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Playa De Las Americas is the largest and most popular resort in Tenerife; situated in the south of the island next to Los Cristianos and near the Renia Sofia Airport. Although suitable for all ages, Playa De Las Americas is mainly favoured by the younger generation for the profusion of night life to be found there and budget hotels. Whatever age you are thought, Playa De Las Americas resort is action packed and packs a punch.
Playa De Las Americas has a large amount of good quality hotels that offer a lively atmosphere and superior service. One such hotel is Caledonia Park. From there you can easily reach the main site of Playa De Las Americas including the bars and restaurants, beaches and the aqua park which provides anyone with a fun day out. The Caledonia Park Hotel offers lots of great facilities, good food, fantastic atmosphere and gargantuan cocktails on demand! It is one of the most popular hotels within the resort.
Playa De Las Americas offers much in the way of cuisine with restaurants offering a variety of dishes such as Chinese, Mexican and English foods and many more, tapas bards offering the very best of what Tenerife has to offer. If you’re a person who is constantly on the go then fast food stalls will help suit your lifestyle. Nightlife in Playa De Las Americas is astounding to say the least, with most places offering a happy hour or two which tends to lead to a few hours of happiness for the customers! Most places stay open till the early hours of the morning and offer the very best of music and entertainment.
There is so much to see and do in Playa De Las Americas that one holiday is normally not enough. There is plenty of shopping, trips around Tenerife, water sports by the bucket load, bungee jumping and even swimming with dolphins to keep you occupied, and that’s not to mention the beaches! Whilst often crowded, offer fantastic swimming and sunning opportunities and a lively atmosphere. So if you are thinking of taking a trip to Playa De Las Americas, be prepared for a seriously good time!
Hannover is the ninth largest airport in the whole of Germany and it has the unique Airport code HAJ. Hannover international airport has been operational since the 1950’s.
Hannover international airport is also called Langenhagen Airport as it is situated near to a town known as Langenhagen.
Hannover international airport is open 24 hours a day though in actual fact you will not find many flights operating between the hours of 1 am and 4 am.
Hannover international airport is also only a short drive way (11 kilometres) from the town of Hannover which is capital of the German state of Lower Saxony.
The terminals at Hannover international airport have become renowned architecturally in Germany for their excellent modern design. So good was the design that it inspired the plan for an airport in Moscow, Russia.
Hannover international airport has four terminals, terminal A, terminal B, terminal C and terminal D.
Terminal A has a number of domestic and international flights.
For instance you can fly to Copenhagen in Denmark with Scandinavian Airlines system, Amsterdam in Holland with KLM cityhopper and Riga in Latvia with Air Baltic.
In terms of flights within Germany there are routes to major cities such as Berlin and Frankfurt with the German air carrier Lufthansa. While Lufthansa handles a huge number of flights at Hannover international airport, the aviation company TUI fly is also a very well used carrier.
Some of the many airlines to fly from terminal B in
Hannover international airport are the Russian carrier Aeroflot, Croatia airlines, Flybe, Hamburg international airlines, Pegasus Airlines, Turkish Airlines and Eurocypria airlines. These companies offer a number of flights throughout exciting European destinations. Flybe in particular has cheap flights to Britain.
From terminal C in Hannover international airport (which was opened in 1998 as the airport tried to accommodate more and more passengers) it is possible to fly to Alicante in Spain, Sharm El Sheik in Egypt, Palma de Mallorca in Mallorca, Fuerteventura and Tenerife south in the Canary Islands and Milan Bergamo in Italy as well as many, many others. When terminal C was added, eight more gates were built at Hannover international airport.
Terminals A to C of Hannover international airport have sizeable runways and can all hold big planes such as a Boeing 747.
The only air traffic to fly from terminal D are Royal Air Force troops going from Britain to Germany and Omni Air International flights.
To start with most flights from Hannover international airport were directed through Frankfurt international airport. This is no longer the case and you can get plenty of direct flights to world wide destinations. Hannover international airport is second only to Frankfurt international airport in terms of air traffic to countries in Eastern Europe.
However, though they were trial runs for flights to Canada and the United States of America, not enough passengers took these up.
