Own A House - real estate market news

In 2008, in experts’ opinion, tourist trips of Americans will be shorter. And the choice of destination will be determined by proximity to America.

Record-breaking low positions of dollar will affect traveling in 2008. However Americans all the same will travel: according to statistics, 45,8 % of Americans plan to take holiday and to go traveling for the first half-year of 2008.

The last year this parameter made 46,4 %: despite depreciation of the dollar, the number of American tourists has not reduced. The only difference - tourists will search for more budgetary variants.

Popular directions abroad this year for Americans will be Peking, Central America, Italy, East Europe and Lisbon. However the tendency to search for a place of rest in the country grows. Hawaii and national parks became popular as never before.

The most expensive house the world is built by American billionaire Tim Blikset - the owner of resort Yellowstone Club in Montana. The billionaire is going to sell it for 155 million dollars.

The private residence from wood and stone will be ready in 14-15 months. The total area of the house - 4900 square meters. The house is on a plot in 65 hectares at a resort which belongs to Blikset. The house will be sold together with the wine cellar, a private golf-links and the ski slope, designed by the owner.

The private residence consists of ten completely furnished rooms, and the special sliding wall in one of the rooms can be moved away. At that the room turns into a court yard with a home theater and a pool. Some participants of Forbes’ list 400 have already expressed interest in this superhouse.

The project of this house was created by architect Jerry Locati. In Yellowstone Club he has designed 35 houses. Expenses for construction, without the cost of the ground area, will make about 40 million dollars.

According to the forecast of Australian Property Monitor, in 2008 Melbourne can outstrip Sydney regarding high cost of habitation in Australia.

In 2007 the average cost a residential real estate in Melbourne has grown by 25,2 % whereas in Sydney rates of growth have made only 4,8 %. Thus, as of December of the last year average cost of a house in Melbourne has reached a point of 405,1 thousand dollars, in comparison with 323,4 thousand for the similar period of 2006.

In Sydney the prices have risen from a mark of 461,6 thousand US dollars to 483,6 thousand dollars.

In the forecast for 2008 company Australian Property Monitor has noted, that Australian real estate market will featured by instability, caused by consumers’ discredit, writes The Australian.

New York, which is on the second place, looks the following way: apartments in Upper Manhattan cost from 13,27 up to 22,923 thousand dollars for a meter, in Downtown Manhattan - from 12,51 up to 20,456 thousand dollars. An elite meter in Moscow can’t be found cheaper than 10, 765 thousand dollars, and an average limit of Moscow prices makes 20,506 thousand dollars.

Paris, which is on the 4th place, prestigious apartments cost from 12,930 to 18,070 thousand dollars for a sq. meter. Then fallow cities of Asian - Pacific region where prices for apartments have recently started to grow: Hong Kong ($10490-$ 14780), Tokyo ($7600 - $11870), Singapore ($11500-$ 13340) and Mumbai ($8600-$ 10300).

As to other cities, the apartment in Barcelona will cost from 9, 16 up to 9,87 thousand dollars, in Madrid - from 6,535 to 8 thousand dollars, in Geneva - from 6,87 to 10,4 thousand dollars, in Zurich - from 5,9 to 9,83 thousand dollars, in Berlin - from 1,85 to 2,6 thousand dollars for a square meter.

By the way, this list except for Moscow includes another Russian city - Saint Petersburg. The Northern capital which has taken the 25th place has average apartments at a rate of 3400 dollars for a sq. meter.

For a long time investors in chase of the most prestigious and expensive real estate invest in buildings in the main streets of London and New York. However recently Moscow has joined two capitals where exclusive square meters cost really unbelievable money.

American research company Global Property Guide has published a rating of cities with the most expensive apartments for 2008. So, the three cities-”Mecca” from luxury life-style are: London, New York and Moscow. And if the British capital has gone ahead evidently, Moscow and New York have almost the same prices.

For today apartments in the central area of London (Prime Central London) will cost from 21,8 up to 36,2 thousand dollars for a square meter. In other areas, premium-class areas habitation will cost from 14,142 up to 19,361 thousand dollars, that also is considered the highest price for a city living space in the world.

Israeli company Gazit-Globe Ltd., engaged in real estate investments, has got the multipurpose center in Munich for €41,3 millions ($61,25 million). This transaction is only a part of planned by Gazit Globe expansion to Germany, writes Reuters.

The center, 22 thousand square meters, is located above railway station and nearby to two large highways. The main tenantry are a hotel of Holiday Inn network and two supermarkets.

Gazit Globe is interested not only in Germany. A week before this company has got shopping center in Sao Paulo (Brazil), and a month ago Israelis have declared about their intention to invest €100 millions in the building of commercial real estate in capital of Macedonia, Skopje.

In America the prices for real estate have reached record-breaking low mark for the last 16 years and continue go down in price. Experts predict long and deep market recession of houses for one family.

According to CNNMoney.com, the price index for houses “S&P/Case-Shiller”, basing on the complex analysis of real estate prices in 10 cities, has fallen by 6,7 % in comparison with the last year. Falling of the same index in 20 cities has made 6,1 %. The reason of recession is an abundance of empty houses in that market, which has used to experience the agiotage of consumers.

The greatest recession is fixed in Miami (12,4 %), Tampa (11,8 %) and Detroit (11,2 %). Real estate has risen in price only in three cities: in Northern – Caroline’s Charlotte (4,3 %), Oregon’s Portland (1,1 %) and in Seattle (3,3 %).

In spite of the fact that in December after three recessions successively the prices for the real estate in Britain have grown by 1,3 %, it is still early to tell about the end of crisis.

The Independent informs that today’s real estate crisis, which is the largest since 1995, can not be considered completed - even despite of the encouraging statistics of the last year’s end. 

The total amount of bank loans for real estate purchase in November has made 80 thousands - 3,1 % less, than in October.

In December 2007 the average price of a private apartment house has made $393,4 thousands and was 5,2% higher, than in 2006. All experts agree in opinion that restriction of the bank credit by Bank of England had not time to tell upon the state of mortgage lending market, so they expect the further downtrend.

The highest skyscraper of the world - Burj Dubai

The most expensive apartment
The one-room apartment in Moscow about 12,9 square meters has been sold at the price of 7200 dollars for sq. meter.

The most expensive office
More than 500 million dollars has paid limited company “Prana” for the YUKOS’ headquarters in Moscow constructed in 2001 for 40 million dollars.

The most expensive land
In Sochi hectare’s hundred part has been sold for 1 million dollars.

The most expensive estate
English estate Updown Court, located in the neighborhood with Windsor Castle. It consists of 103 rooms and 5 pools, its cost - 139 million dollars.

The smallest house
It is offered for sale in Toronto. The area of the house constructed in 1912 - 28 square meters. The price - 228 thousand dollars.

The most expensive house
It is being constructed by American billionaire Tim Blikset - the owner of resort Yellowstone Club in Montana. The billionaire is going to sell it for 155 million dollars.

American magazine The Forbes has made the list of US’ cities, with the most favorable lease conditions for owners. The first place has taken New York. Here the average rent is the highest throughout the country and makes 2922 dollars per month.
 
The second place has taken San Francisco, where tenants should pay on the average 1904 dollars monthly. The third line of a rating has taken Boston with an average rent payment in 1658 dollars per month.

Among other ten cities are San Jose, Los Angeles, San Diego, Washington, Miami and Philadelphia also have In Chicago a landlord will get hardly more than a thousand dollars per month.

The most favorable for lodgers is Kansas City. The monthly rent in this city averages 655 dollars.