Overseas - Friday, January 12, 2007

France represents so much: culture and cheese, chateaux and gateaux, Champagne and romance … Well, that’s only the beginning. The Brits have long admired the Gallic joie de vivre, with its emphasis on romance, food, art and intellect – and from 19 to 21 January we have the chance to take a closer look at the finest that France has to offer.
To celebrate this beautiful and diverse country, Vive la France is coming to Olympia, London. With over 100 exhibitors, the event showcases the very best, from fine wines and gastronomic delights to culture, style and interior design. Travelling to and living in France are also emphasised, as the show spotlights a rich variety of travel destinations as well as a whole host of property.

To cover all aspects of French culture and life, Vive la France has four shows within a show. The French Travel & Tourism Show features regional tourist boards, from the favourite and best known regions to the hidden gems of France. The French Food & Wine Show includes Taste on the Terrace, which will be serving signature dishes created by some of the most popular French restaurants in Britain such as Brasserie Roux, Club Gascon, Le Gavroche and Le Manoir aux Quat’Saisons. Also, superchefs Raymond Blanc and Jean-Christophe Novelli will be cooking up a storm at the Food Theatre. Elsewhere visitors should prepare their taste buds for a culinary celebration, with a whole host of fine wine and food tasting to tempt passers-by.

The French Lifestyle and Culture Show captures that certain je ne sais quoi which makes French living so desirable. Visitors can brush up on their French or start from scratch at the Language Pavillion while fashionistas should head straight to the Fashion Stage where designers such as Agnès B will be presenting exclusive previews of their spring/summer collections. And for lovers of La Nouvelle Vague, TV5 will be showing excerpts from classic French films.
And of course, there is French property, long a favourite with us Brits. Buying property in France is not just an idyllic dream; it makes very sound business sense too. Whether it’s a hilltop villa, a coastal retreat or a country house ripe for conversion, eagle eyed investors will find an unrivalled selection of property, information and advice at The French Property Exhibition where experts will be giving seminars on making that dream a reality.

Vive la France is open Friday 19 January 10am to 6pm and Saturday 20 and Sunday 21 January from 10am to 5pm. Tickets are on sale now and can be booked on 0870 013 0730 or at vivelafrance.co.uk. Tickets are £8 in advance and £12 on the door; price includes entry to all four shows, including the French Property Exhibition.

 

How the land lies

Cyprus is the third largest and the most easterly island in the Mediterranean Sea. Its nearest neighbours are Turkey 40 miles to the north, Syria 60 miles east, Lebanon 108 miles south-east and Egypt 230 miles south. The 486-mile coastline offers enchanting coves, rocky coast and long golden sandy beaches. The most prominent geographical feature is the northern range of Beşparmak (Five Fingers) Mountains. The fertile north coast is covered with olive and carob trees. The Mesaoria plain, which lies in the centre of the island, is used for the production of cereal crops such as wheat, barley and oats.
The climate is mild and rarely, except upon the mountain peaks, does the temperature drop to freezing. Summers are hot with the highest temperatures and top humidity in July and August. spring and autumn are long and the lovely weather offers gentle breezes.

Nature

The flora of Cyprus is various enough to please everyone, from the visitor who just wants to see valleys full of wild endemic flowers, anemones and orchids to the serious botanist who would like to identify countless specimens during their couple of weeks’ stay.
Although the variety of wild animals in Cyprus is limited, the is the opportunity to see reptiles, insects and a great variety of birds using the island as a stopover for their immigration routes – not surprising as the island is one of the most unpolluted corners of the world. Fish, sea turtles and seashells are also represented.

History

The name Cyprus comes, arguably, from the word ‘copper’, of which there was (and possibly is) an abundance on the island. The island has had a tumultous history, and before its annexation to Rome in 58 BC, Phoenicians, Achaeans, Assyrians, Egyptians and Persians colonized the island. Then came the Byzantines, English during the reign of Richard the Lionheart, Knight Templars, Frankish Rule of the Lusignans, Venetians, Ottomans after the conquest in 1571, and the British Rule between 1878 and 1960. The Republic of Cyprus was established in 1960 but the partnering bodies were in conflict from 1963. In 1974, following a coup d’état against Archbishop Makarios, the President of the Republic, Turkey intervened militarily in order to restore peace on the island , using its right of guarantee according to the 1960 Cyprus Constitution. Since then, Cyprus has remained divided into two states.

Culture

The island is full of historical sites, some dating back to Neolithic Period (5,000 BC). Hellenistic, Roman, Lusignan, Venetian and Ottoman architectural artefacts are very well preserved and all are worth visiting. The best known handicrafts or items of folk art are Lefkara Laces, carpet weaving, wood carving, pottery, and wickerwork. Paintings or handicrafts produced by local artists are also worth collecting. Throughout the year there are festivals for classical and jazz music, theatre, folk dances, which drawinternational celebrities to take part.

Kitchen

The Cypriot culture is well reflected in its kitchen, and the unique Cypriot cuisine combines its strong Turkish roots with Mediterranean and Middle Eastern flavours to create a delicious and original taste. Eating is a national pastime. Cypriots are great meat eaters, thus lamb, beef and chicken are widely used in most main dishes. A typical Turkish Cypriot restaurant, like its Turkish counterparts, traditionally offers a meal that consists of meze (appetizer starters), kebabs (lamb or chicken) or fish, followed by fruit and coffee. Cypriot home cooking is different and is only found in a handful of restaurants.

Hobbies

A wide range of activities available in Northern Cyprus include trekking and hiking, camping, botanic pursuits, bird watching, photo safari, shooting and hunting, horse riding, caving, traditional handicrafts, go-karting, sports, paragliding, scuba diving and many others to be added.

Alan Everitt from Online-Landlord explores Royal Lake

Royal Lake, the new Anglo Cyprus Developments project in Northern Cyprus, is situated close to the glorious coastline and its white sandy beaches and yet is nestled below exquisite mountains and countryside. This location enjoys more than 300 days of sunshine per year, with long hot summers and short mild winters. All this, plus delicious food and so much more, is sure to make Royal Lake one of Europe’s most sought-after holiday destinations.
 
