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Turkey offers bargain properties
2008-04-29 02:00:00
Property analysts have highlighted the differences between property values in the UK and Turkey .According to A Place in the Sun Live, British buyers will be required to spent about £300,000 on a typical apartment in London.However, this "wallet-wincing" sum could be used to secure three much larger properties in prime Turkish locations.The group said a two-bedroom apartment in Bodrum can be purchased for about £64,000, while a further £220,000 and £20,000 will snap up a villa in Dalaman and a studio in Altinkum respectively.These three properties, which are all located close to the coast, are collectively worth the same amount as one flat in the British capital.A Place in the Sun Live commented: "Rather than stretch their finances to afford this kind of property, Londoners can get more for their hard-earned money abroad."This comes after Business Week stated that property values in Turkey are also much cheaper than those in other Mediterranean locations such as Spain or Italy.
More About: Bargain , Offers , Properties

Algarve attracts British tourists
2008-04-29 02:00:00
Owners of rental accommodation in the Algarve could be set to see strong demand this summer, experts have suggested.According to Holidays-Direct, the Portuguese tourist hotspot has attracted considerable interest from British holidaymakers in the last few months.The online travel agency said that during the year to date, it has been the subject of the most searches on its website.This has prompted it to predict that lots of British holidaymakers will flock to the region for their summer holidays this year.As a result, owners of buy-to-let property in the Algarve should benefit from higher occupancy rates and rental returns.Jon Pearce, spokesperson for Holidays-Direct, commented: "With some of Europe's most attractive and cleanest beaches, exceptional landscapes and year round sunshine, the Algarve is quite rightly a holiday hotspot for British tourists looking for some sun."He added that the region is proving to be popular because it offers lots of leisure attractions at a "relativ...
More About: Tourists

Spanish market 'will pick up'
2008-04-28 02:00:00
Overseas property buyers have been reassured that the Spanish market will pick up again in the future. The Spanish Property Owners Guild said some consumers' confidence in the country has declined as a result of negative media coverage in the market. However, spokesperson Paul Bradley insisted that all markets tend to go through "peaks and troughs". He insisted that the fundamentals which support the Spanish property market, such as its easy accessibility and year-round-weather, will ensure that it remains a hotspot for British property buyers. Mr Bradley commented: "Spain will continue as a popular venue for both holidays and second home ownership." He added that the market is currently benefiting from growth in the tourist sector, as visitor numbers have gone up by seven per cent in the last year. This comes after the Association of International Property Professionals revealed that Spain was the most popular foreign market among Britons in 2007.
More About: Market , Pick

Save money outside eurozone, tourists are told
2008-04-28 02:00:00
British consumers have been advised to consider heading outside the eurozone for their summer holidays. Holiday-Rentals stated that if leisure travellers visit countries which are not in the single European currency, they could get more for their money. This is because the pound is currently at a record low against the euro, which is itself 17 per cent stronger than it was a year ago. As a result, the cost of a trip to traditional holiday destinations such as France is likely to be relatively high. Holiday-Rentals commented: "Travelling to western Europe will be at its most expensive this summer. "It may be worth looking beyond the usual haunts and outside the eurozone." North African countries including Egypt and Morocco were highlighted as potential options for holidaymakers, along with eastern European nations such as Croatia. This comes after currency specialist Travelex stated that leisure travellers are becoming "increasingly savvy" with regards...
More About: Money , Save Money , Tourists , Save , Told

New UK-Spain flights to be launched
2008-04-28 02:00:00
Owners of rental accommodation in Spain are set to benefit from the launch of new flights from the UK. LTE International Airways will begin offering flights to Norwich International Airport from Alicante, Palma and Barcelona in July. This is a significant development for consumers who live in the Norfolk region, as it means Spain is now far more accessible. As a result, it is likely that the new destinations will attract an increased number of visitors this year, thereby boosting its rental market. Commenting on the new flights, Richard Jenner of Norwich Airport said he is "delighted" to welcome LTE to the facility. Speaking to the Norwich Evening News, he remarked: "Norwich is the only UK airport they are going to be flying from and they want to be the airline for Norwich when it comes to flying to Spain." 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: Flights , Launched

