Overseas - Tuesday, October 02, 2007

Johnny Turner visits two of Portugal’s most prestigious forthcoming golf developments

First impressions about a prospective overseas holiday home or investment are made before the buyer gets to his destination. In fact, getting there – its ease or difficulty – is the first impression. And in the car between two upcoming developments and their respective airports I begin to see how simple, how eminently doable this is. A flight of less than three hours, and a quick, straightforward car journey and there you are.

First, in the Algarve, Oceânico Group is bringing to the market Vilamoura Golf & Gardens, a resort so luxurious, and so thoroughly figured out, that buyers are sure to make a beeline. The emphasis is on golf, but there is much more to it. The properties, for which infrastructure works are to begin by the end of this year, will be an excellent example of the specification and lifestyle options that are perfect for both investing and relaxing.

For golfers, this is heaven. There are presently five courses on the doorstep, recognised as being among the best in Europe – indeed, the Oceânico Victoria course hosts to the PGA Portuguese Masters 2007 to 2009. And as if that weren’t enough variety, two more courses, designed by Nick Faldo and Christy O’Connor Jnr, are to open in autumn next year in a location just 20 minutes away.

The architecture has a Moorish influence, with quiet courtyards, graceful arches, lakes and pools. The 170 acres of landscaped gardens make up 80 per cent of Vilamoura – and, in a move that is characteristic of the care taken over every aspect of the resort, these are created by the renowned garden designer Diarmuid Gavin (see page 32 for more).

Properties at Vilamoura include: two- and three-bedroom apartments with access to communal pools: two- and three-bedroom linked villas with private pools; and four- and five-bedroom villas with private pools and gardens. Prices range start at €485,000 for the apartments and €965,000 for linked villas, while the villas are priced from €2 million to €2.5 million.

Oceânico Prestige is a luxury range of high-spec that come packaged with a luxury lifestyle, including a Home Intelligent System, use of a Sunseeker luxury cruiser, access to an executive car service to and from Faro airport, a choice of four Diarmuid Gavin-designed garden types, and membership of seven world-class golf courses. The fact that many of the British Ryder Cup team have opted for this package says much about the level of lifestyle this plan offers.

In the future, the Vilamoura Beach Club will have a private beach concession to which Vilamoura Golf & Gardens owners will have access. The sea is only a five-minute drive away, giving holidaymakers and owners the choice of a wide range of activities.
Those who buy for investment will have the peace of mind that comes with knowing the property is secure and well managed. Oceânico Resorts & Leisure, the property rental and management division, lets owners get on with their lives without the day-to-day worries that come with running an overseas rental property. The rental service gives holidaymakers a luxury holiday experience, while the owners are provided with a high annual rental return.

Meanwhile, on the Silver Coast, only a 45-minute drive from Lisbon, the Royal Óbidos Spa & Golf Resort will appeal to those in search of golf and the good life. Set in 336 acres of beautiful undulating scenery among pines and eucalyptus trees, this luxurious development will offer a mix of contemporary homes, including two- and three-bedroom apartments and two-, three- and four-bedroom villas.
Golf is a central focus here too, with a premier 18-hole championship golf course designed by the legendary Seve Ballasteros; buyers enjoy membership of the course.

Royal Óbidos is situated 650 metres from the Atlantic coast near Lagoa de Óbidos, a wonderful spot for water sports. Facilities at the resort will include private and communal swimming pools, tennis courts, spa facilities, cycle paths, restaurants and bars, as well as shops and a hotel/conference centre.
Prices start at €365,000 for a two-bedroom lock-off apartment and €945,000 for an exclusive four-bedroom villa. A full launch of Royal Óbidos Spa & Golf Resort will be held at Windlesham Golf Club in Bagshot on 9 October.
For more information on these and other Oceânico Group projects call 0871 990 3388 or visit oceanicodevelopments.com.

With the high profile he has gained from appearances in such programmes as Home Front In The Garden, Diarmuid Gavin has spread the word about good garden design to millions. Now, with his work on the landscape design for the forthcoming Vilamoura Golf & Garden development, he moves garden design to a whole new level.For this project he has explored the Moorish history of the area, taking cues from Islamic design while also letting himself be guided by the character of the land itself. ‘The Islamic word for Paradise is Jidda – garden,’ he says. ‘It’s a magical site, it undulates.’He laughs at the irony of being commissioned to design the gardens of a development that is geared towards golf, when his first job was a not-very-satisfactory stint as a teenage caddy – ‘doing three hours’ work for 50 pence’.But back to the present, and the ancient ideas and shapes that inform his latest project. ‘Islamic gardens are a wonderful thing to with with, and they’re very simple.’ He points out that the afterlife, as portrayed in the Islamic faith, ‘is to live in this wonderful garden with sleet-smelling flowers. That’s what we wanted to create here.’Another consideration is the climate in which he is working, with limited rainfall. His aim at Vilamoura, he says, is ‘to lift it, to create some excitement – and to reduce reliance on water. We work with Portuguese species and other Mediterranean species. We want to lift the game with this one.’He is sourcing crafts from Marrakech, showing particular enthusiasm for a type of Moroccan-made lantern that he hopes to use for this project. ‘The crafts there are second to none. I went there with Lawrence Llewelyn-Bowen for the Home Front programme. He left after two days, said it was boring. But I was transfixed.’There will be planted boundaries but the parts will still be interconnected. ‘We want to create a journey throughout the space. You can stop off at little areas, where you can get away from the kids and read a book.His mixture of curiosity and enthusiasm is childlike, which bodes well for the gardens. ‘This is like a botanic gardens with houses on it – that’s how I see it.’

