Press News Releases - European Property

Mallorca Property Market Report March 2010

Thu, 01 Jan 1970 00:00:00 +0100

I opened a Newsletter this morning from a "top end" Mallorca real estate agent confidently pronouncing that the Mallorca real estate market has been in recovery since mid 2009, which by my calculation is some 9 months ago. Before a snort too loudly lets give them, and everyone else talking the market up, the benefit of the doubt. In many respects I would concur that mid late 2009 did see an important change to the market, although rather than talk of "recovery" I would describe it as "the bottoming out of values" ie the correction in underlying values had probably reached the bottom of the cycle.

But what does that actually mean and what has the impact been? Firstly we need to look at the terminology ie I am referring to "values" not "asking prices". Sorry to bore regular readers but if you are you will know I have maintained for some time that there has been in a significant number of cases a decoupling of the fundamental relationship between asking prices and "real underlying property values" (in a normal market one might expect to find a difference of circa 10% but where this goes to 20% 30% or more the simple conclusion is that owners maintain unrealistic expectations). While an increasing proportion of properties are having their asking prices adjusted, a large number have not something that not only creates a two tier market appropriately priced properties and over priced properties, but also is undermining liquidity as in effect the supply side is being significantly restricted. On the positive side this is to some extent putting a floor under the values of those offered at market prices although I would hesitate to say the "floor" is that strong while the demand side remains so weak lack of mortgage finance, weak Sterling and simple cautiousness. Certainly it is not going to push values up!

Secondly we need to look at what is "real value" ie where should prices be? As a rule of thumb values have, in my opinion, fallen by between 25 40% or to put it another way fallen back from the peak in 2007 to levels of circa 2004 (dependent on how realistically they had been valued in the first place). Again to put it simply we need to take off all the excessive "froth" generated by the market during the preceding 3 or 4 years to the so called "top" of the market in 2007. Official statistics (see below) seem to suggest that the market still has to adjust further to get back to the levels of circa 2004 which is to some extent correct ie where we are now is that correctly priced properties are at or around the circa 2004 levels while others however remain over priced and will "appear" to fall further. On the other side however it is important to understand that the further you go back with official registered figures the more unrealistic they become because they are artificially low (it was common for properties to be registered at anywhere between 60% 80% of the real value ie 20% 40% below actual sales price) while today, if this is done, it is unusual for it to be more than 10% below. The result is that the earlier figures are artificially lower than the comparables today.

So if compare actual 2009 prices with 2004 levels, and find an appropriate relationship, something which is a reality in some cases, particularly in the new built property market (developers have generally been more aggressive in cutting their prices be it due to a new sense of realism or simple "desperation / need" liquidity, interest payments etc), then indeed we can call the bottom of the market in 2009.

But is calling the "bottom" of the market the same as saying that the market is in "recovery"? Without getting into semantics I personally feel that "recovery" requires a number of factors to come together few of which currently exist availability of mortgage finance; appropriate supply side pricing and thus wide range of available properties; demand side confidence ie not just bargain hunters and "vultures"; and the start of a very modest tendency to hardening of prices. But again what does this mean in practice, this time looking forward?

One of the most interesting debates will be when and where future capital growth will come from. Clearly this has a lot to do with the supply side but also the release of new development land and, importantly its price. On the mainland, or at least certain areas of the peninsula, there is a huge supply overhang that some argue will take until circa 2016 to clear, leaving very little hope for capital growth in the meantime. In Mallorca and the wider Balearics the supply side has been more constrained due to the relatively more controlled speculative development boom of the early years of this century. Furthermore being a small Island certain segments of the market have and will increasingly have a more restricted supply side eg front line villas or large rural fincas / country houses, simply because the availability of front line plots is limited and planning regulations on development in rural areas, especially in the Tramontana Mountains, have become increasingly restrictive.

That said looking at the market as a whole and the values of development land / plots in particular it is clear to see that while developers have reached, in many cases, their limits in bringing down the asking prices of existing stock they have eroded most if not all their margin in a rush for "liquidity", it is possible to see that in the future they will be able to create new stock with a reasonable built in margin at todays prices or potentially even less. Palma is perhaps the worst effected area with Ministry of Housing figures putting the price of development land in the Capital at the end of last year at 453�m2, the lowest since records began, and below the historic peak of 716� recorded in early 2008. Wider development land values do not appear to have suffered as much in the main, as I highlight above, because of a long term shortage of supply which will ultimately put a floor under the market for these sites. Growth in values are, however, unlikely to be forthcoming in the short medium term and particularly while wider economic conditions unemployment, lack of or very restrictive financing options etc are prevalent, and the over supply (even at the more restrained levels found in Mallorca) remains.

In conclusion expect:

1.Underlying values to bottom out at current levels
2.The evolution of asking prices to vary dependent upon whether they have been set realistically / adjusted sufficiently to account for the significant falls in property values.
3.Future growth in values to be non existent in the short term and very limited and restricted to underlying inflation in the medium term ie no real growth in the next couple of years. Modest growth over above general inflation levels in the economy to follow thereafter at levels of 1 3%
4.Special properties with "unique" qualities front line; very good sea views; restrictive planning conditions rural fincas; high quality developments etc to perform better / out perform the market in the medium / long term.
5.Land values to hold down prices in the medium term as developers take advantage of cheaper land to sell at these new lower levels for the medium term. Long term shortage of supply, save for those in urban areas and for "mid range" apartments, like Palma, Inca and Manacor, should see values rise

My advice:

1.If you are a lifestyle purchaser or investor with an income return bias start to look at the emerging buying opportunities BUT..
2."BUYER BEWARE" it is all about value and ensuring that you buy at an appropriate level and dont over pay on unrealistically priced properties.
3.Look at new build where good discounts are available (but beware of off plan unless your deposit(s) are backed with a bank guarantee)
4.Look at properties with "defensive" qualities, as set out in (4) above, for greater short term security
5.Look at land to hold as a long term investment / to build a home. Particularly rural plots, front line or with very good sea views etc

Contact David Novi for further information and advice.

See also Novi Property Mallorca (http://www.novipropertymallorca.com) and Mallorca Chartered Surveyors (http://www.mallorcacharteredsurveyors.com)

Some Statistics

While official statistics are notoriously unreliable (not least due to the historic tendency to "under declare" the real value of a purchase on the deeds and thus the official value registered at the Land Registry Registro de la Propiedad) figures from the Ministry of Housing still make interesting reading, and give us a crude benchmark against which to look at asking prices and property values.

Average Price of Housing in the Balearic Islands

Year New Build Second Hand

2005 2,020�m2 1,942�m2

2006 2,301�m2 2,200�m2

2007 2,468�m2 2,340�m2

2008 2,692�m2* 2,339�m2*

2009 2,329�m2 2,025�m2

Source Ministry of Housing

*Interesting that although the common consensus is that the market peaked in 2007 developers were able to register higher sales prices due in main from customers that had bought off plan and paid sizable deposits. The figures from the second hand market show at least the "acceptance that the market had peaked even if statics did not yet reflect that the market had / was about to fall

Average Price of Land in the Balearic Islands

Year Palma Balearic Islands

2004 677�m2 243�m2

2005 605�m2 295�m2

2006 640�m2 337�m2

2007 655�m2 352�m2

2008 716�m2 331�m2

2009 453�m2 316�m2

Source Ministry of Housing

For full report see the Mallorca Property Blog (http://mallorcapropertymarket.wordpress.com)

Mallorca Property Market Comment The pain in Spain falls mainly on the housing market!

Thu, 01 Jan 1970 00:00:00 +0100

Green shoots, economic activity increasing, deflation risks diminishing, stock markets rising, business and consumer confidence on the up etc etc. We all read the news papers and listen to the news but the big question for those of us in the real estate market, and in my case the Mallorca property market, is what does this mean for activity levels and property prices?

With unemployment levels some way off touching bottom, expect foreclosure levels to increase further, household disposable income to remain under severe strain and consumer confidence to take a knock again. When potential buyers see that the prospects of rising values are a long way off, that activity will also fall back again.

Result? Expect house sales activity and prices to remain depressed for a long time and until some stability can return to the market. This is going to be a slow and painful process.

Want a positive spin? Underlying values may well be near the bottom (+/ 10%) but remember what I always say about "asking prices" and "values", they are NOT the same thing! In Mallorca the decoupling in these two figures which should of course be intimately related, has created an inherent risk in the market where buyers must "beware". Find a property where the asking price and value are the same, or there and there abouts, and it may be a good time to buy. Purchase a property with an inflated price tag without first checking its underlying value, and you may well be regretting it for a very long time, all be it while sitting on the terrace with an appetising G and T!

Contact David Novi BA MPhil MRICS for further comment and opinion on the Mallorca Property Market

Property For Sale in Alcudia Top Villa for sale in Alcudia

Thu, 01 Jan 1970 00:00:00 +0100

We are pleased to be able to offer a beautiful modern designer villa for sale in the exclusive Alcanada area of Puerto Alcudia and only a stones throw from one of Mallorcas top golf courses.

Valued only 6 months ago (December 2008) at 970,000� we can now offer this Alcudia property at 790,00� a reduction of nearly 20%, fully reflecting movements in the market during this time and offering one of only a relatively few good value investmemt opportunities in the area.

This property, with its proximity to the golf course of Alcanada, the marina of Puerto Alcudia and the wonderful sandy beach of the Bay of Alcudia, offers excellent year round rental potential and thus very interesting initial yield for an investor.

For full details and photos please see "Designer Alcudia Villa for sale" at Novi Property Mallorca ref NP2191

For other Alcudia and Port of Alcudia property investment opportunities please see Properties International Mallorca

Property for sale in Soller Puerto Soller development plot

Thu, 01 Jan 1970 00:00:00 +0100

Regular readers will know I am not exactly a "bull" when it comes to the Mallorca property market, the problem of finding good value in a market where many asking prices defy logic, and where I think we will be going in the future. Despite my view that the light at the end of the tunnel is just a spek in the minds eye and never has the saying "buyer beware" been so apt, I do feel that it is possible to buy and even on occasions it could be a good time to buy!

In this regard a development plot situated in one of Mallorcas best addresses, Soller, enjoying sea views and access to high class amenities, is certainly worth a look. When looking at the key chriteria for analysing any investment opportunity the results are encouraging location; price (just reduced); planning permission in place reducing the lead in time (but chance to amend for those wishing to add their own "touch"); flexible options (opportunity to build a large detached villa or two semi detached houses); and good time to find competitive building quotes, I really like this one.

Details are as follows (taken from the Novi Property Mallorca web site)

"Wonderful opportunity to acquire a large development plot in the Port of Soller enjoying stunning sea and mountain views and offering the purchaser planning permission for a large detached villa or, for an investor, two semi detached houses.

Located in one of the best areas over looking the Port and Bay of Soller the plot is situated in a quiet residential area yet within a short distance of the sophisticated bars, restaurants and cafes of the Puerto Soller.

With planning permission granted, the long lead in time often needed for new build projects has been taken away, while for those wishing to adapt plans to their own style and requirements again the project is at a stage that this can easily be facilitated. Whether you are investor looking at the large villa option, or building the two smaller houses, or a private owner looking for a good value way to owning a luxury villa at a fraction of the cost of many finished properties on the market, this is a very interesting opportunity".

If you would like us to help you find a site or property please contact Mallorca Real Estate Search. For Valuation,and investment and development appraisal advice see Mallorca Chartered Surveyors

Property for sale in Ses Salines Mallorca Villas for sale in Mallorca

Thu, 01 Jan 1970 00:00:00 +0100

If you are looking for the quieter Mallorca, access to the best beaches including the famous Es Trenc, then this villa could be what you are looking for. It is an ideal full time home offering spacious accomodation in quiet open countryside yet within 30 minutes of Palma and the airport.

The full description is:

"Set on a large plot of 25,000 sqm, this recently built villa covers a living area of 350 sqm divided into two floors with the possibility of enlarging it 200 sqm more..

The property has been designed in Majorcan style with clean lines and panoramic windows, elements that let the visitor admire their excellent quality finishes. It has also been provided with technological systems designed for comfort, for instance installation for alternative energies, such as photovoltaic panels or wind power, a tank for rainwater harvesting with two separate wells for home and garden supply, drip irrigation system, central heating and hot water supply through oil boiler, as well as a large swimming pool.

On the upper floor the main suite includes the bedroom, two dressing areas, bathroom and a cosy area for reading and relaxing. The rest of the rooms are located on the ground floor and consist of three double bedrooms, three bathrooms, two lounges and a 30 sqm gourmet kitchen fully equipped with furniture and appliances.

Exuding a peaceful ambience that makes it perfect to be lived both inside and outside, the house offers a design that joins both areas through large panoramic windows offering views to the garden, the swimming pool and the horizon at the background.

The estate is perfectly connected by road with the whole island of Majorca"

See Novi Property Mallorca for full details (ref NP2281)

roperty For Sale in Es Capdella, Calvia Well priced villa in Es Capdella Mallorca

Thu, 01 Jan 1970 00:00:00 +0100

Novi Property Mallorca are pleased to offer some interesting semi detached villas in the tranquil and sought after village of Es Capdella. Reduced in price to a "negotiable" 750,000� we think there is some value to be had here for a buyer that can act quickly and negotiate some further discounts.

Details are as follows:

"Top quality semi detached villas for sale in Es Capdell�, Calvia enjoying open views over the village and countryside. The area and village offer a tranquil and genuine lifestyle but with easy access to all the sophisticated amenities of South West Mallorca includiing Portals Marina, Bendinat, Calvia Village, Santa Ponsa and its golf courses and, further distant, Andratx and Palma de Mallorca.
The accommodation comprises ground floor including a spacious and bright living dinning room, kitchen, guest toilet and one bedroom. At first floor level there is the master bedroom with en suite bathroom and two further bedrooms with shared bathroom.
Outside the property offers a good sized garden, open and covered terraces and a private swimming pool.
Additional features: reversible hot / cold air conditioning, double glazing, under floor heating in the bathrooms, fitted wardrobes."

For further details please see the main Novi Property Mallorca web site.

For valuation advice see Mallorca Chartered Surveyors

Mallorca Property Market Impact of interest & exchange rates Sept 09

Thu, 01 Jan 1970 00:00:00 +0100

The latest Interest and Exchange Rate Forecast from the RBS Bank makes mixed reading at best for those looking to invest in the Mallorca property market and that are either Sterling denominated and / or require loan finance.

Global interest rates seem set to stay at the current unprecedentedly low rates for some time so at least nominal repayments will be similarly low. In reality of course these interest rate levels simply relect the fact that the economic picture remains dire and that inflationary pressures are currently no where to be seen. With deflation a real concern in some economies, including Spain, "real" interest rates arent actually that low but lets stick to the "glass half full" view of life, at least for the moment!

On the exchange rate front, for UK buyers of Mallorca property, the heady days of the pound in your pocket being worth 1.5 euros seem a distant memory. Again, looking at things positively, at least parity between the two currencies seems to be in the past and the trend, all be it very slow, is of a gradual increase in the value of Sterling against the Single Currency. The RBS maintain , all be it caveated with a good dose of "but we cant be certain", that we should see Sterling back up to a rate of 1.3 by the end of next year.

Of course that still leaves the question of what buyers should do now, wait, use euro mortgages or plain "get out of the market"!? Regarding the latter and how we view the market we will be preparing a report later this month. Regarding "managing" the exchange rate situation the solutions really remain the same use euro mortgage finance to buy the property (ensuring there is flexibility to repay in the future when the exchange rate improves) and ensuring that the balance, probably 40%, is transfered to Mallorca via a professional Foregn Exchange Broker offering the best rates and "no commission" transfers.

Contact David Novi for further information.

Novi Property Mallorca A Value Adding Approach to Mallorca Property Acquisition

Thu, 01 Jan 1970 00:00:00 +0100

As part of an ongoing review of the Novi Property Mallorca business, and the activities of the associated Property Finding, Professional Services and Mortgage Broking business areas, Owner and Managing Partner David Novi has announced, via the Companys Twitter feed , the core benefits offered to clients using Novi Property to buy property in Mallorca and that will be central to the Companys new Business Plan for 2009 2010.

Explaining, David Novi added, "these are uniquely challenging times for businesses in most sectors of the economy, but perhaps especially those related to real estate. Spanish and Mallorca property is suffering particularly badly and while as an organisation we can largely only react to these market conditions what we can do, more positively, is examine how best to compete moving forwards, central to which is offering our clients what they really want when they are buying a property in Mallorca".

"What we did was ask what buyers really want and, from this, we derived the basis in which we will operate our two property agency businesses, Novi Property Mallorca and Properties International Mallorca (Specialists in the Pollensa and Alcudia property markets)". The central requirements were identified as:

�Access to a very wide selection of good quality properties meeting the profile of our main target market, international clients seeking mid to top range Mallorca properties as second homes or for a relocation to the Island.
�That the asking price, for the properties identified, is the lowest available (as many properties are offered via a large number of separate agencies, it is not uncommon to find the same property offered by different agents at different prices unless the vendors are particularly strict that they want "uniform pricing"). What a client wants is the peace of mind that they are starting from an "informed and transparent" picture when they start to negotiate.
�That the purchaser client understands the value of the underlying property (here we are talking about the "value" of the property not the price or asking price being sought by the vendor). In other words the prospective buyer wants to know that not only that the asking price is the best available on the market but also what the property is worth in order that they can assess what price they want to offer. In the current market there can be considerable differences between asking prices and underlying value, the result of which can be a purchaser over paying.
�Comfort that buyers are dealing with and being represented by an individual or organisation with Values aligned to their own; are honest and professional; knowledgeable; and are impartial (have a duty of care to one party only the buyer)
"From these "central requirements" we identified the "benefits" we can offer clients" added Novi. These can be summarised as:

�Access to a very wide selection of good quality properties Via our extensive network of major and niche estate agents, and private owners, in Mallorca we are able to access, for clients, the widest range of properties for sale on the Island obviating the need for our clients to contact with many different estate agents.
�The asking price is the lowest available Applying a thorough approach to market research we will always endeavour to identify the lowest price a target property is offered in the market.
�The real value of the underlying property As Chartered Surveyors and specialist Mallorca property valuers to lending and legal institutions in the UK, we are able to provide an informed opinion as to the real value of any particular property and thus at what level offers etc should be made. With very significant discrepancies between asking prices and real values this is a very important aspect if buyers are to not risk overpaying.
�The buyer is represented by an honest, professional, knowledgeable and impartial person / organisation As member of the RICS we have adopted the Values of our professional Institution thus giving clients an assurance that our approach will at all times be strictly professional and based on our core values of integrity, honesty and respect.
For further details as to how Novi Property Mallorca and Properties International can assist you with your Mallorca property acquisition requirements please contact David Novi BA MPhil MRICS

Property For Sale in Alaro, Mallorca Good Value Property in Alaro

Thu, 01 Jan 1970 00:00:00 +0100

Just occasionally(Yes we believe most properties are over valued!) we come across good value properties that offer value for money to buyers looking for a family home, holiday residence or investment property.

Below we highlight 3 such properties in Alaro, one of Mallorcas most sought after villages nestled in the foothills of the Tramontana Mountains.

Village house for sale in Alaro Charming village house in Alaro enjoying a tranquil location and deceptively spacious accommodation. See Novi Property Mallorca NP2194.

Apartment for sale in Alaro Modern spacious apartment with swimming pool See Novi Property Mallorca NP2193

Town House for sale in Alaro Beautifully restored Town House with lovely views and a tranquil location. See Novi Property Mallorca NP2166

To see other properties for sale in Alaro see our dedicated Alaro property page

For valuation advice see Mallorca Chartered Surveyors

Property for sale in Costa den Blanes / Portals Mallorca Urgent sale required!

Thu, 01 Jan 1970 00:00:00 +0100

We are instructed to seek the urgent sale of this delightful town house in the sought after are of Costa den Blanes, Calvia, Mallorca. Close to the beaches and top amenities of the exclusive Marina of Portals and Portals Nous village this property has the following characteristics:

"Town house in small community, situated within walking distance to Puerto Portals, local beaches and all amenities in the nearby village of Portals Nous. Built on 3 floors: The lower level has entrance hall, cloakroom, kitchen, living dining room with log burning stove, opens onto patio and decked garden surrounding 2.5m� plunge pool! Sun awning, Pretty plants and trees, bbq. 1st floor: 2 double bedrooms & 1 single bedroom, full bathroom with walk in shower. 2nd floor: Double bedroom, Utility room can be made into en suite bathroom & wardrobe. Utility terrace, sat dish, double glazing, a/c in bedrooms, under floor heating through out. Secure off road parking space. Low community costs."

This property must sell quickly so please contact us to arrange a viewing

Spanish & Mallorca Property Market over 1 million empty new houses!

Thu, 01 Jan 1970 00:00:00 +0100

According to a new report from the Instituto de Pr�ctica Empresarial (IPE), experts in the Spanish real estate sector there are nearly 1,050,000 unsold newly built homes on the market with concerns that this could rise to over 1,200,000 by 2012 if there isnt a turn around in the market soon.

The latter seems unlikely when one considers the unabated rise in Spanish unemployment levels and the important face that sustainable affordability ratios are a long way from sight. Although much hope is pinned on a return to some form of "normality" in the mortgage lending markets it is difficult to see a return to the lending practices of the boom years where 100 120% loans were common place. With LTV ratios likely to remain for the foreseeable future at the 60 90% mark (the latter for residents meeting only very special criteria) buyers are going to need very significant equity deposits to be able to buy.

Furthermore with taxes / buying costs so high (circa 10% of purchase price) there is a reluctance to sell where the automatic result is a "paper loss" of 10% on the transaction with little prospect of growth in underlying values to cancel this out. The result is an illiquid market.

While oversupply in the Mallorca market is by no means as problematical as those of Valencia and Andalucia, the two worst effected areas, the problem will still act as a drag on the market along with the fundamental problem of affordability perhaps the main problem undermining demand on the Island

Spanish & Mallorca Property Demand

Thu, 01 Jan 1970 00:00:00 +0100

A survey conducted by UK based property portal primelocation.com suggests that 70% of visitors to primelocation.com/international property show are actively looking to buy an overseas property, despite the current economic uncertainty (not that unsurprising as why would you go to a property show if you werent interested in buying!).Perhaps more interesting is that 28% said that they are unaffected by the current economic situation, while 22% who had put on hold their purchase plans were now back actively looking in the hope of finding a bargain. Another 10% said that they were just "looking" but did not intend to buy now.

The survey also looked at the countries the portals visitors are most interested in buying in France was number 1 with 25%, Spain second (16%) followed by Italy and Portugal with 11% each. France has always been the number one destination for Primelocation "customers" but interestingly Spain and Portugal have increased in popularity since 2008, possibly in response to reports of falling property prices.

Primelocation also identify that while the number of people looking to buy holiday homes overseas remains unchanged from the previous year, indicating that the "dream" of a second home in the sun remains alive despite the dire economic backdrop. Interestingly however, the number of people looking to move abroad permanently has fallen possibly, as suggested in the report, due to the fall in the value of sterling against the Euro, but in my mind much more due to the economic climate and the costs / risks involved in moving, finding work / giving up work back home etc.

The report also highlights an oversupply of rental properties in continental Europe with the result that less people are buying with a view to using the property as an investment or income generator. This is undoubtedly the case in Spain, particularly on the mainland coast where around 50% of of all empty properties are targeted at the second home market and where tourist numbers have dropped and / or are less able to pay the prices originally commanded by these properties.

Other interesting statistics are that anticipated spending levels are very similar to 2008, and that most respondents prefer to purchase a property that requires minimal work and where they can start to use and enjoy straight away.

The reality is that these findings are not that unusual. Peoples aspirations do not change just because the economic climate does (however severe!). They may be more cautious and they may in reality postpone a buying decision but they will not stop looking unless their own personal circumstances have changed radically (unemployment etc). Many people buy for lifestyle reasons (these buyers predominate in Mallorca) and the "dream" stays alive even if more caution is required. For investors a falling market also opens up opportunities so again that they should remain interested is no surprise. What is clear is that in the "investor" group we have lost the novice, first time investor who was simply buying as part of the band waggon, and this is reflected in the slight fall in the investor numbers.

Serious investors remain and indeed may find this one of the very best times to buy if they undertake thorough market research and legal due diligence. Never has it been more important to get valuation advice and to work along side advisors that can identify not only suitable property location, amenities, accommodation characteristics etc, but as importantly, that is correctly priced (see my comments on Asking Prices v Underling Values). As I have started to say, over the last month or so, we are at last seeing a larger number (a minority but growing number) of properties in Mallorca where asking prices are fairly much in line with real value. It is not difficult to find a client a property that meets their general requirements but it is much harder to find them one that also offers genuine good value and is not going to be purchased at a level that could result in a significant loss of capital / equity the moment the deed is signed.

For Property Finders in Mallorca / Mallorca Property Finding Services that include professional valuation advice please see Mallorca Chartered Surveyors

For Property for sale in Mallorca see Novi Property Mallorca and for Property For Sale in Alcudia and Pollensa see Properties International Mallorca

Ideal Marine Apartments 2 bed iH156

Thu, 01 Jan 1970 00:00:00 +0100

This brand new complex Ideal Marine �is situated in a quiet location between the ancient Temple of Apollo and the sandy beaches of Altinkum, so enjoys the best of both worlds.These spacious apartments are surrounded by landscaped gardens and most have either a sea view or pool view or both. Ideal Marine Apartments will comprise of 105 large 2 bedroom apartments and 2 bedroom penthouse duplexes. Partially surrounded by green belt, this complex is situated just 2 � Kilometers from the beach and 1 � kilometres from the small town of Didim where you will find local restaurants, shops and a colourful local market. If you are looking for an investment opportunity you will find it here. Ideal Marine Apartments are excellent value for money and have 24 hour all year round security. There is also a FREE BUS SERVICE provided for your convenience running 3 times per day to the heart of the resort and back.

Ideal Marine will be a gated community surrounded by walls and lighting. � It will have 24 hour reception and security, 365 days a year. � All natural marble internal stairs, patios and paved ways. � Beautifully landscaped gardens and trees. � The buildings and all materials used will be to T.S.E. equivalent of N.H.B.C. using reinforced concrete for the foundations to satisfy local building regulations relating to earthquake provisions. � Central satellite system in the entertainment area. � Cleaning, laundry and ironing services. � Car rentals, boat trips, excursions, money exchange, property maintenance service all available on site. � 3 outdoor swimming pools for adults and children. � Caf� bar with full restaurant facilities. � Play area. � Large sunbathing terraces including sun loungers.

Apartment Specification to include: � 10 Year builders guarantee � Porcelain floor tiles (lounge, kitchen, bedrooms, bathrooms and balconies. � Natural ceramic work tops � Extremely spacious balconies and sun terraces. � Built in safety boxes for each apartment. � Special energy saving keys for rental purposes � Excellent quality UPVC double glazed windows and doors. � Stainless steel main safety doors with twin, high standard safety locks. � Electric boilers included in the apartments for continuous hot water. � T.V. +Turkish Telecom phone lines installed. � Fitted bathrooms, shower cubicles or baths, hand basins including mirrors, towel rails etc. � Fully fitted kitchens including hob and extractor units. � Wrought iron curtain rails all included. � A well in the complex provides free water to all owners.

The interiors have American panel style doors, UPVC windows with mosquito nets fitted. The lounges have fitted air conditioning units, plaster finish to the walls and ornate coving.The kitchen is open plan with fitted units. There is a hot water boiler fitted in the bathroom and a shower cubicle. Each apartment has its own mail box, a security door, aluminium/steel railings on the stairs and balcony.

The developer is offering packaged viewing trips on this complex.

Call now you make your reservation!

Financial Details

2 bed �42,000

2 bed duplex �55,000 (displayed)

Property for sale in Mayenne, France

Thu, 01 Jan 1970 00:00:00 +0100

In spite of the gloomy outlook for Sterling, there are some great bargains to be had in France as vendors realise that they have to reduce asking prices if they are serious about selling their properties. In the Mayenne for example, prices have dropped considerably over the past several months, with some excellent properties now much more affordable to UK buyers.

The Mayenne is a largely agricultural area; a great place for relaxing, with peaceful green pastures and woodlands, and plenty of byways for cycling and country walks. There is a wide range of sporting and leisure facilities; lakes and rivers for fishing and boating, and the beach is only about an hours drive away. The varied countryside is enriched by a multitude of ancient buildings and their remains, such as the castles of Mayenne, Ste Suzanne and Laval.

Goutez � la Mayenne Come and try the Mayenne, say the members of the association of restaurants, hotels, caf�s, bakeries, charcuteries, cheese makers, calvados distillers, cider makers etc, who aim to provide good local food and drink, much of it based on the apple.

Many British people love the climate in this area not too hot in the summer; not too cold in the winter and seek to retire here, or buy a holiday home. House prices here are much lower generally than further south and prices start from as little as 50000 euros for a habitable village property requiring modernisation, while 410000 will buy a superb restored 3 bedroomed farmhouse with an indoor and outdoor swimming pool and 2 up and running, income earning gites. 100000 euros will buy you a country property to modernise; 140000 euros will buy a restored 3 bedroomed house with a small house to restore.

The area is easily accessible from the UK even for a weekend the western Channel ports of St Malo and Caen, and the airport at Rennes all being only about an hours drive. For those who like to shop or go sightseeing in Paris the TGV from Laval will get you to Montparnasse, in the centre of Paris in an hour and a half.

This elegant, secluded, 18th century moated chateau is on the market for only 675000 Euros. It has a chapel dating from 1583, a guardians house, and stands in 2 hectares of mature parkland. Approached through the park and over the moat into the courtyard, the property has 13 bedrooms, 10 with ensuite facilities, wonderful period features marble fireplaces, granite floors, wood panelling etc and lovely views over the moat and planted gardens to the parkland beyond. There are outbuildings including a garage and bakery, and cellars below the house. It was modernised several years ago and now offers a fantastic opportunity for updating to create spacious, lofty interiors. Priced at only 675000 Euros including agents fees, notaires fees and government taxes, this property is a steal! Agency ref: GTF11245

Spanish & Mallorca Property update Interest & Exchange Rates

Thu, 01 Jan 1970 00:00:00 +0100

The international financial back drop for the Spanish and Mallorca property markets remained largely unchanged over the last month although the expected long term trends for exchange and interest rates appear to have been established despite ongoing uncertainty across the globe.

Interest rates in the US and UK seem to be close to their bottom (not least because they are close to zero!) and expectations are that they will remain at these levels for some considerable time with any increases not anticipated until 2011. The emphasis in the US and UK will stay with quantitative easing measures to improve cash flow in the credit markets.

In the Euro Zone on the other hand interest rates remain relatively high at 1.25% and while the ECB talks of announcing measures to ease private sector credit, the reality is that these are much harder to introduce in a "multi state" Europe and where no procedures exist to indemnify the Central Bank against losses resulting from asset purchases. At least in part this should mean that the ECB will have to continue to reduce interest rates, despite their reticence to do so, in contrast to central banks elsewhere. The RBS only anticipate one further quarter point drop although at Novi Property we feel that the structural weaknesses in the Euro Zone, coupled with the more restrictive position of the ECB regarding quantitative easing methods, could mean one further quarter point cut may be needed.

On the exchange rate front, and particularly the relationship between Sterling and the Euro, the trend of a more stable Sterling, and a move to longer term weakening of the Euro, has continued. Much of the weakness of the UK economy, and on going downside risks, seem to have been factored in to the current Sterling rate, while that does not seem to be the case in Europe where the expectations are that the single currency will continue it's decline against the dollar and start to suffer against Sterling (the Euro lost 2% agaist Sterling last month).

As we have maintained for sometime this backdrop for prospective purchasers of Mallorca property is reasonably favourable although the big question for Sterling denominated buyers is how to time any acquisition to take advantage of the anticipated strengthening of Sterling / weakening of the Euro. While buyers may wish to look at delayed completions and multi currency mortgage finance, UK national vendors of Mallorca and Spanish property face a very different problem how to achieve a sale as quickly as possible and in a very weak market, if they are looking to repatriate sales proceeds back to the UK and take advantage of Sterling's current weakness against the Euro.

Where a buyer is Sterling denominated and vendor a UK national seeking to repatriate funds it is vital that the dynamic of the negotiations includes a currency / exchange rate element, if a fair and equitable deal is to be found that can satisfy both parties and facilitate a deal. By way of example:

A property valued at 500,000� would "cost" a Sterling denominated buyer 454,000 pounds at today's exchange rate of 1.10 Euros / Pounds. Assuming the purchase were delayed 9 12 months this "cost" may well have fallen to 400,000 pounds if the exchange rate has moved to 1.25 Euros / Pounds, as is forecast, ie 54,000 pounds / 12% less. Of course the opposite has happened to the hypothetical UK national vendor of the same property. Rather than receiving the 454,000 pounds he / she will only have 400,000 if the sale is delayed. It could thus be argued that if both parties want a deal then some middle ground should be found where perhaps the buyer agrees to pay now but pay a little less and the vendor accepts less in exchange for an early completion.

Equally in such a weak "buyers" market it could also be argued that with "buyers" so few on the ground a vendor might do better accepting a lower offer now, rather than holding out for something higher in the future, not only because of the uncertainty of whether another buyer will be found but also because if and when they do come forwards the exchange rate will have moved against the vendor. In our example the vendor might well be advised to accept an "offer" today of 440,000� which when exchange and repatriated at an exchange rate of 1.1 Euros / Sterling will give him / her 400,000 pounds, rather than hold out for 500,000� in the future which will not only, in all probability, be worth no more than the 400,000 pounds they would get now, but also has the very significant element of uncertainty given that the buyer may well not be there at all in the future ("bird in the hand"!!)

