first time buyer - where to buy?

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rowlandsbb

New Member
Last few seats available on the Free Polaris World Resort Visit on 16/17 th February 2008 but hurry
For anyone thinking about buying then it is almost a must to see all the facilities on offer and find out the great mortgage deals on offer from the Spansih banks to help you purchase
 
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VERGIS92

New Member
Hi,


if you are familiar with the property market of Crete, I can recommend you
various certified builders, you buy direct, and below market value..

please check my detailed threads in greece sections about rental, returns etc.

you can buy a good house with 5% deposit or less, in case of off plan
the value is even better .....


this market is only starting to develop and has plenty of room for growth
in coming years
 
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agentyumi

New Member
As I was searching for a “for sale property” I found this site and I recommended it also to my friend. He bought his new property from this site last month. Maybe it would help you also. Here it is www.egyptventure.co.uk
 
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VERGIS92

New Member
Greece offers up to 100% mortgages for new homes, typical 5.8% APR, or an off plan below market value would do for a short term investment, as for longer term investment there's no way to guarantee rental income but that it's down to you doing some research with letting agents...
You will either strike bad purchase-price,high standard, ready to let homes or low priced
bargains that need extra add ons in order to attract high end, 5 star tenants
Rental income as I see it is possible but there's no half way success, you will either fail to even cover interest or you will succeed and make
a lot more than that
 
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golto

New Member
one place to invest. DUBAI DUBAI

1- First and foremost, excellent rental income, in top 10
2- Best re-exporting city, in first three.
3- Crime rate zero percent. Very IMP.
4- Tsunami free port.
5- City of wealthy people. By 2014 it will be in first 5 most expensive cities.
6- Oil rich, can support its economy by oil earnings.
7- Property/tourism based economy.
8- Very close to unrest area, and wealthy ppl must come here for peaceful living.
9- All of modern worlds best icons/facilities/wonders, whatever u may call are present here. Like, 7 star hotels, tallest buildings, formula one racing, sports, media city, medical city, etc.
10- Liberal atmosphere.
 
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jun222

New Member
Hello,

Investment these days is best in Dubai. Even though there has been short period of slowness in the Market it still is a great place to invest. Just read this:

1. Dubai mortgage rates are around 8.5 per cent and have yet to adjust to the recent US rate cuts, which they have to do because of the dollar peg to the dirham. Just a couple of years ago local mortgage rates of seven per cent were available. Therefore the downward pressure on the cost of home finance is clear, and if the local mortgage market follows Hong Kong and becomes more competitive, then interest rates could go much lower, making it significantly cheaper to buy than rent. Real interest rates are already negative due to high local inflation.

2. Rental yields in the Dubai market of 7-10 per cent are abnormally high by international standards. Rents are unlikely to fall in a booming market, so it is more likely that rising capital values will gradually pressure yields down towards global levels. There is no reason why rental yields should be higher in a booming city like Dubai than in a city where the economic outlook is poorer.

3. The hype about Dubai development projects has admittedly duped even this skeptical correspondent over the years. The fact is that far less supply is coming on stream than promised by overenthusiastic developers, due partly to limited supplies of manpower and materials. Dubai Properties is one of the biggest and has just said it will deliver 5,000 units to the freehold market in 2008 which is not nearly enough to meet surging demand.

4. Dubai house prices are still low in absolute terms in comparison to other global cities with similar salary levels. The HSBC survey of house prices in comparison to per capita GDP put Dubai and Abu Dhabi near the bottom. This is a historic anomaly that will be eliminated by price rises.

5. Six years ago, when Dubai freehold began, it was a market without any formal legislation and regulatory infrastructure. Now it has world-class laws, a state-of-the-art land registry and a strongly-led regulatory authority. Hope has been replaced by experience.

6. The Dubai Financial Market crashed in 2006 pushing local investors into property as an alternative. It recovered in late 2007, but is now again trending downwards with global stocks, and has become highly volatile, shifting over 10 per cent in a day. Expect stock market participants to again seek a more stable alternative.

7. Indeed, the absence of investment alternatives is a major theme for 2008. Global stock markets have had their worst January in history. Recent US interest rate cuts leave deposits paying 2.8 per cent. This makes Dubai real estate look attractive as an alternative. Where else offers such a return?

