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Cyprus 'offers similarities to UK'
2008-05-27 02:00:00
Foreign property buyers from the UK have been informed that Cyprus offers many similarities with Britain. According to BuyAssociation, motorists on the Mediterranean island drive on the left, while many people speak fluent English. The online portal added that the legal system in southern Cyprus is closely based on the existing system in the UK. Paul Collins, property editor at the website, said this could be very good for Britons who are purchasing a residence in the country with a view to living there permanently. He commented: "These are things that a lot of people look for because particularly if they're retiring, they don't want to be somewhere that's completely different." Mr Collins added that the island is "great" for lifestyle buyers such as retirees and expatriates. This comes after the Independent said that Cyprus does not seem to have been negatively affected by the worldwide financial crisis. According to the newspaper, this development re...
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Negativity has been exaggerated, says expert
2008-05-27 02:00:00
Many analysts have overstated the extent of the downturn in the global property market, an expert has claimed. According to Darren Styles, chief executive of Brooklands Group, people in the UK are still very interested in buying a residence overseas. This is despite the impact of the credit crunch on many housing markets and the negative media coverage that has come about as a result. Mr Styles said: "It's a tribute to the strength of our brand and the resilience of our industry." He added that much of the negativity about the effect of the credit crunch on the overseas property sector has been exaggerated. Mr Styles was speaking after it was revealed that more than 13,000 people visited the recent A Place in the Sun Live show in London, which was organised by Brooklands Group. According to research by the event's affiliated magazine, Spain and France are still the two most popular foreign markets among British buyers.  
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Indianapolis 'most affordable housing in US'
2008-05-23 02:00:00
For the 11th consecutive time, Indianapolis has been labelled the most affordable housing market in the US, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. Of houses sold in the first quarter, 90.1 per cent were affordable to families earning the area's median household income of USD 65,100 (GBP 33,000), which may also interest those looking for an investment opportunity. This is a sizable proportion compared to the nationwide results which report that only 53.8 per cent of all new and existing homes sold were affordable to those earning the national median of USD 61,500. The smaller metro market showed that Kokomo in Indianapolis outstripped all others with 95.3 per cent of homes affordable to those on median income. As customer service ratings are increasingly important in the home building sector, the publishing branch of the National Association of Home Builders has released Beyond Warranty: Building Your Referral Business to ai...
More About: Affordable housing

Egypt's tourism on the up, says report
2008-05-23 02:00:00
A new report from the United Nations' World Tourism Organisation could be good news for anyone considering investing in property in Egypt. It has been revealed that tourist levels in Egypt increased by 20 per cent during 2007, which has increased demand for property, reports Homes Overseas. Speaking on behalf of La Siesta Tourism and Real Estate Services, Marion Isom explained: "This is excellent news for the buy-to-let market. "Tourism figures always have an effect on the property market of a region and this rapid growth in interest in this amazing country is a welcome step forward." Property seekers could also benefit from moves by the government to encourage financial input, resulting in tax incentives for foreign investment. Meanwhile, those considering make the move from staying in hotels to resting in their own property may be interested in news surrounding the Grand Hyatt Hotel in Cairo. It has been reported by the BBC that the owner, Sheikh Abdulaziz a...
More About: Report

Property prospects in Turkey 'improved by EU talks'
2008-05-23 02:00:00
Potential membership of the European Union (EU) could improve many aspects of Turkish living, which may interest those considering purchasing property in the country. A report by Amberlamb looks at the hopeful predictions made about Turkey as an investment destination, made as it prepares for the busy tourist season with and following news that a positive economy is improving prospects. Turkey has been seen by analysts to be making strong progress in its attempts to become a member of the EU, which has involved reformation of 35 policy chapters - six of which are currently being developed. It has also been revealed that since talks between Turkey and the EU commenced in 2005, there has been a notable increase in foreign direct investment - of which property plays a role. Foreign investment has also been improved thanks to news such as an increase in trade between Austria and Turkey, with a report from Select Property suggesting that 335 Austrian companies were working in Turkey ...

