St Vincent and the Grenadines’ New Airport on Target for End of 2015
Possibly one of the most glamourous and exclusive holiday locations in the world is located just off the Caribbean’s St Vincent and the Grenadines (SVG) – the private island of Mustique. Super high-profile guests from the British Royal Family and the world of Hollywood have sought luxurious getaways on the island since the 1950s, largely due to its breathtaking beauty and guarantee of privacy.
However, by the end of this year SVG is to open its first international airport, set to make the stunning islands accessible to many more visitors from all walks of life.
SVG is a fantastic Caribbean destination that holds the promise of 32 gorgeous islands clustered together in a tropical paradise perfect for yachting, scuba diving and enjoying nature or just relaxing in luxurious hideaways.
In recent years SVG has concentrated efforts to develop infrastructure to support and stimulate tourism in the islands including the construction of the Argyle International Airport, due for completion at the end of this year.
Delays have plagued the launch of the airport since the tiny Caribbean nation first announced the project in 2007, now long-since passed its original completion date scheduled for 2011. However, this year has seen construction make leaps and bounds with the airport’s terminal building, featuring a departure lounge, concessions area, a rooftop restaurant and a conference centre with a roof garden and parking all now complete. Paving to the runway has also been completed leaving the total build on schedule for a late 2015 opening.
When complete SVG’s first international airport will have three floors with a total area of 12,065m2 floor space with capacity to handle 1.5 million passengers annually. This will increase the number of visitors to SVG more than five times the number currently passing through the existing ET Joshua Airport.
Argyle Airport has been financed by the SVG government with grants, donations and loans from countries including Cuba, Venezuela, Trinidad and Tobago, Mexico, Austria, Malaysia, Turkey, Qatar and Taiwan. Foreign investment has been easy for SVG to attract for this project due to the outstanding returns investors are likely to enjoy from the boost to the nation’s tourism.
The airport will also provide uplift to SVG’s economy by improving its ability to deliver vital fish exports to markets in the US. Agriculture and Fisheries Minister Saboto Caesar said: ” We have had a problem where we have markets in the United States of America but we do not have the means of getting the fish to the US markets in a timely manner when the fish is still fresh “, noting that the new airport will solve that problem.
” We want the private sector to come on board with their part in tourism, with agriculture. I continue to mention that many of our farmers in St Vincent and the Grenadines will be benefitting significantly from the Argyle International Airport “, he added.
In terms of property investment the scene is set for some outstanding returns for SVG real estate. With some of the more well-known parts of the Caribbean rapidly becoming saturated, SVG has started to attract increasing interest from foreign buyers.
The soon-to-be-discovered islands present many high-value opportunities in its real estate, boosted by the bright outlook for the country’s tourism on completion of the airport. There’s something for every budget in St Vincent & the Grenadines too with increasing opportunities to invest in lower entry level hotel and apartment options, as construction of new homes steps up to meet improving demand ahead of the airport’s completion later this year.
Article by +Roxanne James on behalf of Propertyshowrooms.com
Tasmanian Real Estate a Hit with Investors
Tasmania is the world’s 26th largest island, located just 240km to the south of the Australian mainland and a destination rising in popularity with international property buyers in 2015.
The capital city of Hobart and the second most populous city in Tasmania, Launceston are the locations receiving the most interest from homebuyers this year, with transaction volumes up almost 25% on 2014.
Tasmania is very different to the Australian mainland. Hobart is home to around 200,000 people, whereas Sydney and Brisbane have populations of 4 and 3 million respectively and the pace of life is much slower, without the traffic problems experienced on the mainland.
Real estate is much cheaper in Hobart and Launceston than other Australian cities. The cost of living in Tasmania is relatively high however, due to the extra cost of freighting goods into the state. Nevertheless, Tasmania is a prime agricultural production state and fruit, vegetables and meat produce is widely and cheaply available on the island.
