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Become a nomad in Morocco

www.ready2invest.com — Mon, 12 Apr 2010 23:00:00 GMT

The Guardian newspaper recently featured an article on ancient walking trails that are still accessible today. Among the four trails highlighted was one in Morocco where the semi-nomadic Ait Atta tribe walk mountain paths between Jebel Sahro and the High Atlas. Tourists are now able to accompany the tribe and their huge flocks of sheep and goats on their twice-yearly migration.

Istanbul top for real estate development prospects

www.ready2invest.com — Sun, 11 Apr 2010 23:00:00 GMT

Firsttime buyers could benefit from lower loantovalue mortgages-290110

www.ready2invest.com — Fri, 29 Jan 2010 00:00:00 GMT

First-time buyers could soon find it easier to make their first steps onto the property ladder, according to new figures.

Price comparison site moneysupermarket.com found that the number of 85% loan to value deals on the market have risen 22% since December 2009. This means that there are now over 350 mortgage products available to those with a 15% deposit.

Paul Holmes, chief executive officer of Firstrung, said that the lower deposits will "undeniably" help more first-time buyers "as the deposit level is a lot more attractive than coming up with 25 to 40%".

"It would be interesting to know what the rates are because they really have to be around [the] 5% mark to be competitive. They [also] need to check that there are no hidden charges in terms of upfront fees," he said.

Mr Holmes believes that the major difficulty being faced by first-time buyers at the moment is finding and keeping a suitable job.

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Cornwall property prices saw biggest increase in 2000s-280110

www.ready2invest.com — Thu, 28 Jan 2010 00:00:00 GMT

Cornwall could prove to be a new UK property hotspot after figures revealed that towns in the county experienced some of the highest levels of price growth in the last decade.

The figures, released by the Halifax, show that the town of Redruth recorded the biggest price rise in the noughties of 207%. Significant price increases in Penzance and Helston mean that 3 of the 4 towns which experienced the largest gains are in Cornwall.

However, in terms of regions it was Yorkshire and Humberside which saw the largest price increases of 130%. Greater London and the south-east saw the smallest gains of 80% and 85% respectively.

On average UK house prices increased by 105% in the ten years between the 4th quarter of 1999 and the 4th quarter of 2009.

Martin Ellis, a housing economist at Halifax, said: "The majority of towns that experienced the strongest price growth began the decade with lower than average property prices, which provided the platform for bigger price gains."

"Seaside towns fared particularly well as the attraction of having a home on the coast helped to boost demand," he added.

Halifax recently released research which showed house prices have increased by 273% in real terms since 1959.

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Confidence boost will increase UK property market activity-270110

www.ready2invest.com — Wed, 27 Jan 2010 00:00:00 GMT

Reports about the growing confidence in the UK property market will lead to an increase in buying and selling activity, it has been suggested.

The Little House Company, which is an online directory service for property sellers, said that as the UK heads out of recession there will be an increase in the "feel good factor".

A recent report by Rightmove found that house prices increased by 1.2% in the first week of the new year, which was driven by the number of optimistic sellers increasing their asking prices. It also found that 53% of people expect house prices to increase within the next 12 months.

Jane Marr, company director at the Little House Company, said: "Consumer confidence is catching and more reports like this will only serve to get those thinking about buying and selling property off the fence."

She added that the upcoming general election could be a factor behind the renewed sense of optimism within the market.

The level of housing stock on the market is currently at its lowest in a century.

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London offers property investment opportunities-260110

www.ready2invest.com — Tue, 26 Jan 2010 00:00:00 GMT

Opportunity still exists for those looking for property investments in central London, it has been claimed.

According to real estate specialist London Central Portfolio, the market in the capital is set to make up for lost growth over the last couple of years and return to long-term trends as it continues its recovery.

"There is still a window of opportunity to enter the London central property market," said Naomi Heaton, chief executive at the organisation.

"The low cost of sterling makes London particularly attractive to overseas investors at this time."

She added that the residential sector in central London also benefits from not being heavily dependent on mortgages because of the large number of cash rich buyers, and due to its reputation as a hedge against inflation, which is predicted to rise in coming years.

Last week Primelocation.com reported that the average prime property cost £450,633 in January 2010 - a fall of 0.7% compared to December 2009, but a rise of 3.8% on January 2009.

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Mortgage lending figures show quot;surprising strengthquot;-230110

www.ready2invest.com — Sat, 23 Jan 2010 00:00:00 GMT

The latest lending figures from the Council of Mortgage Lenders for December showed "surprising strength" during a traditionally quiet time, according to Your Mortgage.