Amanda Shiel takes a look at some of the finest developments in this picturesque country

Campiglia Marittima, Tuscany

The 8 century Castle of Campiglia (Campiglia Marittima) will be renovated and converted into studio, one- and two- bedroom apartments. All work is being carried out by local artisans, using materials sympathetic to the original construction.
Residents will have full access to an indoor pool and solarium. Located in the small village of Campiglia Marittima, in the Alta Maremma region of Tuscany, the castle itself is surrounded by parkland and has views across the Gulf of Fallonica, looking towards Corsica.
Both Ryanair and British Airways have regular flights from London to Pisa and the Castle of Campiglia is just 50 minutes drive from the airport.
Only two apartments remain, to be completed in the second semester of 2008. Prices start at €500,000. Contact Chesterton International on 0207 201 2070 or visit chesterton.co.uk/international.

Tuscany

Set in the hills between San Vincenzo and Campiglia Marittima in Tuscany, this five-bedroom villa with sea views will feature a large living space, gym, internal swimming pool and an external infinity pool.
The two-storey stand-alone villa is designed using bio-architectural principles – which aim to combine building practices with an understanding of the natural surroundings. The end result is to build developments which are as sustainable and in harmony with the natural environment as possible.
Villa Colle is 50-minutes drive from Pisa airport which is served regularly by flights from the UK. Completion is expected for the end of 2008. Priced at UK £1,500,000. Contact Chesterton International on 0207 201 2070 or visit chesterton.co.uk/international.

Borghini, Tuscany

Located an hour away from Pisa airport in the Tuscan countryside, Villa Borghini was restored from a castle in 1752. This two-story detached villa is currently being renovated and will consist of 500sq m of living space. Views of the countryside are available from the property and there is a large garden to enjoy the outdoors. Some original features such as the wall of the old castle, the classic high ceilings and the brickwork still remain in tact. These features will be retained in the restoration project. Pisa airport is served regularly by flights from the UK. Price upon application.  
Contact Chesterton International on 0207 201 2070 or visit chesterton.co.uk/international.

Le Marche

Located on the Eastern coast with 180 km of Adriatic coastline, this is an agricultural region of mostly unspoilt rolling countryside. Bounded by the magnificent Sibillini Mountains, which form part of the National Park and Nature Reserve, this is a wonderful area in which to live and invest – and coastal property is especially good value.
There is a wide variety of towns and resorts along the coastline, including Fermo, Grottammare and San Benedetto, and the surrounding countryside is dotted with unspoilt, pretty villages where life takes on a restful air.

Current properties include two-bedroom apartments at Rotella, a restored fort, priced at £82,000/€118,000 and a typical Le Marche style house at Massignano, set in three acres, just 3kms from the sea and with sea views. In need of restoration. Priced at £131,000/€190,000.
Contact Casa Ttavella or visit casatravella.com.

Liguria

Colletta di Castelbianco is a beautifully restored 13 century hilltop village set midway between Genoa and Nice. Just 15 minutes away from the sea, the stone built houses and narrow streets combined with a charming little square, patios and garden terraces make it unique.
The original project was to restore the abandoned village with a strong technological angle. Homeowners have come together and taken this hedonistic life style one step further into the 21 century by creating and running a business centre in the village. As a result, a 150sq metre building has been converted, providing two business rooms and bringing cyber heaven via Broadband and the Internet to owners and visitors alike. Already hailed as one of the first high speed e-villages in Europe, the completion of the business centre has now enhanced that characteristic and makes the whole project even more sustainable.

The business centre also provides an opportunity for home owners to rent, out of season, to those who are looking for a break but also need to have constant contact with their businesses, family and friends via telecommunications. The centre is intended to increase the flow to Colletta during winter months and is open to villagers and visitors alike, subject to terms and conditions.

Access to Colletta is via Nice or Genoa, with airports being around 60/90 minutes drive away.
Delightfully renovated homes are currently available, all of which enjoy high speed connection for internet, satellite television and telephone connection to the village switchboard. Owners also benefit from the village’s communal gardens, swimming pool, sauna and summer open air theatre.
Studios are priced from €137,000 (approx £92,549), one-bedrooms from €184,000 (approx £124,300), two-bedrooms from €318,000, (approx £214,823) and three-bedrooms from €416,000 euros, (approx £281,026). Anticipated gross rental return of around four - eight per cent pa.  
Contact Realinvest International on 0207 376 7919 or visit realinvest.co.uk.

Calabria

Italy’s exceptional tax legislation also makes Calabria a tasty investment. The ‘Uso Fruto’ law ensures that property owners don’t fall foul of inheritance tax; while buyers who own their property for more than five years also escape the capital gains tax. The introduction of insurance bonds under Italian law also guarantees 100 per cent return on investment should there be any problems during the development stage, lowering the risk of investment to virtually zero.

Calabria is a land of contrasts with summer temperatures reaching a steamy 40°C in the low lands, whilst temperatures in the mountains fall below zero during winter. This unique location literally means you can ski in the morning and enjoy après-ski beach style, soaking up the Mediterranean sun; perfect for an indecisive couple or family who just can’t agree on a holiday option.
Situated just south of Naples with miles of uninterrupted white sandy beaches and a delicious lifestyle on the doorstep, Jewel of the Sea consists of exceptional beachfront apartments, townhouses and villas. From one- to four-bedrooms, all properties are situated within a gated community, with 24 hour attendants and private parking.
One-bedroom apartments are priced from £59,000. A one-bedroom beachfront hideaway is priced at £77,000.
Contact McLaren Properties on 01543 268333 or visit mclarenproperties.com.  

France: Paris finds new popularity

One result of the credit crunch in the property and financial markets is an upsurge in Paris property. With the US experiencing a major housing market crisis, those in the UK looking for overseas property are increasingly turning to locations with less fraught money climates.
Paris property prices continue to increase at approximately ten to15 per cent per year, depending on the district, and the last five years has seen a dramatic 60 per cent increase in property prices. One development that is likely to strengthen this trend even further is the ‘Sarko effect’ – the stated desire by new French president Nicolas Sarkozy to move the country towards a more property ownership-friendly position.
The favourable borrowing terms and relatively low interest rates, among other factors, gives Paris strong investment potential. Europe’s recent trend towards higher interest rates appears to be at its end, with just one further raise in interest rates this year to 4.25 per cent seen as likely. This compares favourably with the current US rate of 5.25 per cent. (The US Federal Reserve was expected to lower the rate by either a quarter or half of a per cent as we went to press.)
Paris-based property investment specialist VPS-Global has seen a dramatic increase in foreigners investing in France. CEO Pascal Morin believes Paris offers exciting potential for investors. ‘Given the current state of the world economy, investors are opting for more secure, stable and long-term investment opportunities. Investing in France used to be a lifestyle choice. Today we are seeing more and more of our clients choosing France as a pure investment choice, purchasing with no intention for personal occupation.’

