Murcia: The best place to invest in Spanish property

by Charlotte Ashton Spain

Potential property buyers thinking of investing in Spanish property should look no further than the popular province of Murcia in south-eastern Spain according to experts at TheMoveChannel.com.
Data from the market leading independent international property portal reveals that Murcia is one of the most searched for locations for Spanish property with La Manga, Caragena and Mar Menor the destinations in greatest demand.

Dan Johnson, Director of TheMoveChannel.com, comments,

“Spain remains the number one country in terms of enquiry volume to the site (August 2011) but we have seen a rise in searches for property in Murcia province and the Costa Calida in particular. When compared to other well-known coastal destinations such as the Costa Blanca or Costa del Sol, the Costa Calida represents good value for money with ample distressed and bank repossessed stock available to purchase at heavily discounted rates.”

According to the latest Spanish House Price Index from Kyero.com (July 2011), the average asking price for property in Murcia stands at €163,000, some 62% below the national average of €263,000. Prices have steadily fallen over the last 22 months from a high of €185,000 at the end of 2009, as Dan Johnson explains,

“The Costa Calida was one area of Spain where the oversupply of property had a somewhat negative effect on the market in the boom however now there are superb opportunities for investors to purchase repossessed property and distressed developments direct from the bank at bargain prices. This coupled with future growth in tourism to the region and the 50% reduction in IVA (equivalent of English VAT) until the end of the year makes this the ideal time to buy in Murcia.”

And there are plenty of reasons that today’s buyers of property in Murcia can be optimistic about the future with tourism to the region set to receive a welcomed boost from the approved Paramount Theme Park due to open in 2015.

Located just 15 minutes from the beach and resort of Puerto de Mazarron, the 158 hectare leisure site with different movie-inspired theme zones, five star hotels, shopping malls, restaurants, bars and clubs and 3,000 capacity conference centre is expected to attract over 4 million each year.

In addition, it will now be even easier for visitors to reach Murcia due to the upgrade of Corvera international airport opening in 2012 and expected to attract 3 million passengers from neighbouring San Javier and El Altet airports.

So if you are thinking of investing in Spain then visit http://spain.themovechannel.com/to view the widest selection of homes in Murcia.

Notes to Editors

Founded in 1999, TheMoveChannel.com is the leading independent website for international property with more than 400,000 listings in over 100 countries in the world, marketed on behalf of agents, developers and private owners.

The website address is http://www.TheMoveChannel.com and the office address is 45 Lafone Street,, Shad Thames, London, SE1 2LX.

Contact Dan Johnson on 0207 952 4625 for futher information.

 

The perfect match: How Golf properties have bucked the trend and proved resilient for investors

by Charlotte Ashton World

Mediterranean countries such as Spain have been at the forefront of developing golf properties catering for a largely northern European market, one that wishes to combine golf with a pleasant and reliable climate. Indeed, for many savvy buyers, purchasing a golf property is usually a decision made more on the quality of life enhancements which add to the location´s value and desirability than about putting balls.

In Spain, while KPMG’s Golf Benchmark Survey reveals that under half (49%) of golf courses in Europe, the Middle East and Africa were profitable in 2010, properties on golf courses have still  fared better than other comparable properties on the coast in the face of economic hardship seeing properties without a golf environment decrease 30% – 35% in value in comparison to a 20%  maximum decrease in price for a golf property.

But what is it that draws many property hunters to the greens and fairways of a golf course?

Even though three-quarters of British buyers do not play the game, there are still a number that do, with KPMG’s Golf Benchmark study revealing that the number of players in Europe, Middle East and Africa has been growing at around 5% every year for the last two decades, highlighting the popularity of the game.

Meanwhile, in response to huge demand for golfing holidays, Spain has one of the widest selections of golf properties to choose from, many of which have developed into golfing ‘communities’, offering sophisticated outdoor living without the isolation. It is the ideal environment for the young, growing families and even those in retirement, simply because it offers community spirit, wide open spaces, access to a course, club houses, restaurants and other amenities with many communities offering special course membership rates and green fees to the homeowners and impeccable maintenance of the surroundings helping the property keep its value.