Investors 'should seek out professional opinion'
2008-04-25 02:00:00
Overseas property investors have been advised to not to rule out seeking professional advice when buying abroad. According to a recent study by Defaqto, more than a quarter of buyers prefer to rely on their own judgement instead of consulting an expert. The research also showed that a similar proportion are likely to favour the advice of a friend or relative, while one in ten would consult their spouse or partner. Commenting on the findings, NuBricks.com urged people to overcome their apparent discomfort with getting a professional opinion. The website commented: "It is important to seek a variety of opinions on your chosen property before committing significant funds to the investment." NuBricks.com added that investors should also bear in mind that many independent financial advisers are remunerated by commission from the property developer. This comes after broadcaster Amanda Lamb revealed that the number of Britons who are looking at buying property abroad is now...
More About: Opinion , Investors , Professional , Seek

Cyprus attracts British property buyers
2008-04-25 02:00:00
Cyprus is one of the most popular foreign destinations for British property buyers, an expert has revealed. Property author Nigel Howarth said more than 60,000 UK nationals own property on the Mediterranean island - a figure which can only be beaten by France and Spain. He stated that the country offers a number of financial attractions which make it a prime location for investors. Speaking to the Telegraph, he revealed that it has the lowest level of income tax in Europe and relatively low property prices. Mr Howarth commented: "They are approximately 20 per cent lower than equivalent properties in Portugal." He added that demand among British property buyers is currently on the rise, a development which is pushing up property values across the island. 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 represents a "convincing case&quo...
More About: Cyprus , Buyers

Portugal offers capital growth prospects
2008-04-25 02:00:00
Property investors who are seeking good capital gains have been advised to look at the Silver Coast in Portugal . According to the Telegraph, the region offers relatively cheap property values when compared with other Portuguese hotspots. However, the high level of interest in the market among overseas property buyers has led to a surge in house prices during recent months. This has prompted the newspaper to recommend the Silver Coast to investors who are on the look-out for a lucrative investment. Commenting on its potential, the Telegraph said: "As a new destination, still to be fully explored, property prices on the Silver Coast are currently lower than other areas." The publication added that the high demand for property in the area means that investors should have little difficulty selling their residence on after it has appreciated in value. Portugal's popularity with second home buyers was recently highlighted by the Irish Independent, which said its lack of &...
More About: Growth , Offers , Capital

Smart Investment at Prados del Golf, Costa del Sol
2008-04-25 02:00:00
According to The International Property Investment Network (IPIN), experts in overseas real estate choices, despite recent negative press, now is the time to buy in prime locations of Spain. While exhibitors at SIMA this month were down by 20% on last year, the Spanish contingency remained decidedly upbeat and certain investment options such as Prados del Golf are in fact offering buyers the same kind of prices and longer term potential as were enjoyed in Spain over years gone by. Capital outlay of only 20,000 EUR for well-located 2 bedroom golf apartments make Prados del Golf highly attractive to keen investors looking for below market value and minimum money down.  Finance packages cover everything else (including furniture, VAT and purchase costs). This is possible due to the unique financing package that has been formulated by IPIN?s finance partners, which uses the performance and stability of currencies the world over to offer its clients the best and most competitive ra...
More About: Smart , Costa

Families head to traditional tourist hotspots
2008-04-24 02:00:00
Rental investors could find high demand for their services in mainland Europe this summer. According to a poll by MyChild.co.uk, about two-thirds of parents in the UK are planning to take their children abroad with them during the school holidays. Research showed that Spain was the clear favourite among this group, although France was also found to be rated highly. This suggests that owners of rental accommodation in family-friendly tourist destinations could be set to see considerable demand this summer. MyChild.co.uk also revealed that ongoing economic problems such as the credit crunch are not putting consumers off foreign travel. Denise Roberts, resource manager at the group, commented: "Families are increasingly seeing the family holiday break as a necessity rather than a luxury." This comes after Reuters cited official figures showing that during the first quarter of the year, Spain attracted 10.6 million holidaymakers.
More About: Head , Tourist , Traditional