With summer weather starting as early as April and continuing into November, and rain rarely seen during this period, Northern Cyprus is a sun lover’s paradise. Often referred to as a Garden of Eden, this magical island is steeped in history and rich in culture, architecture, archaeology, wildlife, fauna and flora. Its crystal clear sea waters and hundreds of miles of natural coastline, its untouched beaches and hidden coves, its unpolluted air and warm and hospitable people make this former British colony one of the last unspoilt havens in the Mediterranean.

At less than four-and-a-half hours’ flying time from the UK, Northern Cyprus will soon be the location of choice for holidaymakers and property investors alike.
Kyrenia, a few minutes’ drive from Royal Lake, has history dating back 6,000 years, with a charming yet unspoilt harbour and quaint waterfront restaurants that offer both local and international cuisine with plenty of live music. It has become a year-round destination for both locals and tourists alike.
Nicosia, 20 minutes from Royal Lake, is the capital and commercial centre of the island. Although dating back thousands of years with many well preserved archaeological sites scattered throughout the centre, it is a bustling city with wonderful shopping, restaurants and cafés all interwoven within the ancient Roman city. It is a fascinating destination.

For those who are more adventurous, the island’s remarkable terrain and geographical location provide a host of activities. You’ll find year-round water sports – including scuba diving, sailing, water-skiing, deep sea fishing and pleasure cruising – as well as land activities such as golf (the closest 18-hole is just 2km from Royal Lake) go-karting, cycling, paragliding, caving and trekking. There is even skiing on the Troodos mountains during the short winter months.
A rich diversity of flora and fauna and some outstanding nature locations, including Guzelyurt (Morphou) to the west and the Karpaz peninsula to the east, offer unrivalled opportunities for bird watching and botanical observation and invite one to take long rambles on foot or horseback. There are several riding schools close to Royal Lake with a range of equestrian activities on offer, from treks through the countryside to invigorating beach gallops.

Whatever your preference, the superb year-round climate means that Northern Cyprus is perfect - not just for an extensive range activities as a sound investment as well.

Now is a great time to invest in up-and-coming Bulgaria. We look at some stylish coastal apartments available through agent Bulgarian Living.

Bulgaria is a country that is truly on the brink of something big. Those in search of property for use as a holiday home or investment would do well to have a look at the value on offer. KHG Limited currently has a number of high-quality properties that will wow today’s buyer.
The country has an enviable socio-economic structure and has been one of the strongest performing of the European region, with more than four per cent growth for each of the last five years. It has a thriving democratic political system, an EU-based legal system, one of the lowest operational cost bases in Europe, and low taxation and inflation.

In addition, Bulgaria’s proposed EU membership in 2007 is widely anticipated to further strengthen the political, legal and economic situation while giving it access to 500 million EU customers.
The country also has a well established and growing tourism industry. Direct flights are increasing with low-cost operators entering the market thanks to a new ‘open skies’ initiative. BA is to start a regular service to Varna in March 2006. This increased access will support the planned growth of six to seven per cent per year for the next decade, as forecast by the World Travel and Tourism Council.
Bulgaria offers excellent topography for tourism, including 225km of beautiful sandy beaches, clean seas and over 1,700 hours of sunshine from May to October. There are over 130 mountain peaks over 2,000 metres, offering excellent walking and skiing – indeed Bulgaria has bid for the Winter Olympics in 2012. Bulgaria has a rich history with many interesting historic and cultural sites. In recent years golf courses have started to appear in the Black Sea resort location. The whole package for sun, ski, golf, culture and nature holidays makes Bulgaria an attractive year-round tourist destination.

Add to this the low cost of living, which means Bulgaria offers very affordable holidays. Ongoing improvements to resorts and infrastructure should further increase its already impressive popularity. Bulgaria was voted in the top ten holiday destinations by Thompson and Thomas Cook and described by First Choice as its ‘star performer’. According to a recent report in the Washington Post Bulgaria is one of the top ten international destinations, alongside the Bahamas!

Bulgaria had over 3.5 million visitors in 2005, a six per cent increase on the previous year. It is also reflected in the €1 billion income Bulgaria received from tourism between January to August 2005 – an increase of over ten per cent on the same period last year.

Buying in Bulgaria is straightforward. The key issue with this is that to own land you must set up a Bulgarian company. This is common practise and very hassle-free and all fees amount to about €600. When buying an apartment a ‘company set-up’ is not required, but to own your share of the freehold a company is needed.

These factors provide a highly favourable environment for property, both in terms of capital growth and rental yield. This is evident in property prices, which have seen increases of over 25 per cent per annum for the last two years – and over 50 per cent per annum within the tourist hotspots.
Those who are interested in finding out more about buying Bulgaria should contact KHG Development Ltd. Their latest development on the beautiful Byala coast offers a starting price of just £27,000. Visit BulgarianLiving.com or call 020 7993 2743.

We look at a couple of desirable buys in this much-loved Adriatic spot.

Croatia has one of the world’s most beautiful coastlines, breathtaking from a plane window and equally impressive up close. This stunning natural resource has come to the attention of a growing number of tourists from around the world, which is why those in the market for either a holiday home or purely an investment property should waste no time in paying this gorgeous stretch of the Adriatic coast a visit.
Avatar International has a vast array of very desirable properties in Croatia. In the lovely peninsula of Istria, the most popular part of Croatia for holidaymakers, Labin is a popular draw for tourists yet is surprisingly unspoilt. The hilltop town is the setting of Mali Kosi, a luxury development of six detached and four semi-detached villas, as well as four apartments and two studio apartments. The development is situated midway between the picturesque hilltop city of Labin, and the popular tourist centre of Rabac – only 5km from each.

Set within a tranquil landscape 250m above sea level, these luxury homes provide spectacular panoramic views of the islands along the Mediterranean coast. There is no-building land in front of this development, meaning that the uninterrupted views are forever guaranteed.

The architecture retains a traditional Istrian style. Internally, properties will include fitted kitchens and bathrooms and open fireplaces to the living areas. All houses are allocated two private parking spaces. The development also benefits from a circular-shaped swimming pool.
Labin is a medieval town in the eastern part of Istria, only 3km from the sea. It is these days known for its numerous galleries and artists. Labin comprises two separate parts: the old town on top of the hill and the more recent settlement, Podlabin. The airport at Pula is a short 45km drive, while Triest airport in Italy is 75km away.
A one bedroom apartment is priced from €78,100, while two-bedroom apartments are priced from €144,788. Two-bedroom villas are priced from €232,322.

