Overseas - Friday, January 25, 2008

Spain is ever-popular, and it is easy to see why. Johnny Turner takes a look at the properties – and the current property issues – that buyers will find when exploring this holiday and investment favourite

Spain is eternally popular for a hundred reasons. Foremost is its each accessibility from the UK: with a flight of just two hours or so you can be in another world. Also, there is the ability to be in an environment that is the opposite of dear old Blighty: sun, beautiful light, a relaxed pace of life. Add in the culture, the food – everything about Spain says, slow down, don’t worry, have fun.
And what’s good for the tourist is good for the investor. Those in the market for the perfect overseas buy-to-let will find plenty to love in España. In the development of Arana de Mijas (see also The family that golfs together, right) is a superb development of apartments that offers all purchasers a guaranteed rental of five per cent per annum for two years from completion.
With its contemporary architectural style, homes at Arana de Mijas are spacious, equipped with the latest mod cons and green features. Modern construction techniques ensure energy efficiency, salt water systems are used in the communal swimming pools, the attractive landscaped gardens are lovingly planted with native species and a centralized solar energy system is expected to cut individual consumption costs to less than half the usual rate.
Cerrado del Aguila is located at the heart of Mijas’ ‘golf valley’, and there are an additional six golf courses within five minutes of the resort. The famous Hipodromo Costa del Sol racecourse, fun-packed AquaPark, sweeping sandy beaches and tasty seafood restaurants of Mijas are also within easy reach. Málaga International Airport served by both no-frills and no-corners-cut airlines can be accessed by motorway in 15 minutes and the new high speed AVE connects Madrid to Málaga in a rapid two and a half hours.
Prices start at €285,000 for a two bedroom apartment. Contact Duchy Estates on UK freephone 0800 849 8089 or see duchyestates.co.uk.
The Canary Islands is a firm favourite with British holidaymakers, but little has been heard about purchasing property.
This month’s Kyero.com Spanish House Price Index shows that Lanzarote, the fourth largest island, remains the most expensive, with prices averaging €312,000 – 27 per cent above the national average of €245,000.
Fuerteventura, the second largest island, recorded an average price drop of 9.2 per cent in 2007 from €247,500 to €226,750 however prices appear to have picked up with an average price of €250,000, two per cent above the national average.
For bargain hunters, Tenerife, the largest island and home to the co-capital Santa Cruz de Tenerife, has always offered property well below the national average. Last year saw a marked price increase; however, property still remains affordable averaging at €208,000 – that’s 15 per cent below the national average.
Meanwhile, back on the cosmopolitan Costa del Sol, in the foothills of the Sierra Bermeja, is the 900 acre Monte Mayor Golf & Country Club. Spread over two valleys, La Perla International Living’s flagship resort development will feature 135 two-, three- and four-bedroom luxury town houses. Each has a unique design and includes fireplace, double glazing, under-floor heating throughout with individual climate control in each room, garage space and a storage unit.
Town houses start at €695,000 for a two-bed, two-bath property. Villas start at €930,000 for a four-bed, four-bath house. The location is very convenient, with Malaga only a 45-minute drive. Call 00 31 20 589 40 70 or visit laperlainternationalliving.com.
The Huelva area, on the western Costa de la Luz, is not only beautiful and sunny but also much more affordable than many other locations in southern Spain. At Jardines del Guzman you can buy a property for less than €55,000.
Set in the charming white village of Puebla de Guzman, Jardines del Guzman is a boutique development of just 40 apartments and town houses arranged around a typical Andalusian-style plaza. Here you’ll find both rural lifestyle and great access to airports, motorways and beaches.