The "win / win" option is for the vendor to sell now at the prevailing high Euro / Sterling exchange rate but the buyer to delay having to exchange his / her Sterling to Euros which can be done, at least in part, via a multi currency mortgage (ie the mortgage is taken out in Sterling but later converted to Euros when the exchange rate is more favourable. Obviously there is still a need to pay a deposit in Euros, likely to be 40% in the current market with prevailing Loan to Value Ratios, so the buyer will still want a discount but only on 40% of the purchase price not 100%. In our case the purchaser may want to reduce the Sterling equivalent of the 40% deposit on the 500,000� purchase price from 200,000� (ie 181,000 pounds at today's exchange rate of 1.1 to 160,000 pounds based on an exchange rate of 1.25 that they may have got delaying the purchase for 9 12 months). The overall purchase price would thus be agreed at 21,000� less (ie 479,000�) rather than 60,000� less (ie 440,000�) in the example above. The buyer is left in the same position as before while the vendor is 39,000� better off. (Please contact David Novi BA MPhil MRICS if a multi currency mortgage might be of interest)

Continuing the "mortgage" theme, although these are not easy times for obtaining credit, if you do have a stable income profile, some excellent deals are now available for prospective purchasers with banks seeking to "entice" new good quality clients to help balance their lending portfolios against the ever increasing number of existing bad debts on these books, resultant in part due to their own imprudent lending practices. Again contact us for further details.

Resources:

The Mallorca Mortgage Business (http://www.mortgagesinmallorca.com)

Novi Property Mallorca (http://www.novipropertymallorca.com)

Properties International Mallorca (http://www.propertiesinternationalmallorca.com)

Distressed Property Sales in Mallorca Mallorca Investment Property

Thu, 01 Jan 1970 00:00:00 +0100

Due to the economic climate we are accessing for clients an increasing number of distressed Mallorca property opportunities. These forced sale opportunities offer investors the possibility of excellent long term returns or for lifestyle purchasers the chance to buy luxury Mallorca real estate at very low prices.

While we maintain that the Mallorca property market and the wider national and international economic backdrop remain "complicated" we feel that some buying opportunities are emerging particularly where current owner have over leveraged, have cash flow difficulties and are coming under pressure from the banks.

Please contact us to discuss your requirements and to receive details of some excellent investment property in Mallorca including a spectacular 5* boutique hotel enjoying some of the best views in Mallorca; a luxury designer villa in Pollensa, a house with sea views in Costa de los Pinos, a luxury finca in South West Mallorca close to Andratx and a wonderful front line house near Porto Cristo

Mallorca Luxury Property A review of the Market

Thu, 01 Jan 1970 00:00:00 +0100

Mallorca has increasingly become one of Europe's top residential locations boasting an increasing number of rich and famous residents and visitors. With increasing levels of investment in one of the many high quality sea front villas, exclusive rural fincas or port side penthouses, this segment of the market enjoyed continued growth well after the rest of the market had slowed as cash rich buyers sought a home not only for their families but also their money!

But what is the situation now, the prospects and what properties are available?

Firstly and from a general perspective cash rich buyers are likely to dominate this segment of the market for the near future as is the case in other locations, such as London and Paris, particularly where good rental income can be expected providing buyers with not only an ongoing yield but, if purchased at the right price, good long term capital growth prospects. The key is "quality" and "location" ie top quality specification with an excellent location sea front or in unique locations such as Deia and Valldemossa or Old Town Palma. Supply is very limited and thus, it is our opinion, that long term growth prospects are very good.

Throughout the Island we can find truely spectacular properties such as the Cielo de Bonaire hill top mansion enjoying some of the best views in the Balearics; the La Fortalaza private peninsula with historic buildings luxuriously restored, over 85,000m2 of grounds and hundreds of metres of private coastline; Son Coll near Arta in North East Mallorca a luxury finca with over 285,000m2 of land, private Spa and international quality tennis court befitting the current owner of the property; a magnificent rural retreat near Alaro, dating from the 17th century and meticulously restored; Las Brisas in Puerto Andratx one of the top 2 or 3 addresses on the Island, along with Formentor and Son Vida boasting 15 exclusive villas; Sa Torre in nearby Sol de Mallorca, a Mediaeval fortified tower with direct sea access; or Portals Views one of Mallorca's top penthouses enjoying top quality interior design and views to match!

That Mallorca has top quality properties, in truly stunning environments, is not in doubt nor is the fact that the Mallorca "brand" remains very strong and attractive to international buyers, but that is not to say however that these properties are immune from the world economic backdrop and that appropriate "pricing" is not also an integral part of the due diligence process. In the past top prices were demanded and paid while now they are demanded but less often paid.

While valuing such "unique" properties is difficult in any market, thorough market research and professional advice is more important than ever with the "odd few million euros" quite often dropping off asking prices when negotiations get under way and the seriousness of a purchaser seen! Obviously each individual case needs to be understood in it's own right so "getting behind" the sale, who the owner is, why they are selling etc is critical to seeing where prices can be pushed and how a deal can be structured. This is certainly a case where buyers should be looking at their professional team, who is advising them and ensuring they are independent of the owners and sitting firmly in the "buyers corner" before any serious search gets underway. Legal and property advisors Solicitors and Chartered Surveyors for example, should be appointed at the outset that can look at the ownership position; the land registry rights; finance and payment options; the valuation of any property being considered and it's structural condition, all critical if an optimum price is to be paid. With so many millions at play a few thousand invested in a good set of advisors certainly pays dividends.

For further advice in exclusive property investment options in Mallorca and the Ballearic Islands, market conditions and valuation advice please contact David Novi BA MPhil MRICS at info@mallorcacharteredsurveyors.com or see the Mallorca Chartered Surveyors web site

Property For Sale in Andratx A Market Review

Thu, 01 Jan 1970 00:00:00 +0100

Andratx has always been regarded as one of Mallorca's "property hotspots" and a favourite destination for the rich and famous. During the boom years the Port of Andratx became a hive of construction activity as every conceivable peice of the rocky coastline was snapped up to build ever higher priced villas and apartments. While in most cases the build quality was high, corruption scandals emerged and black clouds were cast over the market even before the economic downturn threw everything into reverse. So what is the legacy for the Andratx property market and what are the prospects during the downturn and for when growth returns?

First and foremost despite the almost totally uncontrolled development activity since the turn of the century and, at the very least, "suspect quality" of the general environment created by this boom, Andratx and particularly the Puerto Andratx coast has maintained its allure for property buyers seeking top quality villas with spectacular sea views. The downside is that vast areas have failing infrastructure (roads, water and foul drainage in particular), and the general environment has suffered much to the consternation of local and international environmental groups including Green Peace.

The result is that virtually all new development has now been banned until the infrastructure has been introduced and fully adopted by the Town Hall. Furthermore a new and updated Development Plan is being introduced in conjunction with the Consell de Mallorca (Mallorca Council). The positive "spin" to this story of failing management of construction activity is that this now appears to be in the past and a programme of improvements is underway that should see the main problems addressed within 3 or 4 years.

Of course we need to add to these woes the "insult"of the economic downturn and the impact this is having on the owners of Andratx real estate assets, in terms of values and prices. For many Andratx remains a solid long term bet as an "investment location" within Mallorca and only recently was identified by the Financial Times (in an article of the top 10 worldwide real estate locations Mallorca came 5th) as one of the best areas along with Old Town Palma, Deia and Soller and the exclusive urbanisation of Formentor in North Mallorca. The feeling is that the key attraction of the area high quality properties with sea views and good quality amenities in the Port and Old Town, will ensure that the shine will return to the market as and when the wider market and economy recovers and the infrastructure improvements are completed.

For the moment however values are under pressure and the area contains some classic examples of grossly overpriced properties and divergence between asking prices and underlying value. With owners clearly aware that all buyers will seek to negotiate discounts there appears a philosophy that the best way to "manage" this threat is by either leaving asking prices unchanged, so there can be a wide range of movement when it comes to negotiations with purchasers or, extraordinarily, setting asking prices artificially high so that it appears that buyers are achieving good discounts, and a "bargain", when huge discounts are eventually agreed.

That said some major sales have been achieved since the start of the new year demonstrating that if real value can be demonstrated buyers will part with their money in an area viewed as a "safe long term bet". The key is in the assessment of value and the characteristics of the individual property quality and location are paramount. So along with "location, location, location" comes "market research, market research, market research"!

Like in all areas buying opportunities are emerging but these need to be carefully examined and often only reveal themselves at the time when serious negotiations get underway and an "agreed price" emerges.

At Novi Propert Mallorca and specifically our dedicated property finding arm, Mallorca Real Estate Search, we pride ourselves in not only accessing the best properties but, so importantly in this market, helping clients assess value and "worth" (ie what any individual investment is worth to the buyer, taking into account their requirements, risk profile and investment time horizon) and thus establishing an appropriate purchase price.

For further information please contact David Novi BA MPhil MRICS and see Mallorca Real Estate Search (http://www.mallorcarealestatesearch.com) for a dedicated and maket informed approach to buying property in Mallorca

Mallorca & Spanish Property Market Comment

Thu, 01 Jan 1970 00:00:00 +0100

See an article written by specialist Spanish property market author and journalist Joanna Styles on the Novi Property Mallorca main site (http://www.novipropertymallorca.com).

As the article makes clear the bare statistics of the market and the current and short term economic fundamentals make gloomy reading. That said with prices falling (or should we say values see our article "Mallorca Property Values vs Asking Prices") opportunities are arising with the key all about "quality" property and location.

At the national level Mallorca is regarded as a "premium brand" location, while on top of that within the Island there are some true gems Deia, Valldemossa, Soller, Formentor and Palma Old Town, which while not immune from the outside world do offer investors a relativley safe haven for their money and an interesting portfolio diversification option. Furthermore beyond investment considerations are the much more subjective but no less important "lifestyle" factors we should never lose site of we are here to "live and enjoy" and while financial fundamentals are critical (as Chartered Surveyors, valuers and investment appraisal specialists we are grounded in these aspects of the decision making process), so is life, and the "here and now"!

If you are considering buying a property in Mallorca and want the peace of mind of having along side you a senior property professional that can not only identify the best opportunities but can give you an independent and impartial view and opinion on every aspect of the investment process, please contact David Novi at info@mallorcarealestatesearch.com. See also our dedicated Mallorca Property Search site www.propertyfindersinmallorca.com.

Should you wish to reproduce any aspects of this article you should contact the author, Joanna Styles, at info@joannastyles.com

Axe The Agent BBC1 MyPropertyForSale.co.uk

Thu, 01 Jan 1970 00:00:00 +0100

Top private house sales website MyPropertyForSale.co.uk has reported a 40% increase in advertising since the start of this new programme showing sellers how to list their property themselves.

Trevor Gillham, owner of the website said this really shows the way forward, sellers do not need the local estate agent anymore, more and more searches are carried out online.

Contact Trevor on: 0044 2393 132947

Best Mallorca Re Mortgage Deal Nil Cost Mortgage Transfer in Mallorca

Thu, 01 Jan 1970 00:00:00 +0100

The Mallorca Mortgage Business is offering a real crisis breaking re mortgage deal delivering immediate reductions in monthly repayments, a very low interest rate throughout the term of the loan and all at no cost to the client.

Just when we thought it was all doom and gloom a re mortgage product has come to the market offering Mallorca residents and non residents the opportunity to substantially reduce monthly repayments without the usual costs associated with transferring a loan from one lender to another.

This really is a no catch deal (normally difficult to find!) and offers residents a mortgage rate of euribor + 0.35% and non residents euribor + 0.5 0.7% (dependent on the income profile of the client, loan amount and LTV). These rates apply throughout the term of the loan and are not limited "introductory offer" rates as is often the case.

On top of that the bank will cover all Notary, Gestoria and Land Registry costs and incredibly will accept an official valuation the owner may have from the original purchase or mortgage of up to 5 years old (ie if you have an official valuation of your property that is under 5 years old the bank will not require to you to pay for a new one, a saving of circa 400�)

The only costs not covered are any cancellation fees on your existing mortgage although these can always be added to the new loan amount to help you pay (eg on a 300,000� loan with 0.5% cancellation fee of 1,500� a new loan of 301,500� will be granted. Generally there is a small 0.25% arrangement fee which is easily covered, within 2 or 3 months, with the savings in monthly repayments.

Options include a fixed rate for the life of the loan, a fixed rate for the first 5 years or a fully variable rate that is reviewed annually.

In terms of paperwork key is proof that your current mortgage is fully up to date and that the last 6 monthly payments have been paid on time. Other documentation required is your last tax return, last 3 wage slips, bank statements showing the income etc.

If you would like further information and no obligation quote to see how much you could save please contact David Novi BA MPhil MRICS at The Mallorca Mortgage Business (www.mortgagesinmallorca.com) and info@mortgagesinmallorca.com

Mallorca Property Values vs Asking Prices

Thu, 01 Jan 1970 00:00:00 +0100

Never has there been such a disparity between property prices and values in Mallorca and, associated with this, such disparity in the asking prices of individual yet similar properties.

While we prepare our latest update on the Mallorca property market, and our forecast of where values will be going in the months ahead, we felt it important to highlight this general disparity in prices and values and the importance of market research and independent valuation advice.

Unfortunately good quality statistical evidence of the Spanish property market is difficult to obtain, but it is clear to see the anomaly between various official statistics that suggest that values have fallen by only 3% during the year to the third quarter of 2008, when compared with figures from the US and UK, two other nations that suffered from recognised "property price bubbles", that show annual falls of 20%. To put it another way it is very difficult to see how the official statistics can reflect the reality of what is happening in the Spanish economy (the Madrid stock exchange has fallen to levels last seen in 1983!) and that values are falling rapidly even if asking prices are not!

David Novi comments, "my view is that in Mallorca properties for sale seem to fall into 3 quite distinct groupings the first where asking prices have remained unchanged, and have even in some cases increased, and where owners seem reluctant to reduce their expectations even where serious buyers show interest. These properties are to all intents and purposes unsaleable.

A second tier of properties where asking prices also remain largely unchanged but where owners are at least prepared to recognise the economic realities of today's market and where significant discounts can be negotiated by buyers able to demonstrate their willingness and ability to purchase; and a third tier where asking prices and values are more in line, with owners (in most cases either developers or hard pressed private individuals) reducing prices to attract buyers".

The effect of this 3 tier market is firstly disguise the reality of falling values; secondly create a disparity between different property asking prices (realistic and unrealistic); and lastly to decouple in many instances the fundamental relationship between prices (asking) and values.

The only solution for buyers is to undertake a three stage analysis the first is market research; the second independent valuation; and the third an assessment of "worth" ie what any particular property is worth to the buyer. In order for a transaction to take place we need to see a convergence between the asking price / expectations of the owner; underlying value (generally assessed by an independent Valuer / Chartered Surveyor etc); and the "worth" that the buyer has put on the property (worth will include various aspects, many subjective, including importantly the perceived risk of the purchase in the eyes of the buyer).

In the current market that is not at all easy but neither is it impossible! For more information about the Mallorca property market and how to identify buying opportunities please contact David Novi BA MPhil MRICS at info@novipropertymallorca.com (www.novipropertymallorca.com) or for a bespoke property finding service at www.propertyfindersinmallorca.com

Mallorca Mortgages The Euribor Good News Story!

Thu, 01 Jan 1970 00:00:00 +0100

In line with our earlier reports, the Euribor, main reference rate for Mallorca and Spanish mortgages, fell to 2.1% last month from 2.62% in January. This fall puts the Euribor at it's lowest level since June 2005, and almost 50% lower than year ago, when it stood at 4.349%.

In these times when most news is full of gloom and doom this at least means that struggling household will see substantial decreases in their repayments when their mortgages come up for review (in most cases annually).

The key to how much repayments fall will depend on the small print of any mortgage contracts as some banks try to improve their risk exposure levels by not passing on all these falls to their clients. Although remortgages can be expensive now may be the time to look at options, especially where your bank is not passing on the full benefit of the recent falls in the Euribor. At least one bank is offering to cover all costs of clients moving their mortgage. For further information please see www.mortgagesinmallorca.com

Mortgages in Mallorca Bank Repossessions

Thu, 01 Jan 1970 00:00:00 +0100

A recent article in the Spanish daily El Mundo highlighted the increasing lengths Spanish mortgage lenders are going to avoid repossessing properties and being left holding a portfolio of assets of diminishing value.

Options offered by banks include repayment holidays, refinancing deals at 125% loan to value ratios (LTV) and even converting mortgages into rental contracts. On top of this is the array of statistics regarding the risk exposure faced by banks in Spain with their enormous retail lending portfolios which help explain the reluctance of Spanish banks to lend save for the very best of clients. Nearly 1 million households are said to be having difficulty paying the mortgage, and 500,000 of them are already in arrears on their payments.
Home repossessions rose by 600% last year. Furthermore one of Spain's biggest banks, the Banco Sabadell (owner of Solbank on the Costas) has 30,000 clients that have missed at least one mortgage repayment.

If one considers the massive increase in Spanish unemployment it is easy to see that this could well be just the start of the problem of bad debts and repossessions for the banks. With plummeting property values and the spectre of negative equity making an appearance for the first time for a generation of Spanish households, banks will want to continue to find new ways to support clients and avoid being left with the holding costs associated with an increasing portfolio of repossessed properties.

For further information on Mallorca Mortgages please see www.mortgagesinmallorca.com

WHY INVEST IN AUSTRIA

Thu, 01 Jan 1970 00:00:00 +0100

CHEAP SKI PROPERTIES IN AUSTRIA
The Sunday Times February 15, 2009 Liz Rowlinson

"Cheaper than France and Switzerland, the Austrian Alps are also relaxing some of the restrictions on foreign buyers. The hills really are alive!

The Salzburgerland, in the middle of the country, has been the biggest hit with British buyers because of its accessibility and affordability. Most of its resorts are within an hours drive of Salzburg airport served by flights from most of Britain and it also has Austrias largest ski area, the Sportwelt Amad�.
* Located in the Hohe Tauern national park, which has 30 peaks above 3,000 metres, Zell am See has long been a favourite school trip destination. Unlike Obertauern, a high altitude resort that becomes a ghost town after the spring thaw, it is a classic example of the dual season Austrian ski resort that is lively all year round. Summer tourists, who outnumber winter ones in many Austrian resorts, can choose from a host of water sports or biking down the mountain and, of course, you can ski on the Kitzsteinhorn glacier even in August.

Wherever you buy in Austria, the process is straightforward, with the deeds of sale signed by both parties or power of attorney at a notarys office. Buying costs are about 6% and local mortgages are relatively easy to obtain, although they typically carry a 3% setup fee. Investors should note that Austrians are keen to deter a buy and sell culture that will overheat prices for locals, so capital gains tax of 50% is payable on any profits if you sell your property within 10 years."

Retirement in Austria?
Austria is also being considered not just a favourite tourist destination but one of the best places to retire. Its natural beauty is enticing and convinces its tourists to settle here for good. If you wish to find a beauty spot in which to settle down, permanently or semi permanently, then Austria is one of the better bets as the Austrians are seen as one of the most compatible European nations. One must also note that Austria has one of the best cuisines with good afordable restaurants, were in the rest of Europa one would pay twice as much. Zell am See/Kaprun and the surrounding areas are one of the most attractive regions in Austria to retire to, as we offer a glacier for easy skiing, a natural swimming lake with crystal clear water, and wonderful easy biking trails as various walking and hiking trails. Should one be an avid golfer then we have a 27 hole golf course that is soon to be extended, and for all those that are wanting to relax and regenerate in a spa world, a new one is being built in Kaprun and will be completed in 2010.

Agreement between Austria and the UK
There is a reciprocal agreement between Austria and the UK under which pension contributions made to the Austrian state pension system can be taken into account for your UK pension if/when you return to the UK. Similarly, if you are a British national working in Austria and plan on retiring here, the contributions you paid into the UK system can be considered towards your Austrian pension.

For specific information relating to your personal circumstances, please contact the following organisations:
* The International Pension Centre (IPC) at the UK Pension Service. http://www.thepensionservice.gov.uk/contactus/contact pod form.asp
* The Main Association of Austrian Social Security Institutions (Hauptverband der Sozialversicherungstr�ger)

Property For Sale In Soller Diving For Opportunities!

Thu, 01 Jan 1970 00:00:00 +0100

Soller Yacht Club have applied to the central government help to establish a marine reserve in one of Mallorca's most emblematic areas.

Soller town and Port sit within the Tramuntana natural park and area of outstanding beauty and the yacht club members see the idea of a marine reserve as a logical extension of the Park into the coastal area.

The promoters of the initiative believe that the marine reserve will not only provide very significant environmental benefits but also for the Soller community as a whole, assisting the expansion of nautical and environmental tourism in the area, including the ever growing diving tourism market. The areas rich marine fauna, flora and sea life could be turned into an important attraction to international divers.

Diving is seen as growth area in the tourism sector of the economy due to its growing popularity world wide and environmentally friendly characteristics.

Soller, already one of Mallorca's most exclusive and beautiful attractions for visitors and top end property buyers, believes it can make its mark on the global diving resort map.

Soller is not the only area trying to expand their diving tourism market with Calvia looking to sink a decommissioned Spanish navy frigate to act as an artificial reef and also a diving feature,although at present it appears that central government will block this particular plan.

For further information on the Soller property market and opportunities to purchase or develop property in the area please contact David Novi BA MPhil MRICS on info@novipropertymallorca.com

Mallorca Property Prices Continue Downward Trend

Thu, 01 Jan 1970 00:00:00 +0100

The decline in value of Mallorca property steepened again in December 2008 reaching a year on year figure of 9% compared with 8.4% in November, 5.4 in October and 4.4% in September, according to the latest monthly report from Tinsa, one of Spain's leading property valuers.

This is the 7th successive month that prices have declined in the Balearics according to Tinsa. Interestingly the same report identifies much heavier "losses" on the mainland Mediterranean coast, a fall of 14.3% in December, a decline that has been on going since February ie 11 months.

Novi Property Mallorca Comment:

What can we read into these figures and how do they compare with what appears to be happening on the ground?

Firstly it is important to note that the traditional valuation approach in Spain is to use, as evidence, the values of comparable properties that are being offered "on the market" not actual sales transactions. While this is a simple product of the lack of reliable information on real sale prices* it is a real issue that needs to be considered by Buyers and their representatives (*Note. most are distorted by the tax evasion practice of registered sale prices excluding a cash element paid "under the table" by purchasers to the vendor, something that has the real problem of disguising what is really happening in the market).

Owners and estate agents rarely act in line with the real market, holding out for higher prices long after a market has turned (especially when it turns down). The likelihood is that if "asking prices" are falling, real values fell sometime before. In the case of Mallorca we believe the market turned, at the very latest, in late summer of 2007 (some top end properties may have been a little more resilient) and any subsequent increases in asking prices were the consequence of owners and estate agents failing to come to grips with the simple fact that Spanish and Mallorca property prices can actually fall! Until then if a property did not sell owners and Agents simply increased it's price every few months, or at least at the end of the year, to reflect "the increase in values of property" during the preceding period ie they were indexed linked like a State employees salary!!!

Extending this argument, it is thus likely that owners and estate agents are still not reflecting the realities of the market, ie have not fully adjusted down their price expectations, and thus "real nominal price falls" are much higher. "If you would want me to pull a figure out of the air", says Novi Property Mallorca's David Novi "I would double it and say values, generally in the Mallorca market, have already fallen between 15% and 20%, and since the market turned in mid late 2007"

In relation to the levels of price falls in the different areas of Spain, and in particular comparing the decline of 14% on the Spanish Mainland coast with the 9% in the Balearic Islands (ie is it reasonable to concur that values are falling more on the Mainland than in Mallorca), it is likely that here the statistics don't lie and rather reflect the market fundamentals of the two regions. The mainland market was, as we have highlighted on many occasions, dominated by a much greater levels of speculative low mid level price residential development driven by an equally speculative demand from investors. In Mallorca, while the construction boom was not exactly "controlled", it was on a much more reduced scale and the demand side was driven by real underlying fundamentals population and household number growth and second home purchasers motivated by lifestyle reasons rather than financial.

These fundamentals are likely to help the Mallorca market withstand the current crisis better than other areas with "top to bottom" falls of around 30%, in the market generally, rather than an anticipated 40 50% in some of the worst affected areas of the mainland.

For buyers the key question is when to come into the market. David Novi believes 2009 could be a good time even if prices generally are still weakening.

"Clients often ask for my advice on where they can find the best deals, hoping we will produce a list of properties with bargain level prices, many of which are distressed sales from repossessions etc. In reality while there are one or two examples of such properties, the real opportunities are hidden behind the still artificially high asking prices of many (but not all) properties on the market. What we see is that the real bargains are only discovered once offers are made and detailed negotiations undertaken. Suddenly a property that looked at best "reasonably priced" has become good value, as we have been able to negotiate a major price reduction for the purchaser. The bottom line is don't expect to see asking prices reflect underlying value, at least from a general point of view but there are always exceptions!

Perhaps we are biased (!!), but as Chartered Surveyors and valuers, and above all agents for Buyers rather than Estate Agents acting as brokers between owners and purchasers, we believe we are able to offer clients not only the market and professional expertise, but also the independence and impartiality to help buyers identify and buy at the best possible price.

"In a rising market you could always make a mistake and over pay without getting your fingers burnt" concludes David, "the market keeps rising and any error is soon eroded and the buyer is left sitting on a profit (all be it a paper one!). When a market is falling, and even more relevantly in one where the buying costs are quite high (ie 10%), an overpayment of say 10 15% will leave the buyer with a "deficit of 20 25% (ie after adding in the costs of purchase) that will need to be recovered via future market growth, if a subsequent sale isn't going to result in a loss. Since future growth levels, at least in the medium term, are likely to be much more modest say 3 5% per annum and even those won't probably start until 2012, it is easy to see how long someone would have to wait before the "error" is corrected. While pure investment motivations are rarely the driving force behind our clients purchases, they do want to limit the downside risks, something we believe we can assist them with through our market and valuation expertise"

Mallorca Property Market & The Falling Euribor

Thu, 01 Jan 1970 00:00:00 +0100

Both Mallorca property owners and potential buyers will have both sought at least some comfort in the recent dramatic falls in the Euribor (interest rate most commonly used to calculate mortgage payments in Spain) but what impact will these falls have on both these groups and will they stimulate a recovery in the Mallorca property market?

Firstly, those most likely to gain are existing property owners. Most Mallorca mortgages are on annual reviews such that any mortgage reviewed from December 2008 onwards should see repayments reduce significantly as a direct result of the falling Euribor.

The situation for new buyers of Mallorca property will be less clear unless they take over an existing loan, something which is quite common in Spain. The main reason why new buyers will not benefit to the same extent is because lenders have raised the risk premiums they charge in anticipation of higher default rates, and thus overall interest charges, while less than they would have been 12 months ago, will not fall as dramatically as the fall in the Euribor.

Where a buyer "subrogates", ie takes over the loan from the current owner or builder, they could well get a better deal than taking a new loan as the risk premium is likely to be lower than what a bank will offer in the current climate. In addition there are much lower costs involved in loan "subrogation", compared with new loans, another benefit of looking carefully at this option.

In relation to what impact these changes will have on the overall state of the Mallorca property market, and downward trend, don't expect miracles. In the short term at least the wider economic backdrop is far more significant and will remain the driving force behind market movements. On the positive side falling interest payments could spare some property owners from the increasing risks of default and reduce the number of new "distressed" sales. This in turn will provide at least some underlying support to the market.

Deia Property in Foreign Hands! Property For Sale in Deia

Thu, 01 Jan 1970 00:00:00 +0100

Deia property in Mallorca appears to be falling ever more into the hands of non Spanish residents, according to the latest statistics from National Institute of Statistics.

Over 41% of residents registered in the beautiful mountain village of Deia, one of Mallorca's most exclusive addresses, are non Spanish residents, while the figure for Mallorca and the Balearic Islands as a whole stands at a still lofty 21%, the highest by far in Spain.

Deia, along with Valldemossa, Fornalutx and increasingly Soller are seen by overseas Mallorca property buyers as the perfect antidote to hectic city life, offering perhaps the most stunning scenery in Mallorca, tranquil countryside and villages and a highly sophisticated and exclusive range of hotels, restaurants and quaint retail facilities.

While no one can deny the quite awful state of the general Mallorca property market and the economic backdrop for property buyers, Deia is a perfect example of why Mallorca has always been dominated by lifestyle purchasers, rather than the property investors that swamped the Spanish Mediterranean coastline and why, when some initial confidence returns, Mallorca and highly sought after destinations such as Deia, will be well placed to find support and thus a bottom to this market before others.

Also of interest is the fact that despite the downturn Mallorca saw it's non resident population grow by over 17% helping the overall population for the Balearics to grow by 42,000. While only time will tell whether this trend will continue in 2009, as the crisis deepens, it is evidence of another key economic variable that helps support the view that the Mallorca property market has some structural characteristics that offer defensive qualities and thus should ensure the very worst effects of the downturn are felt elsewhere in Spain rather than on the Island. Location, location, location!

Mallorca Property Exchange Rates

Thu, 01 Jan 1970 00:00:00 +0100

Sterling denominated purchasers of Mallorca property had at least some post Christmas cheer as the pound climbed by 7% against the Euro as the Bank of England slowed the pace of interest rate cuts to 0.5% and markets priced in a sizable cut in Euro Zone rates this week.

Last weeks gains followed a record near 23 percent fall against the euro last year, which brought Sterling close to parity with the European currency.

While it is too early to say whether this trend will be continued in the short term, many analysts feel further strengthening of Sterling will follow during 2009 early 2010 which could see the Pound back up to the 1.30 level against the Euro by mid 2010.

Foreign Investors in Turkey Latest

Thu, 01 Jan 1970 00:00:00 +0100

LORI MCLEOD

Globe and Mail Update

December 18, 2008 at 5:00 AM EST

The Canada Pension Plan Investment Board (CPPIB) is investing $431 million in a property fund that plans to develop 21 shopping malls in Turkey.

The $117.4 billion Canadian pension plan is the first investor in the fund, which was established by Europe's largest retail developer, Multi Corp., to raise equity to help build the centres.

When the malls are completed, the fund is expected to have a value of $7.4 billion, according to Multi.

The strength of the developer, the size and quality of the assets, and good long term prospects for the retail sector in Turkey attracted the CPPIB's investment, said Graeme Eadie, senior vice president of real estate investments.

"I would say Turkey is a little like Mexico, in that it's the upper tier of the emerging markets. It's very close to a developed market. It's not there, but it's getting there, and very different than some Asian countries where things are just starting," Mr. Eadie said in an interview.

The CPPIB has been selectively interested in emerging markets, including Turkey, for a few years, he added.

In February, 2007, for example, the CPPIB and the Ontario Teachers' Pension Plan each committed just under $130 million to a private equity fund focused on finding investment opportunities in Turkey.

In tough economic times around the world, it's hard to say that any real estate markets will be good in the near term, Mr. Eadie said.

However, Turkey's prospects are attractive due to its strong middle class and current dearth of shopping malls, he said.

Cheap property in Altinkum, Turkey

Thu, 01 Jan 1970 00:00:00 +0100

In my personal opinion, property in Altinkum, Turkey is�the not best buy in this country if you have a big wallet & an endless supply of cash. I promote property in Altinkum, so why do I reveal my honest thoughts about it? Simply because although there are many more beautiful areas to choose from, depending on your preferences, but these do come at a premium, and let's face it, in these days of the 'credit crunch', who wants to take out a mortgage or spend all their savings? Altinkum property is affordable, where else in Turkey could you get an apartment for �18,000 or a 4 bed detached villa for under �100,000? Perfect for holidays and good rental opportunities, buying a property in Altinkum is not beyond the finances of many and will provide a great holiday home to visit at any time of year.

Situated between Izmir and Bodrum airports, Altinkum is easily accessible by air, and ferry boat. This is an area that was favoured by the Turkish 'city dwellers' living in Izmir, Ankara or Istanbul for holiday homes which later became permanent residences for some.

Altinkum property is predominantly apartments and duplex's around the beach areas and town, however 10 minutes back from the main tourist area there are some fantastic villas which can be bought at a third of the price of anything similar in Europe, and half the price of other resorts in Turkey. Because property in Altinkum is cheap, this does not mean a loss of quality either, many of the properties I have visited in the area offer excellent quality builds and high quality fixtures and fittings.

Didim is a peninsula surrounding Mugla on the east coast the beautiful bay of Akbuk which offers some great property with stunning views, to the west the Aegean sea and Lake Bafa and the Menderes River on the north coast. Altinkum itself means 'Golden Sands', which indeed it does have in the form of three beaches, main beach, 2nd and 3rd beaches, each providing gorgeous calm blue waters, excellent water sports facilities or boat trips in a traditional wooden Gulet to some of the natural coves and bays.

This is a resort perfect for families with children with its calm sandy beaches and aquapark, those looking for a lively nightlife, or for taking advantage of a fantastic variety of bars and restaurants serving all types of international cuisine. Along the promenade or around Dolphin Square, bars and discos offer an assortment of entertainment from bingo to belly dancing, karaoke to nightclubs.

The area is also famous for it's ancient runs such as the Temple of Apollo at Didyama and the vast Roman ruins at Ephesus.

Many Brits have bought property in Altinkum for both holiday and permanent homes and the Turkish and foreigners live happily side by side. So popular is it with the British that they have their own English newspaper 'Altinkum Voices'.

For those who are interested in relocating to and would prefer to be amongst the Turkish rather than the British, a word of advice living amongst the locals is not always all that its cracked up to be, I have lived this way in both Spain and Turkey and being in a predominantly British area definitely has its benefits.

Altinkum Turkey really does have a lot to offer great beaches, cheap property, and lets face it, if so many foreigners have decided to make their permanent homes there, it can't be all bad!