Meanwhile, at Novigrad, Marina Marietta is a development of 30 one-, two- and three-bedroom apartments situated in the heart of the city. Novigrad is rich with culture and history. Located just 200m from the coast, Marina Marietta offers outstanding, undisturbed views of the Adriatic. The development also incorporates a 350-berth marina complex which is located next to the apartments. Due for completion in June 2006, the marina will offer an excellent selection of shops and restaurants together with mooring facilities.

All of the apartments are fully fitted with kitchens and bathrooms and some have balconies overlooking the sea. Marina Marietta is only 60km from Triest airport, which is served by Ryanair. Novigrad is currently undergoing a large-scale government-funded regeneration programme to increase tourism in the area.

Novigrad is a friendly town that is proud of its beauty and its rich historical and cultural heritage. All the historical and cultural monuments of Novigrad are open to visitors. There is also an abundance of sports and recreation facilities, from watersports to tennis. There is a good variety of entertainment, including discos and bars, as well as open-air cinema and high class casinos.

In summer, the heart of the town opens into the streets and squares, transforming them into a huge open-air restaurant. At the improvised stalls you can taste grilled fish and traditionally prepared wine.
One bedroom apartments at Maria Marietta are priced from €95,532. For more information about either of these impressive developments contact Avatar International on 0870 728 2827 or visit avatar-international.com.

Overseas buyers should look to Cyprus and Bulgaria this year, says property investment specialist Assetz. With help from its own International Property Investment Tracker, it has identified these countries as the best bets for overseas buyers.
Stuart Law, managing director of Assetz, says, ‘Southern Cyprus is set to become the overseas investment hotspot of 2006, with deposit levels falling to just 15 per cent in many areas for higher income clients and with Swiss Franc mortgages now available with rates of just 3.25 per cent, making borrowing even more affordable.
Bulgaria also looks set to continue its reign as a lucrative long-term investment, with ski resorts delivering year-round rentals and yields of up to 12 per cent – as much as double those in the coastal resorts, says Law. ‘The ski resorts thrive through the summer months, offering activities such as hiking, fishing and mountain biking. The low cost of living (a pint of beer for example, costs 50 pence), new cheap flight routes and world-class ski facilities mean Bulgaria is now providing healthy competition to the French and Austrian ski markets.’ Law points out that Bulgaria is still an emerging market, however, and ‘although investment prospects are strong, the resale market is not guaranteed and investors should exercise caution.’
France and Greece were also singled out as hot overseas investments for 2006.

Spain gets hotter

Buying property in Spain shows is getting more and more popular, according to Hunters Overseas Properties. The agent has seen a ten per cent hike in overseas enquiries over the last month from those looking to buy in Spain, with both relocators and investors eager to purchase in more sunny climes.
Hunters’ statistics have recently been backed up by a London Spanish Tourist office survey which shows that Britons continue to favour the Costa del Sol. Brits are expected to purchase 150,000 Spanish homes within the next three years. In Andalusia alone, British-owned properties amount to some 90,000, and the region saw a 43 per cent increase in British tourists between 2000 and 2004.
Lucy Malec, head of the overseas division at Hunters, says: ‘The rising interest over the last year has been due to the opening up of some areas due to low-cost flights. The recent arrival of Doncaster/Sheffield airport, coupled with improvements and new operators at Leeds, Bradford, Humberside and Teesside means that those in the north of England can now reach their Spanish holiday home in less time than it takes to reach London.’

At the upcoming Dubai Property Show in London you will see why purchasing in paradise makes sense

This month DSL Exhibitions will be bringing together leading Dubai property developers and agents at the Dubai Property Show, the first exhibition of its kind to come to London. The exhibition will be held on 21–22 January at the Novotel London West Hotel in Hammersmith.

Mike Bridge, regional sales director of DSL Exhibitions says, ‘This will be the first time that well known Dubai agents and developers will be showing en masse, exclusively under one roof in a London venue.’
Dubai is a highly sought-after investment opportunity – and according to recent figures released by the Dubai Department of Tourism and Marketing 2,314,338 British travellers flew to Dubai in 2004. Many British investors have been taking advantage of the booming real estate city. Dubai’s plans include: a mega theme park twice the size of Disney World; Mall of Arabia, the world’s biggest shopping mall; the Restless Planet, which houses over 150 animatronic dinosaurs; and even an indoor ski slope in the desert. These ambitious projects will create a first-class resort atmosphere in the region.

‘The real estate sector in Dubai is outstanding. There is an array of projects being built which are without a doubt the best in the world. Furthermore, prices are still very competitive compared with other international resorts; studio apartments start from as little as £45,000 and villas from only £200,000. Dubai is the world’s ultimate investment opportunity at the moment and at the Dubai Property Show, visitors will be able to see for themselves all the lifestyle opportunities in the city, as well as meet the experts who can provide all the information about living and buying real estate in the UAE. This will be an event that consumers can’t afford to miss, bringing Dubai to London for the very first time.’

The show will feature many of the exciting projects in Dubai such as:
Palm Jumeirah Considered to be the world’s most unique island, offering unmatched exclusivity. It provides spectacular homes, world famous waterfront resorts, boutiques, hotels, spas and marinas – all providing a tranquil retreat from the stresses of everyday life. Prices start at £250,000 for apartments and £750,000 for villas.
Dubai Sports City (DSC) The world’s only integrated purpose-designed venue, expected to be completed by 2007. The $2 billion city will host the first Manchester United soccer school outside Europe, a golf course designed by South African star Ernie Els, a David Lloyd tennis school and the first Butch Harmon golf academy outside North America. DSC is being created as one of the star attractions of the mega Dubailand project. Prices start from £65,000.

International City Will have residences, business opportunities and tourist attractions. With a geometry that was inspired by the intricately patterned traditional carpets of the Middle East, it will cover 800 hectare. Once completed, the project will contain studio apartments and one- and two-bedroom apartment units and accommodate over 60,000 residents. Prices start from £45,000.
Jumeirah Beach Residence A seaside development on 2.2 million square feet of vacant land along the Jumeirah Beach coastline, this has the objective of meeting the need for luxurious residential units at an affordable price on freehold basis. It is the last of the beachfront properties, offering a year-round beach resort lifestyle, with beach facilities just an elevator ride away. Prices starting at £150,000.

