Living on the Turkish waters is a delight

by Charlotte Ashton Turkey

 

With competition for maritime tourism in the Mediterranean hotting up, Turkey is aiming to expand its slice of the lucrative European cruise and yachting market. As part of the Turkish government’s ambitious plans to encourage tourism, which earned a record $18.5 billion for the country last year, the push to attract more cruise liners, yachts and pleasure-craft is also promoting the coastal property market, where most foreigners are buying.
 
Cruises are one the fastest expanding tourism sectors in Europe, with a record four million Europeans taking a cruise holiday in 2007. To increase its share of this market, a series of modern cruise liner terminals have been developed along the Turkish coast. The country’s largest is in the Aegean resort of Kusadasi, with an estimated 700,000 tourists passing through its $20 million terminal in 2007 on their way to the nearby Roman city of Ephesus and other local tourist attractions. Istanbul, Dikili, Izmir, Bodrum and Antalya – which is to undergo a £3 million expansion- are other popular ports-of-call on the Mediterranean, Aegean and Black Sea cruise circuits.
 
In common with the growth of cruise tourism, boat ownership has grown dramatically across Europe in recent years with competition for the limited number of berths and rising costs in the marinas in the western Mediterranean encouraging more and more yacht owners to look east towards Turkey. Between 700,000 and 1 million pleasure craft cruised the Turkish Mediterranean in 2007 according to official figures.
 
 “With its reliable summer winds, dramatic, unspoilt coastal scenery and varied on-shore attractions, Turkey is one of the premier yachting destinations in Europe. Another big draw are the Greek islands of Lesbos, Chios, Samos, Kos and Rhodes just off-shore,” explains Dominic Whiting, editor of the Buying in Turkey guide, www.buyingin.co.uk. “Facilities have improved dramatically in recent years with modern marinas in many resorts and berth fees well below other more established yachting destinations like Spain or France.”
 
Modern marinas are located in Istanbul, Bodrum, Marmaris, Gocek, Kusadasi, Fethiye, Kemer and Alanya, with new facilities planned or under-construction in Cesme, Sigacik, Didim and Kas, and government plans anticipating an eventual increase in marina capacity to 25,000 berths. The Didim Marina, currently being built in the popular package resort of Altinkum, will be the country’s third largest when it is completed in 2009. It will include an extensive dry dock and 450-berths. Meanwhile, international marina operator Camper and Nicholsons, who own the Port Gocek marina in Gocek, are re-developing Cesme Marina, which will re-open in the Aegean resort of Cesme in Spring 2009 with improved facilities and a 375-berth capacity.
 
The development of cruise tourism and marinas is having a positive affect on the property market along the Turkish coast. In addition to widening the appeal of the country as a holiday destination, particularly at the upper end of the market, economic growth and job creation are encouraging demand for housing in the resorts, pushing up prices and increasing rental potential for local property owners. Despite significant increases in property values over the last 5 years and an upsurge in the number of foreign buyers – there are over 21,000 British-owned properties in the country today- Turkish property remains cheap in comparison to more established Mediterranean markets, such as Spain.
 
“Property in the up-market yachting resort of Gocek is some of the most expensive on the Turkish Riviera, with villas costing from £250,000 to well over £1 million; but elsewhere it is still possible to pick up a great value property within walking distance of a slip-way,” says Dominic Whiting, editor of the Buying in Turkey guide. “In Altinkum, for example, apartments just a short walk from the new Didim Marina are available for less than £50,000.”
 
 
For more information about property in Turkey contact Buying In Turkey on 0845 351 3551 or visit www.buyingin.co.uk.
 
——— ENDS ———
 
Editors Notes:
 
Akkaya Gardens, Dalaman 
Award winning two-bedroom apartments in the unspoilt Akkaya valley which is only 15 minutes from the marinas of Gocek. The complex has a large communal pool and all the properties have sweeping views of the surrounding mountains and a picturesque lake. Prices start from €58,330 / £46,200. For more details contact the Buying In Turkey Collection on 0845 3513551 or visit www.buyingin.co.uk.
 
Sun Complex, Didim/Altinkum
A selection of luxury 2 and 3 bedroom and duplex apartments located only 400 metres from the resort´s second beach and within easy walking distance of the waterfront and the centre of town. Prices range from £40,000 – £53,000 for the apartments, to £72,000 for the duplexes. For further information on this excellent investment opportunity contact Buying in Turkey Collection on 0845 351 3551 or visit www.buyingin.co.uk.
 
