Tag Archives: stumbleupon
UAE property prices and rental values dip
The residential property market in Dubai saw a minor downturn in February with prices and rents falling slightly but still up year on year. There is some variation between apartments and villas with apartment prices falling 1.86% month on month but still up 6.7% compared to a year ago, according to the latest index from REIDIN. Meanwhile villa prices were up slightly by 1.68% month on month and are up 6.2% year on year, the data also shows. Overall the REIDIN Dubai sales price index for all residential properties decreased by 1.18% but it still up 6.6% on a year ago. Residential rents also fell, down 0.76% month on month but this sector is still some 7.7% up on a year ago. Apartment rental prices fell 0.98% but are 8.8% up year on year and villa rental prices were up 0.08% month on month and 2% year on year. There was a similar pattern in neighbouring Abu Dhabi. Prices overall were down 0.83% in February 2015 but up 1.3% year on year. Apartment prices fell 0.89% and are just 0.1% above a year ago while villa prices fell 0.75% compared to the previous month and are up 1.1% year on year. Rents in Abu Dhabi fell 1.04% in February but are up 2.2% year on year. Apartment rents increased 0.45% month on month and 4% year on year while villa rents fell by 2.32% compared to the previous month and were up 6.5% year on year. Continue reading
New home sales in Australia reach new peak
Total seasonally adjusted new home sales increased by 1.1% in Australia in February following a gain of 1.8% in January, according to the latest data. It means that sales volumes are now just above the previous peak of April 2014 and a breakdown of the figures show that apartments are selling more than detached homes with flat sales up 11.1% and houses down 1.3%. But there are considerable regional variations. Detached house sales are easing in New South Wales and Western Australia, previously key drivers of growth, and have fallen significantly in South Australia. According to Harley Dale, chief economist of the Housing Industry Association (HIA), the modest growth in new house sales in Queensland and Victoria is not enough to offset these declines. The data shows that in February detached house sales increased by 1.5% in Victoria and by 0.2% in Queensland. Detached house sales fell 4.8% in New South Wales, 2% in South Australia and 2.9% in Western Australia. The level of sales in the three months to February 2015 compared with the previous three months was down 6.9% in New South Wales, down 2.8% in South Australia, and down 1.3% in Western Australia. Sales increased by 3.8% in Victoria and by 9% in Queensland. ‘This is another very strong result for Australia’s national new home building sector. In January, new dwelling approvals reached their highest level on record and now in February that activity remains at exceptionally high levels, with a solid pipeline of activity set to remain in play over the coming months,’ said HIA senior economist, Shane Garrett. Data also shows that new home approvals in February were 3.2% lower than the previous month but still recorded their second highest level since figures began 32 years ago. Detached house approvals inched up by 0.2% while there was a 6.6% fall in multi-unit approvals and according to Garrett at a time of weak overall domestic demand, new residential construction is acting as a welcome pillar of support. ‘A steady pipeline of new homes represents the most effective solution to alleviating housing affordability pressures. Governments at all levels must work to ensure supply constraints do not impede the continuation of elevated levels of new home construction,’ he explained. A breakdown of the figures shows that new home approvals increased most strongly in Victoria with a rise of 20.5%, followed by New South Wales up 13.5%, and Tasmania up 4%. But they fell by 8% in Western Australia, were down by 30.6% in Queensland and by 41.4% in South Australia. Garrett said that action to turn around new home building conditions in South Australia are urgently required. New home approvals declined in trend terms in both the Northern Territory with a fall of 2.7% and the Australian Capital Territory with a decline of 16.2%. Continue reading
Older second home buyers attracted by mountainside property in Turkey
Mountainside villages within a short drive of the beach but away from the hustle and bustle are emerging as popular spots for second homes in Turkey, it is claimed. Older foreign buyers in particular are opting for areas away from busier coastal resorts and increasingly looking inland, according to Spot Blue International Property. ‘Turkey has built a name for itself as a quality beach resort destination. However, buyers searching for more peaceful, scenic surroundings are heading a few miles inland, where they can choose between a house or plot with permission to build. Once a few foreign people have homes in these spots, more like minded buyers follow,’ said the firm’s director Julian Walker. He pointed out that the village of Beycik near Kemer in Antalya province has attracted a small group of international home owners who are attracted by it its tranquil setting 700 metres up the pine clad foothills of Mount Olympos within a national park. The village is home to Beykent Villas, a small development of predominantly semi-detached villas set around a large pool and boasting sea, mountain and forest views. More than half of the owners at Beykent Villas are Turkish, with the remainder being English, Scottish, Irish, Welsh, German and Russian. One couple who have owned a two-bedroom villa there since 2007, after buying through Spot Blue International Property, are Danuta and Jan Stanczyk from Buckinghamshire. ‘We knew the area from family holidays and find the coastline around Kemer where the mountains run down to the sea stunning. We were looking for a place near the coast but not on it, as we prefer calm, natural surroundings, and Beykent Villas offered exactly what we were looking for, as well as great value for money,’ said Danuta. ‘It’s also less humid than down by the sea, which helps you to stay cool in the summer months, and you can smell the pine trees. Eight years later we have befriended other British owners, some of whom are resident there all year,’ added Danuta. The Stanczyks’ semi-detached villa includes balconies facing the sea, a large basement room that could be a third bedroom and a small terraced garden. There are also communal garden areas which, like the pool, are maintained to a high standard by a management firm. The centre of Beycik is within walking distance, where there are two stores, and a handful of restaurants and bars. However, for a better choice of amenities, the small resort of Tekirova is a 15 minute drive and the larger town of Kemer is 30 minutes away. ‘We usually go out to Beycik twice a year, in the spring and autumn, when we spend a lot of time by the pool. We do go to the beach too and one of our favourites is Adrasan, but closer ones include Tekirova, Phaselis and Cirali, from where you can also visit the ruins of Olympos and the amazing eternal fires of Chimaera. And we enjoy… Continue reading
