The medical facts for home owners in Turkey

by Charlotte Ashton Turkey

 

Whether they are planning to live permanently, or only spend lengthy holidays in the country, medical care is top of the list of concerns for many British property buyers in Turkey. However, there is no reason to worry, with many people actually travelling to the country from Britain to take advantage of the high quality health services on offer.
 
Medical care in medical centres and hospital in Turkey is provided by board-certified physicians, many of who have previously trained in top U.S. or European medical programs.
 
“The quality of care is equal, and in many cases far superior, to that available in the UK. Most doctors speak English fluently, with private hospitals in the tourist areas having many English speaking staff,” says Dominic Whiting, editor of the Buying in Turkey property guide, www.buyingin.co.uk.
 
The cost of medical care is lower than in the UK due to the lower cost of living, lower staff and doctor’s fees and cheaper medication. In addition, the cost of medical care is lower because there is significantly less administration and paperwork. The vast majority of private patients in Turkey pay the doctor or medical centre directly. Unlike the UK, there is no administrative paperwork associated with insurance claims or approval of care for private patients in these countries.
 
The cost of medication and treatment, including dentistry, is typically about half the price of the UK and “medical tourism” is a growing trend with patients travelling from the UK and Western Europe in increasing numbers for dentistry, fertility treatment, cosmetic surgery and other surgical and medical treatments.
 
There are large private hospitals with excellent facilities in the following resorts/towns: Istanbul, Izmir, Kusadasi, Bodrum, Marmaris, Mugla, Fethiye, Antalya and Alanya. Other resorts will have state hospitals, private clinics and doctors, which provide emergency care, and treatment for minor injuries and routine ailments.
 
Chemists, eczane in Turkish, are also trained to treat the most common ailments and dispense medicine, many of which are available over the counter without a prescription. 
 
Despite the low cost of high-quality private medical care in Turkey visitors and longer-term residents are advised to take out medical insurance. Health cover will usually form part of a travel insurance package. If you travel regularly then it is more cost effective to get an annual policy.
 
For permanent or long-term residents medical insurance can be arranged through an international insurer or broker specialising in expatriate policies, or through a Turkish insurance company.
 
International policies typically offer 3 levels of cover, which will include in-patient/day care and emergency repatriation to the UK, along with out-patient care, specialist treatment, dentistry and maternity care, depending on the level of cover.
 
Annual premiums for a 40 year-old couple will typically range from £1,320-£4,560 depending on the level of cover and the insurer.
 
Medical cover through a Turkish insurance company is cheaper and will typically cover all hospital treatment and a limited number of doctor’s consultations each year. Out patient care and medication can also be included for a higher premium. Emergency repatriation to the UK will be extra.
 
Annual premiums for a 40 year-old and a 60 year-old couple start from £750 and £1,000 respectively. Premiums can generally be paid in 5 or 6 monthly instalments.
 
A quote from a leading Turkish insurer such as Anadolu Sigorta or Yapi Kredi can be organised while you are in Turkey by Buying in Turkey, www.buyingin.co.uk
 
It is important to remember that under current regulations British citizens living outside Britain for more than 3 months are no longer eligible for free NHS treatment. For this reason many people relocating to Turkey keep a base in the UK which they use for part of the year; or simply retain a postal address at a friend or relative’s address.
 
For more information on healthcare in Turkey or Turkish property in general contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk
 
A free PDF version of the Buying in Turkey guide can be downloaded at www.buyingin.co.uk
 
Useful Contacts
 
Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk
Medibroker, Tel: 0191 297 2411, www.medibroker.com
BUPA International, Tel: 01273 208181, www.bupa-intl.com

New budget flights make Dalaman even more appealing…

by Charlotte Ashton Turkey

 

Budget airline Flyglobespan has announced that May 2009 will see them launch weekly flights from Aberdeen to the popular resort of Dalaman, situated on the south-west coast of Turkey – a move that will prove very popular with both holidaymakers and property investors alike.
 
The airline will operate flights from the Scottish city once a week from April to October with prices starting from £99 one way (including taxes). Rick Green, CEO of Flyglobespan comments on the move, "We are delighted to be offering this new flight to the Turkish destination of Dalaman. Turkey, with its rich culture, great beach resorts and reputation as a value-for-money destination, is bound to be a winner. Our customers told us this is what they wanted and so we are delighted to be able to offer it."
 