Greece: borrowing gets easier

New lending terms from Piraeus Bank London mean investing in Greece is a more realistic prospect for UK buyers. This coincides with an increased willingness on the part of Brits to invest in ever-widening circles, both geographically and culturally – not to mention the improvements to borrowing and buying procedures in many countries.
Although familiar for generations as a much-loved holiday destination, Greece is not among the first locations prospective overseas investors think of. After all, legal procedures, construction methods and building regulations differ widely from those Brits are used to. The financing of an overseas property purchase, like that of domestic property, must be done with the support of a reputable and experienced bank arranging your finances.
Piraeus Bank London’s mortgage is available to UK and Irish residents and ex-pats retaining a UK bank account or credit connection. Mortgage terms run from five to 25 years are available for a minimum investment of €100,000. Loan-to-value requirements are 80 per cent for property and 70 per cent for land.

For investors, Piraeus Bank London offers an interest-only mortgage for up to ten years on property and five years on land. This allows savvy investors to maximize on potential gains from a property whether they are looking to flip an off-plan purchase on completion or take advantage of the huge demand for rental property by letting it.
For more information on obtaining your Greek mortgage contact Piraeus Bank London on 0845 603 6538 or visit piraeusbank.co.uk.

Amanda Shiel looks at a variety of overseas developments ideal for investors

Cape Verde 

FM Cape Verde is developing two large resorts on the island of Boavista.
Creola Sands (comprising duplexes and apartments, with configurations ranging between studios, one-, two- and three-bedrooms) is located on the sea with a beachfront site on Cabral Beach while Sabi Sands (comprising studios, two- three- and four-bedroom villas and one-, two- and three-bedroom duplexes) is situated on a hillside with views to sand dunes, overlooking an oasis of palm trees and an ocean backdrop.

Both developments offer two outdoor swimming pools, superb restaurants, bars and entertainment areas. There is also a gymnasium, medical facilities and internet cafés, gourmet super markets, children’s park and entertainment areas and terraces overlooking beautifully colourful gardens.
An apartment bought at either Creola Sands or Sabi Sands from the developer would be expected to increase in value by 17 per cent each year. In addition, FM International offers a rental guarantee of five per cent for two years, with the option to leaseback the property after this time.  To ensure private investors receive more than just financial benefits, the guaranteed monthly rental income allows property owners four weeks of the year to enjoy the property themselves.

Properties at Creola Sands range from 84,000 – 355,000 euros. Properties at Sabi Sands are priced from 90,500 – 389,400 euros. For more information call 0131 226 4135 or visit the website sands-capeverde.com.
 
Bulgaria

The Belgravia is a collection of 98 premium apartments situated within the greenbelt of Sofia’s university quarter.

Located between the prestigious area of Lozenets and Sofia’s business district with stunning views of Vitosha Mountain, the private gated complex comprises of studio, one- and two-bedroom apartments. The architecture of The Belgravia reflects the style and character of the surrounding historical buildings in this protected area of Sofia.

Internally, apartments offer efficient and modern living spaces finished to a high specification with the majority benefiting from balconies and private gardens. The scheme boasts a variety of communal facilities including underground parking, gym and sauna, health and beauty salon, restaurant, a concierge service and 24-hour security.

The Belgravia is situated within one of Sofia’s key growth areas, just ten minutes drive to the city centre and five minutes to Sofia’s business district.  
Bulgarian Dreams is currently offering phase two to the international market. Prices at The Belgravia start from €47,700 (£32,000) for a studio apartment. Contact Bulgarian Dreams on 00 44 207 614 1240 or visit  bulgariandreams.com.

Florida

Seven Continent Investment London have launched the Hollywood Grande, a stunning Venetian-style 5-star apart-hotel. Its beachfront location by the newly regenerated, nostalgic Hollywood Boardwalk and historic town centre will help ensure consistently high occupancy levels.  

Prices start from $300,685 with up to 79 per cent financing available. Investors will also benefit from an outstanding condo-hotel scheme which offers seven per cent guaranteed income for the first two years and then 60 per cent of the room rate to the investor for every night the room is occupied.
Investors can also claim 90 days free use of their suite. All hotel suites are available furnished in a Spanish colonial style. Cars can be parked using the robotic car parking system which means that there is no entry to the garage. 
For more information, contact Charlotte Barraclough on 07939 261695 or visit 7cinvest.com.

Montenegro

Property investors looking for a stunning Mediterranean investment, coupled with strong anticipated rental income and capital appreciation, need look no further than Boka Heights in Kotor.
The luxury development is made up of one- and two-bedroom apartments. All offer balconies or patios, with many enjoying uninterrupted views of Kotor Fjord and the nearby town of Perast.
The high quality, modern and open plan properties have been designed in a contemporary style and vary from 50sq m to 80sq m. All apartments will be fully equipped with modern kitchens, bathrooms and air conditioning.

Investors will also be able to enjoy a communal swimming pool set in glorious landscaped gardens, as well as the opportunity to purchase a car parking space for added convenience and rent-ability.
Due for completion in June 2008. Prices start at €147,125. A simple and structured payment plan is in place to ensure investors enjoy a straightforward purchase process
For further information on Mimosa Park, call Emerging Real Estate on 0845 601 7293 or visit    emergingrealestate.com.
 
