High hopes for Hull as buy to let hotspot of the North

by Charlotte Ashton United Kingdom

As the UK buy to let market gets back on its feet with demand for accommodation remaining high and increased access to funding, shrewd property investors are once again scouting for locations where the key fundamentals of supply and demand are in place and high returns achievable. And it is up and coming cities such as Hull which are capturing investor attention.

 

Officially named Kingston-upon-Hull, this Yorkshire city on the banks of the River Hull and Humber estuary certainly has a great deal going for it right now. Affording a population of around 250,000, Hull retains its heritage as a busy port city, handling 13 million tonnes of cargo per year. In fact freight handling at the port is projected to rise following Network Rail’s investment of £14.5 million in the rail link, which was completed in mid-2008.

 

The port operations run by Associated British Ports (and other companies) employs 5,000 people with a further 18,000 employed as a direct result of the port´s activities. The port area of the city has diversified to compensate for the decline in fishing by introducing the Roll-on Roll-off ferry services to the continent of Europe which handle over 1 million passengers each year as well as exploiting the leisure industry creating a marina from the old Humber Street Dock in the centre of the city.

 

Industry in the city is focused on the chemical and health care sectors. Several well-known British companies, including BP, Smith & Nephew, Seven Seas, and Reckitt Benckiser, have facilities in Hull.  The health care sector is further enhanced by the research facilities provided by the University of Hull through the Institute of Woundcare and the Hull York Medical School partnerships.

 

Overlooking the Humber, the new £165 million Humber Quays development, which has now gained World Trade Centre status, is adding new high-quality office space to Hull´s waterfront.  Kingston upon Hull is also home to the University of Hull, which was founded in 1927 and received its Royal Charter in 1954. It now has a total student population of around 20,000 across its main campuses in Hull and Scarborough.

 

2011 has seen continued investment into Hull with Siemens´ decision to build an £80 million turbine factory marking a major milestone in the city´s history.  Industry on this scale has not been seen for decades; the Siemens factory, to be built on 130 acres of Associated British Ports (ABP) land at Alexandra Dock, could generate up to 10,000 new jobs in the region and will feed into the biggest wind farms the world has ever seen.

 

Alan Forsyth, Director of well-respected property investment company, Property Secrets and experienced buy-to-let investor, comments,

 

“It is due to the positive economic track record as well as future growth potential that we believe that Hull is certainly one city to consider as a lucrative buy to let market from a very affordable starting point. Fully refurbished properties can be secured at up to 20% below official RICS valuations with a minimum 7% rental return.

 

“We have many investors from other parts of the UK attracted by the positive cashflow, and affordable properties here – and are assisting many clients in buying up property portfolios generating passive income on a monthly basis.”

 

For more information about buying to let in Hull and the free viewing trips offered by Property Secrets call today on 0115 985 3963, email us at service@propertysecrets.net or visit www.propertysecrets.net.

British investors capitalise on acute shortage of rental properties in Istanbul as migration rates double

by Charlotte Ashton Turkey

Istanbul’s property market shows no sign of faltering in 2011 as the city’s population continues to soar with the rate of migration more than doubling during 2009-10 according to latest official figures.
Over 102,000 migrants made Turkey’s largest city their home during 2009-10, accounting for 7.7% of Istanbul’s total population compared to 39,500 during 2008-9 reports the Turkish Address-Based Population Registration System (ADNKS).

Alexander Tomlinson, Director of Istanbul property specialists, Gem Invest and long-term resident of the city, comments,

“Istanbul always has held a magnetic draw. Many migrants from the less developed regions of Turkey, often the east and south, relocate to Istanbul for economic factors. Due to its strategic location at the crossroads of Europe and Asia the city has become the economic workhorse of Turkey and people are understandably keen to try and claim their share of this prosperity.”

With a population of nearly 17 million people and still growing, demands placed on the city both in terms of the labour market, transportation and infrastructure, service provision and indeed accommodation are significant. The central business district and financial heart of the city is densely populated with land and property prices amongst the highest in Istanbul driving developers to select alterative locations in which to meet the acute shortage of housing.