One of the hotspots for British holidaymakers, according to the Association of British Travel Agents, the number of holiday bookings for Turkey has increased by 20% in 2008 when compared to the previous year. Figures from the Turkish Tourist Office show Turkey overtaking Spain as the most popular holiday destination for British holidaymakers this summer. The increase of cheaper flights from regional airports such as Aberdeen is sure to further increase the country’s popularity.
 
Graham and Irene Rennie from Aberdeen are one couple who are likely to benefit from the new budget flights from their local airport. The Rennies purchased a three-bedroom, semi-detached villa in the unspoilt Akkaya valley near Dalaman from a local developer off-plan in 2007. They plan to use the property both as a holiday home and for rental: “My advice to anyone who has funds sitting tied up in the family home is to use it to enhance their lives in the here and now and to buy a lovely retreat like ours” says Irene. “Renting the property out, even if only to family and friends, will keep the costs down and it will be passed on down the generations.”
 
Already quoting “easy flight access” as one of the main reasons why they bought in Dalaman, along with “value for money, a beautiful country, no tourist overcrowding and a good climate”, Graham and Irene Rennie are not only likely to find visiting the villa themselves easier and cheaper, the rental potential is likely to increase with the introduction of the new flights from Scotland. Dominic Whiting, editor of the Buying in Turkey guide, agrees, “Increased accessibility to Dalaman with new flight routes is excellent news as it makes a stunning area even more appealing to UK residents and will in turn mean that those buying property in the area see an even greater return on their investment.”
 
For more information about property in Dalaman contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk.
 
 

Thailand investors to receive taxation boost

by Charlotte Ashton Thailand

HM Revenue & Customs (HMRC) announces a new Double Taxation Treaty (DTT) with Thailand to commence on March 31st 2009. Thailand along with The Netherlands, Libya and Ethiopia will become the latest countries to sign up to British bilateral taxation conventions, with the British Taxation Department in talks with several other countries for 2010.

DTT’s aim is to eliminate the need for British investors to incur the double taxation of income and capital gains arising in one country and paid to residents of another.
The new taxation treaty will help provide investors with a certain element of certainty and a good deal more stability in their tax affairs.
The news is particularly good for international second home property developers and their clients, as once these new agreements are in place investors will be able to sell their property in one country and repatriate the profits to their home nation, whilst not having to pay any more that the maximum amount of capital gains tax in any one of the countries. 
With investment in Thailand more popular than ever this should come as great news for those looking to purchase one of the spectacular properties being constructed in and around the beautiful island of Phuket.
Emerging market specialist, Experience International, is marketing the Oxygen Bay resort in Bangtao, Phuket which is due to begin construction in November 2008 and completion in January 2010. 
The 3 and 4 bedroom duplex apartments created by award winning developers utilising the best of a unique mix of western technologies and contemporary Asian design and boasting a prime beach front location Oxygen Bay are sure to be a big hit with investors. Situated only 25 minutes from Phuket Airport these properties stand in a fantastic location for holiday makers.
With Thailand’s popularity with British travellers and investors, it seems safe to assume that the recent Double Taxation Treaty news from HMRC will only serve to further boost British interest in the area. 
For more information visit www.experience-international.com or call 0800 612 0901. Prices for properties at the Oxygen Bay resort start at £178,500 / THB 11,887,771.

21st Century B&B – Buy and Build…

by Charlotte Ashton Turkey

Whether it is because you want to stand out from the crowd, want a custom-made solution for your specific needs, or that you want to get ahead of the game when it comes to investment, designing your own property could be the answer you are looking for. Designing a property to your own specifications can be achieved in a number of ways: from using a ready-made build plan and making your own adjustments; or working with an architect to design a property from scratch to suit your exact requirements. Gerry and Kathryn Stewart from Leeds took the third option to build their very own dream retreat in Akkaya, an unspoilt valley in the Turkish mountains near Dalaman.

