Top of the Props: Overseas interest strengthens in Cyprus

Top of the Props: Overseas interest strengthens in Cyprus

by Charly Cyprus United States World
  • Cyprus re-enters Top 10 destinations
  • Enquiries for Cypriot property up 50pc in Q1 2017
  • USA number one property market for overseas buyers

Overseas interest in Cyprus strengthened in March, reveals TheMoveChannel.com’s latest Top of the Props index. The country re-entered the top 10 most popular countries on the portal for the third time in six months, becoming the sixth most sought-after destination.

Foreign buyers returned to the island’s property market at the end of 2016, with enquiries rising 22 per cent in the second half of the year. After 2016’s strong finish, enquiries faltered at the start of 2017, but buyers are now showing signs of returning in greater numbers. In real terms, enquiries for Cypriot property rose by more than 50 per cent in Q1 2017 compared to Q4 2016. The country accounted for 3.03 per cent of enquiries, its highest share in two years.

Interest also increased in Croatia, which climbed the Top of the Props charts to become the seventh most popular country on TheMoveChannel.com. This is the country’s first time inside the Top 15 since October 2016.

Demand dipped for property in Spain, although the country held on to second place, behind returning number one destination the USA. US real estate accounted for 7.89 per cent of all enquiries, ahead of Spain’s 6.01 per cent. France and Italy also saw their share of enquiries decrease slightly, slipping to eighth and ninth place in the Top of the Props table respectively. Portugal held on to its fourth spot, with 3.96 per cent of enquiries.

The coveted third place was stolen by Indonesia, which accounted for 5.98 per cent of activity. Indonesian interest was driven primarily by a resort on Gili Air, as the development tapped into rising demand for real estate from international investors. The more traditional safe haven of Germany, meanwhile, maintained its position in 10th place.

“The USA and Spain have been battling to be top dog on TheMoveChannel.com for a long time,” commented TheMoveChannel.com Director Dan Johnson. “With prices climbing and sentiment in the USA’s economy staying positive, America remains an attractive market for international buyers. Spain’s appeal is still strong, although with the UK triggering Article 50 in March, British buyers may have postponed any enquiries last month to wait and see how negotiations with the EU begin. With the country making up the three most-searched locations on TheMoveChannel.com in Q1 2017, however, international interest from a diverse range of nationalities evidently remains high.

“Foreign demand for Cypriot real estate is showing signs of strengthening again in 2017. Interest climbed in the final months of 2016, possibly fuelled by buyers racing to beat the deadline for a Capital Gains Tax incentive at the end of the year. Interest softened at the start of 2017, but enquiries have grown once more in March, without the impetus of the tax deadline. With prices bottoming out and climbing across almost all regions, according to multiple indices, conditions in the island’s market are certainly improving, which is beginning to bring back investors. The island’s Golden Visa scheme is also helping to drive recovering demand, with buyers on TheMoveChannel.com particularly interested in citizenship investment opportunities.”

Click here to see the full top 40 property destinations for March 2017.

 

— ENDS –

Notes to Editors

About Lead Galaxy and TheMoveChannel.com

Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 1.4 million listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.

The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.

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10 years on, the overseas property market resets itself

10 years on, the overseas property market resets itself

by Charly Cyprus Portugal Spain United States World ,
  • Portuguese property prices due to rise 5% p.a. for next 5 years (RICS/Ci)
  • Florida property values up 8.2% over past year (Zillow)
  • Portugal, Spain and Florida are hot picks for 2016 (Ideal Homes International)

Over the past decade, the landscape of the overseas property market has changed vastly. Property entrepreneur and Founding Director of Ideal Homes Portugal and Ideal Homes International Chris White has been selling property through the good times and the bad. After a turbulent 10 years, he believes the overseas property market has finally reset itself – and that now is the time to look to the future.

In Portugal, where Chris White is based, the market crashed spectacularly following the events of 2006/07, along with residential real estate markets around the world. Lesser estate agents would have crumbled (many did) but Ideal Homes Portugal stuck with the market through the hard times and came out the other side even stronger. Today, the flourishing agency employs 35 staff, selling properties across the Algarve as well as in the capital Lisbon.

Chris comments,

“There were some tough years in the middle of the past decade, but it’s wonderful to see the Portuguese property market back on an even keel again now. Prices look set to rise at a comfortable rate over the next few years. I’d say capital growth of 3-5% per year should be achievable for those who invest in the market during 2016.”