Jardines del Guzman comprises one- and two-bedroom apartments as well as three-bedroom town houses. All properties have underground parking and storage, while the town houses have suntrap roof terraces. Rustic stoneware covers the floors excepting kitchens and bathrooms which have premium quality tiling. Telephone lines, television and solar energy are all pre-installed for convenience.
Prices start at €54,505 for a one-bedroom apartment, €81,370 for a two bedroom apartment and €131,718 for a three-bedroom town house. Completion is scheduled for November 2009. Non-resident mortgages of up to 80 per cent are available in Spain, subject to status. Contact Titan Properties on 00 34 959 399 982 or visit titan-properties.com.
For those on the other end of the price scale, Unique Living offers a real jewel near Puerto Banús in the Costa del Sol – ideal for those for whom money is no object. This magnificent front-line beach villa with manicured lawns and pool adjacent to the Mediterranean has five bedrooms and six bathrooms, as well as parking for up to eight cars and a double garage.
There are wonderful touches like a double marble staircase, Library and industrial-sized kitchen. The location is close to the golf course and two minutes from San Pedro.
Priced at  £4.69 million (€7,000,000). Contact Unique Living on 0845 430 0185 or visit uniqueliving.com.
In Cogollos, Costa Tropical, Eden Villas offers two-bedroom, two-bathroom luxury apartments at Altos de Agua. This is a wonderful place to get away from it all, with a hillside setting offering stunning views over olive groves. There is a pool, as well as fireplaces, large terraces, private gardens, marble floors, air conditioning and central heating and underground parking.
The location is fabulous, well situated for a range of activities. It’s only 30 minutes to world-class skiing in Sierra Nevada, 15 minutes to beautiful Granada, 25 minutes to the airport and 50 minutes to lovely beaches.
Prices start at €177,000 (approximately £123,122). Visit edenvillas.co.uk for more information.
Also available through Eden Villas are studio apartments at Residencial La Guapa, at Castillo de Banos. Just 1km from the beach and 10km from excellent golfing facilities, this location offers easy access to roads and motorway. Well priced yet offering fabulous views, a swimming pool and gardens, these properties are great for investing in this unspoilt area which is benefiting from carefully planned expansion.
Prices start at just €£56,275 (approximately £80,914). Visit the website as above.
In the beautiful Costa Blanca, Taylor Woodrow de España is offering to pay your mortgage for a year – ideal for this cash-strapped time of year.
The house builder has teamed up with Banco Halifax Hispania to help prospective buyers get over the January blahs. Benefits of the mortgage package, exclusive to Taylor Woodrow de España’s clients, include a reduced arrangement fee of 0.25 per cent (normally one per cent), up to 40 years to repay (subject to age) with interest-only repayments for the first 15 years.
Taylor Woodrow de España has just released a selection of fantastic properties at Lagunas del Sol in Rojales, a charming village which lies at the heart of the Vega Baja region of Alicante.
Offering a collection of 54 two- and three-bedroom terraced town houses, priced from €210,000, Lagunas del Sol is perfect for those looking for a comfortable home in a beautiful setting. As an added incentive, Taylor Woodrow de España will pay purchaser's mortgages for 12 months, interest-only.
Call 0800 012 1020 or go to taylorwoodrow.es.
Golf is king in Spain, of course, and for many buyers a high-quality course is a must. At La Quinta Golf, you will find south-facing two-bedroom, two-bathroom garden apartments within one of the most sought-after residential communities on the Costa del Sol, La Quinta Golf. The property is finished to a superior standard with cream marble floors, a fully fitted kitchen with Bosch appliances and hot and cold air-conditioning. The bright terrace and private garden enjoy plenty of sunshine while the communal pool nestled into landscaped gardens is set against an incredible mountain backdrop. Priced from €360,000. Call UK freephone 0800 849 8089 or see duchyestates.co.uk.