From a financial perspective, a property on a golf course can be a very sound investment. Golf is a game that can be played throughout most of the year, giving opportunities to generate a year-round rental income from the masses that demand a golfing holiday including not only the British but local Spaniards, Scandinavians and Germans. In particular in the last two years, people from northern European countries with other currencies stronger than the Euro have started to demand and buy golf properties along the Costa del Sol helping prices remain stable during 2010 and 2011.

Ignacio Osle, Sales and Marketing Director of leading house builder Taylor Wimpey de España, comments,

“Los Arqueros Golf and Country Club, an 18-hole course designed by the Spaniard Severiano Ballesteros who is considered one of the best players in the world, is one example of a quality golf course that has performed remarkably well.  We developed and sold during the last 11 years more than 1,200 apartments, villas and detached villas in Los Arqueros Golf Course. This year Los Arqueros celebrates its 20th anniversary and we are very proud to be in the official ranking of the Costa del Sol as the 3rd most popular golf course of 2011.”

So if you’re thinking about buying a golf property in Spain to perfect your swing or fill your pockets from rental opportunities why not take a look at what’s on offer:

Los Altos del Golf is a Taylor Wimpey de España development located in Andratx, Mallorca nestled in the heart of the golf course. It consists of 16 large detached houses split into 2, 3 and 4 bedroom properties. All the properties have generous proportions and offer either spectacular golf or sea views.

The development has been designed in the style of a small Mediterranean village with coloured façades, verandas, spacious terraces, gardens and 3 communal swimming pools. These properties are available now from €489.000. Contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com  for more information.  If you reside outside of the UK you will need to call 00 34 971 706 244.

La Quinta Golf & Country club brought to you from Spain’s leading internet based estate agency, Spanish Hot Properties affords 2 bed and 2 bath apartments and villas from €555,000 in one of the most important golfing centres in Europe and one of the most popular clubs on the Spanish Costa del Sol hosting the Ladies European tour from the 15th to the 18th September 2011 as well as the European Senior Tour from the 27th to the 30th October 2011. For more information contact Spanish Hot Properties on 0207 558 8355 or visit www.spanishhotproperties.com.

Lastly, award winning estate agent Barton Wyatt brings you golfing heaven at Arcos Gardens. Located in Jerez, Spain, Arcos Gardens range from 2 en suite bedroom townhouses with prime views to 3 bedroom villas and the luxuriously appointed 4 bedroom villas overlooking the 10th and 17th holes and surrounding countryside, with their own communal pools and golf membership worth €30,000. Prices start from €354,400 to €1,411,100. For more information, please contact Barton Wyatt on 01344 843000 or visit www.bw-international.com.

American Dreams: The love affair between Albania and the USA

by Charlotte Ashton Albania

It is no secret that Albanians have maintained a deep love affair with the United States dating back to when President Woodrow Wilson, after World War I, stood up to the triumphant nations of Europe and asserted that Albania was a true nation and that its borders had to be protected and conserved. Since that day, Albanians have been the first to sing the praises of the American nation with millions making it their home.

Prior to World War I, Albanians migrated to the USA because of poor economic circumstances, political anxieties, or to flee military recruitment into the Turkish army with the hope of discovering greater opportunities and democratic freedom.  After World War II, Enver Hoxha and the Communists took the Balkan land over, sealing the country off from the rest of the world and when he died in 1985 along with the Communist regime, Albanians looked to the United States for guidance. This historical adoration for the USA was certainly highlighted when George Bush visited Albania back in 2007 and was greeted by deafening cheers and waving American flags, somewhat different to the icy reception and protests witnessed in other European countries with the tiny Albanian village in Fushe Kruge unveiling a statue of him, in a square named in his honour earlier this year.

