Viva the Costa Not-a-Lotta!

by Charlotte Ashton Italy

 

It has been well-documented that the Spanish property market, one of the first to see and reap the rewards of the boom, was also one of the first to be hit by the crash, with the country now firmly in a recession, as confirmed by recent INE (Instituto Nacional de Estatistica) figures that have shown that the decline hit hard in Q4 2008. Spain’s story is not, however, a wholly negative one and it does not seem that the global recession has diminished its popularity as a holiday destination – especially with British tourists.
 
Statistics from the Office of National Statistics have shown that Spain remained the top British holiday choice for 2008, accounting for 12,029,325 holidays, and the popularity of this traditional holiday destination remains into 2009, as figures from Ascent Market Intelligence have shown. The company produce a Leisure Travel Monitor that is a unique record of the UK outbound holiday market and, utilising records of bookings taken through both travel agents and tour operators, have shown Spain’s continued popularity, with the country holding poll position in terms of where Brits have booked breaks for the coming year.
 
Spain does not, however, remain merely a popular destination of choice when it comes to holidaying; it also remains close to the hearts of those looking to buy overseas. Homesoverseas.co.uk has recently released findings that have shown that this European destination is the most popular overseas choice for those searching on the website for overseas property for sale, ranking ahead of both France and Italy, using results of country and property page views.
 
This enduring demand for Spanish property – even during a recession – could explain why, whilst average property prices for the country have declined (from €248,000 in Q4 2007 to €247,000 in the same period in 2008) property prices in one the most popular regions of the country, the Costa del Sol, not only remain above the national average but are also still registering growth. Statistics from award-winning property portal Kyero.com have shown an increase of 5.85% in average property prices in Estapona in the Malaga province year on year when comparing Q4 2007’s €427,000 with Q4 2008’s €452,000.
 
Not only has this region of Spain always been a great draw for British tourists because of its white sands and safe seas as well as the wide variety of activities on offer and excellent value for money, another of the reasons for the Costa del Sol’s continued popularity is due to increased government spending on its beaches and surrounding facilities. The Andalusian Government and the Western Costa del Sol Association of Municipalities have pledged €5,000,000 to improving the coastal areas between Torremolinos and Casares, including updating promenades and installing lighting and shower facilities.
 
This is not only excellent news for those tourists visiting the region for their holidays but it is also heartening for those who have already invested in the Costa or are looking to do so as it is sure to increase interest further still. Although the continued popularity of the Costa del Sol has seen it defy general trends, during times like these there are still bargains to be had and never before seen deals are becoming available to encourage people to continue investing in the region.
 
One example of a project that represents a unique investment opportunity on the Costa del Sol is Sunset Golf on La Resina Golf and Country Club in Estapona, close to the popular resort of Marbella. Here, a scheme is in place for investors to buy either a two-bedroom apartment or penthouse using a 100% mortgage for a three-year fixed term investment, with 8% rental guaranteed. Properties are inspired by Andalusian architecture, facing south towards the sea and not only is the resort an excellent investment opportunity due to its guaranteed rental and stunning location, properties are developed close to La Resina Golf Course, which as Managing Director of Experience International, Steve Worboys explains adds to the appeal,
 
“The 9-hole La Resina Golf Course, each hole with two different tees, adds a great deal to the investment opportunities available at Sunset Golf as it has been found that properties on golf courses retain their value better than those standard non-golf developments and with an opportunity like this one that is all important. There is an excellent opportunity to benefit from market conditions here and with the guaranteed rental scheme there is real money to be made.”
 
Not only is this an attractive entry-level investment but the compulsory buy-back scheme after three years means that investors will receive the purchase price plus an extra 15%, making this a prime opportunity, in an excellent time to invest. Spanish Prime Minister Jose Luis Rodriguez Zapatero concurs, this year will be a "year of trial, of serious challenge [but] we will be touching economic recovery with our own hands".
 
Sunset Golf properties on La Resina Golf and Country Club start from €145,000/ £128,570. For more information contact Experience International on 0208 321 5858 or visit www.experience-international.com.

Living it up and down in Marbella

by Charlotte Ashton Spain

Clients´ demands on the exclusive Champneys Resort in Marbella have led to the developer combining apartments together, first and second floor apartments in suitable blocks, to create three bedroom duplex properties complete with terraces, gardens, pool and interior courtyards. Julia Norton, Sales Director Champneys Marbella comments “Because there are so many clients requesting prime properties on the resort, naturally we have adapted the construction in order to satisfy the demand for the larger properties”.