Required reading
Buy in Spain – and stay sane
Anywhere you are thinking of buying, it is crucial to get acquainted with the particular rules and rhythms of that particular market. For prospective investors in Spanish property, recent revelations of overbuilding in certain areas and other potential problems should make you more determined to get all the facts before making such a commitment.
In their new book Buying a House in Spain, property experts Stewart Anderson and Leonne Hall set out to bring the most relevant, up-to-date information to investors. After all, they say, ‘Most risk lies in ignorance.’ Avoiding the snakes and mistakes is the name of the game.
One of a set of new guides, which also include books on France and Italy, this is an indispensable source of information, whether you’re buying a holiday home, planning your retirement or simply making a fresh start in sunnier climes.
The book contains everything you need to find the right property, avoid the pitfalls and save time and money. Avoiding paying too much tax, building your own property, finding the right mortgage and letting your property out – all these are covered.
Buying a House in Spain is published by Crimson and available at £12.99 at crimsonpublishing.co.uk and at good bookshops and online retailers.

On shaky ground?
Following recent developments from the Spanish government involving action being taken to demolish illegally built properties along the Spanish coastline, present-day owners and would-be investors alike are wondering what the future holds for the Costas.
Lino Brydges, head of overseas mortgages at NatWest International Personal Banking, says this action ‘has obviously caused quite a lot of concern for people who own property in Spain’. However, he says, home owners should not panic.
‘Those who are worried should speak to their professional and legal advisers and make sure that all relevant checks were followed when their property was built or purchased to ensure all processes when obtaining their property were legal and carried out correctly.’
Technically any property built close to the shore after 1988, of which there are many thousands, could be earmarked for demolition. While this rule is intended to protect the coastline, which according to Spain’s environment ministry is set to shrink by 15 metres by 2050, Adam Gale, managing director of Costa del Sol estate agent Duchy Estates, is not sure there will be widespread demolition when all is said and done.
‘Whilst I applaud the environmental sentiment and feel that in certain isolated cases the bulldozers should be brought in, I cannot see this widespread demolition taking place for a number of reasons,’ says Gale. ‘For starters, a budget of £5 billion to clear the illegalities of 776 kilometres of coastline is totally unworkable; that figure wouldn’t even touch the sides. For we’re not just talking the cost of the bulldozer here, but also the phenomenal legal bill that would hit the Spanish government.
‘Coastal property owners will not see their life-savings or permanent place of residence razed to the ground without a fight.’ Also, he says, many owners of coastal property will be able to prove they bought in compliance with the law and thus will be in line for compensation – and a lot of it. He cites Alcazaba Beach as an example: ‘At an average market value of 700,000 euros per property that’s a potential €210 million-worth of compensation before the government’s even paid the bulldozer.’

The family that golfs together
Golf fanatics the Harrocks family found just the right environment – and just the right high-quality golfing – they were looking for in the Costa del Sol.
The combination of sea, sun and wonderful golf amenities meant that James and Victoria Harrock – and their two sons under the age of ten – had just the right balance of fun for a young family and the comfortable pursuit of par or under.
The family, from Formby in the North West of England, have just bought a three-bedroom penthouse apartment at Los Cortijos in Mijas.
Mrs Harrocks says, ‘My husband has been a member of the local golf club since the tender age of ten and regularly puts in an appearance to work on his handicap and one by one we’ve all mirrored his interest. I take lessons when I get the chance, although I’m not going to divulge my pitiful handicap, and our boys age nine and five are also very handy with a golf club.
Initially we thought about buying a ski chalet for a second home, as we are also fond of skiing, but we soon realized that year-round sunshine topped our wish list and of course that meant year-round golf.’
Los Cortijos, a residential development of one-, two- and three-bedroom apartments in Mijas, certainly had accessibility on its side. With Liverpool John Lennon Airport on the Harrocks’ doorstep, there is a quick and affordable link via both EasyJet and RyanAir.
Variety is also very important, she explains. ‘Of course our life does not revolve around golf so we need plenty of extra-curricular activities to keep ourselves and the boys interested. Mijas is ideally located for sandy beaches, bars, restaurants and the town even has its own Aquapark, Racecourse and modern shopping centre. Puerto Banús with its swanky yachts and designer boutiques is 15 minutes’ drive to the west and if we don’t fancy leaving the resort we’ve got heated swimming pools, a gymnasium and spa on the doorstep.’
The fact that she has family in Madrid was also a big factor. All in all, the Harrocks family found the perfect location.
Prices start from just €195,000 for a one-bedroom apartment with 25 square metres of terracing, rising to €440,000 for a three bedroom, three bathroom duplex penthouse with a mammoth 40 square metres of terracing.
For further information please contact Lautier on 00 34 916 502 802 or lautier.com.

As the Bill's PC Will Fletcher, he fights crime in Sun Hill. But Gary Lucy's other role is running an international estate agency. Johnny Turner meets up with the actor/businessman

