Spanish mortgage now even cheaper

Banco Halifax Hispania (BHH), the Spanish arm of the Halifax, has reduced its euro mortgage rates. Mortgage rates of 3.193% for loans up to 60% and 3.443% for loans up to 70% of property value are now available. The loans, which are for terms of up to 30 years, must be repaid before the borrower reaches age 70.

Spain remains the most popular destination for British people buying property especially in the expatriate areas of Costa Blanca, Costa Cálida and Costa del Sol.

500,000 British citizens now own property in Spain and according to Datamonitor's 'Buying Property Abroad' report, which reveals that 36% of the tourist housing stock in Spain is owned by Britons. In addition, 37% of second homes owned by Britons outside of the UK are located in Spain.

North Sydney office market on the up

The North Sydney office market is set to bounce back, according to a new report by Jones Lang LaSalle.

Jones Lang LaSalle Research is forecasting positive net absorption and rental growth over the next two years despite the 80,000 sqm of new supply due to enter the North Sydney market over the next three years.

The vacating of Optus' 50,000 sqm from the market in 2007 is likely to affect forecasts for absorption in 2007, but the market is expected to bounce back in 2008.

Jones Lang LaSalle's director of Leasing, Richard Garing said: "We are now heading towards a period of significant structural change in the North Sydney market.

"We are likely to see greater polarisation in performance between prime and secondary grade space, the continued refurbishment of office space as well as the Milsons Point district becoming increasingly residential," he adds.

A new Dutch city

Amsterdam's new Zuidas district, located midway between Amsterdam centre and Schiphol is to become what the city calls "a business, cultural, and residential centre with international allure." The huge multi-phase project will comprise more than 10 million feet of office space and 9,000 residential units.