TRAVEL BLOG on PROPERTY SALES
Properties for Sale:
Dubai Real Estate:
Moves by the Dubai government to inspire confidence in the once booming property market seem to have backfired.
The recession has shown that Dubaiís growth was financed by billions of
pounds of debt and this burden is threatening to drag the city under the
Several government-backed developers were at the forefront of major
residential and commercial buildings in Dubai.
Shares in the largest listed Arab developer Emaar Property had 10% wiped
off their price on announcement of the merger with Dubai Properties,
Sama Dubai and Tatweer.
These three companies are all subsidiaries of Dubai Holdings, which
has the backing of the Dubai royal family and analysts fear in the
background assets are just being shuffled on paper to shore up ailing
companies. So Dubai Real Estate
property for sale should be looked at for
the near future investments but future investments should not be far
USA Real Estate:
Property vultures are circling to pick the bones clean of deals as the
USA property sales market has wound prices back to the same levels as
they were in 2003 according to financial researchers Standard and
USA house prices fell 18% in April in S&Pís 10 and 20 city indices.
Commercial property has crashed alongside home prices registering a 20%
decline in values, with market expectations of another good way to go -
perhaps another 20%, so property sales
here therefore are for those that have the cash to buy outright and sit waiting for price values to rise again.
Cyprus Real Estate:
Cyprus Real estate, although the figures point to a very sharp decline in activity in the
property sales and development sector,
Cyprus property sales during June staged a slight recovery, boosting
expectations amongst some analysts that a slow recovery in the property
for sales market may soon get underway to a recovery.
In a statement to Stock Watch, Chairman of the Pancyprian Association
of Building Contractors Mr Sotos Lois said that Cypriots are grabbing
opportunities of buying apartments, villas and houses in coastal seaside areas, which are
being offered for sale at cheap prices. The slight recovery in
property sales and property development is also linked to lower interest rates
offered by the Cyprus banks for housing loans being
offered to Cypriots, especially young couples.
According to the contracts of sale deposited at the Cyprus Land Registry,
the drop in activity in the property sector in June fell slightly to
45.7% compared to -53.2% in May, -54.9% in April, -56.33% in March,
-64.7% in February and -71.6% in January.
Overall, the total number of
for sale in the first half of this year stands at 3,591. This
is 58% lower than the 8,610 sold during the first half of 2008.