And it is to Istanbul’s peripheries and outer suburbs that new housing is being developed and indeed where many Istanbulities, both migrants and natives, are and will reside in the future. The combination of more space, lower land prices and an improving transportation infrastructure has meant that districts, particularly on the desirable European side such as Beylikduzu, are seeing their populations swell.

As Tomlinson comments,

“Both private developers and local authorities have recognised the impact of the near doubling of Istanbul’s positive net migration rates. Various mega-projects have been put forward as possible solutions to needs of the ever growing population but all parties appear to agree that it is to the suburbs of Istanbul that the future lies.”

Districts such as Beylikduzu are already seeing improvements in transportation links; the new Metro link will be completed by early 2012 enabling quicker and easier access to the city centre. Due to its location, wide variety of facilities and future prospects there is a high demand for accommodation in Beylikduzu from young professionals and university students. The rental market in this district moves very quickly with western style, modern residences such as those at Richmond House especially sought after creating a superb opportunity for buy-to-let investors.

Properties in Beylikduzu, whilst seeing up to 30% price growth from off-plan to completion, remain affordable with elegant apartments at Richmond House starting from £50,000 with a 2 year rental guarantee at 7.5% p.a.

Located in the heart of Beylikduzu, just 150m from the new Metro bus line, Richmond House offers boutique modern living. The 1 and 2 bedroom apartments are spacious with luxurious interior features as well as first class on-site facilities such as a fitness centre, cinema and cafe/roof terrace.

As of June 30th 2011 prices at Richmond House will increase by 15% so for more information on how you can capitalise on the acute shortage of rental properties in Istanbul and indeed Richmond House, contact Gem Invest today on +44 (0) 203 287 7440 or visit www.geminvest.net.

Award-winning resort architects Woods Bagot design stunning new 5* Balkan Resort

by Charlotte Ashton Albania

 

Award-winning architects, Woods Bagot, have been working on the Master Plan for the Balkan’s latest 5* resort – Lalzit Bay Resort & Spa, located on the stunning Adriatic coast of Albania.
 
Woods Bagot, who have designed and developed urban and resort masterpieces throughout the world, are working closely with the team of UK based developers behind Lalzit Bay to develop the luxury residential resort complex which is due to deliver the first properties in late 2012. 
 
Lalzit Bay will more than lead the field of residential development in Albania, if not the Balkans, being on a par with other prestigious developments designed by Woods Bagot such as Minthis Hills in Cyprus, winner of the Best Golf Resort and Best Architecture (Multiple Use) CNBC Europe and Africa Property Awards. 
 
Woods Bagot was selected by the visionaries behind Lalzit Bay due to the shared core values each company holds, namely to deliver a functional and operational development that will support cultural needs and create solutions which will work for the developer, the builders and ultimately the owners.
 
With core values such as ‘we build trust and respect to achieve outstanding results’ and ‘we support and mentor to grow opportunities and realise full potential’ it is certainly a partnership that is forecast to yield excellent results.
 
The Project Architect, Chris Savva, from Woods Bagot gave his thoughts on the design of Lalzit Bay:
 
“The aim was to produce a masterplan and concept that provided a destination that fits comfortably within its natural environment. A suburban approach would not be appropriate to the beach location, so the typical planning pre-conceptions were replaced with a philosophy of creating a natural, beach resort.
 
“The site is deep so the challenge was to bring as much value into the site and balance the beach frontage between residences and the hotel. The project phasing was also considered so that the resort can grow over time with minimal disruption.”
 
Savva went on to explain the approach that Woods Bagot has taken towards the project:
 
“We have created a master-plan that gives beach frontage to the hotel and to the front line residences. We have arranged the site so that there is a dramatic entrance overlooking the central garden space. The garden space, with water features allows pedestrians to circulate free from traffic and gives all residences a garden view. Traffic is restricted to the perimeters, giving a clear separation. The front of the site houses the lower buildings so that the rear of the site retains stunning views.”
 