See a selection of cheap property in Altinkum, Turkey >>

Mallorca Property Interest / Exchange Rate Strategies

Thu, 01 Jan 1970 00:00:00 +0100

With general economic data releases and Spanish and Mallorca property market sentiment all making depressing reading we continue our monthly "better news" feature on interest rate movements and the outlook for Spanish and Mallorca mortgage holders.

Following the unprecedented rate cuts in the Euro Zone and UK last month which took base rates to 3.25% and 3% respectively further cuts came as expected this week that took rates to 2.5% and 2%, with further cuts on the horizon. While no one should hide from the simple fact that the reason for these aggressive and unprecedented cuts are due to the awful economic picture and prospects for the foreseeable future it is at least some relief for existing property owners in the UK and Spain and a helping hand for those looking to take the plunge and purchase a new property.

Importantly for purchasers of Spanish and Mallorca property, these rate cuts, along with the international governmental rescue / support packages for the financial sector have helped push the main reference rate for Spanish and Mallorca mortgages, the Euribor, down to 3.77% when only a few weeks ago it stood at over 5.5%. For a mortgage of 200.000� over 25 years that makes a difference of 200� per month or 2,400� per annum.

Coupled with this good news is however the ongoing problem for UK buyers of Mallorca property, Sterling's weakness against the Euro. In a little over a year the pound has depreciated by nearly 25%, a major negative factor for a UK buyer purchasing in the Euro Zone. By example a purchaser requiring 400,000� would have had to transfer only 260,000 GBP last year while now would have to find 340,000 GBP, 80,000 more!

Although most economists feel that Sterling will no longer depreciate further and will slowly regain ground against the European currency it may well not be until 2011 that we see at least half of the ground recovered.

So what does this all mean for Mallorca property buyers and particularly those wishing to take advantage of the small but growing number of investment opportunities arising in this market? Further more what can Sterling denominated purchasers do to mitigate against the strength of the Euro?

Although cash buyers are those with the greatest bargaining strength in this market, with fast reducing interest rates the time may well be right to use bank mortgage finance to assist with a purchase and this is particularly the case for UK buyers who want and need to minimise the amount of Sterling to be transferred and converted for any acquisition. Although banks are being very strict, loans of 70% LTV / purchase price are still being granted for borrowers with secure income.

When taking any loan ensure that partial repayments or early cancellation of the mortgage is possible without penalties in order that the loan can be reduced should interest rates start to rise and / or Sterling strengthen allowing you to transfer and convert funds from the UK

For UK buyers with cash deposits in the UK a second way of acquiring without suffering with the penal Sterling / Euro exchange rate is to take out a Euro loan against the strength of the Sterling deposit. Although options vary it should be possible to get an 80 90% loan in Euros of the Sterling deposit. The interest on the monies deposited can be used to at least part pay the interest on the Euro loan and as soon as the exchange rate improves sufficiently the Sterling deposit can be transferred and used to repay the Euro loan ie You are in charge of deciding when you wish to do the exchange not the bank or the simple circumstances of when you are buying the property.

Always use a specialist currency transfer and exchange broker in order to get the best rates and avoid the very high commissions charged by normal high street banks.

In summary a possible strategy for a UK buyer, with a good credit record and secure earnings, wishing to take advantage of the weak market to invest, would be to take out a Euro mortgage in Mallorca of circa 70% of the purchase price (taking advantage of the lowering interest rates) and look at a separate Euro loan, against a secure Sterling deposit, for some or all of the remaining 30% deposit. While it is unlikely that a purchase will be possible without any funds requiring transfer from the UK, a significant proportion of the purchase price can be obtained using Euro loans.

For further information on buying opportunities, the appraisal of different investment options and financing of the same, please contact David Novi BA MPhil MRICS on info@novipropertymallorca.com or http://www.novipropertymallorca.com

Mallorca Property Transactions Fall

Thu, 01 Jan 1970 00:00:00 +0100

Mallorca property transaction levels fell by 37% during the 3rd trimester of 2008 when compared with the same period in 2007. While new Mallorca property sales fell by only 20%, completions on second hand homes plunged by 53%,according to the latest statistics from The Colegio de Registradores de la Propiedad.

The difference in sales levels between new build Mallorca property and older houses is probably down to the fact that hard pressed developers are reacting more actively to the current market conditions by cutting prices while private home owners are being much more reluctant to do so.

David Novi owner of Novi Property Mallorca, residential real estate consultants and Chartered Surveyors added "we have maintained for sometime that we are now entering a period where the Mallorca property market is going to operate on two main levels properties that are fairly valued and those where owners are asking unrealistic and unsubstantiated prices". While many of the realistically valued properties will have seen their asking prices reduced substantially others, because of their unique characteristics may not.

David Novi explains, "the best valued properties are not always those where price has been reduced the most. It is very important that each property is examined separately. The price of any particular house may have been reduced because of the personal circumstances of the owner (need to sell to relocate or due to personal financial circumstances) or because there is a huge glut of almost identical properties and little or no demand. Assuming the characteristics of the first are better, it is likely that it will also prove a better long term investment than the unit with a problem of supply competition, that may take many years to rectify, even if the latter has seen it's price reduced the most. Equally a very unique front line property may have seen it's asking price reduced much less but due to it's unique characteristics may well also prove an excellent long term buy"

In a falling market, market research and appraisal of individual opportunities are essential if you are not going to get your fingers burnt!

Contact David to discuss your investment requirements and to look at where the best opportunities may lie info@novipropertymallorca.com or http://www.novipropertymallorca.com

Spanish and Mallorca Property Prices to Fall

Thu, 01 Jan 1970 00:00:00 +0100

Mallorca and Spanish property prices are set to fall for at least two years if one takes into account the growing stockpile of unsold new build properties and poor demand due resulting from lack of available finance. Estimates for the number of unsold completed new properties vary between 600,000 and 900,000 and although it appears that the supply tap is now under much greater control new properties coming to the market in 2008 will be around 325,000, with a further 300,000 in 2009, compared to around 750,000 in 2007, while the over hang in supply remains price weakness will be the order of the day.

This situation is likely to put further pressure on the sector with more bankruptcies expected in the months ahead. As developers desperately seek to cover interest payments on unsold properties it is likely that an increasing number will offer properties for rent, or rentals with an option to purchase. At the same time developers will look to diversify their activities into more resilient sectors of the market such as homes for retired and commercial property, although the latter could start to suffer it's own problems as the financial crisis starts to undermine the "real" economy in the months ahead.

Although supply problems in Mallorca are not as severe as many other coastal regions of mainland Spain, it is probable that prices on the Island will weaken significantly, all be it less than in some of the worst effected regions of Spain. Falls from peak to trough of around 30% can be expected with one of the main problems facing buyers the fact that price adjustments are not occurring evenly across the market. The new build sector has responded much quickly with prices already significantly reduced while many second properties are being marketed at values unchanged from the peak in 2006 2007. This offers a real challenge for prospective buyers who will need to assess the values and price movements of each individual investment opportunity to see in which cases the realities of the market have been factored in, or where further very significant adjustments are required. Never has the term "buyer beware" been more apt.

For further information on the Mallorca property market, valuation and investment appraisal advice, please contact David Novi BA MPhil MRICS at http://www.novipropertymallorca.com or info@novipropertymallorca.com

Mallorca Property Prices Update October 2008

Thu, 01 Jan 1970 00:00:00 +0100

The latest report from IESE Business School on the value of second hand property in Mallorca and mainland Spain highlights the trend of falling prices throughout Spain. The average price per m2 of property in Spain fell to 2,646�, a fall of 8.3% when compared with the same month of 2007, while in Mallorca the figures were 2,541� per m2, a fall of 3.3%

For Mallorca and the wider Balearic Islands some of the key figures are:

Av. Price Annual +/

Ibiza 3,354 3.7%

Calvia 3,134 4.2%

Maratxi 2,585 2.4%

Llucmajor 2,578 10.9%

Palma 2,519 4.8%

Inca 2,058 3.6%

Manacor 1,867 4.8%

Commenting on the report, Novi Property Mallorca's David Novi explained "while the figures in many respects confirm the underlying strengths of the fundamentals underpinning the Mallorca property market, I also believe that Mallorca prices have not fully adjusted to the realities of the current economic climate". Expanding further, David added "at Novi Property Mallorca we have long mantained that the fundamentals of the Mallorca property market (relating to supply and demand) are sound and will ensure that some of the downside pressures are checked when compared with the situation on mainland Spain. Prices are and will continue to fall but not as much as many parts of mainland Spain".

Furthermore he explained "we have also observed that owners in Mallorca have probably held out longer than in other areas of the country before readjusting their expections relating to the values of their homes and this also explains why the fall in prices in Mallorca is lower than the national average. The short term outlook is, we believe, for further price falls, although with this we are also seeing the type of buying opportunities that come in a falling market"

Contact David on info@novipropertymallorca.com for a detailed discussion regarding the Mallorca property market and emerging buying opportunities.

Head east and beat the credit crunch

Thu, 01 Jan 1970 00:00:00 +0100

With concerns that the domestic property market is heading for free fall savvy property investors are looking further afield for their bricks and mortar investments, and not necessarily at the traditional holiday home hot spots.

The credit crunch has had greatest impact in those areas that have recently enjoyed cheap credit and high levels of borrowing, such as in the UK & US. The slowdown in these markets has though eased the way for many emerging markets less affected by the crunch, such as in Central and Eastern Europe.

In the UK, property investors increasingly have to place deposits of up to 25% in order to secure good rates on properties that are still highly priced compared with other markets. With this equating to �60,000+ in many parts of the country, the alternative of owning a property outright for similar sums is looking increasingly attractive to many.

Looking around the properties listing on Redence this morning, the E100,000 investment that a 25% deposit on a London flat would require presents a number of opportunities to buy outright if you head further east.

2% of Brits investing in foreign property last year chose Turkish property with the country's reformist investment climate. The resort location of Bodrum in particular always proves popular where your E100k investment could see you the outright owner of anything ranging from a stunning 3 bedroom triplex with sea views to a highly appointed luxury poolside apartment.

The most popular eastern European country for UK investors is Bulgaria, accounting for 6% of UK property investments abroad in 2007. Considering that our quarter share in a London flat could be exchanged for full ownership of a charismatic "revival" style house in the popular resort of Burgas or a luxury apartment overlooking the stunning shoreline at sunny beach it is easy to understand why.

It's not just Brits heading there either though. Russian investors in particular have been continuing to invest heavily in Bulgaria, helping to protect it's property market from the troubles being experienced closer to home.

Mallorca Property & Mortgage Gloom

Thu, 01 Jan 1970 00:00:00 +0100

Property sales in Mallorca and new mortgages in Mallorca continued to fall in August according to the latest data from the Instituto Nacional de Statistica. Mallorca property sales fell by 44% while the number of new mortgages reduced by nearly 50%.

In Spain as a whole property sales transactions fell by 37% (23% in new home sales and 47% in the second hand market)

These falls are blamed almost entirely on the lack of available credit / tightening credit conditions.

With so much bad news since August the trend of falling sales seems likely to continue adding to the plight of house builders with large amounts of unsold stock, particularly where they have had a highly geared business model. "On the flip side" adds Novi Property's owner David Novi is that good buying opportunities, particularly in the Mallorca new homes sector are starting to emerge.

For further information contact David Novi BA MPhil MRICS at info@novipropertymallorca.com or via www.novipropertymallorca.com

Mallorca Property Interest & Exchange Rates

Thu, 01 Jan 1970 00:00:00 +0100

The latest RBS Interest & Exchange Rate Forecast makes gloomy reading in terms of the worldwide economic outlook but at least offers the prospect of greatly reduced interest rates in the months ahead.

As previously reported the rapid decline in world economies, many moving into recession particularly in Europe, has moved the agenda away from concerns of inflation to one fully focused on stimulating flagging economies. In the Eurozone last months half point cut in rates came after a concerted period of near obsession over inflation pressures even though many economists had highlighted that these were always likely to weaken towards the end of 2008 and the main threat was one of recession.

Whatever ones view we are now in a period when global interest rates are on a sharply declining path that should, according to the RBS, see Eurozone rates back down to 2% by mid 2009.

This will offer much needed respite for property owners in Mallorca that have seen mortgage repayments rise sharply over the last 18 months. David Novi of Novi Property Mallorca was quick to point out that with most Spanish and Mallorca mortgages on reviewed annually it will take well into 2010 for much of the benefit of falling rates to feed through to the repayments of individual mortgage holders, but at least there is light at the end of the tunnel. In the meantime it is likely that where necessary banks will work with customers most in need to renegotiate mortgage terms and stave off the threat of widespread default.

Regarding exchange rates, some of the hoped for strengthening of Sterling against the Euro, which would have helped boost some extra interest from British buyers of Mallorca property, has fallen away as fears for the UK economy increase. The RBS foresee relative stability in the Euro Sterling exchange rates in the months ahead with some only modest improvements in the value of the UK currency.

For further information on the Mallorca Property Market, it's prospects in the months ahead, buying opportunities and best deal mortgages please contact David Novi BA MPhil MRICS on info@novipropertymallorca.com or www.novipropertymallorca.com

Spanish Mortgage Rates

Thu, 01 Jan 1970 00:00:00 +0100

Some good news is at least emerging out of the general economic and financial gloom with the Euribor, the main reference rate for Spanish / Mallorca mortgages, continuing it's downward trend of the last fortnight to situate it's self at 4.98%, the first time it has been below 5% since May.

With the president of the ECB strongly indicating that next week should see a further cut in Eurozone interest rates it seems likely that the Bank will use any opportunity to reduce rates in an attempt to boost the dramatic slowdown in the European economy. That said they will also want to remain wary of cutting rates too far and too quickly leaving the authorities without sufficient ammunition to fight future problems at a time of such financial and economic weakness.

With most other variables associated with the Spanish / Mallorca property market remaining so weak this trend in the Euribor will at least provide some relief for existing home owners and for those wishing to take out mortgage finance to fund a purchase, just when some good buying opportunities are starting to emerge. Regarding the latter we are at last seeing, in Mallorca, buying opportunities due in the main to some early distressed sales and general pressure on the new homes sector. In the months ahead we foresee this feeding through to the market more generally as property owners wanting or needing to sell repricing their homes to reflect the new "economic reality".

That said this is only likely to effect a minority (all be it growing) of properties resulting in a market with very wide variations in prices, not all of which will be that obvious. Critical for buyers will be good research, and specifically valuation advice, so that individual buying opportunities can be analysed and an objective view taken prior to any purchase decision.

For further information on the Mallorca property market please contact David Novi BA MPhil MRICS at Novi Property Mallorca (www.novipropertymallorca.com) at info@novipropertymallorca.com

Mallorca Property Market Update 10/10/08

Thu, 01 Jan 1970 00:00:00 +0100

At Novi Property Mallorca while we have always tried to bring our clients regular updates on the Mallorca property market and general economic situation, it seems almost impossible, in the current world economic climate, to do so when everything is moving so quickly! What we say today may be very different to what we might conclude tomorrow!

That said there is still real value in looking at where we currently stand and what are the likely consequences for the Mallorca residential property sector both now and in the future.

While people still want to sell and others still want to buy (and this won't change even if the world economy falls into deep recession or even "depression") we have a "market" and thus issues of pricing and economic returns remain real. We can't all throw our arms in the air, go home and wait for things to get better (it would be a long sabbatical from "life on earth" if we did that!)

So what is the current situation and the economic backdrop likely to effect the market? Let's look at some of the basic variables that are, and will be, effecting demand and supply now and in the near term:

Demand

Consumer spending is starting to fall as a result of real factors consumers have less money in their pockets, due to higher interest rates and mortgages etc and the very stringent tightening of available credit and psychological factors all the current uncertainty is making consumers much more conservative when it comes to making large expenditure decisions. All this is likely to feed into the general economy effecting profits, wages, employment etc and thus contribute significantly to the economic slowdown at regional, national and international levels.

Unemployment is on the rise and likely to rise significantly. Spain already has one of the highest rates in the EU, over 10%, and the result will be significant economic hardship for a very large number of people.

Interest rates are at historic highs in the Euro zone with the Euribor, main reference rate for Spanish mortgages, rising on an almost daily rate, putting more and more home owners in financial difficulties. While bad debt levels associated with residential mortgages stood at around 0.5% at the beginning of the year the figure is rising past the 3% level and could reach 5% by the end of 2008 early 2009. This is significantly undermining demand and consumer confidence. What will be interesting will be to see the reaction of the main international Central Banks in the weeks ahead and whether, as predicted, we will see the start of concerted cuts in base rates (as we write this the ECB, Federal Reserve, and Bank of England have cut rates by 0.5%). Although much will depend on the impact of these cuts on the key interank lending rates, such as the Euribor (currently remaining on a stubbornly upward trajectory despite the base rate cuts), we suspect this will be one source of comfort in the months ahead, as liquidity and confidence returns to the market.

Credit squeeze (need we say more!) the availability of mortgage finance has plummeted while the costs (interest rates and bank margins) soured. Until recently it could have been argued that there was still quite reasonable demand but the major problem was converting this demand into actual transactions due to restrictions on new credit. It seems likely that this underlying demand is now on the wane, due to the wider economic problems, although we would not say it has dried up (anecdotally both Novi Property Mallorca and others operating in the market note ongoing buyer interest even if the approach is ever more cautious and price sensitive).

Exchange rates at least for non euro denominated purchasers the issue of exchange rates is very real. Over the last 6 months we had seen very significant strengthening of the Euro (or weakening of the other currencies depending on your opinion!) against Sterling and the US Dollar. The result was to effectively make any purchase around 15% more expensive. This trend is now reversing and although only time will tell whether this will continue, as many commentators predict, it looks likely that for UK and US buyers (particularly those with "cash") conditions will improve.

Supply

Vendors don't need to sell! This is in fact a real issue in the Mallorca market. A significant % of vendors will sell at the "right"price but otherwise seem happy to sit out the downturn. What will be interesting is to see how many will be prepared, and able, to do this if the length and depth of any recession increases as much as now seems possible.

The flip side is the number of vendors who do need to sell. Much will depend on what stance the banks take with regard to bad debts and associated repossessions / refinancing packages. Both politically and economically it seems likely that banks will attempt to renegotiate mortgage terms with consumers that run into difficulties, but undoubtedly the number of properties coming to the market for these reasons will increase in the months ahead.

While Mallorca is suffering much less than the Spanish Mainland from the "supply overhang" resultant from the unprecedented, and unsustainable, construction boom of the last 5 years, certain sectors of the market (low and mid range apartments and houses for example) are effected. In the last few weeks we have started to see real price competition and cutting amongst hard up developers, particularly in this market segment, with cuts of up to 30%.

It appears most developers have been quick to turn off the "supply tap" so at least it seems unlikely that the new build supply side will worsen

In summary there are certainly more negative variables than positive, and most importantly a great deal of uncertainty. What seems likely is that the general demand side will weaken further and this will put downward pressure on prices. How far prices will fall is perhaps the key question in every property owner's or purchaser's mind. While one could debate in depth the relationship between different asset classes (property, shares, bonds etc) particularly in relation to pricing, with world stock markets undergoing such significant corrections in pricing (European markets have fallen by over 30% during 2008) and supported by the negative supply and demand variables referred to above, it is very likely that property prices will fall significantly. Falls generally of 30%* during the course of this phase of the economic cycle are likely and as, until recently, owners in Mallorca seemed prepared to try to hold out the downturn, much of this correction in prices is still to come.

So what does this mean for potential buyers of Mallorca property, what should they do and who will be the active players?

"Cash is king". While the credit markets remain under such pressure and with disposable income levels falling cash buyers will be the main players not only because they will have the funds but because they will have the power to negotiate significant price discounts. We believe for these buyers there will be real value opportunities in the months ahead.

Valuation advice will be critical While general comments can be applied to the market, absolutely critical in the current market will be quality professional valuation advice if buyers are to ensure they buy at prices that reflect true underlying values.

New properties It is likely that there will be greater downward pressure on prices in the new homes market, as developers face increasing cash flow problems and slash prices in the months ahead. In the second hand market we forsee two markets emerging a real market where prices closely reflect underlying values, and over priced properties where vendors either won't or do not need to significantly reduce asking prices. Reseach / professional advice will be very important in identifying into which market area any partcular property falls.

We see land values falling offering interesting investment opportunities for developers and individual house builders. With construction contract costs falling, as builders compete for ever decreasing projects, this could be an interesting time to look at this sector of the market.

Exchange rates We see improvements for Sterling and US Dollar denominated purchasers of around 10%. Along with falling prices this should make certain well priced properties interesting long term investment opportunities.

Due dilligene, due dilligence, due dilligence! While this is critical in any market with "desperation levels" rising amongst estate agents and vendors, "hard sell" techniques are on the increase with pressure on buyers to sign reservation and option contracts before full legal due dilligence has been undertaken. Choose a good agent or representative, use an independent lawyer and only sign when the latter completes all searches and other contract enquires.
For further comment and opinion please contact David Novi BA MPhil MRICS at david@novipropertymallorca.com

*Note Here we refer to "asking prices" not "values". In a rising market there is a tendancy for asking prices to be significantly ahead of values, in the case of the Spanish market, generally some 10%. This differential tends to widen at the start of the downturn as asking prices remain on hold while values fall. As the bottom of the market is reached, characterised by increasing distress levels, asking prices can in many cases equate to underlying values as vendors apply a sense of realism and urgency to attract buyers. We are of the opinion that underlying values will fall by between 15 25% in Mallorca. Each case / property however requires individual attention / analysis, as some properties remain totally overpriced while others have seen price adjustments in line with true values in the market.

Spanish House Price Index

Thu, 01 Jan 1970 00:00:00 +0100

The well used phrase "Lies damn lies and statistics" springs to mind when looking at the new Spanish property price index, launched by Spains National Institute of Statistics in collaboration with Eurostat, the EUs statistics office.

Surprisingly or perhaps best said, incredibly, the index claims that average Spanish property prices fell by just 0.3% over 12 months to the end of June, with resale prices falling 4.9%, and new build prices actually rising by 5.3%. All this against a backdrop of an unprecedented over supply of new properties sitting empty on the Spanish Mainland; thousands of estate agency offices closing; residential developers running into serious difficulties with the banks; mortgage default levels rising; mortgage interest rates at historically high levels; and unemployment the highest in Europe!

Anecdotally most serious commentators concur that values are falling by at least 10% and in some areas with the over supply is most acute, by significantly more.

In countries such as the UK, Ireland and US, all of whom have gone through similar house price cycles, all indices show sharp falls in value, suggesting that something is clearly wrong with the new index here in Spain.

Unfortunately poor information and statistics has always been the problem for analysts of the Spanish property market and this looks unlikely to change!

For further advice and comment, with specific reference to the Mallorca property market, please contact David Novi BA MPhil MRICS (david@novipropertymallorca.com). See also www.novipropertymallorca.com)

Mallorca Property "Too Expensive"

Thu, 01 Jan 1970 00:00:00 +0100

Property in Mallorca is completely outside the reach of young fist time buyers in Mallorca according to the latest figures from Observatorio Joven de Vivienda en Espa�a despite recent falls in property values.

A monthly salary of 3,300� would be needed, compared to the current average of 1,182�, in order to not exceed the usual debt repayment to income maximum ratio of 30%.

At these levels it is hard to see how even a very serious correction in property prices will allow first time buyers to get on to the property ladder. Politicians thus have a serious responsibility to increase the of Affordable Housing provision in Mallorca, and to deregulate the residential property rental sector, incentivising owners to release units on to the market thus at least providing youngsters with an alternative source of decent housing.

Story provided by Mallorca Property News (www.mallorcapropertynews.com) in collaboration with Novi Property Mallorca (www.novipropertymallorca.com)

News Albania Emerging Property Market and Advice:

Thu, 01 Jan 1970 00:00:00 +0100

After the property markets of Eastern European and Balkan neighbours such as Bulgaria, Romania, Croatia and Montenegro reached their high peak Albania did finally emerge and is now considered as the Last Property Hotspot of Europe.

Albania Properties / Alfa Information being the only agency in the market for over 10 years has seen the market move swiftly and very fast.

The demand from foreign investors started end of 2006 even though a large number of Italians and Greeks did spot the opportunities in very early days 7 8 years a go.

When we first started marketing Albanian property to foreign market few years a go there were no other agents or developers in the market but as time moved on within one year you can see the dramatic changes are happening and many foreign agents and investors have realised the opportunities that Albania has to offer.

Considering that Albanian properties, lands and other investment opportunities are 75% cheaper compare to other European markets of Bulgaria, Croatia or Montenegro off plan property prices have reached over 2000 Euro per square meter.

Property prices in the outskirts of Tirana are from as low as 380 Euros per square meter and in the preferred locations from middle class Locals such as Fresku, Linza, Selita, Lake and Botanic Garden, off plan proeprty are from 550 700 Euros per square meter.

Average rentals achievable are 5% Yield per year where capital growth has been the main factor to be more appreciated at around 25% per year. As in every other Emerging Property market it is always a bonus to achieve a good rental return but it is mainly the capital growth where the main benefit lies.

It is also very important that in Emerging markets to appetite the highest capital growths therefore it is best advised to get in early.

With over a decade experience we recommend Tirana as an investment opportunity due to its all year around rentals from the local market. The Albanian coast is also fantastic for rentals during the long summer season.

Also another important factor in Albania is that non resident mortgages are now available and we are pleased to say we have managed to sell an entire development with finance in Tirana.

We only take exclusive properties, lands and other investment opportunities which can be financed and thanks to our broker who assists all foreign investors with their mortgage procedure step by step.

Vlore coastal city is one of teh most saugh after location from Albanians to spend the summer holiday and miles of Sandy beaches, panoramic views, stunning area with sparkling blue and deep waters surrounded by green and hilly landscapes.

Vlore has also has seen 30% increase in tourism and visitors in 2007 compare to a year before 2006.

To help with the lavarage Albanian banks also offer finance to non residents ONLY through bank guarantee complexes/developments. The application has to be made only through Local Mortgage broker whe everything is already set through our Tirana offices.

Albania Properties / Alfa Information are the leading local Albanian agency whose offices have been in operation for over 10 years in Tirana and have been assisting the local market on rentals and management. Due to our long years service during this period we are the most experienced in knowing where locals do prefer to buy, reside or rent.

For any questions or if you need advise about Albanian property market please feel free to contact www.albania properties.co.uk or call: 00442076079119.

Marina boosts property sales for Altinkum

Thu, 01 Jan 1970 00:00:00 +0100

Altinkum is a small resort on the Aegean coast of Turkey. It is only one hours transfers from the nearest airport of Bodrum and people are starting to see some major changes here. Building work is well under way for the new Marina of the Aegean coast. Once completed in 2009 it will include an extensive dry dock with the capacity to house 650 boats, while the marina itself will hold 450 boats. Total cost for the work is expected to hit 50 million dollars, but it will be worth it as when finished it will be the largest Marina in Turkey.

This has been good news for house owners in Altinkum, already the price of land surrounding the area of the Marina has increased in value. The property for sale in Altinkum also has the advantage of being the cheapest resort out of the whole of Turkey to buy in. The reason of course is that the resort is not fully established in terms of infrastructure however the local mayor is busy at work ensuring road surfaces are laid down and electricity supplies re laid.

Once the infra structure and improvements have been made to resort, property owners in altinkum can expect to see the returns of their investment. There is also rumours re a golf course in altinkum, however a lenghty wait is expected whilst final plans are being drawn up. In all though we can see the resort of Altinkum going from strength to strength and nothing but good news for the property owners.

Kusadasi The Aegean Jewel and NOW GOLF!

Thu, 01 Jan 1970 00:00:00 +0100

Kusadasi on the Southern Aegean, in the province of Aydin is often described as the "Jewel of the Aegean". A modern cosmopolitan resort with a large selection of beaches catering to various tastes and requests. Currently Kusadasi boasts TEN Blue Flag beaches along its 30 kilometre coastline; all are easily accessible by Dolmus (Municipality mini bus service) for a minuscule fare. Ladies Beach is the most popular beach in the area, with its tree lined promenade, with rows of cafes, bars, restaurants and beach clubs. The clear, clean waters of the Southern Aegean are ideal for diving, surfing, sailing, water parachute, water ski and fishing, these facilities are contributing to the increasing interest in the Long Beach area which starts a mere five kilometres (3 miles) from Centrum.
Enjoy sun, sand, sea and sarap .........
For a pleasurable stroll, day or night I highly recommend the route from Kusadasis landmark, Pigeon Island, past Scala Nuova Port Authority, Setur Marina and along to the junction for the main Izmir Road. This 2km (1.2 mile) route is dotted with public parks, Childrens playgrounds, tea gardens, cafes, restaurants, ice cream parlours and bars ranging from Kusadasis FIRST sea food Restaurant (Toros Restaurant) opened in 1894 to the recent additions of traditional style Turkish cafes bars, decorated in time honoured fashion (scatter cushions, water pipes, Turkish rugs). Relax in any of these establishments and admire the glistening waters during the day or the lights from the anchored cruise liners, reflecting on the night sea or the bobbing masts of the 350 plus yachts anchored at Setur Marina, all under the ever watchful eyes of the statue of Mustafa Kemal Ataturk, the founder of the Turkish Republic, which sits on a hill overlooking the Kusadasi Bay Area.

Centuries ago Scala Nuova was the port of Ephesus and the main port of the Aegean region. "...great modern Turkish sea port which carries on a considerable trade with Egypt and the neighbouring districts and islands..." (The Encyclopaedia of Geography: Comprising a Complete description of the Earth published 1839)..........today, following privatisation in 2003 the port area is a Shoppers paradise with its stunning array of quality shops, cafes, bars etc. 1,174 vessels (boats and ships) transferred a total of 424,949 passengers to Scala Nuova Kusadasis Harbour in 2006. Explore the port area just pass through the security check, most of the security Personnel speak English and will be happy to assist you. Or combine your stay in Turkey with a day trip to the Greek Islands of Samos aboard the daily ferry from Scala Nuova (1st April to 31st October please book in advance as during the summer season the ferries fill up very quickly).

Kusadasis Setur Marina is one of Turkeys finest Marinas, the largest Marina on the Aegean and one of Turkeys 14 Blue Flag Marinas. Dry dock, repair services, a Helicopter Helipad, laundry, market, tennis courts and swimming pool are all on site.
Enjoy a wonderful meal or a cocktail at the Missina Restaurant and get a view of Kusadasi usually reserved for the lighthouse.

If life at home has left you stressed or the aches and pains associated with the advances of time then consider a Turkish Bath (Haman) also useful to ensure an even suntan, the exfoliation and oil massage will prepare your skin and leave you relaxed and rejuvenated for your holiday. Alternatively enjoy a thermal bath, the Davutlar dolmus will drop you at Radon Thermal or Natur med , bask in the waters, avail of the beauty treatments or just have a full body oil massage.

If slides, rides and dolphins interest you then you can choose Aqualand with over 25 rides set in a 25 acre site on the outskirts of Kusadasi just opposite Kusadasis 10,000 capacity conference centre due to open Spring 2009. Or Aqua Fantasy which certainly lives up to its name. Or a trip to Adaland, described in the New York Post as one of the Top 10 Aqua Parks in the World with Dolphinpark or its 2008 addition Seapark which is an interactive experience with 2,000 tropical fish, swim with sharks and alligators...............Nemo has been found, living the dream in Kusadasi!

Kusadasi is the fulcrum from which to explore a large selection of the historical sites in the Aegean region............
The House of the Virgin Mary near Ephesus, this site is sacred for both Christians and Muslims (Muslims also believe in the virgin birth and honour Mary as the mother of the Prophet Jesus. Mary is the only female mentioned in the Koran by name). The House of the Virgin Mary (17km north of Kusadasi) has been visited by Pope Paul VI in 1967, Pope John Paul II in 1979 and Pope Benedict XV1 on 29th November 2006.
On your return, visit Ephesus, The Temple of Artemis (one of The Seven Wonders of the Ancient World), The Basilica of St. John the Apostle, The Grotto of Seven Sleepers,
The Citadel of Ayasuluk (Selcuk Castle) and Isa Bey Mosque constructed in 1374.
Other local sites of historical interest include Kusadasis Caravanserail, Neopolis, Tire, Teos, Odemis, Birgi , Belevi Mausoleum, Didyma, Priene, Aphrodisias, Panionion, Cave of Zeus, Claros, Magnesia, Phygale, Miletus, Euromos, stop at Lake Bafa en route, Heraclea, Hierapolis, The Monastery of Kursunlu, Phygale and Notion.

Nature Lovers and Ornithologists will not be disappointed with a visit to National Park on Dilek Peninsula with its 27.675 hectares (68.357 acres) of park land, 28 species of mammals, 42 species of reptiles, 804 types of plants and 256 species of birds.

Wine Connoisseurs Lovers will certainly enjoy a trip to Sirince (cute) village, appropriately named, nestled in the shade of olive, orange, peach and fig trees on its hillside location. Traditional stone houses on the slopes provide superb views of the valley below which can be enjoyed while sipping a selection of locally produced organic fruit wines. Dont leave the village without purchasing locally produced olive oil, olive oil soaps, local handcrafts, candles or some traditional Turkish souvenirs e.g. Nazar Boncuk "Evil Eye" , these charms are hand crafted from blown glass.

Kusadasi International Golf Resort is Turkeys first residential Golf Resort, the first
9 holes will be completed in autumn 2009 and the entire 18 hole course will be ready by May 2010.

Kusadasi Rugby Club Kusadasi Kartals (Eagles) organised "Kusadasi Rugby Festival 2008", Turkish and Expatriates look forward to further International Club Games.