Gary Lucy has learnt a trick that most in the world of entertainment never master: he has retained his normal-ness yet is thoroughly engaging, even charismatic. On a chilly pre-Christmas night at a West End restaurant (not the Ivy) he exhibits no sign of star airs, listens as well as talks and shrugs at showbiz gossip, preferring to talk about more ‘real’ things. He has just finished a 12-hour filming day but is animated and interested as we talk about everything from favourite episodes of Friends to his young family, acting and property.
One thing occupying him is the condition I call School Catchment Area Relocation Yearning (SCARY). With their daughter India Jasmine now two-and-a-half, Gary and his partner Natasha have begun to think about primaries. In his area, he says, the difference between a good school and a less good school is ‘a matter of a few streets.’ This led them to consider a previously owned property that needed a lot of work but they didn’t go through with it in the end. ‘After going through the figures, the margins were too small – no room for error.’ He and Natasha are ‘still looking’, he says. ‘Maybe a little further into the country …’
He is no stranger to the buy-to-let business, having built up a portfolio of new build properties in Greater London: he owns property in Chigwell (his home), Islington, Camden and Wanstead – and has now bought abroad, which proved to be the start of a whole new journey.
His purchase of a property in Santa Ponca, Mallorca not only took him international in terms of ownership – it also led him to set up his own business, Gary Lucy Real Estate. If the old Victor Kiam model of entrepreneurial inspiration has the person liking a product so much he buys the company, there is a parallel voyage of discovery, which was Gary’s experience with his Mallorcan purchase: he hated the product so much he started his own business.
‘My friend and I each bought a place there and we had such bad service.’ He sketches out a scenario of some very un-businesslike practices, in which the buyer is bamboozled and a strange, labyrinthine system of kickbacks and favours operates. The buyer was ill-served by this way of working, and with a glimpse of this Gary had an idea: ‘We thought, why don’t we do it. I’ll put my name to it. The majority of the properties are with one agent. We took on a Mallorca-based agent owned by Mallorcans and said, “You’ve got a pool of properties. We’ll get the English market in and we can work on a commission split.”’
The website now features properties in Europe’s ‘big four’ and is set to expand further. The original focus was on Mallorca, and the site’s success in that market led to an expansion into mainland Spain, as well as Portugal, France and Italy. ‘We wanted to get it working with Mallorca – and it worked very quickly. We’ve got it all set up.’
The Spanish market has hit some bumps in the past year. Has he seen evidence of this? ‘When speaking with agents over there I get the impression there is a slight saturation of re-sale properties in southern Spain – Marbella etc. In my opinion, if you are looking for a property to rent out or spin on to make a quick buck, this may not be the place to invest. If, however, you are looking for a holiday home, now could be a good time to pick up a great deal.’
Property is practically an obsession of his, an offshoot of his love of travel. Italy is a current interest – ‘I’ve seen Venice and Verona’ – and he would like to go there again soon; Australia is another destination he wants to make time to experience. But it is difficult to see how he how he will get there soon, with his packed shooting schedule and his time-consuming work with his property business.
But you can go a long way on enthusiasm, and this he has in spades. He started acting as a teenager, appearing in Grange Hill and Dream Team before landing the high-profile role of Luke in Hollyoaks. It was at this time that a fellow soap actor advised him to put his earnings into property. While building his acting career in the wonderfully ridiculous Footballers’ Wives and in his current stint as PC Will Fletcher on The Bill, he continued to invest in bricks and mortar.
The switch from buy-to-let landlord to proprietor of a property sales business must be quite a shift in gears, though – and now that he’s a father as well, where does he get the time? ‘I’m full-time with The Bill. That’s my main job. But we have a team working with us [at GLRE].’ This may be his moonlighting gig, and he may have support, but he can’t help getting involved in all decisions to do with it. ‘I need to learn to let go – that’s my problem. But I really enjoy it.’
Gary Lucy Real Estate currently has over 10,500 properties on its site, with France and Spain the most well represented. Even more far-flung markets are on the cards. ‘We are currently building relationships with agents and developers in Dubai, Poland and Croatia, so more will follow! We are concentrating on spreading the price range as much as possible to give more options to our clients.’ Vendors can also use the site’s Client Centre to increase their exposure to would-be buyers.
‘We give choice, good service – and that’s it, really. I want to have a one-stop shop, where you’ve got a removals team, landscapers. It will all be on there.’ He checks his phone again. Then he’s off to meet a friend at The Ivy.
Visit garylucyrealestate.com

Flexible, affordable and fun, Bulgaria makes good investment sense – and it is still wowing tourists with its year-round possibilities. Johnny Turner sees some unmissable opportunities