When asked about how Lalzit Bay will integrate with its premium location Savva commented:
 
 “The region features long sandy beaches with sand dunes and these lead back into the flat agricultural plains. We wanted to reflect the regional landscape so the character of the architecture is all about seaside living. The sand dune concept runs through with the use of timbers, stone and glass. Sand is encouraged to penetrate the site and the landscaping features boardwalks and plants typically found around the beach.
 
“The buildings have been positioned to provide views to the sea, the beach, and to private gardens. This sense of connection to the landscape is important for the owners to feel a sense of retreat.”
 
Ecological and sustainable development is important to both Lalzit Bay Resort & Spa and Woods Bagot. Savva describes his company views:
 
“Timber is a natural and renewable material and with the use of stone most of the building materials will be locally sourced. The landscaping will be of local native variety which will help in water conservation. Systems may include harvested water irrigation, solar thermal heating and passive methods such as timber window shuttering.”
 
Ravin Maharajah, Sales Director from Lalzit Bay & Resort was keen to appoint a design architect who had some experience in this part of Europe and Woods Bagot was the perfect choice with previous projects in Turkey, Cyprus and Montenegro in recent years. Maharajah explains:
 
“The resort team at Woods Bagot provide bespoke designs suited to the particulars of each location, climate, culture and site landscaping. They have great experience in this sector and they understand the importance of both the whole ‘Guest Experience’ and the owner’s development plans. This was the perfect recipe for our vision of Lalzit Bay Resort and Spa.”
 
For more information on villas and apartments available from as little as €29,000 in Lalzit Bay Resort, Albania, you can call us on +44 (0)845 125 8600 or visit www.lalzitbay.com. 
 

With 9.1% increase in air travel investing in property on the French Riviera is simply a ‘bonne idée’

by Charlotte Ashton France

The French Riviera with its chic, sophisticated lifestyle, undeniable French charm and not to mention that all-important warm climate is the place to be and be seen this summer.

Rented accommodation in the coastal city is bursting at the seams as visitors flock to world famous events, luring A-list movie stars and influential business tycoons alike. It is hardly surprising that the French Riviera has forever been a popular choice amongst overseas property investors looking to capitalise on a well-tested market.

Having adopted the ‘Life is a Festival’ motto, the French Riviera has an endless stream of events year round making it an ideal buy to let investment location. As The Cannes Film Festival ends, having successfully pulled in a whole host of global movie stars, world press and industry enthusiasts to celebrate the world’s filmmaking delights, the Monaco F1 Grand Prix will begin today, guaranteeing to attract many a petrol head.

As the population of the French Riviera explodes over the summer months, demand for event orientated and holiday accommodation grows with savvy buy-to-let property investors soaking up substantial rental incomes.

Charlie Williams, Business Development Manager of Terresens, France’s leading eco-friendly leaseback property developer, comments,

“Investing in property on the French Riviera is simply common sense. High rental yields can easily be achieved with the large volumes of tourists visiting the French Riviera each year along with the abundance of annual conferences and events taking place especially in Cannes, making the South of France an excellent choice for your overseas property investment.”

He continues,

“The short distance to the UK and the rest of Europe has made France one of the most popular choices for investment property buyers in the world. The market is extremely varied and offers major potential for investors. The South of France is a prime example with the airports of Nice and Marseille offering easy access to the French Riviera all year round, being serviced by low cost airlines such as Easyjet and Ryanair.”

Serious property investors are always on the lookout for key fundamentals that will sustain a market beyond the long peak summer season and therefore the reported increase in the number of commercial, business and helicopter flights in and out of Nice Côte d’Azur airport, with commercial air travel growing by 9.1 per cent and helicopter traffic rising by 4.1 per cent during April 2011, is surely good news.

With talk of A-list residents and private helicopters many would expect property on the French Riviera to come complete with an expensive price tag, however buyers will be pleased to know that there are more affordable options available that still offer the same luxurious quality one would expect.

Leading eco-friendly French leaseback developer, Terresens has just released Residence le Six located in Le Cannet, the business district of Cannes just 10 minutes from La Croisette, affording fabulous on-site facilities including a heated swimming pool and spa and fitness centre. Comprising fully furnished studio and 1 bedroom apartments complete with parking available from just €143,000 investors can enjoy the best of both worlds through the leaseback programme with up to 4.25% guaranteed returns index-linked and personal usage options making this an ideal opportunity pull in weighty returns from the ‘star’ of the French Riviera.