With 300 days of sunshine, organic fruit & vegetables, Kipa Mega store (Tesco), B&Q, Ikea in Izmir, Bozdag Ski Resort in easy reach, you can enjoy the best of all worlds. Keep abreast of local news with Ege Eye fortnightly, free, local newspaper in English & Dutch. Why not join the 5,000 plus Foreigners who have made Kusadasi their home?

Kusadasi is 90km south of Izmir International Airport (Adnan Menderes Airport) and 120km north of Bodrum International Airport.

Kusadasi International Golf resort

Thu, 01 Jan 1970 00:00:00 +0100

Kusadasi international golf club is a spectacular new resort golf course with residetial community
located just outside the town of Kusadasi,superbly positiond on the crest of a hill,it overlooks at a
green valley and breath taking Aegean sea.The 18 hole golf course and the valley offers an unrivalled
panaramic view of this beautiful area.

Grupo Drac, Mallorca's Largest Developer, Goes Into Administration

Thu, 01 Jan 1970 00:00:00 +0100

Grupo Drac and owner Vicente Grande, Mallorca's biggest property developer, sought protection from creditors this week in the biggest sign yet that the slowdown in the Mallorca property market is taking grip.

With estimated debts of over 600million euros, within the 14 strong company group, there is real concern across market as to the consequences of, what has become, the biggest corporate failure in the history of the Balearic Islands.

An interesting twist to the tale is that Vicente Grande owns 93% of the shares in Real Mallorca football club and is also Chairman. Only time will tell what impact the collapse of Grupo Drac will have on the financial picture of the club.

The group, established in 1995, has been at the forefront of the development boom, that characterised much of Spain and Mallorca. However, in line with so many Spanish property development companies, the highly leveraged approach adopted, and the unsustainable growth in construction and prices, has now become the Achilles heal that has brought the business to it's knees.

Apart from its Mallorca property activities, Grupo Drac have an international division with projects as far afield as Santo Domingo, Mexico, Bulgaria and Poland.

Concerned about the market and how to seek out genuine buying opportunities amidst the "crisis"? Contact independent property advisors and Chartered Surveyors, Mallorca Chartered Surveyors (www.mallorcacharteredsurveyors.com)

News story provided by Mallorca Property News (www.mallorcapropertynews.com)

Euopean Inflation Hits 16 Year High

Thu, 01 Jan 1970 00:00:00 +0100

Eurozone inflation has been revised up to the highest level for 16 years and the European Central Bank's main concern now is that rising wage costs could add increasingly to the pressures created by soaring oil prices.

Annual inflation in the 15 country region last month was 3.7 per cent up from 3.3 per cent in April. This rate is the highest since the Eurozone came into being in 1999 and since 1992 on a comparable basis.

It was on the back of these concerns that the ECB threatened to raise interest rates by a quarter point to 4.25% in July helping to drive the Euribor, main reference rate for Spanish mortgages, higher. The announcement also pushed the Euro higher against Sterling making it a double blow for Sterling denominated purchasers requiring mortgage finance to purchase a Spanish property

Editors Note: Sterling based purchasers should look at options to delay currency converting until the Euro starts to waeken, as is anticipated late in 2008 2009. Various banks are offering mortgages with euro loans backed by a Sterling deposit with the latter repaid at the client's discetion when the exchange rate picture has improved. In most cases the interest received on the Sterling deposit is greater than that payable on the associated Euro loan thus leaving the client in a positive or at least neutral cash flow position. Contact a good mortgage broker, such as The Mallorca Mortgage Business www.mortgagesinmallorca.com for further information.

The ECBs fear is that high inflation rates caused by high oil price will become entrenched by feeding through into wage settlements. The hope is that the planned increase in interest rates next month will be enough of a signal to reduce expectations about medium and longer term inflation rates. The ECB's target is for annual inflation to be "below but close" to 2 per cent.

On a positive note details of the latest inflation data showed "core" inflation, excluding volatile energy and unprocessed food prices, rising only modestly in May to 2.5 per cent, from 2.4 per cent in April.

The main headache for the ECB faced with such a blunt tool as "central bank interest rates" is that within the eurozone, inflation rates continue to vary considerably. At the top end Slovenia inflation stood at 6.2 per cent in May, while Belgium, Greece, Spain, Cyprus, Luxembourg, Malta and Finland all reported rates over 4 per cent. At the other end of the scale, inflation was just 2.1 per cent in the Netherlands

News story supplied by Mallorca Property News (www.mallorcapropertynews.com)

Deutsche Bank Spanish Housing Market Report

Thu, 01 Jan 1970 00:00:00 +0100

A recent report from Deutsche Bank on the Spanish housing market and economic out look highlights the risks of Spain moving into recession in 2009.

The depth of the property crisis and the importance of this sector to the general health of the Spanish economy are the main reasons why Deutsche Bank feel there is a real risk of Spain moving from one of Europe's fastest growing economies into a recession next year. Highlighting public sector expenditure as the main reason why they see growth will continue this year they feel that continuing weakness of the housing market, in a sector that in recent history has contributed around 9.5% of Spanish economic output, could be enough to put the economy into reverse.

They estimate that housing starts will fall by a massive 40 50% during 2008, that the construction sector will not recover for around 3 years and that the crisis may be even more severe than those of 1992 and 1997. In relation to the general trend for Spanish property prices they predict falls of between 2 and 8% this year and 5 10% in 2009.

And the reasons behind the property / housing crisis? The credit squeeze and severe restriction of bank lending within the housing sector and sentiment within the market that prices have peaked linked to buyers delaying purchase decisions.

Coupled with the weakening demand picture Deutsche Bank highlight the "stock" of unsold properties on the market which they estimate at around one million. With underlying demand estimated at around 400,000 units per year it is estimated that it will take several years of reduced new unit output for this to be taken up, particularly where demand remains weak.

The picture painted by the Bank is not helped by the continuing rise in the Euribor, the main reference rate for Spanish mortgages. Only last week this reached a near record rate of 5.429% on news that the European Central Bank (ECB) may need to increase interest rates in the face of ever strengthening inflationary pressures.

Editors Note:

Of interest to property owners and buyers will be the relative performance of the housing market at a regional rather than national level. With both the supply and demand side factors varying quite significantly across the country the outcome for the market is likely to be quite different. While some mainland coastal regions have experienced huge speculative construction booms, driven in part by Europe wide investor interest, and leaving a legacy of empty units, other areas have seen a more balanced supply and demand picture that should ensure the picture is one of a "soft landing" rather than full blown crash. In this respect Mallorca and the wider Balearic Islands are likely to be one of the regions best able to ride out the storm.

News story provided by Novi Property Mallorca (www.novipropertymallorca.com)

Spanish Property & Economy Update

Thu, 01 Jan 1970 00:00:00 +0100

The Spanish business school presented last week it's annual report on the Spanish economy putting forward another downbeat view of life both generally and specifically for the Spanish property sector. Discussing the spectre of negative equity they suggested that 10% of all Spanish mortgage holders could be in negative equity by the end of the year.

In line with many market commentators the report put forward the view that price falls of between 20% and 30% could be expected putting huge pressure on owners of property purchased within the last three years, particularly where high loan to value ratio mortgages were agreed. With many mortgages granted in recent years arranged to cover 120% of purchase values, (to assist with purchase costs etc) many mortgage holders will move deep into negative equity.

With the Spanish economy slowing and estimates rising for unemployment levels, mortgage defaults look set to increase making negative equity even more painful for home owners forced to sell their properties and further weakening sentiment in the sector.

The report concludes that while the slump in the general economy may bottom out by the end of 2009, the Spanish property market may not see light at the end of the tunnel until 2012. The key question for property buyers is not just how the market will perform at a national level but more importantly what will happen within the quite different Spanish regional property markets.

News story provided by Novi Property Mallorca (www.novipropertymallorca.com)

Greek property invasion

Thu, 01 Jan 1970 00:00:00 +0100

Greek buyers are most interested in property in the coastal Varna and Bourgas, as well as the ski resort of Bansko. Over the past two years, Greece has staged a "real onslaught" onto the Bulgarian and other Balkan markets, Greek business newspaper Imerisia reported on May 7.

Greek construction companies, mainly from the northern part of the country, have been building large residential, office and retail developments in Albania, Bulgaria, Croatia, Romania and recently, Macedonia.

At the same time, hundreds of individual investors have been buying homes, which they either rent or use for recreation.

Despite the recent spike in Bulgaria, Greek buyers still believe local property prices to be affordable, Imerisia said.

Greek buyers are most interested in property in the coastal Varna and Bourgas, as well as the ski resort of Bansko.

Greece is not as keen on other Balkan states because of the surge of property prices in recent years. A new apartment in Bucharest, for example, sells at 1700 euro a sq m, whereas Serbian rates are comparable to those in Greece, at about 2200 euro a sq m.

Source: Elena Koinova / propertywisebulgaria.com / Greek business newspaper Imerisia

Korinia Director voted as Vice Chairman of North Cyprus Estate Agents Association

Thu, 01 Jan 1970 00:00:00 +0100

Guray Haksever, the founder and Co. Director of the longest established estate agency in North Cyprus, Korinia Estate Agency has been voted by his colleagues within the North Cyprus Estate Agents Association as the Vice President of the organisation.

The group, headed by Mr. Hasan Sungur, aims to raise standards within the sector and set rules for estate agents to regulate and uphold a high level of professionalism for those working within the North Cyprus property market.

The government will liaise with the association regarding relevant new proposals and laws and has already taken steps towards a new system that will prevent un registered estate agents from trading. Under the latest proposal, any new property sales transactions will only be accepted at the land registry office if they are stamped by an Estate Agent who is a registered member of the association. Registered Estate Agents will be held accountable for problems caused by misrepresentation or dishonesty which will benefit buyers and sellers alike and maintain the reputation of the more professional organisations within the property sector.

DPI Worldwide Property Show Discover your place in the World

Thu, 01 Jan 1970 00:00:00 +0100

Why not come along to one our Free Property shows? Meet our team of highly trained professionals with first hand experience of living, working and buying property overseas. We will be happy to answer any questions, offer impartial advice or just have an informal chat about overseas property investment.

We cater for all tastes whether you are looking for a home by the sea, an investment property or a lifestyle choice, we can guide you in the right direction. We have an extensive up to date portfolio of developments currently available in Cyprus, Florida, Bulgaria and Turkey to name a few.

Book now for one of our twice daily seminars hosted by property professionals and developers keen to impart their vast first hand knowledge and experience of the market.

Our free seminars offer advice ranging from the purchase process, tax planning, off plan investments, rental income, moving and living abroad.

Come and join us at the Gatwick Hilton on Saturday, February 2nd. Book your place now 0207 099 8210

Tailor Made

Thu, 01 Jan 1970 00:00:00 +0100

Carefree Living projects are based upon a wide range of facilities, amenities and services, underpinned by leading edge technology within the construction of the properties. Carefree Living encapsulates the promotion of healthy living in a luxury home situated in a peaceful part of your favourite European country.

..........................................

Bridge Property International is proud to be working with the leading provider of `carefree living` projects in Europe Tailor Made International property B. V.
With developments in Spain, France, Italy and Germany, Tailor Made International B.V. have been building developments in Europe for over 14 years
Director of Bridge Property International, Mike Luxon said "People are living longer and retiring earlier and our research shows that this target market has a growing interest in moving abroad. Interest levels in the duration of the stay vary, but one thing is for sure, the numbers buying and moving abroad is going to increase. Presently 1 in 10 UK residents over 55 live/ retire abroad. By 2012 the number will increase to 1 in 8, rising to 1 in 5 by 2020". Luxon continues "Our relationship with the developers of the `carefree living` projects, places Bridge Property International at the forefront of this growth market and also provides our future clients with access to serenely beautiful locations, excellent local and regional gastronomy, superior build quality and a future which they can enjoy".
Current developments include
Residencia la Ciguena
Situated in the south west Spanish province of Huelva near the small resort of Istantilla. It lies halfway between Seville and the Portuguese city of Faro.
La Ciguena comprises of 27 villas and 216 luxury apartments, set in a rural area close to a national park, golf course and bird sanctuary. Prices Start from �148,000 (Approx.)
Le Castel
Based in the south west, Midi Pyrenees (Le Gers) region of France, Le Castel is characterised by superlative levels of service and facilities.
The development covers the south facing slopes of two hills adjacent to the village of Castelnau d`Auzan. A magnificently situated site, this will be divided into 111 individual plots of roughly 725msq each. This will provide enough space for a series of detached villas with private gardens, plus ten spacious `maisons de maitre`, housing a total of 62 apartments (each with a terrace). Prices Start from �175,000 (Approx.)

(Bridge Property International offer developer prices only for clients
Bridge Property International is also pleased to be able to offer the Le Castel project to investors who understand the growth of the retirement market and are interested in investing in group unit purchases on this site. 1st Phase is due for completion, 2009.
For details of this investment opportunity please contact Bridge Property Investments
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With developments to suit all budgets, Bridge Property International can offer some of the most desirable developments in the most sought after regions around the globe.
The directors of the business pride themselves on sourcing some of the most unique development opportunities for investors, retirees and holiday home owners alike.

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For further Information:
Mike Luxon Director
Bridge Property International Limited 0044 (0) 1293 763 028

Castril de La Pena

Thu, 01 Jan 1970 00:00:00 +0100

Castril is located in a little known area called the Altiplano de Granada, in the most NE tip of the Granada province in Andalucia. A diverse area in part dry and barren to fertile valleys and fantastic vistas. At this time of year the views of the snow capped mountains of the Sierra Nevada are fantastic. It is an area steeped in tradition, with many local fiestas and celebrations throughout the year the main fiesta is in October and should not be missed with the running of the bulls and much free flowing Sangria. It is also a fantastic location for many outdoor activities. Down in the beautiful Sierra de Castril the river runs all year reaching the Embalse Portillo. There are many activities available, for the more energetic both mountain and road cycling is great, mountain climbing, walking etc. With the fantastic ever changing scenery it is a painter or photographers dream. You experience every season here, snow in the winter, almonds blossoms and an abundance of poppies in the spring to high temperatures in the summer (40�plus) to autumn colour as the poplar trees lose there leaves.

The wildlife is fantastic and throughout the year Griffon Vultures can be seen in many numbers circling above. There are many other birds to see, kites, eagles etc and the spring flowers of camomile, poppies and wild rocket cover the land.

Castril itself is a traditional Andalucian village, with white washed houses and narrow cobble streets. The visitor centre offers much information about the area with maps on many of the walks availabe. In the summer the local pool fed direct from the river is beautiful and offers a great place to relax in the sun. There are a number of bars in Castril and in this area tapas is still freely given with a cerveza (beer!)

If you want a change from the normal Spanish holiday then Castril and the surrounding area is definitely worth a visit, although off the beaten track access is good with excellent road links to many airports, Granada, Almeria, Murcia and Alicante.

History was made this week in Cyprus when the central bank met to set interest rates�

Thu, 01 Jan 1970 00:00:00 +0100

Not because it was for the first time, but because it was for the last. For the record, governor Athanasios Orphanides said the three rates set, the key refinancing rate, the Lombard rate and the overnight deposit facility, would all stay as they were, the Cyprus Mail reports.

Mr Orphanides said any changes would have "no marked difference" and the monetary policy committee backed this view. Thus the curtain starts to fall on the Cypriot Pound.

New Year's Day will be a momentous one. It often is somewhere in the European Union, with 2007 seeing Bulgaria and Romania expanding the club to 27 members. 2008 will see the number of eurozone members in the union climb to 15, with Cyprus joining fellow Mediterranean island nation Malta.

Momentous event

The Cypriot central bank is on record as stating that this event is as momentous as it gets, saying: "Cyprus is preparing for one of the most important changes in its history." This is undoubtedly true in economic terms at least, for the central bank statement went on to add that this brought the country into an economic zone which is home to 310 million people.

While Mr Orphanides and his colleagues seek new employment, property investors should be very busy in the country, according to worldwide real estate firm Property Abroad. Director Les Calvert said that the country was already hugely popular, stating: "Cyprus has been increasing in popularity over the last year and more people are now making specific enquiries for property in Cyprus."

Part of this, he noted, was because of a financial situation which was in fact about to change: "There are still a few properties around that are free of VAT out there so people are jumping on and trying to snap up properties where they can."

A new opportunity awaits

Yet Mr Calvert was convinced that the country's property scene would benefit from the euro, predicting: "When the euro comes in it will make the property market a lot more open and I expect the market to rise quite healthily."

He advised that investors would be able to make good use of "excellent" foreign currency mortgages provided by Swiss and other banks, though these were "more advantageous" for those living or at least gaining income from overseas.

Cyprus will await the new year with interest, preparing for an economic and political future tied into the heart of Europe. For investors looking to sink their capital into property in the eurozone, a new opportunity awaits.

Further Tightening on Mortgage Lending in Mallorca

Thu, 01 Jan 1970 00:00:00 +0100

Further to our previous reports (Oct 07) of banks tightening mortgage lending criteria there is now real evidence of banks significantly restricting lending and widening margins.

While earlier talk of tightening was more anecdotal the situation now is much more severe with many banks widening their interest rate margins changes from 0.75% to 1.5% above Euribor (the reference rate for most Mallorca and Spanish mortgages) are not uncommon and, more significantly, some banks are actually closing their loan books, at least to new customers.

The next few weeks will be very telling for what we can expect from lending criteria looking forwards into 2008 with news awaited on Corporate results from the banking sector, and general liquidity in the market, both at the Mallorca and international levels.

While this is clearly unhelpful to a property market already adjusting to a period of very limited growth, most commentators feel that while 2008 will be harder, both in relation to the financial and property markets, the defencive qualities (relatively limited supply, restrictive planning policies, demand underpinned by lifestyle purchasers as opposed to speculative investors) of the Mallorca market should go a long way to ensuring any down turn should be quite moderate. Furthermore serious buyers with sizable deposits could in fact find interesting buying opportunities as vendor expectations become more realistic and banks look to quality rather than quantity on their loan books.

What is clearly even more important in the current climate is for buyers to look into their mortgage borrowing requirements, well in advance of commencing a property search, thereby establishing their budget and being in a stronger negotiating position once the appropriate property has been identified.

Should you wish to discuss your Mallorca mortgage requirements please contact The Mallorca Mortgage Business

Story supplied by Inversiones Novi SL

Sellers Packs marketing your Mallorca property

Thu, 01 Jan 1970 00:00:00 +0100

Home Sellers Packs have been one of the recent hot topics both amongst estate agents and the general public in the UK as the Government there has tried, in a rather clumsy fashion, to use legislation to force their introduction across the market. In many respects it is rather surprising that something which on the surface of things seems relatively sensible should cause such fierce debate and controversy. Much of that has been due the breadth of information suggested for these Packs, the timescale for their introduction, who is qualified / able to provide the reports and the fact that they are being forced on the market rather than being introduced voluntarily.

In Spain and Mallorca, to date, there has been little or no talk of the use of such reports but is there a place for them, in whatever form, and how could they assist the process of selling and buying real estate investments? As, in the main, representatives of buyers, Novi Property Mallorca and Mallorca Real Estate Search know only to well how often lack of information, or delays in obtaining information, either holds up a sale or even frustrates it all together. What could be done?

Starting at the most basic level there is a certain amount of information that will be needed when it comes to agreeing the private contract for sale (Contrato Privado equivalent to exchange of contracts in England) and proceeding to completion. Getting this information at the outset will not only save time, once a buyer has been found, but will demonstrate a "seriousness" and "transparency" in approach by the vendor which could well make the difference between a buyer making an offer or not. Serious and well informed buyers will be asking for this information in any case so why not get it all ready in advance?

So what information should be included? At this "basic" level what we are talking about is a copy of the deeds (escritura); a receipt for the last Town Hall rates bill (IBI in Spain); if the property is part of complex / block of apartments etc (known as "Community") copies of the most recent receipts and minutes of the last annual meeting (this will help identify discussions and decisions re on going maintenance liabilities etc); and normal statutory service receipts (electricity, telephone etc).

None of this will cost anything to put together, will be required anyway and will speed things up when a buyer is found. But should a seller go further and what else could be added to the pack to assist the marketing process?

One of the main concerns amongst buyers in Mallorca is the "legality" of a property, or any works that have been done to a property. If the property is new, has been built in the last 10 years, or has been subject to building works that have required Town Hall consent, it would clearly be sensible to include copies of such consents in the pack. Again not only will it demonstrate the seller's integrity but will, in many cases materially differentiate that property from many others on the market that either don't offer this information up front or plain can't because the appropriate consents are not in place! As with the earlier set of information recommended, providing documentation covering building works, be it consents and / or architects drawings etc, will not cost the seller anything it is information they will have already (or should have!)

Perhaps the biggest step for an owner to consider is whether they should invest in additional information, the key one being a survey. There is little doubt that a seller that can show a recent condition survey from a qualified professional, such as a Chartered Surveyor, will be providing prospective buyers with a great deal of confidence not only regarding the property they are looking at but, as importantly, the person (seller) they are dealing with. Even if the report is not assignable (ie transferable from seller to buyer so the latter can legally rely on it and have recourse to the report provider) the fact that the buyer can see that a professionally qualified and competent person has reported on such issues as the electrics, basic condition etc, will go a long way to giving the buyer enough confidence to proceed with an offer and, hopefully, purchase.

While the cost of any survey will depend on the complexity of the information requested, an RICS House Buyers Report (suitable for smaller and new properties) for example or full surveys will, depending on the size of property, cost in the order of 500� 2,000�, not a huge investment when one considers the value of most properties and the time that could be saved before a buyer is found. In a market that is relatively weak, as the current one, it is all the more important to put in place any proposals that could assist the marketing of a property and differentiate it from others on the market.

Will sellers support such an approach? Well informed will but in reality it will require the support and encouragement of the Estate Agency industry. While some good agents do assist buyers in this regard I won't hold my breath re a general trend in this direction!

Should you wish to discuss any aspects of marketing your property, would like to consider a survey prior to going to market, or are a buyer looking to be professionally represented, please do not hesitate to contact Novi Property Mallorca (www.novipropertymallorca.com) or Mallorca Real Estate Search (www.mallorcarealestatesearch.com).

David Novi BA MPhil MRICS

Inversiones Novi SL

A litlle about us...

Thu, 01 Jan 1970 00:00:00 +0100

Grupo Haviti Grupo Haviti is formed by the firms Haviti, Haviti2 and Medigeris, develops its activity in different geographic areas of Portugal and it has become known for its strong answering capacity to demands which stems from a changing activity.

Throughout its 15 years of activity, the group always had as mission the rendering of a quality service.

From this principle, spread to all working partners, stems its success in the real estate market. The experience acquired through these years signify an enormous trust which allow us to face the future with optimism.

About Bodrum

Thu, 01 Jan 1970 00:00:00 +0100

Bodrum, known in antiquity as Halicarnassus, is now a lively holiday resort. Nature and history embrace each other on the peninsula. Bodrum's castle (built by the Knights of St. John in the early 15th Century), site of the Mausoleum (one of the ancient Seven Wonders of the World), Museum of Underwater Archaeology, Amphitheater (The Mausolus started and finally finished by the Romans), and shopping centers and beaches.

The big hearted sponge divers, captains who are in love with sea, the fishermen, the white washed houses, the purple flowering bougainvillaea that climb the walls, the clean coves and most of all the long entertaining nights that stretch to dawn in the city.

Bodrum's fame, especially within Turkey is often associated with its nights, as every night during the season is an ecstatic fiesta. Many people enjoy the daytime pleasures of sun kissed beaches and carefree exploration and come back; but many come back, again and again, for Bodrum by night.

Bodrum is well known for its clubs and discos which present exotic floor shows with noted artists and latest hits. Dancing in Bodrum is not confined to their premises, frequently spilling into the streets.

Concerts in the historic Castle or the Amphitheatre or let music be from boats in bays under the stars make many Bodrum residents remember 'the good old days' with nostalgia. Those who long for the nocturnal scenes however can still find them in the vicinity of Bodrum's villages and towns.

Gumusluk retains a small scale, relaxed and magical atmospheree thanks to strictly enforced building prohibitions, designed to protect the ancient site. The charming flower bedecked houses follow the curve of a small and pretty bay. Gumusluk is the perfect antidote for modern day living, its a great place to unwind in an idyllic setting. The wonderful shelter of the bay provides a natural harbor for yachts and local fishing boats, the waterfront restaurants enjoy a reputation for excellent fresh fish amongst the Turks as far away as Istanbul. Gumusluk is famed amongst many famous Turkish actors, artists and musicians who frequent the bay during the summer months.

Rabbit Island separates the two well sheltered bays of Gumusluk and is accessible by a partially sunken causeway. The Island offers a magnificent panorama of the bay, a glimpse of the famous rabbits scurrying around and for those of you feeling more adventurous, great rock jumping from the many rock formations!

Yalikavak is a neat and tidy village with the most beautiful panorama of the whole peninsula. The natural bay is extraordinary and charming, 18 km from Bodrum,

Due to the increased interest in property in Yalikavak, the once sleepy fishing village is growing into a major centre on the peninsula whilst still retaining its charm. It now boosts three major supermarkets, local clinics (public and private) and a number of hotels open all year round offering cinema, jazz nights, yoga etc for both local residents and visitors. This part of the peninsula is also known for its clean air, crystal clear Turquoise waters and stunning sunsets.

A perfect marina complex operating throughout the year with all marina services available opened in Yalikavak two years ago.

Bodrum Peninsula & recommended beaches and places to visit..

The Bodrum Peninsula is an area of wonderful diversity, where the simplicity of the villages of the rural surrounding area jostles with the energy of the centre of Bodrum. There are still villages where traditional Turkish life goes on seemingly unaffected by the influence of tourism. Hidden along the Bodrum coastline, quiet and untouched backwaters with hidden bays, coves and aquamarine waters can still be found.

Kadikalesi is a small beachside village on the road to Turgutreis, with a small sandy beach, jetties and a few restaurants. Above the village stands a Greek church, over one hundred years old and in surprisingly good condition. Greek inscriptions are still visible above the doorway. The Avta centre featured on this site is situated here.

Turgutreis is a lively town, with good beaches, shops, marina and a market every Saturday that shouldnt be missed.

Fener Beach, situated near to Akyarlar has a fine sandy beach which is ideal for children. Fener Beach is also the best place for windsurfing and kitesurfing on the Bodrum peninsular.

Bitez is situated on the way to Bodrum. Bitez is backed by tangerine and olive groves, the sand and shingle beach is long with good facilities for a variety of water sports such as; sailing, windsurfing, waterskiing, wakeboarding and paracending

Low cost flights open up Madeira

Thu, 01 Jan 1970 00:00:00 +0100

Low cost flights are making foreign home owners in Madeira very happy indeed. Since the start of EasyJet's daily flights from Stansted and 3 weekly flights from Bristol, Flyglobespan has just started a weekly flight from Edinburgh, ThompsonFly from Manchester, Aer Lingus from Dublin, Sterling from Copenhagen and Prima Charter from Poland.
As unreal as it may sound, it is quicker and cheaper for someone living in London to get away for a weekend to Madeira than to get to the Lake District.
Thank you low costs!

Cosmopolitan Berlin The Real Investment Opportunity

Thu, 01 Jan 1970 00:00:00 +0100

With high quality city centre apartments starting at around �50k up to �120k (�75k �168k), Berlin is rapidly becoming one of the world's property investment hotspots and those early birds looking for the juiciest worms will find themselves some tasty treats.

Berlin Real Estate Centre, with its wide, practical experience of the country, this week announced the sale of apartments in the much sought after area of Prenzlauer Berg.

The 34 units, all modernised over several years, are close to historic Mauer Park, famous for its weekend flea market and hugely popular family picnics. A big shopping centre is nearby, alongside many schools and a kindergarten, making Behmstrasse a much sought after location by renting Berliners who want to be near the city centre action. Capital gain is conservatively put at 7 8%. "We're aware that many pundits are predicting 20% growth in Berlin, but we prefer to be cautious," said UK director, Trevor Hudson.

Investors benefit from a full service package during the period of the investment, from finance through to exit strategy, including rental income guarantee.

Berlin Real Estate Centre staff are happy to arrange inspection visits based on their years of local knowledge of the city. To find out more about the Berlin property market and receive details of investment opportunities, please fill out the form below. Find out more at:
www.berlinrealestatecentre.eu

Online Home Customization: Customize and Buy My Home The Way I Dream It

Thu, 01 Jan 1970 00:00:00 +0100

[b]Customize and Buy Home Configurator[/b]

From now on all our customers have the ability to use MANSIONs Home Configurators. These are very useful tools that let you actually see in 3D graphics the home you are interested in and configure all possible aspects of it. Whether its a part of the home structure or a decorative element you will be able to choose the one that suits your taste. You will be fascinated by the easy interface. Because in MANSION Property Development we strive to stick to our principles; the sophistication of simplicity!

You will notice the simplicity in our configurators from the first time you use them. All options in our Home Configurators work, respond and are situated in one particular manner due to consistency purposes.

On top you will find a characteristic picture of the home and next to that the price of it as it is shaped from your configurations so far. The main part of the Configurator follows the following standard format:

Over a thin grey line you see the general category of the customization options that follow. In bold black letters you will see the name of the specific category that you may configure. If you let your mouse hover over that category (i.e. Living Room Themes) a message to you will appear. If you click on the category name, a window will pop up in which details for this category and the differences between recommended options are clearly stated.

Under the category name you will see the recommended options. Some categories have an already checked option which cost is already included in the starting price. These are highlights we offer you as a standard. You see these gathered on top of the Configurator in a grey box under the title "starting price highlights".

Other categories do not have a pre checked option. You may want to choose the option that suits you or leave this category as by default checked to the option "None".

Additionally, there is "My home details" grey column in the right and every checked or blank option is appeared or disappeared respectively in that column in order to always know your chosen customization preferences, at a glance.

All options among which you may configure your future home have a full description and are accompanied by pictures. If you let your mouse hover over an option (i.e. under category "Tea Table" the option "Bonaldo Planet Light by Carollo") you will see a picture of the presented object and the amount of discount our customers get in relation to the starting price due to our strategic partnership. If you click on it you will see the picture enlarged, a full description of it, as also any information needed.

As you browse through the configurator via the scroll bar or the mouse wheel a window on the left side of the web page follows your moves. In that window a general description of the Home you are configuring and the price of it appears. While you may add options to your future Home the price is re calculated and the new price will appear in this moving window.

Additionally, the price is re calculated independently in each separate category in order to make your calculations easy and realize how a different option per category can affect the final price, at once.

MANSIONs executives strive to always include options in our Home Configurators that will suit any taste, mood and stylistic point of view. For that we have established strategic partnerships with companies that are innovative in their domain. Whether its classic, modern, Art Nuevo or minimal you will find an option that will amaze you.

It is a principle of MANSION Property Development to emphasize on value for money. Our customers are fully satisfied by that as they enjoy great price discounts due to our strategic partnerships bonuses.

In addition we pay great attention to letting the customer choose according to his taste among a great variety without setting boundaries to his choices. However there are cases in which a particular decorative option or a technique overwhelms us. These are choices that let us astonished, on a value for money level. You will see these options highlighted in light blue and after the name of the option you will see the word (Recommended).

It is obvious that MANSIONs Home Configurators constitute an innovation in the Property Development industry. But there are elements that you will not find anywhere else and that make us truly proud. So you may choose the kind of Warranty you want for your future Home. MANSION Property Development may offer up to a 6 year Premium Care Value Service. Except for that you also have the option to make your Home a Smart Home via all options technology has introduced to us. And finally there is the option to have your Home made an Accessible Home perfectly customized to your needs.

We are committed to continuously develop the Home Configurator toward a superb tool which makes full use of the Internet and that succeeds in its goal: To absolutely emphasize to the individual, to make our constructions fully customizable and make our company as extraverted as possible. What you see is what you get! The price you will see at the end of your customization and after pressing "Continue" at the end of the page is all inclusive with no surprising extras.

We hope you enjoy yourself during your tour through MANSIONs Home Configurators and do not hesitate to contact us any time for any observations.

[b]Visit My Home Configurator[/b]

[url=http://www.mansionpd.com/index.php?prop_dev2=478]1 bedroom suite Home Configurator[/url]

[url=http://www.mansionpd.com/index.php?prop_dev2=600]2 bedroom suite Home Configurator[/url]

[url=http://www.mansionpd.com/index.php?prop_dev2=639]2 bedroom extended suite Home Configurator[/url]

[url=http://www.mansionpd.com/index.php?prop_dev2=678]3 bedroom suite Home Configurator[/url]

[url=http://www.mansionpd.com/index.php?prop_dev2=716]4 bedroom suite Home Configurator[/url]

[url=http://www.mansionpd.com/index.php?prop_dev2=759]6 bedroom suite Home Configurator[/url]

[b]MANSION Property Development[/b]

INVESTORS TAKE NOTE 5 YEAR GUARANTEED RENTAL INCOME

Thu, 01 Jan 1970 00:00:00 +0100

5 YEAR RENTAL GUARANTEE OFFER INTEREST ONLY LOANS

Located in a secluded area in Kato Paphos, a select development comprising of 1 and 2 bedroom apartments with communal swimming pool.

Each apartment has it's own private parking and by the pool there are shower and changing facilities.

Only a short walk to all amenities and the beach this is an ideal situation for holiday makers and residence alike. Prices from 143,522 euros. Contact Christine@tsokkas.com

Hot Romania

Thu, 01 Jan 1970 00:00:00 +0100

All leading institutions are stating that Romania is the number one investment opportunity in the EU, and that this will continue for the foreseeable future. This has only been reinforced by the news that in January Romania has bcome a full member of the EU. 10 billion Euros will be invested from now until 2010. These monies are planned for agriculture and infrastructure ensuring that the price of your private and commercial real estate will be set to increase significantly.

