Global Property Guide - by Marie Carson

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Global Property Guide - March 2007

Moscow's real estate boom propels Russia to the top

March 22nd 2007 15:07

by Global Property Guide

If you thought Moscow property prices couldn’t go any higher – well, they just have! Apartments in the centre of the city are being sold and rented at prices which would appear to defy all reason - except that Moscow is a city, now, of extraordinary wealth.

The average price of an apartment rose to US$16,363 per sq. m. in prime Moscow districts in Q3 2006, according to Knight Frank, Moscow. Re-sale apartment prices rose 62.8% in the three quarters to Q3 2006. Newly built apartment prices rose by 79% in the three quarters to Q3 2006. A small three-room apartment (60 sq. m.) in central Moscow is now worth US$1 million. First-class apartments can command twice that or more – US$30,000 per sq. m. and up is not unknown.

Property is not all that’s booming.

Read the rest of the article here:

Moscow just keeps on booming!

Yields are falling in Russia, but still high

Pro-tenant rental market in Russia

Buying costs are high in Russia

High, flat taxes for non-residents

Reclaiming the Superpower status

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Philippines: High Yields on Metro Manila Condominiums

March 15th 2007 04:05

global property guide team

The rental returns from letting residential condominiums in central areas of Metro Manila range from 8% to 15% yearly, according to a survey just released by the Global Property Guide.

The smallest apartments in each segment earn the highest yields. For instance, studio apartments in the prime areas of Metro Manila can earn around 13%-15%. But the highest returns are available on the smallest studios (30 sq. m.), which earn rental returns of an average of 15.1%. Larger studio condos (40 sq. m.) earn slightly lower returns (12.9%).

The same pattern holds in other condominium segments. One to two bedroom units (measuring 50 – 90 sq. m.) earn around 12%-15%, but the highest returns can be earned on the smaller (60 sq. m.) condos, which earn rental returns of 15%. Larger 1 – 2 bedroom condos (80 sq. m.) earn rather lower returns (11.5%).

“The pattern is unusual,” says Matthew Pollock, publisher of the Global Property Guide. “Instead of a smooth progression from high yielding units to low, we have high to low with high-yielding 'ridges' or 'lumps' at particular apartment sizes - which correspond to the smallest case of a particular number of bedrooms.”

Read the rest of the article here:
http://www.globalpropertyguide.com/articleread.php?article_id=86&cid=

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How does the average UK home cost?

March 1st 2007 05:18

via Thisismoney UK

In the UK, there are at least three top companies which spew out in-depth reports and forecasts on real estate and housing trends. These are Halifax, Nationwide, and Hometrack. Halifax said that the average UK home “rose by 9.9% last year to reach £186,035. They have also predicted a further rise in 2007 of 4%.” Nationwide stated that it “rose by 10.5%, in 2006, to £173,746, and they have forecast a rise of 7% in 2007.” Whereas Hometrack declared that UK homes‘ cost rose by 5.7% last year to £170,100.

Elswhere, the National Association of Estate Agents chief executive Peter Bolton-King predicts that there will be a 5% growth for 2007.

However, The Royal Institution of Chartered Surveyor determine that the prices rose by 8% last year and predicts a further 7% increase for 2007.

This may at some point coincide with reports that UK and the rest of Northern Europe will continue to experience real estate boom. Note, however, that the RICS says that last year housing affordability deteriorated by 14% and a first-time buyer couple would now need to save £32,800 to buy a home.

The bottom line is that experts do not see a double-digit increase on house prices.

(Did you find this article useful? Discuss it at Global Property Guide forums!)

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March 2007

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