For more information about investing in Cannes please contact Terresens on +44 (0) 2074 714 681 or visit www.terresensleaseback.com
 

New multi-million pound developments in Larnaca spell good news for the future of Cyprus’s tourism industry

by Charlotte Ashton Cyprus

The announcement that Larnaca is set to embark on new multi-million pound development plans spells good news for the future of Cyprus’s tourism industry. 15 projects are planned to take place over the next five years including a 900 berth marina, renovation of the Piale Pashia coastal road, a pedestrian walkway between the popular tourist areas of Pyla and Voroklini, international standard 18 hole golf course, sports complex, open air amphitheatre and an environmental centre at the Salt Lake.

The Cypriot Tourism Board (comprising various interested organisations including the Chamber of Commerce and Cyprus Hotels Association) which announced the plans stated,

“Although Larnaca has always offered plenty to both its residents and visitors, this is being further enhanced with a host of changes the town has recently undergone and will undergo. Big investments such as the new international airport and the creation of three town squares – amongst others – have been a welcome addition, but Larnaca has even bigger plans. Thanks to these changes, Larnaca’s future has never looked brighter.”

These exciting new plans combined with rising tourist numbers (Cyprus saw a 43% increase in arrivals in April 2011 compared to the previous year according to the government statistical service) further support the forecast that Aphrodite’s island paradise may well be on the road to recovery.

Alexander Tomlinson, Director of Cyprus property experts, Gem Invest, comments,

“We are delighted to see that tourism levels are on the rise in Cyprus as more people flock to explore the kaleidoscopic blends of Western European and Middle Eastern cultures and to, of course, soak up some of the 340 days of sunshine!

“Undeniably Cyprus has been affected by the global economic downturn however things are turning around with increasing tourism sparking the property market back into life, especially in an around the popular town of Larnaca.”

Located on the southern coast of Cyprus, Larnaca is the third largest city and home to the island’s largest airport with direct flights to the UK. Already an established tourist destination, Larnaca has an established second home market with residents from all over Europe and indeed the world. Nearby Pyla, a quaint and historical village inhabited by both its original Greek and Turkish Cypriots, in particular is receiving interest from property buyers.

Offering a host of beaches, hotels, bars and restaurants and being only 10 minutes from the airport, new golf course at Terssefanou and Larnaca town centre, Pyla presents the ideal second home location. Developments such as the luxurious Aqua Residence are extremely popular with 1 bedroom apartments starting from €172,941 and a rental guarantee of 5.05% for two years.

As Tomlinson explains,

“Our new unique contemporary and stylish development – Aqua Residence – is sure to be extremely popular with increasing numbers of tourists wanting a mixture of tradition and contemporary luxury. Aqua Residence will certainly set new standards in property development and combined with the many appeals of Cyprus itself such as its British based legal, accountancy and banking system, low 5% tax regime for foreign residents, 10% Corporation Tax and promises of increased visitor numbers, potential investors will be wanting to claim a piece of the pie and reap the rewards.”

For more information about buying in Cyprus or indeed Aqua Residence please contact Gem Invest on +44 (0) 203 287 7440 or visit www.geminvest.net.

It’s back to school for investors. Why student accommodation is top of the class!

by Charlotte Ashton United Kingdom

At present, there is an estimated 2.4 million higher education students in the UK and this is expected to increase further in the next academic year. Applications for entry in 2011/12 are 2.1% higher than the same time last year according to the latest figures from UCAS (April 2011) with the increase in applications thought to have been triggered by students rushing to get a place at university before the proposed rise in tuition fees is introduced in Autumn 2012.

With already large numbers of higher education students in the UK combined with the increase in applications, the limited student accommodation stock available in and around university towns is under pressure. This however presents a lucrative opportunity for savvy buy to let investors.

