Overseas

Tuesday, October 28, 2008

The US is the most popular country after Spain for British people buying second homes abroad, and the majority of them buy in Florida. Attractions include the climate, favourable exchange rates and the availability of flights (and bargain fares) from all major UK airports.

As the US economy recently slid into recession and the long-standing property boom came to an end, many developers in Florida have faced tough market conditions in which to promote their projects. One consequence of this has been that intrepid British buyers have been able to get some great discounts on new properties.

Some watchers are predicting that the fall in Florida property is almost at an end, and prices have nearly ‘bottomed out’, so for people buying now it could be the perfect time for an investment.

Popular locations in Florida

This guide gives a flavour of the areas of Florida most popular with British second home purchasers – the central region around Orlando, the east (Atlantic) coast and the resorts on the southwest (Gulf) coast.

Although there are no restrictions on Britons buying a property in Florida or anywhere else in the US, there are limits to how long they can spend in the country each year (see Passports, visas and residency section). Many areas of Florida also impose restrictions on the number of days per year that homeowners are allowed to let their property. Some ban letting altogether, so if you are counting on your property in Florida to pay for itself through rentals in any way, it is vital that you know what the letting situation is as early as possible.

Central Florida

The central part of the state, particularly around Tampa and Orlando, has long been a favourite with British holidaymakers, especially families, as it is there that most of the big attractions are located, including Disney World and Sea World. It is warm all year round, and there is less rain than in coastal areas.

Its popularity, and the resulting healthy rental market, which offers owners the best returns in Florida, makes the area a magnet for both second home purchasers and buy-to-let investors..

The Gulf Coast

Unlike the inland areas around Orlando, the Gulf Coast tends to be wet, particularly in July and August, so the potential for letting properties, is not as good. However, it makes up for these disadvantages with magnificent white beaches, plentiful moorings and fine restaurants – attributes that have made it popular with the super-rich. Consequently, the Gulf Coast is a hugely expensive area.

The Atlantic Coast

Florida’s Atlantic Coast includes some of North America’s most desirable (and expensive) locations, such as Palm Beach, where prices routinely run to millions of dollars.

An apartment in a good area of Miami will start from around $300,000 (about £150,000) – not bad considering how much the city offers: beautiful beaches, blue seas, non-stop nightlife, a varied arts and culture scene, fascinating Art Deco architecture and a consistently warm climate. Many current buyers are taking advantage of the stressful situation of developers involved in Miami condo projects to get some of the best discounts available in international real estate.

Buying a property in Florida: Costs & Process

The Floridian system of property purchase is quite different from the UK’s and has several pitfalls for those unfamiliar with it, so appropriate professional guidance is essential.

In Florida, nearly every property for sale is listed on a central database available to all estate agents (known as realtors in the US), so there is no need to visit individual agents. Agents tend to work as seller’s agents or buyer’s agents.

Costs

To cover legal, title insurer and notary fees, title insurance premiums, transfer taxes, property taxes and mortgage fees (if applicable), you should allow around five per cent of the purchase price.

The purchase process

Once a price is agreed, the purchaser pays a small goodwill deposit before making a formal offer in the form of a purchase contract.

A 10 per cent deposit is then paid into an escrow account. A title insurance company scrutinises the public records and insures the property against any third party claims. Completion, including the transfer of the balance of the purchase price into the escrow account, can then take place. If you fail to observe dates stipulated in the contract, you risk losing your deposit.

Florida Property: Mortgages

Paying cash, if you can afford to, is often recommended, but you may not want to tie up a relatively large sum in this way. If this is an option for you, be sure to consult one of the specialist currency exchange companies in the market, as you can get far better exchange rates and potentially save thousands in the process.

The other options are remortgaging your UK home or arranging a mortgage on your Florida property through a UK or US lender. Remortgaging offers the easiest solution. Releasing equity in a UK home means that the second home can be purchased for cash, without the need for another mortgage. However, this may only be feasible for those who own their first home outright.

Getting a mortgage in Florida

If you decide to obtain finance in the US, bear in mind that most mortgages available to foreign nationals require a minimum 20 per cent down payment. Some even stipulate 30 or 35 per cent.

At the beginning of the process, make sure you obtain what is known as a Good Faith Estimate. This is a standardised document used to detail all the costs of obtaining your mortgage, including both monthly and one-off payments.

If possible, try to secure a self-certified mortgage. Unlike in the UK, this kind of mortgage does not necessarily carry a higher interest rate than a fully documented mortgage, and it could save you a lot of time and trouble spent assembling documents.

Taxation

The US taxation system is a complex one, and may involve payments to at least four different levels of government: local, regional, state and federal. A Double Taxation Treaty between the US and the UK prevents double payment of taxes.

Income tax, a progressive tax ranging from zero to 35 per cent of taxable income, forms the bulk of taxes collected by the US government.

Florida ranks lower than many other US states in terms of the tax burden it imposes. It is one of only nine states that do not levy a personal income tax. More than half of its non-federal revenue is collected at local level, mostly through property taxes, which, for homeowners, amount to approximately 1.5 per cent of their property’s value per annum.

All rental income in Florida is subject to tax, which is charged on a sliding scale (currently 15 to 34 per cent), depending on the amount. ‘Intangible personal property’ (that is, stocks, bonds, mutual funds and so on) is also taxed.

Florida’s sales and use taxes provide over half of state revenue. Sales tax applies to most retail items (excluding groceries, medicines and certain other items), as well as to car and hotel room rentals and theatre tickets. The rate is currently 6 per cent. Local governments may levy an additional local sales tax of up to 1.5 per cent.

The use tax is levied on wholesale items brought into Florida for sale.

Passports, visas and residency

Passports and visas

British citizens may visit the US for business or pleasure without a visa for up to 90 days per year. A passport is required. The traditional Visa Waiver programme in operation for most European nationals allowing them to stay in the US for up to 90 days is set to change in January 2009. From this point, all travelers wishing to use the Visa Waiver will be required to register themselves online before departure for the US.

This should preferably be done at least 72 hours in advance, and is intended to afford an extra layer of security for the US authorities. The online registration will be valid for up to two years; will be named the Electronic System for Travel Authorization; and will be similar to Australia’s Electronic Travel Authority in operation. The ESTA is also valid for multiple entries into the US, so for property owners it is possible to fill out the online registration once and then travel for two years under the normal Visa Waiver Programme.

Those wishing to stay between 90 days and six months must hold a B2 visa. To be successful, applicants must prove they have sufficient funds to support themselves during their stay.

Residency

Florida’s immigration laws are strictly enforced. Those seeking a Florida Green Card, which entitles them to live and work in the state, face close scrutiny by the Immigration and Naturalization Service, particularly if they wish to start a business.

Those not planning to work, including retirees, must be able to demonstrate substantial means. This can be an obstacle to many people’s dream of retiring to Florida.

Florida Property: Investment potential

The recent economic slowdown in the US has caused many people to be nervous about investing in property in America, but for long-term investors there are still great opportunities and potential to be found. Developers are having trouble selling projects right across the country, so they are keen to offer deals on projects that are nearing completion so that they can release more funds and begin to move on to new projects.

In some cases there have been stories of developers offering discounts of up to 40 per cent and anecdotally. This means that there are developments available where you can buy with as little as £10,000 down and developers are offering extensive guaranteed rentals and generous terms.