Like many looking to buy a property abroad, the Stewart’s didn’t realise that building their own property would be a financially viable option, “we had no idea that building our own home would be a possibility, but apparently it was within our budget,” explains Gerry. The couple discovered that construction costs are usually provided per square metre for a given location, but vary widely from resort to resort. As a general guide the cost of a 3 or 4 bedroom villa in Turkey where the Stewarts bought, on a 500m2 plot varies from £100,000 to £200,000 plus. The price of the chosen plot of land, the size and style of the villa and pool, garden landscaping and fittings and fixtures determine the final cost.
Gerry and Kathryn decided upon a 1,230 m2 plot with fantastic views of the mountains and the nearby Akkaya lake, and local planning regulations allowed them to build two storeys on 185 m² of the land, with terraces and a swimming pool not included. This build-figure is dictated by local planning regulations which determine how large a house you can build on a given plot of land, with limits on the area of the building’s base, or ‘footprint’, and the number of floors. Building companies are well versed on local planning rules and a creative architect can often gain extra space if needed by adding a bedroom in the roof space or putting a bedroom, or even a self-contained flat, below the house or swimming pool if the land is sloping.
Through working closely with the local architect and trawling the internet and interior design magazines for ideas and inspiration, Gerry and Kathryn compiled a list of features they wanted for their house. These included a second living area on the first floor level that could enjoy a completely unobstructed view of the surrounding stunning scenery, a galleried hall with spiralled staircase to create a dramatic entrance, and open fires to ensure the living spaces were cosy in wintertime. An interesting process, the couple learnt that some of their ideas weren’t practical options given the space and budget available – “we were doing a lot of fantasising!” laughs Kathryn – but they also learnt a great deal from their architect who made alternative suggestions that worked well, such as adding a round feature window above the front door and pillars to the living room.
The couple found, like many who design their own home, that dreams need to fit with the practicalities for the property to work off-paper but that when the plans are finalised it is hugely rewarding to see your vision grow to become a reality: “It was really exciting to see the building take shape and to know that it was going to be your home” says Kathryn who had a monthly report sent through to keep them up-to-date with progress, “On the first day of every month we received a progress report and pictures from the builder,” says Kathryn. “We agreed to only open them together, so we’d both rush home!” Keeping well informed of how the building work is taking shape helps to ease the build process for overseas buyers and in the Stewart’s case helped to take a weight off of their minds.
 
Turkey has an excellent selection of high-quality fixtures and fittings– many made locally and available at much lower prices than in the UK. Being involved in the design process means that British buyers can choose a contemporary design or bring traditional Turkish or Mediterranean features into their property – with architectural features that include an internal courtyard, bay windows and covered balconies and the use of wood and natural stone. The Stewarts were pleasantly surprised by the choice of tiles, fittings and appliances available in Turkey but found it difficult to make a decision “It was really hard work because of the huge selection!” explains Gerry, but “the design team also made some great suggestions, such as incorporating mosaic panels into the tiled floors and adding a false ceiling and spot lights in the living rooms.”
When the process had reached completion and the house was finished, Kathryn and Gerry took a trip to Turkey to see their finished home for the first time – and both were over the moon: “It was very emotional and I burst into tears when I saw it for the first time” says Kathryn, and Gerry’s reaction was no less delighted: “I was so excited that I could hardly sleep that first night and I was up at 4am clambering around the mountainside with a video camera!” he laughs.
The Stewarts are prime examples of the great sense of achievement felt when a self-designed project is completed and Dominic Whiting, editor of the Buying in Turkey Guide agrees, “Building your own property means that you can adapt the property to suit you, rather than having to adapt your family and needs to suit the property. In this way, you can have the house you want in the location you want, with little or no compromises. With property values rising rapidly in Turkey, building your own property makes excellent financial sense also, allowing you to secure tomorrow’s property at today’s price.”
According to Dominic Whiting, the cost of building can also be spread with a number of stage payments made throughout the build process, helping your finances and giving you security and piece-of-mind. Generally speaking, 90-95% of the building costs will be paid during construction, which typically lasts 12-18 months, with the remaining instalment payable when the keys are handed over on completion and you receive the property title deeds.
Buying in Turkey offer a bespoke villa service that allows you to build your dream home in an excellent location on the Turkish coast. Choose a plot of land in Kusadasi, Altinkum, Bodrum, Dalaman, Akkaya, Sarigerme, Fethiye, Kalkan or Kas and either choose a build plan to adapt or work with an experienced architect to design your property. For example, an individually-designed 4 bedroom villa with 350m2 garden and private pool within walking distance of the beach in the resort of Altinkum can be bought and built for around £109,000/ €136,570. While a 4-bedroom villa on a spacious 500m2 plot with pool in the stunning area of Akkaya, where Gerry and Kathryn built their house, would cost around £175,000 / €221,220. At the other end of the spectrum, a stunning 5 bedroom stone villa with uninterrupted sea views on the highly desirable Cukurbag peninsular in Kas with large infinity pool and a 750m2 garden can be bought and built from £350,000/ €407,127. For more information about buying land and building a villa in Turkey, or Turkish property generally contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk.
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Editor’s Notes
Self-build Property Highlights
 
