NEWS

Nine banks agree on US$2b settlement to forex rigging suit

Posted by on 6:33 am in News | Comments Off on Nine banks agree on US$2b settlement to forex rigging suit

Nine banks agree on US$2b settlement to forex rigging suit

NEW YORK, Aug 14 — Nine major banks accused of foreign-exchange rigging have agreed to pay more than US$2 billion (RM8.13 billion) to investors in settlements, a law firm involved in the process said yesterday.

Plaintiffs have “reached…

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Asian currencies set for worst week since 2008, ringgit at 17-year low

Posted by on 5:33 am in News | Comments Off on Asian currencies set for worst week since 2008, ringgit at 17-year low

Asian currencies set for worst week since 2008, ringgit at 17-year low

KUALA LUMPUR, Aug 14 — Asian currencies headed for the worst week in seven years as China’s surprise yuan devaluation deepened concerns about a slowdown in the world’s second-biggest economy.

Malaysia’s ringgit and Indonesia’s rupiah sank to…

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Yuan steady as China central bank halts decline, stocks swing

Posted by on 3:20 am in News | Comments Off on Yuan steady as China central bank halts decline, stocks swing

Yuan steady as China central bank halts decline, stocks swing

BEIJING — The yuan stabilised as China’s central bank strengthened its currency’s reference rate for the first time since Tuesday’s devaluation. Asian shares fluctuated, while US oil and industrial metals in London headed for their seventh…

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As glut appears to persist, oil heads for seventh weekly drop

Posted by on 3:12 am in News | Comments Off on As glut appears to persist, oil heads for seventh weekly drop

As glut appears to persist, oil heads for seventh weekly drop

NEW YORK, Aug 18 — Oil headed for the longest run of weekly declines since January amid signs the global glut that’s driven prices to the lowest in six years will be prolonged.

Futures were little changed in New York, down 4.2 per cent in the…

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Ringgit continues decline against US dollar

Posted by on 2:13 am in News | Comments Off on Ringgit continues decline against US dollar

Ringgit continues decline against US dollar

KUALA LUMPUR, Aug 14 — The ringgit opened lower against the US dollar today as foreign banks continued to offload the local note, a currency trader said.

At 9.20am, the ringgit was quoted at 4.0360/0430 against the greenback from 4.0080/0130 at…

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KL shares up slightly at opening

Posted by on 2:07 am in News | Comments Off on KL shares up slightly at opening

KL shares up slightly at opening

KUALA LUMPUR, Aug 14 — The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened slightly higher today despite a decline in Wall Street’s overnight performance, said a dealer.

At 9.10am, the index was 3.44 points better at 1,625.06, after opening…

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Asian stocks head for fourth weekly fall after yuan devalues

Posted by on 1:32 am in News | Comments Off on Asian stocks head for fourth weekly fall after yuan devalues

Asian stocks head for fourth weekly fall after yuan devalues

TOKYO, Aug 14 — Asian stocks headed for a fourth weekly decline as investors weighed the impact of China’s devaluation and the timing of a US interest rate increase.

The MSCI Asia Pacific Index fell less than 0.1 per cent to 138.35 as of 9.08am…

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Wall Street ex-trader swaps arbitrage for AirAsia’s ambitions

Posted by on 12:37 am in News | Comments Off on Wall Street ex-trader swaps arbitrage for AirAsia’s ambitions

Wall Street ex-trader swaps arbitrage for AirAsia’s ambitions

KUALA LUMPUR, Aug 14 — Aireen Omar juggled numbers as an arbitrage trader on Wall Street more than a decade ago.

Now, as chief executive officer of Malaysia’s low-cost carrier AirAsia Berhad, her juggling act extends beyond figures.

She’s…

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Worst of yuan rout over as China in control, Nomura says

Posted by on 12:30 am in News | Comments Off on Worst of yuan rout over as China in control, Nomura says

Worst of yuan rout over as China in control, Nomura says

BEIJING, Aug 14 — The biggest selloff in China’s yuan in two decades inevitably evoked the memory of the Asian crisis during the late 1990s.