Spending less on a property is ideal if you are able to, and it is worth shopping around for the best deal on the type of property you are looking for, but there is little value in buying somewhere just because it is cheap.

And finally...

Buying property abroad is a major decision and one that should not be taken lightly. It is vital to ensure you have researched all aspects thoroughly and are in possession of all the relevant facts.

Individual circumstances will vary widely, so it is essential to obtain professional advice and guidance tailored to your particular situation, especially in areas such as property purchase, potential rental returns, taxation and mortgages.

Source: BuyAssociation.co.uk

United States

posted on Tuesday, October 28, 2008 10:45:34 AM (GMT Standard Time, UTC+00:00)

Trackback

Wednesday, September 24, 2008

Dubai: An Overview

Introduction

Dubai is perhaps best known for its sandy beaches, world-class shopping and striking contemporary architecture, but there is much more to it than that. It is a place of contrasts, where east meets west, and past and present co-exist harmoniously.

The capital, Dubai City, offers outstanding quality of life. Because the vast majority of its inhabitants are expatriates from around the world, it has an overwhelmingly cosmopolitan feel. The environment is clean, the selection of goods is excellent and entertainment and sporting facilities are, in many cases, world class. Crime is low, and there is almost full employment.

Geography

The emirate of Dubai lies at the crossroads of Europe, Asia and Africa, in the southeastern part of the Arabian Peninsula, southwest of Sharjah and northeast of Abu Dhabi. It is the second largest of the seven states that make up the United Arab Emirates (UAE).

Practically all of Dubai’s settled population is concentrated in Dubai City, the UAE’s chief port and trading centre, which is located on the central Persian Gulf coast. The city straddles Dubai Creek, a natural inlet that divides it into two districts, Deira in the north and Bur Dubai in the south.

Climate and weather

Dubai has a sub-tropical, arid climate with average temperatures ranging from 24 degrees Celsius in January to 41 degrees Celsius in July. In winter, there is an average of eight hours’ sunshine per day, while the summer average can be as high as 11 hours. Evenings and nights are cool.

From June to September, midday temperatures range from 35 to 42 degrees Celsius, occasionally exceeding 49 degrees. From December to March, the climate is considerably more temperate, with midday temperatures of between 25 and 35 degrees Celsius.

Although Dubai has the reputation of being uncomfortably hot, it must be remembered not only that air conditioning is ubiquitous but also that for eight months of the year the climate is extremely pleasant.

Cultural issues

Visitors should bear in mind that, despite Dubai’s cosmopolitan (and indeed in some ways very Western) atmosphere, the country is fundamentally Arab and Muslim. In general, it has a tolerant approach to Western visitors, but, as in other countries, local laws and customs should be respected.

Girls and women are expected to dress modestly. Longish skirts or trousers, worn with tops that cover the shoulders, are best, though shorts are permitted. During Ramadan (November–December), non-Muslims are not expected to fast, but eating, drinking, dancing and smoking in public are strictly forbidden.

Cohabiting, adultery and homosexual behaviour are illegal in the UAE, as are public displays of affection. It is an offence to swear or make rude gestures.

Healthcare

For some years, the Dubai government has been investing large sums in healthcare provision. This has resulted in a first-class healthcare system that is accessible to all, including expatriates and visitors (for whom health insurance is essential).

The emirate’s many public and private hospitals and clinics provide state-of-the-art medical technology and the highest standards of training and care. All types of treatment are available, including the most advanced procedures.

Work has recently begun on Dubai Healthcare City, a major new government initiative that is envisaged as a regional centre of excellence for medical services, education and research. It will be the world’s first healthcare free zone.

No vaccinations are required for entry to Dubai or the other UAE states.

City sightseeing

Dubai City provides an enormous variety of attractions for all ages.

Families love the numerous amusement and theme parks. These include Wild Wadi, which features what are said to be the tallest and fastest water rides outside North America. Dubai Zoo is another favourite destination.

The more culturally inclined can visit the Dubai Museum, which offers a fascinating interactive glimpse into the past, while lovers of traditional arts and crafts will enjoy Dubai Heritage and Diving Village.

The usual open-topped bus tours are available, but those wanting a different perspective can try a helicopter tour or take one of the cable cars that run the 2.3 km length of Creekside Park. Both provide breathtaking views of the city.

Natural beauty

In a single day, visitors to Dubai can experience a wide variety of scenery, from rugged mountains and huge sand dunes to unspoiled beaches, fertile oases and the most verdant of parks and golf courses.

A highly effective irrigation system keeps Dubai City lush and green throughout the year, despite its desert setting. There are many beautifully maintained parks and gardens, a fact that surprises some visitors.

Half an hour’s drive from the city, camel trekking in the rolling sand dunes is a popular activity, as are full- or half-day four-wheel drive safaris, which can include an overnight stay in a Bedouin tent. Evening trips to the cool of the desert can provide the ideal way to relax after the heat of the day.

Shopping

Dubai City attracts shoppers from around the world, particularly during the annual Dubai Shopping Festival. Popular buys include designer fashions, gold jewellery, perfumes and Persian rugs, all at a fraction of UK high street prices.

As well as the traditional souks (outdoor markets), the city has more than 50 modern shopping malls, many of which include entertainment facilities. The recently opened Mall of the Emirates is one of the world’s largest, and boasts the Middle East’s first indoor ski slope.

For everyday needs, there are numerous supermarkets offering a range of local and imported goods. Fresh fish, fruit, vegetables and spices are available in many souks.

A licence (available only to holders of a residence visa) is required for the purchase of alcohol for private consumption.

Eating out

Eating out is a popular pastime in Dubai, with everything from fast food (including British and US chains) to haute cuisine on offer. All kinds of ethnic food are available, Arabic, Chinese, French, Indian and Lebanese being especially popular.

The local cuisine is of Persian derivation and usually centres on beef, lamb or poultry. Under Islamic law, pork is forbidden. A traditional Middle Eastern meal might consist of falafel (chick pea patties), salads and dips, barbecued kebabs and seafood, couscous, bulgar wheat and spiced meat or vegetable casseroles. To follow, try baklava, a traditional dessert consisting of layers of filo pastry saturated in butter, with spices and chopped nuts.

Alcohol is only sold in hotels and restaurants holding a licence.

Nightlife

Dubai City has a varied and dynamic entertainment scene, with many establishments catering for its large expatriate population. These range from sophisticated cocktail lounges, piano and jazz bars through traditional British- or Irish-style pubs to clubs and discos.

Concerts, plays and exhibitions are staged throughout the year. The city offers a very high standard of international-class entertainment, being on the circuit for many theatre and dance groups, bands, singers, comedians and other entertainers. Cinemas show the latest Hollywood films, though nudity and any perceived anti-Islamic content are censored.

Those seeking the authentic Middle Eastern experience can choose from a number of clubs featuring Arab singers, musicians and belly dancers.

Music and dancing are not permitted during the month of Ramadan.

Sport and leisure

In recent years, Dubai has become famous for hosting world-class sporting events, notably the Dubai Tennis Open, the Dubai Rugby Sevens, the Dubai Desert Golf Classic and the Dubai World Cup, the world\'s highest-stakes horse race. More traditional spectator sports include camel racing and boat racing in dhows, the classic Middle Eastern wooden vessels.