Sea view heaven – Sarigerme
A large 3-bedroom villa with private pool and garage that enjoys stunning views of Sarigerme beach and the new golf course, set on a 470m2 terraced plot. Approximate land and build cost: £145,000
 
Rural bliss – Akkaya, Dalaman
A spacious 4-bedroom villa in a stunning rural location overlooking Akkaya lake with private swimming pool set in a 500m2 garden. Use of nearby communal facilities including tennis court, fitness centre and restaurant. Approximate land and build cost: £185,000
For more information contact Buying in Turkey, Tel 0845 351 3551, www.buyingin.co.uk.
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The Furnishing Touch to Your Overseas Purchase

by Charlotte Ashton Cyprus

 

At a time when buying a property abroad – be it as a holiday escape or an investment purchase – is becoming more and more appealing given the UK’s current housing crisis, it remains important to consider the purchase as a whole before committing. This means factoring in the other added expenses that it is easy to overlook when falling for your dream property, especially when the price is extremely appealing when coming from a UK market.
 
When buying abroad you need to make sure that your entire budget isn’t blown on the property itself but that sufficient amounts are put aside for legal fees and taxes for example. In this case, it is important to be led by both your head and your heart. If the property is to be used as a holiday home, the price of flights need to be looked into, for example, to make sure that you can afford the property that you are set on. The expense of furnishing the property is another factor that it is also easy to overlook, an often difficult task in a foreign country where it is hard to know where to buy and which are respectable retailers.
 
This particular problem, however, is one that Aristo Developers – specialists in properties in Cyprus and Greece – can take off your mind. They are offering customers who reserve a property between 1st August and 30th September 2008 a free €6,000 voucher to spend on furnishing their property in selected retailers. Not only does this mean that you will have more money to play with when it comes to the property and covering legal expenses, you also have the ease of knowing that respected retailers have been chosen for you. This combined with the fact that properties will also come with free air conditioning means that your budget really will stretch further.
 
Terms and conditions apply and for further information please contact Aristo Developers on 0800 082 0601 or visit www.aristodevelopers.com.
 
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Editors Notes
 
Cyprus Market Comment
 
Martin Pearce, UK Sales Director for Aristo Developers, comments,
 
Cyprus seems to be one of the most stable destinations for real estate investments in Europe. Cyprus scored highly in the last few years in new property developments political and economical climate, and especially highly in internet hits and media coverage. Popular for its year round sun the island achieved a strong 2007 capital value growth. (Around 15%).
 
Strong infrastructure empowers the destination further:
 
Plans for the extension of the two international airports Laranca and Paphos were implemented and works are expected to be completed by the end of 2008. This will change the dimensions with regards to the capacities of these two airports, (The capacities will almost double) which creates new opportunities. New carriers from all over Europe showed serious interest of operating to the destination and some of those started already flying to Cyprus.
 
The new and modern road network creates new opportunities within the island of Cyprus making distances considerably shorter and comfortable.
 
Moreover the local town planning authorities gave their final approval for a new modern marina in Limassol (works already started), and a further licence for luxurious state of the art marina is given for the region of Paphos (tenders were submitted to the government and expecting final decision by the end of this year the latest)
 
Further championship designer golf courses shall establish the island as emerging golf destination and attract additional investor’s to the destination offering at the same time a very good alternative to the already established golf destination i.e. Portugal and Spain.
 
After the introduction of Cyprus in the Euro zone the interest rates became lower making borrowing cheaper.
 
All above facts compose the stability for investments in Cyprus securing at the same time capital value growth for the years to follow.
 
For more information please contact Aristo Developers on 0800 082 0601 or visit www.aristodevelopers.com.
 
 
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Boost for Bulgaria

by Charlotte Ashton World

 

Results from a recent Saga Travel Money survey have unveiled Bulgaria’s popularity with the UK retirement community, these findings were released in the same month that the Bulgaria Register showed an 18% increase in foreign visitors from around the world travelling to Bulgaria.
 