Lakestone Villas, Akkaya
Ideal for boat-owners whose budget won’t stretch to Gocek prices, but who want to be close to the action. Luxury 4 bedroom, 3 bathroom villas set within six acres of landscaped garden with large communal pool and great views in Lakestone, Akkaya for £141,000 / € 178,000 for more information contact Buying in Turkey Collection on 0845 351 3551 or visit www.buyingin.co.uk
 
Villa Sunset, Kas
For a view of the yachts sailing into Kas’s new marina… Villa Sunset is a spacious 4 bedroom villa with direct access to the sea via a private path. Situated in stunning landscaped gardens and with an infinity pool the property has a breathtaking double-height living area with vaulted ceiling and incredible views. All bedrooms have ensuite bathrooms and private balconies. Prices £500,000 / €630,000 for more details contact Buying in Turkey collection on 0845 351 3551 or visit www.buyingin.co.uk
 

Brits look towards the South American Mediterranean

by Charlotte Ashton Venezuela

 

The latest figures released by the state of Nueva Esparta in Venezuela show that Europeans, and especially the British, are increasingly falling in love with the best kept secret in South America. Located off the North East Caribbean coast of the country, it comprises three picturesque islands with a total population of less than half a million. Figures from the Nueva Esparta tourism corporation, Corpotur, show a 3.42% increase in visitor arrivals (2,045,143) to the state for the period Jan – September 2008.
 
´State of New Sparta´ as it was named in 1864 measures 50 miles by 12 and its main land mass is Isla Margarita founded in 1525. The state’s name comes from the heroism shown by its people during the Venezuelan War of Independence, thought similar to that of the Spartan soldiers of Ancient Greece. Isla Margarita, known widely as the “Pearl of the Caribbean”, benefits from being outside the hurricane belt with an average climate of 27 degrees Celsius. It boasts little rain, a variety of natural scenery from mountainous terrain to lush vegetation and over 200 miles of sandy beaches. The area around the main town, Porlamar, offers a large number of facilities and activities for visitors including an 18 hole golf course, shopping, windsurfing, scuba diving, snorkeling and hiking. For this reason it has been a popular vacation destination for around 30 years.
 
These once undiscovered islands and their rich history is something more and more people are travelling to experience. In 2007 2.5 million people visited Isla Margarita alone, over five times its population. However, this masks the full story. Nueva Esparta has remained largely hidden to those from outside the area as most visitors come from mainland Venezuela. 91% of visitors in 2008 thus far arrived from Venezuela, suggesting a still traditional destination unspoiled by western tourism. Nevertheless, word of mouth about the islands and their status as an undiscovered haven is increasingly reaching more and more potential visitors further afield.
 
Since 2001, the percentage of hotel rooms occupied by visitors to Nueva Esparta has more than tripled to 76%. Europeans are the most enamoured by the islands, making up the vast majority of international visitors. 60,000 Europeans make the journey compared to only 25,000 from the rest of the world. The tourism figures also revealed the love affair an increasing number of Britons are having with Nueva Esparta. Now the third major international tourist market, nearly 10,000 British tourists visited the islands during the last year. This represents a 38% increase on the previous 12 months when around 6,500 Britons visited.
 
In addition, other northern European countries have also discovered Nueva Esparta and Isla Margarita. The Dutch, Danish and French are nearly as eager as the British, with the keenest Europeans coming from Germany with around 15,000 visitors. Like their ancestors hundreds of years ago, Europeans are increasingly interested in Nueva Esparta. This is particularly the case with northern Europeans looking for an alternative sunny island retreat from the Mediterranean norm, with a Caribbean style twist as well.
 
Significantly, a further reason accounting for the increase in British and European visitors to the islands is their accessibility from major cities and airports. The third most popular of all charter flights to Nueva Esparta is the First Choice flight from either Gatwick or Manchester airport which in the first eight months of 2008 brought almost 9,000 people. With its activities, facilities, views and beaches it offers a competitive and distinctive alternative to the familiar European destination. Whether it is for holidaying, visiting or retiring it represents an interesting new location as well as an untapped buy to let opportunity.
 
Mark Andrew, Managing Director of Emerging Earth who is marketing the Caracola Beach & Spa Resort near Porlamar, said:
 
“Isla Margarita in Nueva Esparta has remained undiscovered for most tourists across the world but this will not be the case for long. Over the last five years Europeans have become increasingly attracted to this unspoiled part of the world, a part that reminds them of the best of sunny island living. Demand among Venezuelans for accommodation sees no sign of abating either and their continued fascination with the islands demonstrates the reason why more and more outsiders keep returning, particularly those from Europe. We expect demand for property and accommodation over the next few years will continue to grow, above all for apartment resort developments where facilities and close by tourist attractions are plentiful”.
 