Up until 1990 Hannover international airport hosted Germany’s largest air show, the Internationale Luft und Raumfahrtausstellung. However an accident with a helicopter in 1988 caused injury to some of the people involved and the show is now in Berlin.
Travelling on from Hannover international airport you can rent one from a large fleet of vehicles. Rhino can provide compact, small and large models, economy, standard, intermediate, large, multi purpose, convertible, luxury, executive and prestige cars for every type of customer and our friendly staff can meet you as soon as you step off the plane.
It is also possible to catch the S Bahn from Hannover international airport.
Dusseldorf is the capital city of the German state of North Rhine Westphalia and Dusseldorf international airport is the third largest airport in the country after Frankfurt international airport and Munich international airport.
Because Dusseldorf international airport (airport code DUS) is located almost 10 kilometres outside of the city of Dusseldorf, you will most likely want to hire a car to complete your journey when leaving the terminal.
Cheap Rhino car hire can be booked in advance and there are great vehicles of all makes and models available through providers such as Hertz, Avis, Holiday Autos, Auto Europe and Sixt. Whether you are going through Dusseldorf international airport on business or for a holiday we have the right vehicle for you.
Last year more than 18 million passengers used Dusseldorf international airport, a large portion of them taking Air Berlin and Lufthansa flights.
The total airport traffic has risen steadily since 2002 when 14.75 million passengers used Dusseldorf international airport. However, the airport is still not at full capacity as the main terminals are capable of holding 22 million passengers every year.
Air Berlin has a whole A-Z of world wide cities which it flies to from Dusseldorf international airport.
These include Alicante, Bangkok – Suvarnabhumi, Copenhagen, Dresden, Faro, Helsinki, Ibiza, Las Palmas de Gran Canaria, Milan-Malpensa, Nice, Palma de Mallorca, Rome – Fiumicino, Sharm el -Sheikh, Tenerife – North, Venice – Marco Polo, Westerland – Sylt and Zürich among many others.
There are also a large number of Air Berlin flights to seasonal European destinations such as Jersey, Reykjavik – Kevlavik, Rhodes, Kos and Minorca. There are also flights to various inter Atlantic destinations like John F Kennedy New York airport and Los Angeles airport.
With Lufthansa you can fly to the German airports of Berlin-Tegel, Frankfurt, Hamburg, Stuttgart and Munich.
Other flights go to Chicago – O’Hare, London – Heathrow, Moscow -Domodedovo, Newark, Palma de Mallorca, Paris – Charles de Gaulle, and Vienna.
Some of the seasonal destinations are to Miami airport in America and Toronto-Pearson airport in Canada. Towards the end of the year a route from Dusseldorf international airport to Dubai airport with Lufthansa will start up as well.
Other airlines which fly from Dusseldorf international airport are Austrian Airlines, Egypt Air, Croatia Airlines, Lot Polish Airlines, Scandinavian Airlines System and Swiss International Air lines from terminal A.
From terminal B you can get flights with Aegean Airlines, Air Baltic, Air Europa, Air France, Delta Air lines, Czech Airlines KLM and many others.
If you are flying with Aer Lingus, Aeroflot, Blue Wings, Flybe, Ghana International Airlines, Jet 2, TUI Fly, Turkish Airlines and many others, you will depart from terminal C.
For the latest information on all the routes and airlines at Dusseldorf international airport as well as current news you can pick up a copy of Das Magazin at news stands there for free.
The other airport in the Dusseldorf area is airport Weeze (airport code NRN) which is located some 80 kilometres away from Dusseldorf and has various low cost flights.
Ryanair has the most international flights from airport Weeze to destinations such as Palma de Mallorca and Alicante in Spain and Bologna in Italy. The German airline Hamburg International flies from Dusseldorf airport Weeze to places in the Middle East such as Sharm El Sheik and Tel Aviv too.
Although Dusseldorf airport Weeze only had one and a half million passengers last year, this was such a massive increase on previous years that it is one of Europe’s fastest growing airports.
The real estate market in and across the United States of America is as varied and expansive as the country itself. Although the age old adage comes off a bit trite and certainly overused, when it comes to real estate investment and other real property purchasing opportunities in the United States, there actually is something for everyone. There are many different opportunities available to the savvy shopper.