Turkey

Astrum Towers is a development of studio, one-, two- and three-bedroom apartments located in the Haramidere area of Istanbul and close to the sandy shoreline of Büyükçekmece, a popular weekend getaway for city dwellers. Although well served locally with retail and leisure facilities including a large Carrefour, the city centre can be accessed swiftly by the adjacent Esenyurt-Ambarli connection road making Astrum Towers ideal for business rentals.

The apartments have fitted kitchens, double glazed windows, central heating, television and telephone connections plus fire alarms fitted with sprinklers. On-site facilities include an open-air swimming pool, sports area, sauna, cafeteria and plentiful covered and open parking.

Prices start from just £21,000 for a studio apartment. Favourable payment terms begin with a £2,000 deposit followed by 30 per cent on signing of contract, 30 per cent on completion of shell, 30 per cent on final completion and 10 per cent on transfer of the title deeds scheduled for early 2009.
Call Dream Homes Worldwide UK freephone 0800 0193 847, Ireland freephone 1800 805 006 or 0034 952 908 803 for other international calls, or visit dreamhomesww.com.

Overseas mortgage products

Interest only mortgage available on Bulgarian real estate

Piraeus Bank London, the UK branch of one of Greece’s leading financial institutions, Piraeus Bank, has launched an interest only euro mortgage product on Bulgarian property exclusive to the UK and Bulgaria.
The last few years, especially since EU accession in January 2007, have seen Bulgaria become one of Europe’s most popular real estate investment locations. Over 30,000 Britons have purchased properties already with the majority of those being off-plan investments. The new interest only product for up to 10 years available from Piraeus Bank London will appeal to property buyers looking to maximise their potential financial gains.

Irini Tzortzoglou, head of retail banking, comments, ‘The low property prices in Bulgaria have made the market extremely appealing for investors. Many are buying properties off-plan with a view to obtaining capital gain and rental income from tourism once completed. Offering a finance product which combines a 10 year interest only period and one which takes into account up to 30 per cent of projected rental income is highly exciting for investors.

‘Piraeus Bank is increasingly being recognised in the UK for tailoring its mortgage products to the needs of today’s buyer. The Bulgarian property market is dynamic and fast paced and we strive to ensure that out finance products develop in line with the market.”
piraeusbank.co.uk.

Spanish bank withdraws non-resident mortgage lending

Spanish bank Banesto, part of the Santander group, has recently taken the dramatic step to withdraw all of its own non-resident mortgage lending. The only product it will offer to foreign applicants is a self-certification loan which they are administering on behalf of GMAC.

This news comes just weeks after Caja Mediterraneo (CAM Bank), one of the largest providers of non-resident mortgages in Spain, instructed some of its branches to accept no further non-resident mortgage applications for the time being following a spate of false mortgage applications.
Heather Chambers, director of International Mortgage Solutions Ltd (IMS), Spain’s largest non-resident mortgage broker comments, ‘This is clearly a case of once-bitten-twice-shy for Banesto. It is sad that due to certain unscrupulous brokers supplying false paperwork to the banks in order to push through an application so they can earn their commission, the ethical buying public has to suffer. However, we must applaud this action as it should serve to prevent and dissuade both clients and the brokers involved repeating such practices in the future.’

Heather continues, “It is a fact that as the Spanish mortgage market opens up and further flexibility is offered, including self-certification, the depth of the credit analysis undertaken has also increased. The Spanish banks are tightening up and at IMS we have noticed how pedantic they have become about documentation provided, and quite rightly so. Lenders will also now check liabilities and credit files back in the applicant’s country of residence, something that didn’t take place previously. Scottish Widows, part of the Lloyds TSB group, has taken the extra measure of registering a non-resident loan granted in Spain back in the UK on the client’s credit file. The climate is certainly changing and those practitioners operating on the wrong side of the law will have to clean up or close down.”

India is the place to buy for investors who want a good price and an exotic locale. The market is opening up, and as the commercial future of the country gets brighter and brighter, so will the opportunities for buy-to-let purchasers.In Goa, you will find 60km of silken sands, allowing the perfect place to relax away from the hustle and bustle of daily life. Cooled by sea breezes and surrounded by perfect turquoise waters, Goa is famed for its safe and tranquil beaches. Calangute and Candolim are extremely popular tourist havens, while Baga, to the north, offers a slower pace of life mixed with the convenience of modern hotels, restaurants and bars. In the southern most part of the territory, the Dona Paula, Vagator and Chapora beaches are also worth a visit. David Stanley Redfern Ltd offers investment properties dotted the length and breadth of Goa, including the Braganza World resort, which represents a very economical investment option: in fact, prices start at just £5,520!

The development has claimed a countryside location but remains centrally placed close to the beaches of Baga, Calangute and Candolim. At the other end of the scale, the brand new Goa Raj development sits in the heart of Goa, only minutes away from world-class dining and cosmopolitan nightlife. With prices for luxury four-bedroom villas starting at a still-affordable £63,250, the spacious 159.71 m sq properties are an excellent choice for first-time investors.

 Find out more about these and other Goa properties by visiting davidstanleyredfern.com.Meanwhile, in cosmopolitan Mumbai, Essential Worldwide has taken the gamble out of property investment with a guaranteed rental package at the five-star Green Valley resort. This master-planned development will consist of 2,900 units with an exclusive garden on an expanse of 220 acres, situated away from the hustle and bustle of the city and encased with a lush, leafy haven. Green Valley is a wholly residential project constructed by the same renowned developers responsible for Dubai Sports City. There is a seven per cent rental guarantee of seven per cent of the purchase price per year, offered over five years. Says Tim Tolbert, sales and marketing director of Essential Worldwide, the resort is ‘expected to enjoy high rental demands thanks to the growing economy and increasingly high visitor numbers to India’.The rental guarantee offer also applies at Essential Worldwide’s luxurious Cape Corinth waterfront oasis in subtropical Goa. Set over three floors, the Cape Corinth apartments are finished to the highest standards ready for immediate occupation. Find out more about India property and Essential Worldwide’s guaranteed rental programme at essentialww.com.