Such a comparison is unwarranted as China has enough firepower to control its currency market, according…

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St Vincent and the Grenadines’ New Airport on Target for End of 2015

Posted by on 9:05 am in News | Comments Off on 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

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Tasmanian Real Estate a Hit with Investors

Posted by on 8:01 am in News | Comments Off on 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

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Chile’s Santiago Office Market Gathering Pace

Posted by on 8:11 am in News | Comments Off on 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

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Istanbul Most Popular Destination for Arabs in 2015

Posted by on 8:36 am in News | Comments Off on 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…

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World’s Largest Indoor Ski Resort Announced in Dubai

Posted by on 8:25 am in News | Comments Off on 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

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Controversial Rent Caps come into Force in Paris

Posted by on 8:17 am in News | Comments Off on Controversial Rent Caps come into Force in Paris

August 1st saw all new or renewed rental leases in the French capital being capped as President François Hollande made good on one of his key 2012 campaign promises for sweeping housing reform.

The rent control regulations will limit rents in Paris to 20% above and 30% below a neighbourhood’s average and is based on apartment size, year of construction and location with an additional surcharge for luxury homes.

However, critics say that real estate investors will be deterred from the Parisian market and while the wealthiest tenants stand to benefit from the new rent caps, less wealthy renters are likely to suffer.

Critics Warn New Regulations will Deter Property Investors

Jean-Francois Buet, chairman of FNAIM, France ‘s largest residential property-broker federation said the mechanism is ” dangerous because the framework is deterring investors who, faced with the lack of freedom will choose other investments “.

There are rising concerns that the regulations will slow renovation works by apartment owners, increase landlord-tenant litigation and create affordability issues for many existing tenants, according to residential property managers Foncia.

When the rent control proposals were published in June this year, Foncia Chairman Francois Davy said: ” The most expensive rents will probably drop but still won’t be occupied by modest-income earners. An apartment rented for €10,000 per month in a fancy neighbourhood will drop by 30%, while in more working class areas an extremely low rent risks climbing 10% on average “.

80,000 Paris Rental Leases affected by New Legislation

Around 80,000 new rental leases are signed in Paris each year with around one in five being subject to capping, according to Observatoire des Loyers de l’Agglomeration Parisienne (OLAP), the association mandated by the government to compile Paris rents. OLAP report that of these a third will drop by less than €50 per month, a third by €50-€100 and the rest by more than €100.

The measure could decrease the rent for around 60,000 dwellings in the capital in the coming years, according to business daily Les Echos. It could also raise rents for around 25,000 homes, the French newspaper added.

However there is strong public support for the new regulations and also from France’s main environmental party, Europe Ecologie-Les Verts with spokesperson Sandrine Rousseau commenting: ” It’s a strong step for social justice as rents have climbed by 42% in the capital over the past 10 years “. The party is calling for the rent cap to be extended to all cities that face a ‘tight’ housing market.

The rent controls are the first major step taken by Francois Hollande to make good on his manifesto promises for national housing reform. The new law seeks to cap rent increases from one lease to the next in the country’s largest cities as part of the reforms, known in France by the acronym ALUR.

Rent Reforms Ultimately to be Applied Nationally

Opinion polls in France have shown that 75% of the public supported the price-capping measure with criticism coming unsurprisingly from estate agents and landlords Associations who have denounced the law, vowing to drag officials that wish to implement it into legal battles.

France’s National Federation of Real Estate Professionals (FNAIM) said the law constricted the housing market and would dissuade potential buyers from investing, suggesting it could file a suit with France’s Council of State. Estate agents in Lille have reportedly blocked efforts to apply the law in the northern French city by withholding housing and rent data from authorities.

Just two French cities apart from Paris are considering establishing rent controls – La Rochelle and Grenoble. ” Housing in France is 50% more expensive than in Germany. It is a burden on families and limits their purchasing owner, ” Grenoble Mayor Eric Piolle told France Inter radio this week.

In many respects rent controls can work well for property investors and are particularly helpful when negotiating a price, because rental incomes are cast in stone making it easier to nail your margins. With a legally established framework preventing unscrupulous landlords from cashing-in on Paris’ massive popularity, property prices may well slip back into the realms of affordability sometime soon.

