According to currency analysts, JPMorgan, a significant decline in the index NAHB housing market due to the termination of the program providing tax incentives. Expiration of this program will have negative consequences for other important data like building permits, index of mortgage applications index MBA and the housing market NAHB.
The French government approved a plan for privatization of state property, including historical monuments. Castles, manor houses, guest houses, barracks, farms, hunting lodges – all go under the hammer. Over 1,700 objects Nicolas Sarkozy’s government hopes to rescue multi-billion-euro, writes Times. This money is to cover the budget deficit.
According to Deputy Minister of Regional Development and Construction of Dmitry Isayenko, now up to 50% of the cost of housing are taxes and numerous deductions authorities. New affordable housing program will substantially reduce these costs, as provided for free transfer of land by local authorities for construction of residential houses, as well as summarizing communications to them by the State. The changes made to the draft Law on the Provision of affordable housing in Ukraine, which has already been reviewed in the first reading.
The global fall in house prices was not reflected fully in the growing resort markets of countries with positive population trend. The fact is that real estate markets in Turkey, the Dominican Republic, the resort towns of Mexico and Egypt continue to stay in the green zone. Index of growth of the Turkish real estate exceeded 8% in the first quarter of 2010, which was European record for the market.
Investors are returning to the construction market of Ukraine’s capital. Now comes only foreign investment in Ukrainian real estate, but experience shows, that foreign investors are always bringing up our own. According to Open Knowledge, a group of investors from the UAE have developed and begun to approve a project built 90 (!) Storey skyscraper in Solomenskiy district of the capital of Ukraine.
In France c her fairy story about six and a half thousand castles and mansions are under state protection. But one thing to provide protection and to protect historic buildings and a completely different – really have a huge castle. It’s really expensive, especially during the financial crisis. Therefore, most locks remain in private hands. The French owners of unique structures have received them, usually inherited, and they too often lack the funds for the restoration and maintenance of the estate.
U.S. bank Morgan Stanley is planning for the next three years, double the number of staff in the Asian private banking unit under the program to increase revenues from this trend in the global market.
In I quarter of the total value of construction works completed in Estonia decreased by 46,4% from the previous quarter. In comparison with I quarter 2009 decline of the indicator was 40%. At the same time in the segment of building construction volume decreased by 40,6%, and in the segment of infrastructure – on 38,9%, according to a report of the Estonian Statistical Office.
In I quarter of the total outstanding mortgage borrowers in Ireland reached € 6,1 billion is 13% more than in the previous quarter. As I quarter the amount of mortgage loans overdue for three months or more, accounted for 4% of the total value of loans for six months or more – 2,8%.
The data of the U.S. economy, that were published yesterday exceeded the wildest forecasts of experts once again. Sales of homes on the primary housing market of the United States rose in April to 504 thousand, while projected at 425 thousand, and orders of durable goods rebounded in the month at 2.9% instead of the expected growth at 1.3%.