Get it while its hot

Meteoric rise in buyers for property in Calabria Italys emerging new star

Thu, 01 Jan 1970 00:00:00 +0100

Meteoric rise in buyers for property in Calabria Italys emerging new star

The Italian province of Calabria is seeing an unprecedented level of interest from overseas buyers according to Real Estate specialist, Dennis Onstenk of InCalabria Ltd.

He cites the Capo Vaticano and Tropea region as being particularly attractive to overseas investors as, "Rental returns in the Summer are amongst the highest in the region."

With an established infrastructure already in place to meet the needs of holiday makers from Rome and Milan, the area boasts a range of leisure and sporting facilities, historic attractions and white sand beaches that would not look out of place in the Caribbean.

Add to this heady mix, the attraction of property prices that start from just �62,000 and the availability of more budget flights from the UK and its clear to see that Calabria is a star thats set to enjoy a meteoric rise.

Mr. Onstenk added, "Calabria has always been an undiscovered jewel, but it seems the secret is now out and more people than ever are discovering how affordable it can be to enjoy their own taste of la dolce vita."

Last week, the Telegraph stated that the growth of budget aviation was one of the main factors behind the regions' recent emergence as a hotspot for foreign property investors.

One particular development thats catching the eye of investors is Capo Verde di Parghelia, the first phase and front row of an exclusive mid sized development located between the popular coastal resorts of Parghelia and Zambrone.

Overlooking Zambrone and the beautiful Aeolian Islands including the volcanic island of Stromboli, this select development is less than ten minutes drive from Tropea, the Sunday Times Number 1 European Beach Destination, and only 45 minutes from Lamezia Terme International Airport.

Prices here start at less than �80,000 and the views from the stunning headland are "priceless" according to Mr. Onstenk. Further details are available at www.incalabria.com or by calling InCalabria Ltd on either 0800 011 2367 or (+44) (0) 1531 86 00 86.

ENDS
Note to Editors:

Italy has been named as the most popular holiday destination in Europe in a new poll of British tourists. .According to Saga, the country is the first choice of 14 per cent of holidaymakers, potentially making it a good option for overseas investors.

The broad appeal of Italy was further highlighted after it was named the preferred option for both 25 to 44 year olds and people aged above 55.

For further details please contact Samantha Cockerton. Tel: 01531 670599
or Email: sc_copywriter@hotmail.co.uk.

Website: www.Incalabria.com. Property Forum: www.calabriahomes.com

New Golf investment portal just launched

Thu, 01 Jan 1970 00:00:00 +0100

Golf Information Web site for the the best booming opportunities just launcehd and can be found on www.golfinbulgaria.com. Here you can find most valueable information regarding new hot golf destinations, new golf clubs opportunities, new residence availabilities, members of Golf associations etc.

Romania Exclussive vs. None Exclussive

Thu, 01 Jan 1970 00:00:00 +0100

Many Real Estate Agencies seem to feel the non exclusive contract is to their benefit. It allows them, after all, to work with other agencies and freelance all they want on their own with no connection to the agency they have the non exclusive contract with. For many, this may actually be a benefit. There is certainly nothing wrong with it and often times, for an agency, it is how they prefer to start out new investment opportunity. This creates a sort of "trial period" under which both the future property and the agency may evaluate one another's relationship together.
A Real Estate agency who intends to invest a great deal of time and money in you will want to ensure that their investment is protected. This is business, even when the agent and the presumed property are the dearest of friends. Bills must usually be paid and overhead costs met. A Real Estate Agency, quite honestly, has a hard time making ends if they are not working hard all day long, every day, seven days a week. The payoff, of course, is when you find and develop (or sign) a major property contract agreement. At that point, for instance, a 6% commission off a property sale is divided in two by both Real Estate agencies. Furthermore, the contract that pays off can make an agency very comfortable financially/contract based.

In a "non exclusive" contract, a future property investment is under less guidance and the agency may submit them, but generally is not breaking a major sweat to push them with a huge investment of time or resources. Just so this does not sound so bad, however, let me say that this does not imply the agency does not work hard for that property. A good agency will treat everyone equal and present all potential investment property opportunities to their potential clients, regardless of a signed contract type agreement.

In an "exclusive" contract, the agency has more control over decisions and in the meeting of specific ... read more >>> at: http://www.immobil4u.eu/exclussive.html

Romania Renting

Thu, 01 Jan 1970 00:00:00 +0100

Renting: Rental agreements in Romania are usually prepared by your real estate agent and are rarely notarized. Standard lease/rental it could be written in two languages Romanian and English. Contracts are relatively short, but the terms may vary, so please read carefully before you sign. In Bucharest the rental terms are usually standard starting from one year all the way to three five years if notarized. An early termination is easy. It requires only a one month notice to either the landlord or the tenant. Most landlords are individuals, and standard rental terms and conditions are favorable for a tenant. Landlords usually insist on a right to inspect the property on a regular basis; usually with a notification in advanced. Rent is always denominated in Euros and is usually paid monthly or quarterly. Longer down payments are made to reduce the monthly rent. Rental payment in cash is still very common. However, many landlords accept direct deposit in either Romanian or Euro account. One month rent security deposit is required by most of the landlords in Romania. However, we recommend ensuring that the rental contract allows you to apply it toward the last month rent as there is no procedure to assess damages nor outstanding bills and guarantee fair security deposit return.

Landlord's Paperwork: The peculiarity of the Romanian real estate legislation is not supported. So, the property ownership right and the right of rental use are completely separate. If you do not own the property, based on the registered Renting Contract you have the right to use it. The length of the flat is considered as temporary registration and it's indicated in the Renting Contract... read more >>> http://www.immobil4u.eu/en/R_T&C.html

Romania Investing

Thu, 01 Jan 1970 00:00:00 +0100

Investing: We offer a broad range of services in order to promote investment in Romanian real estate market. There are many opportunities in the current market that are quite exciting. With an overwhelming market growth, its hard not to be tempted to become an investor. However, when making a decision about how to invest in real estate in Romania, one has to consider both risks and opportunities of each property type available.
Immobil4u professionals will be happy to assist you throughout your whole investment cycle starting from identifying the right potential properties for you budget, acquiring all paperwork and manage your property and even manage your profits from renting and selling your property.

There are three basic options examples that we find most attractive for a potential investor in Romanian Real Estate:

Buy to Live: Use your housing allowance to buy an apartment in Romania instead of renting one. To do so, you can raise funds both outside the country and/or in Romania. Most expatriates, who can show sufficient income in Romania or abroad, are eligible for a number of mortgage/loans programs within Romanian borders or foreign banks (some restrictions may apply). Our current fiscal policy also encourages long term foreign real estate investment. The law makes no distinction between a Romanian citizen and an expatriate buying an estate. However, if youre foreigner the same rules apply except purchasing a land/lot/parcel. Our current legislation will prohibit foreigners to buy any land/lot/parcel with an exception of being conducting business in Romania.
Once you bough the property, the proceeds of selling the property... read more >>> http://www.immobil4u.eu/en/Invest.html

SPANISH PROPERTY BARGAINS

Thu, 01 Jan 1970 00:00:00 +0100

No matter what the survey, when it comes to buying property overseas, Spain is always there or thereabouts at the top of the chart. And so it is that Yorkshire Bank has announced 45 per cent of those adults who want to buy overseas name Spain as their best buy location.

Its stats like these that make me feel that Spanish property market is sure to bounce back. Maybe it is already. Kyero report that the bottom of the market on the main costas was reached at the end of last year and that sales are now rising.

More developers are feeling the pinch with overseas buyers holding back. But, there is a REAL property investment market to be acquired if you know where to look.

1st Call Property Services are head and shoulders above those who only preach. 1st Call Property Services delivers. Repossessions (Not Available to the General Public) Distressed Sales, 30% Below Bank Valuation Property throughout Spain.

For an up to date list please email 1stcallpropety@gmail.com

Buying French Property

Thu, 01 Jan 1970 00:00:00 +0100

There are many so called French property "consultants" based in the UK who are more than happy to help you achieve your dream of property ownership in France, however many of them are also very happy to lighten your wallet along the way.

French property sales to the British is now seriously big business and as with all industries that see a substantial growth in a short period of time, more players are tempted in to that market place to try get a "slice of the action".

Unfortunately for the opportunist player, getting established in France as an estate agent (Agent Immobilier) is a long and complicated process, as the industry is heavily regulated. Not just anyone is allowed to rent a shop, stick pictures of houses in the window and call themselves an estate agent. So for these players it is much easier to be based in the UK, away from the beady eyes of the French tax, social security and regulatory authorities and try and make it work for them that way.

After four years of substantial growth in the French property market we now see many British based businesses in the market place. Some claim to be French estate agents (Illegal unless they are a French business registered at the Prefecture as an immobilier); some want to charge you a huge consultancy fee (Not illegal, unless they ask for it after the seven days cooling off period has finished), and some even charge you to show you properties which is completely illegal in France but all the these players have one thing in common they have some or all of their business based in the UK. And why is this? Because if they were based in France they would more than likely be closed down.

So what can you, the French property hunter do to protect yourself from a lot of sharp practises within the industry?

The following occurrences should set off alarm bells:

Being asked to pay to register to receive property details
Being asked to pay to view properties
Being asked to pay any money to anyone before the 7 day cooling off period has finished
Being asked to meet an "agent" anywhere other than their office, e.g. in a car park
Being asked to pay a second fee on top of the normal French estate agency fee for services that a registered agent or Notaire would provide you as part of their normal service.

In short the only real way to protect yourself is to deal directly with a French registered Immobilier and best of all one who is a member of one of the two main trade bodies in France for estate agents, either FNAIM or SNPI. Only by dealing with a local registered immobilier are guaranteed to get a professional service for a fair fee.

Golf in Istria

Thu, 01 Jan 1970 00:00:00 +0100

Three locations have now got their permissions for starting golf courses. The sites at Motovun, Markocija and Lisnjan have all now received permission to commence construction and have had substantial funding injections. For property in the vicinity of all three see www.croatiapropertyservices.com

Buying a Bulgarian property, an insiders view

Thu, 01 Jan 1970 00:00:00 +0100

Bulgaria is a big country, despite what some sellers will say there are actually still plenty of properties around to buy at really good prices. Places still cheap include Razgrad and Dobrich which I happen to think are only long term investments, I think they are very poor areas often with not much going for them, not the sort of place where you want to leave an empty house, even empty I have had windows stolen, doors etc even from an empty house.

Although on Ebay some sellers say "Near the sea" you wouldnt exactly call 34 Miles from Brighton near the sea, besides the sea isnt everything and in Bulgaria winters dont help the coastal areas considering that temperatures in winter is similar to London in winter. On the note of the sea, note that there has been a barrage of oversubscriptions to new apartments and houses by the sea, so rentals may be hard because there is simply too many properties by the sea for rent Some developers are offering guaranteed rental, but these promises are rarely stood by. Buying plots by the sea is equally risky, with Natura 2000 allowing only certain parts to be built on; many speculators who bought land a while back are seething because what was once a development opportunity has now become pretty much a nature reserve. Prices are way huge beside the sea anyway, compared to the market price increases of inland property. Remember, Bulgaria is not Spain; Bulgaria is Bulgaria with its seasons, hot and cold. Nessebar is an exception to my rule, totally stunning, if you can buy there, buy.

In my view, Ski properties are good, but watch out because there have been some flouting of planning laws to get rich quick, so if you dont do your homework you may just see your dream holiday home getting pulled down before you can say resell. Buying near or in the "established" (Im saying established because these places havent got started yet, I recommend doing some homework and buying in or near these areas).

Although a big sprawl with little thought to planning and streetscape, I think central Sofia is a good investment right now. Given that it is the capital city of Bulgaria, its expanding airport and wealth concentration, I think its a safe bet, but be careful because prices are hiking quickly. There is some great architecture in Sofia, so if you can dodge the raging traffic, dont forget to go have a look. Buying in towns and villages around Sofia, especially to the West, may be a good idea, think Surrey to London.

Around cities like Veliko Tarnovo, Rousse and Vratza are a good buy. Make sure things are happening in the villages (New houses, renovations, flash cars etc) before buying there, otherwise take a long term view as your property value flourishes slowly.

Picturesque Vratza (Just over 70 Miles to the North East of Sofia) has the backdrop of the Vratza Balkan (Huge mountain range) and Leva River running to the front of the city.

Veliko Tarnovo with its amazing Tzarevetz Castle (Watch the famous light show) and Great River Yantra running through the city is a great city with a huge amount of things to do for everyone.
Rousse is the gateway between Romania and Bulgaria. In my opinion, Rousse is a hotcake of the future, along with Veliko Tarnovo (Which in my opinion is a better place to invest in)
Dont let the prices you see guide you to what the prices are and will be when you get to Bulgaria. Prices on EBay, on catalogues and anywhere else vary wildly, so there is no guide price etc for property in Bulgaria.

Quick tips:

Local prices are often different from so called tourist prices Dont look like a tourist and you minimise on paying like a tourist.

Dont make decisions on the spot, take your time. Buy what you like, in an area you like with the money you would like to spend Not the max you can

Remember Bulgaria is not cheap, its only cheap to us, so dont go saying "�5000, thats cheap" because the estate agent may just think you have loads more to spend and price the houses as he wishes.

When buying, see if there is a regional airport, while it may not be operational now or small, it may expand in the future; think Luton, Inverness and Stansted before they became international airports.

Make sure there are "things" around your village or town to make it an interesting place for renting or prospective future buyers, is there a mountain nearby, a ski range (Or future ski range)

Quick tips for buying Bulgarian property from Ebay:

Dont buy from anyone who has artificially increased their Ebay feedback buy buying and selling 1p Ebooks and the likes and if you do make sure you know they know their business.

Dont buy properties in useless areas, think "Feature, which makes the area interesting" and whether the area is attractive enough to stay in and not a deprived cesspit with a lovely house for sale nearby

Buy from companies, if you buy from an individual theres not much comeback

Demand an address and landline telephone for your records, if it cant be given you shouldnt be buying

Dont go with the hype, have a look yourself rather than be told how great an area is before being talking into buying a "Great house in a great place"

Pay money over only if you feel comfortable, if you suspect anything at all, think and stop until you know the whole deal!
The views above are from my own view, and in no way mirror the view of others, or any company.

Who to buy from:

Make sure you buy from a real company rather than individual, demand an address and real landline telephone number before doing business, remember its your savings you're giving away to a stranger

Make sure the company you are buying from has checked the properties deeds before you even give over a deposit.

Make sure the company or individual can give references; it may just be that the company hasnt actually sold before, and that you are the first test case!

Dont buy from someone who approaches you in a hotel or on the street, in fact anyone who approaches you at all.

Aaron Sneddon is director or Investment Link Limited property of Veliko Turnovo, is a Titanium Ebay Powerseller, is a trained and registered Ebay Education Professional, and regularly attends Ebay courses and events. His company has staff in Bulgaria and the UK.

Foreigner owning land in Bulgaria, the lowdown

Thu, 01 Jan 1970 00:00:00 +0100

As with many other countries, a foreign owned national cannot own land in Bulgaria, this presents a problem when one wants to buy a house in Bulgaria, which entered the European Union in January 2007.

Buildings and other similar assets can be owned in Bulgaria by foreign nationals, this means that if you were to buy and apartment and either the developer or owners association takes ownership of the land below your property, then you can legally own your apartment because it does not sit on the land.

Many people are buying property with land in Bulgaria, so how do they do it?

A foreign national can own a company in Bulgaria, a company is an entity in itself, and the good thing about a company is because it is an entity then it can be the "owner" or the "holder" of property. Because the foreigner (You) can own a company, you can put the property into your company (Lets call it a holding company, because its not a commercial trading one, rather it holds your property for you) and you will own the company, in essence because you own the company that holds the land (Yes, and the property that comes with it) then you are the ultimate owner of both the company and land.

How much does it cost to set up a company?

It costs approx �400 for the actual company formation (Check with the agent, the formation company or individual who is setting it up from you, in most cases the agent who is selling you the property will set the company up for you)
It costs around 3% of the total value of the property in notary fees and government purchase taxes (You can pay this in front of the notary)
Agents fee, this varies, we do not charge for this as it is absorbed in the property price, check with the agent before signing anything
What is involved in buying the Bulgarian property?

A bank account must be set up, you need to deposit about 5000 Bulgarian Levs into this to guarantee it This money remains yours at all times and can be withdrawn after the land purchase is completed
The articles of trading are drawn up to a standard pattern to allow you to operate within the current laws with as broad a spectrum as possible. This allows you to use the company to renovate and improve your property as you wish and also to buy other real estate through the same vehicle (Your company)
You can denote power of attorney, with powers only to
You will visit the notary, bank and possibly Lawyer whilst in Bulgaria.
It generally takes a maximum of 3 hours to complete the process of buying, although this may take longer given distances and other disturbances you may encounter.
Your agent should help you set the whole company up, once the company has been formed (You will probably be home by that time unless you spend about 30 days in Bulgaria) then the property will be placed by your agent into your company.
You will have to make sure your agent has the null returns submitted yearly for your "company"
Ask your agent about the Bulstat number also, this is an important document to keep, and must be obtained.

Another thing to think about is Power Of Attorney. Power of attorney (Or POA as we generally call it in the Bulgarian property business) is set up to allow certain rights to a trusted person (More often than not your agent) to undertake duties concerning your house on your behalf. Reasons for setting a POA is that you may be in the UK most of the time. Keep in mind that the duties that you specify (You can specify certain duties like buying property on your behalf etc) are generally the only duties that your POA will be allowed to undertake. Just as it is a bad thing to give too much rights (Your POA may flog off your house if he isnt really trustworthy!!!) you should probably give rights that you know you cant do yourself unless you plan on travelling to Bulgaria every 3 weeks or so. Your POA should be contactable easily in case of emergency e

Be aware, a common misconception is that property does not come with land in Bulgaria, this is wrong, it is only that a foreigner cannot own land in Bulgaria, nothing to do with the association of the house you buy and the land it sits on. If someone sells you a house in Bulgaria, unless the seller (Or the deeds) tells you otherwise, then you are buying a house with the land described.

I hope you have found this guide useful.

What to look for when buying an old Bulgarian property

Thu, 01 Jan 1970 00:00:00 +0100

When you are looking for a Bulgarian property, especially since distance buying at auction, you need to look closely at the photos to see if the house you are looking at is the one you really want.

Bulgarian properties were built without much planning in the past, generally they have been built by local (Often unskilled) tradesmen using traditional teqniques that are sometimes forbidden in todays cautious building world.

When looking at photos of houses at auction, check

The corners, the bottom of the walls, the top of the walls. Is there dark spots (Could indicate dampness), is there painted spots (Could indicate an attempt to "paint over" the dampness). Obviously there is dampness somewhere or another with older Bulgarian properties, but not in every room, you may as well live in a dirty sauna! If a whole houses has been painted, look carefully at what has been covered up, it could be large areas of dampness or cracks, at least if there are cracks you should see then to work out if they need sealed or pinned.
The roof. Is it slanted, is it not straight or bowed at some point? If a roof is not straight it may mean just bad design (Remember these houses were generally built with little or no actual physical plans) or it may mean that it could collapse because it is weak (Could be woodworm, weak joist etc) so this may cause issues in the future. As a general rule of thumb, we check the roofs are straight and even before selling to others, sometimes the roof is solid though and able to withstand some more years or rain, heat and cold.
Check the village in the background. Is there people, is there modern cars, do the houses around the house you are looking at look like they are well looked after? It depends what you are looking for, but you generally want a village which is vibrant (Or is aspiring to be vibrant) and that money (Or skills, or love...) are coming into the village.
The walls. Is there large cracks on the houses, if they have been painted you may not see them.
The floors. Many Bulgarian properties (Including many we sell) have compressed mud floors rather than plain old concrete or wood. Although traditional Bulgarians have been happy with these for years, you dont really want to put a new wall to wall carpet down on these. If a floor has mud on it instead of wood or concrete, then it may be necessary to dig out the mud and re lay the flooring, which actually isnt so expensive.
I hope you have found this guide useful. The views in this guide were written by myself (Aaron) and do not reflect the views of any website or individual other than myself.

Welcome to Adress Bansko, Bulgaria

Thu, 01 Jan 1970 00:00:00 +0100

Welcome to Adress Bansko, BulgariaAddress Real Estate is part of AG Capital www.agcapital.bg a holding company investing in businesses related to real estate. The holding is a major shareholder in companies that provide:

Brokerage and advisory services for residential and commercial properties.
Fiancial services related to real estate credit brokerage, appraisals
Asset management services in real estate Most of these companies rank among the top three in their respective business segment.

Address Real Estate the name of real estate.
Local Intelligence
The company focuses on the local knowledge of the property market and real estate trends. Our offices is independent to develop its own business plans and to focus on the area. Now, international investors are looking for real estate partners with local knowledge and experience.

Office Bansko:
1 Vazrajdane Sq.
Bansko, Bulgaria
tel.: +359 749 88 515; +359 885 82 49 08
e mail: bansko@address.bg

New Development Launch from ONLY �30,000

Thu, 01 Jan 1970 00:00:00 +0100

Platinum Developments are launching a new development in Bansko, Bulgaria. This will be an off plan 5 star development, this development will come with a rental guarantee and will be ready for 2010. This is ideal for investor or a 2nd home. Please find details below of the development or contact me richard@pdi.ie for a full brochure and information pack :

*New Release**New Release*

Studios / One and Two Bed Units from only �44,000

Be the first to own an impressive 5* secure gate development that will cater for resident owners and tourists upon completion in late 2010.

The development is located near the charming town of Bansko, Bulgarias leading ski resort and Europes most up and coming low cost ski resort. Crystal Springs Resort offers spectacular residential complex. Its design along with the beauty and serenity of the surrounding area provide for an extraordinarily indulging and all natural experience. The lovely residential complex with its modern SPA centre, 10x14 m indoor swimming pool, professional techno gym fitness centre and tennis court, is shaped to offer all seasons entertainments to its guests.

Residence Facilities

Crystal Springs Resort visitors will enjoy various leisure and entertainment on site facilities, creating their luxury residence in a serene mountain environment. Owners and visitors will benefit from the convenience of having open air tennis court, 10x14m indoor swimming pool, caf�bars, childrens activities, shops and restaurants all within the private grounds of the residence. The Resorts offers facilities and appliances for service
of disabled people in accordance with all the requirements.

Outdoor Activities

Ski and snowboarding, cross country skiing, hiking, climbing and mountain tourism, golfing, tennis, horseback riding, Nordic walking, fishing and rafting are some of the outdoor activities to be experienced while at Crystal Springs Resort. Situated right below the Pirin Mountain Crystal Springs Resort provides all of the benefits a national
park has to offer. The magnificent mountain peaks, green hills, sunny days and blue skies will charm any nature lover

Health & Wellness

Crystal Springs Resort has modern wellness and professional techo gym fitness centres, offering refreshing sports activities and extraordinary SPA services and massages. Visitors also enjoy a comfortable 10x14m indoor swimming pool. Crystal Springs Resort provides an incredible balance between recreational and leisure activities.

Stylish & Functional Furniture

The investors will have the option of purchasing a quality furniture pack. Prices for furniture packs start from �6000 for a one bed and �8000 for a two bedroom
apartments (incl. VAT).

The developers have selected designers who will furnish the interiors with functional and stylish furniture and fittings that will appear to a broad section of tenants. Designed with subtle flair and utilising quality materials, we expect this furniture design to be a long lasting and great value for money.
Close to the time of rough construction the furniture packs will be offered to our clients.
Clients will receive an itemised list and images of the furniture prior to purchasing their furniture pack.

So don't miss out on this amazing offer why not increase your portfolio for as little as �30,000 inspection trips throughout the year are priced at �150.

French property market ripe for investors

Thu, 01 Jan 1970 00:00:00 +0100

The French property market continues to grow, driven by local buyers and sustained interest from overseas investors, experts have stated.

The continued demand for properties has led to the French government putting forward plans to build an additional 500,000 homes over the next ten years, meaning that there will be plenty of opportunities for UK investors, according to the foreign property firm SPC Overseas.

"With the major shortage of new properties and the ongoing construction programmes to cater for this, coupled with a new president, the market is now ripe for investors," said the firms director Anthony Fernandes.

"The next ten years will see France play catch up to other European markets and investors can expect to see tremendous returns," he added.

The comments come as the research service Global Property Guide reported that transaction costs for buying a property in Europe are, on average, equivalent to 14.2 per cent of a homes value, though France, Belgium, Italy and Luxembourg all charge more than this.

� 7BestInvest Ltd 2007. www.7bestinvest.com

Now is the time to invest in the Costa del Sol

Thu, 01 Jan 1970 00:00:00 +0100

Forget Bulgaria, Morocco, Brazil, The Dominican Republic and all the other exotic places being touted as the places to invest in property. The Costa del Sol currently offers real value for money and genuine potential for capital growth in the medium term.

Spain has always been, and will continue to be, one of the most popular holiday and retirement locations in view of the political stability of the country and ease of access being a mere 2 to 2 � hour flight from many cities in Europe. In fact it has been easier and quicker to get to the Costa del Sol from the U.K. than from some other parts of Spain.

However, this is now about to change as new High Speed Rail links, due to commence by the end of this year, bring the cities of Madrid and Barcelona within easy reach of Malaga City, the gateway to the Costa del Sol, and will offer a genuine alternative to flying.

Starting on the 23rd December the AVE High Speed train will cover the journey from Madrid to Malaga in 2.5 hours and the link from Madrid to Barcelona which begins on the 21st December will mean that you will be able to travel to Malaga from Barcelona in 6 hours, including a one hour stop over in Madrid. This will be vast improvement on the current journey time of around 13.5 hours.

Adrian Head of New Ventures Spain said " we are already experiencing increased interest in properties from residents of these two major Spanish Cities as well as from Cordoba which will also benefit from the new rail links." Adrian added "although the train times are still longer than flight times by the time you consider the hours spent in airports for security checks, baggage collection on arrival and flight delays, the train is probably not any slower and will allow more luggage to be carried as well. And there are other factors. The rail link from Malaga along the Costa del Sol currently ends at Fuengirola. It is intended that this will be extended to Estepona providing easy access to all the resorts throughout the Costa del Sol either for visitors arriving by train to Malaga or flying to the airport where there is already a railway station."

Prices in the Costa del Sol have been falling and bargains are to be had. Adrian says " we can offer two bedroom apartments with two bathrooms on a complex with parking and community pools for as little as 175,000 euros (around 120,000 pounds) and we were recently offered a villa in a prime location valued at 1.9 million euros for just over 1million euros. These sorts of properties will not be around for long and with increased capacity at Malaga airport and new routes opening up, including direct flights to Moscow all year round starting at the end of October, we expect renewed interest from here as well."

The message is clear. If you want to invest in a safe proven market the Costa del Sol cannot be ignored but dont leave it too late or you may miss the boat or should that be the train!

A wide selection of properties throughout the Costa del Sol can be viewed on www.newventures spain.com Tel 0034 952 964 706 email newven@terra.es

New Select Development at Parcent, Costa Blanca

Thu, 01 Jan 1970 00:00:00 +0100

Exclusive Villas have been appointed by the highly regarded developer, Marina Villas, to market their new development of just 10 townhouses at Parcent.

These 3 bedroom houses have 3 bathrooms, a communal pool, and are set in a village location.

Prices start at 250000 euros and will be ready for occupation early 2008.

Luxurious Residency Surrounded by an 18 Hole Golf Course

Thu, 01 Jan 1970 00:00:00 +0100

If you are a passionate golfer and you want to purchase a holiday home, this building project is for you!

Residence in the Pays d'Albret, with Tuscany landscapes and Landes forests as far as the eye can see, situated 25kms from Agen (airport with daily flights to Paris and low cost airline company flights to the UK), 2hours from the Pyrenees and Spain and 90mins from the Atlantic coast.

Le Pays d'Albret, situated in the heart of one of France's most "gourmand" regions, has many tourist and leisure activities. We are offering you the chance to purchase your holiday home in a unique, luxurious residential complex, surrounded by an 18 hole golf course. You can choose from studio apartments to 2 bedroom split level apartments with direct access to the pool, fitness room and, of course, the golf course! One of the main features is the fact that there is potential for a wide range of clientele and thus guaranteeing an optimal rental income. You would be able to live in your apartment for a few weeks during the holidays and rent it out the rest of the time with the help of a specialised firm that offers + 4.33 % profit. We would be happy to send you the associated information upon request.

Prices range from 173,445 to 197,934 euros depending on the location.

The 1 and 2 bedroom apartments are fully equipped and have been designed in the great traditional style of the region. They are very luxurious and of quality architectural design.

To find out more about the off plan opportunities available in barbaste, clients are invited to log on to www.immobilier aquitaine.com

Is Turkey new Spain?

Thu, 01 Jan 1970 00:00:00 +0100

Just a short 4 hour flight away from the UK where the east meets the west is Turkey, a rare jewel indeed,; This country is rich in history, has a diverse culture and is fast becoming a major tourist destination attracting European and British visitors alike. Its wonderful climate, affordable living costs and the low property prices are luring many retirees and those seeking a new attractive destination where they can start a new life.

Graham Pyle explores the potential and prospect of Turkey becoming the "New Spain"

Speaker Profiles
Graham Pyle

The Managing director Graham Pyle was possibly the first UK estate agent to recognise the potential of the Florida property market, when in the mid 80s he commenced promotion of Florida real estate to British buyers.

His firsthand Florida property market experience has provided he and his team with the authority & knowledge to talk about all aspects of a typical non resident property purchase.

Fractional Ownership The Affordable Way to Own a Holiday Home Abroad

Thu, 01 Jan 1970 00:00:00 +0100

Fractional Ownership The Affordable Way to Own a Holiday Home Abroad

Spanish Quarters Fractional Ownership enables Deputy Head Teacher, Karen Yates, to purchase an affordable, fully furnished holiday home in her favourite part of Spain.

CHESHIRE, UK Deputy Head Teacher, Karen Yates, has
achieved her dream of owning an affordable holiday home with Spanish Quarters' fractional ownership.

Karen now owns a freehold quarter of a beautiful two bedroom, fully furnished apartment in Duquesa Village, Manilva, on the Costa Del Sol.

Karen comments I was looking for somewhere to buy that my husband and I could use during our holidays, in a part of the world we love. Duquesa Village is an ideal holiday home for our two children, aged 10 and 15; my son spends most of his days in the pool, whilst my daughter can pursue her interest in horses, with abundant riding facilities in the area.

I chose Duquesa as we had visited the area frequently in the past and became very fond of the stylish marina, sandy beaches and nearby lush golf courses. The appeal of the all year round good weather, accessibility from our local airport and the regular cheap flights were all contributing factors in our choice.

A particularly important consideration was that investing in this lovely property gives me a return for the future. Indeed, Disney is strongly tipped to develop an ecological park nearby, (similar to the Eden Project in Cornwall), which should come to fruition in the near future, and will ensure long term capital growth and enhance even further the rental potential of my property.'

Fractional ownership is already popular in the US and this trend is becoming increasingly popular in Southern Spain and Fuerteventura, thanks to recent features in the Daily Telegraph and BMI Voyager magazine. It allows people to own a fully furnished freehold property with 3 other co owners, each having 13 weeks usage per annum.

Karen continues: Another of the deciding factors in my purchase was the ability to offset my costs by using Spanish Quarters rental management service to rent out the weeks I am not using the property. With the busy lives we lead it is an added bonus, as we don't have the time to get involved in such time consuming rental management issues.

I found Spanish Quarters on the internet and it wasnt long before I was on a viewing trip to see the properties and the area for myself. I found the whole experience and the service from Spanish Quarters excellent, with no pressure to buy. It was my decision, in my time, and I felt that I was really well looked after during my viewing trip and throughout the purchase process.

A further reassurance was that I met all my co investors in the property something Spanish Quarters were keen to facilitate. My purchase was easy as I utilised the services of Spanish Quarters' independent legal, mortgage and currency partners, who assisted me through every stage of the buying process.

I have no hesitation in recommending Spanish Quarters fractional ownership to my friends and family. My brother and his business partner are currently in negotiation with Spanish Quarters, as they contemplate making a purchase too.'

Ends

Press Contact

Joanne Rowbotham
Spanish Quarters Limited
Joanne.rowbotham@spanish quarters.com
01625 444100

More information on Duquesa Village fractional ownership at www.spanish quarters.co.uk/devduquesavillage.html

Exclusive New Development in Catalunya

Thu, 01 Jan 1970 00:00:00 +0100

Nestling in the northeast of Spain, with the warm waters of the Mediterranean Sea gently lapping its coastline, is the region of Catalunya, generally known as being the business capital of Spain. Forget the over indulgencies, and high rise builds of the Costa Del Sol and the Costa Blanca, if you are serious about Spain, then Catalunya and its northern coastline, the Costa Brava, is the place to be.

Steeped in history and culture, Catalunya is today one of the property hot spots in Europe. With its central location, ideal for getting to all major European capitals, excellent high tech communication infrastructure, and superb all year round climate, serious investors are turning to this area for relocation purposes.

Exclusive Villas and Monde Propertys Exclusive Homes division, is registering record enquiries for its new flagship development of just 22 Traditional Farmhouse style homes situated just a few minutes from the coast at Calonge. All the infrastructure of roads and services is now complete, and we have been instructed to offer for sale the first two properties to be built.

Each one of these properties will stand on about 1 hectare (2 acres) of land, be individually designed, with major input from the client, in the natural stone farmhouse style. Every house will in fact be bespoke insofar as no two properties will be of the exact same design and size. Clients can choose the build size, and have a choice of most of the opulent interior fitments, including luxury sanitary ware, tiles and kitchen appliances.

