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The value of Spanish coastal properties, home to thousands of British expatriates, are heading for freefall, figures suggest

A further nail has been hammered into the coffin of the Spanish property boom as figures revealed a one-third fall in house sales and analysts predicted a slump in prices.

The statistics ... more »

Permanent Link | Cosmos

Saturday, July 26

Rich look abroad for buy-to-let loans

by bewarethesharks on Sat 26 Jul 2008 13:16 BST

Wealthy buy-to-let property investors are bypassing mainstream UK lenders to take advantage of the more favourable terms provided by some foreign banks.

Mortgage brokers said property buyers were preparing to re-enter the housing market as they felt prices did not have too much further to fall. But investors looking for ... more »

Permanent Link | Cosmos

Monday, June 23

Property Investors Unfazed By the Credit Crunch & Still Buying Property Abroad

by bewarethesharks on Mon 23 Jun 2008 09:15 BST

Experienced investors aren’t fazed by the credit crunch and still intend to buy property, especially in foreign markets, the Jet-to-Let Magazine Annual Conference survey has revealed.

The Jet-to-Let Magazine 2008 Annual Conference recently took place at The Hilton Metropole in London. The conference was attended by a wide range ... more »

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Tuesday, June 3

Mortgages: Nationwide raises rates

by bewarethesharks on Tue 03 Jun 2008 16:39 BST

Nationwide building society announced today it was increasing the cost of its fixed-rate mortgages by up to 0.3%.

The changes, which come into force tomorrow, wipe out some of the rate reductions made by the lender last month.

The group is increasing the rate of its best two-year fixed-rate mortgage ... more »

Permanent Link | Cosmos

Saturday, May 31

Credit crunch sees global property prices tumbling

by bewarethesharks on Sat 31 May 2008 18:08 BST

From Dublin to Tokyo, house prices have slumped in the past year as the credit crunch has restricted lending and stunted growth in the biggest economies, new figures have shown.

The world's three biggest financial powerhouses, the US, Japan and Germany, have all experienced negative or zero growth in ... more »

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Saturday, May 24

Why first-time buyers should head overseas

by bewarethesharks on Sat 24 May 2008 16:35 BST

Trying to get on the property ladder? It pays to look abroad

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Having a property abroad strikes many of us as a great lifestyle opportunity, but a growing number of UK first-time buyers looking overseas are more interested in sidestepping Britain's challenging property market than the ... more »

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Monday, May 19

Top 10 Property Investment Countries for 2008 Revealed in Jet-to-Let Survey

by bewarethesharks on Mon 19 May 2008 09:31 BST

The top 10 countries of most interest to foreign property investors in 2008 have been revealed in a survey conducted by property investment magazine, Jet-to-Let.

In order to provide an up-to-date snapshot of investor intentions in 2008, Jet-to-Let magazine surveyed 1000 new readers who recently subscribed to their free quarterly ... more »

Permanent Link | Cosmos

Friday, March 21

Tempers cool but markets remain icy

by bewarethesharks on Fri 21 Mar 2008 14:33 GMT

It was billed as a showdown between the heads of Britain's biggest retail banks and the Bank of England. In private, the executives had been talking it up all week. The Bank should be more like the US Federal Reserve, they argued: pour money into the banking system, lend for ... more »

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Monday, March 3

Sizzling Sicily ‘taking off’

by bewarethesharks on Mon 03 Mar 2008 17:19 GMT

The property industry on the island of Sicily has been given a huge boost with news that a new airport currently being developed will be completed and ready for traffic in spring 2008.

Comiso Airport is being rebuilt on the grounds of a disused World War II military airbase ... more »

Permanent Link | Cosmos

Wednesday, February 27

Dollar falls to record euro low

by bewarethesharks on Wed 27 Feb 2008 16:42 GMT

The dollar has fallen to a record low against the euro as traders bet that further interest rate cuts will be needed to stem a US recession. The euro rose to $1.509 after buying $1.50 on Tuesday for the first time. Sterling climbed against the greenback too, reaching almost $2. ... more »

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Tuesday, February 26

More gloom for the US housing market

by bewarethesharks on Tue 26 Feb 2008 16:43 GMT

Prices of existing single-family homes in the US have slumped at the fastest rate in more than 20 years, while bank repossessions have almost doubled.

