Buyers Guide to Albania – 10 easy steps

by Charlotte Ashton Albania

 Albania – a new destination in Europe that is quietly making an emergence

 

Since the end of the Balkan war and independence in the early 90’s the Balkans have started to open up to tourism.  Thus far, it has mostly been back packers and intrepid travellers who have made their way through this fabulous country. 

 

Albania has had a bad reputation internationally and has been plagued by social and political problems.  Currently the country is undergoing a massive internal change, huge amounts of investment have been poured into the infrastructure, the government is working with overseas advisors to implement change and there is a definite desire to be on a par with their neighbours such as Greece, Croatia and Italy.

 

The FT and The Lonely Planet Guide have listed this country as the top European destination for 2011 and there are many reasons why they are spot on in their estimations.  Greece and Italy have been loved by tourists for decades and there is every chance that Albania will achieve the same accolades once it has had a chance to shine and show the rest of the world what a fabulous destination it is. 

 

So what is it about Albania that has made Lonely Planet put this nation at the top of the list?  Could it be the enormous potential for tourism that is about to erupt?  This nation encapsulates an ancient history, beautiful landscape, a rich anthropology, traditions and culture.  The Albanians are famous for their warmth and hospitality and the country has a vibrant, young society which should be a recipe for success.

 

Top ten considerations to buying overseas property and why Albania is the property hotspot for 2011:

 

1.             Accessibility – can you get to your new property without it costing you a fortune or taking you days?  If you can’t than neither can your potential clients who might want to rent it… Albania has affordable low cost airlines flying from London airports weekly including the popular Belle Air.  During the summer months when you are more likely to want to travel then the options for getting there increase. Plus two new airports are planned to open in Kukes and Saranda.

2.             Location – Once you have landed it is important that the transfer to your new holiday home is simple and hassle free.  Not all of Albania is easy to travel around although there is a great deal of investment being poured into infrastructure currently.  Lalzit Bay Spa and Resort is just a 30 minute drive from Tirana International Airport making it a terrific choice. Albania as a whole is also fabulously located in Europe to be a stepping stone to other European and Baltic countries to continue your exploration!

3.             Affordability – non Euro is still a great bet.  Obviously you will have set yourself a budget for this purchase but everyone likes to make a profit and buying in a non-euro zone does increase the opportunity for profiting greatly. Albania has some of the lowest property prices in Europe, even in the capital Tirana city “cheaper” apartments can be bought for €500 to €800 per square metre according to the Global Property Guide.

4.                   Country infrastructure – buying a property in the depths of nowhere might seem a great idea for a holiday escape but if you are hoping to let the property out then will others feel the same way?  It makes sense to ensure your investment is in an area where there is a good road and rail network to open up the availability to as many people as possible to rent your property.  Albania has had massive overseas investment which has resulted in a huge overhaul in transportation.  For instance 100’s of km of new roads, new ports, overhaul of the rail network and expansion of the International airport of Tirana

5.             Environment – having an overseas property near a beach is wonderful but that is not the be all and end all.  By the time you have visited your property a few times you will want to explore further afield.  Albania currently has two UNESCO World Heritage sites and there are a further three on the list waiting for approval.  Albania is blessed with some of the most beautiful countryside and mountains in Europe and it would take a person a lifetime to explore all that it has to offer.  How exciting to know that every time you visit your holiday home you can conquer climbing another mountain; go white water rafting, horse back riding or visiting a cultural site.

6.             Reputable Sales Agent – quite possibly the most terrifying bit of the entire procedure is getting this bit right.  Here are some do’s and don’ts to help you

·         Do thoroughly check all the project details

·         Do compare closely with other projects

·         Do have the contract checked by a solicitor

·         Don’t pay anything until a contract is in place

·         Do visit the site for a look around

·         Do insist on building progress updates regularly

·         Do inspect the property for snags before making final payment

7.             On-going property costs – a consideration that is often neglected on purchasing a property.  It is no fun buying an affordable property and then discovering afterwards you cannot really afford the water or electricity.  Labour costs in Albania are currently one of the lowest in Europe which is a great benefit when having work done.  Albania has significant renewable energy resource potential from hydro, wind and solar energy.