Properties at the show will cover the vast range of both off-plan and key-ready freehold properties, including villas, town houses, apartments, lofts, studios, water homes, golf resort homes, serviced apartments and many more. If you are looking to buy a holiday home or a property as an investment, or even plan to buy a property to retire to, this two-day show will offer thousands of properties to suit every budget in one of the most exciting holiday destinations in the world. You can even see what lifestyle opportunities are available at the hourly presentation in the shows theatre and check out the finance packages available too.

DSL Exhibitions can arrange suitable finance if needed through an array of recommended lenders, with mortgages being available up to 80 per cent – or you may be considering remortgaging in the UK.
Entry to the exhibition is free. The nearest tube station is Hammersmith and the nearest railway station Kensington Olympia. The hours are 10.30am to 6.30pm on both 21 and 22 January. For further information contact DSL Exhibitions on 0800 043 9878 or visit dubaishows.com.

It is now over three years since Dubai launched its own property market, but this will be the first time anywhere in the world that over 40 of the top Dubai-based developers and agents have all come together to showcase their projects.

With its great all year round climate, fabulous beaches, wonderful restaurants, top-class sporting events and magnificent shopping centres, Dubai is very much a happening city.
Visitors at the show will be able to see all the latest properties and developments currently on offer, and can also meet leading developers with both off-plan and secondary property for investment or personal use. Prices start at £50,000 and there will be properties on offer to suit all budgets.
This is a great way to get all the latest information about the area. There will be a number of free workshops on both days covering lifestyle and legal issues. Learn what it is like to work and life in the city, find out about the healthcare system, how to obtain a resident visa, and get tips on such topics as choosing a school. You will also get information on the best areas to live or own a holiday home in, and both current and future rental potentials – and much more.

A look at an impressive project

A city by itself – that’s one way to describe Dubai Lagoon, an upcoming community set in the charming, tranquil, and luxurious surroundings of new Dubai. Dubai Lagoon will be surrounded by five golf courses, two of which are being designed by golf legend Greg Norman and one by Vijay Singh. Conveniently located within the Dubai Investment Park, it is just 15km from the new upcoming new airport and minutes from two main highways as well as from Dubailand, Dubai Sports City and Dubai Knowledge Village.

Dubai Lagoon, the 3 billion AED high watermark of living is spread over an area of 1.75 million sq ft consisting of 51 buildings with nearly 4,104 apartments. This mammoth project which is targeted towards the middle and higher income segment of the society has witnessed a huge demand with phase one comprising of 21 buildings being completely sold in a short time span of just 54 days. This rapid success is attributed to the revolutionary seven- year financing plan and also because Dubai Lagoon is the first development project to directly target the middle and upper-middle income demographic segment, previously untapped by other developers.
Danial Husain, vice president of Dubai Lagoon said, ‘Being one of the largest private developments in the UAE, we have always leaded the market with revolutionary concepts for customers. Our vision for Dubai Lagoon has always been based on customer needs and requirements which has always attracted buyers, investors and has enhanced our brand name in the construction industry.’
He added, ‘We were the first developer to launch the seven year financing plan, where you only pay 60 per cent and move into your new home. This scheme has now been offered by many developers in Dubai, in simple words we are in a market where we lead and other follow. Every aspect of our project has been designed from a customer’s perspective, from our payment plan to the sapphire lagoon to the commercial offerings, making Dubai Lagoon the best place to call ‘your home in Dubai.’
In addition to well-appointed and good value investment opportunities property buyers can also expect to take advantage of the flexible payment plans which allows the buyer to pay 60 per cent over the initial two years and take possession, with the balance to be paid over the next five years. This makes it economical and affordable to make monthly mortgage payments and own a property rather than paying highly inflated monthly rents. For overseas buyers the apartments are all ownership sub-lease hold title which means that all owners are eligible for family residence visas, subject to UAE immigration rules and regulations.
Danial added, ‘The rapid sale of phase one and two far exceeded our projections and we believe the interest was because of the complete package offered to our buyers. As per our surveys The major attraction, has been the revolutionary financing plan which offers a seven-year financing option allowing purchasers to pay 60 per cent over a 24-month period and the balance over 60 months, in monthly instalments, all at zero per cent interest. The best part of the project is the balance is paid after possession of the apartment, making the purchase even more affordable for customers. Moreover our target audiences have been the middle and upper-middle income segment of the society, a demographic group which has not been catered to in the past. We have achieved soaring success in the past such as phase one of the project, 1752 units, being completely sold out in just 54 days, which stands as a great milestone for our project.’

Dubai Lagoon is a community which is characterised by lush open spaces, stunning walkways and smooth bicycle thoroughfares. The commercial centre will consist of a super market, laundry, world class gym, several swimming pools, sauna, Jacuzzi, squash courts, tennis courts, bowling and mosque which mean residents will have walk able access to all essential facilities within the complex itself.
Moreover the apartments are complete with the finest array of modern amenities - cosy and comfortable, yet elegant and sophisticated. The lagoon itself is fitted with an ozone purification system which will help maintain the sapphire blue colour of the sweet water, which makes it odourless and enjoyable to live around.

Dubai Lagoon is a home you will take immense pride in calling your own and one, which promises an extremely high appreciation value on your investment and is a community you will be proud to call your home.

Five ideas for the overseas buyer

Goa – Braganza World
·    Prices start from £10,508, due for completion February 2010.
·    Beautifully landscaped, spacious gardens with a stunning tropical Olympic sized swimming pool.
·    Positioned close to the famous Vagator & Morjim Turtle beaches north of Baga, Calangute and Candolim.
·    Front and back balconies with amazing views.

Egypt – sunny Lakes
·    Prices start from £25,700.
·    Only minutes away from the heart of Naama Bay, the Sunny Lakes project is designed to ensure maximum privacy without sacrificing comfort or convenience.
·    Eight swimming pools, one of which has artificial waves and one indoor heated pool.
·    Private parking.

Northern Cyprus – Aphrodite Beachfront Village
·    Prices start from £56,950, pre 1974 Turkish title land.
·    This premier holiday village offers quality property on a lovely beach with an unmatched sunset, high-culture amenities and meticulously designed apartments for your relaxation.
·    Semi-Olympic overflow swimming pool, children’s pool, jacuzzi, sauna, massage room, volleyball, tennis courts and indoor gym.
·    Guaranteed buy back plus 12%

Bulgaria – St Georges Lodge (where?)
·    Prices start from €74,555 euros.
·    5 star ski development.
·    70% finance available with staged payments.
·    Located in a beautiful location next to a national reserve.
·    Excellent on site facilities.
·    On site management and concierge service
·    Undergroundparking.
                       
