Madeira set to be top tourist destination this summer

by Charlotte Ashton Portugal

The Portuguese island of Madeira is on course to be a top tourism destination this summer as early reports indicate 90% hotel occupancy levels.

Demand for quality accommodation on the magical island, tucked away in the corner of Europe, is high with hotels in the capital city of Funchal which hosted the Annual Madeira Flower Festival last weekend reporting impressive occupancy levels of 90%.
Funchal, an established tourism destination, popular with individuals and families alike, hosts numerous festivals and events throughout the year which draw hundreds of thousands of visitors, boosting the local economy and generating demand for property owners with apartments and villas to rent.  
Steven Worboys, MD of Madeiran property experts, Experience International, comments:
“Despite being the largest island in the Portuguese archipelago, 70% of the land is protected from development and due to the rocky nature of this volcanic hot spot a significant remainder is unsuitable for construction meaning that accommodation is in short supply. With over 1 million tourists visiting this Pearl of the Atlantic each year opportunity and requiring accommodation opportunity abounds for the buy to let market.”
New flights to Funchal
And now it will be even easier to reach this tourism hotspot this summer. Starting on 13th May 2010, Flybe will be operating a direct flight from Norwich International Airport to Funchal. The popular budget airline has introduced the route and increased its charter seat capacity by 70% in anticipation of increased demand this summer.
For those interested in purchasing a second home on the magical island of Madeira, Experience International are running a number of Discovery Tours which offer serious potential buyers the opportunity to immerse themselves in the rich culture of Madeira, view the wonders of the island and tour the superb properties such as the Palheiro Estate, available.
Located on a prime hilltop site overlooking the charming capital of Funchal, the Palheiro Estate offers some of the most sought after completed residences on the island and now a number of purchaser incentives. Prices range from €325,000 for a 1 bedroom luxury apartment with private terrace to €1,600,000 for a stunning 4 bedroom villa with terrace and private garden. 
Alternatively if you fancy creating your own masterpiece then take advantage of one of the well-positioned land plots available starting from €395,000 for 3,846 m2 plot with 400m2 construction area.
For further information on the Madeiran property market and Discovery Tours contact Experience International for your free Magic of Madeira 24 page magazine on + 44 (0) 207 321 5858 or visit www.experience-international.com.

Turkish economy sees 6% growth

by Charlotte Ashton Turkey

Confidence in the Istanbul property market, tipped by experts as an investment hotspot for 2010, reaches another high as latest reports reveal a 6% growth in the Turkish economy. 

As reported in the Wall Street Journal, Turkey’s GDP rose an impressive 6% in the last 3 months of 2009 compared to the same period in 2008, far exceeding the 4.5% growth forecast.

Such strong growth has also prompted experts to increase forecasts for growth for 2010 from a conservative 5.4%. This latest data from the Turkish Statistical Institute demonstrates just how far Turkey has outperformed many economies in the region and indeed Western Europe and should bolster investor confidence in the future prosperity of the nation.

Population of Istanbul increasing faster than 118 countries

One of the key drivers of the booming property market in Istanbul is the demand for quality accommodation from the vast numbers of migrants to Turkey’s second city.

The latest figures from the Turkish Statistics Institute report that the population has expanded by 341,322 people in the last two years alone with this figure set to rise in 2010 as the economy recovers and employment opportunities increase.

With current growth rates of 1.7% per annum, Istanbul’s population is increasing more rapidly than 118 countries including Greece, Belgium, Hungary and Sweden; now is the perfect time for investors to enter the lucrative buy-to-let market.

Steven Worboys, MD of property experts Experience International, comments:

“The Istanbul property market is going from strength to strength. Demand for quality investment properties remains very high with our early entry investors already seeing up to 37% capital growth which is certainly unprecedented in today´s marketplace.”

One development in particular is capitalising on this demand. The Hamptons comprises a limited number of luxury studio apartments located in the prosperous district of Beylikduzu on the European side of the city. The contemporary apartments offer sea and city views, modern interiors, superb on-site facilities and easy access to central Istanbul.

Investment is from as little as £13,350 and offers a 2 year 7.5% p.a. rental guarantee. For more information contact us today on +44 (0) 207 321 5858 or visit www.experience-international.co.uk.

Green Light for Construction at Flaxby Resort

by Charlotte Ashton United Kingdom

Good news for investors! The final piece of red tape has been removed to allow the Skelwith Group to commence work on the main hotel site at the prestigious Flaxby Golf & Country Club, Yorkshire.