Investment Property in America
In the 21st century, an ever growing number of men and women are electing to make the purchase of investment real estate in the United States. This includes both residents of the U.S. as well as people living abroad who wish to become a part of the generally burgeoning U.S. real estate marketplace. As a general rule, people who are snatching up investment property in the United States are doing so in three different arenas:
First, investors are electing to buy into commercial real estate holdings.
Second, men and women buying investment property in the United States are also spending a goodly share of their funds on residential rental property.
Finally, people who are purchasing investment real estate in the United States are putting at least some of their money into vacation types of properties.
Residential Real Estate in America – Single Family Properties
No where is the commentary that the real estate market in the U.S. is as varied as the country itself when it comes to the matter of residential real estate. Depending on where a person is interested in residing, in making the purchase of residential property, will dictate how much money will need to be spent on such a purchase.
In some cities in the United States — many of the major cities on both the east and west coasts of the country, for example — the prices of residential properties continues to increase rather dramatically over time. On the one hand, the ever rising cost associated with the purchase of residential property in some cities in the country is keeping some people out of the housing market all together. There are some cities in the America that are experiencing a flat housing market. In other words, the appraised value of real estate is remaining level and not increasing much over time.
Residential Real Estate in America – Apartments
In addition to stand alone, single family residences, the market involving apartments, condominiums and townhouses in many communities has become more active in the past five years. This has particularly been the case as the so-called “Baby Boom” generation begins to move towards the empty nest phase of their lives (their children have left home) and even towards retirement. As a consequence, people are moving towards purchasing apartments, condominiums and townhouses because they are more convenient and generally less difficult and time consuming to maintain. In many instances, these properties are also smaller in size than the typical single family residence.
The overseas buyers are also seen buying these types of property with greater frequency over recent years. In some instances, citizens of other nations are taking to the purchase of these types of properties in order to allow them the opportunity to have a second home in the United States.
Holiday Property in America
One of the most significant trends that has developed in regard to real estate in the United States in the past twenty years revolves around vacation property. In the 21st century, a growing number of people within the United States — as well as an increasing share of property owners from abroad — are investing in vacation and holiday property.
Investment in holiday property generally has been seen to occur in two different areas. First, people both in and out of the United States are making purchases of second homes or vacation homes for their own usage. (In some instances, these people do turn around and rent or lease out their vacation or second homes to other people during those segments of the year when they are not using the property personally.)
Second, men and women residing inside and outside of the United States can also be found investing in time shares in record numbers. A time share situation is one in which a person buys “time” in a piece of real estate. In other words, they are buying an interest in a particular piece of property that interests the purchaser during a specified period of time each and every year.
Mortgage Options
When considering the options for a mortgage on your overseas property there are a couple of choices to consider;
1. Do you consider raising finance on your existing property in the UK to cover the whole cost of your purchase abroad? A good idea if the interest rate in the country in question is a lot higher than it is here in the UK as you will pay a lot less in monthly repayments.
2. Do you secure a mortgage against the property from a local bank in the country of purchase? This can be a wise option especially if the interest rate is lower than our current UK interest rate. Most overseas mortgage / bank lenders will require upto 30% deposit on mortgages. However, you will need to give some thought to how you will service your mortgage payments each month especially if you are not living or earning in that country as you may well lose out on exchanging money each time to cover monthly expenses. Check out our Foreign Currency page to see how you can save money in this example
3. Some Builders and developers may well offer their own mortgage facilities on their properties for sale. This can be beneficial to both parties depending on the logistics of the mortgage or loan facility. Always check and compare with the two options above before making your final descision.
For more details on Mortgages in America visit our Mortgage page in the American section on our website.
Specific steps to buying real estate property in America
A person interested in making the purchase of any kind of real estate in the United States needs to give serious consideration to engaging the assistance of a qualified and licensed broker or of an equally qualified real estate service that has been established to service the needs of those people seeking to purchase investment, residential or vacation property within the U.S. When shopping for real estate in the United States, a buyer needs to keep in mind that the agent or Realtor works for the seller. The real estate agent or Realtor is legally obliged to protect and further the interests of the seller.