8.             What else is there to do – Often people buy properties and within a few years they have grown bored of the same view and beach.  It is a good idea to chose somewhere with diversity. Albania offers 362km of mainly untouched coastline on the Ionian and Adriatic Seas.  But is also offers skiing, trekking, caving, horse riding and much, much more.  Tourism in Albania is still in its infancy but there is a great deal of almost untouched cultural sites which will develop as tourism develops within the country.

9.             Economy and Tourism – Albania is well on the way to EU accession and has a target accession date of 2014, this will have a tremendous positive effect on property prices. The government is also pouring a lot of investment into the tourism sector which will further boost the economy in years to come. Government figures have estimated that the country will have received 3 million visitors in 2010 and The World Travel and Tourism Council expects this to grow by 5% every year until 2019.

10.          Rental Opportunity – There are many countries in Europe that are currently flooded by oversupply of rental property – making it almost impossible to earn any rental income from an overseas investment.  Emerging markets like the Central Baltic’s have the reverse and in fact suffer from a lack of accommodation that can offer luxury.  Lalzit Bay Spa and Resort offers a completely unique opportunity that cannot currently be found anywhere in the emerging Baltic states.

 

Without a doubt one of the most exciting innovative developments underway in Albania is Lalzit Bay Spa Resort.  Fully managed by an internationally renowned resort operator, Lalzit Bay Resort and Spa will provide 5 star amenities, service and unqualified luxury, making it one of the most desirable resort destinations in the Eastern Mediterranean.

 

According to Ravin Maharajah, Sales Director of Lalzit Bay & Spa Resort: “It is incredibly important to Albania that new developments being offered to foreign investors have the right international feel.  It would be very easy to build mediocre developments but this is not going to attract long term investors and at Lalzit Bay Resort we feel that would be a very short term gain for the country” he goes onto say: “We are very proud of the development of Albania thus far and we are working very hard with tourism agencies to keep the positive momentum going.”

 

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

Albania opening new flights to London Stansted

by Charlotte Ashton Albania

 

New flights to commence from Albania to Stansted with Albania’s own Belle Air
Belle Air is a privately owned low cost airline which operates out of Albania. The company was founded in 2005 and is based in Tirana – Albania’s beautiful capital city.
The inaugural flight will take place today – December 16th and two flights a week will operate on the winter timetable up until March 2011.
Belle Air currently runs services to Germany, Switzerland and Italy. Ravin Maharajah, Sales Director of Lalzit Bay & Spa Resort said: “These flights reinforce Albania’s growing position with the UK market in terms of both tourism and property purchasing. Albania is also celebrating this week as it has officially joined the Schengen Area Agreement allowing visa-free travel for residents throughout the 25 member states.”
 
As reported by Associated Press Albanian Prime Minister, Sali Berisha commented on the visa-free regime saying it was the ‘country´s second major achievement after the fall of communism’.
 
Albania is at a turning point and overseas investors are watching closely to see how this country develops. Savvy investors are already cashing in on this growth market with property developments such as Lalzit Bay Resort & Spa, a coastal holiday resort to rival that of more established Mediterranean destinations. Maharajah goes onto say: “Access to Albania has been easily available via British Airways from London Gatwick and Austria, Lufthansa and Ailtalia from London Heathrow, but new flights opening from Stansted will allow more visitors to travel to our hidden gem in Europe.
 
“Many people have no idea of the wonderful beaches and scenery in Albania and our resort in Lalzit Bay, just 30 minutes from the capital Tirana, is set to be one of the most luxurious destinations in the Eastern Mediterranean. With apartments available from just €50,400 this is such good value and they are selling quickly.” 
 
