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UK residential property prices still rising and now 9% higher than a year ago, latest index showsWednesday, March 31, 2010Residential property prices in the UK increased by 0.7% month-on-month in March and by 1.6% in the first quarter of 2010, according to the latest index. Price rises in March have largely reversed a 0.8% fall in February and the average property is 9% higher than a year ago, the data from the Nationwide shows. It also reveals that stamp duty savings meant the typical first time buyer was £1,368 ... more |
Consultants call for professional property valuation standards for the Gulf regionMonday, March 29, 2010More professional property valuation standards are needed if confidence is to return to real estate markets in the Gulf region, it is claimed. Establishing a more mature valuation system will also lead to improved activity levels and aid the recovery of the market, says a new report from international real estate consultants Jones Lang LaSalle. With property prices falling by more than ... more |
All Rawalpindi roads to have parking spaceSaturday, March 27, 2010The Rawal Town administration has decided to allocate parking spaces along all roads and declared several roads as one-way to facilitate the motorists and visitors. Space would also be created at the Dalgran Bazaar for parking vehicles. The Rawal Town administration has started work on the plan in consultation with the Rawalpindi Development Authority (RDA) and City Traffic Police. The ... more |
Commercial property market in Portugal showing signs of recovery after worst year on recordThursday, March 25, 2010The Portuguese commercial real estate market is showing signs of a gradual recovery after all sectors experienced a severe downturn in 2009 that amounted to its worst ever year on record, according to a new report. It is ready to recover, albeit at a very modest level, as confidence improves and activity levels begin to increase, says the report from consultants Jones Lang LaSalle. ‘As we ... more |
RDA expedites work on first phaseThursday, March 25, 2010Rawalpindi: The Rawalpindi Development Authority (RDA) has expedited work on implementation of first phase of Parking Plaza and Shopping Centre at Fawara Chowk, Raja Bazaar. RDA Director General Makeen Shahbaz accompanied by Land Directorate and Estate Management Director Shuja Ali told this correspondent here on Wednesday that the work on shifting of services has been initiated by the conc ... more |
Rise in property lending in Dubai, latest figures showWednesday, March 24, 2010A 75% increase in property lending in Dubai so far this year compared with the same time last year indicates that confidence could be returning to its hard hit real estate market. The latest figures from the Dubai Land Department show that between January 1 and March 21 AED9.99 billion ($2.72 billion) worth of new mortgages were registered. This is up 75% on the corresponding period in 2009 ... more |
Agents highlight new appetite for luxury property in New ZealandTuesday, March 23, 2010Luxury houses at the top end of the real estate market in New Zealand are selling fast but analysts are warning that the renewed interest in multi million dollar properties does not mean a recovery. The latest figures from the Real Estate Institute show that 166 luxury properties were sold in central Auckland in January and February, up from 130 in the same period last year. Although ... more |
Residential property listings still falling in 10 key cities in the US, research showsMonday, March 22, 2010Average listing prices for residential properties in 10 key cities in the US fell by 1.3% in February, the seventh month of price declines in a row. The latest 10 city composite index from Altos Research also shows that even though the listing time is generally decreasing, properties still tend to go unsold for the first 100 days of being listed. The 10-city home price composite index was ... more |
Developers looking outside Dubai to wider Middle East as they start to look at a positive placesThursday, March 18, 2010Signs that the property industry in the gulf and Middle East is healing from its bruised and battered downturn are beginning to emerge with developers looking to the future but the focus is very much away from hard hit Dubai. New developments are largely outside Dubai which saw prices slump up to 50% last year and those that are operating in the emirate don’t see any recovery for at least a ... more |
New procedure for property registration to be introducedThursday, March 18, 2010Lahore: A new procedure is being introduced for registration of property belonging to citizens of Lahore district. The procedure would be similar to the preparation of computerised national identity cards (CNIC). An applicant would have to receive a token and submit his documents to a clerk while the fees for the registration of the property would be paid in a bank through challan forms. Fo ... more |