The Cape Verde Government Throw a Lifeline to Investors Buying Furniture Pa
2008-05-23 02:00:00
In a unique and unprecedented move, the Government of Cape Verde has commissioned an initiative, Cabo Verde Iniviativ SA (CVI) to protect the interests of its many overseas property investors who have purchased in their country and to ensure that mistakes made in previous property investment hot spots elsewhere in the world, are not repeated. The Government has taken this step to secure their long term strategy for economic growth and stability in their newly developing residential tourism sector. All companies operating under the CVI umbrella abide by a strict code of conduct, thereby removing in its entirety the risks in dealing with unreliable suppliers, as has been the painful experience of many investors in other countries. Propertyshowrooms.com has long been a leading provider of information and resources for purchasers in Cape Verde, with the safety in mind that the agreement is in accordance with the local government. This arrangement will allow current and future buyers of ...
More About: Buying , Furniture , Throw

New flights draw Brazilians to Dubai
2008-05-22 02:00:00
The introduction of new flights between Brazil and Dubai has boosted visitor numbers in the emirate, it has been revealed. According to the region's tourism and commerce marketing department, Dubai is likely to attract about 20,000 Brazilian holidaymakers this year. Hamad Mohammed bin Meiren, head of the department, stated that this is about twice the amount recorded in 2007. Speaking to ANBA, he said Dubai's growing popularity with Brazilian tourists is largely due to the introduction of new flights between the two locations. Mr Meiren commented: "We are glad to see more Brazilians there and word-of-mouth advertisement has many people wanting to get to know Dubai." This will be a positive development for owners of rental accommodation in Dubai, as it means their services are likely to be in greater demand over the next few months. As a result, the emirate could be a good location for prospective buy-to-let investors to consider. According to official government f...
More About: Flights , Draw

Investors advised to consider Moroccan market
2008-05-22 02:00:00
Overseas property investors have been advised to enter the Moroccan market sooner rather than later. According to property expert Fouad Akalay, the north African country is currently enjoying considerable growth in its tourism industry. Speaking to the Telegraph, he stated that this has had a direct impact on its housing market, as it has triggered a property boom. This means that investors who purchase a residence in Morocco can expect their acquisition to go up in value relatively quickly. As a result, they could potentially make a considerable profit should they choose to sell up at a later date. However, this also means that investors who enter the market earlier will benefit the most, as houses will still be fairly cheap if they do not delay. Mr Akalay commented: "Early investors should expect capital growth of 20 to 30 per cent for the next several years." This comes soon after NuBricks.com described a property in Morocco as "a smart buy".  
More About: Market , Investors

UK migration 'at record levels'
2008-05-22 02:00:00
The number of people choosing to leave the UK and live abroad has reached record levels, experts have revealed. According to official statistics, nearly two million British nationals have emigrated during the last decade. Commenting on the figures, the Institute for Public Policy Research (IPPR) said these are the highest ever recorded. This is despite the fact that larger proportions of the population have moved overseas at various points in Britain's history, such as during the mid-19th century. Jill Rutter, senior researcher at the IPPR, commented: "This is the numerically highest emigration ever." Speaking to the Guardian, she added that the growing popularity of living abroad is partly due to increased personal wealth in Britain. Earlier this week, Conservative immigration spokesman Damian Green took a different line, saying they indicate the dissatisfaction with the current Labour government. Speaking to the Daily Mail, Mr Green said people are "fleeing&...
More About: Record

Britons snap up Australian properties
2008-05-21 02:00:00
People from the UK are among the most prolific buyers of property in Australia, new figures have revealed. According to the Real Estate Institute of Australia, Britons are third-largest group of foreign property buyers in the country, reports Homes Overseas. Statistics from the group showed that British investors bought more than £1.27 billion worth of property in Australia last year. This accounts for more than a tenth of the overall amount of foreign investment in Australia attracted last year. Britons were only outnumbered by people from Singapore, along with investors from the US. Figures showed that New South Wales was one of the main hotspots for foreign buyers during 2007, along with Queensland. Collectively, these two regions were said to account for nearly half of the overseas investment in Australia last year. This comes after the country was described as a "safe bet" for investors by the Foreign Property Buyer website.  
More About: Snap , Australian , Properties