Data from the RICS/Ci Portuguese Housing Market Survey concurs. The August 2015 report suggested that prices would increase by roughly 5% per annum over the next five years. At present, a lovely two bedroom townhouse with private pool in Quinta do Lago can be picked up for €375,000.

Spain, as well as Portugal, has seen its property market reset itself over the past decade, although prices in Spain have been slower to recover. For buyers in 2016, this presents an excellent opportunity, according to Ideal Homes International’s Chris,

“Prices are rising in Spain, but many areas are still priced below their peak. There aren’t as many opportunities there as there were a year or two ago, but Spain is certainly still a good bet if you’re looking for a real estate market that has the potential to keep expanding over the next few years. The Costa Blanca would be my particular tip for those looking for a second home in the sun that can double as a savvy investment.”

At Orihuela, two bedroom/two bathroom off plan apartments are available from €129,900. Due for completion in December 2016, the apartments will each feature two large terraces, as well as community gardens, sea views and two large swimming pools (one heated).

Florida is another area that’s now back in the game, according to Ideal Homes International. A modern, four bedroom townhouse in Kissimmee, ideally located for access to Walt Disney World, costs just $285,000 (€252,000). Part of an exclusive gated community, the home includes a private pool area, screened in patio and comes fully furnished.

Prices in Florida have risen by 8.2% over the past year, according to Zillow, while data from the National Association of Realtors in June 2015 showed the US market passing its 2006 peak to reach record highs.

Back in Europe, the other country that Chris White of Ideal Homes International has flagged up for attention is Cyprus. Chris comments,

“Cyprus is an interesting prospect as a place to buy a holiday home in 2016. The market there has been incredibly quiet there this year and we don’t expect huge increases in prices over the next 12-24 months. However, what Cyprus does have to offer is fantastic value for money. If you’re looking for somewhere with great weather where your money can go a lot further, then Aphrodite’s isle is an excellent choice.”

As an example, a two bedroom villa in Konia, on a small complex of just six homes with a shared pool, can be picked up for €149,000.

For further details call Ideal Homes Portugal on 0800 133 7644 or +351 289 513 434, email enquiries@idealhomesportugal.com or visit www.idealhomesportugal.com.

Join the Millionaires’ Club: The best 7 figure homes around the world

Join the Millionaires’ Club: The best 7 figure homes around the world

by Charly Cyprus Portugal Spain Turkey United Kingdom , , , ,
  • Enjoy easy access to London from your Grade I listed home in Surrey (Barton Wyatt)
  • Buy a villa in Turkey so high-tech you can manage it from your phone (Universal21)
  • Relax in style in the Costa Blanca’s most sought-after postcode (Kyero.com)

Being able to spend a million pounds on a property opens up a huge choice of homes available. Knowing whether to opt for a plush pad perfect for accessing in London or a sprawling beachfront villa overseas can be a tough choice.

Within easy reach of London, the delightful community of Virginia Water offers an exceptional standard of apartment living for just under £1,000,000. The Grange at Virginia Park is a prestigious, gated development consisting of a handful of beautifully finished apartments set in a magnificent Gothic Grade I listed building, from renowned local estate agent Barton Wyatt. £935,000 will buy a two/three bedroom, two bathroom apartment with secure underground parking for three cars, 24 hour manned security and extensive leisure facilities including an indoor swimming pool with Jacuzzi and sauna, a well equipped gym and a tennis court.

For those who prefer to spend their million pounds overseas, Spain, Portugal and Cyprus all offer a host of fabulous properties. In Spain, €1,350,000 (which equates to around £1,000,000 at the current exchange rate) is sufficient to purchase a four bedroom, three bathroom villa with private swimming pool in one of the northern Costa Blanca’s most sought-after locations.

Martin Dell, Director of Spanish property portal Kyero.com, which covers sales, long-term rentals and holiday lets, comments,

“A million pounds is enough to secure some really beautiful Spanish properties right now. With prices in Spain still below their former peak, it’s a great time to buy, before prices rise substantially again, so you can pick up a fabulous second home that’s also a good investment for the future.”

Prices in neighbouring Portugal are also still below their previous peak, with the market having bottomed out in 2014. Buying through Ideal Homes Portugal, a four bedroom, six bathroom villa in Varandas do Lago, complete with private swimming pool, outside terrace and BBQ area within a 1,030 sqm plot, is available for €1,425,000.

