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Cypriot tourism on "upward course"
2008-06-09 02:00:00
Owners of investment properties in Cyprus could find they enjoy better than expected rental income during the coming winter. The Association of Cyprus Travel Agents (Acta), Cyprus Tourism Organisation and the Ministry of Tourism have been working together to attract more visitors to the island, reports the Cyprus Mail. Akis Kelepeshis, president of Acta, told the trade group's annual general meeting that there were already signs that those efforts were paying off and that 2008 would be the start of a "firm upward course" for the Cypriot tourism industry. He added: "The efforts made this year for increasing numbers in the winter season 2008-09 appear to be bearing fruit." The news, which could mean that owners of rental property in Cyprus enjoy good levels of occupancy during usually quiet months, comes just days after an increase in the number Britons booking holidays to the Mediterranean island was reported. Travel website lastminute.com revealed that book...

Expert tips Brazilian city for investment success
2008-06-09 02:00:00
People considering buying investment properties in Brazil should look at the city of Joinville, an overseas housing expert has advised. The suggestion was made by Dan Johnson of The Move Channel, who explained that Joinville is set to benefit from a major publicly-funded investment programme. Authorities in the city have set aside $800 million (£405 million) for infrastructure projects and improvements to health and education facilities over the next five years. City leaders hope this will stimulate the economy and create employment opportunities, which Mr Johnson believes will create favourable conditions for property investors. "In a domestic market that is growing rapidly as a whole, this city is already faring well and this investment programme will help Joinville to continue attracting residents and businesses," he told Nubricks.com. Mr Johnson added that acting before the benefits of the public money start to be felt would help property investors to maxi...
More About: Investment , Tips , Success , Expert

Turkey benefits from 'low prices and accessibility'
2008-06-09 02:00:00
Those looking for an investment property in the sun may wish to consider houses or apartments in Turkey . The country offers apartments in holiday resorts from as little as £19,000 and with plenty of budget flights available, purchasing a property in Turkey may be a wise investment, according to the Sunday Mail. Turkey currently has extremely competitive property prices, particularly in relation to its Mediterranean rivals, such as holiday favourites Spain and Portugal. Stuart Malloy, who recently bought an apartment in Didim, said: "I'd been looking to buy abroad for years but the cost of property in the Mediterranean and the Canaries really put me off. In addition to the holiday essentials such as sun, sand and pools, Turkey has a wealth of alternative activities, including historical and cultural attractions. With government plans to invest 200 million lira (£81 million) to increase tourist numbers two-fold in the next 15 years, purchasing rental property n...
More About: Benefits , Accessibility , Prices

Turkish property prices 'could carry on rising'
2008-06-06 02:00:00
People thinking of buying property in Turkey could be making a good investment choice, it has been suggested. With the UK property market suffering a hangover from the credit crunch, some investors are looking overseas for opportunities to profit. Ian Jones of fund manager Cordea Savills believes one place worth investigating is Turkey, where a number of factors are combining to drive prices up, despite the economy starting to slow. "This is a country of some 70 million people with half of the population under 30 and with an average annual population growth of about one per cent," he told Reuters. Property prices have grown rapidly in some parts of Turkey in recent times and one newspaper recently reported that homes in the area surrounding the resort of Bodrum are prohibitively expensive for locals. However, the Turkish Daily News also pointed out that prices were still at a low enough level to attract interest from holiday home buyers and investors from overseas.
More About: Prices , Carry

Spain aims for year-round tourist industry
2008-06-06 02:00:00
Owners of investment property in Spain could soon find they have a healthier rental income in the winter months, if plans announced by industry minister Miguel Sebastian work. In a speech delivered on Thursday, Mr Sebastian outlined measures to combat the impact of the credit crunch and economic slowdown on Spain, reports Thomson Financial. The two key strategies he detailed were moves to encourage more people to buy new cars and efforts to increase tourist numbers. Tourism is already a vital sector of the Spanish economy, with thousands of visitors from across Europe heading to its beach resorts and the cultural centres of Madrid and Barcelona every year. However, Mr Sebastian insisted there is room for improvement, adding: "We need to make tourism less seasonal." His masterplan to do this involves running campaigns to persuade more retired people to holiday there in the winter - a move which could mean people with investment property in tourist resorts are able to c...
More About: Industry , Round , Year , Tourist