In addition to engaging the assistance of a qualified broker or real estate service, it is also important to note that the real estate markets found across the United States vary significantly from location to location. As a consequence, a person looking to buy real estate in the United States will want to make very certain that he or she has resources that are specifically knowledgeable about the real estate market in a particular region of the U.S.
One step that a person interested in buying real estate in the United States will want to consider taking up front is obtaining a financing commitment from a bona fide lender before beginning the search for specific pieces of real estate. In recent years, in the United States, lenders will extend mortgage facilities to people interested in purchasing real estate (provided that they are credit-worthy) in advance of identifying a particular piece of property for purchase. By having such a lending commitment in hand, a person looking to buy real estate will be in a better position to more efficiently and effectively procure real property in the least amount of time.
When making the purchase of real estate in the United States, the general practice and law in most states is that a purchaser accepts the property in the actual condition it is in at the time of the contract for sale is executed. In other words, a buyer generally buys the property in the condition it is in and cannot complain about significant defects after the deal is closed between the buyer and seller. (The one caveat is if the seller willfully and intentionally withholds material information about defects or problems of a significant nature associated with the real estate.) As a result, it is imperative that a buyer makes certain that the property is closely examined for flaws and defects before a contract for sale is finalized and certainly before the closing date on the transaction.
Once a particular piece of property has been identified for purchase, a contract is then drafted. In the United States, real estate cannot be sold in the absence of a written contract. Often, when residential real estate is sold, a standard form of contract is utilized to memorialize and effect the sale. However, if a person is making the purchase of investment or commercial real estate, more often than not a specific and individualized contract is created for the transaction.
When the contract is signed by the parties, a closing date is established. In the U.S., the closing date is the date on which all of the duties and obligations under the contract need to be satisfied — including the obligation of the seller to make certain that the title to the real estate is “clean” and including the obligation of the buyer to make certain that his or her financing is in order.
Generally, a closing date is set approximately 30 days from the signing of the contract for sale. However, there is no hard and fast rule pertaining to when the closing is to be held. The closing date is established between the parties to the real estate sales contract.
One of the items that a buyer will want to make certain he or she obtains after the contract is signed and before the closing date is title insurance. Title insurance will protect the buyer of real estate should a situation arise in which the title to the underlying real estate ends up being clouded. A clouded title is one in which another person or entity ends up having an interest in real estate that may not have been found or properly disclosed during the time period between the signing of the contact and the closing of the sale itself. For example, a prior lender may have a lien on the property that for some reason was not discovered. While such an encumbrance on the property’s title should have been discovered, there are countless examples in which mistakes occur and liens and other interests in a particular piece of real estate are not discovered. Again, title insurance protects a buyer of real estate from any expenses or loss that he or she might experience as a result of a defect in or cloud on the title to real property.
In most jurisdictions in the United States (but not all) local units of government assess property taxes on real estate. If a person is making the purchase of real estate, he or she needs to understand that they are likely to be responsible for paying a pro rata share of taxes that will be due and owing for the portion of the year of the purchase during which the buyer actually assumes ownership of the real estate. Often, the taxes will be due to be paid at the time of closing to avoid any problems between the buyer and seller in the future.
Additionally, insurance on the real estate needs to be in place to benefit the buyer on the closing date. A purchaser of developed real estate will not want to assume possession of the property without making absolutely certain that proper insurance is in place.
Property Abroad always recommends using a Solicitor or Lawyer
It has been a dismal year for house prices, according to the Global Property Guide’s latest survey of publicly-available house-price time-series for the year 2008. And seen from a global perspective, the downturn is still accelerating.
The collapse of the world’s housing markets can be seen from three points of view, and unfortunately, all of them reinforce the bad news.
During 2008, the downward price momentum accelerated, as compared to 2007.
Only 2 countries saw positive momentum in 2008 (a slower downward house price movement than last year, or faster upward movement), while 28 countries saw their housing market momentum deteriorating, compared to the previous year. The two countries with a positive momentum were Germany and Switzerland.
During 2008, house prices fell in most countries.
During 2008 only 8 out of 32 countries saw house prices rise, after adjustment for inflation, while 20 countries experienced house price falls.
In contrast, during the year 2007, the downturn was just beginning, and only 6 countries saw house prices fall, while 24 countries saw house prices rise (all figures inflation-adjusted).