Tasmania is popular with British expats and is said to be the most “British” of the Australian states, most likely due to the island’s climate. There are four distinct seasons with snow in parts during winter although in Hobart and Launceston it is generally milder than temperatures in the UK. Temperatures can soar in the summer but last for just a few days whereas mainland cities experience prolonged periods of relentlessly high temperatures during summer months.
There’s plenty to do in Tasmania including beach and watersports, bushwalking and other outdoor pursuits. There are also plenty of indoor facilities due to its cooler winter weather – libraries, theatres, art galleries, indoor aquatic and sports centres.
Affordability, good rental returns, low vacancy rates and strong sales are just some of the things that are making investors smile in Tasmania this year. According to recent figures from the Real Estate Institute of Tasmania (REIT), the island achieved its highest number of sales in five years during the first quarter of 2015.
Transaction volume increased 12.1% on last year and the upswing was recorded across the state of Launceston. House sales in Hobart shot up 20.5% on 2014 while Launceston led the charge with 24.9% uplift. 17% of buyers were from Australia ‘s mainland with 16% of purchases made by property investors, an increase of 2% on last year.
John Collidge, President of REIT said, ” These figures are indicative of the Melbourne and Sydney markets being near the top of their run, with many mainland investors looking for other destinations to invest, which are positive signs within our property market “.
Collidge maintains an optimistic outlook for Tasmanian real estate as market confidence improves. Continued strong sales growth in 2015 will see time on market decrease and upward pressure on prices. Low vacancy rates and good rental returns make investment in Tasmanian real estate worthwhile.
Most Tasmanian real estate is coming off a strongly depreciated base, creating opportunities for strong capital growth in the future and remains the most affordable property market in Australia. Investor interest is buoyed further by the state’s rising popularity as a tourist destination, recently winning more awards than any other state or territory at the Australian Tourism Awards – claiming first prize in 10 out of 29 categories.
Tasmanian tourism contributes more than €1.6bn to the state economy each year and directly and indirectly employs 28,000 Tasmanians. The government’s ultimate goal is to attract 1.5 million visitors to Tasmania each year by 2020, creating more than 8,000 jobs in the process.
Tasmanian real estate provides great opportunities for patient investors to achieve good yields with low vacancy rates and the possibility of good capital gains.
 
Article by +Roxanne James on behalf of Propertyshowrooms.com
Chile’s Santiago Office Market Gathering Pace
Chile’s economic stability has been undermined by weakening demand for its valuable copper resources in recent years although it now seems that the country’s commercial real estate sector may save the day.
Santiago is a capital city in transition, actively seeking to reduce its dependence on copper, one of the main pillars of the nation’s economy. With a population of 7 million in a country of 17 million, Santiago is Chile’s primary property market.
As Chile shifts its economy from reliance on the mining sector to financial services, retailing and distribution, Santiago plays a vital role in the success of the transition. Copper is Chile’s number one source of export earnings and prices have plunged as China’s economic slowdown cut demand for copper and other industrial commodities. Chile’s economic growth rate has plummeted from around 5% annually to 2% or less in 2015, according to MetLife Investments Chilean office.
Santiago is considered to be South America’s deepest, most transparent and best-regulated financial market having a well-developed pension saving and investment system that provides capital for local investment in real estate and other asset classes. Retail powerhouses are driving a new wave of investment in warehouse and logistics property as they up their game at home and expand into new markets from Colombia to Brazil.
Factors such as these have garnered Santiago a listing as a high-potential destination in the Cities in Motion Index 2014, published by IESE Business School in Barcelona , which ranks 135 cities on ten dimensions ranging from human capital and technology to public sector management.
Santiago, which ranked 83rd overall posted scores comparable with more developed industrial cities for its economy, governance, urban planning and public management – all features that affect property markets.
The Chilean capital’s real estate market reflects its potential for future performance. Thomas Pablo Verbeken, risk officer for real estate at MetLife Chile said, ” Santiago has become a very deep market, mainly in terms of class-A office space “. He added that the retail sector is highly developed and the warehouse sector showing strong growth, with a much improved outlook for the rest of 2015.
