La Promenade Anglais, St Louis, Senegal, West Africa
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La Promenade Anglais, St Louis, Senegal, West Africa Gambia Holiday News
Monday, 5 October 2009
Commercial Investment Property Overseas: London Property Investment; London Rental Property Market Remains Bouyant
European Property Market
RICS has launched the 2009 version of the European Housing Review with an event at the National Liberal Club in London. The Review is now in its eleventh year and draws together what is happening in residential property markets across Europe. It paints a gloomy picture of Europe’s housing market in 2008 and key points include:
• House prices are static or falling across Europe
• The chances of core European housing markets escaping marked downturns in 2009 are now slim
• House prices in 2008 fell significantly in 2008 in central and eastern Europe, Ireland, France, the UK and amongst Nordic countries
• Markets are experiencing rapid falling demand due to the impact of the credit crunch and recession in major economies
• New build markets in the major cities of central and Eastern Europe are at a standstill with a rising tide of unsold properties.
What can we do to address these problems? RICS is calling for action from Governments to increase the supply of mortgage lending. There must be more Government guarantees for mortgage backed securities, as recommended by the Crosby Review in the UK. Banks that have been nationalised or have greater levels of state control in the UK, Ireland, Germany and the Netherlands must also be used to provide a sensible increase in access to credit.
Other steps can also be taken including the establishment of Government supported savings schemes for first time buyers where buyers are encouraged to save a deposit which is topped up by a Government contribution. There must also be a greater use of shared equity and rent to buy schemes.
RICS published a 15 point plan in September 2008 outlining key measures we believe will help the residential property market.
Hopefully if action can be taken by Governments across Europe, the 2010 European Housing Review will start to show some signs of recovery.
http://www.rics.org/ASPNetForums/blogs/padefaultaspx/archive/2009/03/05/gloomy-housing-markets-across-europe.aspx
• House prices are static or falling across Europe
• The chances of core European housing markets escaping marked downturns in 2009 are now slim
• House prices in 2008 fell significantly in 2008 in central and eastern Europe, Ireland, France, the UK and amongst Nordic countries
• Markets are experiencing rapid falling demand due to the impact of the credit crunch and recession in major economies
• New build markets in the major cities of central and Eastern Europe are at a standstill with a rising tide of unsold properties.
What can we do to address these problems? RICS is calling for action from Governments to increase the supply of mortgage lending. There must be more Government guarantees for mortgage backed securities, as recommended by the Crosby Review in the UK. Banks that have been nationalised or have greater levels of state control in the UK, Ireland, Germany and the Netherlands must also be used to provide a sensible increase in access to credit.
Other steps can also be taken including the establishment of Government supported savings schemes for first time buyers where buyers are encouraged to save a deposit which is topped up by a Government contribution. There must also be a greater use of shared equity and rent to buy schemes.
RICS published a 15 point plan in September 2008 outlining key measures we believe will help the residential property market.
Hopefully if action can be taken by Governments across Europe, the 2010 European Housing Review will start to show some signs of recovery.
http://www.rics.org/ASPNetForums/blogs/padefaultaspx/archive/2009/03/05/gloomy-housing-markets-across-europe.aspx
Thursday, 1 October 2009
Munich overtakes London as top European property destination
Munich, followed by Paris, have emerged as the two most attractive European cities for property investment for commercial real estate owners and investors on a medium term outlook, as per LaSalle Investment Management’s eleventh.
European Regional Economic Growth Index, according to a report in the Financial Times.
While London’s size and wealth kept it in the top 10, it was knocked from the top spot for the first time since 2005 - underlining the city’s exposure to the financial downturn relative to rival business hubs.
http://www.wealth-bulletin.com/portfolio/content/1055268273/
European Regional Economic Growth Index, according to a report in the Financial Times.