Bulgaria has seen the frenzy of its ‘gold rush’ years and now looks set to settle into a more reasonable level of popularity. With its variety of landscape and its year-round appeal, there is much for both tourists and investment purchasers here.
Besides the undeniable appeal of ski-friendly mountains, Black Sea beaches, historic cities and wonderful culture, Brits in search of property abroad like Bulgaria because prices are so affordable. That is certainly the case in phase two of Galliard Homes’ fully serviced Pirin Spa ski and golf resort development in Bansko, where prices start from as little as €39,995.
Set in the Pirin National Park and referred to as the best new ski resort in Eastern Europe by Italian ski legend Alberto Tomba, Bansko is now a destination of choice for winter sports enthusiasts from a wide range of countries. The ski facilities are equivalent to those in traditional Western European resorts yet at a fraction of the cost, with 65km of pistes and state-of-the-art equipment.
The Pirin Spa Resort will comprise of two adjacent buildings set amid landscaped grounds, with stunning vistas towards Pirin National Park and the surrounding mountain ranges. Completion is scheduled for late 2009.
The resort offers not just top-class skiing but also – amazingly for such a snow-centric climate – year-round golf. A brand new Ian Woosnam signature pro golf course has been designed nearby and keen golfers will be able to continue playing, even when the greens are covered with snow.
A choice of studio, one- and two-bedroom suites are offered. As an added bonus, Galliard is offering either a seven per cent net income guaranteed for two years or a free five-year family ski pass plus furniture pack.
Purchasers can exchange contracts with an initial deposit of only €750 and Galliard will also offer specially reduced-deposit payment terms; in addition, a deposit scheme is available.
Madeleine Flower, sales and marketing director of Galliard Homes, says, ‘There is a huge capacity for investment growth in the Bulgarian property market. The country recently joined the EU, the cost of living is one of the lowest in Europe and the budget airlines are substantially increasing the tourists visiting, thereby increasing the demand for quality accommodation.
‘In addition, the Pirin National Park is UNESCO-protected so there is a limit to the supply of new, quality apartments, further driving up prices.’
For more information contact the sales office on 020 7620 1500 or visit galliardhomes.com. There will also be an exhibition on 26 and 27 January in the Oxford Suite of the London Marriott Hotel, Park Lane from 10am onwards.
Bulgarian Dreams has launch the newest phase at Windows To Paradise, one of the world’s largest fully carbon-neutral new build developments. The development, located in the popular and emerging area of Balchik, is aimed at the increasingly sophisticated visitor to Bulgaria.
Bulgarian Dreams has worked with The CarbonNeutral Company, who assists major companies around the world, to measure, reduce and offset their CO2 emissions. The company has calculated the scheme’s emissions including those from sources such as material lifestyle emissions, site energy consumption, deliveries, site vehicles and waste disposal. Bulgarian Dreams has offset all the development’s emissions during construction and operation of the site by sponsoring a new hydro power station in Bulgaria, making Windows to Paradise fully carbon-efficient.
Windows to Paradise is located on a stunning hillside, offering a select collection of studios, one- and two-bedroom apartments and penthouses. Most of the properties boast beautiful sea views. The facilities at the development include several outdoor swimming pools, full spa centre with indoor pool, steam bath, sauna, Jacuzzi and children’s pool. Set within landscaped botanical gardens, Windows to Paradise also features a restaurant and fully licensed bar, shops and a supermarket.
This exclusive development will also have three international 18-hole golf courses: a Gary Player course located adjacent to Windows to Paradise and two nearby courses, another by Player and one designed by Ian Woosnam. A stunning new yacht marina is also being built nearby, making the area even more desirable.
Bulgaria is a three-hour flight direct from the UK, with two scheduled airlines currently flying to Varna International Airport once a day. The development is just 35 minutes’ drive from the airport, making it wonderfully convenient.
Prices at this phase start at €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. Contact Bulgarian Dreams on 020 7614 1240 or visit bulgariandreams.com
In the lovely Rila Mountains, The Pirinea Hotel Spa and Residence in Banya is a luxurious new development with 147 apartments and an attached 60-room hotel, created by RilaDev, a consortium whose members all have a long track record of creating award-winning superior resort and residential developments in both the UK and overseas.
Terry Roydon, director of RilaDev, says, ‘Pirinea Hotel Spa and Residence is unlike anything previously built in the area – a hotel and apartment complex with outstanding facilities and services. We believe it will be an ideal holiday resort, as well as an excellent investment opportunity. Located close to the ski resort of Bansko and the new Ian Woosnam golf course in Razlog, it offers tourists supreme year-round holiday accommodation.’
Set in over 10,000 sq metres, this is a low-density development located in Its elevated position means that it has stunning views of the mountains and the town of Bansko below. Designed by award winning architects ASA Bulgaria, it mixes traditional materials such as wood and stone with contemporary interiors to create a truly desirable building.
The 147 studio, one- and two- bedroom apartments offers a sumptuous specification including elegant fitted kitchens and bathrooms with integrated Whirlpool appliances, as well as contemporary floor tiling throughout.