 
Notes for Editors:
 
Caracola Beach & Spa Resort, Isla Margarita
 
The Caracola Beach & Spa Resort comprises of a variety of apartments and duplexes spread across 15 floors, most with stunning views of the beautiful Caribbean beach. The development boasts excellent facilities that include restaurants, bars, swimming pools, chill-out areas, spa, gymnasium, beauty salon, high end retail outlets and beautifully landscaped gardens. All apartments are 1 or 2 bedroom and have air conditioning, are spacious with large terraces, fully furnished and come with a guaranteed rental return of 7% pa net for 10 years. This investment purchase is SIPP qualifying and offers tax efficient freehold ownership. Prices start from €79,000/ £63,000 for a one-bedroom apartment.
 
For more information, please contact Emerging Earth on 0845 604 1208, email team@EmergingEarth.com or visit www.EmergingEarth.com.
 

House prices in Lorca, Murcia defy crisis to grow significantly…

by Charlotte Ashton Spain

 

According to the Spanish Ministry of Housing, the Murcia region of Spain is one that is defying well-publicised negative trends instead showing healthy house sales. The latest figures show that in the first two quarters of 2008, the number of property sales in the province has risen by 11.2%, from 2,288 in the last two quarters of 2007 to 2,545 sales.
Confidence in the Murcia region is growing and this is highlighted further when looking at the town of Lorca, specifically. Located in South-West Murcia, Lorca is surrounded by stunning mountainous terrain and as a town boasts many architecturally interesting buildings, borne out of its great historical past. Here, according to Spanish portal Kyero.com, average house prices have risen 6.5% year-on-year from an average of €246,000 in Quarter 3 2007 to €262,000 in Quarter 3 2008, showing that this is one region where the property market remains buoyant, with the 2008 figure 6.9% above the Spanish average asking price of €245,000.
Interestingly, Kyero.com shows that it is larger properties that are mostly bucking the trend – with the average price of 3 bedroom houses in Lorca increasing 0.8% from Quarter 2 2007 (€245,000) to Quarter 2 2008 (€247,000) and 4 bedroom homes increasing in value further still, by 3.1%, from €291,000 in 2007 to €300,000 in 2008. Mike Hamilton, MD of leading Murcia developer Casas de Lorca explains that this highlights a growing trend,
“We have noticed that when relocating to the Lorca area, more and more people are looking to buy larger properties, with the space and privacy of larger plots that simply cannot be found in the high-rise developments of old. This is why it is these properties that are increasing in value and desirability – as a growing number of people recognise the value of space in and around a property, as well as experiencing the authentic Spanish way of life that can truly be found in the Lorca area.” 
Fitting with the Spanish Ministry of Housing trend that most transactions are for new properties (with 2,083 properties sold in the Murcia region being new-build in Q1 and Q2 2008, up 61.7% on the last two quarters of the previous year), Casas de Lorca build bespoke villas on 5 acre plots of land in the stunning scenery surrounding the town of Lorca in the region. With more and more people choosing the space of a larger villa and more land, properties are proving increasingly desirable, with the Casa Mallorca 4 bedroom villa available at £244,000/ €329,000 boasting breathtaking views and classic architecture. To find out about this and other properties available within 5 acres of land, contact Casas de Lorca on 0844 734 8057 or visit www.casasdelorca.net.

Egypt: an Oasis in the Credit Crunch Climate

by Charlotte Ashton Egypt

 

As the world experiences credit crunch, Egypt’s coastal resorts are an oasis in the midst. Low property prices offer investors an affordable entry point and combined with its position outside of the euro zone makes it a very attractive emerging real estate market to consider. Its physical location too means that it is a prime winter sun destination giving the country year round tourism appeal. As the arid credit crunch continues what does this mean for one of the world’s most ancient civilisations?
 
The World Travel and Tourism Council (WTTC) saw a steady growth of tourism in Egypt in 2007 and in a recent report has stated that the expected growth for the travel and tourism economy for the country in 2008 is expected to be 5.5%. Experience International is a leading specialist in emerging property markets such as Egypt. They have seen an increasing number of people taking the step and investing in its strong economy, its stable political system and stable currency. Steve Worboys, Director of Experience International says:
 
“Egypt is a modern state and as a country we have seen it grow as a tourist destination over many years due to its rich history and unique attractions such as the pyramids; now though people are increasingly seeing its potential as a place of investment for both remuneration purposes and the fact that it is a year round holiday destination.”
 