Although, this might appear excessive, possibly unbelievable, considering the current economic climate, one has to remember that Marbella has always been and still is the Mecca for the rich and famous. Regardless of what the rest of the world is doing with its´ finances, the very rich remain relatively unscathed by it all. In fact, despite the economic downturn in Spain, properties in the new Champneys Marbella development have been holding strong and all but 2 of the penthouses have been sold (22 of 24).

The statistics released by property experts Kyero.com show that the average property price in Marbella during the final quarter of last year was 654,000 Euros compared with just 247,000 Euros across the rest of Spain. Marbella´s house prices are on average 164.6% more expensive than the national average and this will come as no surprise to anybody who knows the resort. The stereotype of Marbella being home to the “jet set” is still very prevalent today and the members show no signs of leaving their spiritual home. There is nowhere else in Spain that holds that cosmopolitan feel, not unlike that of Monaco or Portofino, where its residents live an unrivalled lifestyle. For this reason celebs such as Antonio Banderas and Melanie Griffith continue to hold it in such high esteem because it offers them everything that they require in terms of leisure, shopping and relaxation.

And for those, who don´t live permanently in Spain, Marbella is still the hot holiday destination, in every sense of the word. In fact, last year according to the Office of National Statistics Spain received almost twice the number of visitors than France with 12,029,325 compared to just 7,581,688. A large proportion of the twelve thousand head loyally back to Marbella every year where they are guaranteed the essential holiday ingredients that they have come to expect over the years. Life carries on as normal in Marbella with those clients who can afford to opt for the ultimate in top end living and Champneys Resort in Marbella enables them to do just that. For more information contact Champneys Marbella on +44 (0)1442 291200 or visit

www.champneysmarbella.com.

—- ENDS —-
About Champneys Marbella Spa Resort: Set within the hills of Marbella’s National park this exclusive development boasts an idyllic location overlooking the coast line of Marbella and Puerto Banus.
Duplex properties combining first and second floor apartments in suitable blocks (5, 7 and 12) with 3 bedrooms are available from 1.6 million Euros. Apartments and penthouses are also available in the exclusive luxury resort combining the Champneys spa lifestyle and stunning climate of the Mediterranean. Prices start from €696,358 for 2 bedroom apartments. There are just two 2 bedroom penthouses available at €971,729 and €1,026,705. For more information contact 01442 291200, email sales@champneysmarbella.com or visit www.champneysmarbella.com.

‘Tipped for the Top’ – tourism triumphs on tropical terra-firma

by Charlotte Ashton World

 

Quite apart from the well publicised emerging markets of Eastern Europe and Central & South America, there is one destination that not only boasts amazing scenery and an intriguing culture but is also growing as a new property hotspot – The Philippines.
 
This group of islands in South-East Asia benefits from an intense mix of peoples and cultures, making it a truly exciting melting-pot and the country’s growing tourism and business sectors are a tribute to this. Figures recently released by the Department of Tourism (DoT) have shown that 2008 was a bumper year for the country – with a record number of arrivals – 3.14 million visitors, an increase of 1.5% on the previous year.
 
Not only this but interestingly, although South Koreans accounted for the highest number of visitors (recording an increase of 19.48% in the number of visitors in 2008), arrivals by Russian visitors were up even more significantly on 2007 figures – an increase of 34% year-on-year. As a good indicator of investor confidence, this huge increase in Russian arrivals is a significant sign for the country’s economy, predicting an even brighter future, as Ace Durano, Secretary of Tourism for The Philippines, recognised,
 
“Tourism is seen to be one of the strongest propellers of the economy for the year ahead.”
 
And with a great deal to offer, it is not hard to see why –  powder-white beaches, magnificent coral reefs offering some of the world’s best diving, crystal clear waters, lush mangrove forests to name but a few of the great draws of these some 7,000 islands. With so much to offer and a growing tourist market, this is perhaps the ideal time to invest in property in the country, as Steve Worboys, Managing Director of Experience International comments,
 
“As soon as you set foot in The Philippines it is easy to see why it is often known as ‘The Pearl of the Oriental Seas’: it is a country of beauty and great potential for those looking to invest. As a relatively new emerging market, The Philippines’ popularity is set to continue growing for many years to come and that is why now is a great time to buy into the boom, especially while property prices are relatively low and there are real bargains to be had – with excellent rental potential.”
 
One example of a low-entry level investment is the Blue Coral Resort and Spa on Mactan Island in the province of Cebu, a popular tourist spot in The Philippines with much to offer visitors, from restaurants to shopping and entertainment facilities, as well as an international airport, making accessibility easy. The five star resort is in close proximity to both the airport and Cebu city and boasts its own private beach, diving school, spa and infinity pool amongst other first class facilities.
 
