Despite the fact that over the past few decades, many of our compatriots have moved to Israel for permanent residence, the situation on the local real estate market is still not very clear – they rarely write about details.
Real estate in Israel costs impressive amounts – this is often forgotten when ratings are made for the most expensive square meters in the world. At the same time, even though Israel is participating in hostilities – in connection with which the local real estate market periodically changes from a dynamic state to a slow one, this does not prevent the country’s government from systematically investing in the development of all areas of the state, both for local residents and tourists.
For example, this year, another international airport is planned to be opened in the popular Eilat seaside resort for tourists from around the world, new housing is being actively built in the country, hotels of international chains are opening, etc. Continue reading
2018 is coming to an end and the Homes Overseas portal sums up the results of the year together with our experts in the foreign real estate market – readers are offered a selection of all key events of this year and their analysis.
What event on the foreign real estate market do you consider to be the main one for 2018 and why?
Julia Titova, Director of RENTSALE
– It is very difficult to single out one event or one change in the legislation that has had the greatest impact on the foreign real estate market. Perhaps the most striking milestone of this year was the events in the UK, in connection with which the flow of people wishing to have passports of Cyprus and Malta, permanent residence of Spain, Greece and Portugal intensified. The general bright trend is that, on the one hand, they have become tougher to control the income of Russians at home, on the other hand, they have begun to check Russians abroad much more seriously – when opening bank accounts, obtaining residence permits, permanent residence, citizenship. Continue reading
Veneto is one of the richest and most popular regions of Italy, where not only local residents, but also foreigners seek to acquire real estate – that’s why the housing market has survived even during the crisis.
After the onset of 2008, the cost of Italian housing fell sharply, mainly due to the global financial crisis. According to the European Central Bank, real estate prices fell by about 17.5% (including inflation by 25.1%) from the 3rd quarter of 2008 to the 4th quarter of 2017.
However, now there are promising signals of a gradual recovery of the Italian real estate market in the near future – for example, in 2018 Italian real estate fell by only 0.4%, the number of transactions continues to grow steadily. At the same time, housing prices in cities are already starting to rise, while in rural areas they are still falling. Continue reading