The increase in the number of visitors to Egypt has boosted the country as a whole with the travel and tourism sector seeing rapid growth. The WTTC reports that it expects to see a rise in the number of people employed as a direct result of tourism in Egypt, hitting a record of 1 in every 6.9 jobs by 2018. Currently the figure is 1 in 7.4 jobs with 2,833,000 people being employed in the tourism sector. 
 
In a recent article published on Arabianbusiness.com Ahmed El-Nahas the chairman of the Egyptian Tourism Federation (ETF) commented on Egypt’s current position: “The past couple of years have been very positive for Egypt. We have seen a major increase in tourist arrivals. In 2006, we had over 9 million tourists visit Egypt. The plan was an annual increase of 1 million, which was surpassed in 2007 when the arrival figures reached 11 million tourists. The ongoing efforts of the Ministry of Tourism and the Egyptian Tourist Authority will hopefully reap 14 million tourist arrivals by the end of 2008.”
 
It is not just the tourism sectors that have seen positive shifts in position. The Jones Lang LaSalle’s most recent report, Global Real Estate Transparency Index, shows that Egypt is now 59th out of the 82 countries and in the top 10 most improved countries around the world; which is a significant achievement. Its practices, integrity and the opportunities available to investors to get a good deal have all been factors in its move up the table. Steve Worboys goes onto to say: “According to the WTTC Egypt is 17th in long-term growth and as more developers and companies look to invest there we at Experience International expect to see a significant increase in those looking to purchase property.” 
 
As well as Egypt’s continuous economic growth one of its fundamental appeals is its year round visitor appeal. Egypt sees a mere 80mm of rain a year and even the winter temperatures stay around a very comfortable 22c to 31c. The sea is also still warm during the winter months which is good for the thriving water sports that resorts such as Oasis Marina in Hurghada host. Located in the fast developing Al Ahyaa district to the north of Hurghada, just 3km from the luxury resort of El Gouna, famed for its lagoons, marina and PGA Championship golf course Oasis Marina is situated on the Red Sea Riviera with 50,000 metre squared of beach front. Steve Worboys concludes: “With a diving and aqua centre, beach club and state of the art spa centre Oasis Marina boasts fantastic facilities in a thriving area.”
 
As the UK dries up in financial uncertainty springs are forming in the Egyptian property market and this is something that Andy Parkin an investor in Oasis Marina testifies to: “I first visited Egypt back in 2005 and was intrigued by the culture and history of the country. I found the people really friendly and I bought a book that not only expanded my mind on the country as a whole but gave me a good overview of the potential the country has as an emerging market.” Andy goes onto say:  “The fact the government are investing inwardly is a good sign to me that the expansion of the tourist and property market is no short term plan. I look forward to using the property myself as well as reaping the rewards in making such an investment.”
 
Andy purchased a 2 bedroom villa through Experience International and was able to buy his property in cash due to an inheritance which meant he could take advantage of a cash rate discount. Andy bought his property for £58,500 and really looks forward to using it with his family and friends when the property in completed in December 2009.
 
For more information on Egypt and Oasis Marina in Hurghada contact Experience International on 0207 321 5858 or visit www.experience-international.com.
 

Pearl of the Caribbean: a Retirement Paradise

by Charlotte Ashton Venezuela

Enjoying in excess of 340 days of sunshine a year and with temperatures only fluctuating by about 4ºC during the entire year, the Caribbean island gem of Isla Margarita is considered a paradise by all those who visit and all those lucky enough to reside on the island. Located off the northern shores of Venezuela, outside the hurricane belt and well within the Caribbean’s inimitably desirable waters, this once lesser-known tropical island is rapidly becoming a tax-free tourism and retirement hotspot with Britons, Northern Europeans and Americans.