Private clubs, some within residential complexes, offer golf, swimming, tennis, squash and a host of other activities. Outdoor pursuits like camping, hiking, rock climbing, cycling and driving in the desert are all extremely popular during the cooler months, as is ‘wadi bashing’, a term used to describe exploring the wadis or dry beds of streams that flow from the Hajar Mountains after the winter rains.

National holidays

Because Dubai’s religious holidays are tied to the Islamic Hijra calendar, their precise dates vary from year to year. The main celebrations are:

• Eid al-Adha (Pilgrimage) – February
• Al Hijrah (Islamic New Year) – March
• The Prophet\'s Birthday – May
• Lailat al-Miraj (the Ascension of the Prophet) – September
• Eid al-Fitr (the end of Ramadan) – November/December

Secular holidays include New Year\'s Day (1 January) and UAE National Day (2 December).

www.buyassociation.co.uk

© Copyright Buy Associates Limited 2006

United Arab Emirates

posted on Wednesday, September 24, 2008 4:08:14 PM (GMT Standard Time, UTC+00:00)

Trackback

Friday, August 22, 2008

Hotspots- Cyprus

Why Buy Property in Cyprus?

Cyprus enjoys a warm climate throughout the year, and its people are well disposed towards the British, as a result of long-standing good relations between the two nations. Attractive taxation laws make it particularly appealing to retirees.

Property prices in Cyprus have risen by as much as 80 per cent over the past five years, but still represent good value in comparison with other, more established markets, such as Portugal, Spain and Italy, particularly for new build property, which is in the majority on the island.

Hotspots – an overview

Interest from overseas property purchasers has traditionally been divided between Paphos on the western end of the south coast, Limassol on the central south coast, and Larnaca on the eastern outpost of the south coast. In more recent years, the relative outposts of Polis in the far west and Agia Napa in the island’s far east have drawn widely differing crowds to their shores.

Polis and the surrounding area, owing to their rural location, appeal to the more environmentally-minded individual, while Agia Napa has earned itself a reputation for the rowdy behaviour of a small number of largely British summertime partygoers. Naturally, the truth lies somewhere between the reported extremes. Out of season, Agi Napa, for example, is a quiet fishing village.

This guide gives brief descriptions of the areas most popular with British second home purchasers, but it can only provide a place to start. There are many resources to help with further research, including television and radio programmes, magazines, the Internet and property exhibitions, not forgetting estate agents in both the UK and Cyprus.

Paphos

Paphos is arguably the most popular town in Cyprus with British buyers of second homes. Thanks to the prevailing westerly winds, it tends to get the best and worst of the island’s weather, but fortunately conditions are hot and pleasant for nine months of the year.

Centred around a harbour with a pedestrianised area, Paphos is popular with families and a more retiring crowd than other parts of the island. Access is quick and easy at all times, as there is an international airport only 20 minutes’ drive from the town centre.

Paphos is an archaeological treasure trove, being home to several tombs of ancient kings and a number of important mosaics from Ancient Greek times. Contemporary life revolves around a bustling restaurant and beach scene, particularly in the popular Coral Bay area, 10 minutes’ drive from the town centre.

Apartments in the area cost from £80,000, while a villa overlooking the sea could set you back £500,000 or more. Prices are on an upward curve, and have been so for several years. Plans for a new marina development opposite Coral Bay look set to see them rise higher yet.

Limassol

Cyprus’s largest city, though not its capital (Nicosia is the official and administrative heartbeat), Limassol is the pulse of the island and the measure by which all others are judged.

Cyprus is at its most urban in Limassol. The most fashionable shops, restaurants and bars are located there, especially in the old town area that lies behind a section of the several-mile-long drive and promenade that runs from downtown eastwards, hugging the shoreline.

Limassol is also home to Cyprus’s largest docks, a working area located to the west of the city centre. Nearby, plans to build a new marina to entice wealthy yacht owners to moor locally are afoot, as part of a government initiative to position Cyprus as a more upmarket destination. Similar thinking is behind plans to develop several golf courses dotted around the island, including one on Limassol’s outskirts.

Naturally, property for sale will be a feature of the new golf course developments – modelled on the hugely successful and prestigious Aphrodite Hills Golf and Spa resort, located between Limassol and Paphos. This hilltop development is the island’s property benchmark.

Larnaca

Cyprus’s third town and the location of its main scheduled airline airport, Larnaca, on the southeast coast, is a waterfront town that has its supporters. It is somewhat slower in pace than Limassol, and less seasonally affected than Paphos, and proportionately fewer Britons live in this area than in the west of the island – probably because most people fly into Larnaca and drive straight out to the resort at which they are staying.

The nearby beaches are amongst the island’s best. Because the east coast is sheltered, the sea is calmer than elsewhere and picture-postcard blue, with golden sand beaches, particularly around Paralimni and up towards Famagusta. Truly an area of great contrasts, the region is home to a national park, Cape Greco, as well as Agia Napa.

Source: BuyAssociation

Cyprus

posted on Friday, August 22, 2008 9:33:42 AM (GMT Standard Time, UTC+00:00)

Trackback

Wednesday, May 28, 2008

Eco investments

For those looking for a greener lifestyle will be spoilt for choice with the developments says Amandas Shiel

Sweden
Over the past couple of years Sweden has emerged as one of the best value second home property markets in Europe. With prices beginning as low as just £28,000 for a well built property in the beautiful southern Swedish countryside it is little wonder why this country is attracting more and more Brits.
The cost of living is very similar to that of the UK and coupled with a good quality of life in a spacious and healthy countryside it makes Sweden hard to beat. With residents benefiting from a world class health service, excellent transport facilities and cheap flights from the UK it's easy to see why Sweden is proving such a winner to second home buyers.
For further details on buying a property in Sweden visit Crane International Properties Ltd Swedish Homes website at swedishhomes.co.uk.

Skelleftea, Sweden
This unique log house is constructed from Russian pine and offers the highest specifications with larger than normal sized timber providing a higher level of insulation and low carbon emission. The house boasts an expensive eco heating system, triple glazing throughout and 95mm insulation on the inside.
The bespoke build boasts stunning rooms enhanced with high ceilings and floor to ceiling windows for panoramic views. The main house has five bedrooms and five bathrooms and there is also a spacious two-bedroom apartment.
The area itself is perfect for outdoor pursuits including skiing, canoeing kayaking, horseback riding, mountain biking, tennis, sailing and fishing. The nearby town offers restaurants, bars and theatres to three indoor shopping centres.
Priced at £1,057,193 approx/€1,400,000. Furniture and a wide variety of sports equipment are included in the price.
Contact Unique Living on 0845 430 0185 or visit uniqueliving.com.

Wroclaw, Poland
Mosaic House is made up of a total of 122 one- and two-bedroom apartments, 35 of which have been purchased by Property Investment Portfolio (PIP) to offer to potential investors in the UK.
Wroclaw can be easily reached by air or train.
Mosaic House is due for completion in July 2008 and the apartments are currently being sold off-plan to investors for between £67,000 (one-bed) and £94,000 (two-bed). Investors are being offered up to 100 per cent financing, with discounts already secured – something which is unique for overseas investors buying in Poland.
PIP has an English speaking expert team in place in Poland to handle any buying and rental problems, and letting arrangements have already been established with local agents.
Call 0115 928 9333 or visit propertyinvestmentportfolio.com.