Lisa Harris, spokesperson for Saga Travel Money says: “There is some evidence to show that less likely destinations such as Bulgaria are becoming increasingly popular with retirees who wish to spend their post-working life overseas. There are a number of factors that attribute to this increased popularity, such as its relatively low house prices which are seeing a steady increase due to the country’s recent connection into the EU. In fact the recent connection has caused even more interest it seems.”
 
Greg Marshal from Solihul, has bought a property in the Sunny Beach area of Bulgaria, he is very happy with his property and in a recent interview said: “I wanted to purchase in an area that was emerging and was relatively new as a tourist area. Traditional areas such as Spain or Portugal didn’t really interest me as I felt the market there was at its peak and the purchase prices of property reflected this. Making a return from my purchase was also a smaller part of my reason to buy and I rent the apartment out myself through my own website so I am making a return on my investment as well.”
 
According to the AIPP (Association of International Property Professionals) there are many more people like Greg out there still keen to purchase in Bulgaria; results from 2007 show that Bulgaria is still top of the list for Brits buying property abroad with a 6% increase since the previous year. Steve Worboys, Director of Experience International a specialist property agency for Bulgaria comments, “The Sofia News Agency has reported an increase in property investment for the beginning of 2008, we are certainly receiving a lot of interest still for Bulgaria from holiday home buyers as well as investors. As Bulgaria prepares for its winter season we are expectant that buyers will again be looking for ski properties in the mountains alongside people like Greg Marshal who chose Sunny Beach for a milder and more affordable winter option than the UK.”
 
For more information on buying in Bulgaria call Experience International on 0800 6120901 or visit www.experience-international.com.
 
 
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Properties for sale:
 
      Borovets Gardens, Borovets
A luxury, gated resort set in a stunning pine-clad mountain location, Borovets Gardens in         Borovets, Bulgaria offers excellent facilities including a fitness club, sauna, restaurant and bar and studios from €49,970/ £39,136, one bedroom apartments from €88,977/ £69,686 and two bedroom apartments from €127,540/ £99,881. For more information please contact Experience International free on 0800 612 0901 or visit www.experience-international.com.
 
Costa Bulgara, Sozopol, Bulgaria
Luxurious 1 and 2 bedroom apartments with stunning views of the Kings bay on the black coast. Prices start from £24,422 / €35,386 for more information please contact Experience International free on 0800 612 0901 or visit www.experience-international.com.

Tune in to Tunisia

by Charlotte Ashton Tunisia

 

Rapidly emerging as one of the most serious locations to consider for property investment purposes in the Mediterranean region, Tunisia is something of a new kid on the block; but it’s relatively fresh property market is built on incredibly strong base fundamentals making it worthy of much closer inspection. 
 
If you’re now wondering why you’ve not heard of Tunisia before as a location for holiday-home-type investment purchases, part of the reason is that the nation has recently just finalised legislation allowing for the transparent freehold ownership of real estate by foreign citizens; however, that’s just part of the picture.  In the past Tunisia has preferred to focus its internal efforts on reforms to introduce political pluralism and therefore stability, and to boost and reinforce the economy.  The government was wholly focused on the creation of a robust and stable nation before it sought international investment as it wanted to have the right platform in place to attract sustainable fiscal commitment.  Now it’s benefiting from hindsight and learning from the triumphs and also the trials of similar markets such as Egypt and Morocco, and Tunisia is going forward to create a healthy property-based economic sector.
 
As Tunisia’s economy has been ranked the most competitive in Africa and the Arab World in the Global Competitiveness Report from the World Economic Forum, and the International Monetary Fund predicts impressive GDP growth in Tunisia for the coming years making the nation’s growth predictions one of the highest in the Mediterranean region, serious investors are beginning to turn their collective and focused attentions on Tunisia.
 