Studio and two bedroom fully furnished apartments are available, as well as two and three bedroom villas with private pools, all with beautiful views. Prices start from £63,425 for a studio apartment, from £103,200 for a two bedroom apartment, from £129,000 for a two bedroom villa and from £182,750 for a three bedroom villa. For those looking to buy for investment purposes, the properties will be run as a managed hotel resort, offering high rental yields with a guaranteed net income of up to 20.9%.
 
For more information visit www.experience-international.com or call +44 (0)207 321 5858.

Technically speaking Limpopo-Lipadi has naturally thought of everything

by Charlotte Ashton Botswana

 

The exclusive game reserve in eastern Botswana, Limpopo-Lipadi, recently won gold at the Homes Overseas awards for the Most Sustainable Development in the world for the second year running. This has yet again highlighted the dynamic way in which the game and wilderness reserve views its land, its abundance of wildlife, the work it does with local communities and of course the sustainability of these aspects. So as 2009 gets underway what sets Limpopo-Lipadi apart from other eco-friendly developments? What improvements are being made to continue expanding their green credentials and how are these actions monitored?
 
Here Alan Marneweck, the founder, director and share holder of Limpopo-Lipadi talks about the ongoing efforts to maintain the 0.1% carbon footprint that the reserve has on the environment and why it means more to them than a few figures on a piece of paper.
 
 “We have a group working on the ground monitoring all the species of wildlife and plant life and as a result we have gained much knowledge on how the reserve is “feeling”. The information we gather is put into our extended asset management structure known as Big Foot which helps us monitor everything on the reserve; from the washing machines to the rhinos, we can see how each living and man made element impacts the land" says Marneweck.
 
He continues, “It never ceases to amaze me how nature has a way of showing us how its sustainable cycles are fairing, for example if a tree on the reserve is under stress due to over grazing it naturally goes into survival mode and creates a bitter taste therefore deterring animals from eating it until it has recovered.”
 
Limpopo-Lipadi covers an expanse of 32,500 hectares in the Tuli block of Botswana and plans are already in place for expansion with the view to becoming a trans-frontier reserve. The project itself is an opportunity like no other with investors invited via a private placement memorandum to invest through the purchasing of a share/s in the entire project rather than a section of land or property title. Entry level investment per share is $195,000 and shareholders are encouraged to take a very active role in the running of the reserve. AGMs are attended by all and various projects within the reserve are open for shareholders to participate in, for example the recent relocation of a herd of elephants or the reintroduction of wild dogs to the reserve.
 
As a continent Africa is known for its precious natural resources and water is no exception; with 21km of Limpopo River frontage, water is one of Limpopo-Lipadi’s biggest assets. Its transformation from river water to drinking water has been an ongoing task, as Marneweck goes onto explain; “Although our biggest asset, supply from the river is not constant due to seasonal trends and the quality of the water varies extensively. The water derived from boreholes across the reserve is reliable but will be extracted conservatively in order to limit the disruption of the water storage in the ground. We will also be utilising another abundant natural resource – the sun – by powering the boreholes with solar energy."
 
The United Nations definition of sustainability reads: “A sustainable development is one that meets the needs of the present without compromising the ability of future generations to meet their own needs” which explains the very ethos of the reserve.
 
“Limpopo-Lipadi’s continued research into the most sustainable building methods adds to its long term approach” says Robert Marneweck, a founder and share holder who heads up the architectural and project management team. “The extremely low density of building on the reserve of 0,01% is of extreme importance and we have also been experimenting with a new eco build method using sand bags to construct solid homes for many of our staff which we hope to replicate in the lodge homes.”
 
Other green features that are being considered for the future are environmentally friendly ranger vehicles and also the way in which the reserve deals with its waste management. In time Alan is confident that new processes and equipment will enhance its green credentials: “It’s a process and as you can imagine these things do not happen overnight. We have a dedicated team on board though and investors that have a passion for all that Limpopo-Lipadi stands for.”
 
For more information on Limpopo-Lipadi visit www.limpopo-lipadi.com or call 0871 2445152

Construction commences at Champneys Marbella

by Charlotte Ashton Spain

In the hills of the national park, above the prestigious resort of Marbella in Spain and with views down towards the sparkling sea, a dream is becoming a reality. The 1st March 2009 will see construction commence on the site of the new Champneys Marbella spa development, the first resort from the quintessentially English spa brand to be located outside of the UK, making this an exciting time for patrons and investors alike.

