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Press Releases from Global Property Guide (24 total)

Most expensive real estate markets in 2009

No surprise - Monte Carlo is No 1 in the Global Property Guide’s list of World’s Most Expensive Residential Real Estate Markets 2009, more than twice as expensive, at US$45,000 per square metre, as the runner up. [globalpropertyguide.com] Battling for the number 2 position are prime central Moscow and London. Prime central Moscow’s US$20,853 per square metre price tag slightly outpaces core Prime London’s US$20,756 per square metre, though it

World property market slide worsens

As financial markets tumble, the world’s housing markets have continued to slide during the year to end-Q2 2008. Inflation-adjusted house prices fell in 21 out of the 33 countries for which there is up-to-date published data. The Baltics, the US, the UK and Ireland led the global decline during the year to end-Q2 2008, the latest date for which comprehensive global statistics are available. The biggest house price declines

The end of the global house price boom

Weighed down by the credit crunch and high inflation, the global house price boom has ended, according to the latest Global Property Guide survey of house price indicators. Only 13 countries in which dwelling price indices are regularly published saw prices rise during the year to end Q1 2008, while 21 countries saw dwelling prices fall in real terms, i.e., after adjusting for inflation. In most countries

Gloomy days ahead for Asia’s housing markets

Asian property markets, though still relatively unaffected by the credit crunch, will soon be affected by inflation and higher interest rates, warns the Global Property Guide, because of rising food, fuel and other commodity prices. “Higher food, fuel and other commodity prices affect the housing market negatively in several ways,” says Prince Christian Cruz, senior economist at the Global Property Guide. “At the micro level, households may postpone their decision to

Asia house prices lead the world

Shanghai, China (up 35.4%) was the world’s strongest residential property market during the past full year, according to a compilation of official and private-sector statistics by the Global Property Guide. Bulgaria (up 34.6%) was in second place, followed by Slovakia (up 32.5%) and Singapore (31.1%). The worst performers were the United States (down 8.9% by Case-Shiller calculations), Ireland (down 7.3%), and Estonia (down 3.9%). Asia-Pacific’s strong performance was led by

Caribbean Property Prices

The Caribbean, the playground of the rich and famous, has been getting more affordable. The depreciation of the US dollar against major currencies such as the British pound and the euro, has made Caribbean properties more attractive. More affordable… but still not cheap! Property prices in more popular and developed islands can easily reach over one million US dollars for a house and lot near the beach.

Research firm assails rent control in Middle East

Rent control, seen by many economists as old-fashioned, has recently made a surprising comeback in one group of high-growth, dynamic economies – the Gulf. In December 2007 Dubai’s government toughened up its 2005 Rent Law and reduced the maximum 2008 rent increase to only 5%. Abu Dhabi has likewise capped 2008 rent hikes at only 5%. In neighboring Qatar, a rent freeze has been implemented while the government is

The Global Property Guide – relaunched

The Global Property Guide today re-launched its web site to make its data more accessible. The home page has been simplified. Major categories have been spelled out. The new Home Page has been organized around an expanded menu, to help the reader navigate the site. Key data items are easier to find, more obvious. The Global Property Guide The Global Property Guide is the authoritative source

2007: The world’s housing markets in review

In 2007, the US housing market crashed, and Europe’s housing markets slowed. But house prices in Asia-Pacific gained momentum. Bulgaria saw the world’s strongest house price growth at 30.6% (15.4% in real terms) to end-Q3 2007 from a year earlier. Shanghai’s red hot housing market continued to rebound, despite efforts by the government to cool the market. House prices rose by 27.85% to end-Oct 2007 from a year earlier; a

Buy-to-let investing in the Middle East

As US and European housing markets slow, investors are looking further afield. The Middle East’s housing markets have been rapidly opening - and both opportunities and dangers await property investors, according to a report released today by the Global Property Guide. Buy-to-let investors, particularly, should consider the Middle East. Dubai, the richest and most progressive emirate of the United Arab Emirates (UAE), started it all. In 2002, Dubai announced

Asia-Pacific leads house price boom

Europe’s house price growth continues to moderate, whereas prices in Asia-Pacific are heating up, according to indices assembled by the Global Property Guide (www.globalpropertyguide.com) based on country sources, for the second quarter (Q2) of 2007. House prices in the Baltics skyrocketed in 2005 and 2006. Latvia, Lithuania and Estonia experienced at least 25% annual increases during 2005-2006. House price growth peaked at 71% y-o-y to Q1 2006 in Estonia.