Now directly accessible from the UK, Britons in particular are warming to the charms of Isla Margarita as it represents the complete antidote to all that is wrong with Great Britain! With a healthy economy bolstered by rapidly advancing tourism, with western amenities, advanced infrastructure, stunning white sandy beaches and a tantalising tropical landscape, Isla Margarita truly represents a paradise-like setting for those in search of a home away from home abroad.
As a less well-known and therefore less developed Caribbean destination, Isla Margarita has emerging market status, meaning that it offers an affordable entry point for those looking for Caribbean property – and there are many other incentives in place currently to invite, encourage and entice strong levels of investment commitment as well. For example, anyone thinking about moving to live on Isla Margarita will quickly learn of its tax and duty free environment, of its transparent property ownership laws, the ease of immigration and the far lower costs of day-to-day living on the island compared to those in the US, UK and the rest of the Caribbean.
Unlike other South and Central American nations, the authorities on Isla Margarita want to make it as open and welcome a country as they can for overseas retirees for example. You can contrast this with Panama which has recently placed much stricter restrictions on those who want to own a home in the nation and benefit from its tax efficient and affluent economy. Where once one could buy an affordable home in Panama and obtain residency status with proof of only a low monthly income, nowadays there is a high minimum property price imposed upon foreign buyers who also have to prove a far stronger source of foreign generated monthly income before they will be granted residency status.
According to Mark Andrew, MD of Emerging Earth, experts on all aspects of buying a property and relocating to Isla Margarita: “It’s absolutely in the island’s best interests to attract growing numbers of Western citizens. These people raise awareness of the island internationally, they encourage greater investment and they are genuinely made to feel welcome. Because the prices for everything from property to food, from medical care to furniture are so much more affordable on the island too, this, together with Isla Margarita’s tax-free status, is leading more and more Britons in particular to establish a new home on the island. As the British economic climate becomes as miserable as its actual climate, so more Britons are looking for a haven where the weather is as glorious as the lifestyle – and for such individuals, the now easily accessible island of Isla Margarita makes perfect sense.”
Whether you’re ready to retire or you’re looking for a bolt hole in the sun, you’re after a secure investment choice or somewhere you can call home, there are five star, fabulous residential communities being developed on the island which you can retire to, live in, profit from or simply sit on until you’re ready to relocate to paradise! One such community is the Caracola Beach and Spa Resort. Situated on the beach on the outskirts of the island’s main city, the resort comprises of a variety of apartments and duplexes with stunning views of the beautiful Caribbean ocean, and the resort development boasts excellent facilities such as restaurants, bars, swimming pools, chill-out areas, a spa, gymnasium, beauty salon, high end retail outlets and beautifully landscaped gardens.  All apartments are 1 or 2 bedroom and have air conditioning, are spacious with large terraces,come fully furnished and with a guaranteed rental return of 7% pa net for 10 years for those who want to purchase a property as an investment.  An investment purchase is also SIPP qualifying and offers tax efficient freehold ownership options.  Prices start from just €79,000/ £63,000, and for more information please contact Emerging Earth on 0845 604 1208 or visit www.EmergingEarth.com.

New golf course to take Altinkum up-market

by Charlotte Ashton Turkey

 

Plans for a £22.8 million ($40 million) golf resort in the Turkish holiday resort of Altinkum have been given the go-ahead by local planning officials and the Turkish Ministry of Culture and Tourism. Atlas, a Turkish steel and shipping company, is developing the 18-hole golf course and residential village on a 170 acre site close to the Aegean resort, which is a popular destination for package tourists and property buyers from Britain.
 
“According to local press reports, Atlas have secured a 49-year lease to operate a golf and holiday resort in Altinkum. This will be a major boost for the resort, particularly with the opening of the new 450-berth Didim marina next year. It will certainly broaden the area’s appeal and have a positive affect on the property market,” says Dominic Whiting, editor of the Buying in Turkey guide, www.buyingin.co.uk
 
The development of golf and yacht tourism is a key part of the Turkish government’s plan to expand and diversify the country’s tourist industry. Turkey was one of the top destinations for British tourists this year and the country is expecting over 24 million international visitors for 2008, up over 15% on last year.
 
The Aegean resort of Altinkum has attracted over 8,000 British property buyers thanks to the area’s low property prices with new apartments still available for under £30,000. However, the new marina and golf course are expected to encourage demand for higher-end property, while also extending the tourist season into the winter months, which provide ideal golfing conditions.
 
To find out more about property in Altinkum download a free copy of the Buying in Turkey guide at www.buyingin.co.uk or call an advisor on Tel 0845 351 3551
 
——– ENDS ———
 
Properties on the market:
 
Sun Complex 4, Altinkum, Turkey
A selection of luxury 2 and 3 bedroom and duplex apartments located only 400 metres from the resort´s second beach and within easy walking distance of the waterfront and the centre of town. Prices range from £40,000 – £53,000 for the apartments, to £72,000 for the duplexes. For further information on this excellent investment opportunity contact Buying in Turkey Collection on 0845 351 3551 or visit www.buyingin.co.uk.
 