Interestingly, when it comes to living in the United States, Albanians are the most recent group of Europeans to immigrate, settling across the country in places like Massachusetts, Michigan, Illinois and New York. Indeed, Albanians have become one of the most successful groups of immigrants, working and indeed owning all kinds of businesses including real estate, restaurants and construction companies as well as providing some talented actors including James Belushi and Eliza Dushku, supermodel Emina Cunmulaj and astronaut William G. Gregory as well as politicians and sporting stars to name a few.

Another famous face that has warmed to the charms of Albania saw America’s most famous property tycoon Donald Trump give a warm address via video link to construction and real estate professionals at a gala dinner at last week’s RealEX Awards in Albania, displaying a sincere interest in the Balkan nation without ruling out the potential opening of a future Trump Tower in Tirana.

As a way of continuing Albania’s and America’s relationship, Lalzit Bay Resort and Spa will be launching their US marketing programme this month with sponsorship of the first US – Albania Investment Forum.

Ravin Maharajah, partner in Lalzit Bay Resort and Spa, the 5* luxury residential development located on Albania’s Adriatic coastline comments,

“The first US-Albanian investment forum this month is a perfect way for Lalzit Bay Resort and Spa to build awareness of our product in the US, which we hope will prove very successful given the solid bond between the two countries and its people.”

The event organised by The Consul General of the Republic of Albania in New York and Developing Marketing Associates Ltd (DMA) will be launching the first US-Albania Investment Forum taking place on Monday 19th September 2011, at the 3 West Club in New York City. The event will provide a broad picture of the current economic climate and growing foreign investment in Albania as well as highlighting the vast investment opportunities within the country with representatives from multilaterals, ministries, the Bank of Albania, the private sector and business associations.

If you are an investor, Albanian expatriate, or agent in the USA and are interested in meeting with the Lalzit Bay team during our time in New York, please contact Peter Walshe on +44 208 734 3962 or through the website http://www.lalzitbay.com/contact-us.
 

Sizzling Summer Spanish Salidas – The hottest properties on sale today!

by Charlotte Ashton Spain

 

The Spanish Government has certainly provided a great kick start to the traditional end of summer sale season in Spain by slashing the VAT on new build property from 8 to 4%. In real terms this equates to a sizeable saving of €8,000 on a typical €200,000 property.  
 
This bold move has demonstrated the complete commitment to reducing the volume of unsold property in Spain, which should in turn help to stimulate activity in the construction sector once again. As Nick Stuart of Spanish Hot Properties, founded in 2007, comments:
 
“This move by the Spanish government spells only good news for the second home sector. If you tally up this ‘price reduction’ with the very favourable exchange rate of Sterling to Euro then our buyers are really getting a winning hand right now.
 
“We have found that the greatest interest and best bargains are still to be found on the Costa del Sol. Always a true favourite with holiday makers, enjoying the fabulous weather, blue flagged beaches and topped with the glamour of Marbella and Puerto Banus, Costa Del Sol property is still an aspirational purchase for many British investors looking for personal long term enjoyment in addition to a reasonable rental income from their second home.”
 
 
Hot Properties on Sale Today!
 
Spanish Hot Properties bring you the very best deals available today on the Costa del Sol:
 
La Cala Golf Resort – one of Southern Europe´s finest golf and leisure destinations. Just 30 minutes from Malaga International Airport and just a 10 minute drive from the nearby coastal attractions.

La Cala Golf Resort features three 18 hole golf courses, a 5 star hotel, a stunning new health and beauty spa with indoor pool, tennis courts, gymnasium, clubhouse, bars, restaurants. All properties have either a golf mountain or sea view and have been built to highest standards. Luxury 2 bed Townhouses from €255.000, down from an original price of €390,000 a decrease of 36%.
 
Samara – Set into the hills of Marbella, no expense has been spared and this is luxury Marbella living at its finest.
 
All Samara properties are spacious, light and exquisitely finished, providing everything you need for a luxurious stay. Each property benefits from an open-plan living room which has been carefully designed to maximise the spectacular views whilst still delivering complete privacy.
 