For more information contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.
 
Editors Note
A luxurious 5 star village in what will become the most exclusive beach community in Albania.
The resort will benefit from a beach club, sports and tennis club. A spa and wellness centre will include numerous steam rooms and full range of thermal treatment room.   An indoor hydrotherapy pool as well as more traditional indoor and outdoor infinity pools situated around the resort. Shops and boutiques catering for all tastes and an excellent selection of restaurants offering a range of different cuisines.
Apartments available – 1 or 2 bedrooms – start from just €50,400. Villas available – 3 or 4 beds – from €234,000. For more information contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.

EU Accession – Effect on Albania’s property market

by Charlotte Ashton Albania

 

Joining the EU over the past decade has led to staggering effects on a country’s property prices. For instance property prices in Estonia trebled on entering the EU, the Slovak Republic and Slovenia saw property prices double and Cyprus saw a 40% increase.
So how might Albania’s property market react in 2014 when it joins the EU?
Since 2008 the economic crisis hit almost every country in the world with force. However several economies have already started to recover and the news is looking good for the Balkan states.
Forecasts by experts say that the Balkan Penninsular will start their recovery in 2011 and they are confident that it is time to invest. Activity in the private sector has recently showed an increase in merger and acquisition transactions as well as restarting property developments which had been purchased before the crisis. Experts believe that real estate will be the first sector to benefit from this recovery.
In a recent poll conducted by Arrowtrak of businesses in the region, it stated that: “37% are considering expanding into the Balkans, investing or creating a joint venture within the next year.” This potential surge of investment will have the effect of increasing wealth in the relevant countries. With more overseas investment Albania will see an increase in expats moving to the area. This will benefit property prices, particularly focusing on areas where they will live and weekend away.
One such development is Lalzit Bay Resort and Spa. This development is being fully managed by a resort operator and will provide 5 star amentities to its guests. Ravin Maharajah, Sales Director, says: “Lalzit Bay will be one of the most desirable resort destinations in the Eastern Mediterranean. Its first class accommodation and leisure facilities will come with cutting edge design, exceptional quality and an attention to detail not normally seen in Albania.”
Albania is working very hard to change it’s image and is confident that by 2014, as it enters the EU that it will be considered a “new-era” destination hot spot, that will appeal to far more than just the intrepid traveler..
Albania’s Prime Minister, Sali Berisha, has pledged “to attract greater foreign investment and development”. He is welcoming expansion programmes such as Lalzit Bay, bringing with it jobs for local people, foreign wealth and a touch of class and sophistication that has not been seen in this country before. With a strong leader such as Berisha, it is not surprising that Albania can claim to have doubled the national income over the last five years.
More good news for the Balkan States is that the European Union Ministers have said visa requirements for Albanians and Bosnians will be lifted starting in December 2010 as the two states work towards EU membership. This signals very positive messages to these two countries that are working so hard towards their EU accession.
The air of optimism is blowing in the Balkans, and the smart money is alreadytaking advantage of this unique situation before the window of opportunity narrows.
Apartments in Lalzit Bay Resort & Spa are available from just €50,400. Villas are priced from €234,000. For more information contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.

Albania launching Quality Rating for Tourism

by Charlotte Ashton Albania

 

Albania’s tourism is a major factor in helping to turn the country into a modern European country. A recent meeting, which included business heads for Albania and experts from overseas, has set into motion a plan to increase the country’s profile.
 
Captains of the tourist industry in Albania have created criteria for all business within this industry to work towards. These criteria are to be known as The Global Sustainable Tourism Criteria (GSTC) and are a set of 37 voluntary standards which should help local businesses increase their revenue and success. 

Albania needs to work at protecting and sustaining the world’s natural and cultural resources; of which it is bestowed with many. It is very important that, as their tourist industry starts to build, a strategy is put into place so that tourist income coming into the country is channeled into poverty alleviation and protecting what will undoubtedly become a country known for its natural beauty, stunning beaches and hospitality.