Full-height windows and glazed doors open out to balconies on most apartment, creating a bright and airy feel and allow enjoyment of the fabulous views both inside and outside. State-of-the-art windows ensure that heat is retained and there is also an eco-friendly heating system. Each apartment has wi-fi internet access, cable television and a phone line to contact the concierge and reception. Pirinea also has a secure underground car park and there are beautifully landscaped gardens for residents to enjoy.
Banya is renowned for its spas and mineral waters, and all sports are possible in the area. There are excellent ski slopes in Bansko, while the Ian Woosnam-designed golf course is ten minutes away in Razlog. There is also the option of horse riding and mountain biking in the summer.
Prices start at €42,000 (£28,000) for a studio apartment, €70,000 (£50,000) for a one-bedroom apartment and €110,000 (£75,000) for a two-bedroom apartment. For investors who prefer to leave the tenant-finding to others, RilaDev offers a rental package. For further information, please telephone: 020 7795 4435 or visit the website pirinea.co.uk.
Bulgarian Dreams offers The Orchard, Bansko’s most exclusive and chic new development. Located just five minutes’ walk from the resort’s main ski lifts, it offers residents the benefit of Bulgaria’s largest and most luxurious spa complex. Comprising 500 studio, one- and two-bedroom apartments and penthouse, The Orchard also has an on-site cinema and communal ice rink.
Prices at The Orchard start at €42,053 (£29,002) for a studio, €73,557 (£50,725) for a one-bedroom apartment and €123,583 (£85,229) for a two-bedroom apartment.
See bulgariandreams.com for further information.
For those who want a city investment, the culture-rich capital city of Sofia offers many opportunities. With an eye toward developing properties that will appeal to local tenants rather than just holidaymakers, Intrepid Investments has begun marketing a new project called Belgravia. Located in Lozenets, one of Sofia’s business districts, this is a private gated complex of four residential buildings with between 23 and 29 studios and one- and two-bedroom apartments.
The development has three phases of construction, the second of which was started last July. The first phase sold to the local market in just three months. Construction is due for completion in approximately two years, and prices start at £38,229.
Rental yields are pitched in at between five and seven per cent; the average market growth in this area stood at 20 per cent between 2002 and 2006.
Intrepid Investments operates a syndicate club, whose membership is only open to high net worth individuals and sophisticated investors; the joining fee is approximately £500. Qualifying members receive privileged information on Intrepid property investment opportunities. For further information call 0870 161 4511.
The Balkan Jewel in Bansko is a high-specification off-plan development on sale through
Avatar International. It comprises 190 fully-furnished one- and two-bedroom apartments with panoramic views over the stunning Pirin mountain range and the Ian Woosnam designed golf course.
Colliers International, one of the largest property management companies in the world, will supervise all aspects of the operation, management and maintenance of The Balkan Jewel to the standard of a four-star resort. Services will include general maintenance and repairs, professionally organised excursions and, vital for a successful investment, a unique rental scheme in order to maximise return on investment and minimise vacancy periods.
All apartments include parquet flooring and a fully fitted kitchen inclusive of appliances. Facilities include a fitness centre, café, shop, ski storage area and swimming pool. On-site services include 24-hour security, concierge services, cleaning and management of the grounds and facilities.
Bankso is 160 km south of the Bulgarian capital Sofia, about two hours from Sofia Airport. The town has a range of bars, cafés and restaurants offering family-friendly après-ski entertainment.
The Balkan Jewel is due to complete at the end of this year. Prices start at £41,000 for a one-bedroom apartment. For further information contact Avatar International on 0800 035 3537 or visit avatar-bulgaria.com.
Kavarna is creating a new wave of interest for property in Bulgaria, with Kavarna Bay in particular being developed with exclusivity and high quality in mind. Located on the northern tip of the Black Sea coastline, this location not only caters for the sun-sea-sand traveller but also the yachtsman, the golfer and the fishing enthusiast.
Over the last few months Kavarna, as a resort, has begun to transform into one of the most attractive destinations for property investment and development. With only a 30 minute transfer time from Varna international airport and 38km from Romania, this is sure to become a popular playground for the tourist market.
The area will benefit from a proposed €15 million development of Bulgaria’s FIA-approved Formula One racing complex. Also, two Gary Player-designed golf courses are currently under construction, one of which will be in the top five largest in the world. These, once completed, are bound to have a very positive effect on property values and rental yields.
Here Obelisk International offers the Kavarna Bay Resort, an exclusive 697-unit development with studio, one-, two and three-bedroom apartments each offering unparalleled south-facing views of the Black Sea. There are extensive on-site facilities.
The price of an average apartment is €132,917 – this is 26 per cent below market value. Further, up to 60 per cent mortgage is available. For more information on investing in Bulgaria or the Kavarna Bay Resort call Obelisk on 0808 1600670 or visit obeliskinternational.com.