Contact details:

Exclusive Villas 00 44 (0) 1243 855155

terry@exclusive villas.co.uk

E MARKETING WITH THE PERSONAL TOUCH

Thu, 01 Jan 1970 00:00:00 +0100

Launched this year by NI born, John & Paula Mc Ilroy who have extensive knowledge of the Southern Costa Blanca area having moved there in 2002,this marketing service is unique.

This Service is aimed at Owners and Renters of property on the Southern Costa Blanca who prefer the personal touch.

For Owners, there is a choice of E marketing and property management options. They meet with all the owners and discuss their personal property needs be it multilingual E marketing(see below) or more extensive services such as key holding, cleaning, pool maintenance etc.
There is no obligation to take our rental services, we work with your choice of management and you are free to use the property when you want, just let us know the dates.

Our No Booking , No Fee basis guarantees our commitment to ensure that each property is marketed to its full potential and that rental income is gained

This service is also open to Agents who dont have time to do this extensive marketing.

We offer you Special advertising rates to you on many major Vacation rental.coms representing significant savings on their screen prices.

Clients who wish to rent a property are also well catered for. All properties are inspected and the website has a detailed and truthful description of each property and its location.

Its not only the Holiday home rental, they can arrange all aspects of the holiday from airport transfers to car rental, travel insurance, airport hotels and parking, Villas on the north Costa Blanca and elsewhere throughout Spain with our hand picked partnerships with quality providers. All accessed directly from the website.
We are constantly working to find quality service providers to ensure that our owners and holidayers are getting value for money and quality service.

For Owners and Holidayers alike.....Check out the Website www.rentcostablancavilla.com for local knowledge on places to visit for adults and children, restaurants, essential Spanish, Spanish wines,advice on buying property, local taxes and much more.

Why Paros? Pearl of the Cyclades.

Thu, 01 Jan 1970 00:00:00 +0100

Paros is situated in the middle of the warm Aegean Sea in the heart of Greece. It belongs to the Cyclades islands group that consist of 39 islands of which 24 are inhabited. The more important ones (in alphabetical order) are the following:

Amorgos, Anafi, Andros, Delos, Ios, Kea, Kimolos, Folegandros, Milos, Mykonos, Naxos, Paros, Santorini, Serifos, Sikinos, Sifnos, Syros, Tinos.

Paros is the third biggest island after Naxos and Andros in the Cyclades with a coastline of about 120 km and around 13.000 inhabitants.

Why should you choose Paros island to buy a summer home or start a new life? We have collected the pros and contras for you.

Advantages:
 Paros have a very mild climate, you can swim in the sea from beginning of May until end of October so for basically half a year.
 A light breeze is constantly blowing that can be very pleasant on hot summer days.
 Paros is very easily accessible by aeroplane or by ship throughout Athens or Thessalonica even in the winter.
 The transportation is highly developed in Paros having 6 bus routes plus a city line in Parikia.
 Paros is a typical Greek Cycladic island, and making great effort to preserve its unique style.
 The island has a very international community with a high number of artists that find the nature and the architecture very inspiring.
 Paros is not a holiday island on the first place, you wont get hordes of tourists here.
 You will find its peaceful and quiet here, but if you are after some buzz Parikia and Naoussa are two cities with great nightlife.
 The water, the air is clear and you can only get healthy food: plenty of sea food, home made yoghurt, wild greens. Its a perfect place to rejuvenate.
 Paros is safe. You can leave your car open, put the key under the door mat and leave the kids to bicycle freely.
 Greeks speak languages on the island English, French and German but you will realise that learning a bit of Greek is good fun and will help getting by with the locals.
 Paros offers wide choice of housing for every need.

Disadvantages:
 The wind can be very strong especially in the wintertime.
 Lack of water. You have to water your garden and/or plant hardy trees that survive the drought, because there is very little rain in Paros and that usually falls from November until end of March.
 The public sector can be very burocratic (but where is it not?).

If you feel like checking out housing options on the island why don't you visit one of the largest constructor's web site:
http://www.greekvillaparos.com

Investors discover a Mediterranean Dream in Europes most popular holiday destination

Thu, 01 Jan 1970 00:00:00 +0100

Italy has been named as the most popular holiday destination in Europe in a new poll of British tourists. But that comes as no surprise to InCalabria Ltd property specialist, Dennis Onstenk.

According to Saga, the country is the first choice of 14 per cent of holidaymakers, potentially making it a good option for overseas investors.
The broad appeal of Italy was further highlighted after it was named the preferred option for both 25 to 44 year olds and people aged above 55.

Commenting on the findings, Dennis Onstenk said, "These results do not surprise me. This summer we have seen more and more British property buyers arrive in Calabria who have been attracted by our affordable property prices, increasing accessibility, beautiful climate and stunning scenery."

To meet the huge levels of interest shown in what is being billed as Europes very last property hotspot, the number of high quality off plan property opportunities available from InCalabria Ltd is increasing too.

In the highly desirable Capo Vaticano region for instance, investors are discovering their own Mediterranean Dream at Sogno Mediterraneo, a tranquil development of just ten one and two bedroom properties with views out to the Mediterranean Sea. With prices starting from around �62,000, a full Bank Guarantee in place and an attractive staged payment structure in place, its a dream that British investors have been quick to buy into.

Just ten minutes drive from Tropea, Europes Number One Beach Destination according to The Sunday Times, the company is set to launch another development called Capo Verde di Parghelia.

Set high up on a headland, overlooking Tropea, Zambrone, the Aeolian Islands and the Sant' Eufemia Bay, Capo Verde di Parghelia is the first phase and front row of an exclusive mid sized development located between the popular coastal resorts of Parghelia and Zambrone. A choice of one and two bedroom apartments and two luxury villas are due to be released shortly and Mr. Onstenk believes, "This area is poised for even further development making it a sound future investment. A new by pass to the beach and a range of upmarket hotels and resorts have all been built in the last few years."

This positive view comes shortly after Barclays stated that Italy was attracting considerable interest from Britons planning to invest in foreign property.

To find out more about the off plan opportunities available in Calabria, clients are invited to call InCalabria Ltd on their new FREEPHONE Number: 0800 011 2367 or log on to www.incalabria.com.

ENDS
___________________________
For further details please contact Samantha Cockerton. Tel: 01531 670599 (Mobile: 07968 819 649) or Email: sc_copywriter@hotmail.co.uk.
Website: www.Incalabria.com. Property Forum: www.calabriahomes.com

UKRAINES FIRST OFF PLAN SKI COMPLEX

Thu, 01 Jan 1970 00:00:00 +0100

The Ukraine is Europes newest property market,
attracting investors from all over the world with
its booming industry. Strategically located
between Western Europe and Russia, its economy
is flourishing with growth overtaking that of
Chinas in 04.

If youve missed the boat with countries such as
Bulgaria and Romania? Then the Ukraine is a fantastic t opportunity to get in at ground level in
one of the most dynamic Eastern European countries.
Attracting thousands of Russian, Ukrainian and
Polish tourists (among others) every year,
Slavsk Ski Resort is the most popular ski facility
in the country. Demand currently exceeds
supply and in peak season, a basic room with no
ensuite facilities can be up to 100 USD a night.
To reserve your apartment please contact STR Property Ltd on 02074075764 or email as at info@strproperty.co.uk

NEW OFF PLAN DEVELOPMENT TERMS.

Thu, 01 Jan 1970 00:00:00 +0100

As of today "Bulgarian Off Plan Estates" www.bgope.com dealers of property throughout Bulgaria, expanded its services to include new villas for private individuals, but offering the same easy payment terms that it currently offers toall of its business customers. Payment terms are now far more flexible and they have extended this to their building and legal services. "Offering such a flexible payment plan means that there has never been a better and easier time to buy property and land in Bulgaria" said the Managing Director Gerry Bartholomew. For more information on the company and what have to offer please visit the website, www.bgope.com

Property Investor Show Excel London

Thu, 01 Jan 1970 00:00:00 +0100

The Property Investor Show is now firmly established as the largest dedicated property investment event being held in the UK and, following its highly successful 2006 exhibition, returned to ExCeL London for a 6th year this September (21st 23rd).
The show was the dedicated property event for serious buyers and for Seven Continent Investment, it was a resounding success securing 5 6 new developments for our clients from around the globe.
These developments will be launched within 3 4 months once we have completed our stringent due diligence reports on the sites.

All of our clients we exceptionally happy to meet their portfolio consultants and the team and 7CI has already booked a 120sq m stand at the Homebuyer incorporating Property Investor Show at ExCel in March and a 120sq m stand at the Property Investor Show in September 2008.

Interior Centre Nessebar the newest project of Kimo Ltd.,Bulgaria

Thu, 01 Jan 1970 00:00:00 +0100

Kimo Ltd. would like to present our latest project Interior Centre Nessebar.
The purpose of this exceptional building is to combine the function of commercial and exhibition spaces, storage area and administrational purposes. Therefore, it is separated in two parts commercial and administrative, which can function at the same time and without interfering one anothers activities.
In terms of spatial composition the building will present two orthogonal prisms parallel one to another.
The commercial and exhibition spaces are designed with a spacious atrium which will be well illuminated due to the large roof and wall glazing. In the atrium there are an escalator and a panoramic lift serving the entire building.
The administrative part is completed in the modern office building style based on comfort and functionality and with an added touch of romance by the magnificent view towards the sea.
INTERIOR CENTER has a total built area of 6 000 square meters on 3255 sq.m. plot of land and consists of 6 floors 3 commercial, 2 administrative and 1 for storages. An outdoors parking with a total of 100 parking lots is provided.
There are a total of 15 stores and 14 offices.

The underground floor consists of a foyer, one supermarket situated at the front side of the building, storages for the other stores, elevator installation, 1 elevator and staircases.
Ground floor consists of a foyer, information desk, security point, a caf� bar, 8 boutique shops, terrace, WCs, an escalator, 1 elevator and staircases.
First floor consists of a foyer and 3 show room stores for terra cotta, faience, ceramics and bathroom furniture, WCs, 1 elevator and staircases.
Second floor consists of 3 show room stores specialized in home, office and hotel furniture, WCs, 1 elevator and staircases.
Third floor consists of a foyer, a meeting room, eleven offices, terraces, WCs, 1 elevator and staircases.
Fourth floor consists of a foyer and 3 offices each of which comprises 3 separate premises, WC and a terrace with a panoramic view.

Concisely,the aim of this project is to give every client the opportunity to find everything he needs for his home, office, hotel, restaurant and even garden in a unique setting based on comfort and high quality!

To good to be true, 15% discount on new properties in Turkey

Thu, 01 Jan 1970 00:00:00 +0100

Ovacik, is a small village of Fethiye District, Mugla Province of Turkey with little to offer but famous with its extended summer season alongside to its mountainous terrains which include the mountain Babadag (means Great Mountain in Turkish) the most favorite mountain in Turkey for para gliders.

Only for this week and before September 30th, you will enjoy of a 15% discount on any of the 23 units left on this four complex at the Ovacik Village in the Aegean Coast, Turkey.

This complexes have apartments of 1, 2 and 3 bedrooms with prices from �66523 to �99800, but if you put a refundable reservation of � 2000 before the end of September you will get this properties with a 15% discount off their prices.

For more information on this promotion call us on our UK freephone number 0800 996 1556 or visit our website http://www.ipropertynet.com and check references 20968,20969,20970 and 20971...

New Chances in Gazipasa/Turkish Riviera

Thu, 01 Jan 1970 00:00:00 +0100

After a long period of discussion and always renewed statements whether the airport in Gazipasa can be opened or not, now there is the result.
The company which is already managing Istanbul airport has got the rights for Gazipasa airport as well.
Work on the airport has already started and the airport will open soon, as they stated. (Aktuelle T�rkei Rundschau ATR)
What does it mean to real estate business?
Prices have already started climbing.

Take your chance.

OUTSTANDING ADVANTAGE IN NORTH CYPRUS

Thu, 01 Jan 1970 00:00:00 +0100

Palm group Special Announcement GBP 5k discount for 1st 10 buyers North Cyprus
Palm group are delighted to announce the introduction of Lapta Sky Blue Apartments in North Cyprus. The two double bedroom apartments are situated in the heart of the Lapta surrounded by amazing mountain and panoramic sea views. The apartments include:
a luxury fitted open plan kitchen with breakfast bar
lounge with access to huge balcony
family bathroom suite
air conditioning units in the lounge & master bedroom
double glazing, PVC windows and French balconies in the bedrooms
In addition, the first 10 buyers receive a GBP 5,000 discount.
Apartments start at GBP 36,900

We hope we help you find the property investment that is right for you.

Sub prime crisis sees investors look offshore

Thu, 01 Jan 1970 00:00:00 +0100

Given the recent turbulence in global equities as a result of the fallout from the credit storm affecting financial markets the relative appeal of the outperforming Paris property market is understandable. Added to this conviction is the current state of the US housing market, with the bubble bursting and the likelihood being for an extended period of weakness in the form of a housing recession, tighter credit and invariably a weaker consumer. Given such weakness it is little wonder that savvy investors are looking offshore for returns on their investments.

Paris property prices continue to increase at approximately 10 15% per year, depending on the district, and the last 5 years has seen a dramatic 60% increase in property prices. This trend is set to continue, strengthened by the Sarko effect. It is anticipated that the centre right politician, Nicolas Sarkozy, will strengthen Frances economy and property market, with France expected to become a much more property owner oriented country. The favourable borrowing terms and relatively low interest rates, among other factors, gives Paris strong investment potential. The interest rate cycle of Europe is now turning with the likelihood of just one further raise in interest rates this year to 4.25%, comparing favourably with the US 5.25% even with the likelihood of a cut in September in the States.

The ''Emerging Trends in Real Estate Europe 2007'' published by the Urban Land Institute (ULI) and PriceWaterhouseCoopers has identified Paris as the top real estate investment market in Europe. President of ULI Europe, Bill Kistler, commented ''Paris rates highly for both total return prospects and low risk, and thus its risk adjusted total return prospects were judged the best in Europe. Survey respondents pointed to the city's economic stability and sustainability, in addition to its status as a global gateway, as major reasons for its top ranking as an investment market. As a top market for the past several years, Paris still has good prospects for the next two years''.

Paris based property investment company, VPS Global, has seen a dramatic increase in foreigners investing in France. CEO, Pascal Morin, believes Paris offers exciting potential for investors. Given the current state of the world economy, investors are opting for more secure, stable and long term investment opportunities. Investing in France used to be a lifestyle choice. Today we are seeing more and more of our clients choosing France as a pure investment choice, purchasing with no intention for personal occupation.

Furthermore a quick comparison between returns from the French equity market and the property market paints a stark and damning picture. The CAC40 has returned just 1.75% year to date and given volatility its appeal to the risk averse investor is waning. Closer to home it wasnt too long ago that the DOW was hitting record highs however, with the sub prime mire lingering and likely to play itself out with volatility the uncertainty of global equities remains.
During these times of uncertainty investing abroad may just be the answer and where better to do so than in the worlds most visited city ?

CHAMPIONS REAL ESTATE ROMANIA

Thu, 01 Jan 1970 00:00:00 +0100

www.realestate consulting.eu

Real estate investment fund Eastern European Property Fund (EEPF), listed on the AIM market of the London Stock Exchange, intends to acquire three real estate properties in the Capital by the end of this year, with a total value of up to 20 million euros.

"We estimate that within the next three months, we will make another three acquisitions on the Romanian market, with a cumulated value of up to 20 million euros. Two of the projects are already completed buildings designed for retail purposes, and the third is a forward purchase for a logistics centre. All acquisitions will be made at yields of 9 to 10%," Oliver Cadogan, finance director of Active Property Investments Limited and a member of the investment committee of the EEPF

www.realestate consulting.eu

FAQ About Bulgaria

Thu, 01 Jan 1970 00:00:00 +0100

How do I travel to Bulgaria?
There are direct international flights from most UK airports available to Sofia and Varna all year round, with a number of airlines and direct charter flights to the Black Sea (Burgas) which are available during the spring and summer months, and Plovdiv during the winter. With the interest that has been shown in Bulgaria over the last couple of years, low cost airlines are expected to introduce regular scheduled flights there in the near future.

How long does it take to get there?
For the spring and summer always try first Bourgas and then Varna Airport. These are a short flight from most UK airports of only 2.5 hours. In the winter there are direct flights to Plovdiv and Sofia.

What is the weather like in Bulgaria?
We like to describe Bulgaria as very diverse with something for everyone to enjoy from ski resorts located in the beautiful Pirin, Rila and Rodopi Mountains , to the Black Sea Riviera in summer where temperatures match those of your perfect English summer's day from the months of May through to October. Perfect for the whole family to enjoy!!

What is the food like?
You will find restaurants with food to suit every taste, from gourmet cuisine, local dishes and fish specialities. You are unlikely to have to spend more than �7 per head on a 3 course meal with wine. There are a growing number of fast food chains such as McDonalds, pizza and family restaurants.

What is the currency?
The currency is the Lev which is now linked to the Euro. Most major transactions such as the purchasing property are carried out in Euros . Exchange rate: � 1 = 2.82 Levs (Jan '06).

Do they speak English?
The major resorts and developments welcome and embrace British Tourists with open arms and the majority of Bulgarians speak English as their second language.

Will I feel welcome in Bulgaria?
Britain is the major contributor to the booming tourist economy and English is the first foreign language spoken, so you will be very pleasantly surprised about the welcome and service offered to you by the Bulgarian people. They want you to keep coming back to their country, and believe me it shows!

Is it safe?
The crime rate is very low and statistics compare very favourably with all other European holiday destinations. Most visitors comment on how safe they felt at all times of the day in the resorts and all our apartments benefit from 24 Hour on site security.

What about sanitation?
Bulgaria is a modern European country, it has major cities and resorts where the facilities are as good as anywhere in Europe , yet not over developed.

Will my phone work in Bulgaria?
Yes, all mobile networks are supported.

What are property prices like in Bulgaria?
The property prices in Bulgaria are considerably lower than those elsewhere in Europe. A brand new apartment right on the sea front in a popular holiday town can currently be purchased for around �35,000 GBP with rural properties selling for even less than �7,000 GBP. Buying property in Bulgaria is also a great investment as prices are steadily increasing and are set to go up considerably when Bulgaria joins the EU.

What kinds of property are on the market?
We have a wide variety of properties available from seaside apartments to mountain chalets and country homes. We are also able to source individual properties and land via our bespoke property finders service.

Is it secure politically and what are the long term economic prospects?
Bulgaria ceased being a communist country in 1989, shortly after the fall of the Berlin Wall. Since then wide sweeping reforms have taken place. Already a full member of NATO, Bulgaria has been joined the EU in 2007. It is a fast growing market economy. The country is best known as a tourist destination for both summer and winter holiday makers and for its wine making. The European Union is currently investing millions of pounds to help improve Bulgaria's infrastructure (this is very visible on the Black Sea Coast where the main Coastal road is being widened and re surfaced to provide better access for the rapidly developing tourist industry. Since the introduction of the currency board in 1997 Bulgaria has been a politically stable country with a developing economy. The conditions and guarantees for foreign investors have generated excellent business opportunities and investment growth potential.

Why should I use British Developments to help me to buy a property in Bulgaria ?
We understand how important making the right decision is for all our customers when buying abroad. We consider no two clients to be the same. We endeavour to understand fully your needs, hopes and aspirations before using our local knowledge and expertise to help you make the right decision. We are firmly established in Bulgaria and we are confident in the prospects for property growth. We have invested considerably in our prestigious Burgas offices and recruited some of the most talented young professionals in the area. We believe in the team and they have a shared passion for seeing the success of their native country enhanced by the attraction of new investors and the increased prosperity they bring. We want your purchase to be informed, simple and enjoyable. Our job is simply to make the purchase of your new home the fun and enjoyable experience you would wish.

What is the law on foreigners owning property in Bulgaria?
"Foreign nationals and foreign legal entities may acquire ownership title over buildings and limited ownership rights over property in the Republic of Bulgaria. Foreign individuals cannot own land (this is a Constitutional prohibition until they join the EU). However, the Foreign Investment Law removed the restrictions on acquisition of land by locally registered companies with foreign participation. By setting up or joining a company incorporated under the Bulgarian legislation foreign persons can acquire full land ownership rights including ownership rights on agricultural land."

Do UK citizens need visas and how long can we stay?
British passport holders are automatically entitled to a month's stay in Bulgaria (free of charge). This period can then be extended locally. The Bulgarian Embassy in London will provide you with comprehensive information on visas and residency permits. You can contact them on 0207 584 9400 or visit their website www.bulgarianembassy.org.uk.

What about taxation?
Taxes for each property depend on its price. The combined State and local taxes will usually be equivalent to 2 % of the property purchase price.

Are mortgages available on Bulgarian Property?
Finance is not yet available to foreign nationals in Bulgaria. We do however have a range of finance schemes and mortgages available from UK lenders to assist you in purchasing your property. Please call us for further information.

How can I rent my property?
A number of the developments we offer come with guaranteed rental income and full management service. On all others we can arrange a rental agreement each year or a bespoke letting service. We also have a lettings management department that is able to assist with the management of your properties. Contact us for further information. If you are considering purchasing a property for pleasure or investment British Developments are able to help you through every step of the buying process. Purchasing a property in Bulgaria can feel daunting but with prices so low and the expectancy of prices rising in the near future, it can be an excellent way of either adding to your portfolio of investments or taking the plunge to purchase a property with a small outlay. Our office in Burgas is staffed with experience estate and letting agents who can liaise with our UK office to obtain properties that suit your individual requirements. Our staff has many years experience in dealing with investors and are only a telephone call away from discussing your individual requirement or queries. Please feel relaxed, we are able to organise your purchase from start to finish.
� Advice on the best possible areas
� Flights and collection from the Airport
� Hotel accommodation
� Car hire
� Free accompanied viewings with English speaking guides
� Our Lawyer will arrange the registration of a company to obtain ownership of land
� Currency exchange at excellent rates and the transfer of funds
� Finance, legal and tax advice
� Offices in Burgas and UK
� Advice on property whether it be a plot of land, an investment with a Bulgarian building company to produce a complex, buying off plan, a villa , apartment, hotel or commercial property
� We do not work exclusively with any one developer or agency and consequently offer an unbiased view of the Bulgarian property market
� And help with every process of the purchase
� Property insurance

Bulgarian Property Estate Agents

Velika Garden Villas

Thu, 01 Jan 1970 00:00:00 +0100

The Velika Villas putting Lozenets on the map for UK investors

Location, location, location. Its the first rule of buying property and the beautiful resort of Lozenets, on the southern Black Sea Coast, is everything a property investor could dream of. This idyllic location was chosen especially by Simply Bulgaria to build the Velika Garden Villas, offering impressive views and outstanding facilities for investors looking to enter into the exciting Bulgarian property market.
An established and popular holiday destination, Lozenets is yet undiscovered by large multi national developers, and is bursting with potential for capital gain and holiday rentals. If your idea of a holiday haven is high rise buildings and postage stamp apartments, the Velika Garden Villas are not for you. If, however, you can picture yourself relaxing on the balcony of your own luxury villa, enjoying the panoramic sea views, then look no further.
The Velika Garden Villas are a unique development of spacious, low rise villas, offering stunning panoramic sea views and facilities to rival those of a much larger complex. Owners can enjoy the large swimming pool, Jacuzzi, fitness suite and restaurant with rooftop terrace, safe in the knowledge that their villa is being managed by the Velika team, and is therefore hassle free, 365 days a year.
With 1, 2 and 3 bedroom villas available from just 62,480 Euros, this is an opportunity not to be missed call us to arrange a viewing trip and discover for yourself the charm of the Velika Garden Villas.

Bulgarian Accession in the EU

Thu, 01 Jan 1970 00:00:00 +0100

Bulgaria joined the European Union in the First of January 2007, and is on its way to turn into the Riviera on the Balkans. The improved economic conditions, political and social stability in Bulgaria over the last 3 years brought to a real boom of the prices of property in Bulgaria. Other important factor for the rising property market is the huge tourism potential in our country. There are great natural attractions high mountains, beautiful and clean Black Sea coast, preserved rural areas, minimum urbanization, thousands years of history, etc.
Nowadays Bulgaria is considered as the fastest growing tourism market in Europe. Summer tourists are attracted to the beautiful white beaches along the Black Sea coast and Bulgarias long hot summers. And winter tourists are drawn to Bulgarias stunning mountains and fast developing winter spots resorts.
Incredibly, Bulgaria is now the third most popular holiday destination after Spain and France for British holidaymakers. This is something that foreign buyers of property in Bulgaria appreciate the most. Together with the constantly rising prices, buying property in Bulgaria is one of the best investments that one can make these days with prices likely to increase with EU membership, as well as been a great retirement home.
The Bulgarian property market is among the cheapest in Europe, but is catching up. Last year prices rose by about 35 per cent, and in the lead up to EU accession in 2007 annual rises of 25 per cent are predicted. The increase in foreign investment is set to continue because of Bulgarias expected EU membership perspective and the constantly expanding tourist industry. All these factors add up to show exactly why the real estate market in Bulgaria is one of the strongest and most profitable property investment markets currently and why the growth is set to last.
Bulgaria has one of the most liberal foreign investment laws in the region. We would like to draw your attention to the land purchasing process. According to the Bulgarian Act on Foreign Investment; currently foreigners can buy buildings but not land. Therefore the most common method for foreigners is to set up a Ltd. company which then owns the land. Foreign investors are not put off by the fact that they are not legally permitted to own land in their own name they simply establish a Bulgarian company and purchase through that. As the legal owner of the Bulgarian company which owns the property the foreign purchaser becomes the legal owner of the property! It is simply a legal way around the current law on property ownership rights. The law does not limit the extent or amount of foreign participation in companies. Foreign individuals and companies can open unlimited number of accounts in any Bulgarian banks, in any hard currency or the local Bulgarian Levs.
Today Bulgaria not only offers one of Europes most attractive and unspoilt holiday destinations it is also host to what will be one of the most dynamic and as of yet relatively untapped property and real estate markets. Anyone hoping to retire overseas on a budget should look to Bulgaria. Buying overseas can be an exciting and profitable experience by taking your time to understand the buying process you will ensure that your property purchase in Bulgaria is a happy and enjoyable experience.

Bulgarian Property Estate Agents

Guaranteed 25% Annual Return for New Property Investment Opportunity from Seven Continent Investment

Thu, 01 Jan 1970 00:00:00 +0100

Seven Continent Investment (7Ci) has launched a range of financial instruments, including the 25% Guaranteed Return, offering a high yield, low risk property investment vehicle.

The investor provides private financing to the Development Company in return for guaranteed returns of 25% in the first year, payable as 6.25% of the amount investment sum per quarter.

The 25% Guaranteed Return is designed to appeal to those who wish to benefit from emerging markets, but do not want to have all the responsibility of finding a property, maintenance and management, and resell to make a profit.

Development companies often encounter financing delays and difficulties when operating in emerging market countries particularly in the early stages of a construction project. The cost of borrowing can be extremely high, or may simply be unavailable, even where financial institutions are willing to make the loan.

The Agreement secures investors money against land or property, free of debts and confirmed by an independent valuer to be worth 100% of the sums held.

The land or property is put in the sole hands of leading UK overseas property solicitors, ILP, who hold the security in escrow, i.e. on certain conditions.

"Were particularly excited to be able to launch this product at a time when confidence in stock markets has been shaken," says Alistair Powell, Managing Director of 7Ci. "Not only are we able to offer substantial guaranteed returns, this is can also be viewed as a short term product, from just 12 months commitment of the capital sum.

"7Ci has a strong track record of successful investments in developing markets," continues Alistair. "More than just following the trends, its about being the ones to spot them first. We know that obtaining financing in emerging market countries can be a lengthy process. By providing the financing through 7Ci Financial Instruments, the developer is provided with timely financing to start construction in a timely manner, and the investor is able to start reaping the financial rewards, even prior to completion."

Nagpur airport handover: HC seeks timetable from Ministry in a week

Thu, 01 Jan 1970 00:00:00 +0100

Nagpur airport handover: HC seeks timetable from Ministry in a week

VIVEK DESHPANDE a road terminus at the MIHAN site with Sical Logistics.
Earlier this month, the MoCA had sought six more months for the proposed airport handover � it should have happened before June 15 as per the agreement with the Maharashtra government. Civil Aviation Minister Praful Patel has been maintaining a stiff position on the handover issue, saying he can't do it without land being available for airport development. The government is yet to get the land adjoining the existing airport from the Air Force which has its base there.
The agreement signed in December 2006 has it that the Maharashtra Airport Development Corporation (MADC), the special purpose vehicle implementing MIHAN, and the Airports Authority of India (AAI) would form a joint venture company (JVC) to run the Nagpur international airport after the handover. It stipulates no condition that Patel is now putting forward.
In another positive development, DLF will formally start the work of their pro posed I T park in the MIHAN SEZ, on Wednesday. Recently, a stir by project evacuees at Shivangaon village had cast a shadow on the project. Almost all major IT companies have purchased land in the SEZ.
Addressing mediapersons here, MADC Managing Director R C Sinha said he was optimistic about the airport handover. "The Chief Minister, who is MADC Chairman, has called a meeting with Civil Aviation Minister on August 25.I am hopeful about a favourable outcome," he said.
NAGPUR, AUGUST 21
NAGPUR's Multi modal Hub Airport at Nagpur (MI HAN) project has received a major boost with two positive developments�the High Court telling the Civil Aviation Ministry (MoCA) on Monday to give a clear cut time table for airport handover in a week, and infrastructure major DLF scheduling foundation laying of their 140 acre IT park on Wednesday.
Also, an agreement will be signed on Wednesday for

Buying property in Turkey

Thu, 01 Jan 1970 00:00:00 +0100

Buying property in Turkey as a foreigner
More and more foreigners are interested in buying property in Turkey. In 2006 around 50,000 purchases from foreigners have been taking place.If you prefer buying a property at a very reasonable price which you can use yourself for regular holidays and that you can also rent out to get some income in a country where the summer is nice and long, stretching from March to November, and there are many tourism attractions, then Turkey is the most appropriate destination for you.

Who can buy property in Turkey?
Turkey has a reciprocal agreement for the purchase of land and property with many countries. This means that the people of these nations that allow Turks to buy land in their countries, can in return, buy land in Turkey. Foreigners may purchase in their own name if the property is outside military zones. Based on these agreements foreigners of the following countries are eligible.

List of reciproral countries
Andorra, Argentina, Australia, Austria, Bahamas, Bahrein, Bangladesh, Barbados, Belgium, Belize, Benin, Bolivia, Bosnia Herzogovina, Botswana, Brazil, Cameroon, Canada, Cape Verde, Central African Republic, Chile, Colombia, Costa Rica, Cote D'ivoire, Croatia, Denmark, Dominic Republic, Ecuador, El Salvador, England, Estonia, Finland, France, Gabon, Germany, Ghana, Guinea, Grenada, Guetamala, Guyana, Haiti, Honduras, Hungary, Ireland, Israel, Italy, Jamaica, Japan, Korea, Latvia, Liechtenstein,Lithuania, Luxembourg, Malawi, Malaysia, Mali, Malta, Mauritania, Mauritius, Mexico, Monaco, Mozambique, The Netherlands, New Zealand, Nicaragua, Nigeria, Norway, Panama, Paraguay, Peru, Philippines, Poland, Portugal, San Marino, Senegal, Serbia Montenegro, Singapore, Somalia, South Africa, Spain, Sweden, Switzerland, Tanzania, Turkish Republic of Northern Cyprus, United States of America, Uruguay and Venezuela.

Some countries does not allow Turkish citizens to purchase a property in their land. That is why, the citizens of these kind of countries are not allowed to buy in Turkey except some countries as Russia. Citizens of Russia can buy with special permission of the Ministry of Internal Affairs (Icisleri Bakanligi).

My country is not listed above. Can I buy property in Turkey?
If your country is not in the reciprocity list, Antalya Homes Real Estate has a solution for you. We establish a Limited Company on you in a day. Becouse companies can freely acquire real estate. It costs you about � 1.200. We experienced that several times with our Iranian and Saudi Arabian customers.

Forbidden regions and Military zones
No matter where the land or the house may be situated if the buyer is a foreign person, the deed office has to officially ask the prior approval or permission of the highest military command of the area before transferring the title (Approval of the ministry of Defense: Savunma Bakanliği). The duration of the request for permission is estimated on 30 60 days. The reasons for this are to ensure that foreign buyers will not acquire a property within military zones. No land or property within forbidden regions and safety regions can be sold, transferred or rented.

Can foreigners loan money in Turkey?
Antalya Homes Estate Agency in partnership with selected construction companies are now in a position to offer an exciting and unique financial product to our clients in cooperation with Deniz Bank. A 50% LTV (Loan to Value) fixed rate mortgage at 5% over a 10 year repayment period. You are planning to buy a property (apartment or villa) and need a mortgage?; we offer you financial solutions in Turkey.

If you want get more information and properties to let, you may visit http://www.antalyahomes.com/ as a good resource.

Welcome in Midi Pyreneas! Welcome by Abafim!

Thu, 01 Jan 1970 00:00:00 +0100

Abafim is an independent estate agency, which was established in 1950, in Tarbes at the foot of the Pyr�nean mountains. It is particularly well situated, being at the junction of Biarritz Toulouse and the Gers Spain and 1 hour from the ski slopes and the Atlantic.
The area is favoured with an exceptional micro climate, with above average sunshine, and sheltered from the extremes of nature such as flooding and tempests. Have a wander around our website you will find it to be quick, and the user friendly search engine enables you to search our database of more than 1700 properties under many criteria.