Not only will this be the first overseas project for Champneys, Champneys Marbella is also set to be the first resort where property can be purchased and it is a tribute to the popularity of the brand that interest in the new development has been so high and that there has been such demand for investment in the resort.
To date, the volume and pace of sales has far outweighed expectations especially in the current climate, and with the popularity of spas growing each year, a great number of people have already come to recognise the value – both as a unique investment opportunity and for use as a holiday home – of investing in Champneys Marbella.
Both apartments and penthouses are available, both of which are two bedroom, although supply of the most exclusive properties are now limited as demand has proved extremely high. All properties are finished to the highest of standards, with beautiful interior gardens, stunning courtyards with peaceful Moorish fountains, marble bathrooms and fully fitted kitchens. Penthouses boast added features that include lifts to both floors, double height ceilings and stunning galleried second bedrooms as well as a private plunge pool.
Not only has the project proved popular due to the promise of the very best facilities and treatments that Champneys has become synonymous with, another reason that Champneys Marbella is drawing interest is due to the Champneys Rental Pool. This is an option whereby should owners choose, they can rent out their property through a Champneys-managed scheme which gives them complete freedom over when they use the property and when they choose to rent it out. With predicted occupancy levels of 65% as well as the strength of the brand adding much to the scheme, the Rental Pool is a great draw to those looking to invest.

With apartments priced from €696,358 and penthouses from €971,729, and construction on the site starting very soon, now is the time to invest in the resort while there is still availability. For more information contact 01442 291200, email sales@champneysmarbella.com or visit www.champneysmarbella.com.

Credit Crunch Cribs – Invest in a property bargain on foreign shores

by Charlotte Ashton World

 

Now that the UK is officially in recession the government have confirmed something that most of the general public have known for quite some time, that it is getting more and more difficult to ignore the financial problems that are beginning to affect a wide proportion of the population. A large part of the problem is that UK banks and lending institutions have substantially reduced their lending and therefore there is a distinct lack of finance in the market, thus meaning that in turn increasingly fewer people are able to afford to buy property, which has come as quite a shock given the higher and higher levels of lending in recent years.
 
There is, however, still hope for those looking to buy a property abroad, where there are some excellent properties available at highly competitive prices and where those who are able to buy on a budget without finance – be it for relocation, retirement or as an investment – are able to make their money stretch a lot further. Therefore, if you are looking to move your money away from volatile banks and towards foreign shores, here are some examples of the cheapest and best value-for-money properties available:
 
Spain
 
Although there has been some bad press about Spain in recent times, it does not seem to have diminished in its popularity with us Brits – having been voted ‘Top Holiday Destination in 2008’ by the Office of National Statistics (ONS), with a total of 12,029,325 holidays attributed. And with an average property price in the country according to leading Spanish property portal Kyero.com still standing at €247,000 in Q4 2008, just €1,000 less than the same period in the previous year, prices are still holding strong, this emphasising the continued popularity of the market.
 
It is possible, however, even in these tough times, to find a bargain in Spain, especially if you choose the area and property carefully. For example the town of Lorca in the popular Murcia province offers good buy-to-let opportunities with investors able to capitalise on the student market of the new Lorca campus of the University of Murcia, as well as the fact that average property prices for a two bedroom property in the town are €162,000 – 14.7% lower than the Spanish average of €191,000 for the same sized property (according to Kyero.com).
 
Mike Hamilton, Managing Director of local property experts Casas de Lorca recognises the buy-to-let potential,
 
“The main investment approach that has seen larger investors profit substantially on an ongoing basis is buying properties for rent within the larger commercial and university cities in Spain where domestic demand is showing strong growth. In fact, the city based buy to let property market in Spain has suffered nothing of the negativities of oversupply, with many urban areas actually suffering from a restriction of supply leading to increased demand. For those buyers who are able to purchase without the need for credit, Lorca is one place that offers some well-priced properties with excellent buy-to-let potential to the domestic market and with the Spanish government also offering potential incentives to buyers, this is an excellent opportunity.”
 
To take advantage of the cheap prices in Lorca and the rental prospects, Casas de Lorca are offering 2 bedroom apartments just 3 minute’s walk from the new Lorca campus, making these ideal student accommodation. With a guaranteed rental for a three year period and a sound long-term investment, prices start at €135,000/ £118,226 for a 2 bedroom apartment – even less than the average price for a 2 bedroom property in the town! And for those looking to make a slightly smaller investment, 1 bedroom apartments are also available from €78,000/ £68,308.
 
Caribbean
 
If, instead, white sand and pristine seas are more your scene, and you are looking to fulfil your Caribbean dream, you may think this is out of reach given the current climate – but you’d be wrong. There is one Caribbean option available to suit almost any budget that would certainly fulfil any dreams of a tropical paradise, as well as dreams of good rental returns. The Caracola Beach and Spa Resort, marketed by Emerging Earth, is situated on Isla Margarita, the Caribbean island outside of the hurricane zone yet with all the sun, sea and sand one would expect – making this the ideal year-round property purchase.
 