Expert confident about property in Brazil
2008-06-06 02:00:00
Investing in Brazil ian property could be one of the most successful ways of negotiating the current economic uncertainty, it has been suggested. UK property, the stock market and even traditional safe havens like gold have suffered since the beginning of credit crunch and many investors are searching for more profitable alternatives. Their best strategy could be to buy land and property in emerging economies, according to Jonathan Garner of Morgan Stanley. He told Reuters he has been recommending to his clients that they consider investing in growing markets such as Brazil for a number of reasons. "The credit crunch has very limited relevance to many emerging markets. Not only are the banks in good shape, you've also got households that are not overextended," Mr Garner explained. Many overseas investors already appear to have spotted the potential offered by the South American country's economy, as figures published by the Central Bank showed that foreign direct inv...
More About: Property , Expert

Morocco Sothebys International Realty introduces the golf villas and apartm
2008-06-06 02:00:00
Morocco Sotheby’s International Realty , the  brokerage company for Qatari Diar, the real estate investment and development leader, showcases the  most exclusive  luxury resort in Tangier, Morocco Al Houara Resort. After successful launch of the beach villas and apartments, Morocco Sotheby’s International Realty will be releasing 64 golf apartments at the beginning of June through their four offices in Doha-Qatar, Tangier-Morocco, Casablanca-Morocco and London-United Kingdom. Sotheby’s International Realty, owned by Qatar Real Estate Partners, is a joint venture partnership between real estate investment and Development Company, Qatari Diar, and leisure real estate consultant NorthCourse and is affiliated to the Sotheby’s International Realty® network.  This will offer its luxury real estate services for the first time in the GCC. The Sotheby’s International Realty network currently has more than 9,000 sales associates located in ...
More About: Golf , Morocco , Villas

Spain set to attract British holidaymakers
2008-06-05 02:00:00
Rental investors in Spain could benefit from high demand from British holidaymakers this summer. According to figures from ebookers.com, nearly two-thirds of holidaymakers from the UK are planning a beach holiday this year. The online travel agency has found that established European markets including Spain are among the most popular destinations for tourists. This is despite the weakness of the pound against the euro, as well as strong competition from long-haul destinations such as the USA and Thailand. However, the company has found that many tourists are booking their holidays fairly late. As a result, head of marketing Claire Howard Jones has issued the following warning. "Bargain hunters will often be disappointed," she said. "Smart travellers know the best prices in the travel industry are mostly available to early bookers." Meanwhile, Frances Tuke of the Association of British Travel Agents has highlighted Spain as a highly affordable place to vis...

Cape Verde 'is a property hotspot'
2008-06-05 02:00:00
Cape Verde is becoming more and more popular with second home buyers from overseas, analysts have stated. According to property experts NuBricks.com, the west African nation has become an "overseas property hotspot" in recent years. The website said this is partially due to efforts to boost tourism in the country, as this has created a variety of investment opportunities in different areas. However, it said Cape Verde's regulatory system has also helped make it attractive to foreign buyers. Chintan Mahida, a spokesperson for NuBricks.com, observed: "In simple terms, the laws of Cape Verde do not differentiate between foreign investors and local businesses, offering a level of security and rights." He added that this level of protection is missing in many other developing nations across the world. According to the Organisation of Economic Cooperation and Development, Cape Verde's economy grew by 6.6 per cent last year. Figures cited by MacauHub show that...
More About: Property , Cape , Hotspot

France set to attract British second home buyers
2008-06-05 02:00:00
France has been tipped to be a hotspot of activity for British property buyers next year by industry analysts. ShelterOffshore.com believes many budget airlines will be forced to hike up the cost of flying overseas next year in response to rising fuel prices. This means that consumers may find travelling to other countries very expensive, a development which could reduce the appeal of these places to second home buyers. However, the website added that financial problems such as the global credit crisis are not putting people investing in a foreign property. Therefore, it believes France could be a highly popular destination in 2009, as it can be easily reached by other modes of transport. ShelterOffshore.com said: "France is on our doorstep and it is a country we can fly to, drive to or even take a train to." This comes after Virgin Trains revealed that "more and more" people are choosing to use the railway as a means of getting to destinations they might p...
More About: France , Home Buyers , Home , Buyers