Jupiter Apartments, Altinkum, Turkey
An intimate collection of three bedroom apartments complete with front and rear balconies. Close to the town centre and local beaches, the apartments are ideally located for both residential and holiday use. Priced at £29,000, for more information contact Buying in Turkey Collection on 0845 351 3551 or visit www.buyingin.co.uk.
 

Sales of High End Properties in Marbella Defy Current Market Trends in Spain

by Charlotte Ashton Spain

 

Champneys, the largest destination health spa group in the UK, have defied the credit-crunch by reporting strong sales of properties at their exclusive Spa Resort in Marbella indicating that high-end properties are still in demand despite the current economic slow-down   All but two of their million Euro penthouses at the Spa Resort in Marbella have been sold since March this year, outselling the less expensive apartments.
 
The popularity of the most exclusive properties on their first overseas luxury development is in-line with the current trend of the global super prime property sector that saw a rise in prices of 11% last year according to a report released by Knight Frank in April 2008. They are a niche of investors who are prepared to pay the top prices and are undeterred by whatever may be going on at the lower end of the market. Many high end purchasers are from countries which have triumphed due to the commodities boom and want to invest in second or holiday homes. In a recent report by The Independent newspaper, Knight Frank identifies a similar trend with London property stating that "residential properties valued at £10m or more increased in value, by 2.9 per cent in August alone".
 
Marbella remains one of the most sought after locations for the world´s super rich although due to town planning irregularities there is a shortage of quality new developments in the area. Tony Roberts, Sales Director of Champneys Marbella comments "Marbella is still desirable and despite economic issues, bricks and mortar is still good.”  The added attraction of Champneys is that owners can submit their property to the rental pool for the months that they are not using it and gain a return on their investment. Taking an average occupancy rate of 65% of 323 days of the year; owners could expect excellent returns.
 
In addition, an increase in square metre prices this year makes such property all the more attractive to wealthy investors. In a recent article in the Diario Sur newspaper it was commented that “According to the latest figures, the square metre price has gone up by 1.65 per cent in Marbella during the last year. While most house prices are plunging as a result of the current economic crisis, Marbella has not yet been as badly affected by the situation in the rest of the province of Malaga and for that matter the rest of the country.”
 
The successful sales results for Champneys Marbella Spa Resort reflect the fact that the top end of the market is not as susceptible to market conditions as the mainstream and there is no sign of a decline in demand for these types of properties. William Claridge, a successful businessman from Bedford and avid fan of the Champneys Springs Resort spotted an opportunity to combine sunshine with his passion for spas and has bought in the Marbella resort. He comments “Even though the credit crunch is being heavily documented in the press, those that can afford it are less likely to feel the pinch. And despite the prices already rising in the Champneys development it is still affordable especially as it makes such a good investment.” 
 
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. Apartments and penthouses are available in the exclusive luxury resort combining the Champneys spa lifestyle and stunning climate of the Mediterranean. Prices start from €696,358/ £552,492 for 2 bedroom apartments. There are just two 2 bedroom penthouses available at €971,729/ £770,966 and €1,026,705/ £814,622. Also available are 3 bedroom 3 bathroom vast duplex suites with private pool, two parking spaces and two store rooms at €1,700,000/ £1,348,836.
 
For more information contact 01442 291200, email sales@champneysmarbella.com or visit www.champneysmarbella.com.

A home in Spain means nothing but the same?

by Charlotte Ashton Spain

 

Despite the slowdown in the Spanish property market there is still an astonishing volume of new properties coming onto the market targeting the holiday home buyer. So why, asks Mike Hamilton, Director of Murcia based Casas de Lorca, is the vast majority of Spanish property stock aimed at the holiday home market when over 70% of clients are looking to buy in Spain to live there full time?
 
“The first point to make” says Hamilton, “is that the difference between the two property styles is significant in itself. Apartments and duplexes and even some villas are built for short term accommodation; they are often smaller than your average home in the UK, with fewer appliances and accessibility can sometimes be a problem for the less mobile. You also have to bear in mind that out of the holiday season many resorts become like ghost towns with local shops operating restricted hours and few permanent residents. The 112m2 minimum detached villas that we construct on individual 5 acre plots around Lorca offer accommodation suitable for full time living with local stores providing year round supplies and the properties themselves offering a lot more space and freedom to make a real home.”
 
