business / International Real Estate
New Hanoi Luxury Development LaunchedIndochina Land recently held a ground-breaking ceremony for its new office and luxury housing development in Hanoi. The US $150 million project covers some 16,600 square meters in Cau Giay District and is scheduled for completion in 2010. This will be one of the premier properties in Vietnam when completed.
homesgofast.com Tuesday, December 30, 2008Phuket Condo Prices Doubled from 2005The latest research report from Philippines property company Raimon Land indicates that the average price for a condominium in Phuket is now Bt101,203 per square meter. That is essentially double the price per square meter in 2005, a staggering increase in value in the past several years.
homesgofast.com Tuesday, December 30, 2008US Existing Home Sales PlummetThe number of existing homes sold in the United States dropped considerably in November as prices also dropped. The National Association of Realtors indicated in its most recent report that home sales drop to an annualized rate of 4.49 million units in November, down from 4.98 million homes in October. That is well below the predicted rate of 4.93 million units that industry analysts were looking for.
homesgofast.com Tuesday, December 30, 2008China Cuts Interest RatesChina cuts interest rates for the fifth time since mid-September, but the cuts were smaller than many analysts had expected. The Peoples Bank of China cut the one-year lending rate to 5.31 percent and the deposit rate to 2.25 percent, which was just a 27 basis point drop. The last cut in November was 1.08 percent, much larger than this time.
homesgofast.com Tuesday, December 30, 2008Qatar calls for green building codeExperts attending the recently held Qatar Today Round Table agreed on the urgent need to push for a green building code. It was recommended that contractors, designers, educational and financial institutions and government bodies work towards minimising the environmental damage caused by Qatar's construction activity.
ameinfo.com Tuesday, December 30, 2008Danube reports Dhs1.1bn in sales revenuesDubai-based Danube Building Materials says it has generated Dhs1.1bn ($300m) in sales revenues during 2008, according to a press statement. This represents a 70% increase compared to 2007. Officials said they were confident in the company's ability to ride out the recession, and expected to secure a 30% rise in revenues for next year.
ameinfo.com Tuesday, December 30, 2008UK Government Help To Home OwnersThe UK government has expanded its assistance to UK home owners with an initiative aimed at ceasing repossessions. The Homeowner Mortgage Support Scheme will provide greater assurance to homeowners that they will be able to remain in their homes if they suffer a temporary fall in income.
The credit crunching scheme will provide a bridge, giving homeowners who are experiencing financial problems sufficient time to find new employment or recover income, without the added concern and stress of potentially losing their home in the interim.
The plan will allow lenders to reduce a borrowers current monthly mortgage payments, with the deferred payments rolled up, added to the principal, and paid at a later date when the borrowers financial circumstances have improved. The Government will guarantee the lender against a proportion of any loss incurred on the deferred interest payments in case the borrower defaults.
homesgofast.com Tuesday, December 30, 2008Buy To Let Landlords At RiskBuy to Let Landlords are more exposed to risk than other
uk property owners and the Association Residential Letting Agents (ARLA) predicts that 2009 will be a tough year for investor landlords. ARLA is predicting that there will be an increase in landlords defaulting on their monthly mortgage payments over the coming months, and an increased rate of repossessions as a result.
The Association of Residential Lettings Agents was formed in 1981 as the professional and regulatory body for letting agents in the UK. One of the main areas of concern for ARLA is that the the Mortgage Support Scheme recently announced by the Government will not cover buy-to-let landlords, tenants will also be at greater risk of homelessness into 2009. <
homesgofast.com Tuesday, December 30, 2008New Philippines Casino at Subic BayThe Ocean 9 Casino and Hotel Resort recently broke ground in the Subic Bay Freeport area along Waterfront Drive. This new resort and property development in the Philippines is expected to cost approximately US $120 million and will rise 15 stories above the bay.
homesgofast.com Tuesday, December 30, 2008British Land Safer Than HousesWhile
property prices in the UK and across the globe have dropped for much of 2008, agricultural land in the UK has been a good investment. According to research from Savills, agricultural land has increased in value for all of 2008 by 21.5 percent.
homesgofast.com Tuesday, December 30, 2008
Archived international real estate news stories.
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