Amanda Shiel looks at developments ideally suited to specific purchaser groups

The adventurer - Egypt

Blessed with year-round sunshine as well as a cooling breeze, visitors pour into Sahl Hasheesh 365 days a year. It is rapidly becoming a top destination for wind related sports and scuba diving, and for the golf enthusiasts, eight courses are currently being built.  
One-, two- and three-bedroom apartments are available for purchase, together with two-, three-, four-, five- and seven-bedroom detached villas/palaces. For more information about the Palm Beach Piazza or other developments in Sahl Hasheesh please contact Egypt Revealed on 0845 054 8697 or visit www.egypt-revealed.com.

The luxury lifestyle - Dubai

Al Waha Villas, set amongst lush landscaped gardens in a secure gated community, offers the prestige and glamour associated with Harrods and the sophisticated Dubai lifestyle. For a limited period buyers will be able to purchase a range of two-, three- and four-bedroom villas. All properties include two parking spaces, large balconies and terraces.
Two-bedroom villas priced £242,547, three-bedroom villas from £571,816 and four bedroom villas are available £604,336 (prices dependent on exchange rates). For more information regarding the exclusive Dubai Properties Harrods promotion, call Harrods Estates on 020 7893 8933 or visit harrodsestates.com. Alternatively, visit the promotion at the Harrods store until 31 August.

Holidaymakers who want to buy - Spain

Accountants Ian and Jeanette Brown wanted to find a holiday home where they could relax away from the pressures of work. They found their ideal property at La Heredia de Monte Mayor, in the Andalucia district of Spain, where they have bought a two-bedroom townhouse.
Jeanette, 47, said: ‘I do a lot of travelling with my job – albeit in the UK. The idea of having a base abroad where we could escape for holidays and long weekends began to appeal more and more.’
Ian, 51, and Jeanette visit their townhouse once every five weeks, on average – and as well as proper holidays and they like to take advantage of the long bank holiday weekends at Easter and in May.
‘We don’t rent our house out to other people, but we do take friends and family with us sometimes,’ said Jeanette. ‘For us, we don’t look at the house as a ‘quick buck investment’ – it is just meant to be a holiday home.’
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). Visit www.laperlainternationalliving.com

Investment – Cape Verde   

The Cotton Bay Golf and Resort in the Algodoeiro region on the south-west coast of Sal will have 10 key residential areas - all sympathetically designed to reflect the Cape Verdean culture and personality with an emphasis on open spaces and light.  
Many of the villas in the development will enjoy an enviable front line beach location and will range in size from 120m² to 350m² with two-, three-, four- or five-bedrooms. The one-, two- and three-bedroom apartments and duplexes include gardens and terraces on the ground floor, terraces on the first and second floors and a communal swimming pool.
Prices start at €124,000.
Emerging Real Estate offer a simple and structured payment plan to investors. Contact Emerging Real Estate on 0845 601 7293 or visit emergingrealestate.com.

Retirement – Spain

Costa Tropical enjoys more than 320 days of sunshine a year and in wintertime temperatures rarely fall below 10 degrees centigrade. The area has much to offer retirees, including an excellent health service, good roads and a super infrastructure.  
Apartments can start from as little as €85,000 for a one-bedroom apartment in Coastal Melicena and villas start from €150,000 for a two-bedroom townhouse near Almunecar.
For more details contact Eden Villas on 01382 568 183 or visit edenvillas.co.uk.

Whether you want to relax or indulge in a bit of sport you’ll be spoilt of choice with these developments, says Amanda Shiel.

Ontario, Canada

Red Leaves in Muskoka, Ontario, is one of Canada’s fastest growing property hotspots on the shores of Lakes Rosseau and Muskoka.
All of the properties at Red Leaves are finished to the same exacting standards. Frank Nicholson has been commissioned to complete the interior design of The Rosseau, including all of the communal areas. Each suite will blend traditional Muskoka cottage life with cutting-edge design and technology, including granite counter tops, flat-screen plasma TVs and a fireplace. In addition, all suites come complete with satellite TV, high-speed internet access, towels, kitchen utensils and even a corkscrew!  
The five star resort is the perfect destination for a second home or holiday at any time of year; it is  just 2 hours north of Toronto and offers year-round facilities, entertainment and activities. These include the Nick Faldo-designed championship golf course ‘The Rock’, kayaking, waterskiing, water tubing, cruises and fishing on a mile of waterfront. There are also swimming pools, including an indoor water park, tennis courts, a fitness room, sauna and spa, in addition to hiking, mountain biking and in winter; cross country skiing, snow tubing and snowmobiling in a 700 acre nature reserve. A museum, theatre, marina and four-season village with stunning shops and memorable restaurants are also nearby.   
UK investors at Red Leaves are afforded the same legal safeguards as any Canadian citizen and there is no stamp duty to pay.
Prices range from £143,900 to £473,000. For further information, visit redleavesmuskoka.co.uk or call 0845 130 8768.

Bansko and Pamporovo, Bulgaria

Cedar Lodge III in Bankso is five star scheme consisting of 77 apartments. On-site facilities include an indoor swimming pool, gym, Jacuzzi, sauna, ski-room, 24 hour security, coffee shop and a fully licensed bar and lounge area. Emulating Alpine mountain lodges, each property features wooden balconies with open plan interiors and spectacular views across the Pirin Mountains.
Cedar Heights in nearby Pamporovo is located on a sweeping hillside surrounded by virgin pine forest. The development offers unparalleled on-site facilities, panoramic views across the Rhodopi Mountains and access to the excellent piste and lift system of Pamporovo located under 5 minutes away.
Prices for apartments at Cedar Lodge start at €35,000 (£23,333) for a studio, €59,598 (£41,102) for a one-bedroom and €130,410 (£89,938) for a two-bedroom. Prices at Cedar Heights start from €46,559 (£32,100) for one bedroom apartment. Contact Bulgarian Dreams on 020 7614 1240 or visit bulgariandreams.com.

