Own A House - real estate market news

Corporation Mirax Group and hotel network Rixos Hotels have made the decision on renaming of hotel Sungate Port Royal in Turkey, belonging to corporation. The project will be developed under the brand Rixos Sungate.
Let’s remind, that in April Mirax Group shareholders have decided to transfer hotel into Rixos Hotels management. The contract on management is concluded for a period of ten years with prolongation possibility.
The decision on transfer of an operational management is caused by desire to improve Sungate service and to maximize its profit.
Riхоs Hotels - is one of the largest hotel operators of Turkey.

In May sellers of houses in the Great Britain have considerably risen prices for the real estate.
The average price of the British house in May has grown on 2,2 % in comparison with April - up to 227,441 thousand pounds sterling. It is the greatest increase since February, 2008.
The most considerable rise in prices is fixed in East Anglia (+5,1 %). In London the habitation has risen in price on 2,7 %.

In April, 2009, the rate of demand in segment of expensive rent has remained at level of March both on number of demands, and by quantity of the signed transactions. Such information has been represented in IntermarkSavills’s report.
In April the average budget of signed contracts of rent of apartments in Moscow has not practically changed and has made $5,44 thousand a month.
Apartments with a monthly rent of $6 thousand are still in demand (about 70 % of cumulative demand).
At the same time, demand for more expensive objects, including apartments with budgets from $15 thousand a month (on the last it is necessary about 3 % of transactions) remains the same.
Since April, 2009, cumulative offer in a segment of expensive rent has not changed in comparison with March.
More than half of current offer is concentrated in metro station “Kropotkinsky”, Arbat, Lenin and Kutuzov prospectuses.
The greatest volume of elite apartments as well as demand for them is concentrated in budgets of $6 thousand a month (about 75 % of offered objects). Average (on all offered apartments) monthly rent in the end of April has made $5,34 thousand.
At the same time, while signing agreements about a quarter of hiring/rent are ready to reduce originally required prices (the size of possible discount, as a rule, does not exceed 10 %).

During 2008 foreigners have acted in a role of sellers in 3 900 real estate transactions in Estonia. In a role of buyers they took part in 4 900 transactions.
The total cost of the real estate objects, sold by foreigners, has made €140,6 million, bought - €166,1 million. During the last five years foreigners have sold real estate in Estonia for the sum of €715,8 million, and have bought - for the sum of €977,8 million.
Within last five years foreigners acted in a role of sellers of the real estate for 21 200 times, in a role of buyers - for 27 300 times.

Last week Nicolas Sarkozy, President of France, has told about the plans on financing of the grandiose project of transport and social infrastructure reconstruction of Paris.
According to the project, which assumes construction of new line of the underground and other transport networks, and also construction of 70 000 objects of the inhabited real estate in a year.
Works on the project are to be started in 2012 and finished within 10 years. According to Sarkozy, the project, which has received the name “Big Paris” (by analogy to “Big London”), will become a good answer to economic crisis.