Own A House - real estate market news

For last week during from December, 14th, till December, 20th situation in the market of hypothec crediting in the most demanded segment of the market (purchase of apartment, rubles) was stabilized.
For the first time for some last months the average rate under the best hypothec programs has ceased to grow, having reached the maximal mark in 17,4 %. It became known on results of data processing of base of hypothec programs IPEX, which is conducted by the company.
The same tendency was outlined in the policy of banks in relation to borrowers - to owners of business, whose income can be confirmed by the accounting reporting. Here the rate has reached a mark in 19,7 %, which also remains constant.

Unlike Europe, the market of the commercial real estate in Russia is still far from saturation. And even in such megacity as Moscow, huge possibilities for investments and growth prospect remain.
Russian real estate market substantially depends on a situation in the financial market, which is facing difficulties now. It has caused a new coil of interest to real estate purchase in the European countries.
The similar tendency, which has recently outlined, caused a new rate of interest to real estate objects in such habitual for Russian investors countries as Spain, Cyprus, Czech Republic, Croatia, and in less habitual countries as Panama, Bulgaria, Turkey, the Baltic countries.
Real estate purchase in the European Union countries - Spain, and Latvia, Cyprus, and Czech Republic, will shortly concern Turkey and Croatia - gives obvious pluses (possibility to have a rest in own house or apartment at any time of the year) as it is the acquisition of a valuable active, which in long-term prospect will grow in the price.

By words to the Minor Exhaust, the chairman of the largest private developer company of Japan Mori Building, the prices for habitation in Tokyo can fall because of surplus of the offer and reduction in demand.
Delay of rates of growth of a national economy and credit crisis, which has led to toughening of terms of credits delivery, have negatively affected demand for the commercial and inhabited real estate of Japan.
So, in the first half of 2008 the offer in the real estate market of Tokyo has reduced on 24 % concerning the similar period of last year.
The market of the commercial real estate of the city, meanwhile, remains rather healthy, and Mori considers, that recession of the prices in this segment will not exceed 10 %.

The prices for the elite real estate in New York establish new records. Manhattan penthouse almost is exposed on sale for $49 million. Young couple sells apartment to establish the record price in $48 million, which one American businessman has agreed to pay for other apartments several months ago.
Today the penthouse for $49 million is the most expensive apartment, which has been ever sold in Manhattan. And the couple has bought this apartment several months ago - in January, 2008. In winter they have paid $46 million for it, and then it was also very expensive.
Selling recently got habitation, young couple has decided to earn some superfluous millions. They wish to interrupt the price of the businessman and to keep superiority, and for this purpose it is necessary to rise the price again.
It is not clear yet who buys a penthouse with a winter garden and a spacious terrace. The owner, in turn, has told that the apartment requires some completions and additional investments.

In Italy attributes of recession of the market of the real estate are officially fixed. They were promulgated in the July report of ground cadastre of Italy Agenzia del Territorio.
In 2007 the sales volume of habitation in the country has decreased on 4,7 % in comparison with the last year. The greatest recession was observed in administrative centers of provinces - in Milan it has made 11,8 %, in Palermo - 12,4 %, and in Naples - 16,2 %.
Also for the first time since 2000 falling of the market in small communes, which is a parameter that the branch is under threat of crisis, has been noted. Falling of a sales volume is accompanied with growth of number of offers. Especially there are too much offers in the north of the country - in regions Veneto, Romania and Lombardy.
Despite of falling of a sales volume, the price continued to grow during 2007. Before it in 2006 prices have risen on 6,1 %: average cost of one square meter in the country has made 1,536 thousand euro.

From the beginning of 2007 prices for real estate in Dubai have grown on 79 % and by 2010, most likely, will fall to 10 % as the offer in the market today considerably exceeds the demand.
Such forecast has been made by investing bank Morgan Stanley. In the report of bank it is spoken, that sharper correction of Emirates real estate sector can render wave effect on neighbors across the Near East, and stock quotes of 12 regional companies of the real estate will decrease on the average on 35 %.
Under the worst script, the prices for the real estate in Dubai will follow in the steps of Singapore. We shall remind that there in the end of 90th years prices have fallen on 80 % within one year.
In the first half-year of 2008 prices for habitation in the Emirates have grown on 25 % and it was promoted by such factors as demand, gamble and growth of cost of construction. In 2009, under forecasts of bank, prices will start to feel pressure of surplus of the offer and by 2010 can already decrease on 10 %.

First townhouses for large capital families will be constructed in village Zaharino, which is in the southwest of Moscow.

As it has become known, some apartment houses for large families will be placed on a site by the area of 1,77 hectares, and the total area of under construction objects will make 7,7 thousand square meters.

The site of building is located in 300 meters from the architecture monument - a temple of the Sign of Icon Mother in Zaharino and near to the landscape gardening art monument “Manor Zaharino-Znamenskoe”.

In total in 2008 in Moscow construction of 190 cottages for large families is planned.

Cost of rent of offices in the Israeli capital has risen on 18 % in comparison with summer, 2007.
Experts predict that the prices for short-term rent of offices will grow; especially it concerns the small areas. In 2009, commissioning of new objects will promote reduction of cost of rent.
Recession in the USA has not affected demand in the Israeli real estate market of office though some international companies have refused expansion of the area of their offices.

Real estate market of the largest Canadian city shows positive price dynamics, unusual on a background of the general recession, spreading almost in all Northern America.
Now the standard house for one family in Vancouver costs at least 750 thousand Canadian dollars ($774 thousand). In total since 2001 till 2007 the cost of the inhabited real estate in Vancouver has grown on 120 %.
Thus if last year the rise in prices has made 11 %, this year, under forecasts of the Canadian housing agency, it will make at least 8 %.
Canadian Hypothec Crediting Association senior analysts prove that they, of course, expect some changes in the market: the prices will grow all the same and more slowly, than earlier.
Experts name a developing economy of region and the low rate of unemployment, attracting here people not only from other areas of Canada, but also from the world, as the reasons of growth.

In comparison with February parameters, the total cost of being in stage of construction real estate objects in Slovenia has grown on 10,6 %.
The annual gain, which was compared to March of the last year, has made 8,4 %. Term of money cost of habitation adjusted for a quarter, has grown on 82,2 %, concerning an average level of eight-year prescription.
All this time in Slovenia volumes of buildings construction has most confidently increased on 98 %. The works above objects of a civil infrastructure are on the second a place: the rates of construction have grown on 76,8 %.