Dubai unaffected by credit crunch
2008-06-05 02:00:00
Overseas property investors could collect strong returns in Dubai , an expert has advised. According to Ahmed Jamal of Emerging Markets Property Advisors, the emirate is one of the best investment markets in the world. This was said to be because it has a very strong rental market, which means investors can enjoy high occupancy rates and healthy rental yields. Mr Jamal added that many other popular property hotspots have been negatively affected by the credit crunch. However, he stated that the problems in the worldwide economy have not extended as far as Dubai. "People are talking about a global property crisis but the terminology is incorrect," he commented. "There is a crisis in the US and parts of Europe but other places are doing well." This comes after Dubai Tourism and Commerce Marketing revealed that about seven million people booked accommodation in the region during 2007. According to the organisation, this number could possibly increase to ten ...
More About: Credit , Crunch

British tourists flock to Bulgaria
2008-06-04 02:00:00
Rental investors in Bulgaria are seeing a surge in demand for tourist accommodation this summer, it has emerged. Online travel agency Lastminute.com revealed that the number of June bookings for the country is 151 per cent up on 12 months earlier. This means that some owners of holiday accommodation in Bulgaria will see higher occupancy rates this year, as well as greater rental returns. According to Lastminute.com, the increase in the number of bookings is partly because consumers in the UK want to avoid Euro 2008, which kicks off in Austria and Switzerland this weekend. John Bevan, managing director of the firm, commented: "It would appear that it is too painful for fans to stay home and watch Euro 2008 without their team competing." This comes after the Times said that Bulgaria is a much more affordable holiday destination than places such as Italy, Portugal, France and Spain.  
More About: British , Tourists , Flock

Traditional European markets attract Britons
2008-06-04 02:00:00
New research has found that traditional tourist destinations in Europe are still the most popular options among Britons. Norwich Union has used its customer information to compile a profile of what it describes as the average British couple. A typical husband and wife in the UK were said to be called Mr and Mrs Smith, own a Ford Fiesta and live in a 60-year-old house. In addition, the profile showed that the average British couple takes their summer holiday in Spain every year. Simon Warsop, spokesperson for Norwich Union, commented: "Contrary to popular belief, it reveals that we are a lot more traditional than we think we are." Spain is also a hotspot for second home buyers from the UK who want a property in another country. According to A Place in the Sun, it is currently the most popular destination among property investors from the UK.  
More About: European , Markets , Traditional

Europeans head to Cape Verde
2008-06-03 02:00:00
Former Portuguese prime minister Mario Soares has highlighted the growing appeal of Cape Verde among holidaymakers. According to the ex-premier, the west African archipelago is becoming more and more popular with people from Europe. Speaking to Inter Press Service, he said this is because it offers attractions such as hot and sunny weather all year round, along with a rich culture. This, he stated, has helped Cape Verde to become an "enchanting" destination for people from all over Europe. Mr Soares commented: "The archipelago is turning into a prime tourist destination." He added that as well as its appealing climate, people can also enjoy high-quality accommodation and a friendly local population. According to the Organisation of Economic Cooperation and Development, Cape Verde's economy grew by 6.6 per cent last year. Figures cited by MacauHub show that it is expecting this rate of growth to increase to 7.6 per cent in 2008.  
More About: Head , Europeans

Expat speaks of move to Thailand
2008-06-03 02:00:00
A British expatriate has revealed his reasons for moving to Thailand and the impact this has had on his life. Jay Walker moved from Essex to Phuket in 2007 after a friend encouraged him to get a job in the region. Speaking to the Sun, he stated that despite spending most of his working life overseas, moving to south-east Asia was still a "huge culture shock". He said this is because his experiences had been confined to western locations such as Europe. Mr Walker added that he was surprised to see how modern Thailand is in terms of its amenities and facilities. He commented: "Stupidly I thought it was less developed and less advanced with regards to infrastructure." This comes after the Telegraph said Phuket is becoming increasingly popular with foreign property investors who are looking at the top-end of the market. This area was immortalised in 1974's The Man With the Golden Gun, which starred Roger Moore in the lead role.  
More About: Move , Expat