Mont Tremblant, Canada

Le Grand Lodge is a four-season lakeside resort located in Mont Tremblant and consists of 45 studio, one- and two-bedroom apartments.
Studios will offer two beds, a fully-fitted kitchen, bathroom and a colour TV. One- and two-bedroom apartments include two beds, sofa bed, two fully- fitted bathrooms, a fully-fitted kitchen and a colour TV.
Residents will be able to canoe and kayak in Lac Tremblant and there are six 18-hole award-winning golf courses close by. The resort also boasts a spa with pool, steam room, sauna and gym. The resort is just 75 minutes from Montreal, 90 minutes from Newark and Toronto and 120 minutes from Ottowa.
Prices start at CAD$165,000 (approx. UK£70,815.)
Call Overseas Homesearch on 0800 6520 769 or visit overseashomesearch.co.uk.

Canmore, Canada

Three Sisters Mountain Village is a world-class, four-season alpine resort community covering approximately 2,000 acres of land within the Town of Canmore, Alberta, located in the Bow River Valley at the foot of the Canadian Rockies.

The resort provides 365 days of high-altitude adventure. Residents and visitors can enjoy world-class golf, hiking, biking, fishing and climbing, as well as downhill, heli and Nordic skiing.
Planning is underway for two amenity rich public villages, The Sanctuary at Three Sisters and The Village at Three Sisters, which will provide a range of cafes, restaurants, galleries, shopping, recreational outfitters and luxury spa facilities. The developers creating this community are offering a wide range of properties, including detached family homes, townhouses, ‘lock up and leave’ apartments, and mountain chalets – something for virtually every taste and stage in life. Apartments cost from $580,000 to $2 million CAD (approx £253,126 to £872,850).
Call Newfound Property International 020 8605 9550 or visit newfoundproperty.com  

Chamonix, French Alps

Positioned at the heart of the French Alps, Chamonix has been a favoured Alpine destination for decades. Chamonix has it all: excellent skiing, some of the best walking and cycling and a range of restaurants and bars that can fulfil any après-ski requirement.
The development is designed and constructed by one of the regions most respected developers. The Grosset Janin brothers have been creating dream alpine homes for three generations and Les Chalets de la Tannerie maintains this tradition.

Authentically presented, the development is made up of a chalet of three apartments, a chalet of two apartments and a bespoke stand-alone chalet. Each apartment of two, three or four bedrooms has its own terrace and spectacular views on the Mont Blanc and Aiguille du Midi.
Apartments at Les Chalets de la Tannerie are priced from £638,000. Call Chesterton International on 0207 201 2070 or visit chesterton.co.uk.

Au Coeur de Samoens, French Alps

Part of 'Le Grand Massif', Samoens is a traditional French alpine village that dates back to the 9th Century. With 265km of slopes and activities all year round, Samoens has something to offer all the family.
Situated in the heart of Samoens the development consists of two luxury south facing chalets with views on the Plateaux de Saix. Four two-bedroom apartments and two three-bedroom apartments are available. Each come with underground parking, ski lockers and space for a private sauna.
Priced from £385,000. Call Chesterton International on 0207 201 2070 or visit chesterton.co.uk.

Vicky McElhinney & Nikki Cartmill, BulgariaBest friends Vicky McElhinney, teacher and writer, and Nikki Cartmill, restauranteur and property developer, are two friends who decided to one day leave Northern Ireland and head towards the Balkan mountains following a rumour of properties which could be bought at €2,000 each in a country they had never been to. Leaving their husbands behind, they set off and ended up buying not one but two houses each in Bulgaria, and went on to write a book about their adventures. Here is their story.The BeginningVicky was bored at work when she found a seemingly unbelievable offer of dirt cheap properties in Bulgaria on the internet. Calling her friend Nikki, the pair hopped on a plane to Sofia, leaving their bemused husbands at home. Heading to Veliko Turnovo, the women started house-hunting. Driving through snow-bound countryside, the women describe the scenery as "straight out of a Grimms' Brothers tales.It was in the north central village of Malinovo that the ladies bought houses. Although not the homes they had first seen on the website, they were delighted with the two properties in the hills above the Yantra river. Each property cost €4,100.

Nikki opted for a 1930s single-storey, three-room house set back from the road, with two outhouses and a garden. Vicky's was a two-storey 1940s house on the village green. Shaking hands on the village green, they had made their purchases. Although first attracted by the house prices, the ladies soon fell in love with the country too. Says Vicky, "We weren't about to buy if we didn't like the country. Luckily it is magical, so we did." All it took was another trip to set up limited companies and the properties were theirs.Second HomesOn their next visit, a couple of months later, the women returned to complete the legal formalities and decided to carry on with their spending spree. Buying another house, this time Nikki bought a €14,000 traditional Bulgarian stone-built house in the archtectural reserve and film-set location of 200-year old Staro Stefanavo, a holiday spot for Sofia's rich and famous. Nikki rang her husband on the golf course to tell him the good news. Not to be outdone, Vicky then went home, surfed the internet and bought a 200-year-old cottage in the hamlet of Bulgarene, near Lovech, for €3,000.Having added a wet-room, septic tank, had new flooring installed and old ceilings restored, both Vicky and Nikki adore their new houses right on the Stara Planina, in the Balkans.

They stay there with husbands and various friends and relatives forextended stays. Says Nikki, "We have lovely views wherever you look, friendly neighbours and dirt cheap food and wine. The worst bits are the unbearable humidity in August coupled with water being cut off, flies and having to go back to England."Although there are ex-pat communities in nearby villages, the pair try to mix in the immediate community. Says Nikki, "Language is the biggest difficulty for us. But newcomers are made very welcome. We are, after all, great entertainment value." Vicky has had such a good time, in fact, that she has written a book about her experiences, called The Big Bulgarian Adventure, writing under the pseudonym Sue Seddon. Bulgaria is becoming increasingly popular, with more and more Britons looking to buy property abroad. The girls feel the area is great for buying a second home. "It's still really cheap," says Vicky, "and will go up again when buying land is easier." So will they be looking at any more houses? "We'll stop at the two each for now!" comes the answer.

