Own A House - real estate market news

In April prices for the real estate in Vilnius have decreased on 3,2 %, in Kaunas - on 2,9 %, in Klaipeda - on 1,4 %, in Shaulyai - on 2,2 %.
Thus in current and following year the prices for real estate in Lithuania can decrease on 20-30 %. Such forecast has been presented by senior analysts of Danske Bank in Baltic Region. They prove that now in Estonia and Latvia the prices for real estate have decreased on 10-15 %, and Lithuania “lags behind Estonia for two quarters”.
According to some politicians and analysts’ forecasts, financial crisis in Lithuania is expected in the second half of 2008. Some experts predict growth of inflation up to 17 %.
In the government of Lithuania similar messages are named as a part of pre-election campaign of opposition and declare decrease in inflation in second half of 2008.

According to the Jones Lang LaSalle experts’ estimation, in 2007, 6 million square meters of real estate objects intended for shopping centers have been realized in the Europe  - it is on one million more than in 2006.
In the East Europe the tendency is especially strongly expressed, the boom was headed by Russia: this year here it is planned to build 1 million square meters in 40 different objects.
The second place is given to Italy (0,8 million square meters), the third - to Poland (0,7 million square meters). Germany, Turkey and Spain (the last one - with some delay in comparison with rapid growth of the last years) are also very active.
The countries of the Central and South Europe are more active, than the countries Western, where a situation in construction boom is quite stable. In Western Europe the tendency to expand or redesign available areas is being observed.
Experts believe that this situation will be kept within the next 2-4 years, and most of all shopping centers will be constructed in Russia.

Activity in a segment of elite habitation recently has decreased in the Italian real estate market.

Experts connect it, first of all, with the fact that the offer in elite sector is not simply limited, but it is also very specific: new “elite” real estate objects are not built yet, and buyers should be content with old and often historical objects.

In the joint report of company Tirelli&Partner and agencies of economic researches Nomisma have given the detailed analysis of situation.

In Rome activity decrease is more brightly expressed, than in Milan. During 2007 prices for business class habitation in ancient capital have grown only on 1,6 %, while in business and vigorous Milan rise in prices has made 6,7 %.

In Milan for last two years time of transaction closing has increased since 5,3 up to 7,9 months while in Rome the transaction comes to the end for 4 months. In Rome the difference between requested and final price makes 16,8 %, and in Milan - only 3,5 % (on the average on the country, for classes habitation this parameter makes 10 %).

The most expensive purchases of last quarter 2007 were 7,225 million euro in Milan and 5,8 million euro - in Rome.

Construction of the highest on the Balkans of a skyscraper in height of 165 meters begins in capital of Kosovo - Pristine.
The project in cost of 400 million euro is financed by Kosovo Company ENK Invest Group and four more firms from Albania. Besides 75 million euro the International financial corporation and 15 million euro more - invested Austrian Raiffesein bank’s branch.
The complex of buildings will be constructed near to city centre in Bill Klinton’s parkway on 28,5 hectares territory. The shopping center, hotel and six floors of underground parking will be settled down here. About 100 apartments of “lux” class will be also included. 165-meter 42-storeyed office building with the general internal area in 285 thousand square meters will top a complex.
Construction will be carried out by one of the Croatian companies. It is supposed, that simultaneously in works will be involved up to 2 thousand people. Predicted terms of construction make six years.

As it has been spoken in the message of the government of Spain it is the first time for ten years that the rise in prices for the real estate in Spain does not exceed a rate of inflation.
Since March of the last year till this year March, the prices for houses have grown on 4 percent. for the same period Inflation has made 4.6 percent. These figures show that the prices for habitation in absolute figures have decreased for the first time since 1997.
The housing sector remained motive power of the Spanish economy within last 10 years, and has provided growth of a national economy for 7,5 percent. Low interest rates under hypothec credits in a combination with country’s entrance to the European Union in 1999, have led to boom in this sector of economy: Spaniards took credits for purchase of the “first” real estate or for sale smaller and purchases of the greater house.
The market has slowed down growth in the beginning of the last year because of growing credit rates and the stopped rise in prices for houses. International financial crisis has influenced stagnation of the market. In January, according to the government, the quantity of the given out sanctions to construction of houses reduced on 50,2 percent, and quantity of transactions of sale and purchase - on 27 percent.