With its 1,100 kilometres of sun caressed Mediterranean coastline, its fabulous resorts, incredible history, pristine beaches and very well established tourism industry which is on target for an average annual growth rate of 4.3% over the next decade according to the World Travel and Tourism Council, Tunisia has everything in place to build a healthy property market based largely on tourism. The nation is already highly accessible from across the whole of Europe; for example there are daily scheduled flights from the UK that take less than 2 ½ hours to reach Tunisia.  It’s also a country not solely reliant on British tourism demand – therefore there is demographic diversification in terms of visitor arrivals which lessens an investor’s risk and broadens their base letting potential. Tunisia is currently negotiating an Open Skies Agreement and there’s speculation that cheap flight operators such as Ryanair will follow – should this come to pass this will be yet another massive boost for both tourism and property market potential.
In terms of the potential already in place for an investor, according to Steve Worboys, MD of Experience International: “there’s strong and increasing demand for straightforward summer holiday accommodation in the most popular resorts such as exclusive Port El Kantaoui on Tunisia’s Gold Coast, and this is attracting investor commitment, but what’s more, the government is now actively working on the development of alternative types of tourism in Tunisia which further opens up investment potential.”  For example, Tunisia is the second most popular nation in the Mediterranean after France for thalassotherapy and the nation’s government wants to begin the further development and promotion of such alternative and high-end forms of tourism to draw greater numbers of wealthier visitor.  This will have a double impact for an investor, it will give them a greater base of demand to promote their property to and it will potentially allow for rental yield growth as wealthy demand will increase pressure on property availability, thus inflating underlying rental rates.
 

Golf tourism is another high-end area being actively developed, with five courses coming to completion across the nation’s key resorts in the coming five years.  Investors who want to get in ahead of the curve are being attracted to one of the first, most attractive golf resorts in ever-popular Port El Kantaoui.  The Dunes at El Kantaoui is a beautiful beachside development situated within reach of two main airports that offer direct and inexpensive flights to major European cities.  The apartment development is therefore highly accessible and it is close to all main facilities such as a 36-hole golf course, marina and restaurants.  The resort also features a thallasso spa, indoor swimming pool, Turkish baths, sauna, gym, beauty and massage treatment rooms, a restaurant, snack bar, supermarket and a rental management company.  Properties make an excellent investment or second home choice starting from only £20,000.  

Call Experience International on 0800 612 0901 or visit www.experience-international.com

 
 

“The dust of Africa never leaves the soles of your feet”

by Charlotte Ashton Botswana

The saying goes: “The dust of Africa never leaves the soles of your feet” which must explain the continued growth in tourism on the continent and especially the nation of Botswana.

 
Botswana is one of the most politically and economically stable countries in Africa and it ranks number 36 in the world according to the 2008 Index of Economic Freedom, a report that is compiled by the Heritage Foundation and Wall Street Journal. This figure seems to be reflected in the comments from Botswana’s Minister of Environment, Wildlife and Tourism Honorable Onkokame Kitso Mokaila who recently announced that Travel and Tourism will be made a priority for the country’s economy even more than it has been in past years.
 
Botswana has been one of the fastest growing nations in the world over the past 25 years and with July 2008 being earmarked as the month of national heritage it is easy to see why this nation has a continuous growth in economical and tourist figures. It has a government and a people that believe in the bigger picture; a long term effect on the economy as an independent market and its place in the world market.
 
The travel and tourism demand in Botswana is forecast to average 5% growth per annum over the next 10 years which will comfortably exceed expected worldwide growth of 4.4%. The demand is already being reflected in the nation’s employment figures. In 2006 the Botswana Tourism Board reported that travel and tourism accounted for one in every 10 jobs and in 2008 they expect the figure to improve to 1 in every 9, by 2018 this figure is set to rise to 1 in every 7.5 jobs.
 
Developing other sub-sectors of travel and tourism in Botswana will see an expansion in nature-based and sustainable tourism.  The World Travel and Tourism Council (WTTC) highlights the ongoing land allocation for tourism and conservation and environmental efforts saying: “84% of Botswana is land locked surface area covered by the Kalahari desert, 17% by national parks and game reserves and an additional 22% designated as wildlife management areas. Even if tourism is diversified through the promotion of new products, the majority of visitors will still be primarily attracted to Botswana by its unspoilt environment and abundant wildlife. It is therefore vital that these irreplaceable assets continue to be protected if travel and tourism is to be sustained.”
 
Limpopo-Lipadi is an independent game and wilderness reserve in eastern Botswana which is celebrating its 5th year in development in October 2008 with the completion of 6 lodge sites planned for December 2009. Covering some 32,450 ha with the view to enlarging to 50,000+ ha and 21km of Limpopo river frontage the reserve is considerable. In terms of the time the team have dedicated to making sure this project is routed in the ethics of the country as a whole and its long term visions to implement more of the ecological and sustainable features of running such a large project, it goes without saying that investing is more than parting with some cash.
 
