Summary: If you are planning to buy a seaside villa, then this article could be useful as far as the various tips and suggestions are concerned.
There are many reasons why buying a seaside villa is worthwhile. First and foremost it is without doubt a great investment. Almost each and ever villa, especially in the sea-side have show tremendous growth in value over the past few years. You could also enjoy the luxury of a great villa along with your family at least once or twice a year. You will save the cost of accommodation when you visit these seaside resorts.
While the above are indeed great news, you have to exercise care and caution when you are planning to buy a villa. First and foremost, you must be able to identify the right villa. This is easier said than done because there are dozens of villas in almost each and every seaside resort. Choosing the right sea location is also very important. There is no doubt that Cyprus offers some of the most breathtaking seaside views and buying a villa without any doubt is a great experience to say the least.
Whether you are a first time villa buyer or an experienced one, you have to take the help and assistance of professionals to get a move on. Valuation of property involves estimation of the current price of the property prevailing in the market. property valuers sa You will have to seek their help and assistance for more reasons than one. Their services are needed not only for getting a fair market value of the villa that you are planning to buy. They also play a big role in helping you to find out more about the location of the villas, the size, the age and most importantly it present condition. You have to bear in mind that seaside villas are often at higher risk of damage caused by the elements of nature.
It is therefore quite normal for valuers to have a look at the insurance premium being paid by the present villa owners. The higher the premium the higher is the risk of damage by various elements of the nature. Further, when buying a villa it should always be situated facing the sea front failing which the entire purpose gets defeated. Hence buying a villa requires going through various due diligence processes.
Development activity in the suburbs is limited. The most significant project is at Victoria Quay in Fremantle. A new 16,000sq.m office development is proposed in conjunction with 12,000sq.m of retail space. The first stage of the project (3,500sq.m) is due for completion in 2005. A small 2,500sq.m building is also proposed at Belmont on the corner of Cleaver Terrace & Belmont Avenue.
The reason for hiring a property valuer is to avoid any type of error in the process and because of that it has become a compulsory process to appoint a special person known as property valuer to deal with your full process. This will make you known with your price of yourProperty valuersand then you will be able to choose your decision of selling your property or making it more attractive for selling.
Not helping their cause is the rise in incentives, a fight back from landlords, and fewer large tenant requirements in the market. Many of the major lease expiries have now been placed, most in existing buildings. Given the less favorable outlook for development and the inability to secure a pre-commitment, a couple of schemes have been turned to residential or scaled back. The project with the most potential could be the AXA site on St Georges Terrace. The Pivot Group has recently secured an option to purchase the site and given their successful development in West Perth, this could be a sleeper. Around 25,000sq.m of office space is proposed. A small 7,200sq.m building is also proposed for the CTA site adjacent to Allendale Square.
Development sites are disappearing in West Perth, particularly along Kings Park Road. In West Perth, the new RACWA headquarters (10,000sq.m) has commenced at 840 Wellington Street. A small 2,000sq.m suite building at 38 Colin Street is nearing completion.
The majority of development in the fringe is occurring at Subic. This locale has been re-invigorated as a cosmopolitan commercial/retail centre following the success of the Subic Central project. A new 6,000sq.m development for CSC has just been completed on the corner of Hay & Roberts Street, and a new 6,000sq.m building for News Limited is proposed on the Futures site.
The steps that are needed to conduct in the process of property valuation are the compulsory one to make it more attractive and usable according to the clients or the one who is going to buy that property.www.brisbanepropertyvaluations.com.au
Knight Frank’s Perth leasing team measures availability of space on a monthly basis for both the CBD and West Perth. The methodology is different to the PCA’s vacancy statistics as it includes all space on the market available for lease. Double counting is avoided (when a new lease is signed) by positively accounting for the tenant in the new premises rather than their current address.
We believe our methodology is more reflective of the entire range of opportunities for tenants in the various quality stratums of the market. Thus we believe that it is a more representative view on the state of the leasing market.