Meanwhile in Cyprus, available through Ideal Homes International, the captivating resort of Minthis Hills near the city of Paphos includes a fabulous three bedroom, three bathroom villa for €1,350,000. Architects Woods Bagot have opted for convenience, comfort and luxury in the design of these stunning homes, which boast panoramic mountain and coastal views, an on-site clubhouse with restaurant, a spa and health club, housekeeping and a round-the-clock concierge.

For buyers wishing to head further afield with their million pounds, Turkey offers an excellent choice of second home location. The stunning Oceanic Bay View villas from specialist local property company Universal21 are available for TRY4,825,274 (£1,064,865). The luxury residences offer smart house systems, whereby devices in the villa can be controlled via computer or smartphone. Rainwater harvesting, solar panels and a wind turbine ensure that these homes offer the latest in green credentials, while the same care has been given to social facilities on the development. A clubhouse with indoor and outdoor swimming pools, fitness club, spa centre, restaurant, sauna, Turkish bath and steam bath provide the ultimate in rest and relaxation amenities.

Whether it’s a plush apartment in Surrey, an ultra high tech villa in Turkey or an opulent country home in Portugal, it’s clear that £1,000,000 opens up a vast array of property options to the modern buyer.

For more information please contact:

Barton Wyatt: 01344 843 000 or visit www.bartonwyatt.co.uk

Kyero.com: www.kyero.com

Ideal Homes Portugal: 0800 133 7644, +351 289 513 434 or www.idealhomesportugal.com

Ideal Homes International: 02477 050 898 or www.idealhomesinternational.co.uk

Universal21: 0203 287 8700 or www.universal21.com

Portugal v Cyprus – which makes the best second home location?

Portugal v Cyprus – which makes the best second home location?

by Charly Cyprus Portugal World
  • Portugal’s Algarve is Europe’s cheapest beach resort (Post Office)
  • Cyprus offers summer average of 26°C (Holiday Weather)
  • Properties in both locations offer excellent value for British buyers (Ideal Homes International)

With more than 300 days of sunshine per year, stunning beaches and a wealth of good value luxury property, Portugal and Cyprus have a great deal in common. So which makes for the better second home location?

According to the Post Office Worldwide Holiday Costs Barometer 2015, Portugal’s Algarve is Europe’s cheapest beach resort. In terms of overall holiday cost, Portugal took the number two spot in this year’s survey, while Cyprus was in ninth place. But while cost of living is an important consideration for second home owners, a host of other factors also come into play.

Portugal enjoys extremely easy access from the UK, with a host of budget airlines (including easyJet, Tap, Monarch, Ryanair and Flybe) offering regular, year-round flights of around two and a half to three hours in duration. Budget airlines also fly to Cyprus throughout the year, with a flight time of roughly four and a half hours.

Climate-wise, both Portugal and Cyprus have long, hot summers. According to Holiday Weather, Cyprus’ popular city of Paphos averages 26°C in August and 13°C in January and February. Portugal’s Algarve averages 24°C in July and August, with a low of 12°C in January. So Cyprus just takes the lead when it comes to climate – an important consideration for weather-obsessed Brits.

Portugal has the advantage when it comes to a supply of clean, family-friendly beaches, netting 299 Blue Flags during the last round of awards, compared to just 57 in Cyprus. However, Cyprus may just have the edge when it comes to sea temperatures. Both countries are blessed with powdery sand and remarkably un-crowded coastal spots, even in the height of summer (if you know where to go). Yet Cyprus’ Mediterranean waters enjoy an average sea temperate of 27.8°C in August (Paphos area), while Portugal’s Atlantic temperature averages just 20.8°C – a big difference for those who enjoy splashing around in the waves.

Both Cyprus and Portugal also offer tax incentives to foreigners who may be considering buying property or moving there, which are an important consideration for those looking at a second home as a potential retirement option. Portugal’s non-habitual residents regime can offer tax-free living for up to ten years for those claiming pensions from overseas, as well as for certain other types of income.

Meanwhile Cypriot President Nicos Anastasiades this summer announced a 50% cut in property transfer fees as part of a raft of measures designed to attract high net worth foreigners to his country’s shores.

Both countries also offer a citizenship-by-investment (golden visa) programme, allowing wealthy foreigners essentially to buy the right to residency and to travel freely within the Schengen Area. Cypriot citizenship can be obtained for a €300,000 real estate purchase. Portugal requires an investment of €350,000 to €500,000, depending on the location of the property being purchased. Both programmes have been influential in attracting Chinese, Russian and Middle Eastern buyers.