Dubai attracts top-end holidaymakers
2008-05-21 02:00:00
Dubai has gained a reputation as a luxury holiday destination, a travel industry expert has stated. Frances Tuke from the Association of British Travel Agents said the region is a "four or five star" location which appeals to affluent visitors. This, she said, has led to tourism generating considerable sums of money for the Dubai economy, which are being pumped into the sector to improve it further. Ms Tuke believes its emergence as a leading holiday destination has had a profound impact on Dubai and its economic performance in recent years. She commented: "Dubai, quite a while ago, was really just a desert state; [now] it's one of the fastest growing cities in the world." According to official government figures, Dubai attracted more than six million holidaymakers in 2007. Tourism was said to account for about 18 per cent of its gross domestic product during this period.  
More About: Dubai

British expats 'unhappy with government'
2008-05-21 02:00:00
British nationals are choosing to leave the country because they are unhappy with the government, a Conservative MP has claimed. Tory immigration spokesman Damian Green said the recent increase in outward migration from the UK is a "sad reflection" of a decade of Labour rule. He was speaking after the Office for National Statistics revealed that more than 1.5 million people opted to pack their bags and move abroad between 1997 and 2007. The body also stated that the number of Britons leaving the country each year has crossed the 200,000 mark for the first time. Speaking to the Daily Mail, Mr Green commented: "Gordon Brown has been prime minister barely a year and people are fleeing the country." This comes after a poll by Robinsons International found that Mr Brown is the person that Britons would be most pleased to see the back of if they lived abroad. The prime minister was ranked in first place, just ahead of his predecessor Tony Blair.  
More About: Government , British

Tourists seek 'exotic' locations
2008-05-20 02:00:00
Holidaymakers from the UK are increasingly choosing to venture to more exotic locations, analysts have stated. The Association of British Travel Agents revealed that emerging economies and mid to long-haul destinations are becoming more and more popular. Frances Tuke, spokesperson for the group, said this is partly because they are exotic, developing locations which can offer a different type of holiday experience. In addition, she stated that authorities in these countries have invested in providing services and infrastructure for foreign leisure travellers. This means these places could be good locations for overseas property investors to consider, as the increase in visitor numbers is driving growth in their rental markets. Furthermore, new infrastructure developments and demand for property in major hotspots could potentially push up property values in prime locations. This comes after Dubai Tourism and Commerce Marketing revealed that about seven million people booked acc...
More About: Tourists , Locations , Seek

Travel agent welcomes new Spanish flights
2008-05-20 02:00:00
A travel agency in Norfolk has welcomed the launch of direct flights between Norwich and Spain. Global Travel Lounge, which has outlets in Sprowston and Great Yarmouth, stated that the news has been met with a positive response by local people. Nash Al-Muhsen, operations director at the firm, said the launch of flights to Spain by LTE International Airways could be particularly good news for those who own property in the country. Speaking to the Norwich Evening News, he commented: "There are many retired people in Norfolk and lots of people who own Spanish properties along the Costas, so there is a big local market." LTE will begin operating services from Norwich International Airport to Alicante, Palma and Barcelona this summer. This comes after Reuters has cited official figures showing that during the first quarter of the year, Spain attracted 10.6 million holidaymakers.  
More About: Agent , Flights

Britons seek employment overseas
2008-05-20 02:00:00
The number of Britons who chose to emigrate abroad between 1997 and 2006 has been described as "probably the greatest period of emigration we've ever seen". Jill Rutter, senior migration office at the Institute for Public Policy Research, told the Telegraph that this is partly due to the relatively new trend of retirees emigrating to countries. However, she said it is also due to the "more internationalised labour market and workforce", which has made it easier for people to work abroad for a period. A NatWest report on expatriates showed that of the 200,000 who left the country in 2006, two-thirds went to live abroad with four in ten of those professionals or managers. The Conservative Party has claimed that the statistics reflect how many Britons are becoming disgruntled with high taxes and crime rates to the extent that many are leaving their home country. The Office for National Statistics will release figures showing that 1.97 million Britons left...
More About: Employment , Seek , Overseas