Article by +Roxanne James on behalf of Propertyshowrooms.com

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Maximise your FOREX advantage with Excel Currencies

Posted by on 8:11 am in News | Comments Off on Maximise your FOREX advantage with Excel Currencies

Property investment in 2015 has a slightly different complexion to previous years, which is witnessed mostly at the high end. There is a new liquidity in real estate markets that reflect the considerable volatility seen in FOREX markets this year.

Buyers from Russia, are safekeeping their capital from a fallen rouble in Central London’s prime property markets. British buyers are looking to the Eurozone for improved value against sterling. The US Dollar investors are enjoying an international free rein with the greenback currently riding high as the world’s strongest currency.

Naturally, it follows that when making a real estate purchase in another currency, the exchange rate you achieve can have a significant effect on the property’s value and also its yield potential. For that reason, it’s always best for investors to align themselves with FOREX professionals when it comes to currency conversions towards a property purchase.

Excel Currencies are a world-leading provider of foreign exchange and have been offering preferential FX rates for all currency conversions (particularly to property investors) for many years. Excel’s clients range from individuals to large corporations and their FX rates remain some of the most competitive across the board.

Customer service is crucial when you are dealing with large sums of money in various currencies and Excel take it very seriously. Managing Director Karl Daly says; ” Excel Currencies strive to provide the best level of customer service and guaranteed unbeatable exchange rates. These coupled with our up-to-the-minute market analysis enables us to maximise our clients’ return for their money “.

Excel Currencies guarantee to give you a better exchange rate than your bank, passing on savings to you of around 5%, which on a transaction of £100,000 is a significant reduction of £5,000! Excel obtain the best FX rates because they use a panel of currency providers rather than relying on one source, as many other foreign exchange providers do.

No commissions or fees of any kind

They also charge no commissions or fees of any kind, which makes a big difference to how much you gain from a currency conversion. Excel makes its money from the spread (the difference between the rate they quote and the interbank rate) and so maximum savings are always passed on to you.

If you know you are completing on a property purchase in a different currency, you can fix the exchange rate for a future date with Excel. Their ‘forward contract’ product allows you to fix a rate today with a 10% deposit, for any date up to 2 years in the future. Perhaps you need to pay a deposit and settle the balance on completion in three months’ time? You can fix the rate for both transactions at the same time if the rate is to your advantage.

Buying a property in any currency can be complicated and expensive. That’s when you need someone inside FOREX markets to make sure you always get the very best FX rates. Excel Currencies have more than 35 years combined experience of specialising in foreign exchange. Plus, they consistently deliver unbeatable exchange rates for property buyers in all countries around the world.

When buying or selling currency with Excel, your funds are held in one of a number of pooled client trust bank accounts that fully comply with FCA regulations. You are secure in the knowledge that funds can be only used to fulfil your contractual obligations and not for any other purposes, which is a bonus.

 

Article by +Roxanne James on behalf of Propertyshowrooms.com

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There’s more to Orlando than Disney World!

Posted by on 8:29 am in News | Comments Off on There’s more to Orlando than Disney World!

Orlando, Florida has been synonymous with Disney since first opening what was originally called the Magic Kingdom to universal acclaim in 1971. However, these days there is much more driving property investment in Orlando than Disney World and the year-round Florida sunshine.

Dublin-born Garrett Kenny, founder of local property consultants Feltrim Group said: ” Orlando is still one of the world’s prime destinations. It now attracts over 60 million visitors every year which represents huge recent growth. But the area is also fast- becoming a major hub for aerospace, life sciences, R&D, medical, digital tech and business services such as call centres. “

” What we’re seeing here reminds me very much of how Dublin positioned itself over the last number of years as an innovation hub. There is no state income tax and major international corporations are moving operations here. “

This is good news for the savvy property investor because a new demand-stream has emerged in Orlando that could possibly present better yield opportunities. Renting out a property on a long term basis to a professional working in the area is going to supply more consistent rental income than holiday rentals. Whilst it’s possible to charge more for short term lets, there are the void periods, changeover cleans and more ongoing maintenance requirements to consider that don’t apply to the same extent with longer tenancies.