Óbidos, Portugal
Quintas de Óbidos is an exclusive new development incorporating 79 luxurious villas.
There are 16 styles of villa, each set in approximately 1.3 acres (5,200 m2) of private gardens and grounds, planted with centuries-old olive trees, Jacarandas and pine trees. The villas are architecturally designed to reflect their Portuguese heritage and each incorporates approx 8,500 sq ft (800 m2) of living space.
Onsite facilities include an equestrian centre and an exclusive country club which boasts a wide range of amenities. A championship golf course is situated just 300 metres from the entrance of the resort.
Quintas de Óbidos has been carefully planned so that it has minimal impact on the environment, integrating with the glorious surrounding nature. A series of fresh water lakes have been incorporated within the landscape to provide natural wildlife habitats. The development also benefits from extensive walkways which snake around the borders of the lakes.
Quintas de Óbidos is situated on the edge of the Óbidos Lagoon, one of the most desirable locations of the Silver Coast, a short distance from the medieval town of Óbidos. The region offers unique character which is rich in culture and natural beauty, with good access to Lisbon which can be reached in less than an hour.
Prices range from €1.4 to €1.8 million euros, including villa, swimming pool, landscaped gardens and grounds.
For further information visit qdo.pt or call +351 22 606 15 40. The UK selling agent Knight Frank can be contacted on 020 7629 8171.

Moulin de la Pauze, Dordogne, France
Located in a very quiet area between Brantôme and Ribérac, this restored old mill sits in extensive grounds measuring 1863m².
The interior boasts an open plan kitchen/sitting/dining room with fireplace and laundry room on the ground floor. Upstairs consists of a master bedroom with an en-suite bathroom, two bedrooms, a family bathroom and WC.
The outside space includes a heated swimming pool with salted water and an outbuilding with a carport. This area can be easily reached by Eurostar and the TGV.
Priced at €345,000 including agent’s fees.
For more details visit Sifex at sifex.co.uk or call 0207 384 1200. Alternatively, visit the French Connection at valora.fr (property ref no 5240) or call +33 5 53 900649.

Overseas

posted on Wednesday, May 28, 2008 8:47:37 AM (GMT Standard Time, UTC+00:00)

Trackback

Wednesday, May 14, 2008

SPAIN The Costas

The Costas have long been a popular holiday destination with the Spanish, offering good weather, long sandy beaches and varied scenery.

According to Spanish property portal, Kyero.com, the Costa offering the lowest property prices is the Costa Verde where the average property price, as of March 2008, is €156,000, 36 per cent less than the Spanish national average.

The Costa Verde offers peaceful beaches and traditional picturesque towns.
In contrast, the most expensive Costa is the Costa Maresme – in the province of Barcelona – where average house prices are high due to the excellent infrastructure and good economic prospects on offer. Here, the average property price as of March 2008 is €599,000, 144 per cent over the national average of €245,000.

The Costa del Sol has seen average property prices decrease from a high of €308,000 in 2006 to €305,000 in 2007 and to a current average of €297,000 in March 2008. The disappointing winter of 2007 for Costa del Sol tourism (as reported by the Association of Hoteliers) has accelerated this decrease in house prices, as has a move towards the cheaper and less developed Costas, this hitting areas such as the Costa del Sol hard.

One Costa benefiting from this transition is the Costa de Almeria in the province of Almeria to the east of Malaga, which ranks as the third cheapest Costa but has seen a steady increase in property prices in the last 2 years. From an average price in 2006 of €190,500 with an increase of three per cent in the course of a year to an average of €196,250 in 2007, and up another one per cent to a current average property price in March 2008 of €198,000, the Costa de Almeria is experiencing an increase in popularity. With great geographic diversity and an unspoilt coastline, it is easy to see why this area is seeing a rise in property prices. A mild climate and around 3,000 hours of sunshine a year sets it apart from other more affordable Costas such as the Costa Verde and therefore the popularity of this area is set to grow still further.

With the highly publicized popularity of the Spanish Costas, it is easy to think that you know all there is to know about these coastal destinations. However, with such diversity across the 15 Costas there is still so much to discover and something to offer every tourist and in turn property investor.

PROPERTIES

La Heredia

Spread over two valleys in the foothills of the Sierra Bermeja on the cosmopolitan Costa del Sol is the 900 acre paradise of Monte Mayor Golf & Country Club, La Perla International Living’s flagship resort development in Spain. Here, residents enjoy not only the best weather in Europe, but also the unspoilt beauty of the Andalusian countryside.

The development offers a secluded rural refuge, yet remains within minutes of the bustle and excitement of the coast. Whether buyers prefer the natural beauty of the golf course designed by Jose Gancedo, the rugged hills or shimmering water panorama stretching all the way to Africa, the views at Monte Mayor are incomparable.

There are a range of superb plots located throughout the landscape of Monte Mayor. For those who prefer living in a more intimate interconnected community, luxury townhouses are also available in the private mountainside village of La Heredia de Monte Mayor offering wonderful views sweeping out over the Mediterranean to the African coast.

La Heredia will be comprised of 135 two-, three- and four-bedroom luxury townhouses. Each has a unique design and includes fireplace, double glazing, under floor heating throughout with individual climate control in each room, garage space and a storage unit.
Townhouses start at €695,000 (two-bed/two bath) and range to €995,000 (four-bed/four bath). Villas start at €930,000 (four-bed/four bath) and range to €1,050,000 (four-bed/four bath).
For more information contact La Perla International Living on 0031 205894070 or visit laperlainternationalliving.com.

Marbella Royal Suites

Marbella Royal Suites is close to the idyllic whitewashed village of Benahavis in the middle of the Costa del Sol. Situated on the doorstep of El Paraiso golf course and under ten minutes drive from the golden sands of the Mediterranean Sea it is also easily accessible to the sophisticated lifestyle of Marbella and the renowned and beautiful Puerto Banus, home to the trendy and wealthy.

This exclusive development brings to the market a selection of ‘turnkey’ one-, two- and three- bedroom apartments. Impressive on site facilities put the emphasis on luxury and includes swimming pools, a fully equipped fitness centre, landscaped gardens, comprehensive business facilities and 24 hour security. This five star investment opportunity is currently 30 per cent below the official bank valuation with an anticipated R.O.I of at least 12 per cent. Via a seven year leaseback scheme, owners will earn 50 per cent (anticipated £10k per annum) of ‘pooled’ income generated by the suites and enjoy up to 56 days personal usage each year for no additional cost. 100 per cent mortgages are also available subject to status.

Prices at Marbella Royal Suites start from just £99,000. Visit ownerinvest.com or call 0800 048 0712 for more details.

Duchy Estates

Duchy Estates has teamed up with global luxury lifestyle brand, Kasamia, to launch their flagship condo-hotel – Pueblo Acantilado Suites. The charming cliff-top resort is close to Alicante in southern Spain and provides a dreamy romantic hideaway for its guests as well as a rewarding opportunity for investors. Fully approved for SIPPs with all the associated tax benefits, Pueblo Acantilado Suites is forecast to return more than six per cent from year one and that excludes capital appreciation.

Following a 10 million euro refurbishment, the 96 exceptionally appointed one- to two-bedroom suites have access to a wealth of on-site amenities. Swimming pools surrounded by spacious sundecks, a Roman-esque amphitheatre, a 600m² spa and gymnasium and Kasamia Tapas & Martini Lounge are all set against a backdrop of dramatic Mediterranean Sea views. A concierge is on hand to arrange à la carte services from in-room massage to housekeeping and laundry plus event catering, childcare and personal shopping.