“I personally try to meet each one of our investors before we let them sign on the dotted line but there seems to be a real desire to invest in a lifestyle that can really make a difference both to an economy and personally” says Alan Marneweck, director of Limpopo-Lipadi: “ We want people who are passionate about the bigger picture.  We all have the same views practically speaking but it’s how we see the responsibility as a project and ultimately the impact that it has on the nation. We are continually looking at the best ways of improving our work with the wildlife, community and the maintenance of all the areas of running such a project”
 
The Limpopo-Lipadi project perfectly represents the type of intelligent, improving and enabling eco-responsible tourism investment project that the government of Botswana is encouraging.  At its core the project offers those with a keen interest in the nation, its wildlife and in augmenting the lives of the local people a chance to make a real difference.  There are different levels of investment involvement that you can commit to – from a purely financial point of view, entry level investment is $195,000, but in terms of the difference that you can practically make and the benefits that you can personally witness and enjoy, they are limitless.
 
For more information contact 00 27 12 349 2437 or visit www.limpopo-lipadi.com.
 

Rapidly increasing domestic demand for rental property boosts Spain’s buy to let market

by Charlotte Ashton Spain

 

It’s become something of a well-known fact that the traditional ‘fly to let’ rental market in Spain is suffering from over saturation.  Coastal resorts are certainly as popular as ever with Spain remaining one of the top holiday hotspots with British and European tourists, but when a situation of over supply hits the holiday property market it certainly makes it harder for investors to make money from properties that they wish to earn a rental income from. 
 
However, the good news is that there are some lesser explored, more profitable pockets of the buy to let investment property market in Spain that previously were the well kept secrets of professional and institutional investors only.  Now that real estate prices on average have adjusted and fallen across most of the Spanish market, it makes it a very positive time to explore these alternative buy to let approaches in Spain.
 
According to Mike Hamilton, Sales Director at Casas de Lorca and an expert on the Spanish investment property market: “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 not abating.  In fact, the city based buy to let property market in Spain has suffered nothing of the negativities of over supply, with many urban areas actually suffering from a restriction of supply leading to increased demand. In the capital Madrid for example we are hearing reports that 62% of apartments which become available are being rented within the first month alone.”
 
“The low supply of good quality rental property is also affecting rental prices. For example, average monthly rents in Lorca have gone up from 400 euro a month to 550 euro over the period of the last 3 months, and as the date for the opening of the new University of Lorca approaches, so demand is expected to further intensify.  Therefore, property investors looking for a market where there is strong demand for property, more attractive underlying real estate prices and strong potential for consistent year round rental income should be focusing their search on Spain’s most in demand cities. Each day we are turning down clients looking for rental apartments. When one becomes available it is rented within the week, sometimes the same day!”
 
Spain’s local population has suffered in much the same way as the British population from rising property prices in recent years.  This has led to a situation where more Spanish than ever are seeking rental accommodation because they cannot get onto the housing ladder. The Spanish Prime Minister has pledged significant financial help, not just to first time buyers, but more interestingly for buy to let investors too.  Direct monthly financial contributions of 200 euros a month are being offered by the Spanish government to people under 30 years old to help with rental payments; proposals have also been made to help tenants raise deposits; and for landlords who agree to rent properties to under 35s to help them get into private accommodation, attractive taxation incentives have been proposed.”
 
In Lorca in the Autonomous Community of Murcia where a new university campus is about to reach completion, demand for city based rental accommodation has already pushed average rental rates up significantly.  The new university is the fourth campus for the already expansive University of Murcia with its 31,500 students, and when it opens in 2009 demand from professors, lecturers, administration staff and of course students is expected to have an overall positive and dramatic effect on the local housing market.
 
Property investors quite possibly have a once in a lifetime opportunity to buy property off plan at below market prices as developers work hard to sell off stock, or to buy resale units in what is very much a buyer’s market, and earn rental income year round from the domestic market who are being aided and therefore encouraged to rent.  What’s more, in an area like Lorca where there is a specific and undeniable reason for demand to surge, a buyer making a purchase today has an unprecedented opportunity to profit significantly from rising rental rates, and from potentially appreciating assets whose values will likely be increased as the property market in the city becomes more in demand.
 