Gross mortgage lending last month reached an estimated £13.7, an increase of 14% on November 2009 and a 3% rise year-on-year.

Paula John, editor of Your Mortgage, said that the increased activity in the mortgage market reflects the number of more attractive and competitive deals available at the moment.

"This year has also been surprisingly upbeat...There has been more activity in the housing market, first-time buyer numbers are not dramatically up or down on their historical average, but they have picked up a bit which is always good news," she explained.

Overall mortgage lending was down 43% in 2009 due to the increasing demand for higher deposits and the unwillingness of householders to move during tough economic times. According to Ms John, in recent months the best mortgage deals have required a 40% deposit.

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Property is quot;still one of the best optionsquot; for investment-230110

www.ready2invest.com — Sat, 23 Jan 2010 00:00:00 GMT

Property is still a good option for those looking to invest their money, according to LandlordZONE.

Recent research from Paragon Mortgages revealed that one in ten landlords are hoping to invest in new property in the first quarter of 2010. Almost two-thirds are looking to specifically invest in terraced property, while interest in detached houses stands at just 10%.

Tom Entwistle, editor at LandlordZONE, said that caution should be exercised when people are looking at investing in buy-to-let properties, but the sector is still proving to be profitable.

"Property is still one of the best options when you look at where to invest your money for the future and, given the strength of the private residential lettings market in the UK, landlords will continue to build their portfolios," he explained.

Mr Entwistle added that the key to success was "investing selectively in the right areas and in the right properties at the right prices".

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Landlords will be looking to invest in 2010-220110

www.ready2invest.com — Fri, 22 Jan 2010 00:00:00 GMT

New research has revealed that 1 in 10 British landlords are looking to add to their property portfolios in the first quarter of 2010.

The report by Paragon Mortgages found that 10% of landlords want to buy in the next three months.

Nearly two-thirds said they would be looking to purchase terraced houses, which has traditionally been popular among property professionals.

Semi-detached housing was the second most popular type with 25% of people looking to invest. In addition, 1 in 5 landlords want to buy flats, while just 10% are interested in detached properties.

However, the report also found that landlords are still being affected by a lack of affordable funding.

John Heron, Paragon Mortgages' managing director, said: "It is encouraging that landlords are still active in the market and are looking to expand their portfolios. With tenant demand at such strong levels and soft house prices presenting the opportunity for bargains, it is easy to see why."

Figures from the Council of Mortgage Lenders show that buy-to-let lending increased in the third quarter of 2009 for the first time in 2 years.

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GDP growth expected in Turkey-220110

www.ready2invest.com — Fri, 22 Jan 2010 00:00:00 GMT

According to Durmus Yilma, governor of the Central Bank of Turkey, GDP growth could go beyond what government estimates had previously predicted.

The government had previously expressed that it expected GDP to increase by a conservative estimate of 3.5%. This is due to its plans for medium term return growth.

Signs of stability have been returning to the Turkish economy recently. The Central Bank took the decision to keep interest rates stable in the past 2 months due to 'moderate levels of growth'. This follows 11 months of cuts which saw the overnight borrowing rate reduced by more than 10 percentage points.

Yarkin Cebeci, an economist for JPMorgan Chase & Co, told Bloomberg that "Turkish growth tends to surprise on the upside" and an increase in 5% would not be 'surprising'.

Ratings firm Moody also recently upgraded Turkey's investment outlook from stable to positive based on the country's increasing resiliency to economic change.

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UK house prices have grown by over 200 since 1959-210110

www.ready2invest.com — Thu, 21 Jan 2010 00:00:00 GMT

UK house prices have increased by over 200% since the 1950s in real terms, according to a new study.

The report by Halifax revealed prices have been growing at an average rate of 2.7% per year since 1959 creating an overall increase of 273%. Last decade saw the sharpest rise in prices of 62%. This is compared to a 22% decrease in the 1990s.

Martin Ellis, a housing economist at Halifax, said that the housing landscape has changed "dramatically" over the past 50 years, particularly in the area of off-plan property.

"Levels of house building have fallen sharply over recent decades, led by a reduction in building by the public sector. At the same time, the types of homes built have altered greatly both in terms of type and amenities", he explained.

Changes were also seen in the type of households which exist. In the 1970s, 1 in 5 households were occupied by just one person; this number has now increased to 1 in 3. There has also been a shift in the ratio of detached and semi-detached properties being built.

Rightmove reported recently that the housing market received a boost in the first week of the new decade as optimistic sellers pushed up property prices by 1.2%.

