The most interesting currencies in the last few weeks, if only from a theoretical point of view for most investors, have been the Ukranian hryvnia and the Russian ruble.
February 5th, 2014 | Permanent link
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2014: A healthy year for the French property industry
The property industry has known rough days over the last seven years; the International financial and economic crises have damaged the worldwide property market. The year 2014 is currently foreseen as an opportune year within the property industry, especially for the French market if we compare the latter with the British one.
Carpe Diem, Seize the day… in France!
In the last seven days the euro did not see a great deal of action. It lost two thirds of a cent to sterling and a third of a cent to the US dollar, touching four-week lows against both currencies.
Every month the Bank of England reports how many mortgage loans were approved by banks and building societies. The figure for October was 67,701, the highest number since February 2008.
In spite of the recent slump in the property resale market after the 2007 financial crisis, in the last few months, sales have been starting to increase again. In 2007 annual property sales were 800,000 and then fell to 580,000 in 2009, the lowest levels since 1997.
After having applied some exceptional reductions on the mortgage rates in May and after a stabilisation in June, banks are now increasing the rates in July. What could explain such a rise after a 19-month period of continuous decrease?
Francois Hollande wants to reduced the waiting time to obtain an exemption from CGT on second homes from 30 to 22 years of ownership. Good news for home owners and the French real estate market, but there is still some mystery.