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Real Estate News Releases
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(EMAILWIRE.COM, July 11, 2009 ) Currently much maligned, old favourite Spain made a welcome return to the top spot in TheMoveChannel.com's June Investment Property watch chart - which tracks the level of interest in certain properties and countries from visitors to the site - perhaps signaling that potential buyers know there are real bargains to be had in the country, so long as you know where to lookÂ…
Spain
Spain, Spain, you are back in the game. Once the centre of the European property and holiday home market, Spain has had a rough time of late.
Hoards of unfinished properties have been spreading like a rash over the country as construction companies struggle to stay afloat in the midst of the credit crunch.
Developers have also been left with hundreds of apartments that they canÂ’t find buyers for and the emergence of other European markets has taken the shine off Spain.
Now, although Spain may be struggling to recapture those halcyon days of a few years ago, the sun is starting to come out for the country once again.
Experts are predicting that there will be more home sales in 2009 than there were in 2008 thanks to lower interest rates, house prices sitting at 2003 levels and investors returning in the hope of snagging a real bargain.
But, a recovery in the property sector is partly reliant on the cost of mortgage borrowing. Whilst Euribor – the base rate normally used to calculate mortgage rates in Spain – has indeed fallen to historic lows, the average interest rate charged on new mortgages is rising, making it more expensive for new borrowers to buy homes.
Dan Johnson, Director of TheMoveChannel.com, said, “There is a growing sense that Spain currently offers some fantastic buying opportunities for investors looking to plunder properties from the many banks eager to reduce their repossession stock.
“It will take considerable time for prices to recover to their former levels and in some areas there may not be much of a market for years to come.
“But some former hotspots will be quicker to recover and with banks prepared to write off losses, genuine value can currently be bought remarkably cheaply,” added Mr Johnson.
Sri Lanka
Sri Lanka is a surprise entry into the Investment Property Watch chart, but its new chapter of development and resurgence of tourism looks set to change all that.
Following the end of nearly three decades of conflict, the war-hit north of the country is now being rediscovered by foreign investors and developers after Tamil Tigers guerrillas were crushed recently by Government forces, paving the way for a phase of economic liberalisation.
The fighting has stalled Sri LankaÂ’s economic growth and both the Government and tourism authorities are looking at new ways to attract the visitors the country desperately needs in order to give its economy a boost.
The Foreign Ministry has also directed all Sri Lankan missions overseas to persuade the host countries to lift travel advisories on Sri Lanka as the country's situation has rapidly changed with the eradication of terrorism.
Sri Lanka is keen to convince visitors that the country is now safe to visit once more.
Tourism authorities have now announced plans to attract 1.5 million tourists per year by 2016. Things are already starting to look up - this year 500,000 tourists arrived, which was higher than it has been in years.
Chairman of the Sri Lanka Tourism Development Authority Bernard Goonatilake has also announced an international campaign to attract tourists from the UK, France, Germany, Russia, the Middle East and India. It will launch next month.
As well as the north of the country, the east is also being targeted for expansion, with hotels planned for the coastline, which boasts some of the best beaches in the country.
Other movers and shakers
Brazil took third place in JuneÂ’s chart, suggesting the excitement of the upcoming 2014 World Cup, which the country is hosting, has already kicked off new interest in its property sector. In fourth place was the USA, followed by Australia in fifth and Panama in sixth. Lucky number seven went to Egypt, with Spain, Greece and the UAE nabbing the last three places.
Table showing JuneÂ’s top investment properties
Rank Property Country Company
1 Lagos de Alcaidesa Spain Saffron VIP Ltd
2 Ethical Forestry Investment Sri Lanka Gama Premier Properties
3 World Cup Opportunity Brazil Dream Resorts Ltd
4 The Metro Apartments USA Knight Knox International
5 Echo Beach Australia Monopoly Property Group
6 Las Brias de Amador Panama Bridgemon International Realty
7 Arabia Boutique Egypt Key Universal
8 Renewable energy bonds Spain The Armarium Group
9 Halcyon Hills Greece Barrasford & Bird Worldwide
10 UAE PropertyIndex.com
*Results are based on number of sales enquiries generated per month.
For more information on investment property and the market in general, please visit http://investment.themovechannel.com/
-ENDS-
Notes to editors:
TheMoveChannel.com is a property website that was founded in 1999 as an online resource for buying, selling and learning about property. It now receives as many as 300,000 visits per month and advertises over 50,000 properties in nearly 90 countries, which are listed by over 500 partner organisations.
For further information as well as images and interview possibilities, please contact:
Dan Johnson
Managing Director
www.themovechannel.com
0207 952 7650
TheMoveChannel.com
Dan Johnson
020 7952 7650
dj@themovechannel.com 
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