Guests will be shuttled in comfort between Pueblo Acantilado Suites and the nearby sandy beaches and first-rate golf courses.

Investors can also become guests, enjoying up to eight weeks’ personal use per year, generally at no additional cost, and reveling in all the on-site amenities. At just 25 minutes from Alicante International Airport weekend breaks in the Spanish sunshine will soon become a way of life.

Freehold prices at Pueblo Acantilado Suites start from €180,280 euros (£141,682 pounds) for a one-bedroom suite. 70 per cent LTV mortgages are available and the current €10 million refurbishment programme will complete ready for opening on 20 June 2008.

Show flat is available for viewing. Contact Duchy Estates for details of subsidised inspection visits to the resort on UK freephone 0800 849 8089 or call the Spanish office on 00 34 952 906 944.
Alternatively visit duchyestates.co.uk. .

posted on Wednesday, May 14, 2008 11:25:04 AM (GMT Standard Time, UTC+00:00)

Trackback

Monday, April 14, 2008

Mediterranean magic

Amanda Shiel takes a look at some of the finest properties available around the Med

Marrakech, Morocco
Lac Lalla Takerkoust, located in the green foothills of the Atlas Mountains and just a short drive away from hotspot Marrakech, is the site of La Perla International Living’s latest development.
Situated on the banks of Lac Lalla Takerkoust, the site encompasses in excess of eight hectares (approximately 20-acres) on the banks of this large, freshwater reservoir, fed by the pure water from the Atlas Mountains. Here, La Perla is creating a trendy lakeside beach club and exclusive living community.
The renowned Spanish architect Cesar de Leyva is creating the design details of this innovative project in close partnership with his Moroccan counterpart in Marrakech, architect Errachid Ben Driouich. The architecture and finishings will combine exotic, Arabian styling and contemporary western luxury, creating picturesque courtyards, fountains, terraces and pergolas. Living opportunities will include numerous spacious villas, some with fantastic views from the hill crest – each with a private, infinity-edge plunge pool.
Facilities will include a restaurant and bar, a beach club that will be open to the public with an outdoor pool and a swim-up bar, a boutique, and a spa and gym area.
For more information contact La Perla International Living on +3 (0)20 589 40 70 or visit laperlainternationalliving.com.

Algarve, Portugal
Overseas Investments UK Ltd has recently announced the launch of its exclusive new beachfront development in the Algarve.
Rocha Beach Residence will be located in the district of Portimao, just 50 metres from one of Europe’s finest beaches in the resort of Praia da Rocha.
Portimao is a region set to enjoy substantial investment in infrastructure with future projects including Portugal’s new Formula 1 circuit, an international airport, a new cruise ship port and a proposed 500-hectare theme park all within a 20 minute drive of the hotel. Overseas Investments are focusing on marketing to the UK investor and overseas property buyer to sell all 158 of the luxury apartments in the new Aparthotel development.
With completion due towards the end of 2009, Overseas Investments are also offering excellent financing facilities with minimal cash outlay during the construction period and a plan for buyers to mortgage 100 per cent of the contract price (subject to conditions and status).
All owners are given up to six weeks personal use each year of their property at no cost and a guaranteed annual rental income for 10 years.
All of the contemporary one-bedroom studio apartments will have private balconies, with over 50 per cent offering direct views of the beach. They will all be fully furnished to a very high standard including air conditioning and 2 flat-screen TVs. The 158-unit fully managed Apart-hotel will also feature an indoor pool, gym and spa.
Contact Overseas Investments UK on 0845 602 4375 or visit rochabeachresidence.com.

Liguria, Italy
The Portofino Estate in Liguria offers superb vantage points from its Mount Portofino location. Located 640 ft above sea level this enchanting property overlooks the traditional sea village of Portofino and the small bay of Paraggi on the Eastern Coast of Liguria just 18 miles from Genoa, the regional city.
Boasting several buildings in land totalling over six acres (additional 1.23 acres available) it offers 10 bedrooms, six bathrooms and large reception rooms. The main villa provides over 3,700sqft with a feature panoramic terrace and wooden pergola being the main focal point in a picture postcard setting. In addition, there is a separate guesthouse offering 1,184sqft on two levels and two log cabins and storage facilities adding a further 1,000sqft. The private garden is home to an abundance of vegetation along with a wood fired oven and seating area.
The remainder of the land is cultivated and offers an array of olive groves, palms, banana trees, magnolias, mimosa trees and a whole host of other fruit bearing trees. Perhaps its biggest feature is a private path which totals some 600 steps and leads to a secluded cove set within the Portofino natural park.
Priced at £5.85 million. Call Precious Villas on 0870 899 8023 or visit preciousvillas.com.

Sardinia, Italy
This recently constructed complex is located in the Golfo Aranci region on the North Eastern coast of Sardinia. The properties are superbly located close to Porto Rotondo, one of the most famous areas on the Costa Smeralda. The homes are also just ten minutes from the airport at Olbia, 50 metres from the sea and 200 metres from Marina at Golfo Aranci.
Prices from €207,000 - €320.000 (£142,000 - £220,000).
Contact Casa Travella on 01322 660988 or visit casatravella.com.

Western Liguria, Italy
Casa Travella is currently marketing a lovely apartment located in the beautiful mediaeval town of Pogg. Located three kilometres from the beach, it offers magnificent views over both the sea mountains.
The property has recently been renovated and comprises a large living room with fully fitted corner kitchen, two-bedrooms, bathroom; utility and cloakroom. The well maintained property also boasts a lovely loggia leading from the living room with magnificent sea.
Priced at €280,000 (£215,000).
Contact Casa Travella on 01322 660988 or visit casatravella.com.

Makriyialos, Crete
Properties at Bay View are currently available off plan.
The development is located just two minutes walk from the beach and two minutes drive from Makriyialos which boasts an array ofshops, cafes, bars and restaurants. Bay View offers easy access to the scheduled new airport at Sitia.
Prices range from £71,121 (€98,000) to £82,615 (€114,000) fro a two-bedroom apartment. Bungalows are also available for £172,415 (€240,000).
70 per cent off-plan mortgages available.
Call Olive Tree International Property Ltd on 0845 2570227. Alternatively, visit olivetreeworld.com.

Kalkan, Turkey
London-based property company Bridgehouse International recently launched a wide range of property types from one-bedroom apartments to five-bedroom premier villas at LaVanta.
This exclusive development consists of 158 apartments and villas and provides a holiday opportunity for discerning second-home owners and a tempting proposition for the shrewd investor.
Kalkan is situated around a natural harbour at the foot of the Taurus Mountain. Views from the development offer clear azure seas and a picturesque scattering of boats, as well as a jumble of age-old whitewashed villas that line the narrow streets down to the harbour, a reminder of Kalkan’s Ottoman heritage.
Homes are traditionally designed and constructed, offering excellent family accommodation set among large, beautifully planted gardens. The villas also overlook their own private pools and enjoy a high degree of privacy.
All residents have on-site amenities on their doorsteps such as the exclusive spa, sporting facilities, restaurants, shops and a boutique hotel.
These top-of-the-range properties are skilfully arranged to provide spacious living and sleeping areas, with accommodation spread over two or three storeys and some villas even incorporating separate guest or staff quarters.
Individual specifications vary but all homes feature large open plan interiors with at least one master en-suite, family bathroom, balconies and covered terraces.
Only a few properties now remain available on Phase 1. Prices start from £69,000. Prices for Phase 2 start at £79,000 for a one-bedroom apartment and £469,000 for a five-bedroom premier villa.
Contact Bridgehouse International on 020 7478 9253 or visit bridgehouseinternational.com.
Menton, France
Menton is the warmest and most Italian-influenced of the Côte d'Azur resorts. This high-class development is ringed by mountains and maintains a wonderful climate which suits its simple, quiet mood.
Accommodation at Hanmbury Place ranges from functional one-bedroom apartments to three-bedroom apartments ideal for families. Apartments overlook the sea, the beautiful landscaped gardens, or both.
Prices start from £190,000 for a 28.1 sq m studio apartment and range to £1,152,000 for a 98.2 sq m three-bedroom apartment.
Contact Chesterton International on 020 7201 2070 or visit chesterton.co.uk.

