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For about ten years from the mid-90s housing markets...In Europe and the US housing continues to become cheaperFor about ten years from the mid-90s housing markets of the USA and many European countries were in the process of rapid growth. During the period in Holland, Sweden, great Britain, France and several other countries, average prices have doubled, and in Ireland has tripled. Doubling, but for five years, from 2000 to 2005 occurred in Spain.In 2006, however, the situation began to change rapidly: in most parts of the planet real estate prices go down, mortgage terms have tightened, to build smaller and so on, tells "meet and Partners.Most strongly crisis hit America, where in 2007, about 2 million people lost their homes due to the inability to pay the mortgage. Interestingly, according to Deutsche Bank Research, a significant share of the European markets have evolved synchronously with the American.A particularly high correlation was in Britain, Holland, Denmark, Ireland, Spain, France and Sweden. And yet there are still places where the cost of living continues to rise or has potential for growth.On the declineThe decline in the U.S. real estate market continues. More recently, experts have bodilis: "a Month or two and everything will stabilize". Now even the optimists are not ready to assert that the market will begin to improve before the summer of 2009. Stronger just in the last year has fallen in price real estate in those cities where it is most actively rose in price a few years ago. According to the index Case & Shiller, housing in Los Angeles fell for the year by 26% in Las Vegas - 30% in Miami by 28%. Sales of single-family homes in the country fell by 35%.Not much, but still fell new York-7%. This fall, few people were waiting. Was the theory that new York as a place for the headquarters of the largest corporations in the world and the main financial center of the planet ceased to be just a city, but went to another level, which is called the global city. This gave hope that the crisis will pass it by. It turned out that the connection with the American situation is still there. Now analysts fear expect waits of the city in connection with the dismissal of 65 thousand servants of wall street.Since October 2007 the continued drop in property prices in the UK. According to the largest mortgage companies in the country Nationwide Building Societies, the average house price for the year fell by 12.4%. Independent experts say that prices have fallen by at least 20-30%. Realtors and developers fear that the official rate of decline increasing all the time: in September they amounted to 1.7%. The average home price in England in September 2008 reached 161 thousand pounds. Beginning of market recovery experts expect not earlier than 2010.In Spain, according to the National Institute of statistics (National Institute of Statistics) for the second quarter of 2008, the cost of housing in the secondary market decreased by 5.8%. Published figures sparked harsh criticism from independent experts. In fact, the public authority was accused of rigging the numbers for the sake of calming the public and investors. A number of major Spanish developers went bankrupt, and real estate company is actively shutting down branches.By the way, about the indexes. In Europe and the USA they are more objective than in Russia (beyond the fact that considered on actual transactions and not on offer prices), but far from perfect. They contain certain elements of regulation to "help" to avoid panic in the market. That is the reality of falling prices is much higher than the indexes.Thus, recently, a friend returned from England, where he lives with his wife, and said: "the Owners of flats in Fulham, she takes off, for about a year trying to sell it. For steady sixty apartment with a private entrance and a small garden then they asked 700 thousand pounds. Now they dropped to 450 thousand, but at this price can't find a buyer". That is, in this case, the price fell by 40%, and this is not the bottom.Absolute world leader in the fall of housing prices - Latvia. During the year, the cost of housing here fell 33.8%. This figure calls for international real estate Agency Global Р roperty Guide. Latvians themselves more modest estimate drop - in 21%, which, however, also guarantees the first place on the planet. The history of the local market is simple: the mass development of the mortgage rapidly unwound rates ( 60% for 2006). However, small local market, and speculators have overestimated its capacity. In 2008, when they wanted to take profits, it turned out that there are no buyers.