Expats urged to 'embrace foreign way of life'
2008-04-24 02:00:00
British people who move abroad have been urged to try their hardest to fit into their new community.Steven Quinn, who has been living abroad since 2001, said expatriates would get more out of the experience if they tried to assimilate.Speaking to the Sun, he recommended that people dispense with their UK lifestyle if they wish to integrate fully.Mr Quinn told the newspaper: "We have found that you have to embrace the new cultures and the way that they live."He added that if people follow this advice, they will find it easier to settle into their new place of residence.This, he said, would make the reality of living in another country meet their initial expectations.Earlier this month, a report in the Telegraph stated that many British people are thinking of packing up and leaving for another country. This was largely attributed to the current state of the UK economy, which has led to increases in the prices of groceries, fuel and other necessary expenses.
More About: Life , Foreign , Embrace

Cypriot authorities praised for euro transition
2008-04-24 02:00:00
Authorities in Cyprus have been praised for their handling of the recent change in currency.The Euro pean commission (EC) commended the island for ensuring the transition to the euro went smoothly and efficiently.According to a poll by the organisation, most Cypriot nationals believe the changeover went according to plan and without significant disruption.Furthermore, 95 per cent of respondents were found to have got used to the new notes, while 81 per cent can easily identify each coin.The EC went on to praise authorities for ensuring that inflation was kept at a reasonable level during the transitional period.This was partly because in recent months, many European nations have been dealing with soaring living costs, oil prices and energy bills.Cyprus became a member of the euro on New Year's Day 2008 along with Malta, which means 15 countries now use the single currency.This comes after the Independent stated that Cyprus does not seem to have been negatively affected by the worldw...
More About: Authorities , Transition

Credit crunch 'could be good for investors'
2008-04-23 02:00:00
The ongoing credit crisis could create potential investment opportunities across the world, experts have suggested. According to Amberlamb, the recent drop in consumer confidence has made some property sellers desperate to offload their stock. Rhiannon Davies, director of the group, said this is particularly apparent in countries which have historically had a strong housing market. She believes that since these locations are still supported by strong "fundamentals" and are likely to recover at some point in the future. Therefore, buyers could potentially snap up a bargain during this downturn and wait for the market to pick up again in the future. Ms Davies commented: "Those who buy in very low today and cash in on the financial crisis will reap the dividends over the long-term." This comes soon after Foreign Property Buyer recommended that investors see what "freebies" are being offered by developers. According to the website, prospective buyer...
More About: Credit , Good , Investors , Crunch

Rental demand set to grow in Algarve
2008-04-23 02:00:00
Thousands of people are set to take advantage of new flights between Britain and the Algarve , an airline has stated. Earlier this week, budget carrier easyJet began operating its new service from Glasgow to the region's capital Faro. The airline has predicted that during the next 12 months, it will transport about 16,000 leisure travellers on this route. This means that rental accommodation across the Algarve is likely to be in much higher demand this year, a development which could prove highly lucrative for those who own property in the area. David Osborne, UK general manager at easyJet, commented: "This direct route to Faro has already proven a popular choice and will offer all Scots the opportunity to experience the glorious Algarve from their local airport." This comes after official figures revealed that the European country attracted 23 million holidaymakers during 2007 - an increase of five per cent on the previous year.
More About: Rental , Grow , Demand

More Britons tipped to visit Spain
2008-04-23 02:00:00
The number of British holidaymakers in Spain is set to increase this year, according to a tourist official. Ignacio Vasallo of the Turespana Spanish Tourist Board in London said the country will continue to attract people from the UK, despite the impact of ongoing economic problems. Speaking to the Majorca Daily Bulletin, he was so optimistic that he forecast a two per cent increase in visitor numbers. The pound recently fell to an all-time low against the euro, thereby making a trip to Spain more expensive for British consumers. However, Mr Vasallo said property prices in Spain still compare favourably with many other European countries. He commented: "Spain is still one of the cheapest eurozone destinations so the slight increase in a bottle of beer, for example, is not going to turn people away." Meanwhile, Reuters has cited official figures showing that during the first quarter of the year, Spain attracted 10.6 million holidaymakers.
More About: Visit

