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FLORIDA - The Irish Times July 2009
NEW HOUSE sales in the US jumped by 11 per cent in June, providing some of the strongest evidence yet that the market has bottomed out after being savaged for three years.
There are increasing signs that the combined impact of falling prices and low mortgage rates, along with aggressive government incentives, is driving people back to the market and stirring sales.
The monthly rise was the sharpest in nearly nine years, far exceeding economists’ expectations, and followed a revised increase of 3 per cent in the previous month. House sales rose to an adjusted annual rate of 384,000, the US department of commerce said.
“[This is] more evidence that a bottom is forming in the housing market, with new home sales confirming the signal provided by other housing data,” said Alan Ruskin, a strategist at RBS Greenwich Capital.
Last week saw a rise in existing home sales and prices, while housing starts jumped by 3.6 per cent in June and housebuilder sentiment hit a 10-month high in July.
Economists at Goldman Sachs said: “At long last, the downturn in the US residential real-estate market may be drawing to a close.”
Renewed interest in the US housing market follows months of pain, as rising unemployment has fuelled soaring rates of foreclosure and put severe pressure on prices. Economists have blamed this “negative feedback loop” for dragging the US economy into the worst recession of the past 50 years.
The median price of a new house slipped in June to $206,200 (€145,000) and is down by 12 per cent year on year.
New houses have been competing with depressed prices for existing homes and foreclosed properties but low construction costs are adding to the appeal of new residential property.
Sales jumped sharply in the midwest, the northeast and the west but slumped in the south.
Greater demand is also chipping away at the housing glut. Last month the supply of new homes fell by 4.1 per cent to 281,000. That was the lowest level since 1999 and represented an 8.8-months supply of new homes, down from 10.2 in May
Source - The Irish Times
Orlando
Why invest in Orlando?
Orlando is ranked #1 for predicted job growth in the country between 2007-12
• Contains the nations largest Medical Research community
• Booming convention centre, ranked #2 in the US behind Las Vegas
• Orlandos technology industry is ranked 4th in the country, employs over 70,000 people, and includes the regional headquarters of Lockheed Martin and Harris
• Tourism – close to 50m visitors, which is increasing year on year. It is the world’s number one tourist destination and home to 6 of the 7 largest theme parks in the USA
• Over 350,000 people NET move to Florida every year, making it the fastest growing US State
• Land mass slightly less than Great Britain, with only 17m inhabitants
• There is no state tax which has positioned Florida as a shelter state for wealth for both individuals and corporations
• Florida is the hub for inward investment from Latin America - which has resulted in the State now being the one of the wealthiest in the USA and a hub for banking, finance and import / exports
• Florida has growth in venture capital with investments reaching $608 million -- up 91 percent from $319 million in 2006 -- placing it ninth nationwide
• Tourism is worth an annual estimated $57 billion to the Florida economy
• Florida ranks fourth in the country for high-tech industry employment and is the eighth fastest-growing state in terms of the technology industry.
Grupo Mall and Nicklaus Companies introduce “Golden Bear Residences” at Campeche Playa
First residential offering in Mexico branded with golf’s most iconic mark will surround a Jack Nicklaus Signature Course along the Gulf of Mexico – available in the UK & Ireland via Bridge Property International
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CAMPECHE, Mexico — the first and only residential offering in Mexico to bear the prestigious brand of golf great Jack Nicklaus was unveiled last Friday (26th October) in Campeche, with the introduction of “Golden Bear Residences.” The 2,000 residential units that make up the Golden Bear Residences will be situated along a new Jack Nicklaus Signature Golf Course, which serves as the centrepiece to Campeche Playa, Golf, Marina & Spa Resort, an oceanfront, eco-tourist complex on the Gulf Coast side of Mexico’s Yucatan Peninsula that is scheduled to open late summer 2008.
The announcement was made at Campeche Playa by Jack Nicklaus and his son Jack Nicklaus II, as well as the Governor of Campeche, Jorge Carlos Hurtado Valdez. This is the first time the Golden Bear Residences brand has been granted and introduced in Latin America. “The Golden Bear Residences brand, in concert with our Jack Nicklaus Signature Golf Course, guarantees a lifestyle that combines exclusivity and the best and most modern services in an exceptional environment, surrounded by native fauna and flora and with a different golf course that gathers mangrove, jungle and beach,” said Julio Noval, a principal of Grupo Mall. “Our teams have joined to establish the new parameters for lifestyle by combining unique experiences, with innovation and quality.”
This is Nicklaus’ first design in Campeche, a colonial city nestled on the Gulf Coast side of the Yucatan Peninsula, and one that marries Mayan history and charm with a burgeoning tourist industry. A 2-hour drive southwest from Merida, Campeche provides visitors the appeal of centuries-old dwellings and many of the old colonial Spanish city walls and fortifications which protected it from pirates and buccaneers.The area is rich in archeological wealth, including many ruins of the Maya civilization. But with all of its historic romance, Campeche also has worldwide tourist and investor appeal because of its vast activities, such as beautiful beaches, boating and some of the Gulf’s finest fishing (the Golden Bear took in some tarpon fishing on his recent visit). Now, thanks to Nicklaus, golf is becoming a major attraction. “We are excited about our involvement in Campeche Playa, first as designers of the Signature Golf Course, and now through our relationship on the Golden Bear Residences,” Nicklaus said. “I not only love the game of golf, but I am an avid outdoorsman, who enjoys tennis, fishing, boating, and diving, among other activities. Campeche Playa intends to offer all of those amenities and attractions, and we are proud that our golf course will be the central focus.”