The attention to detail is clearly evident in the finishing touches. Kitchen furniture is by leading Italian specialists Snaidero, electrical appliances Bosch, and each property has a pre-installed Bang & Olufsen audio system. Bathrooms come with under-floor heating and every room benefits from cold/warm air conditioning. Two bed apartments are available from €206,500, previously priced at €360,000 – a massive decrease of over 48%.
 
Banus Beach Gardens – offering a tremendous saving of up to 50% discount from the original launch price
 
An exclusive residential complex of 14 penthouses, 23 garden apartments and 23 first floor terrace apartments situated in over 8.000 square meters of private tropical gardens with lake style swimming pool or relax at your private spa, with its own gymnasium, Jacuzzi, Turkish bath, sauna and fantastic indoor heated swimming pool.
 
Two bed, two bathroom apartments have been dropped to just €470,000.  Previously priced at €950,000 – over 50% decrease.
 
Marina de la Alcaidesa is a stunning development close to excellent restaurants & bars, miles of beautiful, uncrowded beaches, championship 18 hole golf course, shopping and bustling nightlife and within easy reach of the airport.
 
Prices for a 2 bed apartment from €240,000 with up to 69% discount as it was previously on the market for €720,000.
 
Cumbre de los Almendros – a very luxurious high-quality development in the La Quinta & Los Arqueros area of Marbella. An exclusive gated development of 33 two and three bed/bath apartments with spacious terraces and delightful sea and golf views.
 
Each apartment has been individually designed with careful attention to detail. All properties benefit from AC, heating (electric under floor in bathrooms), alarm and electric windows blinds in the bedrooms. The development has both golf and swimming pools within. A 2 bedroom / 2 bathrooms costing from just €239,000. Priced previously at €450,000 giving purchasers the benefit of 47% discount.
 
For more information contact Spanish Hot Properties on 0034 952 799 191 or visit www.spanishhotproperties.com.
 
 
Editors Notes:
 
Who Is Spanish Hot Properties?
 
Very simply they are the leading internet based real estate company in Spain. For every search made for Spanish property on the internet Spanish Hot Property will be in the top 3.
 
Spanish Hot Properties is an authority website on the Spanish property market, helping international property buyers in Spain from all over the world. They have a property finder service and a bespoke design and construction service for clients. No other property company in Spain offers the diversity and choice of products and services which is why 70% of their sales comes from word of mouth referrals.
 
Property is available from as little as €80,000 for one bedroom apartment to €20,000,000 for luxury properties at the very top end of the market.
 
 
 

Viva España! With 7.4% more international tourists, Spain remains top summer destination

by Charlotte Ashton Spain

Glorious rays of warm sunshine, golden beaches, superb culture and laid back living are ubiquitous features of Spanish tourism and the industry seems to have fared well as figures released by the Frontier Tourist Movement (FRONTUR) reveal that Spain has received 7.4% more international tourists this year compared to the same time in 2010.

 

Around 32.3 million international tourists visited Spain between January and July of this year with July alone welcoming 7.5 million foreign tourists with the main markets up to July being the UK, with 7.4 million passengers (35.8%), Germany with 4.2 million (20%) and Italy with 2.2 million (10.7%), while the highest registered increases to Spanish shores in July were from Sweden (40.8%), France (31.6%), and the Netherlands (28.9%).

Indeed, up to July 2011 Spanish airports received nearly 36.5 million passengers, of which 4.4 million arrived on budget airlines, while 43% (15.7 million) opted for a regular airline, with the busiest budget airlines being Ryanair which experienced a 25% increase in air traffic to Spain in July as well as easyJet and Air Berlin who together with Ryanair transported 54.1% of passengers in the month.

With this in mind, the influx of passenger numbers to Spain has of course impacted on hotel occupancy with rates 3 points higher in July than the same period in 2010 according to research firm Magma Turismo.