Property PalsThe pair are now Property Pals and use their experience and now extensive local knowledge to hand hold others through what can be a very frustrating purchasing process. Says Nikki, "We have many local contacts such as reliable, honest and thorough builders and a good, helpful translator. We also have a good knowledge of local suppliers, where to eat and shop, entertainment, sightseeing, spas and ski slopes nearby."
Hugo Raymond, Founder of myPropertyPal.com says, "We are delighted to welcome Vicky and Nikki to MyPropertyPal.com to look after inland Bulgaria. They will indeed complement the strong service facility being provided by PropertyPal Budge in the south, and their combined experience ensures MyPropertyPal.com will offer the best Bulgarian information available on the World Wide Web."

See mypropertypal.com  

Cuenca – A Great Place To Hang Out    

You’ve probably heard of the hanging gardens of Babylon, but have you heard of the hanging houses of Cuenca?

About 140km south east of Madrid and north west of Valencia lies the historic city of Cuenca. Designated a UNESCO World Heritage site for its wealth of monuments, it is best known for its nationally famous “casas colgadas” or hanging houses.

Originally built in the 14th century, these four houses literally hang on the edge of a cliff, overlooking the river Huécar gorge. In fact the name of the city might originate from the Latin “conca” meaning “river basin” which refers to the canyon made by the rivers Júcar and Huécar.

The walled city incorporates a variety of styles and periods, including the 12th century cathedral, convents from the 16th to 18th centuries, the ruins of a Moorish castle, the ancient Kunka fortress and mediaeval cobbled streets.

30km outside the city, the Cuenca Mountains are home to a series of bizarrely shaped rock formations known as the Enchanted City. Wind and water have eroded the huge limestone rocks into shapes which resemble animals, objects and human figures.

Besides the unusual and historic, the province now has another string to its bow. According to the latest Spanish House Price Index from Kyero.com, Cuenca is now the least expensive Spanish province in which to buy property. With the average property price being a mere €41,000, 84% below the national average of €250,000, Cuenca certainly offers value for money.

Martin Dell, MD of Kyero.com, comments, “Cuenca province is ideal for those looking for Spain’s best kept secret. The region has been virtually untouched by tourism and still retains its authentic Spanish charm. Properties available here are mostly in need of renovation giving the purchasers the ideal opportunity to create their perfect home in the sun. We at Kyero.com are receiving more and more enquiries for properties in Cuenca and expect the bargain prices not to last for long, especially as tourists are being attracted to the Villar de Olalla Golf Club, 5km outside Cuenca city, and the new casino and leisure complex due to open in 2008 in Castilla-La Mancha.”

For more information about properties available in Cuenca, visit www.kyero.com

Desert Spring, At Almanzora, Almeria, Spain    

Desert Springs Golf Resort in Almanzora, Almeria has been featured heavily on the overseas property portal www.property-abroad.com as a result of a successful awareness trip to the resort in July 2007.

"Desert Springs - a fabulous golf resort set amongst rugged desert lanscape yet filled with lush vegetation and the beautiful emerald green fairways of the 72 par international championship Indiana golf course. A golfers paradise in the middle of an oasis that is Almanzora."

Desert Springs Golf Property - apartments, townhouses, country cottages, villas and country homes - a choice of suitable properties and lifestyles to suit all budgets. Golf and leisure facilities compliment the properties on show and property management and rental facilities are available from within the resort.

An all year round golfing facility with quality properties not too far from the beach. Property owners include renowned athletes and sports stars keen to enjoy the resorts facilities.

The resort also features Europe’s only world class championship desert golf course, the stunning, 72 par, USGA specification championship desert Indiana course provides a unique golfing experience. What’s more its Golf Academy has unsurpassed facilities to help golfers to improve all aspects of their game; after all this was the Overseas Home of The English Golf Union and is the current home of the Welsh Ladies Golf Union.

The Sierra Club provides tennis, paddle, beach volleyball, a superbly equipped aerobic gymnasium, jogging and trim trails, mountain biking and football. This is the Spanish Home of double Olympic Champion and resort resident, Daley Thompson’s, “Daley Training” Fitness Programme.

All sorts of other activities are available locally; trail riding, horse riding lessons, cricket coaching, sailing, diving, snorkelling, fishing, caving and off-road driving.

Property-Abroad.com will be featuring the development long term in line with its future growth and encourages potential investors to look closely at some of the exceptional opportunities on offer.

Since joining the EU interest in Bulgaria has soared. Amanda Shiel takes at look at what’s on offer in this picturesque country

Case Study
 
After Vicky McElhinney found a seemingly unbelievable offer of cheap properties in Bulgaria online, she promptly called her best friend Nikki Cartmill. Wanting to investigate further, the pair hopped on a plane to Sofia leaving their bemused husbands at home in Northern Ireland.
Driving through the snow-bound countryside, they headed towards Veliko Turnovo were they started house-hunting. They both found houses in the north central village of Malinovo and although they were not the homes they had initially seen on the website, they were delighted with their purchases. Cartmill opted for a 1930s single-storey, three-room house set back from the road, with two outhouses and a garden. McElhinney’s was a two-storey 1940s house on the village green. Although first attracted by the house prices (both cost €4,100), the ladies soon fell in love with the country. McElhinney comments: ‘We weren't about to buy if we didn't like the country. Luckily it’s magical here, so we did.’
They visited again a couple of months later to complete the legal formalities on their house purchases and decided to carry on with their spending spree. This time Cartmill bought a €14,000 traditional Bulgarian stone-built house in Staro Stefanavo, a holiday spot for Sofia's rich and famous. Not to be outdone, McElhinney went home to Northern Ireland and bought a 200-year-old cottage in the hamlet of Bulgarene, near Lovech, for €3,000 that she found on the internet.Both McElhinney and Cartmill adore their new houses in the Balkans. Cartmill said, ‘We have lovely views wherever you look, friendly neighbours and dirt cheap food and wine.’
Although there are ex-pat communities in nearby villages, the pair try to mix in the immediate community. ‘Language is the biggest difficulty for us,’ says Cartmill. ‘But newcomers are made very welcome.’
Bulgaria is becoming increasingly popular and McElhinney and Cartmill feel the area is great for buying a second home. ‘It's still really cheap,’ comments McElhinney who had such a good experience in Bulgaria that she has written a book called The Big Bulgarian Adventure (written under  pseudonym Sue Seddon).
And do they have plans to buy anymore homes? ‘We’ll leave it at two for now,’ they say.
The Big Bulgarian Adventure is on sale at £9.50; email vicky@mypropertypal.com to order a copy. See mypropertypal.com for further information about Bulgaria

