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February 15, 2008
The greatest January Sale in the world!
I found out something quite surprising the other day, it was the annual Dubai Shopping Festival. Make a mental note to look out for this each year as during the period of the festival, which lasts for one month, every trader has to offer a 25% discount on everything! So if you are looking for a flashy watch from Rolex or Patek and Phillipe, a 4 carat Diamond from Tiffany or a even a new beach side residence from Damac Properties, you would be wise to combine your shopping with a holiday in Dubai.
Damac Properties’ utterly amazing give-away
A festival that I thought was a flashy sales gimmick offered by people with more money than sense turns out to be a real shopping bonanza in Dubai, with 25% discounts across the board. So now you can see why Damac Properties are giving away BMWs, Bentleys, a Jet and even an Island! Although their generosity isn’t required to stretch as far as they have taken it, you can see that they are obliged to offer one hell of an incentive. So, if you are in the market for a place in the sun that appreciates in value at 25% per annum with a 25% discount, you should flex you credit card - or maybe your bank account - before February 24th, when the Dubai Shopping Festival ends.
Dubai’s property price rocket
Property prices have sky-rocketed year after year in Dubai, as their total redevelopment plan takes shape, giving property investors an opportunity to invest in one of the best thought-out developments on the planet. Investors in Dubai have seen year-on-year increases in property values of between 25% and 50%. Wouldn’t you love to join them!
A investor’s dream come true
For those who like to take a profit when they see it, Dubai offers an opportunity to realize substantial capital gains within 28 days. When you buy a property in Dubai, you are required to pay a reservation fee followed by a 10% deposit within a week and a further 10% deposit before the end of the month. Once you have paid your 20% deposit you can re-sell the property and walk away with a healthy profit.
Selling off-plan property? Take advantage of our own amazing advertising discount!
If you’ve got off-plan property for sale, we have a similarly exciting offer that you really shouldn’t miss! As part of a new event which we call ‘The Off Plan Property Exchange Shopping Festival’, we are offering a £99 once in a lifetime chance to flog your jet or island.
Seriously - buy as many properties as you like worldwide, and advertise them all (actually up to 200!) on our website for re-sale for just £99. What’s more, the properties you advertise will also feature in the fish4homes property database that feeds the Channel 4 website and countless other advertising outlets.
Check out the full details of this amazing property advertising offer here!
So you’re thinking of buying property abroad, but where do you start? These ten hot tips will help you sort out your thoughts as you weigh your different options.
1. Before you start looking for a property, decide what you want to buy and why. Do you want a small apartment for city breaks, a villa close to a beach for beach holidays, a property to rent out or a property purely for investment purposes?
2. Once you’ve decided what kind of property you want to buy, try not to be swayed by estate agents. They may come up with great ideas of why you need a certain property, but do try and keep your original intentions in mind.
3. Try and buy property in areas that are popular with both tourists and the local market. If you’re going to rent out your property, this will provide more rental scope than purely relying on the tourist trade.
4. Look for areas that are located close to current hotspots. The hotspots themselves can be expensive, but the nearby areas are often more affordable, but can still cash in on the benefits of the hotspot.
5. Always visit the location you want to buy in and the actual property or development site. Although it may be tempting to put a deposit down after seeing a fantastic ad online, you need to check it first to ensure it lives up to the claims.
6. Include buying expenses in your budget from the outset. These differ considerably depending where you’re purchasing your property, but may add as much as 10% to the price you pay.
7. Use reputable real estate agents and always seek independent advice from a qualified solicitor and surveyor.
8. Bear in mind that buying off plan property is usually a considerably cheaper option. Depending on the development stage, you may also get the chance to choose fittings, so it could be a way of getting a more personalised property. Many off plan developers will have a finished pilot unit to show you even before the development is complete.
9. To make your money go further, consider purchasing your property with other family members or friends. Don’t forget to consider in advance how you’ll share the property, or whether it could accommodate everyone at once.
10. If you don’t understand something in the contract, don’t sign until you’ve got clarification. This is especially so when the contract is in a foreign language.
As summer in the southern hemisphere reaches an end, those who have spent a few weeks at the beach are likely thinking of how to get their hands on a little piece of real estate in warmer climes to call their own.
While land release shortages are locking some buyers out of centres such as Sydney, the northern neighbours in Brisbane are seeing an unprecedented level of new home construction.
Once maligned as the state where people walk so slowly their flip-flops don’t flip, tropical Queensland is truly coming into its own!
Australia’s new economic powerhouse
Property values in Brisbane have been on the rise as the city rivals Sydney and Melbourne as an economic centre. A campaign to brand Queensland as the “Smart State” has led to increased investment, with more global brands, including Virgin and Boeing, locating their Australian headquarters in Brisbane. Moreover, a strong mining sector in regional Queensland has also bolstered the standard of living.
As a result, the state now has a growth rate of 4.25 per cent - higher than the national average of around 3 per cent - complemented by a higher median household income and an unemployment figure lower than the national benchmark.
The latest demographic figures from the Australian Bureau of Statistics show about 100,000 people are year are moving to Queensland from other Australian states, putting huge demands on the market for new housing stock and rental properties. With a pleasantly warm climate (even winter temperatures top 20 degrees Celsius) high average income and low taxes, it’s no wonder so many people are moving to Queensland.
Houses in Brisbane sell in just 24 days - Apartments in 14!
Half the value of property in Queensland is centred on Brisbane and the state’s south-east, taking in the Gold Coast and Sunshine Coast regions, which saw a lofty 20 per cent growth in 2007. Property prices at regional centres outside this triangle have been a little slower on the move, however.
A recent survey by property research firm RP Data found there are now 100,000 more homes in Queensland than there were five years ago - a significant jump for a state with a population of only 4 million.
But you need to be quick if you want to buy in the Sunshine State. RP Data also reports that Brisbane property shows the shortest time on market for any capital city, with houses averaging just 24 days to sell and apartments and units just 14 days!
Hot property developments to watch in Queensland
The biggest new project coming online is the Ripley Valley development, with around 120,000 people expected to settle in the region in the next 30 years, becoming Australia’s largest master-planned community.
Located in the western corridor outside of Brisbane, towards the regional centre of Ipswich, it is in the masterplan development stage, with Amex Corporation, Investa, Wingate Properties and J M Kelly Group having recently completed a structure plan for a 100 square kilometre site.
Other significant developments in Queensland at the moment include the West End project, which is converting a former industrial peninsula 3km west of Brisbane CBD (Central Business District) into a residential estate, the suburb of Sippy Downs on the Sunshine Coast and the city of Springfield and its planned population of 100,000.
And while the names of some of the towns may sound comical, the investment returns that could potentially be obtained are anything but!
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