When it comes to properties, both countries have a lot to offer. Chris White, Founding Director of boutique estate agency Ideal Homes International, which sells homes in both countries, comments,

“Second homes in Cyprus and Portugal represent incredibly good value compared to house prices in the UK. The exchange rate has made a difference in recent years as well. This time in 2010 the pound was worth €1.16. Now, it’s up to €1.35. That makes a big difference when it comes to what you can get for your money property-wise.”

By way of comparison, €150,000 is enough for a two bedroom townhouse in a gated condominium with adult and children’s pools in Branqueira in Portugal’s Algarve. Over in Paphos, the same money is sufficient for a modern, two bedroom townhouse with veranda, roof terrace and shared pool. Both are fantastic value for those buying with sterling.

With so much to offer, the two countries are neck and neck when it comes to offering the ideal location for a second home. Really it comes down to personal preference and circumstances. Keen surfers might prefer to opt for the heavy rollers of the western shores of the Algarve. Windsurfers may prefer to head to Cyprus. As Chris White concludes,

“Whether Portugal or Cyprus is your personal favourite, both provide a wonderful, sun-kissed location for a second home and offer great value for money when it comes to buying property there.”

For further details call Ideal Homes Portugal on 0800 133 7644 or +351 289 513 434, email enquiries@idealhomesportugal.com or visit www.idealhomesportugal.com.

Desert island bricks – luxury, seclusion and sea views prove a winning combination

Desert island bricks – luxury, seclusion and sea views prove a winning combination

by Charly Cyprus Spain , ,
  • Private jet flights to islands increase 69% in past 10 years (NetJets)
  • Online island property viewings up 21% in 2014 (Knight Frank)
  • Demand for affordable and luxury properties on a par (Kyero.com)

Island living is on the up. According to the latest Island Report from Knight Frank, luxury, seclusion and sea views are inspiring many buyers to opt for an island second home rather than one on the mainland.

The report challenges the perceptions about island property ownership. It is no longer something enjoyed only by high net worth individuals, though of course they play their part. In fact, data from NetJets has shown a 69% increase in private jet flights to island destinations between 2004 and 2014, with the Balearic Islands of Ibiza and Mallorca each registering an increase of 100%.

But even for those buyers limited to airfares closer to the EasyJet price range, island property ownership is an affordable and exciting prospect. Martin Dell, Founder of Kyero.com, which covers both sales and rentals of Spanish island properties, comments,

“Ibiza is really popular at the moment and presents an interesting case study in terms of property purchases. There’s a really even split between enquiries for luxury properties costing €500k to €1m and those at the more affordable end of the market (€150k to €200k). The figures demonstrate the broadening appeal that island property ownership has – it is increasingly seen as an achievable goal that everyone can aspire to.”

Issue 24 of the quarterly Kyero.com Enquiry Report, covering April to June 2015, shows just how even the split is, with 21% of Ibiza enquiries in the €150k to €200k price range, compared with 20% in the €500k to €1m bracket.

Ibiza was one of the islands highlighted in the Knight Frank Island Report as well, with tourists numbers there reported to have risen 12% in 2014. Prices for luxury residential properties there rose by 5% over the course of last year and Knight Frank’s Ibiza property website viewings shot up by 11% in Q1 2015, compared with the previous quarter.

Mallorca viewings have also risen sharply, with Knight Frank reporting a 31% surge in traffic during Q1 2015. The largest of the Balearics and the setting of ITV’s recent ‘Love Island’ series, Mallorca offers just the right combination of sea, sand and seclusion to tempt holiday home buyers. Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España was drawn in by the island’s charms and has now lived there for more than 25 years. He comments,

“Mallorca’s appeal lies not just in its fabulous scenery and pristine beaches, but also in its connectivity. It has year-round flights to the UK and other European destinations, which make it an ideal spot for a second home. It also benefits from some good international schools and top-range facilities, just as Ibiza does. Of course, the exchange rate right now adds to its attractions as well so far as UK buyers are concerned, with purchasers able to get a lot more for their money.”

For €230,000, for example, buyers can pick up a stunning property at Cala Anguila II. With direct beach access, delightful sea views, a sizeable communal pool and prettily designed gardens, the two and three bedroom apartments provide luxurious island homes for buyers looking to escape to the serenity of Mallorca.

Beyond the Balearics, Cyprus is a popular island location for second homes, particularly with UK-based buyers. The third largest and third most populous of the Mediterranean islands, Cyprus has seen some 28% of its property market made up of overseas buyers, according to the June Land Registry figures. Paphos, on the west coast, is one of the most popular areas, with sales there increasing by 20% in June according to the Land Registry data.