Situated on the Caracola Beach (Caracola is the name of a Conch shell indigenous to Isla Margarita), the resort overlooks long golden sands with sparkling waters on the edge of the island’s main town, Porlamar. One bedroom apartments start at just €79,000/ £71,029 and two bedroom duplexes are from €190,000/ £170,833, a price not out of reach to those looking to buy without finance and with excellent facilities that include a spa, gymnasium, beauty salon, high end retail outlets and beautifully landscaped gardens as well as restaurants and bars this is a bargain buy. A rental return of 7% per annum net for 10 years is also guaranteed, making this an excellent investment choice and if you are looking to purchase for your retirement, this project has the added benefit of being SIPP eligible, offering tax efficient freehold ownership.
 
Egypt
 
When looking to purchase in the current climate, one idea is to focus on property located outside the euro zone to avoid the further contraction of the strength of the Pound against the Euro that has been predicted to continue through 2009. One alternative to the euro zone is Egypt – a North African country that benefits from being close to the UK and has a rich history and culture that offers the perfect antidote to the euro zone. With a reliable climate and increasing investment by the nation into the tourism sector, this is one emerging market that is continuing to turn heads.
 
One development that is proving a popular and cost-effective choice is the Palme Royale, a resort on the Red Sea coast available through Experience International that even offers the fractional ownership options that are becoming increasingly appealing in today’s market. Here, beautifully designed studio apartments can be bought for as little as £58,840, set in tropical gardens and with access to facilities that include a health spa, infinity pools and a designer shopping mall.
 
Tunisia
 
If you are looking for an even cheaper property option outside of the euro zone, Tunisia might be one up-and-coming destination to consider. The Dunes Golf & Sand Resort in El Kantaoui has a range of property options available – from studios to one, two or three bedroom apartments – starting at just £20,650 for a studio apartment. The resort is gated and at just 100 metres from a private beach, with world class Thallasso Spa facilities onsite, a 20% residents’ discount on both spa and golf facilities and a 10-12% rental yield predicted, this really is one bargain not to be missed!
 
Steve Worboys, Managing Director of Experience International who markets the resort, agrees,
 
“Now is a great time to be looking towards emerging markets for a property bargain and Tunisia is one destination that is set to see growing numbers of visitors in coming years, following on from the country’s development of the tourism sector, making this an excellent time to invest – while prices are still relatively inexpensive.”
 
Bulgaria
 
If, however, you would prefer to investigate an emerging market closer to home, the business-centred capital of Bulgaria, Sofia, is a firm choice for investment. The city is seeing a strong increase in the number of multinational companies investing and in turn therefore business tourism is also on the rise. Now is a good time to cash in on this growth, and one idea is to invest in a hotel that offers accommodation to the business-market. The Aston Hotel Sofia is one example of a project that is set to offer healthy returns on limited investment: a 6% first year yield for investors is guaranteed, although Aston Lloyd, the company behind the project, claims that this is a “conservative” estimate and are expecting the yield to be upward of 11% based on strong research on occupancy rates. And with very low entry rates of €10,000 for en-suite bedrooms and €14,000 for suites, this is an attractive opportunity.
 
Joseph Upchurch, MD of Aston Lloyd, comments,
 
“Bulgaria, and Sofia in particular, is an attractive choice when looking to buy abroad as this is a region that is thriving and has to a large extent ‘bucked’ the recession. The Aston Hotel Sofia provides investors with a unique opportunity to buy into a different kind of buy-to-let project, where they can benefit from increases in the numbers of tourists visiting the city. Not only this but those who are eligible can also include the development in their SIPP, which could see some investors getting up to 40% of their money back.”
 
It may seem, therefore, on first glance that this is a poor time for property – with much talk of doom and gloom and negative equity – but you only have to look slightly further afield to find that this could well be an excellent time to invest in property outside of the UK. Times may be tough for many but if you can afford to buy without the tie of credit, there are incredible bargains to be had – and you may well prosper.
 
For more information on investing in and around Lorca in Spain, contact Casas de Lorca on 0844 734 8057 or visit www.casasdelorca.net.
 
For more information on the Caracola Beach and Spa Resort, contact Emerging Earth on 0845 604 1208 or visit www.EmergingEarth.com.
 
For more information on investing in Egypt and Tunisia, amongst other emerging destinations, contact Experience International on +44 (0)207 321 5858or visit www.experience-international.com for further information.
 