The Skelwith Group’s revised plans for the 5* Flaxby Hotel and road improvements were passed at Harrogate Council’s Planning Committee meeting on 30th March 2010 ensuring that work can start on this exciting project.Paul Ellis, Skelwith Group’s MD, comments:

“The contractor is signed up, we have a first class hotel operator on board and funding secured. This is the last piece in the jigsaw to bring this fantastic development to fruition and to make it a reality.”

Economic boost for the Golden Triangle


With over 250 construction workers on site at any one time and up to 400 jobs created when the hotel is operational, the Flaxby will provide a massive boost to the local and regional economy. In addition the bars, restaurants, luxury spa and boutiques of the 240,000 sqft development set around an existing 27-hole golf course will generate further employment.
Steven Worboys, MD of Experience International who are selling the attractive hotel room investment, comments:
“The Flaxby Resort has been one of the most sought after investment opportunities over the last 12 months with 90% of units already sold out. The quality of the hotel, prime location and superior service will ensure that the Flaxby will become a jewel in Yorkshire’s crown.”
 
Opening of the Flaxby is expected by the end of 2011 and Wates Construction has been signed up as main contractor with their involvement in the prestigious project already featured on BBC News.
 Unique UK Investment Opportunity


With final planning permissions in place and construction commencing imminently, now is the perfect time to capitalise on this unique investment opportunity. There are only a few remaining hotel room investments available at current prices including:
– Junior doubles from £249,950
– Only 20% deposit required
– 6% per annum paid on deposit (during construction)
– Deposit protected with Zurich policy
– 60% min income over 10 years GUARANTEED* (on completion)
– Non-status finance available
– SIPP eligible
*Gross income based on a minimum guaranteed income of 6% p.a. before costs and mortgage payments

For more information regards construction updates, latest availability and floorplans contact us +44 (0) 207 321 5858 or visit www.experience-international.co.uk.

Improved accessibility to paradise island of Boracay

by Charlotte Ashton Spain

The prestigious San Miguel Corporation, with a track record of investing in the finest global locations, is to purchase a majority share in the modernisation of Caticlan airport. 

The gateway to the Philippines’ world-famous tourist hotspot of Boracay Island, Caticlan airport allows direct air access to the paradise island from Manila in under 35 minutes. The upgrade, consisting of a larger passenger terminal, runway extension to accommodate bigger aircraft, improvement of airport facilities and surrounding road network, is worth over £36 million and will enable greater passenger traffic and cheaper airfares as larger, more cost effective aircraft will be accommodated.
Steven Worboys, MD of Experience International which specialises in property in the Philippines, comments,
“The modernisation of Caticlan airport spells good news for property owners such as those at Continent Fairways on Boracay as increasing tourist arrivals will boost demand for quality accommodation and in turn rental incomes and property prices.”
The upgrade works are currently underway and are due to be fully completed within seven years.      
For those interested in purchasing property in the Philippines then the Continent Fairways luxury resort development occupying a prime location on Boracay Island is worth consideration. This low risk, high return and hassle free investment comprises 56 luxury fully furnished hotel suites and apartments within the grounds of a championship par 72 golf course. Investment is from only £26,000 with net yields of 12.4% and 60% finance available.
For more information please contact Experience International on + 44 (0) 207 321 5858 or visit www.experience-international.com.

Be the “buyer who benefits” – Top 10 Reasons to invest in Florida

by Charlotte Ashton United States

With billionaire real estate investor Warren Buffett proclaiming recently that “within a year or so, residential housing problems [in the US] should largely be behind us”, investor confidence in the US and more specifically the perennially popular Floridian real estate market has returned.

Despite the outlook for the US economy being more positive in 2010, recovery is not expected overnight and there still remains substantial Below Market Value housing stock available. In the Sunshine State of Florida in particular up to 72% discounts are available from most recent selling prices.
Steven Worboys, MD of international real estate experts, Experience International comments,
“From our extensive research we believe that Below Market Value property in Florida remains one of the most attractive investment opportunities available today. Working in partnership with Florida’s most trusted and experienced real estate experts we have sourced a selection of premium properties in highly sought after locations at up to 72% below recent selling prices.”
 