The OPP Spanish report in July 2008 extensively researched the market for Spanish property and concluded that 71.4% of all clients wishing to purchase in Spain were looking to live there full time; Mike Hamilton has seen these findings backed up in his own research: “75% of clients enquiring for property in our area of Murcia are looking to live here full time which just shows that there has to be a massive shift in the way we look at where and what we are building.” 
 
As an established real estate developer in Spain, Casas de Lorca, has seen the market rise and fall and in the current conditions has now chosen to not only look at what the statistics are really saying but also change the mind set and assumptions that are made about buying property in Spain.
 
“The last 5 years has seen a dramatic increase in the amount of residential development in Spain” says Hamilton: “and expats who have relocated and retired to the country are now ending up very disillusioned as well. This is a great shame as some areas of the Spanish coast are now being tagged by the retiree community as being areas that promote ‘First world prices, third world services, and underworld practices’ as a recent article in The Spanish daily newspaper ‘El Pais’ reports. We at Casas de Lorca want to demonstrate in our work ethic and our high quality product that there are regions and companies that offer the ‘original’ Spain, taking people back to basics and offering a safe and sustainable place for people to retire and relocate to.”
 
‘El Pais’ goes onto report that sales to expats in the region of Costa Blanca fell by 50% in the first quarter of 2008 compared to last year. The article quotes Gerard Peret, a Swiss national who bought a home in 1990 in Orihuela Costa: “We used to love it, but now it has all changed because of excessive, out of control development, everywhere has been built up, and there are so many people.” And as Hamilton explains what the locals are witnessing is true: “What developers in the region of Murcia are continuing to try and push through the system is incredible; 51 new golf course development proposals in the last 5 years really shows what a desperate place Spain is in.”
 
“I must take us back to the statistics though” Hamilton says: “ We have to ask ourselves, why is over 90 percent of the new property coming onto the market aimed at the holiday home market when over 70% of clients are looking to buy in Spain to live here full time? The reasons are various, but in essence many developers have simply failed to understand how the Spanish market has been changing.”
 
“This discrepancy led to an over supply of holiday homes suitable for short stays which meant that many developers had to cancel their plans for golf and coastal apartment developments. Moreover many investors struggled to sell on their off plan holiday apartments with the gains that they had been promised. This effect was heightened when the exchange rate plummeted from around 1.45 euros to the pound in Nov 2007 to 1.23 in April 2008, so many potential buyers decided to wait to see if the exchange rate would improve before investing.”
 
Brits buying property abroad, according to a recent overseas property ‘hot spots’ report compiled by Conti Financial Services, a UK leading overseas mortgage specialist is still highlighting that Spain is number 1 with buyers even though they have seen the gaps between overseas markets tighten. Simon Conn, Sales and Marketing Director at Conti Financial Services, says: “Spain and France are still leading the pack, albeit with a narrowing margin, and it’s not difficult to see why. Affordable prices, low interest rates, easy access and great weather have all contributed to the attraction of these destinations.”
 
So what is the future for Spain? And what is drawing buyers such as Drew Broadley to buy 4 plots of land in Lorca with one being put aside for his future hopes of retiring to the region?
 
In order to understand this we need to look at what other property markets have to offer and why Spain stands out; accessibility, climate, culture and of course price are the main factors to evaluate. Many investors have rushed to buy cheaper property in Eastern Europe attracted by low entry prices but it remains important to be sure about the accessibility, the climate and the culture as they may wish to sell the property in the future.
 
“Spain has a very strong future in international property. It is tried and tested and is the number one European destination for people looking to retire or relocate. In fact a recent report from Cater Allen Private Bank, part of Banco Santander claimed that over three million Brits are likely to buy a property overseas within the next two years as economic conditions in the UK make strong returns less likely”, comments Hamilton.
 
“I chose Spain to invest in because of its popularity with the British, the large number of retirees that are looking for something different and the simplicity and cost of return flights” says Drew Broadley, a retired buyer from Scotland. “Developers such as Casas de Lorca have focussed exclusively on lifestyle properties, building classically designed villas on 5 acres of land. This whole exercise was an investment and I cannot say enough as to how good Casas de Lorca was in handling the purchases.  It is extremely helpful to have English nationals on any Spanish estate agency team, it just makes the job so much easier and reduces the chance of a misunderstanding.”

Sales Director Mike Hamilton concludes: “We have continued selling at a controlled level right through the credit crisis and the downturn in the overall Spanish property market. People who are retiring or relocating cannot wait forever and flexible payment terms have allowed people to make their dreams a reality.”
 
To find our more about all that Casas de Lorca has to offer contact Mike Hamilton, Director of Casas de Lorca on 0844 734 8057 or visit www.casasdelorca.net.
 

