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06 | WORLD ROUND-UP


NEWS The OPP top ten


Welcome to OPP’s news round-up, providing you with a snapshot of the main talking points in the international residential property industry this month. For more details on these stories and the latest news, visit the www.opp-connect.com news archive.


1 - USA


‘Market at its most buoyant’ A top overseas property investment expert has told OPP Connect that he has never seen the market so buoyant. Robert Gavin, CEO of Property Hori-


zons, said: ”I have personally never seen a property market so buoyant; a recent development in New York City sold one thousand units in just twelve months with a gross development value of around USD400 million and this is a city with a population of just 50,000.”


2. MEXICO


Fibras popular for investors Property investors in Mexico are turning to REITs, which are currently greatly outperforming the stock market. Mexican Real Estate Investment Trusts,


known as fi bras, were introduced in 2011 and are becoming popular with nationals and overseas buyers. The fi rst trust was Fibra Uno, but now others have entered the market.Over the next fi ve years, it is expected that another 20 or so fi bras could be issued.


Want to know more?


Just visit: www.opp-connect.com


10. UK


Stoke homes for sale at £1 Derelict homes in Stoke-on-Trent, UK, are being sold for just £1 each – and buyers will also be loaned money to repair them. More than 600 potential buyers have


already contacted Stoke council about the 124 bargain-priced homes up for sale. These consist of thirty-fi ve dilapidated


properties that are mostly two-bedroom terraced properties in the Cobridge area, with a further 89 to follow.


3. FRANCE


“Best time to buy” A combination of low prices and mort- gage rates means overseas property in- vestors can take advantage of some great deals in France, says a fi nance expert. John Busby, Director of UK-based


French Private Finance, says buyers can obtain historically low rates with a 20-year fi xed rate now standing at 3.35% and a 20-year tracker mortgage from 2%.


8. PORTUGAL


Signs of stability There are signs of stability returning to the Portuguese housing market, new data shows. New buyer inquiries in Portugal have


risen for the fi rst time since the RICS/ Ci Portuguese Housing Market Survey (PHMS) began in September 2010. The rise took place in both Porto and the Algarve – two out of the three regions covered in the March survey.


www.opp-connect.com |MAY 2013


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