Home prices fell 8.9% in the fourth quarter from a year ago, the largest decline in the two-decade history of the S&P/Case-Schiller index of ... more »

Permanent Link | Cosmos

Thursday, February 21

US Fed slashes growth forecasts

by bewarethesharks on Thu 21 Feb 2008 17:25 GMT

The US Federal Reserve has slashed its growth forecast for the US economy and raised its forecast for unemployment. The Fed cut its growth forecast for this year by half a percent to a new range of between 1.3% and 2%.

The US central bank also said the jobless ... more »

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Tuesday, February 12

US economy 'will avoid recession'

by bewarethesharks on Tue 12 Feb 2008 15:38 GMT

The US economy will grow in 2008 at a similar pace to last year, the White House has said, shrugging off concerns that it is facing a recession. The country will see growth of about 2.7% despite the housing slump and credit crunch, the annual Economic Report Of The President ... more »

Permanent Link | Cosmos

Friday, February 8

New German mortgage products for self employed buyers

by bewarethesharks on Fri 08 Feb 2008 17:05 GMT

Spanish-based mortgage broker Capital Financial Partners (CFP) is offering agents with access to self-employed buyers a range of new mortgage products for investing in German property.

The 100% interest only mortgage is set at an interest rate of under 6% for a 12 year period. The 40% deposit required ... more »

Permanent Link | Cosmos

Thursday, January 24

Trichet talks down rate cut hopes

by bewarethesharks on Thu 24 Jan 2008 15:57 GMT

European Central Bank (ECB) chief Jean-Claude Trichet has talked down the chances of a European rate cut.

The US central bank cut interest rates to 3.5% from 4.25% on Tuesday to stave off a recession, and some analysts had hoped that the ECB would follow suit.

However, in a ... more »

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Thursday, January 10

Eurozone rates kept at 4% by ECB

by bewarethesharks on Thu 10 Jan 2008 15:39 GMT

The European Central Bank (ECB) has left interest rates unchanged at 4%.

High oil prices and an increase in the cost of food have buoyed inflation in the eurozone at a time when economic growth is seen slowing.

The ECB has said inflation remains a problem, noting that December's ... more »

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Monday, January 7

Action urged over US economy woes

by bewarethesharks on Mon 07 Jan 2008 16:59 GMT

Top economists have warned that a US recession looks increasingly likely and have urged government action.

Former US Treasury Secretary Lawrence Summers, called for a $75bn (£38bn) package to help stimulate the economy.

And National Bureau of Economic Research president, Martin Feldstein said that the chances of a ... more »

Permanent Link | Cosmos

Tuesday, December 18

Confidence in US housing market spirals lower

by bewarethesharks on Tue 18 Dec 2007 12:30 GMT

Permits for new home builds in the US tumbled to a 14-year low last month, official data showed today, as confidence in the weakening US housing market spiralled lower.

The number of home building projects that were started in November also took a big hit, in yet another sign ... more »

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ECB pumps in extra €170bn

by bewarethesharks on Tue 18 Dec 2007 12:27 GMT

Emergency help for financial markets has entered new territory with the European Central Bank pumping-in almost €170bn extra liquidity at below market interest rates in a special operation to head off a year-end liquidity crisis.

The surprise move, which followed last week’s co-ordinated barrage of measures by the world’s ... more »

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Wednesday, November 21

Dollar hit by fresh weakness

by bewarethesharks on Wed 21 Nov 2007 10:39 GMT

The dollar fell to a twelve-year low against the Swiss franc and lost ground against the yen on Monday as fears over the health of the US economy continued to undermine the currency.

Analysts said weak US data on Friday had helped to cement expectations of further interest rate ... more »

Permanent Link | Cosmos

Tuesday, October 9

ECB chief says eurozone may suffer from banking fallout

by bewarethesharks on Tue 09 Oct 2007 09:36 BST

Europe’s fledgling economic revival could suffer in the coming months as credit conditions among banks are set to tighten, the eurozone’s top central banker said yesterday.