First-time buyers look abroad
2008-05-20 02:00:00
First-time buyers (FTBs) from the UK are increasingly considering investing abroad, an expert has revealed. Nick Fullerton, managing director of FC Exchange, stated that the housing market in Britain is currently in a state of "turmoil". This, he said, has led to people who are looking to get on the housing ladder for the first time looking elsewhere. Mr Fullerton said FTBs do not wish to take a hit in the domestic market and believe that investing abroad offers better growth potential and value for money. He added that other buyers in the UK are concerned about the plummeting house prices in Britain and would prefer to invest in expanding markets overseas. As a result, FC Exchange has seen a surge in the amount of enquiries related to purchasing a house abroad. Mr Fullerton said: "These record figures are encouraging and demonstrate the continuing appetite to invest in overseas property." According to research by A Place in the Sun magazine, France and Sp...
More About: Time , Buyers , First Time

New powerful search tool revealed by international property investment expe
2008-05-19 02:00:00
For the first time ever, LIVE up to the minute statistics about worldwide property searches are available in the public domain. Property showrooms.com have taken the property investment industry by storm, with its new Live Property Search Index. It’s a tool available on the company’s investment website, which enables the user to find up to the minute search trends, from a database of more than one million search requests. Every time a client searches for investment property in places like Dubai, Morocco, Brazil, and Panama for example, the country they’ve searched for is logged into our database. It can then be used to show the most popular locations, including countries, regions, towns, types of property, and price range. “For media professionals and investors alike, this is the most powerful search tool available anywhere on the web today. It really is a tremendous source of information,” says Managing Partner of Propertyshowrooms.com Steve Binge. He c...
More About: International , Investment , Tool

Cape Verde tipped to become international hub for trade
2008-05-19 02:00:00
The Cape Verde islands could become a major hub for international trade and commerce, a leading diplomat has said. Marianne Myles, the new US ambassador to the west African nation, stated that the country is situated along an important global shipping route. In addition, she said the country has established a special relationship with the US, the European Union and has become a member of the World Trade Organisation. Therefore, she believes it could become a "transatlantic bridge" for trade, investment and tourism. Ms Myles commented: "Cape Verde is a success story in Africa." "[The country] has made major improvements and achieved high levels of performance." She added that Cape Verde has becoming an African "success story", as it is one of the oldest and strongest democracies in the continent. According to the Organisation of Economic Cooperation and Development, Cape Verde's economy grew by 6.6 per cent last year. Figures cited by ...
More About: International

Cyprus overtakes established property markets
2008-05-19 02:00:00
Cyprus has been ranked ahead of many established property markets in a poll of the most popular foreign destinations. According to research by Jet-to-Let magazine, the Mediterranean island is the main hotspot of activity for property buyers from the UK this year. This is the second year in succession that Cyprus has headed the list, ahead of traditional destinations such as France, Italy and Spain. The publication also highlighted the growing trend of people choosing to invest abroad rather than in the UK. Dominic Farrell, editor of Jet-to-Let magazine, attributed this to a number of positive economic circumstances in Cyprus. He commented: "The adoption of the euro, the interest rate cut, oil and gas finds offshore and low taxes continue to make Cyprus very attractive for investors and homebuyers alike." This comes after the Independent said that Cyprus does not seem to have been negatively affected by the worldwide financial crisis. According to the newspaper, thi...
More About: Property , Markets , Cyprus

Australia recommended to investors
2008-05-19 02:00:00
Overseas property investors in the UK have been advised to consider purchasing a residence in Australia . According to the Foreign Property Buyer website, there is currently very strong demand for housing in the antipodean nation. This was partly attributed to the fact that Australia's population is continuing to rise. Specifically, the country was said to be very popular with migrant workers, in particular skilled professionals who want a good job and a high standard of living. Foreign Property Buyer added this demand means that Australia is well-placed to weather the ongoing turbulence in the global economy. As a result, it believes the country could be ideal for Britons who are seeking a secure investment overseas. "Australian property looks like a fairly safe bet for many foreign property investors," the website commented. Paul Arthur, director of The Emigration Group, recently told the Western Mail that the country is proving to be very popular with skilled pr...
More About: Investors