The site for Campeche Playa is only minutes from spectacular Mayan ruins, but weaves through lush jungles and mangroves, and hugs some of the area’s top beaches. This marriage of natural lure will bring much of the personality to the Jack Nicklaus Signature Golf Course, and, in fact, the 12th hole parallels the ocean. Another key characteristic to the Signature Course is that is has been meticulously designed with respect to the existing native vegetation on the property, and sustainability measures have been carefully implemented.
Bridge Property Developer wins at International Property Awards!
Bridge Property International is delighted to announce that one of it's developer's, Tailor Made International Property B.V., the Dutch market leader in Carefree Living projects, has won two categories at this year’s International Property Awards. These prestigious awards were presented in London on 14 September 2007.
Tailor Made, the organisation from Zoetermeer in the Netherlands, specialises in unique housing concepts for the over-50 target age group and has won two awards in the categories 'Best Development in France' and 'Best Estate Agent in the Netherlands'.
The recognition of its developments in France underlines the success of Le Castèl housing project.
Le Castèl is located in le Gers, in the Midi-Pyrenees. The quality of design and build and level the services and facilities provided is extremely high, (as they are in Carefree Living projects in four other Southern European countries).
Le Castèl is being developed on the south flank of two hills near the village of Castelnau d'Auzan. The site will be divided into 111 plots, each with an average size of 725 square metres. Detached villas with private gardens and spacious apartments with balconies or terraces will be built on the plots. Le Castèl is conveniently situated between Bordeaux and Toulouse.
Now in their 13th year, the International Property Awards aim to distinguish the highest level of achievement in a range of property related fields. The organisation is part of the American CNBC network. Awards are presented per country in sixteen categories.
Panama: Law No.9 - The Holy Grail of Overseas 'Retirement'
Thanks to Law No. 9, you can enjoy a first-class lifestyle in a beautiful tropical haven while saving thousands of dollars per year on just about everything, including restaurants, hotels, entertainment, travel, and more. Even if you're not 'retired!'
Reap the benefits of Law No. 9--and start a new life in a locale that Harper's Bazaar calls 'The most beautiful retreat in the world.'
Law No. 9 is the most appealing program of special benefits for foreign residents and retirees you'll find anywhere in the world today. Although it's been in effect since 1987, it hasn't been until recently that Law No. 9, more commonly known as Panama's pensionado program, has received the attention it deserves.
Now, you may be thinking, 'Pensioner? Retiree? That leaves me out.'
Not in Panama, even if you're as young as 18 years old, you may apply and qualify as a pensionado in Panama, provided you can show evidence of a guaranteed pension income of $500 per month ($600 per month for a couple).As long as it's a pension from a government agency (e.g. social security, disability, armed forces) or from a company, you're good to
go.
As a qualified pensionado in Panama, you will be entitled to:
50% off entertainment--such as movies, theaters, concerts, and sporting events -- anywhere in the country
50% off closing costs for home loans and more...
50% off hotel stays from Monday through Thursday
30% off hotel stays from Friday through Sunday
30% off bus, boat, and train fares
25% off airline tickets
25% off at restaurants
20% off medical consultations
20% off professional and technical services
15% off at fast-food restaurants
15% off hospital bills (if no insurance applies)
15% off dental and eye exams
10% off prescription medicines
In addition, you are entitled to a one-time exemption from duties on the importation of household goods (up to $10,000) AND an exemption every two years from duties for the importation or local purchase of a car. And since you only need to be 18 to qualify as a pensionado...you may be able to 'retire' a lot earlier than you ever dreamed possible.
Brazil: ‘Real Estate investment surges’
The dramatic expansion of tourism-related real estate investment in Brazil is not merely the result of the nation’s natural beauty and tropical climate. The country boasts the largest economy in Latin America, as well as a stable democracy that respects the rights of foreign investors. Because the rules of the game are well-structured and transparent, foreign investors enjoy greater security and can more accurately forecast ROI before commercial real estate transactions are formalized.
Felipe Cavalcante, president of ADIT NORDESTE stated “Brazil offers excellent opportunities for growth in tourism-related real estate development …The professionalism of domestic players in the sector, a strong and transparent regulatory framework and a robust macroeconomic environment offer unparalleled opportunities for foreign investors. Because of this, we believe that North Americans, like the Europeans, will soon begin to capitalize on the great potential of Brazil’s tourism and real estate markets,".
(Source: Brazilian-American Chamber of Commerce, inc. March 28, 2007)
Panama: A Hot new destination!
Over the last three years Panama (pop. 2.8 million, GDP/cap US$3,200) has seen an enormous surge of foreign buying interest, pushing up the value of property by 25% per annum, or 60% over the last three years.
Foreigners love the mild climate, low cost of living, hillside resorts, and sense of peace and security. Plus, Panama has 2,800 kilometers of coasts, extraordinary natural wild life diversity (more bird species than any other country) and more than 1,000 islands of magnificent beaches.
But the country’s reputation as a hot new destination – there are frequent comparisons to Costa Rica of a dozen years ago – is as much based on the fast-paced life-style of Panama City (pop. 800,000) as it is on the beautiful beaches.
Panama City is a city of skyscrapers. Donald Trump is building the 62-story Trump Ocean Club with more than 300 hotel rooms, 500 luxury apartments as well as a casino, yacht club and a private beach. | 