As Alan Forsyth, Director of highly respected property investment agency, Property Secrets comments,

“From greater demand for accommodation pushing up prices comes greater potential to make large rental returns from investing in high quality student accommodation located in cities where respected universities are based. According to research by Knight Frank, rentals in the student housing arena remain healthy with a recorded growth of 5% per annum over the last six years compared with only 0.6% for commercial property.”

Astonishingly, university maintained properties have only met 23% of student demand for beds with the accommodation currently offered by many universities often outdated and inadequate. Independent research conducted by Knight Frank has also highlighted that only 50% of all students in the UK have access to high quality purpose-built student accommodation.

Interestingly the latest figures from UCAS report an increase in the numbers applying for university later in life. A 6.2% rise in 19 year old applicants has been seen for the 2011/12 academic year as well as a 4.8% rise in 20 year olds, 4.5% for 21 year olds and 4% for 24 years old, the majority of whom in this age group expect a higher standard of living. With this in mind, the focus is now on building new high quality student housing developments as private operators join forces with universities to take advantage of the rising demand.

Alan Forsyth continues,

“Student accommodation is said to be the single largest untapped real estate market in Western Europe and with conditions as it is, now is the perfect time to invest. The city of Manchester has been dubbed a top spot for investment in this sector, ranked number 7 in the Knight Frank Student Report 2011 for best cities with the strongest investment potential in the UK.”

In Manchester, according to CB Richard Ellis, multinational commercial real estate advisor, students are underprovided for and forecasts that the development arena is “ready to go again” presenting a genuine opportunity for developers. While roughly 79,000 students attend universities across Manchester, only 27,195, some 34%, of them are housed in private rented accommodation.

Manchester is a rapidly developing city where a rising student population has driven several major new schemes to emerge with significant investment being made in the Ancoats and Spinningfields areas.

With a booming market and high rental yields to be enjoyed, (typically 6-10% gross) buy-to-let property experts, Property Secrets, are offering the chance to invest in a hands off, hassle free opportunity in Montgomery House, a student accommodation block in the Whalley Range area of Manchester, ideally situated on the edge of Alexandra Park with access to both the leafy suburb of Chorlton and the city centre.

Consisting of 240 individual bedrooms as well as bathrooms, kitchens and living areas priced at just £24,000 for a student pod with a rental guarantee for the first year, this is a fantastic opportunity to invest in a lucrative and secure development destined to make significant returns.

For more information please contact Property Secrets on +44 (0)115 985 3963, email info@propertysecrets.net or visit www.propertysecrets.net.

Choose leasebacks to avoid proposed new tax on second homes in France say experts

by Charlotte Ashton France

The news of a proposed 20% tax on second homes in France owned by non French residents has caused some concern for potential property buyers in recent days; however experts advise that leaseback properties which, as part of the French government program established in the late 1960s, are rented out for a set period each year, will avoid this equivalent of a second tax.

 

Charlie Williams, Business Development Manager at Terresens, one of France’s leading eco-friendly leaseback developers, comments,

 

“The proposed changes by the French government to the taxation of non-French resident property owners which if passed will come into force from January 1st 2012 appear very popularist proposals to win votes in an election year. They do not attract foreign investment, may conflict with EU principles and therefore may well not be agreed.

 

“Potential property buyers should not be put off buying in France as leaseback properties, by their very nature, will be exempt from this proposed new tax.”

 

Highly respected property lawyer, David Anderson from Sykes Anderson LLP, echoes this advice, saying,

 

“If the property is rented and so not freely available to the owner the tax will not apply. This means leasebacks will not be affected.”

 

Leasebacks have risen in popularity in recent years compared to classic second home purchases in France due to the security they offer. Leaseback purchases offer owners the best of both worlds, freehold ownership of a property in France, guaranteed rental income (index linked) derived from the lease of the property to an appointed management company as well as personal usage throughout the year. In addition VAT is refunded, a considerable saving of 19.6% for buyers.

 

As Charlie Williams explains,

 

“France will remain one of, if not the most popular choice for second property abroad with Brits and indeed many other nations. Leasebacks offer a safe, secure and hassle-free way of owning a home in France and its exemption from this proposed new tax is further evidence of the program’s merit.”

