Real Estate Info

Posts Tagged ‘Properties’

The top real estate news from India for this week are:

.Five lakh low-cost houses to come up in Mumbai

The city is all set to witness the mushrooming of affordable housing with five lakh units of middle and lower income housing expected to come up in the next five years. Announcing this, Mumbai Metropolitan Region Development Authority commissioner Ratnakar Gaikwad said this move is expected t Read the rest of this entry »

Real estate segment in India is growing beyond leaps and bounds. Property segment has seen record investments in the last one year. Many foreign investors have shown their interest in the Indian property segment. The number of realty funds catering to the Indian real estate is also on the rise.

Magicbricks.com scans media reports for real estate news. Here are the top current headlines.

• Moneylenders fu Read the rest of this entry »

Buying a vocational property (also known as Second Home) can be a handy investment, for it can serve two purposes. First, it saves you plenty of expenditures when you are visiting that place in holidays, second you can rent it out to visitors on temporary basis and enjoy good monthly income when you are not using it. What’s more? You can turn it (or some part of it) into a restaurant or a shop if it is located at a place that gets plenty of visitors, during the course of a year. In short, owing or investing in a vocational property can be advantageous in many ways, but only if you choose the right location and pay attention to details. 

First, you need to make your mind on what will be the primary purpose of this property? Would you be using this place a lot, as a vocation spot? Will it serve mainly as a place away from home and the normal hectic life? Or, the sole purpose of this purchase is getting income? Ideally, if you are going to buy a vocation property, it should be intended (and able) to serve both purposes, so that you’ll be able to derive some value from this investment, in any case.

Location:

Whatever your intended future usage of vacation property is, the location is going to play an important role. Being a vocation property, it is supposed to be at a less crowded area, away from the normal hustle and bustle of urban cities. It can be a small hill station (especially if you are looking for a vocation property in South Asian countries like India & Pakistan), a cottage at some beach or a farmhouse in some peaceful vicinity. You should make a choice after considering both, your inclination and the investment viewpoint. Also, keep in mind the travel factor.

Price:

Prices depend mostly on the popularity of area and the number of visitors it get. The availability of the basic necessities like electricity, gas, clean drinking water or the facilities like internet access and security, also matter. If you can foresee some place getting more tourists in the future (for example a new road is under construction, which will make it more convenient to reach there), you can expect significant hikes in near future. Generally, the closer some vacation spot is to a big city, the higher its land and properties will be priced.

Types of Vacation Property ownerships:

You can own a vocation property in more than one ways, in accordance with your budget and usage. For example “timeshare”, where more than one party use the property for a prearranged, fixed period. You can use it personally or rent it out for the time period allotted to you. You can also go for fractional ownership, where you actually own a fraction of property (in contrast with timeshare, where you are entitled to “use” the property for only 1 – 2 weeks in a year).

Ever since the mortgage crisis took off in the US real estate market, things have never been the same again. Ordinary property prices for the masses clamped down hard and never bounced back in spite of all the optimism and the US bail out package. The world seems to be crying over the sad demise of many property investors not being able to even recover their investments what to talk of gaining anything. Many would think that this has nothing to do with the expensive lot of properties in the US and as the reason go that “rich people will buy expensive things, and it has nothing to do with all the fuss”. We would have been glad if the statistics would have really backed our claims for any recovery in all kinds of properties. The economic recession has hit the expensive properties even harder then anticipated. Great investor and famous billionaire Warren Buffet once rightly said that “Unfortunately, the economy is a little like a bathtub. You can’t have cold water in the front and hot water in the back”. So as the saying reveals hearts have been broken and emotions have been tempered with because of the response the very expensive properties have got after being listed on sale for months or even more then a year.
The sellers are really disappointed especially the owners have really felt the pain when they needed the proceeds of the sale the most. They have been trying to invent new strategies that would make them able to sell their properties they made with their heart and soul. They are slashing the price tags by 25% to even 30% to get the deal done and amongst the effected are the owners and sellers of properties falling in price tags of many million dollars. Some of the properties have been so long on the list that despondent sellers have got their properties de listed from the selling properties list after a never ending wait for a paying potential buyer. Some of the real estate experts believe that the property prices earlier were build up out of ravenousness and the prevailing prices show the actual worth the properties have in the market. The other thing that has also been considered as a major factor behind this extra charging of price is the emotional attachment of the owners that has furthered the price increase to extravagant levels. One of the most important features that made a world of difference was the credit lending facility. Since many buyers wanted to get leveraged by the loan facility, it wouldn’t mean hurting their regular business operations by buying a large chunk of property on cash. Since the overall business scenario has been in woods for some time, inability to get financed or being already in problems has also decreased the number of buyers interested to buy such expensive property lots.
Source:
Dubai Property

The real estate market tends to be cyclical with some periods favoring buyers and other periods favoring sellers. As with other free markets, the pricing and availability of real estate is directly related to the forces of supply and demand. While many real estate markets in the United States are experiencing a substantial slowdown, other markets remain robust, and some even continue to grow. What makes the situation even more c Read the rest of this entry »