New powerful search tool revealed by international property investment expe
2008-05-19 02:00:00
For the first time ever, LIVE up to the minute statistics about worldwide property searches are available in the public domain. Property showrooms.com have taken the property investment industry by storm, with its new Live Property Search Index. It’s a tool available on the company’s investment website, which enables the user to find up to the minute search trends, from a database of more than one million search requests. Every time a client searches for investment property in places like Dubai, Morocco, Brazil, and Panama for example, the country they’ve searched for is logged into our database. It can then be used to show the most popular locations, including countries, regions, towns, types of property, and price range. “For media professionals and investors alike, this is the most powerful search tool available anywhere on the web today. It really is a tremendous source of information,” says Managing Partner of Propertyshowrooms.com Steve Binge. He c...
More About: International , Investment , Tool

Moroccan tourism boosts investment potential
2008-05-16 02:00:00
Efforts to boost tourism in Morocco could potentially make it more appealing to property investors, analysts have suggested. According to NuWireInvestor, the government wants to stimulate further economic growth by attracting more visitors to the north African country. The website believes this could be a positive development for overseas property investors, as it could also lead to growth in the housing market. NuWireInvestor commented: "Plans to create more jobs and increase tourism by 2010 are likely to boost Moroccan economy and the property market in the next two years." This, it continued, means that Morocco could be a good location for overseas property investors to consider. Prospective buyers were encouraged to buy a property in the country before the market "peaks". This comes after the Foreign Property Buyer website said that the government's plan to increase the number of visitors to Morocco over the next two years "bodes well" f...
More About: Tourism , Investment

Panama attracts more foreign property buyers
2008-05-16 02:00:00
Panama is becoming more and more popular with foreign property buyers, according to industry experts. Analysts at Amberlamb stated that the "world and his wife" have become aware of the investment potential in the Central American country. However, the organisation recommended that investors avoid Panama City and consider places such as Penonome instead. Amberlamb said it is a highly accessible place which offers a number of lifestyle and financial attractions. The group commented: "It's already emerging as a tourism hotspot for city dwellers seeking the laidback vibe that Penonome really embodies." Furthermore, the region was said to offer attractive architecture, good scenery and relatively cheap real estate prices. Amberlamb added that property values are likely to "creep up" in response to growing demand, which means buyers could get a relative bargain if they enter the market early. This comes after the Foreign Property Buyer website reveal...
More About: Panama , Buyers

Tourism boosts South African investments
2008-05-16 02:00:00
Owners of rental accommodation in South Africa are benefiting from a strong tourism sector, it has been reported. According to Homes Overseas magazine, visitor numbers in the country went up by about nine per cent last year. This was said to have resulted in the holiday industry generating nearly £25 billion for the national economy. As a result, many buy-to-let investors will have seen increases in their occupancy rates and rental yields. Furthermore, this trend of upwards growth is expected to continue in the run up to the football World Cup, which is being staged in the country for the first time in 2010. South Africa's government recently revealed that it wants to attract ten million foreign visitors in two years time. According to deputy tourism minister Rejoice Mabudafhasi, visitor numbers have gone up by 1,415 per cent in the last 14 years, reports AllAfrica.com.  
More About: Tourism , Investments , South African , African

Propertyshowrooms.com reveals Panama as the new major hot spot
2008-05-15 02:00:00
May 24, 2008 Panama is one of the new property hotspots for international investors, according to Propertyshowrooms.com, one of the largest property web portals in the world. The company has unveiled its latest stunning development in Panama, as the country gears itself up to being one of the most attractive real estate areas in the world. The new development, which is ideal for investors, consists of a 58 storey designer tower situated on a waterfront location in the prime business district of Panama City – the most in demand area of the metropolis. “Panama offers a number of highly efficient tax exemptions and incentives, making it an excellent location in which to do business,” says Propertyshowrooms.com Operations Manager Gareth Milton. He continues: “Investment in the real estate sector is at record levels in Panama, boosted by the fact that the government there is actively encouraging foreign investment. This requires only the best residential and comme...
More About: Spot , Major