MyPropertyForSale.co.uk now selling property in Europe

Thu, 01 Jan 1970 00:00:00 +0100

Top UK private house sales website www.mypropertyforsale.co.uk has now been expanded to allow private sellers from all over Europe to list their property for a one off fee of 148Euros.

The company has been selling property privately throughout the whole of the UK since 2001 and has recently been approached by many sellers wishing to get their overseas properties listed.

Weakening dollar

Thu, 01 Jan 1970 00:00:00 +0100

With the dollar falling to a record low against the Euro, amid concerns of weaknesses in the US sub prime mortgage market, it appears the dollar could continue to fall in the coming years against the Euro. The VIX index, the US markets barometer of volatility (sometimes known as Wall Streets fear gauge), has reached its highest in four years.

One aspect the experts agree on, the dollar is not going to get any stronger. With the current climate in the US, now is perhaps the time to consider alternatives such as investing abroad.

Paris property prices continue to increase at approximately 10 15% per year, depending on the district, and the last 5 years has seen a dramatic 60% increase in property prices. This trend is set to continue, strengthened by the Sarko effect. It is anticipated that the centre right politician, Nicolas Sarkozy, will strengthen Frances economy and property market, with France expected to become a much more property owner oriented country. The favourable borrowing terms and relatively low interest rates, among other factors, gives Paris strong investment potential.

The ''Emerging Trends in Real Estate Europe 2007'' published by the Urban Land Institute (ULI) and PriceWaterhouseCoopers has identified Paris as the top real estate investment market in Europe. President of ULI Europe, Bill Kistler, commented ''Paris rates highly for both total return prospects and low risk, and thus its risk adjusted total return prospects were judged the best in Europe. Survey respondents pointed to the city's economic stability and sustainability, in addition to its status as a global gateway, as major reasons for its top ranking as an investment market. As a top market for the past several years, Paris still has good prospects for the next two years''.

Paris based property investment company, VPS Global, has seen a dramatic increase in foreigners investing in France. CEO, Pascal Morin, believes Paris offers exciting potential for investors. Given the current state of the world economy, investors are opting for more secure, stable and long term investment opportunities. Investing in France use to be a lifestyle choice. Today we are seeing more and more of our clients choosing France as a pure investment choice, purchasing with no intention for personal occupation.

Of course the weakness in the dollar decreases buying power abroad, it is worth considering though whether this can be off set by tax free rental return, paid in Euros.

Investing abroad may just be the answer and where better to do it than in the worlds most visited city.

Investing in properties in Poland

Thu, 01 Jan 1970 00:00:00 +0100

Poland is a very promising market and real estate is the most profitable business nowadays. After joining the UE in May 2004 the real estate prices in the biggest cities (e.g. Warsaw) in Poland has started its pace from the ridiculous values towards the European levels and many foreign investors (on every scale) have noticed a great opportunity to invest the surpluses especially in the newly build projects which are currently under construction in order to gain a good profit when the projects are completed by selling with high margin or letting apartments for rent.

The obvious reason making this business having sense is that the price level has still a great potential to develop (estimates promise at least 20 30% increase this year). Additionally there are very few newly build properties in the good locations close to the city centres and the demand for them is increasing all the time.

A good example to choose from:

WARSAW, OLD MOKOT�W DISTRICT, RAKOWIECKA ST, 2 rooms, 52,5 m2

City Warsaw
Region Poland
Project type Residential apartments
Address Rakowiecka 32 street, Warsaw
Construction start 03 / 2007
Completion / Delivery 08 / 2008

The project Casa Verde is currently in development with a completion date August/September 2008. Situated away from the bustling streets, yet close to the city centre, thanks to convenient public transport options, the location inspired the architects to design a unique apartment building emphasising modern and functional architecture. The building will feature architectural details to match its charming environment.
By dividing the building into nine story and six story sections the structure offers lightness and architectural diversity. Meticulously selected building and finishing materials, soft colours and elegant facades also contribute to CasaVerdes exceptional character.

Safety and comfort have also been taken into consideration. CasaVerde will be a fenced and guarded housing estate with a landscaped yard featuring a playground and recreation area and an underground garage.

The apartment will have 2 rooms (or can be converted to a 1 room studio (52,5sqm) and is situated on a ground floor. There is a 30,9 sqm tarras with a little garden attached. It consists of a living room with an open kitchen (26,2m2), sleeping room (10,8m2) and a separate wardrobe (5sqm). A parking space under the building is also included.

The apartment is located in the Mokotow district prestigious location of Warsaw, the neighbourhood is a seat to many foreign embassies and companies. The place is very well communicated (5 minutes to the city centre by Underground, 10 minutes by means of tram, lots of busses in all directions). The building is placed ca. 150 meters from the underground station "Pole Mokotowskie". The property is hidden between the streets of Rakowiecka and Bruna and is in close proximity to Pola Mokotowskie a popular park and a walking area for many people in Warsaw. The Park itself is is located in between the areas of Mokot�w and the city centre, the park is currently one of the biggest in Warsaw. Until World War II major part of the park was occupied by an airfield and Warsaw University of Technology aircraft works. Pole Mokotowskie was also the seat of Warsaw Airport (until 1934) and Warsaw Horse Racing Track (until 1939). Currently the place is famous for its bars and pubs as well as for Polish National Library located there. The Warsaw Metro station, named Pole Mokotowskie, located just south of the park (150 meters from the apartment).

PRICE: 700,000 PLN consists of 380,000 PLN (to be paid now in order to become the owner of a direct contract with the construction company) + 320,000 PLN (due to the completion date 08 09/2008 paid in any form within the construction progress).

For more details please contact:
+48 601 244 221
is02peto@yahoo

Porte du soleil first ski closure's

Thu, 01 Jan 1970 00:00:00 +0100

Abondance abandons skiing
The news has sent shockwaves through the Haute Savoie. The local council at Abondance has voted to close the ski lifts. The ski resort has been loss making for the last 15 years. The local council tried desperately to find a buyer before the start of the season but was forced to run the lifts over the winter. This years poor snow was the final nail in the coffin. Requiring over half a million euros in investments the end has none the less brought strong reactions from the 1400 local residents and businesses.

Abondance is just one of twenty ski resorts in the Haute Savoie that are apparently teetering on the abyss. The winter saw little snow below 2000 meters and temperatures 3 to 3.5C above average. A report by the OECD (Organisation for Economic Co operation and Development) suggests that the number of ski resorts in the department will decrease from 37 to just 18 under such conditions.

(credit it la dauphine)

Paris announced as top real estate investment market in Europe

Thu, 01 Jan 1970 00:00:00 +0100

Paris announced as top real estate investment market in Europe

The ''Emerging Trends in Real Estate Europe 2007'' published by the Urban Land Institute (ULI) and PriceWaterhouseCoopers has identified Paris as the top real estate investment market in Europe.

President of ULI Europe, Bill Kistler, commented ''Paris rates highly for both total return prospects and low risk, and thus its risk adjusted total return prospects were judged the best in Europe. Survey respondents pointed to the city's economic stability and sustainability, in addition to its status as a global gateway, as major reasons for its top ranking as an investment market...As a top market for the past several years, Paris still has good prospects for the next two years''.

VPS Global is a group of property investment advisers and consultants who specialise in delivering a variety of tailored investment (VPS Invest), residential (VPS Residential), financial (VPS Finance) and rental (VPS Rental) solutions.

The VPS Residential management service, designed to cater to the huge demand of foreigners wishing to purchase an apartment in Paris to live in for weeks or months at a time, offers a first class management service.

VPS Residential manages their clients apartments on a short term rental basis. This allows for :

*the flexibility to stay in their Parisian apartment as and when desired

*take advantage of considerably higher returns when they are not occupying their apartment

*benefit from on site management, piece of mind and a hassle free investment in the worlds most visited city.

CONTACT VPS:
Head Office: 15 rue de l'Arsenal, 75004. Paris, France.
TEL: +33 (0)1 44 59 90 90 FAX: +33(0)1 42 77 93 12
EMAIL: contact@vps global.com

Harmony Homes Bodrum

Thu, 01 Jan 1970 00:00:00 +0100

Harmony Homes have been building in the Bodrum peninsula since 1998 meeting the needs and requirements of locals, investors and holiday makers alike. We have 7 previously completed communities, an additoinal 2 which are ready to move into now and are currently developing a further 4 projects. We have now built over 400 properties in the Bodrum peninsula. Harmony Homes Bodrum is a progressive organisation with a modern outlook: working with nature to preserve the natural vegetation within our projects, providing high quality traditional stonework and beautiful landscaping. We pay special attention to European standards and provide a personal service so each customer has the home they have always dreamed of.

No one knows Bodrum like Harmony Homes

We are currently developing, constructing and selling 6 projects, this changes on a regular basis as we buy new land, complete and sell existing projects. We offer completed, off plan and projects at various stages of construction. Our developments appeal to a cross section of buyers and investors who may be looking for 1 bed apartments to villas with private pools or a selection of all of our products. Our clients like you, are investors, holiday home buyers, customers who are looking for rental income or retirement and relocation owners.

Let us help you find your place in the sun!

Come and visit us on an inspection trip! Our Head Office is a detached office block, where if you wish, you can speak with our architects, planning or projects department who will be happy to answer your more detailed questions. We have nothing to hide; our friendly, professional, experienced personnel will work with you to find your perfect Harmony Home.

We look forward to welcoming you to Bodrum in Turkey. We will transport you to our impressive developments; introducing you to the food, culture, history and the everyday necessity shops you will need. We will assist you in easing in to a Turkish lifestyle and finally we will make sure your many questions are answered

Our customer base is extensive; American, Belgian, Danish, Dutch, English, Finish, French, German, Irish, Italian, Nigerian, Norwegian, Russian, Scottish and Turkish. As we have so many over seas visitors to our shores, our chairman has a vision to work with our foreign neighbours in joint ventures projects, so we may have a better understanding of their/your standards and expectations.

We offer flexible investor packages, joint venture opportunities, stage payment structures and guaranteed rental income.

Our After Sales Team will look after you all the way through the purchase process and after from:

Obtaining your tax ID Deed registration

Legal advice Opening your bank accounts

Power of attorney Habitation certificate

Notary Military permission

Translation Tapu (deeds)

Property management Furniture & accessory packages

Rentals

When you buy a Harmony Homes property there are no hidden costs.

We will provide you with a printed list of all additional costs; in many cases Harmony Homes will pay 100% of your costs; in other instances we split the cost 50/50.

Mortgage for foreigners in Turkey !

Thu, 01 Jan 1970 00:00:00 +0100

Good news for all foreigners that want to buy property in Turkey!

It is now possible to obtain a mortgage for foreigners in Turkey.
Buying a second home in Turkey is a great decision that will bring you a lot of pleasure and joy. Getting to that point is not always easy. Foreigners can face different procedures regarding payment and legal obligations.

We are a trustworthy company that only wants the very best for her customers. Therefor, we only work with the best and most experienced bank. This bank operates within the Dexia Group, a prominent European financial group and the worldleader in public finances.

This bank offers the following mortgage:

* Maximum lenght of 20 years
* Euro interest rate: 0,65 % (at 26/07/07)
* Dollar interest rate: 0,70 % (at 26/07/07)
* Maximum mortgage amount is 65 % of the buying price of the property

Most important required documents from the applicant:

* Income statement of the employer, signed by the employer
* Bank statement declaring the income (not older than 3 months)
* Overview of monthly financial obligations (loan installments, rent)
* Overview of private debts
* Official tax statement of the most recent year in the home country
* Copy of passport

For more detailed requirements and information, feel free to contact us without any obligation !

Team IEC Real Estate
Kalan Sokak 20/A
07400 Alanya
TURKEY

info@iecestates.com
www.iecestates.com

tel: +90 242 511 6263
fax: +90 242 511 5207
gsm: +90 535 819 8014

SPANISH PROPERTY MARKET CRASH?

Thu, 01 Jan 1970 00:00:00 +0100

The Spanish Property Market Crash?

If you are trying to sell your property, you have to read this.

Despite some hysterical reporting, especially in the British media. The Daily Mail and I.T.Vs Trevor McDonalds Tonight program. The Spanish property market has not crashed.

While there is no doubt that the property boom has come to an end the Spanish economy continues to grow, increasing by 4% in the first quarter of this year with the Madrid stock market hitting new levels in June.

Additionally there are a significant number of reports from those in know to suggest that Spain is facing an economic slowdown but avoiding a crisis.

No one can question the fact that there has been a considerable slow down in property sales. Last year recorded property transactions fell by 9.8% throughout Spain and this year there is expected to be a further 10% fall.

The worst hit sector is costal holiday properties where sales have fallen by almost 50% due to high prices and increasing competition from the "new" overseas markets such as Morocco and Bulgaria.

What is staggering is that oversupply of properties is continuing, it is anticipated that 50,000 more homes will be built than sold this year. This has produced a lengthening of the time taken to sell a property from 2004's average of 12 months to 20 months (and increasing). A property is only worth what clients are prepared to pay for it. Owners must and have recently started to drop their prices.

Prices are falling in many areas, both on the coast and in the major cities, although Spanish government figures still show an increase. One very large property developer has forecast that demand for new homes will fall from the 700,000 per annum of recent years to half that figure!!

This reduction in demand is expected to reduce coastal prices by around 5 to 8%, with stagnating prices in the next few years, consolidating the property sector and squeezing out the speculators, amateurs and small developers.
Despite these short term worries some of Spain's larger banks, BBVA and Bankinter are more optimistic in their outlook anticipating increases in property prices in areas away from the coast and major cities. Demand for cheaper properties is expected to increase with price rises of between 10 and 12% in the coming year. Spain, like the UK, also appears to suffering from a severe shortage of affordable housing and many Spanish families are paying over 40% of their income in mortgage repayments.

In conclusion, Spain continues to have a viable, if less certain, property market. Coastal property prices will remain volatile this year and flat for the foreseeable future. The inland market is considered to be more robust with prices remaining flat this year and with small steady increases in 2008 and 2009.

I expect to see some real bargains coming on the market for the remainder of this year, especially from developers who have good margins to work with and need to shift their properties to maintain their cash flow. We are beginning to see new development key in hand properties that are being offered at 16% below market value.

Polaris World Resorts

On a recent invitation visit to Polaris World Resort in Murcia, we were informed of the huge advertising campaign that they are promoting throughout July and August this year.
Since January, Polaris World has sold close to 6000 units!

There prices are so competitive and they are now pushing the fact that they are NOT just a golf complex, they admit they had got some of their advertising wrong. If you look now, it does not mention golf.

1ST CALL PROPERTY SERVICES SL
With over 12,000 resales throughout Spain
We are sure to have a property to suit your lifestyle, taste and budget.
Take a look at our Company web site. www.1stcallproperty.net

Rent to Buy in Spain

Thu, 01 Jan 1970 00:00:00 +0100

Rent to buy here in Spain is the totally new concept being offered by 1st Call Property to clients who would like to keep some of their finances back for other uses.

1st Call can offer to would be purchasers key in hand, ready now townhouses, fully furnished and ready to move into for only 9000 euros deposit.

9000 euros! Move in Today.

For further information on this unique concept please contact us at our UK office telephone number 0844 734 3642 or view our company web site www.1stcall@fsmail.net

Aheloy Beach Development

Thu, 01 Jan 1970 00:00:00 +0100

Platinum Developments have launched the second phase Aheloy Beach residence. This development will carry a premium for rental and capital growth. The is a beach front development pack full of facitilies. Platinum Developments would like to offer any client a free inspection trip to view this development (STC). Contact us now at Richard@pdi.ie or visit our web site www.pdi.ie for more information and more developments.

Richard Parker 07809 412803

Novi Property Opinion Spain's Urban Planning Model

Thu, 01 Jan 1970 00:00:00 +0100

A recent report from Greenpeace slams Spain's approach to urban planning & construction both on the mainland and Mallorca. Despite Mallorca property development having been halted due a moratorium on new development during 2003 2005 Greenpeace maintain that the overall area of land taken up by new development, including road building and other public infrastructure projects, has been one of the highest in Spain when looked in relation to the Island's total area.

The report goes on to criticise a laisez faire planning system open to huge scale speculation, a political system rife with corruption, and a judiciary failing to implement legislation intended to stamp out the excesses and abuses of the development process.

Regular readers will be aware that at Novi Property Mallorca we have long advocated a sustainable approach to development in Mallorca (that being where we are based but a conviction equally held for mainland Spain) without taking a stance allied to any political party or group. It is essential whether one is looking at the "big picture" of global warming, or the plight of local level ecosystems that the needs of society generally, both today and in the future, are given an equal voice alongside the legitimate yet often narrow and short term objectives of individuals or corporate entities. A model of sustainable development is all about "win win" for everyone involved / all stakeholders developer; buyer / future occupier / user of the development; wider society and all those that are effected by the development, be it directly or indirectly. The key is that the narrow objectives of one party, be it a developer, a campaigning environmental group, or anyone else, should not hold sway over those of others including the long term needs of society in it's widest context.

This is not always simple and in most cases we charge our public institutions Town Halls, Autonomous Governments / Council's to act as arbiters on our behalf. If there is a failure in the integrity of those Institutions or the individuals exercising power within them, at best there will be mistrust and at worse abuse by individual stakeholders. Either way what follows is a collapse of the process and in effect any hope of a transparent and democratic sustainable development model.

The result is either uncontrolled development or, at the opposite extreme, paralysis of the system, which in many respects has as many damaging consequences. What Spain and Mallorca need is a thorough review of it's democratic institutions, how they operate, what conduct is expected of those holding office; the legislative framework required both nationally and regionally and, above all ,a much more robust approach to law enforcement at all levels. Then and only then can there be a debate concerning what level and type of development is needed and how it can be implemented. Mallorca, and Spain in general, needs new development, restructuring and regeneration but only a fully transparent approach, in which all stakeholders have confidence, will deliver the positive benefits that would surely arise.

Looking for Property in Cyprus?

Thu, 01 Jan 1970 00:00:00 +0100

Let Our Reliable Professionals Help You Make a Sensible & Secure Investment!

Why Cyprus? The stable economy, and secure environment of Cyprus
is rapidly making it one of the most popular property investment places in Europe; offering excellent real estate investment options in an affordable market.

Discover Ancient Limassol ruins and perhaps a mythical submerged city.

For a voyage into the past Explore Archaeological sites, castles, ruins, museums. Sites to see are the Greco Roman theatre Kourion, Crusader castle of Kolossi.

Discover Contemporary Limassol

Sandy beaches of the Mediterranean, nightlife in Limassol, business center, seminars, conferences, Cyprus offers something for everone. Ideal spot for business as well as relaxation.

How we can help you:

 We can build premises to your specification; whether you want industrial buildings, office space, or a home.
 We can help you find, choose, and buy residential, or commercial property investments of various kinds to suit your particular requirements.
 We can look for, and even buy the land for you as well.
 We can guide you through the design, and construction process, as well as provide you with the most cost effective options, and construction methods.

Who we are: We are a progressive Architectural, Engineering, Property,
and Land Developing company SVG Buildings, based in Limassol, Cyprus. Our company is comprised of professionals, each bringing many years experience to our respective specialist fields of property development, design, and construction. Our registered, and professional office is well established, and reputable , with a solid history behind it.

Please contact us for further information and/or consultation. Visit our website at www.svgbuildings.com, or give us a call 00357 99 645556.
email: SVGeorgiou@svgbuildings.com

INVEST IN NOTH

Thu, 01 Jan 1970 00:00:00 +0100

A COUNTRY FULL OF INVESTMENT OPPORTUNITY

Now available under development by renoun developers
you can purchase 10 of these bungalows for for �750000.

in a good area of land. this opportunity is only for foriegn investment
contact here
foligarkum@telstra.com

Turkish Houses real estate agent presents you Efe villas

Thu, 01 Jan 1970 00:00:00 +0100

This complex is in the hearth of Kusadasi.The triplex villas complex is looking all over Kusadasi with fantastic sea and mountain view.Only 10 minutes walking distance to the centrum and beach

RealtyBG

Thu, 01 Jan 1970 00:00:00 +0100

Whatever you desire, we are assuring you you will find it in Bulgaria sandy beaches, top class ski resorts, golf courses, spa centers, a lot of historical places to visit, busy cities where you can either expand your business or find new opportunities.

In Bulgaria you will find properties that cover all kinds of interest and areas. What we claim distinguishes us, is that we not only offer you holiday homes and investments, but we also advise you on the best option for you in accordance with your expectations.

We have a wide range of properties and as property consultants we are here to give you an independent advise. You probably know how time consuming it is to look at offers and compare them without having a clear idea of in which area they are, what is the expected rental return, is there a maintenance provided etc. It is not an easy job to do this research in your native country, what about in a foreign one.

Offering solutions from A to Z for purchasing a property in Bulgaria, we aim to keep our promises for adequate behavior, in time orders and transperency.

We hope you will enjoy browsing our website and please, do feel free to contact us for further details.

http://www.realtybg.net

New VIP Real Estate Service in Spain

Thu, 01 Jan 1970 00:00:00 +0100

Exclusive Life & Style is an international real estate group, market leader on purchasing and selling the most exclusive properties at the Costa Brava. The company offers its clients a new type of service including a special VIP service, a perfect combination of purchasing and selling, good communication with special attention for the clients, professional advice in different areas and ideas for interior design as well as decoration.You can contact Exclusive Life & Style for professional advice offered by international experts and count on our experience in cities like London, Paris, Munich, Amsterdam and Moscow.

You can find us in S'Agar�, one of the most wonderful villages of the beautiful Costa Brava. Our clients will appreciate the exclusivity of quality and style we offer, and they will know that their property is in good hands.

Exclusive Life & Style offers this pleasant sensation of luxury and thanks its clients for their confidence.

www.exclusive life style.com

investtment in Poland

Thu, 01 Jan 1970 00:00:00 +0100

A lot of people think that Polish property market has reached a peak. Especially in Krakow or Warsow. The prices of apartments are huge. But even the prices are so huge there is still opportunity to earn money. Good money as I can say. If you are thinking of normal rental income forget it. As you pay more then 3 000 or 4 000 Euro per one square meter of apartment in a good location you have got 20 30 years of period to collect invested money. Nobody is interested in such long time. But if you rent your apartment for short periods for tourist or businessmen the profit is greater. You can earn three times more then in a normal way. So if you need any help to find apartment in Cracow contact with us. We will help you not only to find a property but we will manage it and will be responsible for finding clients for short periods.

Tesco now selling houses

Thu, 01 Jan 1970 00:00:00 +0100

It seems that Tesco have now jumped into the property market, offering private sales of �199, www.mypropertyforsale.co.uk have been selling property privately online since 2001 and charge just �99.

Tesco had their listings populated by Fish4.co.uk BUT Fish4 have now pulled the plug on this and want Tesco to remove their properties by the end of September.

Were Tesco trying to fool their customers into thinking that all the properties were private sales?

It does seem to me that Tesco has got it completely wrong when it comes to the property market and though their name would have other top property portals begging to be listed...not the case.

Sell your property online privately for a one off fee of just �99 www.mypropertyforsale.co.uk

Golf in Bansko Razlog valley on Pirin Golf course only

Thu, 01 Jan 1970 00:00:00 +0100

Pirin Golf course the Investment Pearl of Bansko Razlog Ski Area in Bulgaria

Situated in Bansko Razlog valley, Pirin Golf & Country Club is the first of its kind European golf ski resort from Kitzbuel in Austria to the East. The gated golf ski community will enjoy an 18 hole Ian Woosnam signature golf course, Golf Academy and top end lifestyle of its own amidst own pine forest , incorporated in the 240 acre (920 000 sq.m.) plot.
Due to the increased interest for golf ski investment, the owners of Pirin Golf resort reassure all investors in the exclusivity of the development through explicit inclusion of the golfing rights coming with the property in the contracts. Only owners of Pirin Golf property may become members of the golf club.
Booking tee time will be done through sophisticated electronic system. Initial analysis of present buyers shows that 85% of them are golfers, who will use their properties (apartments, houses) both personally and for letting. This lead to the idea for extension of the golf course with new 9 18 holes, thus turning Pirin Golf into the second largest mountainous golf resort in Europe.
This unique investment still offers the opportunity for acquisition of limited number of units that overlook the golf course direct. Visit www.pirin golf.com for more details

Book apartment in Poland and invest in Krakow, Poland

Thu, 01 Jan 1970 00:00:00 +0100

Our company works on European Market of on line reservations of accommodation in apartments, houses and places in hostels and boarding houses. The offer is directed to people who are traveling for tourism and business reasons. We may provide You accommodation in small flats (studios), apartments, houses and places in hostels and boarding houses.

Using our knowledge and numerous contacts with different estate owners as well as anticipating Client's needs who are looking for different properties to buy or rent we have established also a section of typical real estate agency managed by licensed and experienced broker. So visit our website www.booking apartments.com for more information.

French Riviera Property Investment

Thu, 01 Jan 1970 00:00:00 +0100

NB! Investment properties and new built projects can be viewed at www.est8net.com

Investing in property is widely considered a good investment with little risk, investing in property abroad can be both very profitable but also more risky if you do not take the right precautions. There are a number of issues to address when you are planning to invest in property in France, everything from where, what, when and with whom!

We have long experience in assisting our investment individuals and companies to find the right product in the right location at the right time. Local knowledge is 80% of the deal, if you end up buying something in the wrong area of town or even the wrong town, your venture might not be as much fun as you hoped. We have a long list of references from clients investing in several different aspects of the property market on the French Riviera, I would like to list some of the different investments our clients has done the past few years:

*

Buying a plot of land and constructing your own house or condominium. This is a tempting project and the thought of all the profit that might come out of it makes this option the most popular. Just remember that this is a challenging and time consuming investment that might demand more of your time than what you are prepared to use. The process of obtaining the permit to construct may take a long as 12 months, but is usually done within 4 to 6 months. This includes the time the architect needs to make all the drawings and plans.

There are hundreds of plots along the coast for sale, but look out for the pitfalls. You do not want to end up with a plot that can only be used to grow grass on, a plot where there are plans to build a road through in 5 years, where the ground is moving or simply a plot with too many restrictions. The COS and SHON is what you want to look for when you see a plot of land, the COS and SHON will tell you how many square meter of livable surface you can construct. Our banks finance whole projects from the land to the construction of the house.
*

Renovation project

This is also a popular alternative, and always the same rules that apply: LOCATION! However tempting it is to buy a big house in a bad area, do not go there, use the money to buy a smaller apartment in a sought after area instead. It is by far the best investment.

Renovation can also consume a lot of time, and it might be an idea to consider hiring a professional company to do the job. You might think this is the expensive solution, but then you are living under a misapprehension. Our After Sales Service will be able to put you in contact with the right professionals, and this might even save you money in the end. Not knowing the language, or even just not being familiar with where to go and who to talk to is reason enough to hire someone. And you can imagine what the local contractors might charge you as a foreigner, knowing that they are your only chance!

You can find a lot of very good deals out there, both houses and apartments. Keep in mind that a house is 10 times more work and money than an apartment; of course this does not mean that you can not do wonderful business with a house, just be alert.

If your plan is to sell of the newly renovated property, an apartment appeals more to the locals than a house because of the price level. On the other hand most foreign buyers are looking for that Provencal villa with a pool! If your plan is to let out your property then you should consider an apartment even more, these are easy to rent out and if the location is right you can really make some good money.
*

New constructions. Investing your money in one or even several off plan apartments is a very good investment in my opinion. You have several advantages that you do not get anywhere else and also you must work hard to find one build in a bad area. Firstly the advantages:
o Reduced Notary fees (from 7% to 3%)
o Guarantee of completion
o Guarantee of construction (10 years)
o Guarantee of fittings (2 years)
o 5% deposit
o A payment schedule depending on stage of completion
o Increased market value up to the time of completion with minimum cost (historically between 20% 25% increase in value from reservation to completion).

On top of this the majority of new constructions are built in sought after areas where the market value increases with 10% 15% per year.

If you want to resell your new apartment you can do so within the first 5 years to a new buyer offering them a reduced Notary fee, this ends after the first 5 years or with the second owner. After this the Notary fee will be the same as resell properties (approx 7%).

You can see our selection of New Constructions here.

There are many forms of ownership that apply for properties in France, whether an investment or your new primary residence. Below we have listed some of the more popular alternatives of ownership:

Property investment partnerships (SCIs)

The purpose of a property investment partnership (soci�t� civile immobili�re, or SCI) is to acquire or, in some cases, provide for the construction of buildings (houses, flats or entire buildings) to be rented to third parties or provided free of charge to the partners. An SCI must consist of at least two partners. A written contract, known as the by laws, is required of every SCI. These by laws must contain information on the firm and its partners (including its name, headquarters, total assets, method of operation, etc.). Once the by laws have been signed by the founding partners, the partnership is registered with the local trade and companies register.

The partners in a partnership are liable for the firm's debts in proportion to their share in its capital. For example, in a partnership consisting of two partners who each hold one half of the firm's assets, each partner will be liable for one half the liabilities. Therefore, there must be complete trust not only among the partners but also between the partners and the firm's manager(s), who must be chosen wisely. The advantage is that when several partners join forces, they are able to undertake projects that would have been impossible for one person acting alone. By purchasing a building as an SCI made up of numerous partners, buyers can avoid the instability inherent in simple joint ownership. However, bear in mind that the building belongs to the partnership and not to its partners, who merely own shares in the partnership. There is consequently less freedom in decision making. The partners must be able to reach consensus in order to make decisions; indeed, the most important decisions will require unanimity. Lasting disagreements among the partners may paralyze the firm's operations and prove detrimental to the interests of all parties.

So long as these constraints are borne in mind, partnerships can be an effective tool for asset management. Children and parents can be included in a real estate acquisition (such as the purchase of a second home or vacation home). Later on, the parents' share of the property can be gradually transferred to children or grandchildren in small increments, with a tax burden that is spread out over time. Some tax advisors suggest that an SCI is an effective way to reduce your tax liability. That isn't entirely accurate, although in certain circumstances the acquisition, construction or sale of a building can be conducted more efficiently by an SCI from a legal, financial and tax standpoint. Tell your notary about your plans. Only a comprehensive analysis of your specific circumstances can determine whether a partnership is appropriate for you. You should never enter into a partnership without taking certain precautions, nor establish one without knowing how to extricate yourself later on. Moreover, under some circumstances the by laws should be prepared as a notaries deed in order to avoid having them challenged in the future, especially if spouses or eventual heirs are involved, and in this case a meeting with your notary will prove essential.
Property investment partnerships and their tax disadvantages.

As stated above, the transfer of personal property, with regard to succession, is subject to the law of the deceased's last place of residence. Under French law, shares in a company or partnership interests are considered movable property. If, upon the death of the pre deceased spouse, the latter resided in England, this property may be transferred in accordance with British law, which does not include the notion of forced heirship. One possibility, therefore, is to advise Mr Smith to create a property investment partnership and to make a will bequeathing the shares to his spouse.

Estate taxes in France Article 4 g of the Franco British Convention of 21 June 1963 regarding inheritance taxes stipulates that shares of a property investment partnership are taxable in the place where the real property is "used", namely in France.

Income tax in England British tax law regards property investment partnership as joint stock companies and taxes the advantage derived from the gratuitous provision of the residence by the company to its partners as income tax in England. This income may exceed the real market rental value (Income and Corporation Taxes Act of 1988, Articles 145 and 146).

Preference given to a change of marital regime These two serious tax consequences prompt notaires to advise their clients to make a partial change to their marital regime rather than automatically resort to a property investment partnership. However, in making the decision, one must take into consideration the value of the real property located in France, which may be less than the �76,000 tax allowance. The impact of the taxation in England must also be weighed against the notional income from the real property in France.

A Once Only Development Opportunity In Madeira

Thu, 01 Jan 1970 00:00:00 +0100

Situated in the south west area of Madeira (known as the sunniest in Madeira) this piece of land is adjoining the new Nick Faldo golf course enjoying unrestricted magical ocean views.

Articles exist (PP) for a 5* Luxury Hotel, Tourist Resort or 4 5 Luxury Detached Villas. Look at the land values at the Palheiro Golf Club Resort which confirms this marvellous investment opportunity

Albania. The Last Secret in Europe

Thu, 01 Jan 1970 00:00:00 +0100

Albania Don't miss the boat!

Albania has finally found itself on the property investment map.

Often refered to as the "Switzerland of the Balkans" this beautiful, historical land that is found across the water from Italy and bordering Greece has it all. From the glorious beaches running up from the south to the historical protected sites, the huge snow covered mountain ranges and the busy cosmopolitan Capital city of Tirana.

This often misunderstood country benefits from land and property being cheaper than most of its eastern European neighbours and investors should have a look at what it has to offer and the huge potential gains that can be made.

80% finance available with interest rates between 6 9%
Taxes are non existent when buying as an individual or co ounership (no company need)
Finance can be arranged through us without needing to visit the country.
Prices for off plan developments starting from �40,132 with only 20% upfront payment at pre contract and the balance can be taken as Mortgage.

To find out so much more about what Albania has to offer you please have a look at our site where you should find everything you need to know and more. www.albania estate.com or email us on: info@albania estate.com
Regards. Albania Estate.

French Riviera

Thu, 01 Jan 1970 00:00:00 +0100

NB! More information like in this article can be found on www.Est8net.com.

How to buy property in France

Are you dreaming of buying a property in France and spending your holidays or even all your days in your own French home? Estate Net is the specialized real estate agent capable of offering you a full range of solutions.

The French real estate market is currently enjoying a period of strong growth and the number of properties available on the market regularly falls short of demand. The diversity of landscapes and architectural styles can't help but satisfy any expectations regarding a principal residence, a second home or rented property and with the help and services you can expect to enjoy from Estate Net, you will find it easy and safe to purchase, sell or rent. Please also note that up to and including the signing of the contract for your new home, our services are totally free of charge to you as a purchaser. However, should you wish to use any of our wide range of optional after sales services then please request details and costs from Estate Net.