Cyprus offers some incredible properties and it is easy to see why so many overseas buyers seek out this island location for their second home. This four bedroom, three bathroom villa with infinity pool at Alexander Heights, in the Aphrodite Hills, is available for a cool €2,797,501. The careful design has ensured that each villa at the development enjoys its own private landscaped garden, with spectacular views out over the sea, affording a high degree of privacy. As well as the heated pool, the villa benefits from a Jacuzzi and a versatile basement area that can be used as an additional bedroom, games room, TV room or even have a sauna installed.

According to Knight Frank, online viewings of its island-based properties increased by 21% in 2014 and the leap in interest looks set to carry through to 2015, as increasing numbers of second home buyers leave the mainland behind in their search for the ultimate island getaway.

For more information please contact:

Kyero.com: www.kyero.com 

Taylor Wimpey España: +44 08000 121 020 or www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.

Ideal Homes International: +44 1543 325316 or www.idealhomesinternational.co.uk

Med Madness! Perfect properties in Europe’s top tourism hotspot

Med Madness! Perfect properties in Europe’s top tourism hotspot

by Charly Albania Cyprus Italy Spain , , , ,
  • 1 in 3 tourists goes to the Med (UNWTO)
  • 90% of UK consumers travel to Europe more than they did 10 years ago (European Consumer Network)
  • Med tourists set to hit 500 million by 2030 (UNWTO)

The soft sands and warm waters of the Mediterranean are known around the world, accounting for one of every three international tourist arrivals globally, according to the UN World Tourism Organisation (UNWTO).

UNTWO’s research projects that the area will attract more than 500 million visitors annually by 2030, while the European Consumer Network has found that 90% of UK consumers are travelling to Europe more than they did 10 years ago. It makes a holiday home on the Med an attractive investment prospect for those looking to own a second home that can be used for holidays but that also has the potential to generate an income.

The classic Mediterranean destinations are all worthy of consideration when it comes to second home ownership. Italy offers abundant choice, while Spain and Cyprus have large expat communities that make retiring there an easy option for the future. Albania is the rising star of the Med locations, with some excellent properties currently attracting attention.

In Spain, the property market in coastal areas is picking up at a promising pace, as buyers look to take advantage of the bottomed out market before prices rise. Prices on the Mediterranean coast have already risen by 1.5% this year, according to valuation firm Tinsa. Upmarket areas such as Marbella and the surrounding towns are benefitting from the uptick, with new build developments such as Jade Beach, from leading Spanish homebuilder Taylor Wimpey España attracting those looking to own a prestigious property within just 100 meters of the seafront promenade leading to Puerto Banus. Prices start at €450,000.

“Previously owned properties are also selling well along Spain’s lengthy Mediterranean coastline,” confirms Martin Dell, Director of property portal Kyero.com, which offers property sales, holiday rentals and long-term rentals across Spain. “Menorca has some fantastic properties for sale right now, like this four bed, four bath villa with pool for €895,000. It’s the ideal second home for someone looking to own a fabulous holiday property that also has great rental potential.”

Taylor Wimpey España is also keyed in to the potential of the Balearic Islands when it comes to holiday home ownership. Sales and Marketing Director Marc Pritchard comments,

“Mallorca is a great play to buy and has everything from key ready apartments at developments like Cala Magrana III to new build seafront houses like those at Cala Magrana Mar. Mallorca has so much to offer in terms of both land and sea-based activities – it is one of the Med’s most enchanting destinations.”

Over in Italy, the Le Marche region’s coastline has been attracting considerable attention. Le Marche is now the area with the third highest number of Blue Flag beaches in Italy and is becoming increasingly known to international visitors for its clean, safe waters and powder-soft sands. Casa Tre Archi, the latest luxury fractional ownership holiday home from family-run company Appassionata, provides the perfect base for exploring the wonders of the Italian coastline. Fractions are available from £75,000.

Across the Adriatic Sea (an arm of the Mediterranean) from Italy is Albania, which is rapidly becoming one of the Eastern Med’s most exciting holiday home destinations. The five star luxury Lalzit Bay Resort and Spa offers everything from apartments with generous balconies to frontline villas with their own pools, with property reservation available for just €500. As well as the resort’s host of features (landscaped gardens, kids’ club, gymnasium, indoor swimming pool, medical centre, shops, library, restaurants and bars), owners can enjoy 300m of prime beach frontage, exclusively for use by Lalzit Bay Resort and Spa residents.