8. In the same way that the local stock market crash attracted foreign bargain hunters to invest last year, foreign investors in search of yield are also increasingly investing in Dubai real estate. Problems in the UK housing market might be dissuading some buyers, but large numbers of oil-rich Russians, for example, are now buying in Dubai.

9. Dubai still has some undeveloped market niches in real estate, such as holiday lets and fractional ownership, which are big and even dominant market phenomena in many beach resorts around the world. This source of higher rental yield on property has therefore yet to be fully tapped.

10. The Dubai Government has been the most proactive developer in the emirate, and its recent legislation and regulatory initiatives suggest that this support is not only likely to continue, but will respond appropriately to any adverse market developments.
 
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chilling

New Member
Hello,

Investment these days is best in Dubai. Even though there has been short period of slowness in the Market it still is a great place to invest. Just read this:

1. Dubai mortgage rates are around 8.5 per cent and have yet to adjust to the recent US rate cuts, which they have to do because of the dollar peg to the dirham. Just a couple of years ago local mortgage rates of seven per cent were available. Therefore the downward pressure on the cost of home finance is clear, and if the local mortgage market follows Hong Kong and becomes more competitive, then interest rates could go much lower, making it significantly cheaper to buy than rent. Real interest rates are already negative due to high local inflation.

2. Rental yields in the Dubai market of 7-10 per cent are abnormally high by international standards. Rents are unlikely to fall in a booming market, so it is more likely that rising capital values will gradually pressure yields down towards global levels. There is no reason why rental yields should be higher in a booming city like Dubai than in a city where the economic outlook is poorer.
Sorry, I'm a novice and this might be a stupid question, but if the mortgage rate is at 8.5% and I only yield 7% with rents, how could that be profitable?
 
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Olly

New Member

Chilling

Novice or not, you're absolutely on the right track. Prices in Dubai are on their way down...possibly way, way down.

It WAS a prime market but it's already past its peak. All the big Gulf based developers are already moving off to other locations.

Listen to your own advice, you're definitely not a novice in this respect.

Incidentally, I am a trained & qualified professional real estate agent with a long experience and professional attachments & affiliations...could be said the opposite of the novice.

Good luck wherever you choose to invest.

Olly
 
realestatemart

realestatemart

Banned

Chilling

Novice or not, you're absolutely on the right track. Prices in Dubai are on their way down...possibly way, way down.

It WAS a prime market but it's already past its peak. All the big Gulf based developers are already moving off to other locations.

Listen to your own advice, you're definitely not a novice in this respect.

Incidentally, I am a trained & qualified professional real estate agent with a long experience and professional attachments & affiliations...could be said the opposite of the novice.

Good luck wherever you choose to invest.

Olly
a friend of mine told me prices in Dubai are falling down 50% so How could be save and good investment???
 
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chilling

New Member

Chilling

Novice or not, you're absolutely on the right track. Prices in Dubai are on their way down...possibly way, way down.

It WAS a prime market but it's already past its peak. All the big Gulf based developers are already moving off to other locations.

Listen to your own advice, you're definitely not a novice in this respect.

Incidentally, I am a trained & qualified professional real estate agent with a long experience and professional attachments & affiliations...could be said the opposite of the novice.

Good luck wherever you choose to invest.

Olly
Thank you for the info!
 
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rowlandsbb

New Member
Read the Times today...Dubai has gone!

Traditional and best locations always do best in recessions
Spain is still in demand but the effective demand [ those who can afford to buy] is now depressed but as the economies of the EU improves so will the effective demand for a place in the sun....Spain has it all and is the easiest to get to from most of Europe
Medium to Long term it will be OK
Time just right in 2009 to get a very good buy
 
realestatemart

realestatemart

Banned
Read the Times today...Dubai has gone!