Italy – Le Terraza Holiday Complex (where?)
·    Price start from €38,000 euros, due for completion 2007.
·    1 & 2 bedrooms available with fantastic mountain or sea views.
·    The complex is situated on the high part of Scalea approx. 1km from the town and beach.
·    All the apartments are being refurbished and will come with fully plumbed kitchen and bathroom fitted with sanitary ware.
·    There are also plans for a swimming pool on the complex.

Antigua’s oldest properties, the Great House at Hodges Bay, is being sensitively restored back to its former glory as part of a new residential and hotel development called ‘Elle Antigua’. The former plantation home will be turned into an exclusive five star boutique hotel with 22 luxury residences in the grounds, which are being sold on a buy-to let basis.
 
The home, which dates back to the 17th century, is Antigua’s oldest occupied house and was built by its owner the British General Hodge who ran a sugar and cotton plantation. Built from stones that were originally used as ballast in the ships that arrived frequently from England, the building has many of its original features, such as a giant hearth. Today Hodges Bay, on the north-west coast of Antigua, is one of the most desirable residential districts due to its close proximity to the capital of St Johns and the international airport, both 10 minutes away.
 
The 22 freehold properties will be built in a colonial style using glass to give them a modern twist alongside traditional Caribbean materials, such as wood. They will be situated around two swimming pools, one infinity pool and one freeform pool with rock and water features, in the gardens surrounding the hotel overlooking the Caribbean. They will include two bedroom waterfront cottages with decked verandas and plunge pools, romantic two bedroom country garden cottages and contemporary two and three bedroom townhouses.
 
The hotel and residences will have a 24 hour butler service, with an emphasis on providing ‘a home from home’ experience. Personal touches such as the owners’ and guests’ preferences for music, flowers and magazines will be put in their home prior to their arrival. There will be a health and beauty spa, 50 cover restaurant, a convenience store, juice bar, library and lounge bar also on site.
 
The properties will be sold on a buy-to-let basis with owners guaranteed a minimum 6% p.a return on their investment for two years, with six weeks usage per year.
 
Geoff McClure, Account Director of UK and Ireland marketing agents Premier Resorts says “The mix of old meets new is a unique selling point and very different from anything else in Antigua. When you add the fantastic onsite facilities and butler service, we think Elle Antigua ticks all the boxes.”
 
With its 365 beaches, peaceful natural beauty and old colonial charm, Antigua has always been a popular destination for the British who with 92,500 visiting in 2005 far out-number any other nationalities. There are already daily flights from the UK and as from December 2006 there will be a new weekly budget flight available from the charter airline Excel who are offering prices from £229 economy and £489 business class. This will be particularly attractive to second home owners who may be travelling to Antigua several times a year.
 
The development company is Hodges Bay Estate Ltd, founded by Lanny Smikle and Linda Hillaire.  Lanny has been developing residential property for over 19 years with his early working career spent at the Savoy Hotel covering all aspects of hotel management. He hopes to emulate the Savoy’s elegance and discreet standards of service at Elle Antigua. His partner Linda Hillaire, of Antiguan parentage, is a share holder,
 
The architects are William Saunders Partnership LLP. Founded over 150 years ago, the practice has a wide and varied client base and carries out work in many different sectors, including commercial, leisure, retail, and leisure pools.
Elle Antigua is due for completion by the end of October 2008.
Prices for a 2 bed country garden cottage (1520 sq.ft) start at US$608,000, a 3 bed town house (2582 sq. ft) start at US$581,250 and a 2 bed waterfront cottage (2744 sq. ft) start at US$1,118,000. All prices include fixtures and furnishings.
For further information visit elleantigua.com.

VIVE LA FRANCE

19 – 21 January 2007, London, Olympia

France wrote the book on la joie de vivre and with cultural offerings such as Champagne, Camembert and Coco Chanel, it’s little wonder that a fifth of all Brits wish they were French*.

To celebrate this beautiful and diverse country, Vive la France is coming to London in January. With over 100 exhibitors, the event showcases the very best from this lavish country. From fine wines and gastronomic delights to culture, style and interior design and from a rich variety of travel destinations to a whole host of property, the show gives visitors a taste of France in the heart of London.

Featuring all aspects of French culture and life, Vive la France has four shows within a show. The French Travel & Tourism Show features regional tourist boards - from the favourite and best known regions to the hidden gems of France.

Whether you’re a culture vulture, beach bum or adrenaline junkie you will find something to suit your traveling tastes. At the tourism stage, experts from the major regions including Corsica, Languedoc Roussillon, Limousin, Nord-Pas de Calais, Normandy, and Rhône-Alpes will be on hand to give personal advice and inspirational holiday ideas.

The French Food & Wine Show will ensure that food lovers will not be disappointed. Taste on the Terrace will be serving signature dishes created by some of the most popular French restaurants in Britain such as Brasserie Roux, Club Gascon, Le Gavroche and Le Manoir aux Quat’Saisons and celebrity chefs Raymond Blanc and Jean-Christophe Novelli will be cooking up a storm at the Food Theatre. Elsewhere visitors should prepare their taste buds for a culinary assault with a whole host of fine wine and food tasting to tempt passers by.

The French Lifestyle and Culture Show captures that certain je ne sais quoi which makes French living so desirable. Visitors can brush up on their French or start from scratch at the Language Pavillion whilst fashionistas should head straight to the Fashion Stage where designers will be presenting exclusive previews of their spring/summer collections and for lovers of La Nouvelle Vague TV5 will be showing excerpts from classic French films.

A Year in Provence (or more) may be a classic reverie for many British escapists. But now that growth in the French property market has outstripped the UK in some parts, buying property in France is not just an idyllic dream; it makes very sound business sense too. Whether it’s a hilltop villa, a coastal retreat or a country house ripe for conversion, eagle eyed investors will find an unrivalled selection of property, information and advice at The French Property Exhibition where experts will be giving seminars on making that dream a reality.
   
Explore a corner of France in the heart of London. Getting there is easy by bus, coach, rail or car whether travelling nationally or locally.

Local tube Kensington Olympia is situated directly outside the venue, connecting to the District Line. Kensington Olympia also provides mainline train services from Clapham Junction, Gatwick Airport, Brighton, Watford Junction and Willesden Junction. Park and Ride opportunities are available through Connex, Silverlink and Virgin Rail direct to Kensington Olympia.