Cyprus is another popular Mediterranean destination for second home ownership, with a wide range of properties to tempt buyers looking for a blend of tasteful style and prime location, whatever their budget. At the higher end of the market, €868,000 is sufficient to purchase a two bedroom, two bathroom semi-detached villa with pool and stunning sea views at the prestigious Aphrodite Hills resort in Pafos. Chris White of Ideal Homes International comments,

“Cyprus is an incredibly popular location on the Med for second home owners. The climate is excellent and the beaches simply fantastic. With several international influences, the island has developed a unique and enticing cuisine and cities such as Pafos have a rich architectural heritage, along with ‘living history’ archaeological sites like the Tombs of the Kings. From quick holidays to longer-term stays, it is a perfect location for those looking to buy property overseas.”

For more information please contact:

Taylor Wimpey España: +44 08000 121 020 or www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.

Kyero: www.kyero.com

Appassionata: +39 33154 13225 or www.appassionata.com

Lalzit Bay Resort & Spa: +44 845 125 8600 or www.lalzitbay.com

Ideal Homes International: +44 1543 326315 or www.idealhomesinternational.co.uk

Ideal Homes International launches new Cypriot office as Cyprus reports 25% surge in tourist arrivals

Ideal Homes International launches new Cypriot office as Cyprus reports 25% surge in tourist arrivals

by Charly Cyprus
  • New Ideal Homes International Cypriot office presents luxury properties to UK buyers
  • Cyprus tourist arrivals up 25.7% (Cypriot Statistical Service)
  • Citizenship by investment boosts Cypriot economy by €2 billion (Interior Ministry)

The Mediterranean island country of Cyprus, which enjoys some 340 days of sunshine per year, has reported a 25.7% surge in tourist arrivals for the month of March 2015, according to figures from the Republic of Cyprus Statistical Service. Tourism income shot up to €65 million for the month, from €56.5 million for the same month a year earlier.

Cyprus has long been a favourite with British holidaymakers and second home owners thanks to its combination of sunshine, stunning beaches and low cost of living. Now, a new addition to the Ideal Homes International network, local property expert Maria McLaren, is bringing a range of luxury Cypriot homes to UK buyers. Maria has more than a decade’s experience of selling property in southern Cyprus and knows the island inside out.

Ideal Homes International’s founding director, Chris White, comments,

“It is extremely exciting to be able to welcome Maria and her team into the Ideal Homes group. Through this new venture we plan to open up the Cypriot property market to UK buyers who have yet to discover the wonders of Cyprus, both as a second home destination and as an option for permanent residence.”

Permanent residence in Cyprus is certainly a sought after status. An audit services report for 2013, recently announced by Interior Minister Socrates Hasikos, revealed a €2 billion boost to the economy thanks to property sales and investments made through the Cypriot ‘citizenship by investment’ programme.

The programme has resulted in high end villas being snapped up by overseas buyers, but those who haven’t yet bought their dream home in Cyprus need not panic – there are still plenty of luxury properties to choose from. Amorosa Villas in Latzi, for example, offer the exclusivity of one of the island’s most pre-eminent gated estates, with a three bedroom villa available for €1.65 million. Plots sizes are simply huge and the villas are magnificent in their level of sumptuous comfort. Generous living spaces and reception rooms with fireplaces are complemented by saunas, gymnasiums and treatment rooms, along with infinity pools with views that stretch over the verdant countryside, all the way to the sea.

If that’s not large enough, just over €3 million will buy a five bedroom, four bathroom villa located directly on the sand at Latchi, with fine dining restaurants and the marina within easy reach. Considerate design has created a spacious and light-filled interior, while outside the infinity pool has been designed in such a way that it is possible to climb out directly onto the beach. Generously appointed balconies and a lush roof terrace affording stunning sea and mountain views complete this seriously luxurious property.

Over in Polis, another contemporary villa boasts unparalleled sea views from all rooms, along with an open plan living/dining and kitchen area that opens out onto an external BBQ area with expansive deck overlooking the pool and sea. The elevated overflow pool is perfect for bobbing around in while sipping a cocktail and watching the sunset turn the sea and sky from blue to pink to purple over Argaka Bay. For those rare rainy days, the smart house enjoys a home cinema system and glass fronted verandas for watching the rain lash down from the warmth of the cosy interior.

