Steady property values can be found in portugal

Investors considering buying property abroad might wish to consider a purchase in Portugal where values are relatively steady, it has been claimed.

According to Nick Barnes, a partner in residential research at real estate firm Knight Barnes, the overall value of real estate in the Iberian nations has risen by between three and four per cent annually for six years.

He told the New York Times that the country has never offered particularly high growth with regards to values.

This was attributed to the limited number of overseas investors buying property in Portugal and the "relative lack of wealth" in the country.

However, he commented: "It's slow, steady stuff, which is arguably more sustainable."

The expert claimed that buyers of property abroad in Portugal could expect to pay an average of €1,180 (£1,020) per sq m.

Mr Barnes explained that there has not been a major property boom in Portugal of the kind seen in Spain.

However, this has meant that the country's real estate market has been not experienced the huge bust that hit the sector in the neighbouring nation.

Portugal's stability was also highlighted recently by the Guardian, which cited figures from Global Property Guide indicating that in the Algarve there was only a decline in prices of 4.4 per cent in the year up to September 2008.

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French property prices drop two per cent

The cost of buying property in France has only fallen by about two per cent, according to recent figures.

Data released by Century 21, the country's largest network of estate agents, revealed that over the 20,500 transactions in the last six months, there was only an average decline in prices of 2.12 per cent compared to the same period the year before.

While the number of transactions in the second half of 2008 fell by more than one-quarter, during the first six months of 2009, the number of purchases rose by 23 per cent, reports French Property News.

Laurent Vimont, president of Century 21, attributed the renewed activity in the sector to the low interest rates available in the country, claiming they had "breathed new life into the market".

The findings are consistent with the trends identified by the Federation Nationale de l'Immoblilier (FNAIM), which said prices in the country are remaining relatively steady despite the economic downturn.

This could be encouraging news for those considering buying property in France in the near future as their purchases are unlikely to depreciate significantly in value.

According to the FNAIM, there is likely to be a "soft landing" rather than a massive crash in the French property market.

Homes Overseas recently claimed that the resilience of France's residential property market is due to the long-term lending policies in the country.

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Places to visit in Lyon

Visitors to the Rhone Alpes region will find plenty to do in Lyon, the second largest metropolitan area in France after the capital.

The old town is a United Nations Educational, Scientific and Cultural Organisation World Heritage site and features magical courtyards and alleyways as well as stunning monuments.

Those who buy property in the city will be able to explore the numerous restaurants in the town, of which there are more than 1,500, according to France Guide.

Architecturally, the city is beautiful with some fantastic old buildings throughout - about 300 of which are illuminated each night.

Those who visit the city should make sure they do not miss out on a trip to the Maison de la Danse, where the finest choreographic arts are on display.

Some 400 dance companies - ranging from modern to classical - have performed at the venue over the last 15 years, according to 10best.com.

While checking out the cultural richness of the town, those who own property in Lyon might wish to visit the National Opera House of Lyon, which seats 1,200 people.

Those who need greenery and plantlife will not be short of places to visit in the city.

The Jardin des Plantes is a popular destination for horticulturalists, with its greenhouses and exotic plants, while the Jardin du Rosaire is ideal for a leisurely evening stroll through beautiful surroundings.

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Activities and places to visit in Palma

Holidaymakers and those who buy property in Palma will find they are rarely at a loose end in the Majorcan capital.

With fantastic tapas, fascinating monuments, ancient architecture, stunning weather and a vibrant nightlife, the city is a perfect location for a visit or long-term stay.

At some point, those staying in Palma must indulge in a trip to Abaco, a restaurant described by the World Travel Guide as "gloriously over-the-top".

It is set in the courtyard of a 17th-century palace and diners eat by candlight to the sounds of tropical birds in the nearby gardens and the scent of massive bouquets of fresh flowers.

Those looking for a less extravagant activity might wish to wander through the older part of the town, which is filled with patios, courtyards and walkways.

Culture-lovers will relish discovering the numerous monuments, museums and art galleries that proliferate the city.

Notable among these is the Museu de Majorca - which houses many archaeological artefacts found on the island - and the Castell de Bellver, a circular castle constructed about 700 years ago.

After a day seeking out the sights of the city and an evening sampling the culinary delights of the Abaco or one of the many tapas bars, visitors to Palma might be ready to make a night of it.