It has become known that the person equips the habitation renders the big influence practically on all parameters of health - from emotional mood up to the health of teeth and stomach.

In American physicians’ opinion, a bathroom, especially if there near to a washstand the tooth-brush is stored is one of the most dangerous places to the person. The professor of microbiology from Arizona University has declared that on the average nearby 3 million microbes live in a bowl on square inch. Scientists advise to hold a tooth-brush far away from a washstand - in the closed locker.

Not smaller danger is represented also with a vestibule, where people usually put footwear. It appears, particles of a dust and dirt which can cause strong allergic reaction always remain on a sole of any footwear even if you wipe it carefully. Therefore it is better to keep footwear in a special shoe case, or to store it behind a door outside of apartment.

Americans are also assured, that greater health hazard of the person is represented with a refrigerator as incorrectly frozen products can lead to food poisoning. It is especially dangerous to freeze still hot meal as in this case the food is cooled non-uniformly owing to what the favorable environment for duplication of pathogenic microbes is created.

Japanese scientists plan “to create” island in Pacific Ocean to keep border of territorial waters for a fishing craft.
The main problem is that the island “drowning”. Now it towers above water of all on 10 centimeters. If it will finally disappear under the water, the zone of territorial waters for the Japanese fishermen will be reduced many times over. Besides, Japan can lose and stocks of oil, gas and the minerals, hidden under the sea-bottom.
It is planned, that up to 50 thousand coral fragments it will be transferred to ocean waters to island Okinotorisima in 1,6 thousand kilometers to the south from Tokyo.
Meanwhile, the project in cost of 3,6 million pounds sterling (nearby $7 million) threatens with strain of relations with China, which does not recognize man-made islands and it is not going to leave this region.

Russian tennis star Maria Sharapova has bought a magnificent penthouse in the Israeli city of Netania at the Mediterranean Sea.
The apartment-penthouse in the luxurious new building, which is in 30 kilometers to the north from Tel Aviv, has managed to Maria in 7,5 million shekels that makes more than $2 million
The area of apartment makes 350 square meters. Besides of three balconies, the apartment has also maintained roof comparable to the area of apartment’s metric area. As it has become known, Maria is planning to construct own pool there.

Russian businessman Alexander Klyachin has got Austrian Hotel Company, operating 21 hotel in the Europe.
Azimut Hotel Company,in which Alexander acts as main shareholder, has got Austrian Hotel Company (AHC). Such information has been given by Jones Lang LaSalle director across the Europe, the Near East and Africa (the adviser of the transaction). Close to Klyachin source and the president of Austrian Hotel Company have confirmed this information.
It has been also informed, that AHC operates 21 hotel under brands Eurohotel, Belmondo and Highway Hotels approximately for 2 thousand room-numbers (17 hotels in Germany, three in Austria and one in Czech Republic), eight more hotels - are under construction (in Germany, Austria and Bulgaria).
The sum of the transaction has not been disclosed, but experts miss in estimations. Director on development Swiss Realty Group has declared, that AHC business costs more than 10 million euro, and all network with hotels could cost 400 million euro.
Close to Azimut resource has told, that in the future the part of foreign hotels will pass under brand Azimut.

The cost price of construction of square meter of habitation in Moscow does not exceed $1,5 thousand.
According to real estate experts the cost price of square meter of skyscrapers makes almost $1,5 thousand. In older houses the cost price of one square meter does not exceed $800.
Experts prove that five years ago the cost price of construction in Moscow was approximately twice below.
Thus the cost price includes only charges on human resources and building materials, without taking into account requisitions and recoils which considerably make cost of the constructed building higher.
The expert also has noted that, despite of greater charges on “recoils”, profitability of construction in Moscow is very high and averages from 400 %.