Be inspired as Norwich has two forces to be reckoned with this November

by Charlotte Ashton Cyprus

 

A new exhibition on forces opens up at the Inspire Discovery Centre in Norwich this autumn and gives families and young people the opportunity to get more hands on than ever with all things scientific. The centre is used by members of the community and invites school groups, holds birthday parties and even lends out boxes full of various science activities to local scout and brownie groups.
 
Another force to be reckoned with this November is Aristo Developers as they come to town inspiring people about the popular family destination of Cyprus. “The run up to Christmas is a time when families come together and enjoy the holiday season; the importance of ‘family time’ is ever present in our minds,” says Martin Pearce UK Sales Director for Aristo Developers. The family is an essential element of what makes life in Cyprus special and we have come to show what the island has to offer as the perfect family holiday destination and how accessible and easy it is to buy property in the eastern Mediterranean.”
 
Cyprus is blessed with almost year round sunshine and a climate that has been described as the most perfect in the world – conducive for good physical and mental wellbeing. A holiday hotspot for all seasons, the island is also an affluent and successful addition to the European Union, a desirable location with those looking for a tax friendly place to retire, and a booming destination to invest in.
 
The Aristo team will be in Norwich for a special 2 day event at the Marriot Sprowston Hotel, Wroxham Road, Norwich on Saturday 15th and Sunday 16th November from 10am and they look forward to meeting you there. For more information on Aristo Developers and Cyprus call 0800 082 0601 or visit www.aristodevelopers.com
 
 

Bexleyheath boasts a bountiful November with Aristo also making a visit

by Charlotte Ashton Cyprus

 

November sees Bexleyheath open its doors to various events in the run up to Christmas including the Bexley Heritage Trust, Peoples Question Time with the chance to meet London’s Mayor, and a world record attempt at having as many Santa’s all in one place at the same time. If all this isn’t enough Aristo Developers from Cyprus are also dropping in for a visit and hope you’ll join them as they open the door to a life of sand, sea and your very own stunning property on the eastern Mediterranean isle.
 
Cyprus is blessed with almost year round sunshine and a climate that has been described as the most perfect in the world – conducive for good physical and mental wellbeing. A holiday hotspot for all seasons, the island is also an affluent and successful addition to the European Union, a desirable location with those looking for a tax friendly place to retire, and a booming destination to invest in.
 
Cyprus is possibly the most exotic nation in the European Union as well, despite its strong British feel and the lasting English influences on the island such as the fact that the old currency was the Cyprus pound, Cypriots drive on the left and the legal system in Cyprus incorporates a number of elements from the British system. Since it joined the eurozone and adopted the euro as its currency in January 2008, the already booming economy in Cyprus has continued to go from strength to strength, and this makes it an even more attractive location whether you’re looking for somewhere to holiday, live or invest.
 
“It is great to be taking some time to stop and enjoy the area of Bexleyheath and to meet the people who as the ‘Bexleyheath diary’ shows this November are a community that love coming together and having fun” says Martin Pearce, UK Sales Manager for Aristo. “With Cyprus adopting the Euro at the beginning of the year and the UK topping the list of tourist visitors to Cyprus we can only see the relationship between both countries and its communities growing.”
 
For more information on buying in or relocating to Cyprus come and meet the team from Aristo Developers at the Bexleyheath Marriot on Saturday 8th and Sunday 9th November or contact them on 0800 082 0601 or visit www.aristodevelopers.com.
 
——————————–ends————————————
 
 
Editors notes
 
 
6th November
 
Delectable Sweet Treats, Bexley Heritage Trust – An evening of your favourite desserts. For more information contact 01322 621238
Peoples Question Time, The Main Hall, Bromley civic centre – Your chance to meet the Mayor of London and Assembly Members and find out what they are doing for London and you. For more information contact 020 7983 4762.
8th and 9th November
 
Aristo Developers, Bexleyheath Marriot Hotel – Direct from Cyprus on their UK tour Aristo brings you all that Cyprus has to offer. For more information contact 0800 082 0601 or visit www.aristodevelopers.com.
15th and 16th November
Christmas Craft Fair, Hall Place and Gardens, Bourne Road, Bexley – Christmas shopping is made easy at Hall Place craft fair where you can buy traditional craft and more modern gifts.
23rd November
Santa’s on Broadway, Broadway Bexleyheath – Largest gathering of Santa’s – Guinness World Record Attempt. For more information call 020 8319 9235