Property valuation is nothing but calculation of the current market price of the property on which property valuation has been done. There are many misconceptions in the mind of property owners that property valuation is a service that should be undertaken at the time of selling of property only, but to be honest, it’s not!
Mr. White-Johnson was just as coy about a Toeless St section – which he said was one of two recently on the market in Little Kaiteriteri – which sold for between $400,000 and $500,000. A small piece of land in Monaco has sparked controversy among people wanting it for different uses but residents of the area have won their battle to see it retained as a public reserve. The Sea Scouts building has been there for about 40 years but the land is owned by the council and is frequently used by residents and visitors wanting to get to water.
Mr Newton told the meeting he had bought the building cheaply in the hope that he would be able to buy the land and build a house there, since it was zoned residential on council plans. However, council chief executive Viesturs Altments said it was only rezoned residential from its previous zoning of public utility by mistake. Since property valuation tells us about the actual value of the property it also helps the property owners to know the ways by which they can raise the price of the property and these ways includes improvement in the property like repairing, extension and restoration of the property.
So by undertaking the service of a qualified Perth Property Valuers the value of the property can be raised. The council has hammered out a still-secret deal with the Government to cover a cost over-run of up to $2 million on the $6.5 million project. Mr Hurley remained coy about the deal today, but said it would not cost ratepayers any more than they expected to pay when cleanup details were finalised last year.
London attracts the greatest number of Hong Kong investors, however, regional centres are also considered as they offer robust Investors are particularly interested in locations close to major employment areas and amenities (especially transport infrastructure), and are less interested in the prestige of ‘destination addresses’.
The typical hold period will depend upon the intended usage of the property. Some buyers will acquire properties for use by their children whilst studying in the UK and may retain them should the children stay on in the country to work.
It is not uncommon for buyers to retain their UK properties for between five to ten years as they view UK as a relatively stable market offering a favourable taxation system for overseas purchasers. With regard to expat buyers, they generally acquire property as part of their pension plan and will tend to go in and out of the market depending on cycles and exchange rates.
Location is paramount for Russian buyers as they typically acquire for their own use rather than for letting purposes as the returns from London are not comparable to those achieved in Moscow. However, we believe it is only a matter of time before they buy for purely investment reasons.
Russian investors are conscious of the current domestic volatility of an emerging capital market economy, a situation that may become more uncertain after the 2008 Russian elections property valuation Therefore properties sought must offer excellent security as families may be moved to the capital on a permanent basis.
However, Russian buyers are in evidence outside London and between May and September 2006 Russians accounted for over 8% of Knight Frank sales of country properties above £2 million and just under 39% of properties above £5 million property valuer online Tax can impact negatively upon an otherwise sound investment. In this regard, the UK offers considerable advantages as it has relatively low tax rates compared with many other European countries, and it offers exemption from tax on income from foreign investments for people who are resident but not domiciled in the UK.
There are various forms of offshore vehicles, otherwise referred to as non-resident companies, and offshore centres (the IMF listed no less than 64 in 2000) which in addition to tax benefits can offer other advantages such as simplified reporting requirements and anonymity. However, their level of regulation, supervision and compensation schemes vary so it is important to seek advice before investing in an offshore jurisdiction. In addition, offshore financial centres have been obliged to tighten their regulations in recent years and anti-avoidance legislation in the UK has reduced the tax benefits which UK domiciliary derive from offshore companies.
The fundamentals which underpin foreign buyer interest in UK residential property are unlikely to change significantly in the foreseeable future: stable economy, transparent legal system, tax-friendly regime for foreign buyers, large and dynamic residential property market offering good capital growth prospects, plus, in many cases, historic educational, cultural and business links. Language is also a key factor.
We foresee further growth in Russian buying activity, of the order of 10% per annum over the next two years, driven by the uncertainty surrounding the outcome of the approaching May 2008 Russian general election and the expansion of the HNWI population in Russia. With advantageous tax planning becoming widely available from many premier law firms and accountants, buying in the UK is becoming a very attractive option for many Russians.
Closer to home, Irish and Middle Eastern buyers are likely to remain enthusiastic about the UK residential market. The Irish story is a remarkable one: with a population of just over four million, Ireland has the fourth highest GDP per capita based on OECD power-purchasing parity. Attracted by the strong performance of UK residential property and encouraged by tax advantages, Irish investors have become major buyers of new homes in the UK.
With real estate in vogue as an asset class throughout much of the world and likely to remain so at least for the remainder of this decade, high quality analysis and inter-market comparisons have become essential. The combined research resources of Knight Frank Grubb & Ellis represent one of the largest concentrations of property market data and information in the world. With mounting cross-border investment flows, good advice has become a good investment.
property valuations The scope and scale of this report means that it is necessarily general in style and content. Knight Frank Grubb & Ellis look forward to working with our clients in generating optimum investment strategies throughout and across all global markets based on comprehensive research and best-in-class professional expertise.
The international real estate industry traditionally has a poor track record in listening to economic commentary and developing suitable responses to economic signals. At a general, global level, that has changed profoundly over the past few years. the real estate community has become hyper-sensitive to the need to match strategy with economic shift.
The net effect is a global real estate downturn which is nowhere near as deep and disastrous as history would suggest it might have been. Supply has risen, vacancy rates have climbed and rents and some prices have been corrected downward. In general terms though, on an international scale, revisions to market indicators have been less dramatic than the downshift in economic growth and equity market performance.
The physical characteristics of property means that there will always be a disparity between construction and demand and this results in supply overhangs and pockets of building distress in selected markets. At present though, these are comparatively modest in historic terms and most real estate markets have proved far more resilient than might have been expected prior to 2000 when conditions were less challenging.
There will forever be pronounced differences at a local market level and exceptions which buck the trend. Overall though, economic conditions are progressively improving and corporate prosperity rising. This will foster a more positive environment for real estate demand over the next 12 months. Sector variations persist. The jobless nature of recovery in the service sector, off-shoring and latent supply held within sublease inventories do place a question mark over bounce-back in the office market.
property valuers Better symbiosis between the capital markets, economies and real estate sectors has emerged and this bodes well for more sustainable growth in the future.
The concept of a jobless recovery was unknown in earlier recessions because the economy began creating jobs again within a month after the end of each recession. Productivity and global outsourcing are the primary drivers behind the jobless recovery of the past two years. Companies are using technology to produce more goods and services using fewer workers. Companies also are moving existing jobs overseas to take advantage of lower wages or creating new jobs overseas to open up new business opportunities in emerging markets. A study by consultants Economy.com concludes that one-quarter of the 2.7 million jobs lost in the US during the past three years moved to India, China and other low-wage markets.