 
Ravin Maharajah, Albanian resort developer, is thrilled with the news. “Albania’s tourist industry is crying out for some direction. For many Albanian’s who may not have been outside the country and will not have had the benefit of seeing how other tourist areas operate, these northern European influences are sure to be extremely beneficial. This set of criteria offers simple and useful advice to small businesses to help them up their game plan.”
 
Maharajah goes on to say: “At Lalzit Bay Resort & Spa we are very keen for all companies within the tourism and related sectors to make a success of their businesses. The better they are – the better we all look. We are keen for the whole country to work together in making Albania one of the must-visit  places to visit in Europe.”
 
Albania’s tourism has grown significantly over the past year and expectations for 2011 are extremely high. Over 200,000 Albanians are currently involved in the industry and this figure will see a natural rise as the country becomes more popular.
 
Mirroring the thoughts of Ravin Maharajah is the Mission Director of USAID who remarked: “Tourism in Albania is at a critical juncture and choices being made today are important.” He went on to say “The Global Sustainable Tourism Criteria and Authentic Albania Quality Mark program are good ways to ensure that tourism in Albania is sustainable and based on international trends and best practices.”
 
These ratings will be launched in the next few months and will initially target accommodation businesses.  Hotels and accommodation will be evaluated based on the Global Sustainable Tourism Criteria and then be awarded a gold, silver, or bronze classification that will be published on travel sites and in brochures and publications for foreign tourists. 
 
The Authentic Albania Quality Mark will become an important marketing tool for new and expanding businesses in the tourism sector as a mark of quality and customer service. It should serve as a guide for visitors to ensure they can maximise their visit.
 
The Prime Minister of Albania, Sali Berisha, recently met with the Secretary-General of the World Tourism Organisation and in a press conference the PM spoke of his hope that Albania would be able to set an inspiring model to other European countries.   He said “We discussed at length about the extraordinary tourism potential of this country, the main directives of the government of Albania for development of this potential, the determination of this government to cooperate closely with the World Tourism Organization. A few years ago this country was not at all on the world map of tourism, but has managed to develop sustainable tourism with the green philosophy, to develop tourism of this century.”
 
Currently Albania has three world heritage sites listed but this is a drop in the ocean for the number of potential sites here. The country has a hugely diverse terrain, from beautiful beaches, to deep gorges and ravines, stunning mountain ranges and lush meadows. This county will become a play ground for adventurers and a haven for those looking for some R&R on a beach. 
 
Maharajah spoke of his excitement for this up and coming Balkan country: “There is so much untapped potential in Albania and the opportunities are endless. I sincerely believe that the local and international communities will make the very best use of this and that we will build a place that tourists will want to visit for decades ahead. 
 
Speaking of his own efforts to sustainable tourism, Maharajah continues: “Our development is situated in 20 hectares of frontline land with 300 meters of private beach. We are only building on 25% of the land to maintain a feeling of luxurious non-crowded surroundings. Lalzit Bay itself is 10km in length, boasting golden sandy beaches and surrounded by distant mountains. The sea is shallow, calm and gently sloping ensuring perfect conditions for families. This is a place where people will feel very proud to own property.
 
“The resort will benefit from a beach club, sports and tennis club and a wellness centre with fabulous facilities. We are also building shops, boutiques and restaurants catering for all tastes with a variety of cuisines.”
 
Apartments in Lalzit Bay Resort & Spa are available from just €50,400. Villas are priced from €234,000. For more information contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.
 

Philippines prepares for prosperity in 2011

by Charlotte Ashton The Philippines

 

As we leave behind the ferocious year of the Tiger and embrace the more restful year of the Rabbit, the Philippines is busy preparing itself for prosperity in 2011.
 