Tickets are on sale now and can be booked by calling 0870 013 0730 or visiting the Show website at www.vivelafrance.co.uk. Tickets are £8 in advance and £12 on the door. Ticket price includes entry to all 4 shows including the French Property Exhibition.

The Show will open on Friday 19th from 10:00 – 18:00 and Saturday 20th and Sunday 21st from 10:00-17:00.  For more information visit www.vivelafrance.co.uk.


***NEW PR CONTACTS FOR VIVE LA FRANCE***
For more information, images, interviews of exhibitor details please contact Alex Kapp Jones or Kate Greville at Koan PR on 0161 237 9994 or email alex@koanuk.com

A new rural vineyard estate in Languedoc, Southern France called “Les Jardins de St Benoit” is being launched today in the UK.  The new build development, an extension of the French village of St. Laurent, is being built in a sympathetic style to the existing village properties. Owners will enjoy a share in the ownership of the on-site vineyard and olive grove and can choose to integrate with the local community by participating in the oldest traditions of wine-making and olive pressing.  

Les Jardins de St Benoit is being developed by Garrigae Investissements.  In keeping with the Garrigae vision of integration with the local community the development ‘le quartier de St Benoit’ is designed as an integral part of the local village.  The medieval Gardens of St Benoit, the inspirational focal point of the development are being authentically restored as a natural haven to be enjoyed by villagers and resort residents alike whilst providing a source of local produce.  
 
The ‘quartier’ or village will consist of 141 one and two bedroom townhouses with floor areas extending up to 70 sq.m and 30 three, four and five bedroom villas extending up to 146 sq.m.  Each property will have its own secluded garden and terrace and each villa will have a garden planted with native flowers and a private swimming pool.  On-site facilities include restaurants and terrace bar, indoor and outdoor swimming pools, sporting facilities, shops, children’s club and spa.  All treatments at St Benoit will use natural products developed on site from the fruits, flowers and botanicals of the vineyard, olive grove and shrub garden, which means all products are free of artificial preservatives and perfumes.
 
The wines of St Laurent, especially the local ‘Cellier des Demoiselles’ enjoy a good reputation. As part owners of the vineyard and olive grove, owners become members of the wine making association and have the satisfaction of enjoying their own home produced wine, olive oil, tapenades and table olives.
 
The properties can be bought on an outright freehold or on a freehold leaseback basis. The Garrigae leaseback scheme offers 4 different packages to suit the needs of all buyers on a 9 year index linked lease with a 19.6% VAT rebate.  The ‘Leisure Investment’ offers a gross return of 5.59% (translating as 3% cash and 2.59% personal use credit).  The ‘Pleasure Investment’ offers a gross return of 5.12% (translating as 3.5% cash and 1.62% personal use credit).  The ‘Home from Home’ option (translating as 50% of all net rental return) includes the property in the accommodation pool of the resort with up to 6 months personal use annually, and the ‘Pure Investment’ option for investors looking to ensure the maximum possible cash rental return translates to a net financial return of 4.22%.


Mike Coyle, Sales Director of UK marketing partner Premier Resorts says: “This is a unique opportunity for UK buyers who want the best of both worlds - to enjoy the facilities that one would expect from an international standard resort but also wish to live in an authentic French village.  Additionally the guaranteed rental income of up to 5.59% available through the established French leaseback scheme (as an option when not in use) makes this a very attractive purchase, recognised by the French government.”
 
This property launch comes as the region is emerging as a new hotspot for holiday makers (10 million visitors annually) and offers excellent potential for capital appreciation for property buyers being a competitive alternative to buying in the more expensive neighboring Provencal region.
 
Les Jardins de St Benoit is situated within easy access of six airports within a two hour radius, and is under 30 minutes drive from Carcassonne airport, serviced by budget airline Ryanair from Liverpool, London and Nottingham.  
 
Languedoc has the perfect Mediterranean climate, experiencing over 300 days of sunshine annually and is also appealing in the cooler seasons due to its easy reach of the major European cities of Perpignan (40 minutes), Montpellier (1 hour), Girona (90 minutes), Toulouse (90 minutes) and Barcelona (2 hours). The nearest ski resort in the Pyrenees Mountains is also less than a 90 minute drive away.
 
Les Jardins de St Benoit is being developed by Garrigae Investissements, twice winner of the Bentley Award for Best French Development.  The family behind the business, Cecile Viennet and Miguel Espada, has been established in the area since 1784 and has two successful property developments in southern France under their belt already.  The development will be managed by the sister company Garrigae Hotels & Resorts, led by Patrick Baccheiri previously commercial director of Club Mediterranee and CEO of Club Med Australia and USA.  Patrick has personally been responsible for heading and running more than 20 Club Med villages.
 
Prices, including furniture, start from €205,000 for a 1 bedroom townhouse, €255,000 for a 2 bedroom townhouse and €442,000 for a 3 bedroom villa.
 
For more details contact Premier Resorts on 0208 940 9406 or visit info@premierresorts.co.uk
 

The latest research from MINTEL finds around 800,000 British households (three per cent) now enjoy the benefits of owning a second residence abroad. Over the last two years the number of overseas property owners has increased by a staggering 45 per cent, with 250,000 more households now owning an overseas property than in June 2004.
A further three per cent of households intend to buy a second property overseas in the future and five per cent intend to sell up in the UK and move abroad. This suggests that potentially the dream of owning a property abroad could be a reality for a further two million households.
‘With home ownership in the UK booming it is fitting that British citizens are now looking to export their undoubted passion for housing. Indeed, the last few years have seen a significant increase in the level of interest shown in the overseas property market, as the concept of owning a second residence abroad has become an achievable ambition for an increasing proportion of the population,’ comments Paul Davies, senior finance analyst at MINTEL.

Among those who own, would like to own or have use of a property abroad, Spain proves the most popular destination, with as many as two in five (43 per cent) choosing Spain as a preferred location for a property abroad. The next most popular destination is France, attracting 26 per cent of people, followed by Australia (22 per cent), Italy (21 per cent) and the US (17 per cent). By contrast, only one in 15 (7 per cent) chose Eastern Europe as a preferred location.
‘The research does suggest that the British property buying public still largely need to be convinced about the appeal of newly accessible Eastern European countries,’ comments Davies.

