The temperate climate and breathtaking scenery of Portugal’s southernmost region has long made the Algarve a property magnet for British expats. And as the pound reaches its highest level against the euro since the 2007/08 global economic crisis, a relatively affordable Portuguese property market is becoming even better value for sterling buyers.
While dramatic cliffs, cathedral-like grottos and secluded sandy coves dot the shoreline, the Algarve coastal region features an exclusive centre where the rich and famous purchase property in places such as Quinta do Lago. More affordable is the western Algarve and recently there has been a surge of interest in the east. From converted convent to quirky townhouse, choice abounds.
Although Portugal and its property market were hard hit by the global crisis, nowadays the country is showing signs of recovery. That Portugal exited from the €78 billion (£55 billion) EU/IMF bailout of 2011 in May 2014 is seen as good news. So too, the IMF forecasts GDP to reach 1.6 per cent this year.
Demand for new housing In Ireland will continue to increase in accordance with population trends and a reduction in household sizes with 21,000 new homes needed per year for the next three years.
Details from the National Housing Statement by the Housing Agency points out that the population is currently at its highest for 150 years at 4.5 million and demand for homes is high as a result.
It also shows that affordability is an issue for those looking to buy in the greater Dublin area.
Overall house prices have increased across the country with the median price nationally at €152,000, up from €140,000 in 2013. In Dublin it is €260,000, up from €220,000 in 2013.
Firms linked to Czech investor Zdenek Bakala have agreed to sell residential property group RPG Byty to affiliates of real estate firm Round Hill Capital, the companies said in a regulatory filing with the Irish Stock Exchange on Thursday.
The deal involves 43,000 apartments -- the biggest private portfolio in the central European country -- that Bakala and other investors bought along with coal mines in north-east Czech Republic shortly after they were privatised more than a decade ago.
The residential real estate market in Portugal is seeing an ongoing steady recovery in prices, supported by rising demand and increasingly strong growth in sales activity, according to the latest index.
While the lettings market has seen rents stable for a fourth month in succession following years of persistent decline, the index survey from the Royal Institution of Chartered Surveyors (RICS) and Confidencial Imobiliário shows.
The data also shows that new buyer interest continued to rise at a firm pace across all regional markets, with growth particularly pronounced in Porto during June. But the market is still open to the weakness of the euro zone, particularly Greece.
Home prices across the United States, including distressed sales, increased by 6.5% in June 2015 compared with the same month in 2014, according to the latest index.
It is the 40th month in a row of year on year price increases and values were also up month on month with growth of 1.7% in June compared to May, the CoreLogic home price index also shows.
Excluding distressed sales, home prices increased by 6.4% in June 2015 compared with June 2014 and increased by 1.4% month on month with only Massachusetts (-1.5 percent) and Louisiana with an annual price fall of 1.5% and 0.1% respectively.
The rental market in Paris is now subject to new rent control regulations covering all new residential leases and those that are up for renewal.
The law seeks to cap rent increases from one lease to the next in the country’s largest cities as part of sweeping housing reforms promised by French President Francois Hollande during his election campaign.
The policy is likely to be popular among tenants in the city who have seen home rents rise by 42% in the last 10 years, although it has been criticised by estate agents and landlords.
Norwegian seasonally adjusted housing prices fell by 0.3 percent in July compared to June, a real estate industry association said on Wednesday.
On a year-on-year basis, prices rose by 6.8 percent in July, Real Estate Norway said. Unadjusted prices fell by 1.1 percent in July from June.
Planning permission for new homes in New Zealand in the first half of 2015 was higher than any previous year, new data shows, but not enough to match current shortfall.
Between January and June 2015 some12,057 new dwellings, worth almost $4 billion, were consented, according to the figures from Statistics New Zealand.
The new building consent figures show the total floor area for the new homes was 221 hectares, enough to cover an area twice the size of Wellington Airport.
“The market is always very stable in Belgium and in Brussels,” Ms. Montanari said, given the city’s status as the headquarters of the European Union. As part of the green belt south of the city, Uccle has prices that are among the highest, and they have risen 20 percent since 2008, said Jean Corman, managing director of Victoire Properties, with offices in Brussels and Uccle.
While houses in Brussels and its suburbs generally gained 50 percent in value between 2000 and 2008, prices remain 15 percent lower than before the global economic slump, Mr. Corman added.
Lower priced houses in the United States have been outperforming the middle priced market and are now only 10% below their peak values of 2006, a new analysis shows.
Middle tier homes, typically selling between $120,000 and $345,000, are the worst performing segment with current price levels 24.8% below 2006 peak levels, according to a new report from real estate firm Clear Capital.
It says that this vast difference in market recovery underscores the continued challenges the majority of home owners face, despite a quicker recovery in both the bottom and top segments of the market.
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