Interest in buying abroad 'is higher than ever'
2008-04-22 02:00:00
The number of Britons who are looking at buying property abroad is now at a record level, an expert has stated.According to broadcaster Amanda Lamb, more people than ever are interested in purchasing a residence overseas.Ms Lamb, presenter of Channel 4's A Place in the Sun, said that while many are doing it as a lifestyle choice, others are doing it out of financial necessity."First-time buyers who are finding it impossible to get on the housing ladder in the UK," she commented.Ms Lamb added that about 250,000 people are choosing to leave Britain every year in order to live in another country full-time.The comments came alongside research by A Place in the Sun Live, which found that the prospect of good weather is not the sole consideration for foreign property buyers.According to the study, many have also been "seduced" by the potential to earn healthy returns on their investment.This comes after a poll by A Place in the Sun magazine identified property in Spain and French propert...
More About: Buying , Interest , Higher

Euro entry attracts investors to Cyprus
2008-04-22 02:00:00
Cyprus has become more popular with foreign property buyers as a result of its recent currency changeover, analysts have stated.The Mediterranean island became a member of the single Euro pean currency on January 1st 2008.According to Home Move, this "historic event" has led to more people becoming aware of potential opportunities in the Cypriot market.Many were said to have been attracted because they believed euro membership would lead to various economic benefits, such as substantial growth in its housing marketHome Move commented: "Predictions that Cyprus would see strong growth in property prices this year are proving to be accurate."The website added that there is high demand from both Cypriot nationals and foreign migrants.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 represents a "convincing case" for the island's investment credentials.
More About: Cyprus , Investors , Entry

Tax reforms set to attract investors to Italy
2008-04-22 02:00:00
Forthcoming government reforms could trigger a period of renewed growth in Italy 's housing market, according to experts.Foreign Property Buyer said prime minister Silvio Berlusconi pledged to scrap the main tax on properties during this month's election campaign.The website believes that since the country also offers exemptions from capital gains tax, this latest reform could act as a further incentive to buy an Italian house.Commenting on its investment potential, it said: "Fees and taxes are a large part of any overseas property investment."The abolition of any of these will make a significant difference to property purchasing in the country."Foreign Property Buyer added that if Berlusconi does act upon his promise, this could push property prices up.Therefore, investors could possibly get considerable tax-free returns should they sell up further down the line.Italy's appeal to foreign property buyers was recently highlighted by NuWire Investor, which said demand for accommodat...
More About: Investors

Brazilian investment could be lucrative
2008-04-21 02:00:00
People who own property in Brazil have been reassured about the country's investment prospects. According to NuBricks.com, the South American nation is likely to experience economic growth of about 4.8 per cent this year. This is despite the ongoing financial problems on an international scale, which have raised concerns of a possible global recession. Commenting on the current state of the Brazilian market, NuBricks.com said the "party is still continuing". The website observed: "Brazil is very much an overseas property hotspot of untapped potential, a country which continues to register on the radar." NuBricks.com added that the government is supporting investment by funding infrastructure improvements in hotspots such as Natal. This comes after UK newspaper the Times stated that Latin American countries are well-placed to deal with the current problems in the global economy. According to the newspaper, Brazil is a very safe investment option because i...
More About: Investment

Retirees set to keep heading overseas
2008-04-21 02:00:00
More and more people from the UK are likely to spend their retirement in another country, a newspaper has stated. Referring to recent research by NatWest International, the Telegraph said nearly two million Britons will have retired abroad by 2025. This has prompted the publication to dismiss predictions that the popularity of settling overseas will soon start to decline. "Any idea that the exodus from Britain of those settling abroad might be waning appears wildly premature," it commented. However, the Telegraph called upon older people to remember important issues such as their health and the quality of medical care in their new home. The newspaper said that while many European countries offer "generally excellent" medical services, some places do not offer free healthcare provision for foreign expatriates. This comes after ShelterOffshore.com said it would be prudent for prospective expatriates to make sure they are familiar with how living abroad will a...
More About: Overseas , Heading