Expert Tax Advice From International Fiscal Services Ltd
2008-06-03 02:00:00
Financial expert Binne Vries from International Fiscal Services Ltd gives his personal opinion on the latest tax schemes: Tax Tip United Kingdom - real estate developments The Chancellor of the Exchequer Alistair Darling recently announced a u-turn on the 10p tax rate, and since then we’ve been following with interest what other rabbits may appear from his hat. Meanwhile, the so-called “IOM partnership scheme” has been closed down by the Budget 2008 (see BN66 “Double Taxation Treaty Abuse” for specific details) with retroactive effect to 1987. UK tax is avoided by the establishment of two interest in possession trusts which together form an Isle of Man partnership. The scheme is designed so as to ensure that the income realised by the partnership continues to belong to the UK resident, as beneficiary of the foreign trust. This structure was commonly used for undertaking UK real estate development projects. We have always been quite blunt when clients ha...
More About: Advice , Expert

Expert Tax Advice From International Fiscal Services Ltd
2008-06-03 02:00:00
Financial expert Binne Vries from International Fiscal Services Ltd gives his personal opinion on the latest tax schemes: Tax Tip United Kingdom - real estate developments The Chancellor of the Exchequer Alistair Darling recently announced a u-turn on the 10p tax rate, and since then we’ve been following with interest what other rabbits may appear from his hat. Meanwhile, the so-called “IOM partnership scheme” has been closed down by the Budget 2008 (see BN66 “Double Taxation Treaty Abuse” for specific details) with retroactive effect to 1987. UK tax is avoided by the establishment of two interest in possession trusts which together form an Isle of Man partnership. The scheme is designed so as to ensure that the income realised by the partnership continues to belong to the UK resident, as beneficiary of the foreign trust. This structure was commonly used for undertaking UK real estate development projects. We have always been quite blunt when clients ha...
More About: Advice , Expert

Strong euro drives Britons to Morocco
2008-06-02 02:00:00
British holidaymakers look set to shun traditional Euro pean destinations and head to Africa instead, analysts have predicted. According to the Association of Independent Tour Operators (AITO), countries such as Morocco are likely to attract a greater number of people from the UK this year. This is because the single European currency has risen to a record high against the British pound and is likely to remain strong during the next few months. Therefore, prices in countries such as Spain and Portugal are comparatively expensive to Britons, whereas Morocco has more favourable exchange rates and lower prices. AITO chairman Derek Moore commented: "There will be an increasing number opting for countries on the edge of the eurozone like Morocco." He added that this is a good location because it is not far from Europe, which means travel times are not significantly different. This comes after NuBricks.com said the tourism sector in Morocco is "on the up" and has...
More About: Strong

Cyprus property 'is a great investment'
2008-06-02 02:00:00
Two holiday home buyers from Scotland have outlined the advantages of owning a property in Cyprus . According to Ian and Cathy Rutherford, purchasing a house on the Mediterranean island has proved to be a "great investment". Speaking to the Sunday Mail, they said this is because they have been able to rent it out during those times that it would otherwise be empty. Furthermore, they stated that continuing increases in house prices in Cyprus means that the value of their new home is going up. . Mrs Rutherford commented: "A similar apartment sold recently for about £20,000 more than we bought ours for, so it's a great investment too." She added that as soon as they retire, they plan to spend far more time living in their Cypriot property. 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"...
More About: Property , Investment , Great

British tourists pointed towards Bulgaria
2008-05-30 02:00:00
British holidaymakers have been advised to consider travelling to Bulgaria by a national newspaper. According to the Times, the eastern European country offers a number of attractions which would appeal to the whole family. In addition, Bulgaria was said to be much more affordable than places such as Italy, Portugal, France and Spain. This is because the pound has slumped to a record low against the single European currency - falling by nearly a fifth in the last year. As a result, travelling to a country inside the eurozone may not offer the value for money Britons have enjoyed in the past. The Times commented: "It's been a bad year for the pound. "Last summer, a €20 meal would have set you back £14. Now it would be £16.50." By contrast, Bulgaria was said to offer bargain prices and comparable leisure facilities. This comes after the Association of British Travel Agents revealed that emerging economies and mid to long-haul destinations are ...
More About: British , Tourists

