spain. Prices fell the most in Aragon (-1.7pc), La Rioja (-1.5pc) and The Balearics (-1pc).

So it seems that vendors continue to reduce their expectations as Spain’s real estate crisis grinds on.