Repossessed Property Investment Hotting Up in America

The market for repossessed properties in America is really hotting up at the moment, and little wonder. According to RealtyTrac -- the leading tracker of the American repossession situation -- 2009 was a record year for repossessions with 2.8million homes being repossessed, but experts are warning that 2010 could be even worse.

These fears were heightened when a new monthly record was set in March, when RealtyTrac says some 378,000 homes were repossessed, higher than in any month since they began tracking repossessions in 2005.

While investors from the US and around the world are capitalising on repossessed and distressed properties in all corners of the states to make strong yields, certain areas stack up better than others and as such as seeing demand intensifying at a faster rate, and even slight increases in price.

One such area is Fort Myers in Florida. As we know Florida has been one of the worst affected regions in terms of repossessions, but within that Fort Myers has taken a real battering, and was one of the fastest areas into the repossession crisis in terms of repossession volumes.

However, the fundamentals for economic growth are strong in Fort Myers with many businesses noting recovery and the labour market seeing increased stability in recent months. The biggest pull to Fort Myers property for those buying up repossessed and distressed properties though is the price and the value for money.

Perhaps more than anywhere else, in Fort Myers there are plentiful opportunities to buy new and nearly new properties that have been repossessed or face repossession and are therefore at rock-bottom prices. These present the opportunity to rent out the properties almost immediately after they have been purchased, and yields are around 8%-10% net.

One such repossessed property investment package in Fort Myers is currently being offered by Azure Overseas, with a typical deal being a 3 bedroom property in a good area for £50k, which will rent out for £552 per month, with £367 being left after expenses such as management and maintenance (net).

Demand for repossessed property in Fort Myers and America as a whole is predicted to remain strong in at least the short-medium term, because investors feel confident buying property in an established economy market for such low prices. Another factor is the strong dollar which increases rental yields for British investors.

EU Construction Output Increase Bodes Well for German Property Investment

EU construction output grew 6.8% in March compared to February. This is the largest growth seen in the EU construction sector since the crisis hit. In fact, all the other rises have been lower than or a little over the 1% mark.

According to the data, from Eurostat, construction output rose on a monthly basis in thirteen of the fourteen states that provided data. The largest increases were recorded in Germany (+26.7%), Hungary (+5.5%) and the Czech Republic (+4.7%). Sweden was the only country to register a monthly contraction of -0.4%.

In the annual data it is a different story. Construction output for the entire EU was down 5.2% in March compared to last year, and the only countries to register an annual growth were the United Kingdom (+9.2%) and Germany (+2.6%). The largest decreases were registered in Romania (-23.1%), Bulgaria (-20.9%), Slovenia (-19.7%) and the Czech Republic (-19.1%).

This is the latest positive data on the EU economy, god knows it needs it after the debts of Greece blew up in everyone's face. According to recent reports, European property markets are starting to improve, and this is likely a major factor in the construction growth.

The growth in Germany is particularly interesting, because it confirms recent reports of major demand for retail and commercial spaces in the country. This will obviously fuel the residential markets in areas where the new construction is taking place. It is also good news for the German economy, which -- more than most places -- is a big factor in the shape of the property market.

In Germany only a little over 40% of the population owns their own home, and some 48% live in rented accommodation at full price. For this reason the property market is heavily restricted, with landlords only able to raise rents if wages are increasing. Thus, German property investments are most profitable when the economy is doing well.

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Italy Leading in Overseas Property Revival Says Rightmove

The overseas division of the UK’s largest property portal Rightmove has revealed a 73% year on year increase in searches for Overseas property in April.

According to the portal the biggest benefactor of the increase was Italy, which saw its market share increase by 20% as it became the fourth most popular country on the site, up from 6th in March.

The portal said that Sicily had seen searches increase by 115%, which Sardinia, Lazio and Campania saw searches of between 20 and 30 percent higher than March. Agents in Calabria have also been reporting significant increases in foreign activity, though, they say sales are still low, enquiries are definitely increasing.

According to Rightmove’s head of overseas Robin Wilson, the increase in activity is representative of increasing confidence among buyers, as those who postponed their purchasing plans last year, deciding that now is a good time to buy.

“There’s no doubt absolute traffic volumes are down on the bubble peaks of 2007/2008, but there’s a ground swell of consumer confidence and resolve amongst serious lifestyle buyers to put into practice the purchase plans they put on hold last year,” he said.

This is the latest in a series of positive reports about overseas property this year, particularly European property in established markets.

These included a 150% year on year sales increase in Marbella, and an 18.7%sales increase in wider Spain. These early signs of hope can only be built upon now that the Eurozone debt problems are leading to Sterling having a run against the Euro.

1 pound Sterling is currently worth 1.17 Euros, having smashed the 1.15 ceiling of the past two months, which followed the breaking of the previous 1.10 ceiling that brought us out of 2009.

Because the Euro has come to near parity with the Pound, the difference this makes can easily be quantified: property in the Eurozone, including Italy and Spain is currently 12% cheaper to British buyers than when the pound was worth 1.05 euros in the second half of last year.

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Rugby Giant Falls for Altinkum and the Apollon Holiday Village

Rugby giant Jordan Crane has invested in a property in the Apollon Holiday Village development in Altinkum Turkey through Azure Overseas. Entirely happy with the service he received, Jordan sent in the following as a testimonial to the quality of our services:

"I would like to thank you for all the support and help you offered me during the process of purchasing my apartment at the Apollon Holiday Village in Altinkum Turkey. I did not make the trip over to Turkey to view the complex but Jess and Belinda were very well looked after while they were there, and the staff there went above and beyond to make sure there trip was a good one. Personally I would recommend Frank and Azure Overseas to anyone who is thinking of buying a property abroad."

A regular with both the Leicester Tigers and England Rugby Union squads, Crane purchased a 3 bedroom unit in the development for the incredible price of just £32,000.

And that is the exact reason why Turkey property is set to be one of the biggest sellers for at least the next 3 years, the incredible value for money.

The Apollon Holiday Village is a development of supreme luxury, with the resort and apartments all built to the highest standards by a reputed British developer. According to the other testimonials on the Azure site, those who have seen the resort are surprised at just how big the apartments are, and one couple even comment that the pool is bigger than they thought it would be.

Altinkum is an upcoming tourist town on Turkey’s Aegean coast, and property prices are unlikely to stay at their current levels for long.

Currently prime property is selling better than the lower classes, but this is set to change as confidence grows in the recovery around the world. Thus there is a gathering storm behind property in Altinkum and Turkey, to suggest increasing sales, increasing prices, and increasing rental yields.