Martellago (near Venice), Italy
Le Residenze del Golf is located in Martellago, 10 kilometres north-west of Venice. The development consists of two blocks of studio, one- and two- bedroom apartments and overlooks the Ca’ della Nave golf course. All apartments feature central heating, air conditioning and a parking space.
An optional six per cent rental guarantee scheme is available for a minimum of four years. Prices start at €148,000 (approximately £113,950) for a studio apartment.
Contact Overseas Homesearch on 0800 6520 769 or visit overseashomesearch.co.uk.

Menorca, Spain
On this much-loved island, Jackson-Stops and Staff International offers a rare secluded villa only minutes from San Luis and the beaches of the South Coast. This modern and spacious country house of 450 square metres is set in large private landscaped gardens of 22,000 square metres,
The house has large and bright rooms, four bedrooms with en suites and ample living and dining areas finished with first-class fixtures and fittings.
The landscaped gardens include a pool, pond, terracing and barbecue. The house will be sold with many extras and is ideal for a lavish holiday home and year-round living.
Priced at €1.5 and on sale through Jackson-Stops and Staff International. Call 020 7828 7387 or visit jackston-stops.com.

Mediterranean

posted on Monday, April 14, 2008 3:55:32 PM (GMT Standard Time, UTC+00:00)

Trackback

Tuesday, April 08, 2008

Morocco property market shuns global downturn

Morocco has long been a popular tourist destination for British travellers, with its Mediterranean climate and cultural delights offering a pleasant and affordable holiday. However, investors are also now fast realising the potential of the country, especially as the economy remains robust against the global downturn.

Moroccan specialist Compass Properties reports that Morocco’s index of leading shares (MASI) has risen by more than 13%* since the start of 2008, compared to a fall of more than 11% in the FTSE 100** over the same period.

It is an excellent time to look at investing, with the property market booming, and tourist numbers set to double to 10 million by 2010. Massive developments in the infrastructure, including new roads and motorways, increase of telecommunications, electricity, banking, insurances along with improvements in education and health care and an increasing number of flights, are fuelling the market and the comparatively low price of property is a enticing hook for international investors.

The country offers incredible value, with beachfront properties costing around one third of similar units located just a few miles across the Mediterranean Sea in southern Spain.

Steve Burns, Marketing Manager for Compass Properties, commented: “At Mirador Golf, which has just been completed, 1 bedroom apart-hotel units released off plan for £19,000 are now re-selling for £27,000. A similar unit at our newly released Cabo Dream development is priced at £22,716 and these are selling fast. Investors at Playa Vista - our marina development - have fared even better. Two-bedroom apartments released in the first phase sold for £40,000, and these are currently priced at £70,000."

He says the country offers a safe haven to any property investor worried by the credit crunch. “Morocco enjoys a very stable economy as most of the leading companies are Morocco-owned and are less-influenced by what is happening in the global markets. Huge inward investment, low cost of living and fabulous weather make Moroccan a dream destination – for tourists, property owners and investors alike.”

If you are looking at an international property investment, it is definitely worth considering Moroccan property. Even on a tight budget there is something for everyone.

Cabo Dream is an excellent example of what you can get for your money. Located on the Costa Vista, Morocco’s Mediterranean Coast, with its hundreds of miles of glorious sandy beaches, the location is idyllic. It is a great combination of beach resort living and convenience, with a range of local facilities in the nearby town of M’Diq including restaurants, shops, banks and medical facilities.

Because of it’s elevated position the development boasts panoramic views of the Mediterranean and Cabo Negro Golf Course, and in the winter, the snow-capped Rif Mountains.

Only 88 apart-hotel units will be available in the low-storey development, and no further building is permitted on the large area of national parkland directly behind it so there is a certain amount of exclusivity.

The region’s strong property market has benefited investors in the adjacent Mirador Golf development, which includes 2 bars, restaurant and a supermarket. Here, the price of 1-bed apart-hotel units has leaped from £19,000 to £27,000 in only 18 months. Owners in the region have also reported rental occupancy of over 95% in the summer months.

Steve Burns, Marketing Manager for Compass Properties, commented: “Cabo Dream is the perfect getaway for anyone who wants the benefit of an easily maintained beach property that can be enjoyed all year round.”

Compass Properties offer subsidised viewing trips for prospective purchasers. For details and more information on Playa Vista or any other Compass Properties’ development contact:

Compass Properties 0800 007 5292

www.compasspropertiesabroad.com

* The MASI Free Float Index showed a rise of 13.14% from 31/12/2007 to 02/04/2008.

** The FTSE 100 Index fell by 11.69% from 6456.9 on 31/12/2007 to 5702.1 on 31/03/2008.

posted on Tuesday, April 08, 2008 12:44:21 PM (GMT Standard Time, UTC+00:00)

Trackback

Wednesday, March 26, 2008

Golfing greats

Amanda Shiel takes a look at what’s available near excellent courses

Alentejo, Central Portugal
The Tróia Peninsula, known for superb golf and water sports, is the setting for the 440-hectare Troiaresort, a new development on this northern tip of the Alentejo region of Portugal, just 30 minutes south of Lisbon.
A range of apartments, townhouses and villas is currently under construction at the resort, which will offer a wealth of facilities and amenities in a picturesque setting. All properties will have a sea view.
The first phase, which will comprise three hotels, a marina, casino, conference centre, commercial facilities, restructuring of golf course and delivery of Marina and Beach apartments, will be completed by September 2008.
The Troia Golf Championship Course was designed by renowned golf architect Robert Trent Jones Sr. and is considered to be one of Portugal's most beautiful courses, with its unique location between the sea, the Sado Estuary and the Serra da Arrábida.
Prices range from €290,400 for a one-bedroom marina apartment to €1.3 million for a six-bedroom villa. All apartments and townhouses come fully furnished.
For further information visit troiaresort.net or call +351 214 643 322.

Western Algarve, Portugal
Parque da Floresta Golf & Leisure resort is an all-round destination situated near Lagos in the Western Algarve, Portugal. Luxury properties surround its championship 18-hole, par 71 golf course.
The large range of amenities includes a golf academy, restaurants and bars, a bowling green, floodlight tennis courts, outdoor and indoor heated swimming pools, children's pool, kid’s clubs, and a health and beauty spa (more info below).
Properties at the latest phases of Parque da Floresta are currently for sale through outright and fractional freehold ownership. Built in the style of a new golf village and named Quinta da Encosta Velha, there is a broad range of properties available.
Buyers can select one of the unique Golf Village Houses with communal heated pools and gardens or an independent Golf Villa with private pool and small gardens. There are also linked villas with private heated plunge pools, gardens and barbeques. Within Quinta da Encosta Velha is a business and conference centre, reception area, and A Taberna Restaurant.
Parque da Floresta resort is less than one hours’ drive from Faro airport, providing flights to a large number of UK and Irish airports.
A two-bedroom Golf Village house with communal gardens and heated swimming pools is available for €397,500.
Contact Vigia Property Sales UK on 01223 316820 or visit parquedafloresta.com.