Investing abroad could be lucrative
2008-05-15 02:00:00
British investors have been told that the current downturn in the property market could make a foreign investment a better option. The Telegraph stated that house prices in the UK are currently falling and are not likely to increase significantly in the foreseeable future. By contrast, it stated that many foreign countries are seeing considerable growth in their housing markets, which means that properties are appreciating in value. As some of these places also offer much cheaper housing than the UK, investors could be able to snap up a cheap property and sell it on at a profit. This means that many of those who have been priced out of the domestic housing market could find themselves able to afford a deposit for a British property. The Telegraph commented: "UK property prices show no signs of lifting in the near future - quicker gains may be found by investing overseas." Meanwhile, the Sunday Mirror has reported that more and more British first-time buyers are choos...
More About: Investing

Scots look to escape credit crunch abroad
2008-05-15 02:00:00
Continuing financial pressures in the UK are prompting many Scottish people to consider emigrating, a survey has found. According to a Legal & General Study, nearly one in five Scots are prepared to leave the country in order to avoid the effects of the credit crunch. Only three per cent of those surveyed said they consider themselves well off, while most respondents raised concerns about the rising cost of living in the UK. Speaking to the Scotsman, Mark Wallace of the Taxpayers Alliance said: "This is a shocking indication of how inhospitable this country has become for ordinary people trying to make a living." Tim Warren, spokesperson for Legal & General, added that he was very surprised by the findings. He said it is "startling" that so many people from Scotland would be prepared to pack their bags and leave the country for sunnier climbs such as Italy and Spain. Last month, a poll of expatriates by NatWest revealed that the vast majority believ...
More About: Credit , Crunch , Escape

Investors 'need to research market before buying'
2008-05-15 02:00:00
Foreign property buyers from the UK need to carry out thorough research before buying, experts have said. According to the Your Mortgage website, purchasing a home in Spain or France can be just as stressful a process as buying in Britain. Therefore, it has recommended that people who are thinking of entering a foreign market try to reduce the likelihood of encountering problems. The online portal said prospective buyers need to find out as much information about their chosen market as they can. In addition, it suggested that people try to avoid letting the prospect of buying a dream home cloud their judgement. Your Mortgage added: "Dedicated research is even more important when negotiating a sale in another country and, presumably, another language." According to research by A Place in the Sun magazine, France and Spain are currently the two most popular markets with British property buyers.  
More About: Buying , Research , Market , Investors

Egyptian tourism set to boost rental demand
2008-05-14 02:00:00
Rental accommodation in Egypt is set to be in strong demand this summer, it has emerged. According to TUI Travel, the north African country is proving to be one of the most popular destinations for British holidaymakers this year. The firm added that people's appetite for travelling abroad has not been negatively affected by the recent problems in the global economy, such as the credit crunch and increases in the cost of living. Peter Long, chief executive of TUI, said trading conditions are "buoyant" and that sales are up on last year. This suggests that some owners of rental accommodation in Egypt could be set to see increased demand for their services over the summer. Mr Long commented: "We see no evidence of deteriorating consumer sentiment in our booking patterns, in the average holiday duration booked, average selling price or cancellation rates." This comes after Cheapflights.co.uk revealed that consumer interest in the Egyptian resort of Sharm El S...
More About: Tourism , Rental , Boost , Demand

Southern Italy recommended to investors
2008-05-14 02:00:00
Foreign property investors have been advised to consider potential opportunities in Italy . The International Property Investment Network (IPIN) said the south of the country is becoming more and more popular with buyers from overseas. Bernardo Retana, director of IPIN, highlighted property in Calabria as one of the main hotspots for foreign investors. Commenting on the region, it said it offers attractions such as unspoiled surroundings, easy access and a growing tourist trade. Therefore, it could be an ideal market for buy-to-let investors who wish to purchase a property in a rapidly expanding market. Mr Retana observed: "Calabria will inevitably become one of the most popular locations over the next five to ten years." He added that the enforcement of strict planning regulations along the coast means it is likely to remain an attractive location. Limits on new building work have been designed to make sure the province retains its natural beauty. According to the ...
More About: Southern , Investors