According to the Philippines property investment experts at Experience International, the ‘Pearl of the Orient’ presents strong fundamentals for success with a robust economy, increasing levels of foreign direct investment, booming tourism and a thriving property market and will play a key role in Asia’s exit from the global recession. 
 
As Steven Worboys, MD of Experience International, comments: “The Philippines holds a great deal of potential, with a wealth of natural resources, a dynamic and progressive business outlook and a population committed to future prosperity, 2011 is set to be a fortuitous year for this Asian nation.”
 
The Philippines’ economy has remained robust over the last 12 months with 6.7% GDP growth reported in Q3 2010 and 7.7% growth year-on-year (National Economic and Development Authority). Indeed the international credit ratings agency, Standard & Poor’s upgrade of the nation’s long-term foreign currency credit rating by one notch to BB was a “statement of confidence on the country’s bright prospects moving forward” said the Governor of the Central Bank of the Philippines.
 
Confidence in the economy remains on display through the ever increasing levels of foreign direct investment for example the new IBM outsourcing centre in Manila which opened this month. The Philippines has now overtaken India as the call centre capital of the world with revenues of $12 – $13 billion expected in 2011 rising to $100 billion by 2020.
 
Another sector which is significantly boosting economic performance is the tourism industry. The tropical paradise that is the Philippines attracts visitors from all over the world but it is becoming increasingly popular with the British. From January to July 2010 visitors from the UK posted an amazing 11% growth rate leading to expectations of over 100,000 British visitors by the year’s end (Philippines Department of Tourism, 2010).
 
Responding to demand from not only the multi-national companies opening offices in the Philippines but also the increasing numbers of tourists to the islands seeking accommodation, the Philippines property market is experiencing an upswing.
 
Property management group CB Richard Ellis Philippines recently heralded the strength of the real estate sector remarking that “foreign Investors are showing increased confidence in the real estate market due to favourable macro-economic factors such as 8% growth, record remittances, a young and highly educated population, one of the best performing stock markets in Asia for 2010”.
 
And this is a view shared by the experts at Experience International who are seeing their project on the perfectly profitable paradise of Mactan Island selling out very rapidly.
 
The 5* Blue Coral Resort & Spa is a frontline development with first class facilities overlooking the crystal clear waters of the Bohol Straits. The newly released hotel suites, studios, 2 bed apartments and 2 bed luxury pool villas start from $83,500 with an impressive 21% guaranteed annual income. In addition 60% non-status finance is available and the resort will be managed by a world-leading tour operator guaranteeing 80% occupancy.
 
For more information on investing in the prosperous Philippines in 2011 and indeed the Blue Coral Resort & Spa contact the experts at Experience International on +44 (0) 207 321 5858 or visit www.experience-international.com.
 

London’s Hotel Market Continues on Road to Recovery with 8.5% Growth Recorded in Q2 2010

by Charlotte Ashton United Kingdom

 

London’s hotel market continues on the road to recovery post recession as the Deloitte Q2 2010 Hotel Market Outlook reports sustained growth in revPAR (revenue per available room).
 
An impressive 8.5% growth was recorded in Q2 2010, on par with the near double-digit growth of 9.6% seen in Q1 2010, with an average £102.27 generated per room per night.
 
Steven Worboys, MD of property investment experts Experience International, who are marketing rooms in phase 2 of the new West India Dock Road for which Holiday Inn has been selected to operate, comments,
 
“In line with growth in the UK economy (1.2% increase in GDP during Q2 2010), London’s hotel market is on the rise once again. The Capital continues to outperform major European cities including Madrid, Rome, Brussels, Berlin and Amsterdam with occupancy rates for Q2 reported at 82.7% and 80.3% forecast for 2010 as a whole.”
 
The positive start for the sector in the first half of 2010 is expected to continue with Deloitte predicting a 12.3% increase in revPAR in Q3 in part due to the Farnborough Air Show being held near London this July. Looking further ahead, in the run up to the London 2012 Summer Olympic Games, occupancy rates for 2011 are forecast at 77.7% and hotel prices set to double according to market intelligence company, Rubicon.
 