Costa del Sol, Spain
La Heredia will be comprised of 135 two-, three- and four-bedroom luxury townhouses. Each has a unique design and includes fireplace, double glazing, under floor heating throughout with individual climate control in each room, garage space and a storage unit. Purchasers will have the secluded, rural refuge of their dreams, yet remain within minutes of the bustle and excitement of the coast.
The golf course is the centrepiece of the Monte Mayor estate, situated between the villages of Benahavís and Cancelada.
Townhouses start at €695,000 (two-bed/two bath) and range to €995,000 (four-bed/four bath). Villas start at €930,000 (four-bed/four bath) and range to €1,050,000 (four-bed/four bath).
Contact La Perla International Living on 00 31 20 589 40 70 or visit laperlainternationalliving.com.

Los Arqueros, near Marbella
Close to Marbella, Residential Los Eucaliptos is at the award winning Los Arqueros Golf & Country Club and consists of 15 buildings with six apartments in each.
Los Eucaliptos is being developed by Taylor Woodrow to a very high standard. The development is made up of two- and three-bedroom apartments with an allocated parking space for every apartment and a communal swimming pool with landscaped gardens.
From: £170,000 for a two-bedroom apartment
For more details call Chesterton International Ltd on 020 7201 2070 or visit chesterton-international.com.

Pezula, South Africa
Located on the eastern head of Knysna, on South Africa's famous Garden Route, Pezula is surrounded by rugged cliffs, ancient forests and sheltered beaches, with sweeping views of the Pezula Championship Golf Course, the Indian Ocean and the Knysna Lagoon.
The Country Estate at Pezula has just been launched and consists of just 28 exclusive north-facing plots priced from R1.26 million (approx. UK£ 93,181), it represents country and nature living at their best and the last opportunity to own a piece of Pezula.
Pezula is also selling its fourth phase consisting of 34 plots ranging in size between 2,500m² and 10,000m². In contrast to earlier releases these are ‘plot and plan’ sites. Each is sold with a complete set of approved architect designed plans which effectively streamlines the process of building at Pezula for overseas buyers. Starting at ZAR 2.2 million (approx UK£160,426), all properties have magnificent views of the Knysna Lagoon and the Outeniqua Mountains.
Contact the Pezula Group on +27 44 302 5332 or visit pezula.com.

Abruzzo, Italy
San Donato is located 850 metres above sea level and is surrounded by a residential village just 10 minutes from the historic city of l’Aquila in Italy.
Residences comprise 100 studio, one-, two- and three-bedroom apartments. Facilities include a swimming pool, a fitness centre, restaurants, bars, a golf pro-shop and clubhouse. Owners are offered a discounted fee for golf course membership and green fees. Owners also have access to all on-site facilities. Completion is expected in March 2009.
Abrruzzo is one of the most thinly populated and unspoilt regions of the Italian peninsula. Skiing is provided in the winter at nearby Campo Felice – a 20 minute drive from the development – and for summer fun blue flag beaches are 45 minutes away. Situated in the heart of Italy, Pescara is 60 minutes from Son Donato and Rome is a 75 minute drive.
Easy access is provided from the UK via a huge range of regular and budget airlines into both Rome and Pescara.
Prices at San Donato Golf start at €109,143 (approx. £76,000).
Call Overseas Homesearch +44 (0) 800 652 0769 or visit overseashomesearch.co.uk.

NonSuch Bay, Antigua
NonSuch Bay, a 16-hectare (almost 40-acre) development, provides a wide choice of accommodation, from luxurious waterfront townhouses with private plunge pools and moorings to well-situated apartments of different sizes set flanking the beach or on the hillside.
On-site amenities include a restaurant, a private dock and moorings, shops, tennis courts and at least one communal swimming pool. Only 20 minutes from English Harbour and 25 minutes from the capital city, St. John’s, and the island’s V.C. Bird International airport, which offers direct flights to and from London in just eight hours, NonSuch Bay is a convenient and attractively priced Caribbean haven.
All three of Antigua’s golf courses are open for public play.
Two-bedroom apartments cost from US$475,000.
Contact Robson Barnes 01483 242 49 or visit robsonbarnes.com.

St Lucia, Caribbean
Raffles St Lucia comprises a 200-room Raffles Resort, around 250 one-, two- and three-bedroom apartments and 72 villa plots.
Further features include the Raffles Amrita spa, five swimming pools, a choice of restaurants and a Jack Nicklaus Golf Club (JNGC).
Thirty-five special Founders packages are available until the end of 2007, which include in the purchase price: a one- or two-bedroom apartment, plot of land (includes building permit for construction of a villa), two Jack Nicklaus Golf Club St Lucia memberships (Founder and Golf) and an associate membership to the Jack Nicklaus Golf Club worldwide reciprocity programme.
Prices from are from US $1,100,000 for a package with a one-bedroom apartment and US $1,600,000 for a package with a two-bedroom apartment. Reservation for the Founder’s Package requires a US $5,000 refundable deposit
Call Chesterton International on 0207 201 2070 or visit chesterton.co.uk.

Belek, Turkey
Augustus Country Club offers exceptional facilities including two tennis courts, golf, putting greens, café/sports bar, shops, restaurants and a superb spa and indoor pool.
Prices start from £107,000/€160,000 for detached villas built in local stone. There is a choice of two-, three- or four-bedrooms with en suite facilities.
Luxury detached four-bedroom, three bathroom detached villas start from around £175,000.
At the top end of the market there is Villa Caesar in Augustus Village near Antalya for £795,000. This truly remarkable bespoke villa offers the very finest lifestyle and has been conceived as zero carbon rated.
For more details contact Nirvana International on 0118 965 4072 or visit www.nirvanainternation.com.

Overseas

posted on Wednesday, March 26, 2008 10:45:17 AM (GMT Standard Time, UTC+00:00)

Trackback

Spanish sensations

The long sandy beaches, quaint towns, stunning scenery and fine food have ensured that Spain has remained a popular choice. Amanda Shiel takes a look at what’s available