For more information on The Aston Hotel Sofia, call Aston Lloyd on 0845 260 0646 or visit www.astonlloyd.co.uk.

“Looking over horizons" – bathe in the beauty of western Cyprus with a home fit for a goddess

by Charlotte Ashton Cyprus

The region of Polis in Western Cyprus is famed for its rugged beauty as well as its mystical charm. Not only is the scenery breathtaking – with rocky cliffs and bright blue seas typifying the view – but the area is also famous for its ties to mythology, for it is here in the waters off of the Akamas Peninsula that the Goddess of Love, Aphrodite, is said to have bathed and to have met her lover Adonis for the first time.

Aphrodite’s beauty has now come to symbolise the beauty of the area, with crystal waters and blue skies a great temptation for visitors who are quick to fall in love with the island, and it is not just the sandy beaches and clear seas that draw visitors, the sheer wealth of flora and fauna also make this area a joy to visit. A National Park, the Akamas Peninsula is home to a rich variety of plant and animal species, many of which are found only in Cyprus. It is for this reason that the peninsula has been named as part of the World Bank’s Mediterranean Environmental Assistance Programme and through this the region will remain cared for and unspoiled.
Another reason for the peninsula’s protection is that it is home to an important turtle breeding site, a conservation area where green and loggerhead turtles, which are vulnerable or endangered species, lay their eggs at the end of June / beginning of July and where the eggs hatch at the end of August / beginning of September. This annual summer event is watched with fascination and trepidation and confirms both the importance and the tranquillity of the area.
Although the Polis region is popular with tourists, it remains calm and serene and it is for this reason that it is the perfect location for a holiday home, both for personal use to enjoy the splendid scenery and also to rent out, so that others can take advantage of the beautiful views and escape from the stresses of modern life.
George Theodosiou, Overseas Marketing Manager of Aristo Developers, agrees,
 
“Polis and the Akamas Peninsula especially, represent to me all that is wonderful about Cyprus. They boast unspoiled surroundings and stunning views and are an ever-popular draw for visitors whilst reliving a time more simplistic. These reasons therefore make this region an excellent choice when choosing a second home; a popular choice in a breathtaking location.”
Agnades Villages 1 & 2 are exclusive developments that take full advantage of the beauty of Polis and the peninsula with spectacular sea views as well as views towards the pine forests of Paphos. Surrounded by olive, carob and pine trees, Agnades Villages 1 & 2 are truly luxurious and ideally situated to be in close proximity to the sandy beaches yet close enough to shops and facilities to suit all needs. Swim in the Baths of Aphrodite, visit the Latchi Yachting Marina for fresh fish or simply soak in the sun’s warm rays, the developments are sympathetic to the beautiful surroundings, with a low build density and high-end properties.
Three bedroom villas with en-suite bathrooms are available, with Mediterranean architecture and exceptionally expansive verandas from which to take in the view (Agnades means “looking over horizons”). Bathe like Aphrodite in your own private pool, the properties are finished to the highest of standards (ISO) and come with air conditioning as standard. This is an idyllic environment with unparalleled natural beauty. Property prices start at €452,000 plus VAT.
For more information on Agnades Villages 1 & 2 or buying property in Cyprus, contact Aristo Developers on free phone 0800 856 3338or visit www.aristodevelopers.com.

Beautiful moreish Moorish architecture

by Charlotte Ashton Spain

When one culture mixes with another, what lasts is often what works. In Britain it was Roman roads and baths. In Spain it was, and remains, the architectural heritage and style of the Moors. First introduced from North West Africa 1,300 years ago, the beautiful and striking essence of Moorish architecture remains and continues to be a template for property builders and developers in the area.

 

Their presence may have disappeared 500 years ago, but their Islamic architectural influence very much remains in the character and heritage of areas like Granada, often termed the ‘Moorish jewel’. The best surviving historical examples of it dating back to the 14th and 15th centuries are La Mezquita, the Roman Catholic Cathedral and former Mosque in Cordoba, and the Alhambra Palace in Granada.

 

The Moorish style features more than just horseshoe arches and intertwining patterns. Elaborate decoration, intricate mosaic work and ornate ceiling carvings also play their part, as do the regal surroundings. This is most notably characterised by the presence of an interior courtyard or ‘riad’, which has its origins in Morocco and other parts of the Islamic world in the Middle East.

 

Also at the heart of any Moorish building is the use of nature and light. Many Moorish features emanate from the desert-like conditions found in parts of North West Africa, on the edge of the Sahara. The use of water is central and hugely important to the Moorish style. Every part, be it a room, a courtyard or a garden, utilises water. Indeed, interior courtyards typically feature a spring of running water from nearby mountains. Fountains, reflecting pools and tiny canals that run through floors combine aesthetics with cool refreshment from the year round weather.