For further details of luxury homes in Cyprus, visit www.idealhomesinternational.co.uk or call Maria and the team on 01543 325316 or 07527 301861.

Hotspots Index: Rome leads European property rebound

Hotspots Index: Rome leads European property rebound

by Kate Cyprus France Greece Italy Portugal Spain
  • Rome most searched-for property location in the world
  • Portugal home to 14 of 50 most searched-for hotspots
  • France, Greece and Cyprus all in top 10

Rome is leading the rebound in demand for European property, reveals new research from TheMoveChannel.com. The portal’s latest interactive Hotspots Index shows that the Italian capital was the most searched-for location in the world in Q1 2015, as overseas buyers flock to the continent.

Rome accounted for 1.48 per cent of location searches in the first three months of the year, climbing one spot in TheMoveChannel.com’s Hotspots Index from Q4 2014. Rome is the first of two Italian hotspots in the Top 10, with Como sliding one place from the previous quarter to seventh place.

Spain soared into the silver spot, with Malaga climbing three places to become the second most searched-for location. While interest surged in the Costa del Sol, demand for the Balearics also boomed, with Mallorca leaping 10 places in the Index to become the third most popular hotspot. Malaga and Mallorca accounted for 1.45 per cent and 1.02 per cent of searches in Q1 2015 respectively.

Portugal followed closely in fourth place, as Albufeira accounted for 0.96 per cent of location searches in the three months to March 2015. With property prices now showing their first signs of rising following the recession, and the Golden Visa scheme encouraging investment from outside of the EU, the Portuguese property market is now the most widely sought-after on TheMoveChannel.com: the country was home to 14 out of the Top 50 hotspots in Q1 2015, up from 11 in Q4 2014.

Spain and Portugal have both enjoyed record levels of enquiries in the past six months, but demand for European property is now spreading across the continent. France made its debut entry in the Hotspots Index Top 10, as the Dordogne received the sixth biggest share of searches (0.81 per cent). Greece also entered the Top 10 for the first time: Corfu jumped 19 places in the chart into eight place.

TheMoveChannel.com Director Dan Johnson comments: “Europe has never been more attractive to overseas buyers than it is now. Mortgage rates are low in France, prices are rising in Portugal, and Spain’s market has bottomed out. With the pound at a seven-year high against the euro, spending power for Brits is exceptionally strong. Greece now accounts for six of the Top 50 hotspots – up from four in Q4 2014. The country’s economic uncertainty could be bad news for the euro, but it is certainly good news for buyers.”

The full top 50 hotspots on TheMoveChannel.com in Q1 2015 is available here.

Notes to Editors

About Lead Galaxy and TheMoveChannel.com

Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.

The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.
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Please contact Ivan Radford on ivan.radford@themovechannel.com or +44 (0)207 952 7221
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Infographic – Cyprus: At a Glance

by Charlotte Ashton Cyprus

Paphos is the most popular place in Cyprus’ property market, according to TheMoveChannel.com’s latest At a Glance infographic.

The region has always been a hotspot for foreign investment and the overseas portal’s infographic, based upon activity in the last 12 months, shows that almost one-third of buyers are not afraid to stick with somewhere familiar: Paphos attracted 32.77 per cent of all Cyprus property enquiries.

Limasol is the second favourite area, accounting for 21.85 per cent of enquiries since May 2011. Larnaca and Famagusta generated equal levels of interest, taking 13.45 per cent and 13.34 per cent respectively. Nicosia follows close behind them, accounting for 11.24 per cent of demand, but it is a long way from Paphos, which received almost triple the number of enquiries.

The least popular district by a significant margin is Kyrenia, in Northern Cyprus, which was responsible for only 7.35 per cent of activity on the portal during the last year. This lack of interest is the result of a lack of sellers as opposed to buyers; the majority of Northern Cyprus property listed on TheMoveChannel.com falls within Famagusta, suggesting that there are not many homeowners in Kyrenia looking to move but also that tourist developments tend to be in other regions.

Indeed, the Top 10 Cyprus locations searched for by buyers all fall outside of Kyrenia. Unsurprisingly, the three largest cities in the country attracted the most attention, with Limassol and Larnaca ahead of the capital Nicosia. Paphos’ most popular place, Peyia, came in fourth, but the region accounts for three of the Top 10 destinations, reinforcing its high profile with buyers.