The study highlights that in July this year hotel occupancy for the Costa del Sol reached 87% compared to 82% in 2010 while the Balearic Islands stood at 85% compared to only 79% last year. Meanwhile, Canary Island hotels experienced a 4% growth from last year standing at 76% while the Costa Brava also increased slightly to 76%.

Of course, the hotel rates reflect the popularity of one of the more traditionally popular regions of Spain, the golden coastal strip of the Costa del Sol in the Malaga province which lures in the largest number of foreign tourists seeing 6.3 million flock to the glittering shores last year according to figures issued by the Tourism Board.

Nick Stuart, Managing Director of Spain’s first and premier internet estate agency, Spanish Hot Properties founded in 2007, comments,

“Of all the tourists who chose to holiday in the Costa del Sol, around 72% said they were attracted mainly by the prospect of sun and sand which will come as no shock considering the regions exceptional climate, luxurious lifestyle, spectacular scenery, state of the art infrastructure, hi-tech communications, availability of low cost direct flights and top healthcare. It is one of only a small number of places in the world where you can spend a morning skiing on the Sierra Nevada slopes and the afternoon soaking up the sun on a beautiful beach.

"Hailed as the ´California of Europe´, the Costa del Sol is an area where the demand for property is proportional to the quality of life and has a strong and proven property market. We have seen a huge surge in demand for luxury homes in Spain worth up to £20 million with 60% of our high- end properties being sold costing between €1.2 – 2.5 million with a large proportion looking for tasteful properties located away from the centre of holiday towns along the Costa del Sol.”

Operating across Spain, Spanish Hot Properties offer something for everyone with a choice of over 15,000 properties from high quality studio apartments to multi-million pound luxury mansions.

Doncella Beach situated right on the shore-line of the beautiful blue waters of the Costa del Sol consists of 85 exquisite apartments and penthouses in 7 elegant buildings with facilities including a Jacuzzi, Turkish bath, sauna, special aroma-therapy showers, gym, yoga room and solarium deck by the effortlessly chic pool bar priced from €799,000 for a 2 bed, €1.6 million for a 3 bed penthouse and €3.5 million for a 5 bed luxury penthouse, quite simply the most luxurious penthouses in Spain.

For more information on purchasing a piece of Spanish heaven on the forever popular Costa del Sol please contact Spanish Hot Properties on 00 44 207 558 8355 or visit www.spanishhotproperties.com. 
 

With a 1.6% increase in house prices and continued economic growth, Albania remains a top investment location for 2011

by Charlotte Ashton Albania

According to Albania’s Central Bank, economic growth in the second quarter of 2011 will be around 3.4%, the same level registered in Q1 2011 with a forecast of lower inflation for the remainder of the year.

Over the past decade, Albania´s economy has enjoyed real GDP growth and despite the economic downturn in 2008, the Balkan nation was one of only two countries in Europe that not only recorded economic growth of 0.4% in Q1 2009 but also an impressive 6% growth from 2001-10, one of the strongest performances to have taken place throughout Europe.

In addition to economic growth, The House Price Index in Albania has once again increased by 1.6% during the second quarter of 2011 with The Bank of Albania stating that from the end of 2009 and throughout 2010, prices remained virtually unchanged indicating stability in the market which will come as positive news for those wishing to invest in property in Albania.

According to Albania’s Central Bank, increases in the house price index, which saw an overall average increase of 13.6% for the entire year back in 2009, are a reflection of the undervaluation of Albania’s currency, the Albanian Lek, and increased prices within the Albanian property market whilst rising demand, improved credit access and an increase in construction permits have also thought to have pushed up property prices.

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s Adriatic coastline comments,

“There are numerous upward forces being applied to land and property prices in Albania – increasing infrastructure investment, EU accession progress and vast differences in property prices between close neighbours such as Croatia.“

Maharajah further explains,

“Considering economic growth and stability within Albania (a recent poll by Arrowtrak of businesses in the region discovered that around 37% were considering investing into the Balkans) and with more overseas investment, Albania will see an increase in expats moving to the area which will in turn boost property prices. For example Lalzit Bay Resort is attracting the attention of the growing middle classes across the Balkans, with at least 70% of units released having already been sold. We have even had to release additional units to meet high demand.”