Tourism boosts Moroccan property market
2008-05-30 02:00:00
Efforts to boost tourism in Morocco are directly impacting on its housing market, property experts have stated. According to Amberlamb, the Moroccan government is aiming to attract ten million visitors a year by 2010. As part of this plan, it has invested in the creation of new resorts in desirable locations, which include leisure outlets, amenities and accommodation. The organisation said that this has helped to raise the international profile of Morocco, which in turn has led to interest from foreign property buyers. Therefore, the country is receiving an economic boost from both the tourist trade, overseas investment and a growing housing market. Amberlamb commented: "It is ensuring that interest is intense and it is already returning positives for real estate as a contributing sector to the overall economy." This comes after NuBricks.com said the tourism sector in Morocco is "on the up" and has witnessed some "impressive growth" in recent year...
More About: Tourism , Market , Property

Inland Spain attracts investors
2008-05-30 02:00:00
Overseas property buyers are increasingly shunning the Spanish coastline and moving inland, it has been revealed. The Spanish Property Owners Guild (Spog) stated that many coastal areas have become overdeveloped by mass tourism. However, it believes that foreign property buyers can still find an unspoiled environment if they move away from the sea. Paul Bradley, spokesperson for Spog, suggested that prospective investors look towards places such as La Vinuela, which is just 20 miles away from Malaga. This means that property buyers could live in a more peaceful and natural environment while still having easy access to the Costa del Sol. Mr Bradley commented: "Real Spain still exists - ten miles inland and it is still how it has always been." A recent survey of foreign property owners by A Place in the Sun magazine found that Spain was still the most popular destination among Britons.  
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Turkish resorts offer investment potential
2008-05-30 02:00:00
Overseas property buyers have been encouraged to consider potential investment opportunities in Turkey. According to Dominic Whiting, editor of Buying in Turkey, new flights to the popular holiday resort of Dalaman have recently been launched by easyJet. This means that the region is likely to see a surge in visitor numbers over the next few months, which in turn will push up demand for rental accommodation. As a result, owners of property in Dalaman could be well-placed to earn a profit from the rental yields. Speaking to Homes Worldwide, Mr Whiting said: "The start of low-cost flights into the Turkish resort will be a huge boost to the fledgling holiday lettings market." He added that choosing the right location for a property is very important, particularly if they plan to let it out to holidaymakers. This comes after John Bevan, managing director of Lastminute.com, told the Daily Mail that Turkey has displaced countries such as Spain and France in terms of the nu...
More About: Investment , Resorts , Offer

Spain 'offers escape from the UK'
2008-05-29 02:00:00
British people who are unhappy with life in the UK could find Spain a good alternative, it has been suggested. The Spanish Property Owners Guild (Spog) said some people in Britain believe that the country has gone "to the dogs" in recent years. As a result, many have chosen to pack their bags and set up home in other countries. Paul Bradley, spokesperson for Spog, said Spain could be the perfect place for people who share this point of view, as it offers a number of lifestyle benefits. He stated that the low crime rates and relative safety could make it particularly attractive to older people, as it may remind them of Britain in the past. Mr Bradley commented: "Spain is the quintessential example of how life used to be in the UK, but with nice weather." This comes after HiFX cited the strong pound, rising house prices and good job opportunities abroad as three of the main reasons for Britons to emigrate.  
More About: Offers , Escape

Foreign investment used to fund UK property
2008-05-29 02:00:00
A couple from the UK hope an overseas property investment could help them afford a house in Britain, according to a newspaper. The Metro highlighted the case of Paul and Samantha Emery, who have been priced out of the market in their home town of Watford. Speaking to the newspaper, they said they believe a foreign property investment could be the solution to their problem. The couple have purchased two properties in Bulgaria, as it is a much cheaper country with a rapidly-growing housing market. This means that the couple could potentially make a profit if they sell up after the houses have gone up in value. Ms Emery commented: "It has already increased in value, but we are holding onto it for five years so that we don't have to pay capital gains tax when we sell." She added that they have been able to afford the mortgage payments by letting the properties out and collecting the rental yields. According to the Association of International Property Professionals, Bu...
More About: Investment , Foreign Investment , Foreign , Fund

