Dubai-based Landmark Properties has opened an office in Mayfair to hunt out real estate opportunities for its Middle Eastern clients, claiming exchange rates alone have made London property 25% more affordable in the last six months.
John Michael, manager at Landmark Properties UK, said: "If you live in the United Arab Emirates or elsewhere in the region, there has never been a better time to invest in London properties - the exchange rate is in our favour and the Bank of England base rates are at an all time low of 0.5%, therefore excellent rates can be achieved for clients based outside of the UK."
Michael said London properties were highly sought after by Middle Eastern investors as they had undergone several peaks and troughs and but the market remained one of the most proven and mature worldwide.
Wednesday, April 1, 2009
Wednesday, March 25, 2009
Your $32 million takes a village in England
LINKENHOLT, England (AP) — Sheep dot green hills. Pheasants hop across country lanes. Quaint cottages sit next to a tiny stone church. Neighbors who've known each other since birth greet strangers warmly. And for about $32 million, this leafy, nostalgic slice of England could be yours.
The village of Linkenholt's 21 cottages, grand manor house, lush green cricket pitch and accompanying pavilion are part of an estate that also encompasses 1,500 acres of farmland and another 425 acres of woods.
The entire estate is for sale — as a whole — with the only part not on the block being St. Peter's, built on the site of a 12th century church.
"That," said real estate agent Tim Sherston, "is owned by God."
Having an entire estate become available is "very unusual indeed, particularly in the south of England," Sherston said. "I can't recall the last time a village came up for sale."
The village of Linkenholt's 21 cottages, grand manor house, lush green cricket pitch and accompanying pavilion are part of an estate that also encompasses 1,500 acres of farmland and another 425 acres of woods.
The entire estate is for sale — as a whole — with the only part not on the block being St. Peter's, built on the site of a 12th century church.
"That," said real estate agent Tim Sherston, "is owned by God."
Having an entire estate become available is "very unusual indeed, particularly in the south of England," Sherston said. "I can't recall the last time a village came up for sale."
Monday, March 23, 2009
London Police Probes Bulgarian Dreams Real Estate Agency
Bulgarian Dreams, a London-based estate agency that folded last year, is being investigated by the City of London Police Economic Crime Department, the Sunday Times reported.
"We have received a number of complaints about Bulgarian Dreams and have begun an investigation," a spokeswoman said. She confirmed that the company closed its Moorgate offices at the end of 2008, but could not comment further.
Founded and owned by Robert Jenkin, a Cambridge graduate, and his Bulgarian wife, Mariya Georgieva, the company sold flats and houses at more than 40 developments in Sofia, the capital, in ski resorts such as Bansko and Pamporovo, and on the Black Sea coast.
A message on the Bulgarian Dreams website says that the company has ceased trading "following the extraordinarily difficult economic conditions" and suggests those who bought property through it should contact the Bulgarian developers directly.
"We have received a number of complaints about Bulgarian Dreams and have begun an investigation," a spokeswoman said. She confirmed that the company closed its Moorgate offices at the end of 2008, but could not comment further.
Founded and owned by Robert Jenkin, a Cambridge graduate, and his Bulgarian wife, Mariya Georgieva, the company sold flats and houses at more than 40 developments in Sofia, the capital, in ski resorts such as Bansko and Pamporovo, and on the Black Sea coast.
A message on the Bulgarian Dreams website says that the company has ceased trading "following the extraordinarily difficult economic conditions" and suggests those who bought property through it should contact the Bulgarian developers directly.
Tuesday, March 17, 2009
European property market may not recover till 2012
“It is important for financing problems to be worked out, and for price cuts to come into force,” Benoit du Passage, head of Jones Lang LaSalle for southern Europe. “If access to financing is freed up ... that would be very good for the market,” he said.
Morgan Stanley, and Germany’s Allianz among others, are predicting discount purchases in the second half and in 2010, in low-risk markets like London, where there is liquidity and where average prices have plunged more than 37% since the June 2007 peak.
“London has seen the strongest reduction in values since 2008. I’ve seen meetings (at MIPIM) and I’d be surprised if they didn’t come to something,” Mark England, chief executive for BNP Paribas Real Estate unit Atisreal said. (Reuters)
Morgan Stanley, and Germany’s Allianz among others, are predicting discount purchases in the second half and in 2010, in low-risk markets like London, where there is liquidity and where average prices have plunged more than 37% since the June 2007 peak.
“London has seen the strongest reduction in values since 2008. I’ve seen meetings (at MIPIM) and I’d be surprised if they didn’t come to something,” Mark England, chief executive for BNP Paribas Real Estate unit Atisreal said. (Reuters)
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