The Balearic Islands, an autonomous division of Spain, are one of the most popular destinations in the Europe and it is this popularity that has sent property prices in this area soaring by a staggering 15.26 per cent in the last 12 months. Demand for properties on Mallorca in particular has resulted in a limit to the new land available, pushing prices up.
For those keen to purchase a home on the stunning island before prices rise further, Taylor Woodrow de España has a selection of fantastic developments to suit a range of budgets and lifestyles.
For sun worshippers, the east coast of Mallorca is famous for its beaches and offers more than fifty secluded coves of enormous beauty. Cala Millor is an ideal base from which to discover this region. Just 3km from the resort is Port Verd, a collection of 33 spacious two- and three-bedroom apartments, priced from €239,000. This stunning development is just 200 metres from the beach and also benefits from a swimming pool, making it the ideal place to relax and soak up the Spanish sun.
Another development on the east coast is El Puerto II at Cala D’or, a stunning collection of just 31 two-bedroom apartments, priced from €238,000. Many apartments have views over the marina and the development is surrounded by generous gardens and three communal swimming pools. The Vall D’or golf course is just ten minutes away for those wishing to perfect their game in a beautiful climate.
Cala Magrana 2 at Porto Cristo is a more established development where Taylor Woodrow de España has a selection of two-bedroom apartments, priced from € 250,000 and three-bedroom townhouses priced from €285,000. The development is just two minutes away from the sea and very close to golf courses, as well as the marina of Porto Cristo.
Situated adjacent to the popular and well-established Cala Magrana 1 development, properties here benefit from communal gardens and swimming pool, and would be ideal for families or those looking to relocate to Mallorca.
For further information telephone the sales office on 08000 121020 or visit taylorwoodrow.es.
Malibu, at Puerto Banus on the Costa del Sol, is a tranquil retreat from the glitz and glamour that epitomises the exciting Mediterranean coastline of five star hotels, gourmet restaurants, exciting bars and the famous marina that draws some of the finest privately owned craft, in the world. Home of the stars, Puerto Banus oozes sophisticated charm and a certain cutting edge chic.
The four-bedroom ground floor apartment is located in one of the most luxurious front line beach complexes along this golden mile of coastline and is within walking distance of the Andalusian style marina and exclusive resort that is Puerto Banus.
Owners will benefit from 24 hour security, access to the beach, two sweeping free form communal swimming pools and private and spacious terrace.
Puerto Banus is within a short drive of Marbella and there is easy access from Malaga International Airport via the new motorway.
For more details contact Unique Living on 0845 430 0185 or visit uniqueliving.com.
Spain has long been a prime destination for those seeking to combine great weather and beautiful surroundings with their love of golf. For investors, buy-to-let golf properties tend to result in more rental weeks annually, and those who purchase near major golf courses can expect good occupancy rates throughout the year.
Taylor Woodrow de España’s Las Encinas de los Arqueros development on the beautiful Costa del Sol is a collection of just 30 two- and three-bedroom apartments that have been traditionally designed in the style of a Mediterranean village and built to only three storeys high.
The apartments, which are priced from €240,000, feature private gardens or balconies with stunning views overlooking the golf course and sea, a communal swimming pool, landscaped gardens and allocated parking.
Situated only a short distance by car from Marbella and Puerto Banus, Las Encinas de los Arqueros is ideally located and just under an hour away from Malaga airport.
For more information on this development contact the sales office on 08000 12 10 20 or go to taylorwoodrow.es.
Residents of the luxurious apartment development Los Cortijos in Mijas will gain a bird’s eye view of Marina Mijas. With an initial investment of 50 million euros, Marina Mijas will comprise 800-1,000 berths of all sizes up to 100 metres (328 ft) as well as two docks designed to accommodate transatlantic cruisers. In addition there will be two hotels, a commercial area with shops, restaurants, cafés, leisure zones, a congress centre, yacht club and full service dry dock. The new facility will comfortably create up to 1,000 new jobs and the avant-garde design will ensure that it becomes a worldwide reference point.
Los Cortijos will comprise one-, two- and three-bedroom apartments are set within the Costa del Sol’s true ‘golf valley’ with 12 courses within literally minutes of the resort. The properties themselves all boast golf, sea and mountain views with no sub-standard views on offer and are superbly equipped with first class laminate wooden flooring in living rooms and bedrooms, heating and comfort cooling, fully fitted kitchens, disabled-adapted lift access to just two apartments per floor, allocated parking and storage. On-site facilities include a gymnasium, spa, sauna, three swimming pools and manicured gardens whilst the Calanova Golf Clubhouse is within comfortable walking distance.
Prices start from just €195,000 euros for a one bedroom apartment with 25m² of terracing rising to €440,000 euros for a three-bedroom three bathroom duplex penthouse with a mammoth 40m² of terracing.
For further information on Los Cortijos contact Duchy Estates on UK freephone 0800 849 8089 or call the Spanish office on 00 34 952 906 944. Alternatively, visit duchyestates.co.uk.
Spread over two valleys in the foothills of the Sierra Bermeja on the cosmopolitan Costa del Sol is the 900 acre paradise of Monte Mayor Golf & Country Club, La Perla International Living’s flagship resort development in Spain. Here, residents enjoy not only the best weather in Europe, but also the unspoilt beauty of the Andalusian countryside.
Purchasers will have the secluded, rural refuge of their dreams, yet remain within minutes of the bustle and excitement of the coast. Whether buyers prefer the natural beauty of the golf course designed by Jose Gancedo, the rugged hills or shimmering water panorama stretching all the way to Africa, the views at Monte Mayor are incomparable.
Buyers have the option of superb plots, which are carefully situated throughout the landscape of Monte Mayor, or for those who prefer living in a more intimate, interconnected community, luxury townhouses are also available in the private mountainside village of La Heredia de Monte Mayor. Homes here offer wonderful views sweeping out over the Mediterranean to the African coast.
La Heredia will be comprised of 135 two-, three- and four-bedroom luxury townhouses. Each has a unique design and includes fireplace, double glazing, under floor heating throughout with individual climate control in each room, garage space and a storage unit.
Townhouses start at €695,000 (two-bed/two bath) and range to €995,000 (four-bed/four bath). Villas start at €930,000 (four-bed/four bath) and range to €1,050,000 (four-bed/four bath).
For more information contact La Perla International Living on 0031 205894070 or visit laperlainternationalliving.com.

Family snap up a bargain
Tracy and Richard have lived on the Costa del Sol for five years but always in rented accommodation. With demanding jobs they never had the time or the inclination to house-hunt but as the market cooled towards the end of 2007 and daughter Lylla settled into school, Tracy and Richard decided that they’d take the plunge and go bargain-hunting.
Tracy says, ‘Our criteria started off rather vague, a townhouse or a villa maybe with a budget of €500,000 to €700,000. The only definites were that we needed a big garden, so apartments were out, and wanted to stay to the west of Marbella close to Lylla’s school. We made an online enquiry with Duchy Estates and were emailed a selection of properties, many of which were exclusive to the agent rather than pulled off a multiple listing system. And as they understood what we were after we agreed to conduct some viewings.’
The couple had a stroke of good luck when a property that had originally been out of reach suddenly became an option after the vendor dropped the price from €890,000 to €790,000 euros. The four-bedroom villa in Cancelada was on a 940m² plot, had an immaculately maintained garden with swimming pool and partial sea views.
Tracy says, ‘Richard was immediately impressed with how well the property was built. The French architect had opted for 600mm thick walls and at nine-years-old the property had had plenty of time to settle so anything structural that was going to fail would have already done so. The current owners had lovingly looked after the villa and no major works on the kitchen or bathrooms was needed. In short we loved it, but not for €790,000, which was too much. After some negotiations our initial offer of €660,000 was nudged a little higher to €690,000, but for that we also got most of the furniture and cupboards full of bed linen and crockery.’
Tracy, Richard and daughter Lylla cannot envisage moving from their villa for many years to come and with all that space they might even extend the family!
Contact Duchy Estates on UK freephone 0800 849 8089, the Spanish office on 00 34 952 906 944 or visit duchyestates.co.uk.

Spain

posted on Wednesday, March 26, 2008 10:40:45 AM (GMT Standard Time, UTC+00:00)

Trackback

Subjects

Home

New Homes

Overseas

Buying, selling and letting