Residential real estate in Santiago is also showing signs of increased activity on the back of commercial expansion in the capital. The city’s luxury market is booming with some top quality developments in the trendiest neighbourhood’s of Santiago reflecting fantastic value for money. You can pick up a luxurious 3-bedroom duplex apartment close to the city centre for around €500,000.
Santiago’s demographic is changing along with the local economy, with rising numbers of professionals seeking family homes in the city’s suburbs. The strongest sectors in Santiago include banking, automotive, chemical & pharmaceutical and Electronics which are firing on all cylinders and rapidly expanding. There is consequently a rising demand for good quality homes for rental and in Santiago, renters tend to be well-paid, highly skilled and interested in long term tenancies which is a great dynamic for property investors.
 
Article by +Roxanne James on behalf of Propertyshowrooms.com
Istanbul Most Popular Destination for Arabs in 2015
Istanbul has welcomed more Arab visitors to the world’s most Googled destination than ever before this year with numbers reaching more than 1.3 million in the first seven months of 2015.
According to data released by Istanbul’s Culture and Tourism Dir…
World’s Largest Indoor Ski Resort Announced in Dubai
Dubai is already home to the largest indoor ski resort in the world which was opened in 2005 in the Mall of the Emirates, boasting a 400-metre slope that saw it entered into the Guinness World Records.
Dubai , known for extravagant projects and scorching temperatures announced the construction of an even bigger ski resort that will beat the Emirate’s own world record as being the largest in the world.
The new indoor ski resort will have a 1.2km run, three times the length of the Mall of the Emirates slope and will form part of a huge hotel, residential, shopping and marina complex known as Meydan One .
The new covered ski resort comes as part of a project that will also include the world’s tallest residential tower at 711m, a dancing fountain sweeping up to 420m, a vast shopping centre and a 350-room hotel and marina, according to a government statement.
The project is estimated to cost up to €6.3bn and will extend from the Meydan race track in the Emirate’s desert to Burj Khalifa, the world’s highest tower, reported Dubai newspaper Al-Bayan.
Meydan chairman Saeed al-Tayer said: ” In a city which never stops innovating, today’s announcement is significant for the future of Dubai and the UAE. “
The first phase of the project will house up to 78,000 residents and should be completed in the next five years, in time for the UAE’s hosting of World Expo 2020, according to its promoters.
Dubai has a reputation for being a liberal city in a conservative environment making it a commercial and financial hub, attracting businesses and expatriates seeking to establish a presence in the Middle East.
Not one to do things by halves, the Emirate’s consistent delivery of cutting-edge innovation in architecture has made its skyline one of the most famous in the world.
Having enjoyed the housing boom for years before everything came crashing down in 2008, Dubai has learned its lessons and its property market has achieved a good level of stability. The Emirate’s hotels and hospitality sector is booming, with government investment pouring into its tourism infrastructure ahead of World Expo 2020.
Dubai has emerged as a tourist destination in recent years as a result of the Emirate’s capital investment in the sector, recording 13.2 million visitors in 2014 with a target of 20 million annually by 2020.
There’s no shortage of investment opportunity in Dubai as the Emirate steams ahead towards World Expo, particularly in its hotel rooms. 11.63 million tourists representing 88% of visitors to Dubai last year stayed in Dubai’s hotels, a number that is expected to increase in 2015 according to The Dubai Department of Tourism and Commerce Marketing .
The region’s press service Gulf News recently reported increasing investment in Dubai’s hotel sector, with buyers attracted by new and lucrative opportunities: ” Investors seeking up to an 8% return on investment are turning their sights on developments which offer such opportunities, particularly those on The Palm Jumeirah. Three developments in particular are worthy of further investigation and are the subject of intense interest at the moment — The Kempinski Emerald Palace Hotel, Anantara Residences and The 8, all on The Crescent. “
With Dubai’s property market holding steady so far in 2015 and the anticipated demand for hotel rooms increasing yearly, now may be the time for investors to strike.
 
Article by +Roxanne James on behalf of Propertyshowrooms.com
Business Partners
