Hello
Welcome to the December edition of Property Venture's monthly e-newsletter, for opted-in subscribers, seeking to provide you with newsworthy stories from the places we help people buy in.
This month we feature:
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The latest on which countries are faring better in the recession
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Morocco property in Mediterranean Sports Complex
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Is Spain bottoming out? And how cheap are the property deals direct from banks?
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Special offer-top tips on what you need to know about investing and renting abroad
Introduction - so how are other countries faring?
Whilst we hear of the UK economy dipping early 2010 and possibly proving more resilient by the end of the New Year and the Dubai World shock news, it is easy to forget there are other countries, which have not actually gone into recession.
Poland is the only EU country out of the 27 member nations, to achieve positive economic growth in the 2nd quarter of the year, with GDP +1.4% year-on-year in Q2. Polish GDP growth is to top 2% in 2010, according to central bank's Monetary Policy Council.
Now Poland has inward investment that has helped drive these figures e.g the road-building programme amongst other infrastructure projects, co-funded by EU. But let's not forget, it is hosting the UEFA football championship in 2010, so think of the house price effect. And so yes, some of the Poles have gone back over there, to build some of those roads and stadia. I often get asked about whether any Poles are left in Poland!
All this is interesting to note if you are seeking to build a balanced portfolio of property investments. Not all countries dip at once, or in the same way, or to the same extent.
Moroccos economy has also proved solid in the global recession. GDP growth is expected to be circa 5% '09, only slightly less than 2008, owing to strong domestic demand & agricultural production (according to the IMF). It is also only just establishing itself on the World stage as a seaside holiday destination, with the opening of its first mega-resort Saidia. Unlike some overseas property markets, it is just emerging, rather than suffering from a glut of supply.
All in all, some positive sentiment is returning, as a recent international McKinsey Survey showed: 47 % of business executives expect GDP growth to return to preSeptember '08 levels in 2010/11 vs 40 % 6 wks ago. So next year looks to be a bit of a turning point.
Morocco
Featured property
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Le Village de Sport is has been created with the concept of relaxation, leisure and luxury. The on-site facilities include golf and a lake. More on this property. Other Moroccan property
News
Is Spain bottoming? And are banks a good source for cheap property?
So what is the reality of the situation in Spain? Have house prices fallen sufficiently and are now on the rebound ? Distressed property sales through banks sound great, but are they always cheaper and suitable for overseas buyers? .....Read More
Special Offers
Have you ever thought any of these things?
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What are tenants looking for in a holiday home?
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How do I deal with language differences when buying/ holidaying abroad?
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Where should I start when investing in a holiday home?
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How can I hear a holiday-maker's, a landlord's and an agent's perspective?
If so then you might be interested in What you should know about investing in, and renting, Overseas Property brought to you in conjunction with Totstotravel and 4 Walls Click here If you think someone else could get something out of this newsletter, please forward it on. To subscribe please click here. For previous copies of our newsletter with tips and offers click here
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Property Venture® helps people buy property abroad with common-sense advice, in countries like: Poland, Spain, Bulgaria, Cyprus, Montenegro & Morocco.
Warm Regards
Louise Reynolds
Director |