Britons dominate Cyprus tourism
2008-04-21 02:00:00
Official figures have revealed that Cyprus was a highly popular destination for British holidaymakers last month. According to data published by the Financial Mirror, more than 108,000 people visited the Mediterranean island in March. Statistics showed that more than half of these people hailed from the UK. Furthermore, the overall number of British visitors was 8.9 per cent higher than at the same point in 2007. This comes despite the recent fall in the value of the pound against the euro, which was adopted by Cyprus at the beginning of the year. However, the fact that Easter was unusually early this year was cited as one of the main reasons for the increase in visitor numbers. This comes after the Independent stated that Cyprus has not been negatively affected by the current financial crisis across the world. According to the newspaper, house price inflation is outpacing many other European countries, as values went up by 20 per cent last year.
More About: Tourism

Investors 'should be tough'
2008-04-18 02:00:00
Prospective investors should be tough when dealing with property sellers, according to property industry experts. Analysts at Amberlamb stated that the credit crunch has led to many developers becoming desperate to sell their houses as consumer confidence is falling. The organisation has suggested that people who are still considering an investment overseas should take advantage of this situation in order to negotiate a good deal. This, it continued, could be particularly beneficial in countries such as Bulgaria, which has seen a drop in demand in the wake of the current credit crisis. Amberlamb commented: "If you're tough on your vendor and force their hand in terms of selling low, you will still be able to profit from the property market in Bulgaria." The group added that even amid the ongoing financial problems across the world, not every property market has "doom and gloom" for investors. This comes soon after Foreign Property Buyer recommended that in...
More About: Investors , Tough

Bulgaria named the cheapest country in Europe
2008-04-18 02:00:00
Leisure travellers from the UK could find that their pound goes a long way in Bulgaria , according to experts. The Post Office carried out a study to compare relative prices across the world, as the pound has recently got much weaker against other currencies. In fact, it is now at an all-time low against the euro, which means it will cost Britons much more to spend time in places such as Italy and France. However, the Post Office found that other countries across the world offer more favourable exchange rates which allow a person's money to go further. And not all were long-haul destinations, as countries such as Bulgaria were flagged up as highly affordable locations. The eastern Europe an nation was named as the cheapest destination in the whole of Europe, just ahead of Turkey. This comes after similar research by Teletext Holidays which found the cost of food and drink in places such as Sofia is much less than in many other European cities.
More About: Country

Cyprus weathers economic storm
2008-04-18 02:00:00
Cyprus does not seem to have been negatively affected by the worldwide financial crisis, a newspaper has stated. According to the Independent, house prices in the Mediterranean island went up by 20 per cent last year. This is considerably more than in many other European countries and a sign that the credit crunch is not hitting its housing market to the same extent. The newspaper said this development represents a "convincing case" for the island's investment credentials. Commenting on its suitability for foreign property buyers, the Independent remarked: "It looks as though the island may buck the current trend for falling house prices." The publication added that Cyprus also offers a number of lifestyle attractions, such as quiet villages, thriving resorts and affordable properties. According to the Home Move website, property values in Cyprus are likely to go up by about eight per cent this year.
More About: Storm , Cyprus , Economic

Uruguay Comes To Europe
2008-04-18 02:00:00
Uruguay has started to gain extensive real estate interest from across the globe. At the SIMA exhibition in Madrid last week there was a substantial presence from both developers and local government.  A largely undiscovered region by most Europe an investors, Property in Uruguay has been a secret held closely under wraps by the Americans and Canadians for some time until now. With Brazil gaining popularity over the last few years, many people who have never looked at South America before due to fears over safety and the distance from Europe are now coming to realize that whilst the West is still reeling from the recent credit crunch, the South American markets are booming and a lot of peoples’ initial fears over security were unfounded. Areas such as the capital, Montevideo, have substantial levels of investment going into its infrastructure. It is also reported that the new airport is costing around $134 million dollars. This will help bring in even more tourists as well...
More About: Uruguay