Casas de Lorca have 1, 2 and 3 bedroom apartments for sale in Lorca from just 78,000 euro, they are located just 3 minutes from the university and come with guaranteed rental income for the first 3 years making them an exceptionally interesting long-term investment opportunity.  Interested parties are invited to contact Casas de Lorca for more information on 0844 734 8057 or visit www.casasdelorca.net.
 
 

Goodbye tension, hello pension!

by Charlotte Ashton Cyprus

 

Follow in the footsteps of the Gouldings as they relocate to Cyprus
 
Britain has just come in penultimate place in the uSwitch.com European quality of life survey, and every day as one opens a newspaper or switches on the news one is bombarded with negativity about the state of the British economy which is part of the reason behind the Institute for Public Policy Research estimating that by 2050, 3.3 million British retirees will be living abroad.  
 
Their estimates are backed up by further research from The NatWest International Personal Banking Quality of Life Report that earlier this year surveyed expatriates who already live overseas about their experiences.  The report identified the fact that 91% of expats are happier than they were when they lived in the UK, 90% are financially better off, 92% feel they have a better quality of life and an incredible 99% said they have no regrets about emigrating.
 
According to Sarah Woods, editor of the Retirement Property Guide, over 60,000 foreign retirees live in Cyprus, of whom a large percentage are Britons who strongly favour the island because of its enviable climate, its fantastic quality of life and because of the strong British influences that exist in Cyprus which was a British colony until 1960.  The fact that in Cyprus the legal system is based on the English, drivers drive on the left, English is spoken everywhere and one can even get British TV via satellite means that life for retiring Britons in Cyprus could not be easier!  Adding to the benefits of choosing Cyprus is the fact that pension income is taxed at the lowest rate in Cyprus of all other nations in Europe and the cost of living is a literal fraction of what it is in the UK.  All of these reasons and many more are luring increasing numbers of British retirees to the island annually, such as Malcolm and Jean Goulding who moved to the village of Argaka in Cyprus last year.

Summing up their reasons for choosing Cyprus, Jean Goulding comments that: “it is home from home and every day the sun shines, and with such a strong British presence in Cyprus it is very easy to be accepted here.  The people are extremely friendly and the island has a very low crime rate so we always feel safe walking the streets day and night.”  Malcolm and Jean also enjoy the fact that Cyprus has become more accessible in recent years thanks to budget airlines joining those which serve the island’s international airports at Paphos and Larnaca.  “We have 5 children and 6 grandchildren who come and visit and we actually see more of our family now that we live in a beautiful villa in the sun overlooking the Mediterranean than before when we lived in Macclesfield – it’s funny that isn’t it!”
 
As retirees they benefit from the excellent Cypriot national health system, they can comfortably live on their fixed pension income and they have plenty of spare time for all their hobbies such as enjoying the boat that they own a part share in – with Jean also being an active member of the local church group and Malcolm having taken up Greek and keyboard lessons.
 
Martin Pearce, UK Sales Manager of Aristo Developers is an expert when it comes to advising would-be British retirees on making the move to Cyprus, and he has some excellent advice for anyone now actively planning their relocation.  “The most important thing is to get active in the local community as soon as you arrive.  The sooner you make friends and establish helpful acquaintances, the quicker you will find the best restaurants, the best handyman and the shops and market stalls where the locals all shop for less for example.  You will find people who can help you get your residency permit, you will make friends who can introduce you to life on the island, and what’s more you will feel at home much quicker and wonder why you didn’t make the move years ago!  The other top tip I would give is learn the language.  Whilst all Cypriots speak English and are usually more than happy to do so, learning Greek will keep your mind active and show the Cypriots that you really are keen to integrate and make Cyprus home.”
 
Aristo Developers helped Malcolm and Jean Goulding purchase their lovely villa property in Argaka, and of the experience the Gouldings say that they didn’t have any problems with the buying process because everything was done for them.  They used reputable solicitors and Aristo even helped them set up bank accounts and furnish their property.  The Gouldings bought an Argaka Village villa and Aristo have 3 and 4 bedroom villas and bungalows for sale in another stage of this beautiful project which is just steps away from the Mediterranean Sea.  Properties with swimming pools are for sale from €378,900/£300,785 and for more information please contact Aristo Developers on 0800 082 0601 or visit www.aristodevelopers.com.