The International Property Journal asked an array of industry leaders: What will be the big news in international property in 2010?
Here are some excerpts from IPJ:
“Looking further afield, destinations such as Brazil, Panama, Middle East and the Far East will be all but unsalable”.-James Wyatt, partner, Barton Wyatt International
“Well, the big news won’t be a big rebound in the Spanish property market, because that’s not going to happen”.-Mark Stucklin, analyst, SpanishPropertyInsight.com
“This buyer activity is already happening at the top end of the market in the U.K. where foreign buyers are taking advantage of the devalued pound, a slow moving property market (tipped to get slower in 2010) and a stalled economy”.-Martin Dell, director, Kyero.com, Spain
“We see France as a developing market. It already has a stable and robust real estate and mortgage market, and as well being the most visited country in the world. Developers are now leveraging these credentials to provide more and more tempting deals, mainly utilizing high loan to value mortgages–only the credit worthy need apply!”-Stuart Johnson, product sourcing manager, Experience International, U.K.
Costa Rica: “Most of the investment in second homes will be for retirees as their funds had been locked up in their primary residences. As well as, there are great deals to be made in the second home market and investors will be taking advantage”.-Debbie Maue, NAR liaison to Costa Rica, broker associate, Jameson Real Estate, Chicago
“No one will be taking risks by either over-paying or buying in fringe areas hoping for a ‘ripple effect’, but they will continue to buy quality property, finished to a high specification located in the most desirable areas”.-Adam Blaskey, managing director, North Beach, U.K.
USA: “My 2010 Prediction is that more banks will be closed in 2010 resulting in lot more properties foreclosing and driving our pricing down even more”.-Dagmar Sands, former FIABCI-USA president, broker, Real Estate International, Inc.
“The second home market around the world and in Panama will continue to be lethargic and may get worse if the economy continues to decline. To be successful in this troubled market will require innovation in both development and marketing”.-Sam Taliaferro, director/developer, Valle Escondido, Panama
We’ll go for Egypt, Brazil and France… Stick around for Dolce Casa Italy’s news for 2010!
Filed under: 2010 PREDICTION: What will be the big news in international property in 2010?