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Morocco and Turkey quot;more accessible to holidaymakersquot;-210110

www.ready2invest.com — Thu, 21 Jan 2010 00:00:00 GMT

Morocco and Turkey are becoming more accessible to holidaymakers looking for sun, sea and sand, according to one travel expert.

Changes to air duties for people travelling from the European Union mean that flights to Morocco will be cheaper this summer than in 2009, and airlines will also be adding extra flights to destinations in Turkey.

Both destinations are also expected to benefit from their locations outside of the eurozone.

Commenting on the increase in popularity of the two countries in recent months, travel expert Simon Calder said: "Certainly Turkey, Egypt and Morocco are becoming more accessible thanks to the increased number of flights but most of those are aimed at those who just want sun, sand and sea."

Morocco is also expected to receive a boost from the adventure travel market this year. According to Alun Davies, editor at Adventure Travel Online Magazine, guaranteed good weather and the promise of a "fantastic outdoor activity/adventure type holiday within a totally different culture" will pull in more tourists.

Visit our off-plan property Morocco page.

Investors returned to European commercial property market in 2009-200110

www.ready2invest.com — Wed, 20 Jan 2010 00:00:00 GMT

Investors are returning to the European commercial property market at the highest levels since 2008, according to a new report.

Commercial property specialist CB Richard Ellis released data that revealed a 42% increase in investment turnover in the third quarter of 2009.

Of the 26 markets which were monitored, 17 reported that quarter 4 was the busiest of the year. The third quarter increases brought the total level of turnover in the European commercial property market in 2009 to 70 billion euro (£61,157,597,989).

The UK saw a 64% increase in investment in the second half of 2009 compared to the first. While this is below the European average it shows that the UK market began to recover quicker.

Jonathan Hull, from CB Richard Ellis, told Property Magazine International that during the first half of 2009 most markets were dominated by local investment, however this "saw a significant reversal" in the second part of the year as capital flowed in from international investors.

A report released in December by Prime Location International revealed that interest in overseas residential property was also returning to pre-recession levels.

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Istanbul will be a hot tourism destination in 2010-200110

www.ready2invest.com — Wed, 20 Jan 2010 00:00:00 GMT

Istanbul is set to be a "hot destination" in the coming months thanks to its title as European Capital of Culture 2020.

Travel and foreign language specialists Berlitz said that couples will also be flocking to the city over the Valentine's Day weekend for an affordable break.

Last Saturday (January 16th) Istanbul launched its year-long cultural calendar in an event at the Halic Congress Centre. In total 400 artistic and educational projects will be taking place at venues across the city throughout 2010.

Katharine Leck, managing director of Berlitz, said: "Istanbul is currently the hot destination and will prove a popular choice over the Valentine's weekend: it's romantic, lively, and as a non-Euro destination it is also good value - so an all-round great choice."

This summer sees the launch of a number of new flights from UK airports to destinations across Turkey to cope with the increase in tourist demand. The Hurriyet Daily News last week reported figures from the country's official airport authority, which revealed a 7.3% increase in passenger numbers during 2009.

Visit our off-plan property Turkey page.

Optimistic sellers produce new year UK house price boost-190110

www.ready2invest.com — Tue, 19 Jan 2010 00:00:00 GMT

UK house prices experienced a boost in the first week of January from confident sellers raising their asking prices.

Rightmove found that house prices increased by 1.2% in the first week in 2010. This pushed the average house price in England and Wales up by 0.4% to £222,261.

Most indicators had been showing an increase in prices for December, with the Halifax suggesting increases of 1% and the Financial Times recording an increase of 0.8%.

Miles Shipside, commercial director of Rightmove, said: "This rise in asking prices is an early indicator that new sellers in 2010 have the confidence to try for a higher price, as the index was lined up for a fall until the turn of the year."

He added that they had been expecting a seasonal decrease of 1% but this was over turned by the 'optimism of early January sellers'.

More buyers were also showing interest in property as Rightmove experienced a 26% increase in visitors than in the first week of 2009.
The property experts suggest that prices could be pushed up further thanks to the 'historically low levels' of stock on the market.

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Turkey tourism boost could lead to problems with poor accommodation-190110

www.ready2invest.com — Tue, 19 Jan 2010 00:00:00 GMT

Concerns have been raised about the quality of accommodation in Turkey following predictions that the country will see a tourism boom.

Indicators are that Turkey will see an increase in tourists this year. A number of airlines have added extra flights to destinations in the country and it is thought that a strong euro will drive tourists from other holiday destinations.

However, Travel Weekly has reported that there could be problems with overbooking in popular resorts.