The 5* Lalzit Bay Resort & Spa can provide the perfect investment opportunity for as little as €29,000 for a gorgeous studio apartment. The resort will provide outstanding on-site facilities including a beach club, tennis courts and a wide choice of delicious international cuisines available in the restaurants.

For more information contact Lalzit Bay Resort & Spa on 0845 125 8600 or visit www.lalzitbay.com
 

Brits still tempted by Turkey accounting for 22% of all property purchases by foreigners

by Charlotte Ashton Turkey

According to official data by the Land Registry Directorate’s Foreigner Affairs Unit, foreigners from a staggering 89 countries across the world have purchased approximately 111,200 estates across Turkey with some 35,249 Brits owning 24,848 properties, putting the UK on a pedestal as one of the most popular buyers of Turkish property followed by Germany and Greece who have also succumbed to the nation’s hypnotic charm.

Further research suggests that foreigners have bought real estate in 76 of Turkey’s 81 provinces with a total of 12,190 properties in the economic powerhouse of Istanbul being owned by foreign nationals.

Meanwhile, in response to buyer demand and according to recent figures from the ReidIn Turkey Residential Property Price Index, the cost of buying property in Turkey is rising steadily with sale prices having increased by 0.83% across the country with a 1.05% rise in Istanbul alone in July this year.

The research also indicates that buyers are searching for new build properties which have been growing in popularity amongst overseas and second home owners showing a 1.2% increase in new build buyers from June to July, 7.29% higher than the same period last year. There are also vast rental opportunities at large across the country seeing rental prices increase by 0.36%.

Ray Withers, Director of Turkish property investment experts, Property Frontiers, comments,

“Turkey is fast becoming an exceptionally popular property choice. At present it is an anchor of stability with a booming economy that is hoped to reach around $2 trillion by 2023, and with the predicted 2.9 million housing units required over the next four years to accommodate the ever growing population, we at Property Frontiers have recognised the flourishing potential of Turkey as a lucrative property investment hub.

“In particular, Istanbul, the pulse of the nation and the western suburbs located around Ataturk International airport such as Beylikduzu, one of the fastest growing areas, presents not only one of the best opportunities for investment but cheaper property price tags than the rest of Europe, making the city even more attractive to potential buy to let investors especially given the increase in rental prices highlighted by the data.”

As a perfect opportunity to capitalise on the positive growth and ever growing popularity of the nation, Property Frontiers has a stunning new key ready development affording 1 and 2 bedroom luxurious modern apartments located in the heart of Beylikduzu.

Available £20,000 below comparable projects in the area, the spacious apartments of Kensington Residence will present tremendously good value for money with an investment of only £16,500 required for a 1 bedroom and £29,000 for a 2 bedroom apartment.

In addition 70% LTV finance is available while investors can enjoy an immediate and guaranteed rental income at 7% for 2 years.

For more information about investing in this European investment thoroughbred please contact the experts Property Frontiers today on +44 (0) 1865 202 700 or visit www.propertyfrontiers.com.
 

Investors rush to snap up luxury units in this season’s only new build development in Meribel

by Charlotte Ashton France

The second home destination of choice by Harry Potter star, Emma Watson and future host of one the Alpine ski calendar’s highlights – the World Cup finals 2014/15, property in Meribel, situated in the middle of Les Trois Vallées, is in high demand as investors rush to snap up luxury units in the only new build development, Les Balcons de la Chapelle, this season.

Heralded as one of the best ski resorts in France by the Daily Telegraph, Meribel, founded by Brit Peter Lindsay in 1983, remains one of the most popular destinations with British ski enthusiasts attracted by the easy access to numerous ski runs within Les Trois Vallées,, impressive lift system and lively après-ski scene.