There is now 250,000sq.m of space available in addition to new developments chasing pre-commitments. The availability rate stood at 18.5% in February, a massive 7.1 percentage point’s increase over the past year.
The most significant increase has been in the A grade buildings, where the availability rate has surged to 21.6%. This is over 7.5 percentage points higher than 12 months ago. Much of the increase has been due to the impending movement of tenants into the premium grade towers and new buildings. Here is over 36,000sq.m of space available in 1 Adelaide Terrace and the AMP tower following relocations by Woodside, Free hills, & CSC alone. Much of this lies with Woodside’s space in Central Park which is being vacated shortly when they move to Woodside Plaza. With the majority of larger tenants located in the Premium & A grade buildings, these buildings have been most exposed to the current round of lease expires. Exposure will continue into 2004/05.
Availability rates in the B & C grade buildings stand at 23.2% & 10.6% respectively. Approximately 50% of the available space is in the secondary grade buildings. There is less than 33,000sq.m of space available in West Perth, representing an availability rate of 8.9%. The majority of this lays in the secondary grade buildings, with less than 9,000sq.m of A grade space available for lease
London has also benefited from the Sarbanes Oxley Act of 2002, which tightened US corporate governance regulations in the wake of several high-profile accounting scandals in the US. Costs and London has been a major beneficiary of this source of business.
Bilateral trade between the UK and China has more than doubled since 2001 to £17 billion and according to figures released attracting 15% of all Chinese FDI into Europe since 2002, the highest share for any European city, and one third of the UK total. There are now some 370 Chinese companies investing in the UK, including 160 from Hong Kong.
Analysts at Think London predict that the growth of Chinese investment will continue to accelerate at a rate matched only by the growth in Indian FDI. Indian FDI is already significant with 52 projects located in the UK in 2005 alone, second only to the US (289 projects).
Property valuation Process Brazil currently lags the other BRIC nations in terms of inward investment into the UK, however, in its latest report, UKTI states that it expects investment decisions from Brazil to be announced imminently.
Russian purchasers have been prominent in the UK residential market for a number of years, as have Indian buyers although the latter group has been less high profile given the long established presence of the Indian community. Chinese buyers have predominantly come via Hong Kong, although as regulatory control is increasingly liberalised we expect to see growth in direct investment from mainland China. Brazilian buyers are comparatively rare, however, if the pattern of other emerging economies is followed then once a stream of FDI is established, investment in property markets will follow.
When buying for their own use Indians prefer large, traditional single floor apartments. St John’s Wood has emerged over the last two years as an alternative to the traditional prime London addresses, offering spacious properties and private gardens which are sought after but rare in central London. Purchases in the top price sector are commonly made through offshore trusts or corporate entities.
The increase in FDI from the Asia-Pacific region is reflected in the growth in residential purchase activity in the UK. Between 2005 and 2006, buyers from the region increased their market share among overseas buyers in prime central London from 1.3% to 6.1%, of which around one third were Chinese. We anticipate that the pronounced increase in Chinese FDI in London will trigger strong buying growth in the prime residential market as executives on longer term contracts seek properties for owner occupation and domestic Chinese investors grow more comfortable and knowledgeable about investment opportunities.
The most important and beneficial process that you have to conduct properly is about only property valuation which will give you an approximate estimation in the price of your house.West Coast Valuersare the most prominent valuers to make the valuation process performed successfully.
At present, Chinese investor activity is concentrated predominantly on the Asia-Pacific market and further afield North America especially in Canada. Chinese investment in foreign residential markets is forecast to increase as HNWIs look to export their capital to stable economies. In light of recent legislation introduced by the Chinese Central Government in May of last year aimed at cooling the rate of property price inflation in the major cities, the returns achieved in UK investments may look more attractive to Chinese investors.
The UK is the most popular investor destination outside of the Far East for Hong Kong buyers whose focus is typically on the apartment sector at prices between £300,000 to £600,000 depending on location. There is also some interest in prime locations such as Knightsbridge and Belgravia where budgets will typically range between £1 million and £2 million+.
