Overseas Property News

Those thinking of investing in Spanish property may wish to consider Catalonia, as new figures have indicated price falls.

A study by property portal idealista.com has revealed that new homes in this region have seen significant drops in value in the last 12 months.

And areas that are particularly popular with those buying Spanish property as a second home have seen asking prices decline, with properties in Malgrat down 15 per cent over the last year, while the Costa Brava has experienced a decrease of more than 13 per cent.

The portal also found that costs in Barcelona have fallen to 2005 levels, due to a drop of 8.6 per cent over the last year.

Last week Property Wire reported that Spain’s Institute of Construction Technology expects prices to remain low until 2011.

Spokesman Josep Fontana explained that a high level of construction will keep values down over the next two years, before demand sees them rise again.

Visit Rightmove Overseas for the best selection of Spanish property. Stop dreaming, start searching!

Those keen on investing in property USA may find it easier to obtain bargains as a new survey has indicated a further drop in prices.

Figures for October 2008 showed that prices in the 20 largest cities fell year-on-year by 18 per cent, according to the S&P/Case Shiller index.

This represented the largest annual drop since the survey began in 2001.

October itself saw a 2.2 per cent decline.

Such a trend suggests that those looking to buy property USA may be able to pick up some very good bargains.

Those who do invest may find that prices start to rise as a result of new policies to be introduced by the Obama administration, which takes office later this month.

Such moves include universal mortgage credits to those without itemised tax relief, which may help homeowners avoid foreclosures and so prevent high levels of supply continuing to push prices down.

Visit Rightmove Overseas for the best selection of property USA. Stop dreaming, start searching!

Those buying Spanish property in 2009 may find that prices start to go up again from 2011, on the basis of a new study.

Spain’s Institute of Construction Technology (ICT) has said that new-builds will tend to be unsold in the short term because of the high supply of property on the market due to lower sales numbers, Property Wire states.

ICT spokesman Josep Fontana explained that because of pre-signed contracts there has still been a high level of construction in 2008, commenting: "In 2008 there has been a lot of work, almost as much as in the best years of the property boom."

Such a situation could help drive prices lower in the short term, enabling Spanish property hunters to pick up bargains, before the value of such dwellings starts to rise again in 2011.

Spanish bank BBVA has predicted a five per cent fall in house prices in Spain in 2009, Kyero.com reports.

Visit Rightmove Overseas for the best selection of Spanish property. Stop dreaming, start searching!

Algarve property prices may be set to rise after it emerged that the number built in the region fell last year.

Figures from Portugal’s National Statistics Institute revealed that in 2008 there were less than 1,500 new buildings of any kind constructed in the region, whereas in all other years since 1995 the annual total had been at least 2,300, Portugal Resident reports.

The news provider noted that demolitions outnumber constructions, something that may help prevent a glut of supply.

It noted that local architect Miguel Caetano recently told newspaper Jornal De Algarve there was no point in repeating the oversupply errors that have occurred elsewhere.

Algarve property may also benefit from increased rental demand around the times when its new motor racing track is hosting events.

The chances of it hosting a Formula One event could have been boosted by positive comments about the course made by drivers in a test last month, with McLaren test driver Pedro de la Rosa quoted by Autosprint magazine as saying: "It’s a fantastic track, it looks like a roller-coaster."

Visit Rightmove Overseas for the best selection of Algarve property. Stop dreaming, start searching!

Those who fancy investing in some French Riviera property will probably be most attracted by the wonders of being on the Mediterranean coast, with its warm blue waters, sunshine and beaches.

For some French Riviera property buyers, the scenery and the chance to while away hours on the beach will be all they want to do, but for others a bit of messing about on the water is the order of the day.

This second group may be well served by the Second Hand Boat Show at Mandelieu-la Napoule, which will be held over the Easter weekend of April the 9th - 13th 2009.

Anyone fancying the chance to get their hands on a small vessel for some aquatic fun without paying through the nose for a new model may find just what they are looking for at the event.

Mandelieu is located on the outskirts of Cannes, which is also famous for events such as its film festival.

The 2009 edition will take place from May 13th to the 24th.

Visit Rightmove Overseas for the best selection of French Riviera property. Stop dreaming, start searching!

For those who fancy buying Normandy property but also enjoying something that could seem quintessentially English while over there, the ideal event may be taking place in March.