Top 10 reasons to invest in Florida
For those considering purchasing property in the US, here are 10 top reasons to invest in Florida to ensure that you are, in the words of Warren Buffett, the “buyer who benefits”:
 
 
  1. Robust economy – Florida’s accounts for 5% of the nation’s total economic output and industry diversity has ensured stability over the last 12 months
  2. Key location for international trade – 40% of all US exports to Latin and South America pass through Florida with Miami airport handling more international cargo than any other airport in the country
  3. Business-friendly taxes – Florida remains among the top 10 states in the nation when it comes to having “business friendly” taxes (Jacksonville Observer 2009) in turn boosting the local economy
  4. A growing population – the 4th most populous state in the US is still experiencing growth with University of Florida´s Bureau of Economic & Business Research forecasting an increase from the current 18.75 million people to about 24,971,000 in 2035.
  5. An affluent population – Not only increasing in numbers but also in wealth, the per capital person income of Floridians is $39,267 (2008) showing continued year-on-year growth.
  6. Low property prices – Median real estate prices for Florida average 25% less than the national average, $138,200 vs $184,700 respectively (Zillow Jan 2010)
  7. Abundance of BMV housing stock – More than 500,000 homes received foreclosure notices in 2009 bringing to the market large numbers of high quality stock at up to 70% Below Market Value prices.
  8. World class tourism destination – Florida attracted over 80 million visitors in 2008 and with attractions such as the new Harry Potter theme park opening in Orlando, expectations for sustained levels of tourism are high
  9. Highly developed infrastructure – first class interstates, highways, train and air links ensures that accessibility to and within Florida is quick and easy
  10. The Sunshine State – with a year round sub tropical climate, Florida’s 350 days of sunshine per year are a real draw not only to overseas visitors but US nationals alike
To view the latest Below Market Value opportunities in Florida please contact Experience International on + 44 (0) 207 321 5858 or visit www.experience-international.co.uk.

Sun, Sea and Ski? Italy’s secret ski resort revealed

by Charlotte Ashton Italy

 

When you think of southern Italy, images of relaxing on a golden sandy beach with the warm waters of the Mediterranean lapping at your feet, indulging in the freshest Italian cuisine and strolling through character filled Romanesque towns springs to mind.
Whilst this is indeed true, it is not all that the southern region of Calabria offers. Drive just 90 minutes inland and you will be transported to the Sila Mountains, a rugged plateau in the heart of the region and home to Italy’s secret ski resort.
Popular for decades with Italians, the Sila National Park is filled with enchanting mountains and valleys, rich in flora and fauna it is the ideal location for nature lovers. Not only a summer destination, the Sila Mountains due to their altitude (the highest peak is almost 2000m) and reliable snowfall are fast becoming a popular European ski destination, proving it is possible to have sun, sea and ski all in one place.
In the quiet mountains of the Sila Massif you can take advantage of 35km of cross-country skiing trails, a number of pistes for beginners and intermediates alike and an impressive 1,748 feet of vertical descent, Hell Valley which is used for the Italian Ski National Cup. Stumble across hamlets where it is easy to believe that their origins are as old as the mountains themselves. Step back in time where women wear traditional black dress and elderly men sit quietly outside tavernas watching the world go by.
It is in this unspoiled setting that you will find the “pearl of Sila”, the little known but best organised ski resort of Lorica. Situated on the banks of Lake Arvo in a pleasant open valley facing south, warmed in winter by the sun of the south and cooled in summer by the height of the mountain, Lorica affords access to the top of the Botte Donato peak (1928m) from the Cavaliere station. 
Steven Worboys, MD of overseas property experts, Experience International, comments,
“For those who love Italy, the Sila Mountains in Calabria are truly a hidden gem. The region offers the complete package from the sundrenched shores of the Calabrian coast to the spectacularly beautiful mountains of the Sila National Park only a short drive away. And with property prices remaining affordable, buyers can expect their euro to go a lot further compared to other more developed Italian ski resorts.”
One new development receiving considerable buyer interest is Porcino Silano, 6 luxury boutique 1 and 2 bedroom apartments in the village of Lorica starting from only €87,000. With private parking and private gardens, these eco friendly residences are just 300m from Lake Avro and a short distance from the ski lift enabling easy access to the Sila Massif peaks.

For more information please contact Experience International on +44 (0) 207 321 5858 or visit www.experience-international.com.

New flights make it even easier to set your sights on the real Italy

by Charlotte Ashton Italy

For those who cannot escape Italy’s magnetic draw, good news comes in the form of Ryanair launching a new route from Liverpool to the resort of Rimini on the Adriatic coast.