While London’s size and wealth kept it in the top 10, it was knocked from the top spot for the first time since 2005 - underlining the city’s exposure to the financial downturn relative to rival business hubs.
http://www.wealth-bulletin.com/portfolio/content/1055268273/
Thursday, 2 July 2009
Caymen Island Investment Property
Little Cayman
In little Cayman raw land has been the big seller so far this year. It appears more and more people are seeing the appeal and value of owning a piece of this tranquil paradise.
There are a number of houses currently under construction and the local builders are getting new projects started as soon as one is finished. Prices are still relatively low compared to other destinations but people are beginning to realize that this will not last forever.
Cayman Brac
Raw land has also been the top seller in Cayman Brac this year with incentives of having the stamp duty waived if you build within 2 years of purchase, and not adding taxes on building supplies. With direct flights from Miami later in the year - Now is the time to buy before this mostly undiscovered gem of an island becomes better known.
Overall
Prices are increasing for land purchasers. We are seeing prices rise as much as 10 % from this time last year. Little Cayman is growing in popularity and word is spreading about this relatively untouched paradise. Cayman Brac land prices have also increased dramatically, A quote from Coldwell Banker "The Cayman Brac has been experiencing an upswing.. interest in bluff land - house lots and acreage has soared".
With all the money the Cayman islands Government are putting into the sister islands, I.E modern infrastructure, international airports to increase tourism, direct flights from Miami, new Hotel's, bars, restaurants and villas getting built everywhere, to accommodate all the recent activity, this has to be and is the worlds most exclusive Caribbean emerging market.
In little Cayman raw land has been the big seller so far this year. It appears more and more people are seeing the appeal and value of owning a piece of this tranquil paradise.
There are a number of houses currently under construction and the local builders are getting new projects started as soon as one is finished. Prices are still relatively low compared to other destinations but people are beginning to realize that this will not last forever.
Cayman Brac
Raw land has also been the top seller in Cayman Brac this year with incentives of having the stamp duty waived if you build within 2 years of purchase, and not adding taxes on building supplies. With direct flights from Miami later in the year - Now is the time to buy before this mostly undiscovered gem of an island becomes better known.
Overall
Prices are increasing for land purchasers. We are seeing prices rise as much as 10 % from this time last year. Little Cayman is growing in popularity and word is spreading about this relatively untouched paradise. Cayman Brac land prices have also increased dramatically, A quote from Coldwell Banker "The Cayman Brac has been experiencing an upswing.. interest in bluff land - house lots and acreage has soared".
With all the money the Cayman islands Government are putting into the sister islands, I.E modern infrastructure, international airports to increase tourism, direct flights from Miami, new Hotel's, bars, restaurants and villas getting built everywhere, to accommodate all the recent activity, this has to be and is the worlds most exclusive Caribbean emerging market.
Wednesday, 24 June 2009
Flexible Property Investment?
If the idea of owning a luxury asset to use occasionally appeals or if your budget does not stretch the whole way, fractional ownership may be for you. For a fraction of the price of the whole, you can own part of the asset. For many, this investment vehicle offers the gateway to investment in luxury (including property investment), allowing those without seven-figure bank balances to enjoy high-end assets.
Flexible freehold ownership, also known as fractional or collective ownership, has been a popular concept in the US for many years because it offers an innovative alternative to investors. Not surprisingly, the idea is fast catching on in the rest of world.
Flexible or fractional ownership involves buying part of an asset (usually luxury) – for example, property, private jets and cruisers, racehorses or even a vineyard – for a small part of the cost of the whole asset. Investors purchase a part and can sell, donate or bequest this at any time. Since investors are direct owners of the asset, they also benefit from increases in the value of the asset should they decide to sell it.
Although fractional ownership is sometimes confused with timeshare, it is radically different. Investors in flexible ownership directly own a part of the asset. Participants in a timeshare scheme do not own any part of the asset – just the right to use it at an allocated time – nor do they benefit from any increase in the asset’s value. Timeshare is a cost, not an asset.
