
Wednesday, March 19, 2008
Mallorca

http://www.mfh.co.uk/PropertyDetails.aspx?PropertyId=688
Mallorca

http://www.mfh.co.uk/PropertyDetails.aspx?PropertyId=664
Overseas Real Estate Purchases Decline on Subprime Woes
South Koreans' purchase of overseas real estate has continued to decrease over the past few months on growing concerns about the state of the global economy. The U.S. economy has become stagnant since the middle of last year when the housing market plunged as a result of subprime mortgage defaults.The sluggish U.S. housing market has dampened investors' sentiment here as the country is the most popular destination for overseas property investment by local individuals and businesses.According to the Ministry of Strategy and Finance Wednesday, local residents purchased homes and other properties in foreign countries worth $45 million last month, down from $52 million a month earlier. The number of transactions totaled 147 in February, compared with 123 in January, and the average property transaction was worth $300,000, down from $420,000.
http://www.koreatimes.co.kr/www/news/biz/2008/03/123_20976.html
http://www.koreatimes.co.kr/www/news/biz/2008/03/123_20976.html
Encouraging foreigners to purchase in Turkey
The Turkish Finance Ministry and Housing Development Administration have signed a protocol aiming to implement the "Spanish Model" concerning the sale of real estates to foreigners in Turkey . Construction of villas and holiday villages in various coastal regions and areas with thermal springs are planned. Resorts with facilities such as tennis courts, golf courses and health spa’s are planned to attract foreign purchasers.
South Africa: Listed Property Takes a Knock
IN SPITE of double-digit distribution growth, the South African listed property sector has lost 24% of its value since November .
This almost equals its record fall of 25% from May to July 2006, when SA suffered its first interest rate hike after three years of significant cuts.
Len van Niekerk, head of quoted property at Old Mutual Investment Group SA, said he believed the fall in unit prices was due to a combination of illiquidity in the listed property sector and "increasing risk aversion globally".
http://allafrica.com/stories/200803190402.html
This almost equals its record fall of 25% from May to July 2006, when SA suffered its first interest rate hike after three years of significant cuts.
Len van Niekerk, head of quoted property at Old Mutual Investment Group SA, said he believed the fall in unit prices was due to a combination of illiquidity in the listed property sector and "increasing risk aversion globally".
http://allafrica.com/stories/200803190402.html
Jones Lang LaSalle (JLL)
Jones Lang LaSalle (JLL) has introduced estate management services in Phuket to serve the rising demand for branded property management from luxury resorts and villas. Dexter Norville, head of estate management services for JLL in Phuket, said there was high potential demand for services given the proliferation of new luxury hospitality developments.
He said developers were focusing more on creating a brand image through the quality of the project and customer relationship management in order to generate sales, leaving estate management to professional independent providers.
In addition, unit owners have become more demanding for branded professional management services, not only to maximise their comfort but also to ensure maximum return on investment.
JLL is currently managing three luxury resorts in Phuket: Kata Gardens, a 33-unit villa development by Raimon Land Plc; a resort component of Blue Canyon Country Club with 98 condominium units; and the 14-villa Seaview Residence.
He said developers were focusing more on creating a brand image through the quality of the project and customer relationship management in order to generate sales, leaving estate management to professional independent providers.
In addition, unit owners have become more demanding for branded professional management services, not only to maximise their comfort but also to ensure maximum return on investment.
JLL is currently managing three luxury resorts in Phuket: Kata Gardens, a 33-unit villa development by Raimon Land Plc; a resort component of Blue Canyon Country Club with 98 condominium units; and the 14-villa Seaview Residence.
New Thailand tourism website
The Tourism Authority of Thailand has launched a new themes and deals website, a handy tool for those beginning research on a trip to the Southeast Asian hotspot.
Information on the colorful site is organized into themes, including beaches (from Samui to Phuket), nature (think luxury tents and jungle tours), trendy (Bangkok boutique, baby) and Thai-ness (historic palaces and the like).
Information on the colorful site is organized into themes, including beaches (from Samui to Phuket), nature (think luxury tents and jungle tours), trendy (Bangkok boutique, baby) and Thai-ness (historic palaces and the like).
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