FT Hot Properties in 2009

Steve1953



Joined: 04/12/2008
Posts: 298

Message Posted:
28/12/2008 11:31

Just a note from FT's House and Home section. Hot spots for next;



1.Bayswater - Fitzrovia,London

2. Paris

3.New York

4.Montenegro

5.Majorca:Purto de Andratz,Palma old town,Valldemossa

6.Austrian Alps

7.S.Cyprus:Paphos and Limassol - quoting tax advantages +low crime rate-"negotiate attractive deals in 2009"

8.Costa Rica

9.Turkey - Belek,Bodrum,Altinkum

10.Cambridge,UK

Any thoughts of your top 10's?

Kind regards for 2009,Steve

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
28/12/2008 14:44

did they mention Garry's house in Taslisu ??

Blackpoolfan


Joined: 03/12/2008
Posts: 1568

Message Posted:
28/12/2008 23:17

steve 1953,

What about burnley? you can buy a street for £10,000

andysue


Joined: 12/11/2007
Posts: 891

Message Posted:
28/12/2008 23:42

i notice turkey - belek at 9 , wifes brother bought there

Steve1953



Joined: 04/12/2008
Posts: 298

Message Posted:
29/12/2008 01:51

Dear blackpoolfan,dont accept £'s anymore - only akkers. Incidently blackpool had been relegated to below rakmandar in Pakistan on the list,so u may wish to visit there

cyprusgaz



Joined: 25/08/2008
Posts: 79

Message Posted:
29/12/2008 13:20

Message deleted. Not relevant to the thread.

AJ

Blackpoolfan


Joined: 03/12/2008
Posts: 1568

Message Posted:
29/12/2008 13:33

Message deleted. Not relevant to the thread.

AJ

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
29/12/2008 13:34

central cambridge is going towards london prices and has been for some years now.

this was from about 2004 onwards.

some areas in cambridgeshire are as cheap as chips, it depends on area.

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
29/12/2008 13:48

Lima(s)sol and Paphos markets are DEAD... even the Russian money has slowed..



I'm sure those earning a crust from buying / selling properties there will be hoping this fairy tale comes true..

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
29/12/2008 14:17

mmmmmmmmm

so sad lots of those lovely estate agents will be loosing their jobs.

i will have to go back, just to see some of those old faces queing at the job centre, to sign on.lol.

cyprusgaz



Joined: 25/08/2008
Posts: 79

Message Posted:
29/12/2008 14:20

British banks could collectively face losses of up to £70 billion on loans they made on commercial property, it has been reported.



The massive write-downs could force some of the banks into a further round of taxpayer bail outs, according to a report in the Telegraph newspaper.



The potential size of the write-downs are based on forecasts by investment bank Close Brothers estimating that the value of commercial property could dive by between 50% and 60% by the end of 2009 compared with its peak in 2007.



Many property experts say values have already dropped by around 30% this year, leaving further drops of 20% to 30% to go.



It is thought that UK banks are particularly exposed to the collapse in commercial property values as they advanced up to 95% of a property's value to private investors.



Close Brothers refers to a study carried out by De Montfort University which claimed that the UK's leading banks collectively had a £250 billion exposure to commercial property loans -

cyprusgaz



Joined: 25/08/2008
Posts: 79

Message Posted:
29/12/2008 14:21

twice the level they had before the recession in the early 1990s.



It added that around £83 billion of this figure was money that was lent at the peak of the commercial property market.



Gareth Davies, a managing director in Close Brother's restructuring team, told the Telegraph: "Commercial property is a major issue facing the banks during the next couple of years.



"We believe the scale of the problem has not been built into the recapitalisation programme developed by the UK Government."



The group said its forecasts were gloomier than many because it believes the lack of availability of debt finance and a limited number of investors with equity capital for acquisitions meant that any commercial property sold would now only achieve a "distressed valuation".

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
29/12/2008 15:01

cyprusgas

i have been watching some properties in the uk at auction.

houses sold in 2004 for 135k, going to auction with reserves as low as 85k.

it is serious but also time to invest if you have the money.

gates


Joined: 08/12/2008
Posts: 1096

Message Posted:
29/12/2008 15:50

ther is still ways to go yet till the first time buyers can get on the market properties will fall worst this time than last in 90tys this banks now less likly to give mortages dont matter how many bail outs or intrest rate reductions happen houses down wages up only way out

Blackpoolfan


Joined: 03/12/2008
Posts: 1568

Message Posted:
29/12/2008 15:58

Cyprusgaz or is it Keith Laird,

The banks made hay while the sun shone lent money hand over fist, now its gone tits up they expect governments to bail them out. Wont stop me from buying just a case of judging the bottom of the market and the right time to buy.

cyprusgaz



Joined: 25/08/2008
Posts: 79

Message Posted:
29/12/2008 18:50

Keith Lard!! Now that was funny made me laugh!!

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
30/12/2008 15:30

the banks have finally come to their senses.

mortgages are still available at a reasonable 4.79% you just need a deposit.

if you have a small deposit you will have to pay a higher rate.

nothing has changed.