Many house-price falls during 2008 were extremely severe. Countries with house price falls of over 10% during 2008 were Latvia (Riga) (37%), Lithuania (Vilnius) (27%), the US (20%), the UK (18%), Iceland (16%), Ireland (12%), and the Ukraine (Kiev) (12%) (all figures inflation-adjusted).
During the final quarter (Q4) of 2008, the downward price momentum significantly accelerated, as compared to Q3, suggesting that the situation is deteriorating.
During 2008’s final quarter, 9 countries saw house price falls of 5% or more during just that quarter. Price drops of more than 10% during this single quarter occurred in three countries – in Latvia (Riga), which saw price falls of 15%, in Ukraine (Kiev) (13%), and in Hong Kong (15%). Other countries with Q4 house-price falls of 5% and over, included the UAE (8%), Lithuania (7%), Iceland (7%), Singapore (6%), Bulgaria (5%), and the UK (5%) (all figures inflation-adjusted, except UAE).
These price falls were much greater than during the previous quarter, Q3. During that previous quarter, only two countries experienced house-price falls (inflation-adjusted) of 5% or more, and no countries experienced house-price falls of more than 10%.
REGIONAL SURVEY BY GLOBAL PROPERTY GUIDE
Europe has major problems
The Baltic countries of Latvia and Lithuania suffered the hardest price falls both in nominal and real terms. In Riga, Latvia, the average price of standard-type apartments plunged 37% during 2008. Prices have been going down in Latvia since late 2007, after a remarkable increase of about 70% in 2006. The most alarming decline took place in the 4th quarter, when prices declined by 15%, the steepest quarterly drop in real terms in any country. These price falls were triggered by increased interest rates, and by the tightened credit rules which Latvia imposed in 2007.
Average prices of apartments in Vilnius, Lithuania, fell by 27% during 2008. House prices started slowing in mid-2007, and crashed in early 2008.
House prices in the UK plummeted by 18% in 2008. Although mortgage interest rates dropped slightly, to 4.48% in December 2008, the number of loan approvals for house purchases fell 58% in 2008.
There is serious trouble in Iceland (house price fall of 16% during 2008), Ireland (12%), Ukraine (12%), Malta (9%), Portugal (8%), France (8%) Finland (7%), Norway (6%) and in Spain (6%).
North America’s woes
In the US, the centre of the global financial crisis, in 2008 house prices fell 20% according to the Case-Shiller house price index, which emphasizes urban areas. OFHEO and FHFB figures, which are associated with Fannie Mae and Freddie Mac loans and have somewhat lost credibility, suggest a smaller decline of 6% and 3% respectively, during 2008. The US government recently approved a $ 787 billion economic stimulus package, of which $275 billion will be allocated to rescue the ailing housing market.
Canada has been much less affected than the US.
Pacific heads down
Both Australia and New Zealand saw house price declines during 2008, of 7% and 8% respectively.
Asia no longer insulated
Housing markets in Asia have not been insulated. Singapore, Hong Kong and Philippines recorded house price falls during 2008.
Singapore’s private residential prices dropped 9% during 2008, in sharp contrast to the 26% price increase of experienced during 2007. The developed countries’ economic troubles adversely affected Singapore’s exports, and during 2008, output in the manufacturing sector, particularly of electronics, precision engineering and chemicals, shrank by 10.7%. Singapore was officially in recession in Q3 2008.
Hong Kong has been badly hit by the crisis. House prices were down by an average of 6% in 2008. But during the last quarter, Hong Kong experienced a severe decline in prices of 14%.
In Makati, Philippines, prime 3-bedroom condominium prices fell by 2% during 2008, after an 11% price rise during 2007. Nevertheless construction of high-rise residential buildings continues, with residential condominium stock rising by 7% during 2008, according to Colliers Philippines.
Japan recorded modest Tokyo condominium price rises of 1.2% during 2008. On the other hand, land prices in Japan’s six major cities fell by 6% y-o-y to Sep-2008.