Whatever the region, type of property you're looking for or your budget, the wide variety of real estate available on the market means that you will always be able to find a property that corresponds to your criteria. But to help you make the acquisition process as trouble free as possible, here are a few words of practical advice:

1.
Decide your budget.

What property at what price? This is the first question to be asked! Everything will depend on the region, the position of the apartment or house (overlooking the sea, for example...), the kind of property (ch�teau or country cottage...) and its state of repair. In France, the price range is extremely wide for a house and garden.
2.
How much can you borrow?

It's obviously important to determine how much you can put down immediately and make the necessary calculations to ascertain how much you need to borrow. It's easy to determine how much you can borrow by deciding how much you would like to reimburse every month. Remember that your monthly repayments should not exceed 30 to 40% of your monthly income. By using Estate Net to arrange your financial needs we will make sure that you will benefit from our good bank relations in France. A loan in France would give you an interest rate of approx. 4,5% over 20 30 years on a 80% loan of the purchase price.
3.
Find the house of your dreams.

You can find the house of your dreams by using Estate Net's services. Simply search our online database or fill out and send us the property preference form and we will conduct a detailed search for a property based on your specific wishes. Then, carry out a full and rigorous examination of the property and don't hesitate to take detailed notes that will help you to compare offers calmly and in your own time when you're ready to make a decision.
4.
You decide to buy!

You have found the property you would like to acquire? You now need to 'reserve' it, i.e. commit yourself by signing a contract, known as a "compromise de vente" (provisional sales agreement), or sign a "contrat de r�servation" (reservation agreement) when buying new property. This stage is a major step and you will now be legally and financially committed with limited possibilities for withdrawing from the agreement. Your Estate Net representative will help you through this process step by step and make sure you fully understand everything before signing.
Contrat de r�servation reservation agreement:

A contract by virtue of which a buyer reserves a property to be purchased from plan. This provisional real estate sales agreement is the legal equivalent of a compromis de vente.
Compromis de vente provisional sales agreement:

This is a provisional contract used for the acquisition of a property or building land. This expression is habitually used for the promesse de vente (unilateral agreement to sell). This contract lists the names and addresses of the seller and buyer, their reciprocal obligations, the description of the property in question, its surface area and price. It also lists the conditions of avoidance making it possible to terminate the agreement, notably the buyer's failure to obtain a loan (or planning permission in the case of the acquisition of building land). If these conditions cannot be met, the agreement will be declared null and void. When the provisional sales agreement is signed, you will be asked to pay a deposit by the seller. If the buyer withdraws from the agreement before signing the legalized deed of conveyance, the seller is entitled to retain the deposit. If the seller wishes to withdraw from the agreement, he must pay the prospective buyer twice the sum of the deposit.
5.
Take out a loan.

Contact us for details of information required for taking out a loan.
6.
The deed of conveyance.

A public notary who ensures that all legal provisions have been respected and guarantees the authenticity of the contract must draw up the deed of conveyance. The notary retains the deed of conveyance and gives a copy to both signatories. Allow up to 2 to 3 months between the signing of the provisional sales agreement to the moment you receive the final deed of conveyance. Estate Net will join you at the notary meetings or do the notary meetings on your behalf to ensure that everything is done correctly.
7.
Conveyance fees.

Apart from expenses due to the public notary (invoices settled by the public notary on behalf of the purchaser), the purchaser must pay a main so called transfer tax (taxe de mutation) equal to approximately 5% of the selling price, and various other taxes (property registration, stamp duty, VAT on new construction). These costs can amount to between 6% and 8% of the selling price, but again is subject to each project or property. Be sure to ask us for the details of the specific property you wish to purchase.
8.
Insurance.

Don't forget that as a real estate owner, you are responsible for any injuries or damage your property may cause to a third party (e.g. a tile falling on a passer by, water damage) or capital loss. You must take out comprehensive household insurance.
9.
Group acquisition.

Perhaps you would like to join with others in acquiring a holiday home, perhaps with other members of your family or with friends. In this case, you would be advised to acquire a house by setting up a soci�t� civile immobili�re (a non trading real estate investment company).

Taking out a mortgage in France

Thu, 01 Jan 1970 00:00:00 +0100

NB! More helpfull information can be found on www.Est8net.com

95% our clients choose to apply for a mortgage in France, not all of them have the Euro as their home currency and others see the benefit of running their French property as a separate business. It is advantageous to have your French home mortgage in France when all the property expenses and rental income will be in Euros and in France.

The main reason for a foreigner to take out a mortgage through us in a French bank is the Inheritance Tax (up to 40% of the capital share in the property) and Wealth Tax. To avoid these taxes a mortgage of 80% is taken out in France, thereby reducing the wealth and also the base for the inheritance tax.

You can choose between a normal repayment mortgage or an interest only mortgage, in any case the interest rate offered to foreigners in France are quite low compared to the European average.

Please take some time to read through this document to learn more about the French mortgage system and how you can benefit from it. Feel free to contact us directly with any question or need, we help our clients with over �20.000.000 per year in mortgages and can make the whole process a pleasant one for you and your family.

Credit institutions granting real estate loans are exposed to a significant risk of the borrower defaulting on the loan in view of the large amounts of money involved and the length of the repayment period (max 30 years). It is understandable that these institutions should require guarantees to ensure the debt assumed by the borrower is repaid in full.

There are two principal types of guarantee: collateral in the form of real property belonging to the borrower pledged as security, and surety agreements involving a guarantor who will pay the borrower's debts in the event of default. Various other arrangements also enable lending institutions to guarantee the loans they grant to borrowers.

Collateral security takes two distinct forms: mortgages and moneylender's priority liens. A mortgage can be used to guarantee all types of real estate transaction. Several mortgages may be taken out for the same property provided the sum of the mortgages does not exceed the total value of the underlying assets. The priority lien is not available for all types of loan: it is essential that the real estate financed should already exist at the time the guarantee is taken out. Consequently, real estate transactions involving homes purchased from plan, the construction of a private house or renovation work is excluded from this type of guarantee.

Guarantees in the form of collateral continue to exist for a period of two years after the payment of the final instalment of the loan they were taken out to secure, and only automatically lapse at the end of this period. As a result, if the borrower wants to sell his property before the end of this two year period he must release the mortgage, an operation that incurs expenses for the seller. The mortgage release operation requires a deed executed and authenticated by a notary and leads to expenses consisting of the notary's fees, the salary of the registrar of mortgages (0.10% of the sums concerned by the entry of satisfaction of mortgage) and stamp duty.

Surety agreements: The principle of surety is based on the intervention of a third party (the guarantor) who undertakes to repay any outstanding debt should the borrower default. Unlike the conventional mortgage or priority lien, it is not necessary to have the surety agreement authenticated by a notary and the cost of the surety is not regulated. Depending on the institution providing security, expenses related to surety agreement amount to approximately 1% of the loan. Surety agreements offer considerable flexibility should the borrower decide to sell his property. Unlike collateral security, no mortgage release procedure is required should the real estate be sold before the end of the loan period. The surety lapses automatically with the payment of the final loan instalment even in the case of early repayment of the loan. Another advantage consists in the fact that the borrower, in the event of financial difficulties, can sell his property by his own means in order to reimburse his debt, without being subject to the results of a judicial sale. In terms of cost, surety agreements are not less expensive than collateral security and may be more expensive than a priority lien.

Other types of guarantees: For certain type of borrowers and certain types of real estate operations, financial institutions may accept stocks and shares owned by the borrower as security for a loan. The operation consists in pledging securities to the lending institution that will retain them in the event of a permanent default on the part of the borrower. Depending on the type of securities, the bank will change the coverage rate for the pledged securities. Thus, for shares whose value can fluctuate considerably, credit institutions may require that the value of the pledge portfolio should be at least equal to 150% of the loan granted. This type of guarantee can be combined with the two principal forms of guarantee described above: collateral security and surety agreements.

Contact us for a quote or to learn more about financing options:

Estate Net France SARL
210 Route de Valbonne
06370 Mouans Sartoux
Tel. : +33 (0) 497 011 313
Fax. : +33 (0) 497 011 310

BVI sole data provider to ISI Emerging Markets for the Romanian real estate market

Thu, 01 Jan 1970 00:00:00 +0100

BUCHAREST, Romania June 18, 2007 Bursa de Valori Imobiliare� or The Real Estate Exchange� (BVI�) and Internet Securities Inc. (ISI) signed a contract to provide listing data covering all real estate properties listed on the BVI trading platform to ISI customers for the ISI Emerging Markets service.

As provisioned in the partnership, BVI offers direct access to its database for real estate professionals to ISI customers. This way, local investors, but more importantly foreign investors are exposed to high quality real estate information for the Romanian market. Investment opportunities will make their way onto foreign investor business plans more and more now that the need for verfied and updated real estate information for the Romanian market is met. The partnership came about as both companies focus on international exposure of business opportunities on the Romanian market.

�The partnership with Internet Securities Inc. signifies first and foremost the recognition of the added value of a continuously updated and verified real estate database centralized on a national level and created from the successful collaboration of BVI members," said Felicia Nitu, CEO of BVI. �A transparent and fair system which encourages accurancy of real estate information and contribues to the reputation of all players on the real estate market is in great demand by foreign investors both retail and institutional. We are excited to offer our members this kind of an international exposure not only as an additional business opportunity, but also as a confirmation to the value of the high standards which together we uphold." added Felicia Nitu.

�The Real Estate Exchange represents a credible and high quality source of information regarding the Romanian real estate market, a detailed and well documented database in its industry. The partnership between BVI and Internet Securities Romania can only contribute to the added value of our investor data service for the Romanian market, while providing an opening for BVI to other regional markets," said Ioana Elena Severin, Product Manager Romania & Moldova, Internet Securities Romania.

Internet Securities Inc. is a Euromoney Institutional Investor PLC company and supplies through its "ISI Emerging Markets" service hard to obtain investor data from over 100 emerging markets. Sourced straight from the local and global data providers, the news, financial results, industry analysis, stock tickers, macroeconomic statistics and other market specific data target local and regional customers.

ISI Emerging Markets continues to be recognized, obtaining perfect scores in all categories and a "must have" qualifier from Information World Review, as well as first place among business Web sites awarded by The Wall Street Journal Europe, and the "Best of the Web" title from Forbes magazine. The Romanian Product currently sources data from 300 first class data suppliers now joined by The Real Estate Exchange (BVI). (www.securities.com)

Bursa de Valori Imobiliare or The Real Estate Exchange is the only Romanian real estate institution to offer a formal and regulated trading platform for real estate transactions. The rules and regulations which govern the trading protects the interests of all involved parties: owner, buyers, and real estate professionals. (www.bvi.ro)

Southern Austria A Fabulous Lifestyle Investment

Thu, 01 Jan 1970 00:00:00 +0100

Investors in overseas property will be well aware of the opportunities available in areas such as Spain, Bulgaria and Cyprus with their large developments being extensively advertised in the press and on the television.

So what is the particular attraction of a small scale development in Southern Austria which is now gaining the attention of some of the UKs leading agents?

Its not simply that Independent Properties Abroad is an established UK company, but a combination of factors which our Commercial Manager, Wendy Bowers, believes sets the development way out in front as a lifestyle investment.

Wendy explains: "Think Austria and you see a stunning beauty, a fantastic quality of life and a true all year round holiday potential which includes winter skiing, a wealth of summer holiday activities and a cultural heritage equal to any in Europe.

"The attraction for us of this particular area has been the sheer quality of its location in the heart of the Lavant Valley an area which has all of the factors which give Austria its fabulous lifestyle reputation.

"We are able to offer an investment opportunity to our clients which is very different from many of those currently available throughout Europe.

"Add to that the fact that our development is a small, very personal and closely managed operation, with a firm 10 year development plan, and we can confidently give our clients a very secure, long term opportunity."

Wendys confidence in Southern Austria as a secure investment is based on a solid foundation.

Recent research by Channel 4s A place in the Sun estimated that a property investment in Austria today would outperform Cyprus, Spain, France and Italy over the next 10 years with a potential 200+% growth.

Property developments in Austria are also well regulated with Austrian law very much favouring the purchaser, including financial transaction protection and extensive bank and government guarantees ensuring that the horrors experienced by some investors in other countries simply cannot happen.

Southern Austria may not grab the headlines in the property investment press, but that may be because it is so special the guarded secret of those who demand something extra for their lifestyle investment.

Anyone considering a property overseas as a lifestyle investment should certainly look closely at Southern Austria; a beautiful, safe, clean and friendly environment with a quality of life that is second to none.

IPA operate from Colne in Lancashire and from our Austrian office near Wolfsberg. Wendy will be pleased to provide details of the properties and the region. Contact us on 01282 661116.

Investment plot of land

Thu, 01 Jan 1970 00:00:00 +0100

Regulated plot of land in Constanta City, 14000 sqm with 70 meters opening to Siutghiol Lake. Beautiful lake view, near University of Constanta, Carefour Mall and Metro Mall.
The area it is good oportunity to develop residential complex and the price it is less than usual 210 euro/sqm instead of 350 400 euro/sqm as usual.
The owner has project for vilas(groundfloor+1+attic).

Mortgages in Croatia

Thu, 01 Jan 1970 00:00:00 +0100

Please find below announcement from Hypo Alpe Adria Bank and if you need more details please contact us for detailed condition of approval. The rates for not residents in Croatia are between 6 7% for mortgages in Euros:

HYPO:

We are proud to announce that we have successfully launched our new product, loans for purchase/remodelling of real estate in Croatia to companies with limited liability in ownership of a non residents, UK and Irish citizens.

We have had a lot of inquiries in the past few months and are happy to announce that the procedures have been simplified and that the interest rates have become more favourable.

We also offer cash, equity loans to non residents in Croatia who already own a property there and want to raise a mortgage on the property. The loan amount depends on the value of the property and interest rates are between 7 8%.

As the second biggest bank in the Balkan region, Hypo Group Alpe Adria is keen on promoting the real estate sector in Croatia and helping in finance sourcing.

If you have any questions or would like to learn more about our products, please don't hesitate to contact us at office@hypo alpe adria.co.uk or by telephone at +44 20 7730 7764.

Self Build DIY in Croatia

Thu, 01 Jan 1970 00:00:00 +0100

We had quite a few queries from our clients regarding the issue of self building and development in Croatia and we have decided that this article covers this topic in more detail.

Croatian property is one of the fastest growing markets in the New Europe Situated along 2,000km of the Adriatic coasts line with over 1,000 Islands , Stretching from Umag in the North (less than one hour from Trieste Airport) Via Pula (Ryanair, easyjet) to Dubrovnik in the south. Croatia is a magical mixture of sparkling blue seas, white beaches, verdant valleys and unspoilt hill top villages.

Compared to its European neighbours, especially Spain , Italy or Portugal , the coastline is underdeveloped and the great deal of it could be described as unspoiled. Whilst prices are rising rapidly it is also comparatively cheaper to the more traditional destinations in Europe .

Currently there is unprecedented demand for the properties in Croatia , however mortgages are still not widely available for foreigners and, if they are, current rates are 6 7% pa. The forcast is that property prices would rise even faster than now which are at a steady rate of 15% year on year for the last five years. Croatia will join the EU in 2009.

FACTS:

As long as it has clean papers, buying "building" land and constructing a house can make more sense than buying a resale. Depending on finishing levels, building costs are generally �300 to �500 per square meter.

The price of land zoned for building depends on location. Listings for plots in Istria are between �50 to �200p/sqm, down south on the islands, prices for the first row by the sea would start from �200 p/sqm Should you wish to speculate on agricultural land getting rezoned, this costs approximately �2 p/sqm in Istria.

Case study:

In average the building land on the coast range from around �50 per square meter (p/sqm) to up to �300 p/sqm. This means you could buy a 1,500 sq meter plot for around �75,000 and build a three bedroom villa with a pool. The building costs are from �400 p/sqm. For a decent 3 bedroom villa you would need at least 100 sqm and the total cost would come to around �120,000 without a pool (additional �10 �30k pending on size, structure...), however bear in mind that getting a planning and building permission could take up you to two years in some locations. In addition to the cost of building, purchasing a land and connecting to the water and electricity mains it would be vise to set up a limited company if you where to build a property for the various tax reasons. The actual cost of setting up a domestic Ltd in Croatia is �1,000 and this could save you time of getting your name on the land registry, plus resale could be tax beneficial for a new potential purchaser.

In Croatia a lawyer or accountant can set up a d.o.o. (ltd) company and the price with GiM Studio is �1,000 including legal charges, fees and taxes. It takes around four weeks to set up and register a company, which can then purchase all types of land and premises. A company does not require any special permissions before it can undertake major renovation or development work on a property which it owns, except for the usual building permissions if required. If you were to rent out your property or have a large amount of building work to do, the company route may be the best option in the long run.

Please contact us for more details regarding tax issues when setting up a company in Croatia .

New hot spots in Croatia

For the building land and properties in Central Croatia you would pay a fraction of the above prices. The prices would start there from as little as �10 p/sqm for the building land. With an easy connection to the UK , the new low budget flight from London ,Luton to Zagreb starts starting in March, this is tipped of to be a new Croatian hot spot. The new build motorway would take you from the capital to the coast of Adriatic in an hour and a half and skiing resorts in neighborhood Slovenia would be at the same distance... even Zagreb has a FIS World up skiing slopes, which are great for beginners.

The building costs in land are much lower, plus waiting for a planning or building permission could be reduced to half of the waiting time on the coast.

If you would like us to organise viewings/inspection trips, please contact us. The inspection trips could start from �200 p/p half board, for 3 days including return flights to Zagreb with Wizzair, a new low budget airlines flying from Luton airport.

Please visit our website www.gimproperties.com for the full list of properties available. We can also source out a property according to your specific requirements and more details we have about your needs, the easiest and faster we can fund a right property for you.

Please do not hesitate to contact us with any queries you may have.

Kind Regards

Nebojsa Radenovic
Managing Director
GiM Studio doo Croatia

Mail: n.radenovic@gimproperties.com
UK mob: 07940 705534

UK landline: 020 8444 3807
Cro office: 00385 1275 6072
www.gimproperties.com

This e mail is confidential to the intended recipient. If you have received it in error, please notify the sender and delete it from your system. Any unauthorised use, disclosure, or copying is not permitted. The e mail has been checked for viruses, but no liability is accepted for any damage caused by any virus transmitted by this e mail.

GiM Studio doo is registered in Croatia under No: 01828703
Registered offices: Podolje 34, 10000 Zagreb , Croatia

Bulgaria Full Service under one roof

Thu, 01 Jan 1970 00:00:00 +0100

We propose to Our clients of attractive offers, because of the locations of the properties, the strong housing construction and the infrastructure of the build up areas. The prices are more then acceptable, witch explain the large interest for them. If you want to bay a property in Bulgaria, we offer you a full set of services:

A lawyer's services and full legal assistance for your deal.
English, German, Italian, Russian and French translator.
Transport during your stay for the visits.
Hotel accommodation.
Repair of your property, made after your choice.

Our designation is help you to find your dream home in Bulgaria the Earth with "Colours of Life". When you visit our country your heart remain with one all life to azure beach, crimson sunset, profound green forests and tender rose aroma to the Roses Valley.

Metro 4 and the property market in Budapest

Thu, 01 Jan 1970 00:00:00 +0100

With Metro4, a long standing dream of Budapest will come true. It will be a place to travel in comfort and a place to enjoy the traveling. Modern, automated, air conditioned trains that run even every 1,5 minutes. Modern, airy and less draughty stations will be built, where passengers can wait for the new metro trains on uniquely built platforms.

The investment will facilitate the reconstruction of the surroundings of every station, the new metro line will change the life of Budapest. The Metro4 will result in less polluted air and reduced traffic on the surface, and a faster, more silent and safer transportation underground.

Metro line 4 (D�l Buda R�kospalota)
Metro line 4 inBudapest will be an attractive and safe transport means for the traveling public. Thanks to the services enabled by metro facilities and installations it will be suitable for fulfilling the assigned transport duties.

10 stations will be constructed on the first section of Metro 4, mostly by diaphragm wall technology and box station design.

Stations of the first section:
� Kelenf�ldi p�lyaudvar (District 11)

� T�t�nyi �t (District 11)

� Bocskai �t (District 11)

� M�ricz Zs. k�rt�r (District 11)

� Szent Gell�rt t�r (District 11 by the Danube)

� Főv�m t�r (District 5)

� K�lvin t�r (District 5 , 9 and 8)

� R�k�czi t�r (District 8)

� N�psz�nh�z utca (District 8)

� Keleti p�lyaudvar (District 7 and 8)

Handing over of the first section is due in December 2009, according to the current plans.

Stations of the second section:
� D�zsa Gy�rgy �t

� Hung�ria k�r�t

� R�na utca

� Bosny�k t�r

(Source: www.metro4.hu)

The current tendency shows larger demand for rental properties in the Pest side among single expatriates, and foreign couples. Living in the City Center means a comfortable life, with easy access to the transport junctions, work place, pace of the City, restaurant, shops, leisure facilities.

Thanks to the new metro line, the Center will also have easy, fast and convenient access also from the direction of M�ricz Zsigmond Square in the Buda Side.

The Route of Metro 4 (as it is shown above) comprises 5 stops in the Buda side, causing an increase in the property prices in the certain areas. Tenants who so far has not been willing to move to the Buda Side due to the lack of the good public transport, will likely to establish their lives in Budapest on the other side of the Danube, only a few stops away from District 5.

Foreign property investors who prefer the traditional City Center (District 5 and 6), might get more opened for the possibility to buy a classical apartment in the Buda Side (say District 11), yet close to the Center.

The difference between the prices and annual compound yields of a classical property in the City Center and in the Inner Buda area along the new metro line, is expected to decrease.

details on: www.flottinvest.hu

Andalucia Homes Properties for sale in Andalucia

Thu, 01 Jan 1970 00:00:00 +0100

Andalucia Homes is a new Estate Agent situated in the beautiful town of Arcos de la Frontera. At this present time we have properties available in Arcos, Bornos and Villamartin. As the months pass we plan to advertise properties in many of the towns that are on the Ruta de los Pueblos Blancos (route of the White Towns) from Alcal� del Valle to Zahara de la Sierra.

If you are looking for a property in this region, Please bookmark our site for future reference.

http://www.andaluciahomes.co.uk/

Do You Have High Expectations? Luxury Penthouse.

Thu, 01 Jan 1970 00:00:00 +0100

Albatros Residence Avsallar

situation: The ALBATROS residential complex is set in a terraced hillside area with non obstructable views of the endless stretch of the coastline between the Taurus Mountains and the crystal water of the Mediterranean.
Distance to the beach approx. 700 m, distance to the centre Avsallar and the pedestrian precinct only approx. 300m.

� object: The exclusive development is made up of 2 buildings each with seven floors, 28 apartments, including 4 penthouses all with sea views, all built with top quality materials as stipulated by European standards
The reception area has a large range of facilities including a cafeteria, shops, spa with various massages and Hamam.

� property: The ALBATROS development is built on a plot of 4,647 m�. It has a secure entrance and is surrounded by gardens and landscaped areas as well as a swimming pool, paddling pool, playground and barbecue area.

� The Penthouse is the crowning glory.
The roof terrace alone is an experience. High up, it provides an enchanting view of the sea, the coast line and the mountains. Equipped with a kitchenette and barbecue, this is the place for many enjoyable hours.
The light flooded living room, covering two floors and with a gallery, imparts a generous quality of life. Three bedrooms, each with its own bathroom, offer lots of space and room to withdraw.
Your very own sauna underlines the luxurious character.

Do You Have High Expectations?
Then you will appreciate the generous architecture, the furnishings and exquisite materials used. All apartments are fitted with light coloured marble which reflects the light from the large windows. The kitchens are completely fitted with cupboards, cooker and fridge. The spacious fitted cupboards in the hallway and bedrooms underline the high standards of the fixtures and fittings. If required, we can take over furnishing of the whole apartment for you.
The combined heating/air conditioning system ensures comfortable temperatures in all rooms at any time of the year.
Of course we can take your special wishes and requirements into account just ask to us.

� service: The reception area offers a large range of services including key service, 24 h security, housing management, etc.

� if desired: any transfers necessary, language difficulties, or any other problems one might encounter.

� Avsallar/Incekum: 20 min west of Alanya, 30 min to the new golf courses in Side. Particularly at families popular bathing resort with beautiful, flat beach Incekum means "fine sand"....

Elmas Projects Ltd.Sti. Construction & Investments
Sekerhane Mah. H�k�met Cad.No.: 81/A
Alanya/Turkiye

Fon: 0090 (0) 242 513 86 09
Fax: 0090 (0) 242 511 68 41
www.elmas projects.com

New developments in the wintesportarea of Obertauern!

Thu, 01 Jan 1970 00:00:00 +0100

New build Chalets in traditional Austrian style, get details now! Golf course next to the door

Palma de Mallorca Property Prices

Thu, 01 Jan 1970 00:00:00 +0100

A recent report from Caja Madrid's independent valuation company suggests values in the best areas of Palma Old Town, Dalt Murada, and nearby Portitxol, are the highest in Spain.

The values quoted are of between 10,000� 15,000� per m2 while a figure of nearly 20,000� m2 is attributed to a new front line building in Portitxol.

Specifically the areas with highest values were said to be Dalt Murada (10,000� 15,000� m2); Portitxol front line (10,000� 12,000� m2); Passeo Maritimo Calle Monse�or Palmer and between Sa Quarentena y Can Barbar� (10,000� m2); Son Vida exclusive urbanisation on the outskirts of Palma (10,000� 12,000�) and the Bonanova suburb of Palma Calle Francisco Vidal and Sureda 7,000� m2.

The findings add support to Palma's rising status as one of Spain's and indeed Europe's most sought after real estate destinations.

Contact Novi Property Mallorca for details of both major development / investment opportunities, off plan investments or general residential property sales (contact David Novi MRICS at david@novipropertymallorca.com)

LATEST Investment Opportunity in North Cyprus

Thu, 01 Jan 1970 00:00:00 +0100

Remax Da Vinci Estate Ltd is pleased to be able to offer, for sale, off plan investment opportunities and properties in Northern Cyprus from as little as �25,000. From our resales department we have properties ranging from one bedroom apartments to luxury villas, so there is something to suit everyone. For the entrepreneurial investors we also have business opportunities from large plots of prime land to a large block of unfinished apartments, in an excellent location, close to the town centre of Famagusta. We have some exciting new resort type developments across the Bogaz region, offering a multitude of facilities to make your holidays unforgettable.

Sahl Hasheesh Premium Resort, Hurghada, Egypt

Thu, 01 Jan 1970 00:00:00 +0100

The Property Shop International are the new marketing partners of Resort Alliance Trust AG who are the exclusive Promoters of this Five Star Resort on Egypt's Red Sea Coast. A spokesman told us 'This is one of the most important touristic developments in Egypt' the government have built a six lane motorway linking Sahl Hasheesh directly to Hurghada airport.
The Property Shop International are actively seeking motivated agents who wish to earn high commissions to sell this project. Anyone interested should contact Peter Mitry on: peter@thepropertyshopinternational.com for more information or call on 0034 952 891 924. http://www.thepropertyshopinternational.com/investment sahl hasheesh.asp

GOOD NEWS ! TURKEY BANKS OFFER MORTGAGES TO FOREIGNERS

Thu, 01 Jan 1970 00:00:00 +0100

AKBANK OFFERS MORTGAGES TO FOREIGN NATIONALS

NOW, The Belek branch of the Akbank in Turkey offers mortgages to foreigners.

The bank has chosen the Belek branch as to offer competitive mortgage deals for foreign residents, even though they do not have to reside here or have to be a customer at the bank.

The exciting news comes as banks across Turkey begin to offer mortgages to people after the new mortgage law was introduced by the Government recently.

Sales Rep. of the Belek/Kadriye Akbank branch, said that the relaxation of the laws meant that they could now start accepting applications from foreigners for mortgages.

He said the Belek branch had been busy branch to begin managing mortgages due to the high demand from foreigners buying properties in the region.

He said applicants would have to show proof of their wages in the country they lived and would be offered a mortgage between 10 and 20 years.

The proposed rate for the first twelve months would be 0.99 per cent before customers were subjected to the normal rate at 1.39 per cent.

He added: "We are proud that the Akbank has chosen Belek as one of many branches across Turkey to begin accepting and managing mortgage deals for people.

We at Turkstay Group believe it Abank is one of the first banks in Turkey to be able to offer mortgages anywhere in the country. Akbank expecting an explosion in demand for such mortgages in Belek and they are well placed to meet that.

Akbank Brochures on the mortgage offers are available in Turkish and English.

Anyone interested in seeking further information should contact Miss. Ayten Dobada from Turkstay Property Investment Group on:
0090 537 345 0094 or mail property@turkstay.com / contact@turkstay.com

WHO IS BUYING PROPERTY IN TURKEY ?

Thu, 01 Jan 1970 00:00:00 +0100

INVESTMENT IN TURKEY

The Turkish property market has gathered pace in recent years and constitutes a good property investment. Buying a property in Turkey is currently one of the soundest investments that someone who is looking to buy abroad can make.

If you're considering buying investment property in Turkey or would like to know more about why buying in Turkey right now could offer you strong long term investment potential, here are our top reasons for buying Turkey property:

TURKISH RIVIERA
It is a great holiday destination as it is continuing to attract large quantities of European people. Turkey has a wonderful coastline with a great Mediterranean culture. The Turkish Riviera enjoys up to 300 days of unadulterated sunshine every year which makes the area an international tourist destination hit. Tour operators have increased their exposure to Turkey and in return Turkey has responded by developing some world class resorts offering stunning holiday opportunities that are proving particularly popular with European travellers. As a direct result the demand for short term rental accommodation in summer holiday hotspots is on the increase and rental yields are also on the increase meaning a well positioned investment property will offer great buy to let potential.

ECONOMY IN TURKEY
There is continuing talk of the country potentially joining the European Union at some point. Turkey's long standing campaign to join the EU will almost certainly soon be successful. EU membership would also mean a rapid price hike.

Turkey is positioning itself for acceptance for EU accession. It is a long and slow process but it does mean that the Turkish government is working hard to bring their laws, standards and ways' in line with those of other European countries. This standardization makes for a comfortable transition into Turkey for businesses, expatriates and investors and increases the potential for inward foreign direct investment which is positive for Turkey's long term economic success.

QUALITY OF THE PROPERTIES IN TURKEY
The modernisation of the country continues and the property market is set to grow for the foreseeable future. The majority of the new developments being built specifically for property investors and second home buyers in Turkey are being built to meet European building standards and regulations. This gives the investor confidence in his purchase. The Turkish national and local governments are well aware of the wealth of history and cultural that their country has and are keen to preserve the country's natural assets from over development and ruin therefore they have very strict planning and density rules when it comes to property development which help to maintain the country's beauty and its unique qualities and attributes. This means that investment properties will be built sympathetically and that they will never be surrounded by mass density housing blocks at some point in the future.

WHO IS BUYING PROPERTY IN TURKEY ?
Turkey is popular with foreign property buyers and second home owners. It has some of the world's oldest settlements together with important classical remains Ancient Greek, Roman, Persian, Arabic and Byzantine. The Turkish coast has a delightful climate, mild in winter and hot in summer, dramatic scenery and turquoise waters.

The Turkish people are very warm and helpful to foreign visitors and the cost of living in Turkey is low.

PROPERTY PRICES IN TURKEY
It is likely that real estate prices in coastal areas will continue their present upward trend. With its long rental season and property prices 10 years behind those in Spain, Turkey makes a sound economic choice for property investment. Villas with pools and luxury apartments with shared facilities are popular. As stated, Turkish property prices are rising consistently however, as a direct result of the recession in the housing market earlier this century house prices in Turkey remain intrinsically low and have a lot of ground to make up. By buying now you will be buying into that projected period of inflation, you will also be benefiting from the future predicted buoyancy and interest in the market sparked by Turkey's growing appeal and attraction for global investors and visitors. These facts point to a long term sustained period of capital appreciation and also to the fact that you can likely benefit from strong rental demand and increasing rental prices making a buy to let investment in Turkey also highly attractive.

The changes made have translated into significant price increases which are starting to proliferate countrywide but which started in the most popular areas for investment properties in Turkey, namely along Turkey's southern coastline. Here prices increased between 28 and 50 during 2004 alone.

BUYING PROCESS
Buying investment properties in Turkey couldn't be simpler. If you're resident in a country in which Turkish residents are free to purchase freehold property then you're free to buy in Turkey. The buying process follows very traditional rules with a preliminary contract signed upon price agreement, a non refundable deposit made upon condition that all surveys and searches are satisfactory, and a final contract signed before title deeds are transferred. The simplicity of the buying process is a pleasant surprise for many buyers and increases the attraction of the country for investment purposes.

EASY TRAVEL
There are direct flights to a number of coastal Turkish airports: Antalya, Bodrum, Dalaman, Izmir. The number of airports and a good road network in southern Turkey means that the entire areas is very easily accessible internationally which means that tourists can come and go easily increasing the demand for short term accommodation. It also means it's easy for investors to have access to their investment properties.

SAFE COUNTRY
Serious crime and crime against property and the individual are very low in Turkey meaning that an investor and his assets are safe and secure.

THE COST OF LIVING
The cost of living in Turkey is far lower than in any other European country and yet the quality and availability of produce is incredibly high. As Turkey has a massive manufacturing base all everyday household products, furnishings, fixtures and fittings can also be sourced cheaply and relatively easily.

Please mail us with your TURKEY PROPERTY inquiries at: property@turkstay.com

Other important and suggested site links related to this article:
http://www.turkstay.com