Jean-Claude Trichet, President of the European Central Bank, said that growth in the eurozone could turn out to be worse than expected ... more »

Permanent Link | Cosmos

Friday, September 7

Property in Hungary

by bewarethesharks on Fri 07 Sep 2007 15:26 BST

When Soviet tanks rumbled through the streets of Budapest in 1956 to crush an anti-communist revolt, who'd have thought that Hungary would, under Prime Minister Janos Kadar, become one of the most liberal of the Eastern bloc nations? A range of policies enacted under Kadar’s leadership from 1956 to 1988 ... more »

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Monday, September 3

UK property price growth second only to Spain

by bewarethesharks on Mon 03 Sep 2007 16:17 BST

UK house price inflation has outpaced all other EU countries apart from Spain over the last five years, Halifax research has shown.

Property in Britain is now 90 percent more expensive than it was in 2001, behind only Spain on 100 percent said the study. Across the EU, property prices ... more »

Permanent Link | Cosmos

Friday, August 24

Asian subprime fears grow, Europe calmer

by bewarethesharks on Fri 24 Aug 2007 11:27 BST

LONDON/SINGAPORE (Reuters) - Three Asian banks' heavy exposure to the limping U.S. home loan sector reinforced global credit jitters on Friday but Germany and Italy saw no signs of new problems.

Shares in Singapore's DBS Group Holdings, state-controlled Bank of China and its Hong Kong subsidiary, BOC Hong Kong, all ... more »

Permanent Link | Cosmos

Tuesday, August 14

Euro area GDP up by 0.3% for Q2 2007

by bewarethesharks on Tue 14 Aug 2007 17:26 BST

According to an estimate release by Eurostat, the Statistical Office of the European Communities, GDP grew by 0.3% in the euro area during the second quarter of 2007. GDP grew in the EU27 countries by 0.5% for the same period.

In the first quarter of 2007, growth rates were ... more »

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Friday, July 20

Annual Property Investment Conference to be held in London

by bewarethesharks on Fri 20 Jul 2007 13:23 BST

Jet to Let Magazine’s Annual Property Investment Conference will be held on Saturday 8th September 2007, at The Hilton London Metropole.

Attendance to the inaugural conference is open to anyone, and is aimed at investors wanting to take advantage of the strong returns available from well-targeted overseas property investments. ... more »

Permanent Link | Cosmos

Friday, July 13

Bank of Japan votes against interest rate rise

by bewarethesharks on Fri 13 Jul 2007 08:29 BST

The Bank of Japan on Thursday voted 8-1 to leave interest rates unchanged.

Analysts were divided as to whether the vote meant the bank was less likely to lift rates to 0.75 per cent at its next meeting in August. Bond and currency markets barely budged after the meeting while ... more »

Permanent Link | Cosmos

Thursday, July 12

The iron currency

by bewarethesharks on Thu 12 Jul 2007 09:51 BST

Sterling yesterday hit a new high against the dollar of $2.03, having managed for two weeks to stay above $2 - a level it had breached for the first time since 1981. The recent rise, though eye-catching, is small in the context of the pound's vigour over the past decade, ... more »

Permanent Link | Cosmos

Wednesday, July 11

Britons 'clueless' on overseas property laws

by bewarethesharks on Wed 11 Jul 2007 17:07 BST

Britons considering buying a second home abroad are largely oblivious of the local housing laws that would affect them, a survey has shown.

New research claims that 51% of 35 to 44-year-olds would not consider local planning regulations when in the market for an overseas property.

Foreign Currency Direct, which ... more »

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Monday, July 9

Migration of money to projects overseas

by bewarethesharks on Mon 09 Jul 2007 09:27 BST

Investors who feel the UK property market is running out of steam can tap into an increasing number of overseas funds, which are springing up to offer exposure to property markets as diverse as Vietnam and Cambodia, Macedonia and Malta.

The last two years have seen around £7bn of equity ... more »

Permanent Link | Cosmos

Monday, June 18

Prospects for eurozone growth become brighter Economic Outlook

by bewarethesharks on Mon 18 Jun 2007 12:28 BST

Business sentiment in Germany remains high in spite of the increase in value added tax in January and rising eurozone interest rates.

Prospects for economic growth this year in Germany and the rest of the eurozone are improving and will be reflected in continuing strength in both the ZEW survey, ... more »

Permanent Link | Cosmos