Many investors are seeking a safe haven for their money and property in the UK has been a top choice for many homebuyers.

According to property agent Savills, the number of Greeks searching for UK properties over £1.5 million has increased by 39 percent in April compared with the average of the last six months.

The number of Europeans buying property in the UK has grown at a steady pace over the last year as problems continue in the euro zone. Liam Bailey, head of residential research at Knight Frank, commented: “What we are seeing is another stage in the euro zone crisis gathering pace. It’s ironic that the more instability you get in the euro zone the more the UK property market benefits.”

Savills research has shown Spanish buyers have grown by 14 percent in April compared with the same six-month period and Knight Frank recorded a 21 percent rise.

Growing interest from Greece has been buoyed by buyers looking to rent out property as an investment. Noel de Keyzer form Savills commented: “There seems to be an endless flow of wealthy Greek buyers, old Greek family money, coming to the UK both renting and buying.”

The UK has also gained growing interest from property investors in Russia, the Middle East and Far East as buyers attempt to protect their assets, which is great news for the UK’s property market and economy.

Source: Reuters

The expected growth rate has passed last year’s three percent and the forecast is far higher than predictions originally made by institutions including the Washington-based Institute for International Finance, which predicted 2.5 percent.

Chief economist at Dubai’s Economic Council, Ali Tawfiq Al Sadeq, commented: “Growth this year will be supported by expansion in overall economic activities and strong performance of key factors. This was shown in the first quarter of 2012.”

The high forecasts for Dubai’s GDP are due to many factors including the strength of the emirate’s trade sector and expanding business opportunities. Dubai has become known for its openness and general improvement in global economies, which has resulted in revised predictions from the IMF and the World Bank for higher regional and global growth rates.

Trade and other five key sector areas including tourism account for 96 percent of Dubai’s GDP and each sector is expected to drive GDP growth this year offering investors great opportunities.

The news will also impact Dubai’s property industry as the predictions of GDP growth in the emirate will certainly attract buyers who will take into account the economy’s performance before they buy.

Al Sadeq commented: “I believe that investors will find great opportunities in the emirate in 2012.”

Source: emirates247.com

The predicted figure surpasses last year’s $23 billion according to Turkey’s Tourism Minister Ertugrul Gunay. The news has injected confidence in the sector and has attracted many investors to the region who are looking for the next opportunity.

The positive news has followed another encouraging story that has revealed there has been an increasing interest in Turkish property with investors from the Middle East.

Middle Eastern buyers cannot currently buy property in Turkey due to certain laws but these laws are due to change this year once a set of new rules have been approved byTurkey’s parliament.

The change in laws will allow certain foreign investors to buy property in Turkey, which has not been allowed in the past. Industry experts believe this will put Turkish property in high demand.

One property expert commented: “There is an intense interest from the Middle East countries and former Soviet socialist republics in Turkey, particularly in Istanbul.”

Industry Group Association of Real Estate Investment Companies has predicted the law change will boost foreign investment in Turkish real estate to approximately $5 billion a year. This compares with total investment in the residential sector of $7.3 billion from 2005 to 2010.

Engin Cubukcu, senior manager at PricewaterhouseCoopers, commented: “The Turkish market is ideal for foreign investors on a macroeconomic level, with gross domestic product growth, increasing young and growing population, which should create healthy demand.”

International investors are looking to soak up the supply of Turkish property whilst prices are still low and the recent news that tourist arrivals are set to increase has only encouraged property investors to act quickly.

The news has spurred investors to buy property in Dubai whilst prices are still low after reports have stated prices are expected to rise in 2012. Prime residential spots in Dubai are recovering well from the global crash in 2008 and many investors are starting to enjoy a healthy return of around four to five percent.

Analysts have said the new found confidence has encouraged many property investors to buy now and as long as buyers are careful about their choices, analysts say this is a good move.

One industry expert commented: “In selective projects, it’s a good time to buy now, but you have to choose the projects very carefully. There are projects in the market where sales prices and rents are increasing.”

Locations including Dubai Marina are a popular choice with investors as they have well-established communities that include retail and other amenities.

Average rental returns of four to five percent can certainly be achieved in Dubai after paying all costs associated with owning and letting properties. The news has certainly put Dubai property in high demand with investors wanting to take advantage of the low prices.

Apartments and villas are proving to be the most popular choice with buyers, with location and space being important factors. The news has injected confidence in Dubai’s residential property industry, proving 2012 could be a great year for the emirate.

Source: The National

The UAE Ministry of Public Works has revealed the next stage of the plans that will connect the Dubai bypass and the Ras al-Khaimah bypass at a capital investment cost of $163 million.

It is great news for Ras al-Khaimah investors and the connection will offer many benefits to Ras al-Khaimah residents. It is a possibility many Dubai residents will move to the neighbouring emirate for cheaper rents and drive into Dubai to work.

The Dubai bypass is currently still under construction so the new road will be built in two stages. It will be linked temporarily in the first stage to Emirates road. The ministry will then float the tender in the second phase, which is planned for June 2012. Construction on both roads will then take place at the same time.

Undersecretary at the Ministry of Public Works, Abdullah Bel Haif Al Nuaimi, commented: “It starts at Al Rams until Al Kharan, where it will be joined to the Dubai bypass. This would get you to the end of Ras al-Khaimah and near Saqr Port Al Shaam and our borders with Oman in Al Daara.”

The Ras al-Khaimah bypass will be 32km long with three lanes in both directions. The contract for the link to the Dubai bypass will be worth $68 million once completed in 2014.