Nigel Harris, Artemis Travel chief executive, told the website: "There is a lot of cheap, poor-quality accommodation, some suppliers might be tempted [to contract it] and they might get their fingers burnt."

On Holiday Group chief executive Steve Endacott said the country is expecting to increase the number of beds available by 25% this year. He believes that changes in the market men luxury 4 and 5 star accommodation will be in demand.

Monarch airlines reported a 200% increase in demand for holidays in Turkey in 2009.

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More tourists chose to travel to Morocco in 2009-160110

www.ready2invest.com — Sat, 16 Jan 2010 00:00:00 GMT

Morocco experienced a 6% increase in its number of tourism arrivals in 2009, reports the Nam News Network.

According to tourism minister Yassir Znagui, 8.3 million tourists visited the country in 2009. However, despite the increase in numbers, visitors were spending less than in previous years with a 5.7% decline in the amount of tourism receipts.

Plans were announced in the early noughties for the country to attract 10 million tourists a year by 2010 as part of King Mohammed VI's Vision 2010 programme.

Tourism brought a significant amount of money into the Moroccan economy last year. The sector contributed 9% to gross domestic product and created over 8,000 job opportunities.

New developments added 13,000 new beds to the country's accommodation market, with 40% of these being located around the tourist centre of Marrakech.

2009 also saw the introduction of new European Union rules which reduced the amount of air duty being paid by tourists travelling to Morocco from European countries. The changes will mean a reduction of almost £30 on flight prices and is predicted to have a positive effect on the number of people choosing Morocco as a short haul destination.

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Turkish interest rates remain stable for second month-160110

www.ready2invest.com — Sat, 16 Jan 2010 00:00:00 GMT

The Central Bank of Turkey has taken the decision to keep interest rates at their current level for the second month in a row.

Overnight borrowing rates have declined by over 10 percentage points since November 2008 following a number of cuts by the Bank which ended last month. Interest rates now stand at 6.5% for overnight borrowing and 9% for overnight lending.

In a statement the monetary policy committee noted that the moderate growth in economic activity experienced in November was "ongoing". The committee said that due to uncertainty about the rate of global market recovery "it would be necessary to keep policy rates at low levels for a long period of time."

The reputation of the Turkish economy received a boost this week following an upgrade in its investment rating from Moody. Moody increased the country's investment outlook from stable to positive.

This was said to be because of "the ability of the government and the country more generally to regroup when faced with a very significant economic and financial challenge" which helped boost Turkey's "resiliency".

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Landlords show confidence in UK buytolet market-150110

www.ready2invest.com — Fri, 15 Jan 2010 00:00:00 GMT

Landlords in the UK are feeling confident about the state of the buy-to-let market, according to CHL Mortgages.

A survey by the specialist mortgage lender found that 81% of landlords feel optimistic about the market's future now that it has lost its 'get rich quick' image.

Over half said that they would be keeping their existing portfolios this year rather than buying or selling property and 38% said they would be investing in new properties sometime this year.

Bob Young, managing director of CHL Mortgages, said: "Our first quarterly survey of CHL landlord customers seems to show growing confidence in the buy-to-let sector and an overwhelming feeling that the market pain we have all felt over the last couple of years is starting to subside."

He added that the sector is now 'dominated by professional landlords again'.

Figures from the property website Zoopla.co.uk suggest that confidence in the UK property market as a whole has returned to pre-credit crunch levels. A total of 81% of people now expect prices in rise in the next 12 months compared to just 20% who were optimistic in 2009.

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Growth expected in Moroccan economy-150110

www.ready2invest.com — Fri, 15 Jan 2010 00:00:00 GMT

Morocco's economy is expected to grow by just over 4% in the next year, according to the High Planning Commissioner Ahmed Lahlimi Alami.

The latest estimate is for the economy to grow by 4.1%, which is higher than the 3.2% predicted by the International Monetary fund. Morocco's economy relies highly on the tourism sector which is also expected to grow this year.

When Morocco joined the Middle East and North Africa (MENA) region in 2009, the prime minister Abbas El Fassi said it would increase the country's attractiveness to foreign investors. He noted that the 6% growth in gross domestic product in the MENA region was one of the highest levels in the world.

According to Commissioner Alami, while growth in the country's agricultural industries is expected to decline, it is expected that foreign demand will drive up to the profitability of other sectors. Inflation is also expected to remain low.

The International Monetary Fund have previously praised the Moroccan authorities response to the global economic crisis, stating that it was 'appropriate'.

Visit our off-plan property Morocco page.