One of the most popular tourism and second home destinations in Italy, a number of low cost flights already operate direct from the UK to Rimini from London Stansted, Bristol and East Midlands and now due to increasing demand Ryanair will commence flights from Liverpool at the end of March.
Steven Worboys, MD of overseas property specialists, comments,
“Each year thousands fall in love with the rolling hills, rich history and culture, fine cuisine and Mediterranean lifestyle of Italy, choosing to purchase a second home or make a more permanent move.
Demand for traditional homes in the real Italy remains high with the Le Marche region on the central eastern coast only 45 minutes from Rimini airport, drawing particular attention due the ease of access and lower property prices compared to neighbouring Tuscany and Umbria.”
Recently propelled onto the global stage due to a series of commercials produced for the region featuring Hollywood A-lister Dustin Hoffman, Le Marche is known as “Italy all in one place” attracting visitors from all over the world year round to enjoy the beautiful coastline, traditional villages and fine cuisine.
For those seeking their very own Italian idyll, Experience International are proud to present Casa Serafini, an enchanting community of 39 uniquely refurbished and new build residences set over 11 acres of land in the restored Italian hamlet of Bargni in the heart of the Le Marche region. With mortgages up to 80% of purchase price available and 5 selected one and two bedroom properties available
with a further 20% discount from the developer facilitating 100% financing this is an opportunity not to be missed.

For more information please contact Experience International on +44 (0) 207 321 5858 or visit www.experience-international.co.uk.

Istanbul poised to kick-start the European property market recovery

by Charlotte Ashton Turkey

Ironically not yet a member of the European Union, Turkey’s biggest city, Istanbul which strategically straddles the Bosphorus Strait, holds the perfect recipe for kick-starting the recovery of the European property market according to the experts at Experience International.

Drawing on the fundamentals of successful property investment, supply and demand, Istanbul trumps many other European cities with an ongoing influx of some 400,000 new inhabitants each year yet an annual housing shortage of 250,000 units. This combined with the availability of mortgage finance for both domestic and foreign investors, low interest rates and minimal exposure to international credit markets has created a very appealing global real estate environment.
As Steven Worboys, MD of Experience International, comments,

“Investors seek markets which hold real confidence; those which deliver not just in the short term but also long term gains. Many are cautious about investing in Europe, especially in ‘PIGS’ (Portugal, Ireland, Greece and Spain), however Turkey’s banking system being heralded as “one of the strongest and least-leveraged in Eastern Europe” by Standard & Poor, who also recently upgraded the nation’s credit rating, provides welcome reassurance. Something which many other European nations can take heed from.”
The latest statistics released paint a promising picture for both for Istanbul and Turkey as a whole. Regular monthly index Redin.com reported a 0.49% property price increase in Istanbul in January 2010 and 116,000 homes sales were made nationally in Q4 2009, a substantial 25% increase compared to Q4 2008.  
Investors can also smile as even more dramatic price increases, up to 40% according to experts, are forecast for Istanbul due to the city’s status as European Capital of Culture 2010. Just as 76% house price increases were witnessed (Halifax Estate Agents, 2008) in Liverpool, Capital of Culture back in 2008, the positive impact of this accolade is highly anticipated by domestic and foreign property owners alike.
“Since launching our latest investment opportunity in Istanbul, Crystal Heights, demand from savvy investors who have identified the massive potential of the Istanbul property market has been incredible. Many are considering traditional European destinations but the numbers are just not adding up yet hence they are looking further afield, to the edge of Europe, where the security of the west meets the promise of the east.
“Due to its strategic location we expect to see a positive knock-on effect for Turkey’s European neighbours but the key to future success will rely heavily on the availability of finance. The recent support for Turkey becoming a “trusted European Partner” by Prime Minister Gordon Brown (16th March 2010) provides further encouragement that nation’s EU membership is on track, another positive indicator for investor confidence” concludes Steven Worboys.
With only 20% of properties in the Crystal Heights development, located on the European side of the city, being available to overseas investors, the units are selling very fast. Purchasing in Istanbul is straightforward; up to 70% mortgage finance available is available at interest rates as low as 4.8%. Prices remain affordable from £45,000 (fixed in sterling) for a 1 bedroom luxury apartment with a 2 year rental guarantee of 7% p.a. in place which is protection on completion of purchase.

For more information about Istanbul please contact Experience International on 00 44 (0) 207 321 5858, visit www.istanbul-property.com or follow us at twitter.com/experience_int. 

5 reasons to buy a French Leaseback Property

by Charlotte Ashton France

 

It would seem that post-recession, as the market regains its confidence, buyers are going back to basics and selecting traditional, safe and secure global destinations in which to purchase second properties.
 