 

For more information about the proposed new tax and buying leaseback property in France contact Terresens today on +44 (0) 2074 714 681 or visit www.terresensleaseback.com.
 

Tourist numbers expected to rise as visitors flock to explore the magic of Albania

by Charlotte Ashton Albania

Once perceived only as a place that the daring and brave would visit, Albania is now coming into her own, exposing all her geographical wonders and historical wounds to the intrigued masses in search of something rare and unspoiled. It’s no wonder then that Albania’s tourist guide has been falling off the shelves when the country was declared the number 1 in the Lonely Planet’s Top 10 destinations for 2011.

Ravin Maharajah, Partner of the 5* Lalzit Bay Resort & Spa in Albania comments:

 
“Tourism in Albania is at such an exciting stage in its life cycle. It’s a very exciting time to be involved in the country. We are seeing rapid growth in tourism along Albania’s coastline – and expect it to go from strength to strength as this little known slice of the Mediterranean increases in popularity.

“Indeed, major UK tour companies like Saga are now bringing in British holiday-makers keen on seeing the delights that Albania can offer.”

Durres, one of the most popular destinations in Albania is the second largest city as well as one of the oldest and most financially important ports in the country. An estimated 600,000 international tourists every year are drawn to Durres by the warm sea waters, sandy beaches and wondrous abundance of historical must-sees such as the Byzantine Forum, Roman Thermal Baths and City Walls.

The Adriatic is a very popular yachting destination and The Mediterranean Boat Show will be taking place in Durres on the 11th and 12th June and will serve all countries bordering on the Adriatic and Ionian coasts as well those located around the Mediterranean Sea. This event will certainly bring a great number of boating enthusiasts to Durres helping further to build Albania’s tourism market and indeed its economy.

In addition, Durres is now more easily accessible with a new duel 4 lane motorway connecting the second city to the capital Tirana and on to the Kosovan border, further boosting tourism. And it is such growth that is spelling positive news for Albania´s property market with evidence of more and more potential property investors being attracted to the emerging market eager to reap large rewards.

The Albanian government too is actively encouraging property and hotel development in primary locations along the coast to accommodate the increased arrival of visitors. Lalzit Bay, just north of Durres, is one area that is certainly feeling the benefits of increased visitor numbers and direct foreign investment.

Partner of Lalzit Bay Resort and Spa, the luxury beachfront resort development in the heart of the bay, Ravin Maharajah further adds,

“At Lalzit Bay Resort and Spa we are offering savvy investors the opportunity to become a part of this growth economy. Investors can purchase studios, one or two bedroom apartments or villas in a divine Mediterranean location from as little as €29,000, a fraction of the cost of buying a home in one of the more established European resorts. Owners also have the benefit of a fabulous beachfront holiday resort to enjoy with family and friends or to rent out to holiday makers.”

Lalzit Bay Resort and Spa will provide 5 star amenities, service and first rate luxury, making it one of the most desirable resort destinations in the Eastern Mediterranean as well as an attractive investment choice with strong rental opportunities.

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

Increased demand for holiday homes creates excellent opportunities for buy-to-let investors in Cornwall

by Charlotte Ashton United Kingdom

Cornwall, the English Riviera, once considered just a place for a summer vacation or weekend getaway is now proving to be a sound property investment location according to experts. The market, undoubtedly on the ‘sluggish’ side back in 2009/2010 is now experiencing strong demand for holiday homes to rent in Cornwall as well as other coastal towns in the South West according to Knight Frank, with demand up by almost 70% compared to 2010.

With spiraling costs of family holidays abroad, often over £1,000 for a typical family, it is predicted that Cornwall, voted Best UK Holiday County at the British Travel Awards, will be receiving a boost this year in tourism levels. Visitors are attracted not only to a cheaper price but to Cornwall’s balmy climate, rugged and peaceful countryside and coastal walkways, in addition to its excellent surfing spots and popular celebrity restaurants, further enhancing its popularity.

The rising numbers deciding to holiday in Cornwall has resulted in an increased demand for holiday homes to rent and with the busy summer months in our midst, this could provide a big incentive for buy-to-let investors.