AZURE DEL MAR – WORLD WIDE LAUNCH IN DUBLIN DECEMBER 2ND
SET TO ATTRACT EUROPEAN JET SET

Located above a 65-metre cliff overlooking Bulgaria’s Black Sea, Azure del Mar is set to become one of the most exciting coastal schemes to be found anywhere Europe. The scheme will include an intricate Venetian-style canal system, filled with fresh seawater pumped vertically up the side of the cliff from the sea below. The development will also include a large infinity pool positioned on top of a glass fronted luxury spa and gymnasium which will be cut into the cliff.  A system of glass enclosed lifts will also be installed to transport residents to the beaches below.  Bulgarian Dreams believes that the scheme’s high specification will attract international jet setters from across Europe, who would traditionally buy holiday homes in established Mediterranean destinations in France, Italy or Spain.

The luxury scheme near Balchik, which has drawn influences from the extravagant Arabian resort of Madinat Jumeirah in Dubai, will represent one of the most significant development sites in Bulgaria. At its heart, Azure del Mar will feature a beautiful canal system of fresh seawater leading to all destinations within the vehicle-free scheme. Residents and guests will be transported throughout the resort via frequent water taxis or along multiple pedestrian walkways and bridges, all of which will branch out from the centrally located and aptly named ‘Grand Canal’.

At the end of the Grand Canal, a fresh water Infinity pool will seemingly spill out into the sea and will be serviced by a trendy poolside bar known as Vertigo. Beneath the pool will be a state-of-the-art gym and spa centre which will feature floor-to-ceiling windows providing the ultimate in unobstructed sea views and will offer a wide range of health and fitness facilities and contemporary spa treatments.

The first phase of Azure del Mar will include 135 highly specified apartments and bespoke villas styled with the romance and opulence of old Arabia in mind. Ten unique luxury villas will be set into  the cliff side, and each villa will feature floor-to-ceiling windows providing three storeys of unobstructed sea views. It is anticipated that the villas will become the most sought after coastline properties in Bulgaria.

Canals and pedestrian walkways enclosing private gardens will surround twenty-six luxury duplex villas, set back from the cliff’s edge. Adjacent to the centrally located canals will be eleven highly designed apartment units, each comprising studio, one and two bedroom apartments and penthouses. Each block of just 34 apartments will be designed around a cloistered courtyard and will enjoy the luxury of waterside living and the benefit of private communal pools.     

Robert Jenkin, Director of Bulgarian Dreams, the UK’s leading agent of Bulgarian real estate marketing the development, says; ”We are very excited to launch Azure del Mar as it will be Bulgaria’s first world-class development and the only one of its kind in Europe. This scheme will be impressive to holidaymakers, second homebuyers and investors alike, as it will be unique and unexpected with its old-world Arabian design. While the scheme will be competitively priced due to its Eastern European location, it will be of a calibre associated with developments in places such as the south of France, Italy and Spain.”

In the centre of the scheme, along the banks of the Grand Canal, a number of excellent bars and restaurants will provide many types of superb cuisine and a lively nightlife. Residents and guests will also be able to access, via glass-enclosed lifts, the beach area and jetty which will offer activities ranging from sunbathing and swimming to sailing and water-skiing during the long, hot coastal summers famous in this area of Bulgaria. Close to Azure del Mar are three international 18-hole golf courses. Two Gary Player-designed courses and one designed by Ian Woosnam will satisfy the most discerning of players. The scheme will also feature a lavish hotel situated at the front of the development, and for those with families, a children’s pool with mini aqua park and a nearby mini golf park will be included.

British Airways currently offers direct flights from London’s Gatwick Airport to Varna International Airport, a comfortable 55-minute drive from Azure del Mar. The three and a half hour flights are available four times a week every Monday, Wednesday, Saturday and Sunday making Azure del Mar very easy to get to all year round. As a result of the popularity of Bulgaria, discount airlines are also reporting future flights to the area making travelling to Azure del Mar far more convenient and economical.

Prices for Azure del Mar will start from €49,500 (£33,000) for a waterside studio, €90,000 (£60,000) for a one bedroom apartment and €135,000 (£90,000) for a two bedroom apartment. Large penthouses and villas will be priced from €232,500 (£155,000). For further information on the properties, please contact Bulgarian Dreams on 0800 011 2750 or alternatively visit: www.bulgariandreams.com

Taxation on buying and selling a Spanish property is significantly higher than in the UK. Eddie Parker of Wellers Accountants stresses the importance of understanding these taxes and also gives some useful hints on minimising tax paid, whether the Spanish home is for personal use or investment purposes.

Firstly, when purchasing the property it is important to consider whose name is on the deeds. If the property is for private use, then it is suggested that the purchase is in individual names. Whereas, if the purpose of the purchase is investment it may be better to set up a company.

There also needs to be consideration at the outset of the possible future destination of the property as there are not the same inter-spouse exemptions, such as capital gains and inheritance tax, available on transfers of property situated in Spain as there are in the UK. For example, in the UK, spouses can transfer a property between themselves without paying tax. However, in Spain a Gift Tax would be applied.

If you plan to live in your property, income tax is payable on all income arising in Spain. Separate returns are required for husbands and wives and filing deadlines apply. Taxes are calculated on a calendar year basis, pro rata for the year of acquisition and sale.

If you are renting your property, tax is payable at 25 per cent on the gross amount of rent received before deductions. In the event that the property is not let, there is still a tax on the deemed rental income at the rate of 25 per cent on the real estate tax value of the property.

Other Spanish property taxes include Patrimonio and IBI. Patrimonio is a wealth tax of 25 per cent, which is based on capital assets with the property valued for this purpose at between 0.2 per cent and 2.5 per cent of the real estate property value. Patrimonio is paid on an annual basis. IBI is an annual real estates tax, which is based on the official assessed value of the property. The tax varies from region to region and from property to property.

Capital Gains Tax also applies in Spain. When selling a property to a non-resident purchaser the vendor is required to deduct 5 per cent of the sale price and hand this over to the tax authorities. A calculation is subsequently prepared identifying the capital gain arising (the profit made on the property since its’ purchase), which is dependent on things like improvements and period of ownership. The capital gain is then subject to tax at 35 per cent and in the event that this is less than the 5 per cent retention, then a refund can be obtained or if it is more then a debt may attach to the property. The 35 per cent rate is being challenged in the European Courts as excessive and may be reduced in due course.