 

As important as the use of water is the use of light. Depending on the property and the room or courtyard, the light may be full, filtered, reflected, or made to create elaborate designs across floors according to taste. Double height ceilings are also typical, ensuring the retention of the Mediterranean light well into the evening. Both the use of water and light, introduced over 1000 years ago, were considered highly sophisticated at the time compared to existing practices throughout Europe.

 

Architectural history continues to have a direct link to the present and the future. This can easily be seen in the work of architects such as Francisco Pastor Gil and Alfonso Bermejo Oroz, responsible for the Champneys Marbella development. Their work on a Museum building at the historic Alhambra Palace, which is protected by UNESCO as a World Heritage Site, mirrors many of their property developments and their award winning pursuit of the Moorish style in a modern context. Their projects have been published in prestigious publications in Spain and throughout Europe.

 

Apartments and penthouses in the style are available in exclusive luxury resorts within the hills of Marbella’s National park at Champneys Marbella. This development boasts Moorish architectural features in an idyllic location overlooking the coast line of Marbella and Puerto Banus. The continued success of the Champneys Marbella development despite global financial pressures is no surprise, says Sales Director Julia Norton. “The reason why we’ve managed to buck any downward trends is because buyers recognise the innate attractiveness of the apartments and penthouses themselves, as well as the resort. Their beautiful, striking interiors and palatial, peaceful surroundings melt the heart of the most hardened individual. The whole development combines the best of the Champneys spa lifestyle with the stunning climate of the Mediterranean.”

 

Prices start from €696,358 for 2 bedroom apartments. There are just two 2 bedroom penthouses available at €971,729 and €1,026,705. Also available are 3 bedroom 3 bathroom vast duplex suites with private pool, two parking spaces and two store rooms at €1,700,000.

For more information contact 01442 291200, email sales@champneysmarbella.com or visit www.champneysmarbella.com.

Invest in Egypt for a Fraction of the Cost!

by Charlotte Ashton Egypt

 

The Telegraph and the Guardian newspapers recently ran stories about the dramatically rising popularity of Egypt as a holiday destination among Britons. The rise has been attributed to a unique combination of factors such as the amount of investment the nation has consistently been ploughing into the upgrading and promotion of its tourism product, and the fact that Egypt lies firmly outside of the expensive eurozone. The Foreign Office and ABTA have jointly reported that there has been an increase of almost 40% in the numbers of Britons choosing Egypt too, proving that this is a country with a rapidly advancing tourism market.
Tourism in Egypt has become a leading sector for the nation’s economic development, and as a result the authorities are working closely with the private sector to ensure that everything is in place to advance the appeal of the industry. So far this year they have announced that tourism businesses will not have to contribute the usual fee that goes towards international promotion of Egypt, this is to ensure that all remain profitable if the global economic situation has an impact on Egypt. Meanwhile, the country is continuing its heavy international promotion with the launch of ‘Visit Egypt 2009’ in India for example. Egyptian tourism officials believe that soon-to-be-released statistics will show almost a 20% increase in visitor arrivals in 2008 compared to 2007, and the World Travel & Tourism Council predict that Egypt’s Real Travel & Tourism activity growth over the next 10 years will average at least 7%.
Clearly these are all signs that the time is right for a closer look at what Egypt has to offer the property investor and real estate consumer, because where the tourism market leads, so a nation’s property market tends to follow. Naturally as an emerging destination the nation’s property market was starting from a very low level price-wise, and this has been helped by the fact that properties are not sold in euros. The property market has been further boosted by the increase in cheap flight operators arriving in Egypt, by the improvements in transparency in the ownership process and because of the potentially strong rental and capital appreciation returns. In a bid to further fuel interest in the market, Egyptian developers have been particularly aware of the need to diversify the methods by which purchasers can make an entry into the market as well. This has led to the most astute developers considering fractional ownership schemes.
Fractional ownership is a legal framework that allows for the division of ownership of a property into shares, with shares being sold at a greatly reduced price compared to the full ownership cost. Someone who therefore buys into a fractional property actually purchases a specific right to use that property for a fixed period of time annually, but at a much cheaper price than if they had to buy that property outright and maintain it. Buyers have the advantage of owning a stunning home abroad for the period of time that suits them, and having a home that is fully managed by a professional team year round; meaning that the owners arrive for their fixed weeks’ occupancy to a property that is clean, properly maintained and ready for their occupancy. This particular method of purchase is increasing in appeal internationally, with a report in the Telegraph highlighting how the trend initially grew in appeal in America and has now become hugely popular on this side of the pond. Buyers benefit from the fact that when they are not using the property they are not paying for it, yet at the same time the property remains well looked after and in a pristine condition, ensuring that the underlying value of it, and in turn the owner’s share of it, can rise in line with market conditions.
Not all developments are accepted for fractional ownership approval however, a development has to be high grade and one fractional ownership consultancy admits to having to turn down 85% of applicants because their developments and sales personnel are just not appropriate for the model. Therefore the Palme Royale five star resort near Hurghada in Egypt, which will be managed by a leading Swiss hotel chain, had to prove itself in order to become one of the premier fractional ownership offerings in Egypt. This development stands head and shoulders above many others because of its superior properties and the amenities it boasts such as a private shopping mall with designer outlets, five star restaurants, health spa and beachfront setting. Properties available for sale include apartments, townhouses and hotel suites from £65,378 and Experience International has not only secured the right to sell these properties on a fractional ownership basis but at 10% discount on pre launch prices. For more information please contact Experience International on 0207 321 5858 or visit www.experience-international.com.