Orlando has been a popular destination for British property investors for many years with buyer-interest set to increase on the back of the dynamism of the local economy. Currently outperforming most other US states in terms of economic growth, Orlando is very much in focus as an investment hotspot.

Projects including the I-Drive 360 retail and entertainment complex, a new hotel at Universal Orlando and the construction of a soccer stadium in downtown Orlando are currently in construction. International names like Deloitte, Verizon and Voxx International are stepping up local operations, and adding hundreds of higher-paid jobs to Orlando’s labour market, drastically reducing unemployment numbers in the Sunshine State.

The indications are that Orlando is a leader in Florida’s economic expansion in terms of percentage of total jobs being added. Sean Snaith, economist at University of Central Florida said: “The Orlando metro area is by our forecast the fastest-growing metro area in the state for jobs. That is fuelled by the I-4 projects (infrastructure), Wekiva Expressway, SunRail, robust population growth, new companies here and yes, the expansion of tourism again.”

It seems Orlando is on a steep growth trajectory making it a great time to be looking at investment property in the area.

 

Article by +Roxanne James on behalf of Propertyshowrooms.com

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Beside the Seaside in the Heart of Paris

Posted by on 8:26 am in News | Comments Off on Beside the Seaside in the Heart of Paris

While researching for yesterday’s article about Dubai’s beaches scoring high on the Telegraph’s list of the world’s most popular beaches , I found out something I didn’t know! Nestled in the Telegraph listing was Paris, which to my certain knowledge has no coastline and so how can the city be home to some of the world’s most popular beaches?

Naturally, I had to ask Google for the answer to this question and I have to say, the answer is quite delightful!

Every summer, urban beaches called ‘ The Paris Plages ‘ appear across the banks of Parisian rivers and canals, captivating residents and tourists from around the world by the City’s transformation to one of the most sophisticated beach resorts in the world.

Vast amounts of sand are brought into the centre of Paris to create the artificial beaches and riverside streets are blocked off to traffic. Lounge chairs are lined up facing the water in a strange juxtaposition to some of Europe’s most iconic architecture and ice-cream vendors wander through the crowds as they relax on the impromptu seaside.

Watersports are big during the Paris Plages season which runs from the third week of July and through most of August, with kayaking, canoes and sailboats available with qualified instruction free of charge. There are beach volley ball games, pedalos, free concerts, plenty of bijoux eateries and everything else you would expect at a beach even though you’re at a fake seaside in Central Paris!

The Paris Plages have remained a completely unique phenomenon since the first beach opened in 2002, along the riverside near the Louvre Museum to the Pont de Sully that crosses the river over the Ile de Saint Louis. There is no swimming allowed in the rivers but there are swimming and plunge pools together with a concert stages hosting free evening performances, rock climbing walls and boardwalk style cafes.

It just sounds so good the idea of buying a pied à terre in one of Paris’ trendy arrondissements has regained pole position on my ‘places to buy if I win the lottery’ wishlist.

It didn’t take long for me to locate my dream property on propertyshowrooms.com! I found a bijou one-bedder on the 18th arrondissement that fits the bill completely. If you’re buying in sterling you can currently snap this property up for just £380,000 and even though the apartment is just 55m², it is located in one of the typically gorgeous Parisian residential blocks, nestled among the vibrant City’s streets in an area consistently sought-after by property investors.

Imagine awaking to this scene from your pad on the 18th arrondissement, Paris

According to Airbnb, an apartment of this size on the 18th arrondissement would command a holiday rental of up to £150 per night through The Paris Plages season in summer. That’s not a bad return on your investment considering you can still easily achieve up to £100 per night during the winter months.

Paris is a one-off city. Completely unique, it never fails to surprise in the most delightful way and that’s why it remains the world’s most popular destination to visit year after year. If you can find an affordable entry point into Parisian real estate, you are guaranteed to be on to a winner.

 

Article by +Roxanne James on behalf of Propertyshowrooms.com

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