Swiss, US rental taxes highest in OECD

Switzerland imposes the highest taxes on rental income of non-resident landlords, according to a study on the tax situation in more than 90 countries around the world. The study has been conducted by Global Property Guide with contributions from leading accounting firms in each country. The effective income tax rate in Geneva, Switzerland can be as high as 48.6% on a rental income of €1,500/month and 54.5% on income of

Housing Transaction Costs in the OECD

In OECD countries, roundtrip transaction costs are generally below 10%. However there are some countries with transaction costs which are really unnecessarily high. South Korea has the highest housing transaction cost, at 22% of the property’s value in Seoul, according to work by the Global Property Guide. Transaction costs in Belgium, Italy, France, Luxembourg and Greece exceed 15% of the property’s value. On the other hand, total costs

Global housing boom shifts focus

Eurozone slows, but Asia-Pacific house prices surge The global house price boom continues in 2007, albeit at a much slower pace and with different set of countries, according to the online research house, the Global Property Guide (http://www.globalpropertyguide.com). A dramatic slowdown has taken place in several countries in Europe. House prices in Estonia, 2005 and 2006’s star performer, rose only 5.68% y-o-y to Q1 2007, dramatically lower than the 77.52% y-o-y

Asian property: A decade after the crisis

A decade after the 1997 Asian Crisis erupted, most housing markets in Asia are well on their way to recovery. Boosted by strong economic growth and strong local and international demand, residential real estate prices in the Philippines, Singapore and South Korea rose by more than 10% in nominal terms y-o-y to Q1 2007. In Hong Kong, after registering price falls in early 2006, the over-all residential price index is

House prices tumble in Latvia – The end of the Baltics house price boom

House prices have begun to fall in the Greater Riga area – a fall of 3.5% in the month of June 2007, following a fall 1% in May 2007, according to the leading Latvian real estate agent Latio. Prices have fallen “for the first time in history”, says Latio, which if not quite accurate, emphasizes the sense of shock. These figures are consistent with recent warning signs. But

Mumbai's sky-high apartment prices

Mumbai, India’s financial capital is one of the most expensive places in the world to buy a condominium unit, according to a Global Property Guide (globalpropertyguide.com) survey. Apartments in South Mumbai cost around US$9,000 to US$10,200 per square metre. “Such stellar prices can only be found in the world’s leading cities,” says Yasmin Rahman, yields and valuation analyst at the Global Property Guide. Property prices in other cities in India are

Slovak Republic most attractive among Europe's high yielding housing markets

The Baltics have till recently been Europe’s hottest residential investment destination, with Estonian house prices (e.g.) rising 556.41% between 1997 and 2006, and 245.95% in the past five years. But residential property in the Baltics is now expensive. Apartments in capital cities are priced at around the same level as in Copenhagen, Helsinki and Stockholm, according to research by the Global Property Guide (www.globalpropertyguide.com). Why have Baltics’ property prices surged

High Housing Transaction Costs in Europe

Overseas residential property-buyers beware! When you buy in Europe, you can pay up to 25% of the purchase price in round-trip costs, i.e., legal and other fees. Punitively high round-trip transaction costs are incurred in Russia (25%), Bulgaria (24.9%), Italy (17%), France (16.3%), and Greece (15.5%) (i.e., the total cost of buying and selling a property, including all taxes and fees). Purchasers of new property often incur

Residential Investment Rating Downgrade for Moscow, Russia

Effective immediately, the Global Property Guide (globalpropertyguide.com) is downgrading its Residential Investment Rating on Moscow residential real estate. Residential Investment Rating DOWNGRADE WHERE: Moscow, Russia FROM: 2 stars (negative) TO: 1 star (avoid strongly) Rationale: Moscow property prices are now among the highest in Europe, at from US$10,700 to US$20,500 per square metre in the key areas of central Moscow where the elite and foreigners live,

Restrictive rental markets in the Caribbean

The Caribbean is a playground of the rich and famous. It is also seen as business-friendly. Perhaps surprising, then, that some Caribbean countries have strongly restrictive almost socialist-style housing market systems, with strict rent controls, and strong security for tenants. In a study, the Global Property Guide (http://www.globalpropertyguide.com) examines the landlord and tenant systems of 19 Caribbean countries and territories in terms of rent control, security deposits and

A Mixed Year for Asian Residential Property in 2006, According to Global Propert …

The winners: Singapore, South Korea and the Philippines Singapore experienced Asia’s highest residential property price increases during 2006, with 9.5% real (inflation-adjusted) house price rises. There were also 9.3% real house price increases in South Korea, and 9.1% real house price increases in the Philippines. These were seen in the Global Property Guide House Price Indices, the biggest collection of residential property price indices. Singapore’s strong 2006 GDP growth rate, at 7.9%,

London and Monaco are Europe's Most Expensive Cities for Residential Property Bu …

London and Monaco are Europe’s most expensive cities for residential property buyers. Prices in the Baltics have risen to the same level as capitals such as Copenhagen, Berlin, Munich, Stockholm, Vienna, and Frankfurt. High rewards await property investors in some parts of Europe, according to the Global Property Guide, a residential real estate research organization (http://www.globalpropertyguide.com). Rental yields for apartments in several Eastern European capitals are above 10%.

Asian residential property buyers beware

Asia’s real estate markets seem, on the surface, to have recovered from the Asian crisis and to be back on their feet. In fact the entire world has enjoyed a residential property boom over the past decade - Europe, the US, Australia and New Zealand have seen property prices soar. But in Asia the reality is quite different. Asia’s residential markets have performed poorly, according to a report released today