The infographic also displays the search behaviour of buyers over the last year. Users looking for Cyprus real estate in Google tend to search between May and July, most commonly using the phrase “Cyprus property”. Like the other traditional markets depicted by the At a Glance infographics, the most widely targeted type of property is “houses for sale in Cyprus”. Indeed, between the months of August and October last year, the demand for houses was so strong that it generated as many Google searches as the general phrase “property in Cyprus”.

Editor Ivan Radford comments: “It’s no secret that the official Cyprus property sales figures have decreased as the global financial climate worsens. In times of economic uncertainty, buyers frequently turn to familiar property hotspots for investment opportunities. With Paphos visibly the most popular region on the infographic, Cyprus is no exception. Indeed, the most commonly searched-for destinations in the country are almost all towns and resorts on the coast, which emphasises the importance of tourist demand for both lifestyle buyers and investors.

“The biggest surprise is that while international demand has reportedly decreased, searches in Google for ‘Cyprus property’ have stayed relatively constant. The phrase appeared in 1,300 searches in April 2012 compared to 1,900 in May last year; a sizeable drop of 32 per cent but one that, compared to national statistics, should perhaps be sharper.

“The At a Glance infographic illustrates a lot of things we already know about Cyprus’ property market, but the interesting thing it shows is that while demand for Cypriot real estate has apparently disappeared, buyer interest still seems to be strong.”

Click here for the full infographic.

Notes to Editors

Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

The website address is http://www.themovechannel.com and the office address is 24 Jack’s Place, Corbet Place, Spitalfields, London, E1 6NN.

Contact Dan Johnson on 0207 952 7650 for further information.
 

New multi-million pound developments in Larnaca spell good news for the future of Cyprus’s tourism industry

by Charlotte Ashton Cyprus

The announcement that Larnaca is set to embark on new multi-million pound development plans spells good news for the future of Cyprus’s tourism industry. 15 projects are planned to take place over the next five years including a 900 berth marina, renovation of the Piale Pashia coastal road, a pedestrian walkway between the popular tourist areas of Pyla and Voroklini, international standard 18 hole golf course, sports complex, open air amphitheatre and an environmental centre at the Salt Lake.

The Cypriot Tourism Board (comprising various interested organisations including the Chamber of Commerce and Cyprus Hotels Association) which announced the plans stated,

“Although Larnaca has always offered plenty to both its residents and visitors, this is being further enhanced with a host of changes the town has recently undergone and will undergo. Big investments such as the new international airport and the creation of three town squares – amongst others – have been a welcome addition, but Larnaca has even bigger plans. Thanks to these changes, Larnaca’s future has never looked brighter.”

These exciting new plans combined with rising tourist numbers (Cyprus saw a 43% increase in arrivals in April 2011 compared to the previous year according to the government statistical service) further support the forecast that Aphrodite’s island paradise may well be on the road to recovery.

Alexander Tomlinson, Director of Cyprus property experts, Gem Invest, comments,

“We are delighted to see that tourism levels are on the rise in Cyprus as more people flock to explore the kaleidoscopic blends of Western European and Middle Eastern cultures and to, of course, soak up some of the 340 days of sunshine!

“Undeniably Cyprus has been affected by the global economic downturn however things are turning around with increasing tourism sparking the property market back into life, especially in an around the popular town of Larnaca.”

Located on the southern coast of Cyprus, Larnaca is the third largest city and home to the island’s largest airport with direct flights to the UK. Already an established tourist destination, Larnaca has an established second home market with residents from all over Europe and indeed the world. Nearby Pyla, a quaint and historical village inhabited by both its original Greek and Turkish Cypriots, in particular is receiving interest from property buyers.

Offering a host of beaches, hotels, bars and restaurants and being only 10 minutes from the airport, new golf course at Terssefanou and Larnaca town centre, Pyla presents the ideal second home location. Developments such as the luxurious Aqua Residence are extremely popular with 1 bedroom apartments starting from €172,941 and a rental guarantee of 5.05% for two years.

As Tomlinson explains,

“Our new unique contemporary and stylish development – Aqua Residence – is sure to be extremely popular with increasing numbers of tourists wanting a mixture of tradition and contemporary luxury. Aqua Residence will certainly set new standards in property development and combined with the many appeals of Cyprus itself such as its British based legal, accountancy and banking system, low 5% tax regime for foreign residents, 10% Corporation Tax and promises of increased visitor numbers, potential investors will be wanting to claim a piece of the pie and reap the rewards.”

For more information about buying in Cyprus or indeed Aqua Residence please contact Gem Invest on +44 (0) 203 287 7440 or visit www.geminvest.net.