And now it will be even easier to reach this must-visit ski resort this winter with tickets now on sale for the Eurostar direct ski train which will run from St Pancras, London or Ashford International in Kent straight to Moutiers only 25 minutes from Meribel. Commencing 17th December, trains will run twice at weekends with an overnight service on Friday evenings; return fares available from £149. For those living in the north of the UK, new flights operated this season by low-cost airline, Jet2.com from Edinburgh to Chambery, the gateway to the French Alps and only 80 minutes from Meribel, will also be welcome.

Ski enthusiast, Francophile and Business Development Manager of Terresens, France’s leading eco friendly property developer responsible for Les Balcons de la Chapelle in Meribel, Charlie Williams comments,

“Having been fortunate enough to visit many of the ski resorts in the French Alps, I truly believe that Meribel stands out from the rest. Offering the complete package both on and off the piste, it is clear to see why this Alpine gem holds such great appeal to Brits with visitor numbers continuing to rise and demand for accommodation robust.”

Indeed enquiries for property in the Rhone Alpes in which Meribel is situated has accounted for 20% of all French property requests made to international property portal TheMoveChannel.com so far in 2011 and the winter season has not even begun yet! Ranked one of the 50 most expensive locations for residential property in the world by the Knight Frank Prime Residential Index (2010), property prices reflect the desirability of Meribel with an average of €10,000 per square meter.

Land suitable for construction is at a premium with Les Balcons de la Chapelle the only new build development in the resort this season. The limited number of 2, 3 and 4 bedroom apartments and chalets of Les Balcons de la Chapelle occupy a prime location in the heart of Meribel, just a short walk from the ski lifts, shops and restaurants. Available fully furnished to your specification, these luxurious residences afford stunning views over the valley and la Chapelle Notre Dame.

With prices starting at €720,000 these exceptional residences will appeal to discerning buyers, some of whom may be able to take advantage of Sarkozy’s planned overhaul of France’s wealth tax system next year which sees the threshold at which wealth tax is paid by residents increase from €800,000 to €1.3 million.

To find out more about Les Balcons de la Chapelle in Meribel, contact the developer Terresens on + 44 (0) 203 101 110 or visit www.terresensleaseback.com.
 

Breaking News: 50% Reduction In Property Taxes Provides Boost For New Build Spanish Property

by Charlotte Ashton Spain

The Spanish Government has finally acted with decisive action to boost the new build sector of the Spanish property market by slashing IVA (VAT) from 8% to 4% thus saving a property purchaser a sizeable €8,000 on a €200,000 purchase.

 

News of the 50% reduction in VAT applicable until 31st December 2011, was greeted with an ecstatic reaction from real estate professionals especially those on Costa del Sol, a popular area for new build homes.

 

Nick Stuart, Managing Director of Spanish Hot Properties, located in Benahavis on the Costa del Sol, couldn’t hold back his excitement and claimed that this action would stop some agents going out of business,

 

“It has been fairly clear to us that some agents this summer have been very much on the edge and this news will certainly help them ride the storm out. A reduction in VAT will hopefully spark some movement in the market as new build properties become more affordable.”

 

According to Jose Blanco, Minister of Development, the measure aims to “revive the construction sector” and “contribute to creating employment in the sector most affected” by the recession. Surely welcome news for many Spaniards.

 

For more information on this significant change in IVA rates and to find the perfect new build home in Spain contact Spanish Hot Properties today on +44 (0)  207 558 8355 or visit www.spanishhotproperties.com.

 

NEW VIDEO PR | Introducing Istanbul – Europe’s Premier Buy to Let City

by Charlotte Ashton Turkey

Labelled “Eurasia’s rising tiger” by the Wall Street Journal (July 2011), Turkey has accelerated beyond the belief of many, surpassing the strength of China to become the fastest growing economy in the world with reports of 11% GDP growth in Q1 2011 according to the Turkish Statistical Institute, Turkstat.

 

To find out more click the below image to WATCH VIDEO…

 

 

A plain text version of this press information is also available by contacting Charlotte Ashton on +44 (0) 207 952 7227 or c.ashton@abpropertymarketing.co.uk.