Real estate markets in Abu Dhabi and Dubai becoming entwined as prices even out, research showsWednesday, March 17, 2010Property prices and rents in Abu Dhabi are likely to decrease in coming months, putting the emirate more on par with neighbouring Dubai, it is claimed. The property markets in both emirates are entwined and this is likely to have a stabilising effect with price differences between the two narrowing, according to an analysis from property advisors Tasweek Real Estate Marketing and Development. ... more |
Rising demand for rental properties set to boost the private landlord sector in the UKTuesday, March 16, 2010Property landlords in the UK are likely to see rental expectations increase as the supply of new properties coming onto the market falls for the second quarter in a row. The latest residential lettings survey from the Royal Institution of Chartered Surveyors shows that the rise as new instructions fall brings an end to the downward trend in rents that has been around since the autumn of 20 ... more |
SC orders CDA to submit list of affected villagersTuesday, March 16, 2010Islamabad: A three-member Supreme Court bench on Monday directed the Capital Development Authority (CDA) to prepare a list of 240 genuine affects of Sarian and Bokra villages, who will be allotted plots by CDA in return of their acquired land, and submit a report before the court today (Tuesday). The bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Ch Ijaz Ahmed and Justic ... more |
SC resumes hearing into CDA plot allotment scam todayMonday, March 15, 2010Islamabad: A three-member bench of the Supreme Court (SC) will resume hearing today (Monday) into a mega scam of plots allotment by the Capital Development Authority (CDA) in sectors I-11 and I-12 of the federal capital. The bench comprises Chief Justice (CJ) Iftikhar Muhammad Chaudhry, Justice Chaudhry Ijaz Ahmed and Justice Khalilur Rehman Ramday. Besides others, the CDA chairman, Islamab ... more |
UK landlords more upbeat about the private rented property sector but say lending is too tightWednesday, March 10, 2010Private property landlords in the UK are upbeat about the rental sector and more confident than they were a month ago about the outlook for 2010 Some 61% feel good about the buy to let sector, up from 57% in February, according to the latest monthly rental confidence index from Upad, the national landlord advertising portal. Survey respondents leaving comments stressed the increased posit ... more |
NZ sees surge of property on market as buyers become more cagey, reports showMonday, March 08, 2010The number of new properties on the market in New Zealand surged in February but buyers are becoming more cagey, according to the latest monthly real estate reports to be published. The number of unsold houses across the country is rising with listings up 47% from January to February, their highest level since April 2008, the monthly report from listings website realestate.co.nz shows. ... more |
Investment opportunities in Costa RicaSunday, March 07, 2010The country, which is often deemed the USA's version of Spain, has the longest life expectancy in the western hemisphere, with the tourist industry growing rapidly over recent years. Costa Rica Invest says the low cost of living and low property taxes have attracted retirees to the country, with 60 per cent of tourism arriving from the US. Invest says new opportunities to buy in the country ... more |
Property price falls 'not caused by supply and demand'Thursday, March 04, 2010Prices fall because people cannot afford to buy, not because there are not enough properties on the market or buyers are not interested, explained Paul Holmes, chief executive officer of first-time buyer advice firm Firstrung. "The reason they can't buy a property is because the speculative mortgage product has completely disappeared," he commented. "They can't afford to buy because th ... more |
Banks must lend to aid mortgage market, expert saysWednesday, March 03, 2010There is pressure on banks to lend and they must do so, said Catherine Hearnden, director of financial advice firm MyMortgageDirect. She pointed out that increased loan-to-value mortgages are being offered, but buyers still require a deposit and face higher interest rates. Homebuyers must continue to be sensible with their finances and assess mortgage options carefully, the expert cont ... more |
Self-build market "more favourable"Monday, March 01, 2010Increased land availability, falling prices and cheaper materials and labour mean there is a real demand from homeowners who are frustrated by the current property market, explained Raymond Connor, chief executive of construction supplier BuildStore. "With a low supply of quality homes and such good savings to be made right now, in terms of land, labour rates and materials prices, there has ... more |