Source: Construction Week Online

Real estate information company REIDIN.com has revealed that villa and apartment rents have risen by an impressive 11.7 percent and 8.6 percent in 2011. Chief Executive of REIDIN.com, Ahmad Kayhan, commented on the new findings: “Key drivers for a rise in rents have been inflation and increased demand from people in constant search of affordable accommodation.”

Gulf News has reported occupancy levels in Dubai are increasing and the fact that it will take another two years for most major projects to be completed means the rents at existing properties are very likely to go up.

A high demand for apartments and villas which have a choice of retail and leisure amenities is becoming increasingly popular with residents and are proving to be the preferred choice to properties without such facilities.

Dubai Marina apartments are in high demand by residents and are one of the top performers in the emirate. Dubai Marina apartments have a current rent of Dh81.84 per square foot per year and the current average rentals for a four bedroom apartment can reach Dh140,000 to Dh200,000.

The news has certainly shone a positive light on Dubai pleasing investors in the region and the news is expected to see many investors take advantage of purchasing a Dubai property that will offer a good return on investment.

Source: Gulf News

The strength of the pound has encouraged many property investors to choose the UK for their next investments as the pound continues to be a strong and robust currency.

The latest figures have revealed sterling to the euro has marked a 20-month high and at some times investors have only had to pay £0.80603 for one euro.

The UK is on a good path in terms of capital markets and the London Stock Exchange listed 2012 clearly in the green. New confidence in the UK has spurred on many property investors taking the opportunity to buy properties while prices are still low in the country now that the housing market has stabilised sufficiently.

Economist at French BNP Paribas, Ray Attrill, commented: “The United Kingdom stands out pleasantly from the increasing stress in the eurozone.” The British currency exchange rates have surprised many and its healthy performance will benefit the UK’s economy hugely.

Many investors have turned their attention to student properties that offer a high yield now that more international students are choosing UK universities for their studies. The UK property market is certainly thriving and if the pound continues to stay robust, the sector will enjoy a huge boost putting UK property in high demand.

Source: Welt Online

The survey has revealed 67 percent of home owners in the UK believe house prices will increase over the next six months, the highest percentage of homeowners predicting property price growth since the beginning of 2010.

It is a huge jump compared to 2011 where only 55 percent of British homeowners predicted a climb in property prices. The new found confidence has resulted in UK property owners being more optimistic about how much they expect house prices to rise in the country.

Last year, UK property owners thought house prices would only rise by 2.2 percent but this year has seen that figure rise to 3.9 percent. Optimism from property experts across the sector has spurred investors to buy property whilst prices are still low, which good news for the UK’s economy.

Nicholas Leeming of Zoopla commented: “The property market has been in need of some positive news of late and these results show that home owners now feel a lot more positive than at the end of last year. This confidence could bolster transaction and activity levels as we move further into the year.”

Source: Property Wire

The progressive property law is expected to be implemented in June this year according to the director general of Dubai Land Department, Sultan Bin Mejren. The scope of the revisions means property investors will be able to cancel their contract and can seek a full refund if a real estate developer doesn’t provide the property or services within the detailed timeframe.

The proposed law will reassure investors when buying a property in Dubai and protect them if the developer fails to deliver on agreed facilities within the contract. If the developer has taken longer than eight months over the agreed handover date then the buyer can obtain a full refund.

At the time of the handover, the developer must ensure all facilities such as swimming pools, gyms or any other services are complete before handing over the keys to the new property owner.

The proposed Investor Protection Law comes on the back of a buoyant first quarter in the Dubai property market and can only add further weight behind the encouraging rental and price projections.

Up until now owners did not have much control and had to put their faith in the strength of the development company. While the majority of projects in key areas have been handed over, there have been delays across the market and in rare cases projects that have stalled.

Moving forwards if property developers fail to deliver the unit or promised facilities on time, not only could they face buyers cancelling their contracts they will also face fines. The draft law also states that if a unit is 30 percent smaller than the net area in the contract the investor can cancel the contract and receive a full refund.

The new law has also made it compulsory for a developer to get all approvals from the Real Estate Regulatory Agency (RERA). It is also mandatory to register all saleable units with the Dubai Land Department’s Oqood system (the online registration system).

The draft law states that the developer must also provide the buyer with an agreement within 15 days of the signing of the reservation form. If this is not completed then the reservation form will be voided.

Beyond just providing protection for buyers the various statements made in the new law will be very helpful for investors who are not used to the buying process in Dubai. One property expert commented: “The various provisions mentioned in the draft are helpful for the investors especially since it gives them the right to cancel than just seek compensation.”

Source: Emirates247.com

Dubai is expecting to see around 28,000 new units completed this year with the majority falling in the popular freehold areas. The ever popular Dubai Marina is expected to see 3,081 units completed in 2012 as rents continue to push demand in Dubai’s premium locations.

Last year most of the completions were apartments that are proving to be very popular with international investors. The report quoted that “the general rental trend across the market is positive” which has resulted in many investors choosing Dubai for their next property investments.

The villa market has also seen increased interest towards the end of 2011 and in the first quarter of 2012. Villas are becoming a popular choice for people who want to buy a property in Dubai as a second home or investment and one property industry expert stated: “This trend has continued in 2012 with sale indices now three percent higher than in January 2008.”

The news has shone a positive light on Dubai’s real estate market and more investors are returning to the emirate while properties are still well-priced. Dubai is expected to perform very well in 2012 and investors are keen to grab the opportunity with both hands before prices rise.

Source: Emirates247.com