Investors pointed towards cheap property in Morocco
2008-04-17 02:00:00
Overseas property investors could find possible bargains in Morocco , according to a British newspaper. The Telegraph highlighted the north African country as a possible option for foreign property buyers because it offers relatively low house prices. Property values were said to be much cheaper than those in other nations with a Mediterranean coastline. For example, it stated that a house in Spain could possibly cost three times as much as a similar property in Morocco. Prospective buyers were also told that the country is weathering the downturn in the global economy very well, as it is continuing to experience growth. The Telegraph remarked: "Moroccan property appears to be recession-proof as the housing market there booms." 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" for its rental market.
More About: Cheap , Investors

Holidaymakers look at exchange rates
2008-04-17 02:00:00
Exchange rate movements are becoming more of an issue to holidaymakers, industry analysts have revealed. According to currency specialist Travelex, leisure travellers are becoming "increasingly savvy" with regards to financial fluctuations and taking them into account when booking trips abroad. John Nicholas, director of the organisation, said that this has led to people travelling to places where they can get more for their money. This has become particularly apparent in recent weeks, as the pound has fallen to a record low against the euro, which means general expenses in eurozone countries will cost much more. Mr Nicholas commented: "People [are looking] outside the traditional eurozone holiday hotspots to make their money go further this summer." He highlighted eastern European countries such as Bulgaria as places which are benefiting from this trend. The region was recently recommended to leisure travellers by Helen Warburton of the Post Office, who to...
More About: Exchange , Rates

Buyers offered incentives in Spain
2008-04-17 02:00:00
Prospective buyers are being encouraged to purchase a new-build Spanish property by various "freebies", industry analysts have revealed. According to the Foreign Property Buyer website, some builders are offering incentives such as cars, mortgage perks and even cash in order to attract customers. This is because the Spanish housing market has been affected by the downturn in the global economy, a development which is directly impacting on their businesses. While the state of the market may appear to be "bad news" for investors, the website has suggested that investors take advantage of the situation. Foreign Property Buyer commented: "It is an excellent time to see how many freebies you can get thrown in with your build." The online portal added that if investors find out what incentives are being offered by companies, they can negotiate for similar perks with their developer. This comes after the Independent recommended that investors consider pu...
More About: Spain , Buyers , Incentives

Sales of Turkish property to foreigners halted
2008-04-17 02:00:00
Within the last 48 hours the Turkish government has declared a temporary ban on property sale to foreigners. This comes shortly after a freeze on sales to foreign companies. Turkish newspaper Hürriyet stated that a letter was sent to all land registry offices in Turkey declaring an end to all foreign property sales. Turkey has seen the purchase of some 63,000 properties by foreigners in recent times from numerous nationalities worldwide. This will only effect the purchase of property from here on, sales underway at present with ownership papers or currently owned are not said to be affected. The ruling is said to be reviewed later in mid June this year. The region of Istanbul has seen the periodical imposing of a ban like this many times in recent years, although purchases have been possible through Turkish owned companies in the area. If you would like to discuss the implications of this move by the Turkish government further with others that are affected, please visit our Tur...
More About: Property , Sales , Foreigners

Turkey praised by British expats
2008-04-16 02:00:00
A retired couple from the UK have highlighted the lifestyle benefits of living in another country. David and Rosemary Nigbur decided that they wished to spend their retirement overseas and considered moving to Greece, reports the Sun. However, the couple told the newspaper that they considered the country too expensive for their needs, as prices had "shot up" following its entry into the European Union. They eventually decided to look at other possible alternatives along the Mediterranean coastline and finally opted to set up home in Turkey . Commenting on the move, Mrs Nigbur said: "It was never going to be completely easy relocating to another country but we are very, very happy." She added that Turkey is a "stunning" place to live which offers affordable living costs. Earlier this week, Business Week stated that house price in Turkey are likely to go up by more than 12 per cent this year.
More About: British