The annual Mortagne au Perche Black Pudding Fair offers connoisseurs of the delicacy one may associate with Bury a chance to taste the Norman version - or lots of them.

As well as the local produce, those from Lancashire and many other places besides will descend on the town to bring forth their wares, in a cornucopia of baked pigs blood that will delight fans of the delicacy.

The decades-old festival is just one of many events and attractions that may tempt people to invest in Normandy property.

Other events include the Granville Carnival in February and the Franco-British Plants and Gardens Exhibition at Chateau de Crosville-sur-Douve.

Normandy property may also make a good investment, according to managing director of Solihull-based Cherish Properties Steve Wright, who told the Birmingham Post this week that France has "six to seven per cent growth a year on average".

Visit Rightmove Overseas for the best selection of Normandy property. Stop dreaming, start searching!

A property professional has said that the French market is still a good one to invest in, something that could encourage those considering buying Brittany property.

Speaking to the Birmingham Post, managing director of Solihull-based Cherish Properties Steve Wright said the country still has much to offer despite the fall in the value of sterling against the euro.

He noted: "In France, there is still six to seven per cent growth a year on average," adding that the French government has been encouraging foreign investment by refunding the VAT on new-build properties when they are completed.

Mr Wright also noted that the market is cyclical and the value of the pound will recover in time.

Earlier this month the chief economist at foreign exchange broker World First Jeremy Cook said 2009 will see a significant improvement of the value of the pound against both the euro and the dollar.

Such a development could help cut the cost of Brittany property.

Visit Rightmove Overseas for the best selection of Brittany property. Stop dreaming, start searching!

Those investing in Orlando property may be particularly tempted by the many attractions of the area, from Disneyworld to the natural scenery and sunshine.

For sports fans, there are some big events to be enjoyed, not least the annual Arnold Palmer Invitational Tournament.

Held at the Bay Hill Golf Club just outside the city, the event offers fans of the sport a chance to see the big names in action, with the 2009 tournament taking place between March 23rd and 29th.

In 2008, for example, the event was won for the fifth time by Tiger Woods, with other stars present including Vijay Singh, Fred Couples, Phil Mickelson and Lee Westwood.

As well as exciting events such as this, Orlando property buyers can enjoy choosing from plenty of courses to play on themselves.

The Orlando Vacation guide lists Boggy Creek Golf Club and Hunter’s Creek Golf Course as two of the best venues for the sport in the area.

Visit Rightmove Overseas for the best selection of Orlando property. Stop dreaming, start searching!

New York property seekers keen to find out about the upstate leisure activities that can be enjoyed will have an opportunity to do so at Lake Placid from January 2nd to 4th.

The former winter Olympics venue will host the 4th Annual Whelen Geoff Bodine Bobsled Challenge, when brave competitors will take part in a series of races as part of an event whose receipts will raise funds for the Bo-Dyn Bobsled Project, which was set up in 1992 to provide resources for US winter Olympians competing in the sport.

Those keen on buying New York property can be warmly entertained - despite the cold weather - as the bobsleighs, skeletons and other contraptions hurtle past.

Facilities such as Lake Placid offer variety for New York property buyers, providing an alternative to spending more time in the bustle of the vibrant Big Apple.

Lake Placid hosted the winter games of 1932 and 1980 and there is a museum commemorating these events.

Visit Rightmove Overseas for the best selection of New York property. Stop dreaming, start searching!

Recent statistics showing that Florida has dipped down the rankings among US states for population growth may help increase its popularity as a place to live, it has been suggested.

An editorial in the Orlando Sentinel noted that research from the US Census Bureau has revealed the state to be the 30th for growth, with a net fall in population in the year to July 1st.

However, it commented, this could help ameliorate some of the problems that occurred when Florida property was booming, at which time home insurance rates rose, crime went up and transport infrastructure developments failed to keep pace.

The editor stated: "Fewer people choosing to make Florida their home could work to preserve the quality of life for those who do," noting that it still offers the lure of its climate, man-made attractions and natural beauty.

Such considerations may make Florida property the first choice for buyers looking to the US.

Property Frontiers recently tipped the country as one of the best property prospects of 2009 because of its lower prices.

Visit Rightmove Overseas for the best selection of Florida property. Stop dreaming, start searching!