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Positive Outlook for International Property Market in 2010

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By : Iwona szymanska    99 or more times read
After a tough 2 years for the international real estate market where sales in the usual tourist hotspots were uncertain and dwindling, it now seems that there is fresh confidence and renewed buoyancy underpinning the anticipated recovery for 2010.

Many International real estate companies took a break of 12-18 months from some markets following the global recession fall-out; however they have recently announced that they are re-examining their strategies and are working on new international projects. This activity could be due to the positive results of Q1 where major real-estate hubs – Singapore, Hong Kong, New York and London properties – all reported a steady incline in property price increases. As every good economist knows, a feeling of expectation mixed with confidence will undoubtedly aid the recovery of any market.

The investor market has been slightly slower to recover than the end-user (home owner) market according to reported property management figures. Traditional locations such as Cyprus, Spain, France, Portugal and USA’s South Eastern coasts of Florida are the most sought after locations with a dramatic 60% increase in international enquiries versus the same period in 2009. An overseas purchase within the global market for a high net worth individual or cash rich buyer can mean a good rate on return as the weaker pound is off-set by lower global real estate prices.

Although low levels of market transactions are anticipated at the mid year point due to the FIFA World Cup and UK election, it does look like 2010 will be a year of recovery. The three key factors outlined in the above article; renewed confidence, increased pricing values and unprecedented enquiry levels will certainly go some way to boost sales on a global scale throughout the coming year.
Hamptons International is a leader in property management, properties for sale and other real estate services and creates regular market updates on the state of the property business, offering accurate and transparent information.

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