Strong euro influences holiday choices
2008-05-29 02:00:00
The value of the pound against the euro is directly affecting people's travel habits, it has been revealed. According to Directholidaybookings.co.uk, the strength of the single currency has put people off travelling to traditional Euro pean destinations. This has led to many people seeking alternative options beyond the continent, such as Egypt and Morocco. The two African nations were said to offer far more favourable exchange rates with the UK, which means holidaymakers could find they offer better value for money. Andrew Gibson, director of DirectHoliday bookings.co.uk, commented: "British tourists are finding that their money will go much further if they consider alternative locations." He added that the cost of visiting established hotspots such as Spain and France has risen "significantly" in the last few months. This comes after the Association of British Travel Agents revealed that emerging economies and mid to long-haul destinations are becoming mor...
More About: Strong , Choices

Australia popular with British migrants
2008-05-29 02:00:00
Britons who want to live abroad could find Australia a good place to live, according to property experts. ShelterOffshore.com stated that the country is currently very popular with migrants from the UK, as it offers both lifestyle and financial benefits. However, the website recommended that people research the market thoroughly before committing to a move. "It can take time to get through the emigration process and this time can be well spent researching the market in Australia," it commented. ShelterOffshore.com added that a third of Britons who moved abroad in 2006 moved to Australia and New Zealand. This, it stated, means that there are large expat communities in many parts of the country. The comments follow figures from HiFX which revealed a recent surge of interest in buying property in Australia. According to the firm, the country was the subject of ten per cent of the enquiries it received into moving abroad last month.  
More About: British , Popular

Emerging markets attract British buyers
2008-05-28 02:00:00
Property investors in the UK are increasingly looking to less-established foreign markets, according to a media report. The Metro stated that a growing number of people are snapping up houses in places such as Egypt, Brazil and the Cape Verde islands. This is because the markets are expanding at a faster rate than those in traditional investment hotspots such as Spain, France and the US. As a result, owners of property in these countries have been collecting strong returns from both rental yields and capital gains. The Metro added that investors are subsequently using the money to purchase a permanent residence in the UK, as they had previously been priced out of the market. "Despite the credit crunch, buying property in Britain is still too costly for many people," the newspaper commented. This comes after currency specialist FC Exchange said the housing market in the UK is in a state of "turmoil".  
More About: Markets , British , Buyers

Australia attracts British migrants
2008-05-28 02:00:00
Migrants from the UK are increasingly choosing to set up home in the southern hemisphere, according to a new study. Research by HiFX revealed that interest in buying property in traditional hotspots such as France and Spain has waned over the last few months. This was largely attributed to the less than favourable exchange rates with the UK, as the pound is currently at a record low against the euro. Instead, Britons are increasingly opting to set up home in places such as Australia , a country which has recently seen a surge in the amount of interest from Britons. Mark Bodega, director of HiFX, commented: "Thoughts of moving to a new life overseas continue to burn strongly within much of the UK population." According to the Real Estate Institute of Australia, Britons are the third-largest group of foreign property buyers in the country, reports Homes Overseas magazine.  
More About: British

UK expats branch out
2008-05-28 02:00:00
Expatriates from the UK are increasingly looking to move to less traditional locations, it has been revealed. According to FinancialAdvice.co.uk, countries in Europe are still very popular locations among Britons who choose to move overseas. However, the website said that more and more people are looking at alternative countries as well, including some long-haul destinations. FinancialAdvice.co.uk commented: "It seems that many may now be branching out to countries in South America." The online portal said some people are choosing to move because house prices in the UK are far more expensive than in many other parts of the world. However, the weakness of the pound against the euro means that European countries are also expensive, whereas South America offers better value for money. This comes after NuBricks.com revealed that Brazil is likely to experience economic growth of about 4.8 per cent this year.  
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