With nearly a third of landlords in the UK increasing their rents at the beginning of 2011, with approximately 5% boosting their income by over 8%, there are obvious rewards to be had. This has led to rental property at the lower end of the market becoming very sought after with 18,000 families registered as looking for low cost houses to purchase or rent in the county.

Currently, North Cornwall, as visited by PM David Cameron, is proving to be an excellent property hotspot with an extensive housing inventory at the lower end of the market.

The charming seaside hamlet of St Eval on the North Cornwall coast, located between Newquay and Padstow, is an up and coming area, said to be luring in potential buyers by offering spacious, good quality properties at competitive prices.

Presenting the perfect property investment opportunity in St Eval, Property Secrets have 3 bedroom semi-detached family homes with freehold parking space available. These properties are set to be 35-45% below open market value upon completion of works and 50-60% below neighbouring village prices with a total outlay of £103,000 including legal, sourcing and refurbishment costs as well as a potentially high rental yield upon completion.

For more information on the lucrative buy-to-let opportunities available in Cornwall please contact Property Secrets on +44 (0)115 985 3963, email info@propertysecrets.net or visit www.propertysecrets.net.

The best of both worlds – why now is the right time to buy in Florida say experts

by Charlotte Ashton United States

The real estate market in Florida has undeniably been in decline since the heady boom years of 2006/7 however with property prices now reaching levels seen nearly a decade ago, it is savvy international buy-to-let investors who are snapping up prime properties at bargain prices. 

Floridian property experts Property Frontiers believe that the sunshine state has finally reached the bottom of the cycle and that home prices will slowly but surely begin to once again increase. This feeling is echoed by the Florida Association of Realtors (FAR) who has reported a 24% increase in existing home sales in March 2011 compared to the same time last year.

"A variety of housing opportunities are available at attractive prices across the state, while mortgage interest rates remain historically low," said Patricia Fitzgerald, 2011 Florida Realtors President.

Condominium style properties in particular are leading the way for sales with 9,703 units sold in March 2011 alone and it is foreign investors driving this come back. Non-US citizens, especially European residents are seeing low bank interest rates in their home countries and Florida today offers exceptional value for money in terms of the size and specification of property that you can purchase, the positive prospect of market recovery as well as homes offering appealing returns. Buyers can become the proud owners of a four bedroom condo with pool close to Disneyland for $150,000 in today’s market; prior to the market crash these properties would be sold for at least double that.

Florida remains one of the most popular global holiday destinations, something that British Airways is capitalizing on by increasing their long haul flights to Tampa to a daily service in response to the demand for travel stateside. This continued popularity for Florida tourism, some 82.6 million visited in 2010, an encouraging 2.1% increase on 2009 numbers, reinforces why buy to let investors with a keen eye on the market are now dipping into their pockets to secure their Floridian bricks and mortar, right at the beginning of the recovery in order to make maximum returns.

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

“As with every market the old adage reins true of location, location, location. It is important for buyers not to be blinkered by some of the really cheap deals on offer in Florida; most of the time, cheap is simply cheap. You won’t attract the crucial holiday rental market to a low specification property in an out of town location, also the poorly located properties will be the last to come through the market depression and at a time when on the whole the property market appears to be at rock bottom spelling future positivity for investors, this would be a critical and costly mistake to make”.

Highgate Residences at Regal Palms for example in Davenport, just one hour from Tampa, unlike many below market value property offerings, is zoned for short term rentals which allows owners to let to holiday makers seeking fun and adventure at the nearby themes parks such as Walt Disney World and Sea World. These holiday lets will earn investors a guaranteed 8% net yield per year with only a modest 64% occupancy rate required to achieve this. Highgate Residences is a turnkey and hassle free investment opportunity which also offers plenty of personal usage for owners so they can make the most of their 3 or 4 bedroom upscale townhouses.

A limited number of townhouses are available at Regal Palms from $99,000 so contact Property Frontiers today on +44 (0) 1865 202 700 for more information or visit www.propertyfrontiers.com.