Roumors say that GM Building in New York will be sold this month

Bloomberg News report that "New York real estate developer Harry Macklowe plans to sell the General Motors Building on Manhattan's Fifth Avenue this month to help repay debts..."

At different information sources state, the cost of the deal will be around 3 billion dollars. This will be the largest Real Estate deal ever in history of New York.

Analysts predict that successful settlement of the deal will provide a boost to New York Reast Este prices, and help support the mortgage crisis in the US.

GE Building was built between 1931-1933, and was resold several times on always higher price.

Apartments market in Chisinau

Investment in Real Estate in Moldova was popular for a number of years. Due to high rate of growth in property market and attractive rental potentials, many small investors prefer to invest their savings into apartments in the capital of the country - relatively liquid asset with the capacity of bringing continuous revenue.

As the trust to banking system was blown away with a number of bankruptcies of some financial institutions, and large scale fraudulent schemes during and after the collapse of the USSR, real estate became the niche for personal investment.

During 2001-2008 apartment prices in the capital went up 7-10 times. At the same time average rental potential changes 3-5 times.

Moscow properties are among the most expensive, and the average rental potential is estimated at 5.18% per year in 2007. In most of Eastern European countries, rental yields do not go over 6.5%, according to Property Secrets.

Chisinau, with much lesser prices still provide an average of 7-12% per year rental potential, added by a moderate (10-15%) price growth per year.

Real Estate and Land in Moldova

Properties in Moldova are on the rise for last 5 years

Republic of Moldova is a country smashed between Ukraine and Romania.

Since the Soviet Union break-up, the country maintained its independence. After the collapse of the empire, the country chosen to develop a democratic market oriented country.

With expansion of EU, Moldova became neighbor country of the European Union. This issue along with continuous economic growth in the country triggers property prices in the country to keep on an uptrend. Underestimation of economic costs of properties and land allow successful development of projects in Real Estate with very attractive margins and growth perspectives.

Presently, Moldova Real Estate and land market are growing at 10-20% and 30-50% per year respectively.