In Shanghai, China, house price rises slowed to 5% y-o-y by the end of 2008, after peaking at 30% y-o-y to May 2008. However Shanghai is likely to be somewhat exceptional, and Xinhua News Agency reported house prices declines in 70 major cities during 2008. Shenzhen suffered the hardest fall, with prices down by 18% during 2008
UAE on shaky ground
In Dubai, UAE, despite the bleak global picture, saw surprisingly large dwelling price rises of 41% during 2008. However during the year’s final quarter, prices fell by 8% in nominal terms. This downturn is attributable to strongly tightening lending criteria, an increase in interest rates, multiple layoffs, and alarm among buyers.
Forecast: No recovery in 2009
History suggests that in a crash, housing markets take many years from peak year to full recovery. In view of this and of the pessimistic IMF forecast for the global economy, no real recovery is likely in the global housing markets this year.
The IMF has predicted that the world economy will grow by 0.5% in 2009, the lowest level in 60 years. GDP in advanced economies is expected to decline by 2% during 2009. The United Kingdom and Japan will be hit the hardest. Output in the UK may contract by 2.8%, while Japan’s may fall by 2.6%.
Growth in emerging economies is expected to slow to 3.3% in 2009, down from 6.3% in 2008. Developing Asia is forecast to be the least affected, with growth of 5.5%. China’s economy is predicted grow by 6.7% in 2009, but this is a substantial decline from 9% growth during 2008.
We cannot be optimistic for five reasons:
• Valuations still clearly remain stretched in most countries, in terms of price/rent ratios.
• Economic growth is slowing or negative in many countries, which is negative for housing values.
• There are no signs that banks are becoming more willing to lend.
• The unprecedented nature of the financial system’s collapse has greatly added to the difficulties facing the world’s housing markets.
• Some national governments are experiencing difficulty in refinancing their national debt, putting their currencies under pressure. Currency instability is likely to aggravate housing sector problems in countries where many loans were taken out in a foreign currency.
The positive news is that the US government and several others are acting with vigour, as has the IMF. Nevertheless, there is a long tough road ahead.
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Description of the Global Property Guide:
The Global Property Guide (http://www.globalpropertyguide.com) is an on-line property research house, specializing in analyzing residential property valuations around the world.
Terms of Use:
On-line newspapers, magazines, sites, etc wishing to use material from this press release MUST provide a clickable link to www.globalpropertyguide.com Sites and newspapers found not to be providing a link to us will be removed from our press list.
Requests for Comments:
Requests for comments are best made by telephone to +(63) 917 321 7073. UK-based callers should telephone before lunchtime. Our local time is Hong Kong time, i.e., standard time + 8.00
Economics Team:
Prince Christian Cruz, Senior Economist
Phone: (+632) 750 0560
Email: prince@globalpropertyguide.com
Publisher and Strategist:
Matthew Montagu-Pollock
Phone: (+632) 867 4220
Cell: (+63) 917 321 7073
Email: editor@globalpropertyguide.com
Address:
Global Property Guide
http://www.globalpropertyguide.com
5F Electra House Building
115-117 Esteban Street
Legaspi Village, Makati City
Philippines 1229
info@globalpropertyguide.com
America is known as a cultural ‘melting pot’ because so many people of different colours and creeds have gravitated to this large continent over the last century.
Among the immigrants who call America home are Hispanics from Cuba and Latin American as well as a Muslim and Jewish population.
A collection of 50 states (not including the capital of Washington D.C where the President lives), North America is known as the United States of America, or just ‘The States’ for short.
The largest of those states is Alaska, most of which is an icy wilderness and a superb place to go fishing and enjoy nature.
Texas is also a massive state, almost a country in itself and home to huge cities such as Houston and Dallas.
California on the west coast of America has long been thought of as a promised land because of its bounteous terrain which includes mountains, rainforests and a spectacular coastline.
Even further west are the gorgeous Hawaiian Islands which are renowned for having beautiful beaches, azure waters and world class surfing. Hawaii is home to amazing animals such as albatross birds and whales.
The Pacific north west states of Washington and Oregon have fantastic forests and trendy cities such as Seattle and Portland.
The eastern seaboard states are known as New England, the area where the pilgrims first landed at America. They are Massachusetts, Connecticut, Maine, Vermont, New Hampshire and Rhode Island.