Central Planina

SimpliBulgaria’s Geshaview ruro-treat in Central Planina (near the ancient capital of Veliko Tarnova) is a unique development consisting of 147 luxury five star properties.
Featuring a mix of detached houses, apartments, mews homes and townhouses, Geshaview has stunning views and offers a huge variety of sporting facilities including climbing, riding and sky diving. There will also be a hotel, bars, craft studios, shops, an art gallery, organic restaurants, a natural swimming pool, health centre and spa facility with secluded woodland jacuzzis.  
Local tourist attractions include the Roman ruins, Nikopolis Adistrum;  the Central Balkan National Park and the Dryanova Monastery.  Nearby Gorna airport should soon be accepting international flights, including those from low cost carriers – the current nearest options being either Varna or Sofia.
Geshaview studio apartments start at £32,000 and town houses and mews homes cost from £85,000. Due for completion in 2008.
Contact SimpliBulgaria on  0114 252 5060 or see SimpliBulgaria.com.

Balchik

Windows to Paradise is a select development of studios, one- and two-bedroom apartments and penthouses. Situated on the Black Sea Coast at Balchik, the development is located on a stepped site directly overlooking the sea and sits adjacent to one of the Gary Player courses. The facilities at the scheme include several outdoor swimming pools, full spa centre with indoor pool, steam bath, sauna, Jacuzzi and children’s pool. Set within landscaped botanical gardens, the scheme also features a restaurant and fully licensed bar, shops, a supermarket and a wine cellar.
Prices at phase three start from €38,546.63 (£26,583.88) for a studio apartment, €57,902.13 (£39,932.50) for a one-bedroom apartment and €81,769.50 (£56,392.76) for a two-bedroom apartment.  For further sales information contact Bulgarian Dreams on 020 7614 1240 or visit bulgariandreams.com.

Tankovo

Located near the village of Tankovo, Tankovo Mews provides a traditional style Bulgarian home with the quality and safety of 21st Century living on the outskirts of the cosmopolitan resort of Sunny Beach and medieval town of Nessebar.
Tankovo Mews provides a village setting in a courtyard house concept, with a communal swimming pool and public pavilion.  The Kableshkovo Golf and entertainment complex - an exclusive development featuring a prestigious 18 hole golf course with swimming pools, a horse-back riding track, tennis courts, a casino, a soccer pitch and polo grounds, is under development 3km away.
Available properties include four-bedroom villas with heated swimming pool priced from £159,516, three-bedroom villas with plunge pool priced from £123,958 and two-bedroom villas with Jacuzzi priced from £94,766.
For more details visit buyland.co.uk.

Nessebar

Set on the rolling hills just outside of Nessebar, Nexus provides a village setting in a courtyard house concept with 24-hour security and pedestrianised inner roads, giving a safe haven for the village. The central plaza with its communal swimming pool and public pavilion allow residents the option to socialise with other village residents or stay within their own private villas.
Available properties include four-bedroom villas with heated swimming pool priced from £145,547, three-bedroom villas with plunge pool priced from £119,381, two-bedroom villas with Jacuzzi priced from £102,246, one-bedroom apartments priced from £26,899 and studio apartments priced from £19,669. For more details, visit buyland.co.uk.

Case study 

Pensioners live the high-life in Bulgaria
30,000 Britons already own homes in this country, according to the Bulgarian government. And with UK citizens now able to get their pensions paid in Bulgaria, the number of those living or investing in the country is set to rise.
For 66-year-old Alan Lowe and his wife Carol, 58, from Dundee, it was the ideal choice. They moved to Bulgaria in May 2006, to Kozarevo – about 10kms from a main town – and the price of the property was just £19,500.
Carol says, ‘It’s not a quick and easy decision to leave all the comforts of home, family and friends especially when you are a bit older.
‘But, with a mortgage to pay back home, along with the crippling council tax and expensive electricity and gas bills, it was getting difficult and our pension wouldn’t go far in the UK.’
Alan adds, ‘Money had to be the deciding factor and Bulgaria is the country which met our limited pension budget.
“The price of the house included all costs – solicitors, notary, translation of the documents and so on was all included in the price and renovation is going to cost money but it’s affordable.’
Case study courtesy of Quest Bulgaria

Airline announces flights to Sofia

Easyjet will be offering direct, scheduled flights from Gatwick to Sofia, Bulgaria from 6 November 2007. Flights from the major no-frills airline are expected to prompt other low-costs carriers to follow suit encouraging increased travel to the country.
Easyjet will fly three times per week from London Gatwick to Sofia on Tuesdays, Thursdays and Saturdays. The average prices for a return trip in November is just over £50 per person including taxes and charges.
Robert Jenkin, managing director of UK estate agent Bulgarian Dreams, is thrilled by the announcement and comments: ‘The increase in direct flights to Bulgaria is a testament to the country’s ongoing popularity and proven investment – something we have been keen to see implemented since we first began operating in Bulgaria in 2002. Bulgaria offers some of the best value for money in Europe – particularly after joining the EU in January 2007.’