London attracts the greatest number of Hong Kong investors, however, regional centres are also considered as they offer robust Investors are particularly interested in locations close to major employment areas and amenities (especially transport infrastructure), and are less interested in the prestige of ‘destination addresses’.
The typical hold period will depend upon the intended usage of the property. Some buyers will acquire properties for use by their children whilst studying in the UK and may retain them should the children stay on in the country to work.
It is not uncommon for buyers to retain their UK properties for between five to ten years as they view UK as a relatively stable market offering a favourable taxation system for overseas purchasers. With regard to expat buyers, they generally acquire property as part of their pension plan and will tend to go in and out of the market depending on cycles and exchange rates.
Location is paramount for Russian buyers as they typically acquire for their own use rather than for letting purposes as the returns from London are not comparable to those achieved in Moscow. However, we believe it is only a matter of time before they buy for purely investment reasons.
Russian investors are conscious of the current domestic volatility of an emerging capital market economy, a situation that may become more uncertain after the 2008 Russian elections property valuation Therefore properties sought must offer excellent security as families may be moved to the capital on a permanent basis.
However, Russian buyers are in evidence outside London and between May and September 2006 Russians accounted for over 8% of Knight Frank sales of country properties above £2 million and just under 39% of properties above £5 million property valuer online Tax can impact negatively upon an otherwise sound investment. In this regard, the UK offers considerable advantages as it has relatively low tax rates compared with many other European countries, and it offers exemption from tax on income from foreign investments for people who are resident but not domiciled in the UK.
There are various forms of offshore vehicles, otherwise referred to as non-resident companies, and offshore centres (the IMF listed no less than 64 in 2000) which in addition to tax benefits can offer other advantages such as simplified reporting requirements and anonymity. However, their level of regulation, supervision and compensation schemes vary so it is important to seek advice before investing in an offshore jurisdiction. In addition, offshore financial centres have been obliged to tighten their regulations in recent years and anti-avoidance legislation in the UK has reduced the tax benefits which UK domiciliary derive from offshore companies.
The fundamentals which underpin foreign buyer interest in UK residential property are unlikely to change significantly in the foreseeable future: stable economy, transparent legal system, tax-friendly regime for foreign buyers, large and dynamic residential property market offering good capital growth prospects, plus, in many cases, historic educational, cultural and business links. Language is also a key factor.
We foresee further growth in Russian buying activity, of the order of 10% per annum over the next two years, driven by the uncertainty surrounding the outcome of the approaching May 2008 Russian general election and the expansion of the HNWI population in Russia. With advantageous tax planning becoming widely available from many premier law firms and accountants, buying in the UK is becoming a very attractive option for many Russians.
Closer to home, Irish and Middle Eastern buyers are likely to remain enthusiastic about the UK residential market. The Irish story is a remarkable one: with a population of just over four million, Ireland has the fourth highest GDP per capita based on OECD power-purchasing parity. Attracted by the strong performance of UK residential property and encouraged by tax advantages, Irish investors have become major buyers of new homes in the UK.
With real estate in vogue as an asset class throughout much of the world and likely to remain so at least for the remainder of this decade, high quality analysis and inter-market comparisons have become essential. The combined research resources of Knight Frank Grubb & Ellis represent one of the largest concentrations of property market data and information in the world. With mounting cross-border investment flows, good advice has become a good investment.
property valuations The scope and scale of this report means that it is necessarily general in style and content. Knight Frank Grubb & Ellis look forward to working with our clients in generating optimum investment strategies throughout and across all global markets based on comprehensive research and best-in-class professional expertise.
The international real estate industry traditionally has a poor track record in listening to economic commentary and developing suitable responses to economic signals. At a general, global level, that has changed profoundly over the past few years. the real estate community has become hyper-sensitive to the need to match strategy with economic shift.