Traditional and best locations always do best in recessions
Spain is still in demand but the effective demand [ those who can afford to buy] is now depressed but as the economies of the EU improves so will the effective demand for a place in the sun....Spain has it all and is the easiest to get to from most of Europe
Medium to Long term it will be OK
Time just right in 2009 to get a very good buy
I guess Egypt is the beating market now ;)
 
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Damian George

New Member
Hi Chantel,

Spain - Murcia and Andalucia - offer 50% below asking price

Emerging markets are about to collapse as they cant repay loans which you can read more at our currency blog - if you do invest in these markets do your homework!!! What is fair value, realisitc rentals?/? who will buy the property from you for a profit. Considering that LLoyds is pulling out of Dubai how will these risker markets preform.

Also do you have more information - what is your budget? do you need a mortgage? what return do you need to achieve?

Buy for now
 
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VERGIS92

New Member
Sorry, I'm a novice and this might be a stupid question, but if the mortgage rate is at 8.5% and I only yield 7% with rents, how could that be profitable?

8.5% is ridiculously high rate, However I wouldn't buy anywhere unless I know
I'd buying quite below market value, if you buy well below market value as is the case with off plan property you have locked in a good profit margin, don't just
count on rent,

They are right about Dubai correction but it's more likely to be between 10
and 20% at most, not 50%, it's been predicted in property newspapers
months now by serious analysts

Rental income is highly diversified here in Greece and not considered as a lending
criterion, at least not on holiday homes,

I think the best place to invest right now if you want to count on certain
rental income is London, UK prices will soon bottom out and will rise sharply
over the next years and it's possible to have an all positive cash flow from the
very first month.
 
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Damian George

New Member
Hi VERGIS92

I think you will see London Property Prices Falling 20% or more from where we are now.

The financial sector is about to layoff 20-50k people in London. Bonus will be cut to zero

Australians, South Africans and other Expats are starting to go home as there is no reasons to stay. (there is almost 2million australian and south africans in the uk)

Also until mortgage funds become readily available the downward slope will continue. Houses near us where 430k last year are hitting the market at 350k
 
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VERGIS92

New Member
Hi VERGIS92

I think you will see London Property Prices Falling 20% or more from where we are now.

The financial sector is about to layoff 20-50k people in London. Bonus will be cut to zero

Australians, South Africans and other Expats are starting to go home as there is no reasons to stay. (there is almost 2million australian and south africans in the uk)

Also until mortgage funds become readily available the downward slope will continue. Houses near us where 430k last year are hitting the market at 350k

Experts said average home value to decline a maximum of 30% from peak,
so far have gone down near half that figure, I'm not quite sure.
and were expecting a bottom bewteen now and 2010 the latest,
but fundamentals
still support the case that prices will keep on doubling every 7-8 years!
in the last ten years price rise far exceeded this average growth remember.
but still holds true, 100% up over 7- 8 years.

There's places near Universities and airports that are not really affected
by the crisis and you got a market that still falls short of supply vs demand,
all in all Britain is no like Germany or other country, is an overcrowded country
with a very serious housing shortage, this is a correction not a decline.


Britain is still my number one choice, but I'm more keen on buying an off plan
home, 6 to 9 months delivery time, in this case you can get serious discount,
the problem attached is that you cannot be very picky as to the area, is when and
where the developer will make this offer.
 
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Robert Davies

New Member
Calabria

Hi Chantel
This may come a little late as your first post was one year ago today, but I have moved to Calabria near a place called Pizzo and I love it and as for rental, there is some but in the summer however this part of Italy has some of the cheapest property prices in Europe, it was one of the main reasons for me. Good luck.
Bob
Hi,

I am about to venture on my first overseas property however am getting overwhelmed at 'where'? I am hoping for a short term investment to built some equity. That or a long-term rental with somewhere that's likely to guarantee rental which will pay for the mortgage. Can anyone assist in pointing me in the right direction? The most I read the more confused I get :confused:

Places I have been reading about is Albania, Calabria, and Prague. Help greatly appreciated.

Chantel
 
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indiainvestor

New Member
Hello,
I would like to buy house/apartment in the U.S. does any one know property regulation governing foreign nationals ( I am an Indian but i live in Belgium). Pls suggest ideal place/city less expensive apartments/house.
Best,
Bala
 
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Damian George

New Member
Dont think Bulgaria is the place to be at the moment for me even at 29k

think Spanish Property as well as France offer better longer term value
 
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Damian George

New Member
I am not convinced - sorry Spain or France is for me
 
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