Another fundamental difference between timeshare and fractional ownership is that no financing options are available for timeshare. On the other hand, many banks and financial entities will provide loans for purchases of fractional ownership. Since fractional ownership is an asset owned for perpetuity and is ‘sellable, giveable and willable’, it is no different from outright ownership.NUBRICKS
Flexible freehold ownership, also known as fractional or collective ownership, has been a popular concept in the US for many years because it offers an innovative alternative to investors. Not surprisingly, the idea is fast catching on in the rest of world.
Flexible or fractional ownership involves buying part of an asset (usually luxury) – for example, property, private jets and cruisers, racehorses or even a vineyard – for a small part of the cost of the whole asset. Investors purchase a part and can sell, donate or bequest this at any time. Since investors are direct owners of the asset, they also benefit from increases in the value of the asset should they decide to sell it.
Although fractional ownership is sometimes confused with timeshare, it is radically different. Investors in flexible ownership directly own a part of the asset. Participants in a timeshare scheme do not own any part of the asset – just the right to use it at an allocated time – nor do they benefit from any increase in the asset’s value. Timeshare is a cost, not an asset.
Another fundamental difference between timeshare and fractional ownership is that no financing options are available for timeshare. On the other hand, many banks and financial entities will provide loans for purchases of fractional ownership. Since fractional ownership is an asset owned for perpetuity and is ‘sellable, giveable and willable’, it is no different from outright ownership.NUBRICKS
Friday, 12 June 2009
Friday, 24 April 2009
UK Pubs Provide the Best Investment Deals: Unviable Pub buildings provide the best Pound Per Sq Foot on The Market
UK Pubs For Sale
As the UK is the new overseas property investment destination it seems right to comment on the best commercial investment property available;
Pubs and hotels are now prime targets for the savvy property investor as buying a pub is likely to work out cheaper on a pounds per sq ft basis than buying a house in the same street.
The UK licensed property market is being flooded with cheap empty pub and hotel sites as a combination of cheap beer in supermarkets, rising costs and the smoking ban have taken their toll on the pub trade.The coming months may see the acceleration of the pace of pub closures as pub landlords, breweries and pub companies have had to face up to the pressures of the credit crunch.
The British Beer & Pub Association estimates that four pubs are shutting down every day and that the rate of closures is 14 times faster than in 2005. There are just over 57,000 pubs in Britain today, compared with 69,000 in 1980.
Beer sales in pubs, relative to other outlets such as supermarkets, have been falling for 30 years and according to the BBPA, beer sales over the bar are at their lowest since the Great Depression.
Pub shares have suffered "extraordinary underperformance". Many have retreated 50 per cent from their 2007 highs. Several UK pub chains, embracing high-street names such as the Slug and Lettuce, Hogshead and Walkabout, have collapsed or been forced to sell.
Buying a Pub or Hotel Suitable for Redevelopment
Pubs have a flexible A4 planning 'use class' that normally can be changed to A1 use (say, for a newsagents), A2 (a delicatessen or a firm of solicitors or architects) or A3 (restaurants).
Alternatively, buyers can apply for planning permission to convert the pub or hotel into a residential property. Often pubs come with land, beer gardens or car parks that can be developed. Unless it's a village pub, where community issues come into play, planners are sympathetic to alternative uses. Pubs close because they are not successful businesses and redevelopment helps regenerate the area. In run-down areas, planners often want to keep a commercial use for the pub because this boosts local employment.
Before you buy a run down pub or hotel in need of refurbishment or redevelopment, explore different ways of achieving the best return on your property investment
Modernising a pub. A general decorative overhaul can push up the value of a run down pub or hotel without involving planners, architects and a big investment,.