France, popular back in the 1960s at the dawn of the second home era, in particular is receiving renewed investor interest with the leaseback system cited as a key factor in the decision making process.
 
So what makes a French Leaseback property such a solid investment?
 
1. Low deposit required
 
With the current instability of the euro and poor performance of the pound, investors are keen to reduce their exposure to currency fluctuations by purchasing a property with a low deposit. Off-plan leaseback properties can be purchased with only a 5% deposit and a wide range of mortgage products are available up to 100% finance.
 
2. Guaranteed rental income
 
A key feature of the leaseback scheme is the ability for the owner to generate income by purchasing the freehold property outright and then leasing it back to a management company who specialises in the tourist management, maintenance and rental of these properties for a minimum 9-year period (renewable). In return owners receive a guaranteed index-linked annual return, irrespective of occupancy of the property.
 
 
3. Personal usage
 
Leaseback property owners can enjoy the best of both worlds – guaranteed rental income and personal usage. Investors have the option to choose a leaseback formula that includes weeks of stays at their property each year for a reduced rental guarantee. These weeks may also be used in other equivalent apartments in any of the other properties managed by the management company. 
 
 
4. VAT rebate
 
The rebate of French VAT, currently at 19.6%, on a new build property price is a real incentive for buyers. This government backed tax break enables purchases to be effectively made at below market value and if held for 20 years the VAT is not required to be paid back.
 
5. 40 year track record
 
In a time when the security of an investment is paramount, buyers can take comfort in the 40 year track record of sale and leaseback devised by the French Government. Designed as a low-risk long term investment, the method operates within a set framework and is a well established buying practice.       
 
Steven Worboys, MD of French property experts Experience International, comments,
 
“We have seen an increase in demand for French leaseback properties especially those in key tourist destinations such as the Alps. Our clients want to ensure that their investments are not only secure but that their properties are delivering income as well as personal usage. Leaseback properties perfectly meet these requirements.”
 
A wide selection of leaseback properties are available to purchase in sought after locations such as Sainte Foy, Avoriaz, Megeve, Marseille and Biarritz through Experience International. Contact one of the French leaseback property experts on +44 (0) 207 321 5858 or visit www.experience-international.com for more information or to view the opportunities currently available.

One to Watch in 2010 – Hidden Gem of the French Alps Revealed

by Charlotte Ashton France

With France unequivocally topping the charts in a recent survey of the top 10 winter ski resort destinations by budget airline easyJet, it seems that the British love affair with the French Alps remains as strong as ever.

As expected the top ranking resorts included Chamonix, Avoriaz, Meribel and Les Arcs but according to the French ski property experts at Experience International, Sainte-Foy-en-Tarentaise, the hidden gem of the French Alps, is one to watch in 2010.
Centrally located in the Tarentaise Valley, home to notable resorts including Val d’Isere, Tignes, Les Arcs, La Plagne and La Rosiere, Sainte-Foy-en-Tarentaise has long been the preserve of experienced guides bringing their clients over from Val d’Isere just 10 minutes away to enjoy the famous powder and off-piste skiing available. As Steven Worboys, MD of Experience International, comments:
“It is the ideal resort for experienced skiers and beginners alike. The traditional Savoyard architecture, stunning scenery and relaxed family atmosphere attract real mountain lovers. The popularity of Sainte Foy is only going to increase in 2010.”
This hidden gem is proving not only a popular winter holiday destination but also the ideal second property location due to its ease of access from the UK (under 2 hours drive from Geneva which operates numerous direct budget flights to the UK), year round appeal and property prices up to half that of surrounding areas.
With current concerns over the strength of the British Pound buyers are being cautious about committing to euro property purchases but as Steven Worboys explains, this should not be a concern as long as you select the right development:
“In order to minimise exposure to the current weakness of the Pound buyers should look for leaseback properties which require low deposits. The La Chapelle ski-in ski-out apartments for example require only a 5% deposit to secure with 95% finance available.”
Well located leaseback properties in particular are attractive options as investors are able to secure guaranteed rental returns for 18 years plus, index-linked, as is the case with La Chapelle as well as enjoying flexible personal usage. Investment in these 4* luxury apartments is from as little as €12,000 including furniture, parking and purchase costs.
For those wishing to discover the hidden gem of Sainte Foy please contact Experience International on + 44 (0) 207 321 5858 or visit http://www.french-ski-property.co.uk/ to watch the video.