Russians actively buy Israeli properties

Russians actively buy Israeli properties. Home sales grow in Australia and Dubai. Cyprus: Britons should be worried about their units located in the northern part of the island. Russians are considered to be one of the most active international property buyers of Israeli real estate.

According to Gordon Rock, Russian demand for Israeli property has increased more than twofold in Q4, 2008, in comparison to the same period of the preceding year.

Housing prices in 20 first-tier cities of US have declined by 18.6%, in comparison to the similar period of 2007, and by 2.2% in comparison to January, Standard & Poor’s/ Case-Shiller’s index says.

Experts report that the decrease has slowed down in February. U.S. Commerce Department reports that the volume of new detached housing sales has declined by 0.6% in comparison with February.

In Q1 2009 apartment prices in Prague have declined by 5.27% in comparison to the similar period of the preceding year, in other regions of Czech Republic the decline has amounted to 5.73%.

Market experts claim that developers are forced to lower property prices in order to compensate for the decline of demand during the crisis times. The number of property deals concluded in Dubai has increased twofold February-to- January, Jones Lang LaSalle reports. The overall cost of units sold during the specified period amounts to $520 million.

The volume of new home sales in Australia has increased by 4.2% in March, compared to February, up to 8210 units. The present indicator has been growing for 3 months in a row. In Q1 2009 the demand for Hungarian storage facilities has increased by 20-25%. Market experts relate this trend to the low cost of Grade “B” and “C” warehouses, which averagely works out €250-400 per a square meter.

 

The most expensive housing

The most expensive housing in developing countries is located in Dubai, which is followed by Singapore, the third line is occupied by Moscow. The TOP-3 is followed by Hong Kong, Beijing, Tel Aviv, Masqat, Ljubljana, Prague and Saint-Petersburg.

The present rating has been prepared by the company REIDIN.com, which has examined average residential property prices in 59 cities, located in 34 developing countries. European court of Justice has supported a Greek Cypriot, who demands to return his properties on the Northern part of Cyprus. He had to abandon his real estate after the island has been split on Turkish and Greek parts in 1974; subsequently his properties have been sold to foreigners.

According to a local lawyer, this may become a precedent for numerous Britons who own real estate on Northern Cyprus. P.S. Citizens of Nigeria are worried by housing problems of other sort. Experts think that the deficiency of housing on Nigeria works out 16 million units. It will cost $400 billion for the local authorities to solve this problem.//Prian.ru