If retiring to Spain, it is important to understand how Inheritance Tax works in Spain. It is the recipients of any inheritance that pay the tax and whilst there are small exemptions (personal allowances) for family relationships, i.e. husband to wife and to children etc, these are small (16,000 Euro) in comparison to the UK exemptions. The inheritance tax liability is calculated by determining the asset value, the relationship with the recipient and any personal allowance available. The ‘net’ figure is subject to tax on a sliding scale at rates between 7 per cent and 34 per cent (on values between 8000 and 800,000 Euros). This amount is then multiplied by a minimum of one and a maximum of two, depending on the relationship with the recipient. A husband and wife relationship is subject to the least tax of 1 x the asset value.

Eddie concludes: “It should be noted that although taxes are national, some such as inheritance tax are devolved to the regional governments, where they may in turn modify exemptions. As such regional variations will apply dependent on where the property is sited.

“It should also not be overlooked that overseas income and gains may need to be reflected in UK tax returns although there is credit available under the double taxation agreement”.

Always seek professional advice on this and any other financial matters as this information could be subject to change. To contact Wellers Accountants please call 020 7630 6665 or visit www.wellersaccountants.co.uk.
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DEMAND FOR FRENCH MORTGAGES GROWS AMONG HOLIDAY HOME BUYERS

People buying holiday homes in France, the most popular overseas destination for British second home owners, are increasingly taking out French mortgages rather than buying with cash, reports Assetz Finance.

Traditionally, the majority of British purchasers of French holiday homes to use personally have purchased their property outright, without any loans, using savings, inheritance or equity release on their UK property to finance the purchase. On the contrary, investors buying buy to let apartments or French leaseback properties would rarely consider financing their purchase in this way, intending instead to maximise their returns through the use of bank gearing and a minimal 15-20% deposit.

However, over the last twelve months, Assetz Finance has noted a rise in the number of British holiday home buyers opting for a French mortgage, from approximately 33% in 2005 to 50% in 2006, as people begin to recognise that they are both readily available and easy to use as a viable method of finance.

Katy Hepworth, Overseas Mortgage Manager at Assetz Finance comments:

"In the past French mortgages were less widely available and were renowned for being difficult to secure, meaning most holiday home buyers did not even consider using them and instead struggled to finance a cash purchase from the UK.

"This is no longer the case, however, and a considerable number of British purchasers in France are starting to take advantage of French mortgages which are consistently 1 - 1.5% cheaper than in the UK."

The Euribor base rates used by French lenders range from 3.3 - 3.8%, whereas the Bank of England base rate is currently at 5.0% and expected to continue on its upward trend with a further rise this week. Therefore it is cheaper to borrow money in France to buy a property, than to release equity from a UK home.

A large number of holiday home buyers in France intend to rent the property out for a number of weeks every year. By securing a Euro mortgage that is paid via Euro rental income, if the value of sterling gains against the Euro, only the small amount of equity injected into the purchase (normally 20 - 30%) would lose value in currency terms. However, if the property had been purchased in sterling without a French mortgage, the full purchase price would lose value.

From a tax perspective, mortgage interest can be deducted from any French income tax liability if the property is making rental income, presenting another advantage of using a loan to finance a French property purchase. Furthermore, any outstanding mortgage can be deducted from any French wealth tax liability calculation.

Katy Hepworth continues:

"In the past British people buying holiday homes in France have missed out on low interest rates, tax and currency advantages, often because they are daunted by the language barrier. However, buying with French finance is now a path so well-trodden by investors, that a considerable number of holiday home owners are now following suit and taking advantage of overseas mortgages."

Bansko is the place to go for snow

W hite Fir Valley in Bansko is a five-star apartment development by MSI Developments which, although launched only at the beginning of October, is selling quickly. Of the 199 luxury apartments, fewer than 100 are currently still available.
‘Bansko is the only modern ski resort in Eastern Europe,’ says Tom Holland, director of MSI Developments, ‘and it’s also a year-round resort, so it’s already a popular destination for all Eastern and Western Europeans. With a new gondola opening up more ski runs, the development of Kulino nearby and a new motorway and airport planned, the resort is poised to become a real property hotspot.’

The immediately-popular development features mainly two- and three-bedroom apartments, fully equipped with the latest communications and entertainment systems, and positioned on a prime site to take advantage of the sunshine and spectacular mountain views.
The complex has been designed with the rental market in mind, with generous accommodation, floor-to-ceiling windows and good sized balconies, a concierge service, indoor and outdoor pools, Jacuzzi, Turkish bath and spa, coffee shop, cocktail bar, restaurant, gym, convenience store, children’s playground, babysitting service, crèche and children’s activities.
‘We know the market in Bansko,’ says Holland, ‘which is why we haven’t included any studios in our development. This is a family-oriented resort and we are building apartments to appeal to them.’

As a further benefit to investors, the apartments have a ‘dual lock’ feature which enables conversion of a two-bedroom apartment into a one-bedroom apartment and a studio at the turn of a key. This gives added flexibility for the rental market, further boosting rental potential.
The stylish architecture reflects that of the established European resorts and is designed to maximise the spectacular views surrounding the development. The apartments feature floor-to-ceiling windows and good-sized balconies.
The apartments are of generous size and are offered with a choice of two furniture packages. Kitchens have granite worktops. And when it comes to the latest gadgets for entertainment and work, White Fir Valley is ‘future proofed’ with state-of-the-art iPod-friendly entertainment systems and Wi-Fi throughout, so you can not only have your favourite music all around the apartment but also work from there – if you really must.

Bansko is easily reached in under two hours by fast motorway connection from Sofia International airport. Also, a new airport is due to be completed near Bansko within the next few years and a new motorway, already being built, will further reduce transfer times.
The skiing in Bansko is of high quality and will cater for all levels. The current 65km of runs will be extended up to 200km in coming years with a new gondola and development of the adjacent Kulino area. The ‘black’runs have been designed by Alberto Tomba, while ski champion Marc Giradelli is establishing a €12 million international ski school at the resort.

Prices at White Fir Valley start at €95,695 for a one-bedroom unit, €130,000 for two-bedroom units and three-bedrooms start at €190,000. All apartments have fully fitted kitchens, bathrooms and heating systems.
For more information see whitefirvalley.com.