Top Tips for Buying the Right Ruin in Spain

by Charlotte Ashton Spain

The dream of buying up an undiscovered renovation project with bags of potential in a stunning part of the world is one that many people share – whether the favoured location is Tuscany in Italy, Normandy in France or Murcia in Spain, the dream consists of finding a well priced property project with plenty of scope for personalisation and transformation.

Since there’s been a decline in interest for buying faceless homes on mega developments, particularly in Spain, it seems that people’s passion for taking on a property renovation project has in fact increased. Further fuelling the dream of controlling the development of a perfect property is the financial aspect of buying an affordable ruin and gradually working on the redevelopment of it as and when funds become available. This suits those who cannot raise funds to purchase in any other way, those who like the thought of buying cheaply in a weak market and adding real value, and those who no longer feel good about spending money they don’t have in the form of a mortgage! Therefore, if you fall into any of these categories and it really is your dream to find the perfect renovation project in Spain, here are essential tips to consider in order to buy the best ruin with the most potential for your budget: –
– Think about why you’re buying the property and let this guide you. If you’re buying a property to live in, the practical aspects of everyday life will be more important to you than whether the home has room for that all essential pool that holiday homes and rental properties need. This consideration should be taken further too – i.e., you need to think about the accessibility of any property, it’s proximity to essential amenities and services such as electricity and water supplies, and ultimately, you need to research and determine whether you will have planning permission granted to enable the renovation to take place.
– Get a reputable lawyer on board to help you research the right of the vendor to sell and whether the property is being sold free of any debts or claims against it. The land title needs to be carefully investigated to ensure you’re buying what you think you are, that land boundaries are identified and that there’s no chance anyone can impound the property or lay claims to it in the future, or prevent you from developing it.
– Look realistically at your finances before you proceed. You will need to afford the property, buying fees and then afford to have the renovation work done. Get quotes from builders that include professional fees, final finish and any money you will have to pay for planning permission, building regulations etc., then have a healthy contingency budget – just in case!
– Be realistic about how long the entire project will take – and remember that it could take months to get the permissions you need to start and to secure the services of the builder you want to do the work. Anything from the weather to public holidays can and will affect build time, so don’t set unrealistic time goals.
– And finally, once you have transformed your Spanish ruin into the palace you always dreamed of, what are you going to do with it? If you want to let it out have you marketed it? If you want to retire to live it in have you sold your UK property? If you want to resell it for profit, can you afford to potentially ride out any period of economic downturn that Spain may still be experiencing? Have an exit strategy in mind that is flexible and viable.
In terms of what’s available, you’ll truly be spoilt for choice – currently for sale from one agency in Spain, Casas de Lorca, are the likes of Finca in Diputacion de Nogalte in Lorca which is in Murcia. This is a beautiful 200m² house with great potential, incredible views and situated in a peaceful location. It comes with 14,000m² of land, but it does need a lot of work! Location-wise it has good access and is only minutes away from the motorway and less than an hour from the stunning nearby coastline.  Electricity runs beside the property and a water deposit could easily be installed, this particular property is available for sale for €105,000/£83,000. Alternatively, what about Finca in Aguaderas which is also in Lorca – it’s a mega project with a 14+ bedroom property which is composed of one large main house and 2 separate guest houses. There is a BBQ and entertaining area that comes with the impressive 1,500m² of property and 20,000m² of land, and this renovation project might make an ideal hotel or business venture.  The location is ideal as well as it is close to Lorca and close to the motorways too.  This property is available for the price of €695,000/£550,000.
For more information please contact Casas de Lorca on 0844 734 8057 or visit www.casasdelorca.net.