The El Terreno area is one of the liveliest areas of the city, with clubs, pubs bars and discos to suit a variety of tastes.

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Prices down and demand up in Spain

The cost of property in Spain has declined but the desire to buy property in the country has risen, new data suggests.

Recent figures from real estate agents Look & Find, which has offices across the country, showed that since the start of 2008, prices have fallen by 30 per cent, reports Spanish Property Insight.

In the 12 months leading up to January 2009, prices dropped by 25 per cent on average.

This coupled with the five per cent decline this year takes the cost of property in the Iberian nation down to the levels seen during 2004, Look & Find noted.

However, as prices have fallen, the demand for property in Spain has risen.

A spokesperson for the real estate firm told the Spanish press: "Demand that has been contained for more than a year and a half is now starting to grow again."

Major metropolitan areas, such as Seville, Barcelona and Madrid were identified as areas of particular interest to buyers.

It is at these destinations "where prices per square metre had reached the highest levels and where housing affordability was the most difficult", the company claimed.This comes after Titan Properties asserted that there has been a 20 per cent decline in property prices along the western Costa de la Luz, reports Fly-2let.com.

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US Repossessions hit record levels

Repossessions in the USA have hit an all time high adding to signs that the recession in the US housing market is deepening.

In the first half of 2009 almost 1.5 million US properties were at some stage of repossession proceedings according to RealtyTrac Inc.

This figure represents a 15 percent increase on the same period in the previous year and now means that 1 in 84 US home owners have received some form of repossession order.

Speaking on the recent figures Les Calvert of the Property-Abroad.com Group who specialise in the worldwide property market said:

"There have been reports recently that the US housing market may be close to bottoming, and that may be true. However, it is impossible to get a true picture until the full depth of the repossession crisis are known, and rising repossessions will also prevent any recovery."

Property prices in some of the major US city areas had dropped by up to 18 percent in April compared to last year according to the S&P/Case-Shiller index.

The loss of another 1,000 jobs at Harley Davidson adds to the jobless figure in a recession that has already left almost 6.5 million Americans out of work.

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Fractional Ownership a Winner

The current financial turmoil of the overseas property market has been fairly evident in the downturn of overseas property sales of late.

This resulting downturn has forced property developers to look at other ways and methods of selling their properties including fractional ownership.

Commenting on the subject Les Calvert of the Property-Abroad.com group said,

"the growing market of fractional ownership should not be confused or even compared to timeshare, fractional ownership is fast becoming popular with overseas buyers who are looking to share the risk and cost of owning an overseas property".

Fractional Ownership is different to Timeshare in that you actually own part of the deeds of the property and not just an allotted time period. In addition the resale value of fractional properties will grow with the value of of the property whereas timeshares tend to decrease.

Fractional properties can be split anyway to suit buyers who very often are a group of family, friends or indeed investors.

Prices for fractional ownership can vary depending on the development and the number of fractional buyers.

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Top 10 overseas property destinations in June

The results are in for the Property Abroad.com monthly look at the most popular choices of those searching for property on the site in June. There are only a few changes from last month, but there is also a shocker or two in there.

The first change is America climbing one place to take number 1 spot from Spain, which is now in second. This continues the trend of America's rising popularity, on the back of the price drops American property has seen, the Pound strengthening against the dollar and reports that the American property market may be close to bottoming.

France and Greece have also swapped places, with France climbing one place to take 3rd, knocking Greece into 4th.

Cyprus fell back 2 places into 7th place, moving Turkey and Italy both up one place to take 5th and 6th respectively from 6th and 7th behind Cyprus last month.

Portugal remained 8th most popular in June as it had been in May, but 9th and 10th changed majorly. Egypt and Canada, which had only entered the top 10 last month in 9th and 10th place, have gone again to be replaced by Bulgaria and India.

Bulgaria isn't such a shock it comes and goes from the top 10, having lost some of the popularity it regained at the beginning of the year, it seems to be clawing it back a little once again. India however is a new one on the top 10, which is a resounding signal that all is not lost in terms of faith in emerging marker property investment.

The full results of the top 10 most popular in June were as follows:

America
Spain
France
Greece
Turkey
Italy
Cyprus
Portugal
Bulgaria
India

Compared to last month:

Spain
America
Greece
France
Cyprus
Turkey
Italy
Portugal
Egypt
Canada

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