Converting a pub. At its most simple you might take a large public house or hotel and turn it into flats, but this still involves complex investment budgeting and financing. There's often a large gap between the value of a pub and what it might fetch if redeveloped or converted to offices, shops or flats - but there are also a lot of costs involved, and often a lot of pitfalls. Sometimes it's more profitable to convert the pub into a single house. Planning consent will normally be required in both scenarios. Many Victorian pubs are listed, which can complicate conversion projects.
Change of use as a pub. The conversion of a building from one of business use into housing is a more complex proposition. For example, when converting a pub or hotel into flats, the big, initial risk is trying to buy the property without first applying for planning consent for 'change of use'. You should never buy an investmnet property on the assumption that 'change of use' is possible without serious research into the planning issues and a detailed conversation with local planning officers. Many hotel and pub sales like this are achieved only when they are 'subject to planning', that is, the deal will only be completed, and the full purchase price paid, when planning permission is granted. It is more likely that planning restrictions will be less stringent on a city pub than on a country pub.
As the UK is the new overseas property investment destination it seems right to comment on the best commercial investment property available;
Pubs and hotels are now prime targets for the savvy property investor as buying a pub is likely to work out cheaper on a pounds per sq ft basis than buying a house in the same street.
The UK licensed property market is being flooded with cheap empty pub and hotel sites as a combination of cheap beer in supermarkets, rising costs and the smoking ban have taken their toll on the pub trade.The coming months may see the acceleration of the pace of pub closures as pub landlords, breweries and pub companies have had to face up to the pressures of the credit crunch.
The British Beer & Pub Association estimates that four pubs are shutting down every day and that the rate of closures is 14 times faster than in 2005. There are just over 57,000 pubs in Britain today, compared with 69,000 in 1980.
Beer sales in pubs, relative to other outlets such as supermarkets, have been falling for 30 years and according to the BBPA, beer sales over the bar are at their lowest since the Great Depression.
Pub shares have suffered "extraordinary underperformance". Many have retreated 50 per cent from their 2007 highs. Several UK pub chains, embracing high-street names such as the Slug and Lettuce, Hogshead and Walkabout, have collapsed or been forced to sell.
Buying a Pub or Hotel Suitable for Redevelopment
Pubs have a flexible A4 planning 'use class' that normally can be changed to A1 use (say, for a newsagents), A2 (a delicatessen or a firm of solicitors or architects) or A3 (restaurants).
Alternatively, buyers can apply for planning permission to convert the pub or hotel into a residential property. Often pubs come with land, beer gardens or car parks that can be developed. Unless it's a village pub, where community issues come into play, planners are sympathetic to alternative uses. Pubs close because they are not successful businesses and redevelopment helps regenerate the area. In run-down areas, planners often want to keep a commercial use for the pub because this boosts local employment.
Before you buy a run down pub or hotel in need of refurbishment or redevelopment, explore different ways of achieving the best return on your property investment
Modernising a pub. A general decorative overhaul can push up the value of a run down pub or hotel without involving planners, architects and a big investment,.
Converting a pub. At its most simple you might take a large public house or hotel and turn it into flats, but this still involves complex investment budgeting and financing. There's often a large gap between the value of a pub and what it might fetch if redeveloped or converted to offices, shops or flats - but there are also a lot of costs involved, and often a lot of pitfalls. Sometimes it's more profitable to convert the pub into a single house. Planning consent will normally be required in both scenarios. Many Victorian pubs are listed, which can complicate conversion projects.
Change of use as a pub. The conversion of a building from one of business use into housing is a more complex proposition. For example, when converting a pub or hotel into flats, the big, initial risk is trying to buy the property without first applying for planning consent for 'change of use'. You should never buy an investmnet property on the assumption that 'change of use' is possible without serious research into the planning issues and a detailed conversation with local planning officers. Many hotel and pub sales like this are achieved only when they are 'subject to planning', that is, the deal will only be completed, and the full purchase price paid, when planning permission is granted. It is more likely that planning restrictions will be less stringent on a city pub than on a country pub.
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