Steven Worboys concludes,
 
“The outlook for London’s hotel market over the next few years is very promising. The London Plan has outlined the need for some 50,000 additional hotel rooms in the Capital by 2026 and global chains such as Holiday Inn, the leading brand of the largest hotel operator in the world by number of rooms, InterContinental Hotels Group, have already committed to meeting this demand through being appointed as the operator of new, high quality and strategically located hotels such as the Holiday Inn West India Dock Road.”
 
Available at 19% below the official independent RICS commercial valuation and offering 10.7% net yields by year 5, the Holiday Inn West India Dock Road, located adjacent to Westferry DLR, will offer high quality rooms and a number of executive suites. In addition guests can enjoy first class on-site facilities including the restaurant, café, bar, gym and 300 sqm of conference space.
 
Occupancy rates are forecasted conservatively at 70% in year 1, rising to 80% from year 2 onwards and revPAR is expected to reach £98 in year 5. Phase 1 sold out earlier this year within 4 weeks but investors can now purchase units in the newly released Phase 2 from £189,000 with non-status finance available.
 
For more information about investing in London’s thriving hotel market and the Holiday Inn West India Dock Road, call Experience International today on + 44 (0) 207 321 5858 or visit www.experience-international.com.
 
 

Turkey’s Exceptional Economic Performance Will Continue to Attract International Property Investors in 2011

by Charlotte Ashton Turkey

 

2010 has been a defining year for Turkey with the nation firmly establishing its presence on the global stage, boasting record tourism numbers and a booming real estate sector. But it is the exceptional economic performance of the land where east meets west that will continue to attract international property investors in 2011 according to experts.
As Steven Worboys, MD of the Turkish property experts at Experience International explains,  
“International real estate still remains one of the most popular investments available but many buyers have been stung in the past and are now more cautious, seeking out markets with secure economic fundamentals and developments with realistic returns. Turkey’s economic performance over the past 12 months speaks for itself with over 8% GDP growth expected for 2010 according the latest OECD report and remaining above 5% in 2011 and 2012.”
Praise for side-stepping some of the worst effects of the global recession has been laid at the door of Turkey’s banking system which was recently upgraded by international credit ratings agency Moody’s. In addition Fitch Ratings has raised its outlook on Turkey from “stable” to “positive” affirming them as “BB plus” further boosting investor confidence.
The Istanbul Stock Exchange (ISE), which currently ranks 6th most profitable in the world gaining 4.5% value in the first ten months of 2010 according to the World Federation of Exchanges, lists 19 property developers with a combined value of some 5.5 billion liras and it is the significant growth in this sector which is contributing to overall economic growth.
Turkish real estate has gone from strength to strength in 2010 with the construction sector posting an impressive 21.9% growth for Q2 2010. Both domestic and international demand for quality accommodation in cities such as Istanbul as well as along the Aegean and Mediterranean coasts seems to be insatiable with over 32,000 Britons already own property in Turkey according to the Turkish General Directorate of Land Registry.
Proposed new policy from the Ministry of Public Works and Housing to ease regulations on foreign nationals purchasing land in Turkey, predicted to come into force as early as 2011, could further boost the market, opening it up to increased levels of lucrative Middle East investment.
The economy is also set to receive a boost from tourism revenue with US$ 22.5 billion expected in 2010 rising to US$ 23.8 billion in 2011 according to the program of State Planning Organization (DPT).
As Steven Worboys comments,
“Turkey is now a serious global economic contender; with its robust V-shaped economy the nation bounced back quickly from recession and now is capitalising on its key fundamentals, enjoying a period of growth and prosperity.”