Below them, leaning towards the tropics, is the state of Florida which has many well known cities including Miami and Tampa and is home to Disney World and other big theme parks.
The Mid Atlantic states of America are New Jersey, Delaware, Maryland, Pennsylvania and New York with the latter having one of the world’s most culturally diverse and intensely populated cities.
Within the middle of America there are a number of states whose geography is defined by the massive Rocky Mountains range. They are Idaho, Wyoming, Colorado and Montana, and these states are all wonderful places to experience the great outdoors in various national parks.
Conversely there are five Great Plains states and Oklahoma, Nebraska, Kansas, North Dakota and South Dakota are mostly flat with extensive prairies and forest land.
Another major area of America is known as the Midwest and includes the states of Ohio, Michigan, Wisconsin, Missouri, Indiana, Illinois, Iowa and Minnesota. Car hire Chicago is the best way to see the Midwest.
The largest grouping of states is probably the southern states of Arkansas, Virginia, West Virginia, Georgia, Tennessee, Alabama, Kentucky, Mississippi, Memphis, Louisiana, North Carolina and South Carolina. The southern states produced some of the world’s most recognised musicians such as Elvis Presley and B.B King and have also given rise to their own unique kitchen.
The states of the south west of America such as Arizona, New Mexico and Nevada have also influenced American culture because they are home to large population of Mexican Americans. The state of Utah is most famous for being the home of people of the Mormon religious faith.
Rhino car hire USA is the cheapest and most enjoyable way to do a road trip across this huge country.
Santiago and Concepción are attractive for residential property investors, Viña Del Mar less so, says the Global Property Guide
There are surprisingly large differences between returns on residential property in Chile’s main cities. The Global Property Guide (http://www.globalpropertyguide.com), the research site for residential property, released today the results of research into rentals in major cities of Chile. It revealed that:
• Apartments in prime areas of Santiago have excellent average rental yields of 8.16%.
• Apartments in the city of Viña Del Mar yield only half as much, on average, with gross rental yields of around 4.31% only.
The rental yield is the annual rental income on a property, as a percentage of today’s property purchase price. This is what a landlord can expect as return to his investment. The rental yield is one useful yardstick of whether property is over-valued or under-valued
The high yields on apartments in prime areas of Santiago – Las Condes, Providencia, and Vitacura – suggest that these Santiago areas make good residential property investments.
Apartments in prime areas of Santiago cost on average US$ 98,520 for a 60 square meter apartment, according to the Global Property Guide’s research, versus US$ 87,480 for the same sized property in Viña Del Mar. However, 120 square meter apartments are more expensive in Viña Del Mar than in Santiago.
The result? Looking across the different sizes, prices in the two cities are more or less the same, on average.
Though apartments in Santiago and Viña del Mar cost around the same, per square meter, yet Santiago apartments produce twice as good rental returns – i.e., rents for the same sized apartment in Santiago are nearly twice as high. This means that Santiago is much more attractive as a residential investment.
In the southern city of Concepción, 120 square meter apartments have excellent gross rental yields of 9.04% – also, an excellent level of rental yields, making Concepción a very attractive investment.
Why consider rental yields? Some investors in residential property may ignore rental returns, being more concerned with capital gains.
Yet even they would do well to consider rental yields. The rental yield, or price/rent ratio, is similar to the price/earnings ratio in the stock market. As in the stock market, property investments with high rental yields tend to perform better, and have higher capital gains, in the long-term.
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Extensive Report - http://www.globalpropertyguide.com/Latin-America/Chile/Rental-Yields
Description:
The Global Property Guide is an on-line property research house.
Terms of Use:
On-line newspapers, magazines, sites, etc wishing to use material from this press release MUST provide a clickable link to www.globalpropertyguide.com. Sites and newspapers found not to be providing a link to us will be removed from our press list.
Publisher and Strategist:
Matthew Montagu-Pollock
Phone: (+632) 867 4220
Cell: (+63) 917 321 7073
Email: editor@globalpropertyguide.com
Address:
Global Property Guide
http://www.globalpropertyguide.com
5F Electra House Building
115-117 Esteban Street
Legaspi Village, Makati City
Philippines 1229
info@globalpropertyguide.com
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