For more information about investing in Turkey, especially the economic powerhouse of Istanbul where off-plan property developments such as the superb Crystal Heights are seeing capital gains of up to 20% per annum and guaranteed rental yields of 7%, then contact the experts at Experience International on + 44 (0) 207 321 5858 or visit www.experience-international.com.

British Airways launches new flights to the French Alps

by Charlotte Ashton United Kingdom

 

National flag carrier British Airways has announced the launch of a new route for the 2010 / 11 winter season – London City Airport to Chambery, the gateway to the French Alps.
Starting on 18th December 2010, the BACityFlyer service will operate flights four times a week until March 2011 enabling Britons to visit the popular French ski destination for long weekends as well as traditional week long stays.
Ed Scott, French ski property expert at Experience International, comments,
“The new route operated by BA from London City to Chambery is sure to be warmly welcomed by skiers especially due to the frequency of flights which allow greater flexibility. Chambery is the gateway to the world class skiing of the French Alps with resorts such as Val d’Isere, Tignes and Saint-Martin-de-Belleville nearby.”
Nearly half a million Britons own property in France with the Alps one of the most popular destinations and this increased accessibility from the UK is also set to benefit those who own ski chalets in the region as well as holiday makers.
Just an hour from Chambery airport, the traditional Savoyard village of Saint-Martin-de-Belleville has seen tourism numbers steadily increasing over the last few years and now with the new BA flights the area, part of the famous Three Valleys domain, is set for a bumper season this winter.
Accommodation in Saint-Martin-de-Belleville, at an altitude of 1,450m, is in high demand year round with only 2,600 tourist beds available. There is an established second home market with approximately 1,460 holiday homes and a booming buy-to-let market. Leaseback developments such as the Chalet du Gypse, located at the foot of the slopes at the entrance of the Belleville Valley, are proving particular popular due to their affordability, guaranteed returns as well as personal usage.
One and two bedroom fully furnished ski-in ski-out apartments are available from €318,659 (including parking, excluding VAT) with superb onsite facilities including indoor swimming pool, Jacuzzi, sauna, Turkish bath, spa and gym area.

For more information about buying ski property in and around Chambery or indeed the last remaining units at Chalet du Gypse contact the experts at Experience International on +44 (0) 207 321 5858 or visit www.experience-international.com.

Brits swap 36 deg Fahrenheit for 36 deg Celcius as Egypt ranks Top Winter Sun Hotspot

by Charlotte Ashton Egypt

 

With the Met Office predicting snowfall and maximum temperatures of just 36˚Fahrenheit (2˚Celcius) by the end of the week, more and more Brits are looking to escape the cold snap and visit top winter sun hotspot- Egypt.
 
The mercury is rising fast in Egypt with temperatures of up to 36˚Celcius forecast for Sharm el Sheikh, the highly popular holiday resort located on the Sinai Peninsula. Airlines and tour operators are already seeing increasing numbers of Britons travelling to the north African nation, only 4 and a half hours by air, to soak up the sunshine and leave all the stresses of the Christmas run-up behind.
 
According to Egyptian Minister of Tourism, Zuheir Garana, an 18% increase in tourism to Egypt is expected with an impressive 14.5 million to visit by the end of 2010; a positive outlook which Steven Worboys, MD of the Egyptian property experts Experience International, supports,
 
“Egypt is certainly a destination to consider as the cold weather approaches. Ranked by The Guardian as one of the top 5 winter sun hotspots, it offers the perfect combination for individuals, couples and families alike with guaranteed sunshine, high temperatures, crystal clear waters along the Red Sea as well as a wide range of cultural and sporting activities to enjoy.” 
 
The country’s location outside of the troubled euro zone also makes Egypt highly appealing with American Express Global Foreign Exchange Services Currency Report reporting that the Egyptian pound was the 4th most popular currency sought between Jan – Sept 2010.
 
Situated on the Sinai Peninsula, the small fishing village of Sharm has developed to become one of the greatest attraction in Egypt for tourists from all over the world especially Britons who account for 1 million visitors annually. With its dramatic mountain landscape and wide variety of tourist attractions including warm deep-blue seas and world-class diving, excellent beaches, golf, quad biking in the desert, an equestrian centre, ice skating and a national park it’s not hard to see why Sharm is so popular.
 
And not only with holiday makers but those looking for a more permanent escape from the questionable British weather. The second home market in Sharm has boomed in recent years with properties in Naama Bay, the heart of Sharm, in very high demand.
 
Apartments in the aptly named Sunny Lakes development for example are selling quickly with investors keen to secure the limited number of luxury 2 bedroom apartments currently under construction from just £71.250. Completed to the highest European standard, the low density development is located just 15 minutes walk from the public beaches of Naama Bay and affords a wide range of superb on-site amenities including 9 swimming pools, shops, restaurants, cinema, supermarket, children’s playground and 24 security.
 

For more information about the winter sun hotspot of Egypt and Sunny Lakes contact the experts at Experience International on +44 (0) 207 321 5858 or visit www.experience-international.com.

Holiday Inn’s New Flagship Docklands Hotel – Open For Investment

by Charlotte Ashton United Kingdom

 

One of the world’s most recognised hotel brands, Holiday Inn has been selected as the operator for the new West India Dock Road hotel, located in the heart of one of Europe’s premier financial districts.
 
The £32 million project, due for completion in time for the London Summer Olympic Games in 2012, will be the Intercontinental Hotels Group (IHG, owner of the Holiday Inn brand) flagship hotel in Docklands allowing savvy investors to capitalise on London’s thriving hotel market which is currently outperforming major European cities including Madrid, Rome, Brussels, Berlin and Amsterdam.
 
According to an independent feasibility study, despite the recent economic downturn, occupancy rates for Holiday Inn hotels in London over the last 4 years were 85% and the brand is going from strength to strength following a global relaunch now in its final stages. The Holiday Inn West India Dock Road with its 252 4* hotel rooms will also assist in meeting the target of 50,000 additional rooms in the Capital by 2026 as outlined by The London Plan. 
 
A landmark building, Holiday Inn West India Dock Road will occupy a prime strategic location adjacent to Westferry DLR station and only 3 stops from Bank, 2 from Canary Wharf, less than 3 miles from London City Airport and 15 minutes to the Olympic Park at Stratford. As an official partner of the 2012 Summer Olympics, Holiday Inn has designated the Docklands hotel as a feeder hotel for the games which are expected to attract over 500,000 visitors.
 
Steven Worboys, MD of property investment experts, Experience International based in Trafalgar Square which sold out its first allocation of units at Holiday Inn West India Dock within just 4 weeks earlier this year and now has new units available in phase 2, comments,
 
“London remains one of the most sought-after property investment destinations in the world and the Holiday Inn West India Dock presents an outstanding opportunity to include high yielding prime London real estate at 19% below official RICS valuation as part of a robust portfolio. Fully managed and operated by Holiday Inn, investors can be confident in nearly 60 years of hotelier experience and the support of parent company IHG, the largest hotel company in the world by number of rooms.”  
 
With over 11,600 sqm of build area, the 17 floor hotel will offer high quality rooms and a number of executive suites. In addition guests can enjoy first class on-site facilities including the restaurant, café, bar, gym and 300 sqm of conference space. Conservatively forecasting 70% occupancy rates in year 1 and rising to 80% from year 2 onwards, minimum net yields of 10.7% are expected in year 5 and thereafter and non-status finance is available. Available from £189,000, 19% below the official independent RICS commercial valuation, the hotel rooms in the newly release phase 2 are already selling fast to both investors based in the UK and the Middle and Far East.
 

For more information about investing in the exciting hotel room investment, Holiday Inn West India Dock Road, call Experience International today on + 44 (0) 207 321 5858 or visit www.experience-international.com.