Mortgage maze
Borrowing is different in Bulgaria

In Bulgaria, the British buyer is leading a new phenomenon, the overseas buy to let, made possible by the availability of mortgage finance, according to specialist property company the SimpliGroup.
One of the Group’s companies, SimpliBulgaria, is successfully finding buyers for its wellbeing village Geshaview in central Bulgaria, as well as in other areas – and many of the buyers here are looking for buy-to-lets rather than to live there themselves.
Chris Downham, managing director of the SimpliGroup, says, ‘As we have quickly become a nation of property investors, people are no longer happy with just a place in the sun. They now want that place to make them money. This has led to increased sales of holiday homes and investment properties in Bulgaria and other eastern European countries where the market is experiencing capital growth.’
Two years ago, SimpliGroup’s Bulgarian Home Loans company opened up the Bulgarian mortgage market to foreigners and since then has submitted almost 2,000 mortgage applications to a number of Bulgarian banks.
Downham says, ‘Working in emerging European markets is not easy as the banking system isn’t as developed. However, we now have ten banks that will lend to UK residents investing in Bulgaria and this competition is resulting in improved service and more innovative products.’
One recommendation from Bulgarian Home Loans is that buyers should not always wait until effective mortgage finance becomes available before they
purchase, as the provision of such finance itself creates capital appreciation. It could be worth buying in cash in lesser developed finance markets and then releasing this equity via a mortgage when the correct mortgage becomes available.
The availability of finance to foreigners usually goes hand in hand with mortgage improvements for the local population, and in the end it is their buying power that leads to sustainable price growth in overseas locations. But UK buyers must realise that the offerings in emerging markets are not going to be as quick and easy as those in the UK.
The long term vision of the SimpliGroup is to provide finance to all EU citizens, regardless of which EU country they buy in, via a single lending solution.
Find out more about SimpliBulgaria’s development Geshaview by calling 0114 250 6171. Contact Bulgarian Home Loans on 0845 456 7148 or visit bulgarianhomeloans.com.

Brazil is blessed with some of the world’s most beautiful beaches and breathtaking forests, along with its insane mega-cities and vibrant culture. And now the country is set to be equated with oil wealth, following the world’s largest ever deep-water oil find, 250km offshore from Rio de Janeiro. Other large discoveries in the Campos and Espirito Santo basins off the south eastern coasts followed shortly after, which signals the arrival of a new era of prosperity. And this bodes well for the Brazilian property market.

The most significant increase in prosperity is expected to be seen in the North East of the country – and property investment is sure to be a big part of that.

Brazil has been popping up more and more in the property pages as development has increased, and experts say now is the time to buy into what looks likely to be quite a boom.

One development that is seeing interest from international buyers is uv10. The new scheme, located in Pipa, in the Natal region, offers luxurious Italian-designed villas in a relaxed and stylish village. This setting is considered to be the jewel in the crown of Brazil’s up-and-coming North East.
Here you’ll find Domus Villas, high-quality properties in an enviable position at the very edge of Pipa’s famous Chapado. There is ocean on two sides and private access to the endless beaches. Samantha Gore of uv10 says, ‘In my opinion this is possibly the best plot of land in the whole of Pipa, elevated with turquoise sea all around.’

Prices start from as little as £146,000 for a two-bedroom property, while £174,000 will get you a three-bedroom villa. Rental potential is on the up and smart buyers are getting their skates on.
For more information on uv10, and Brazil property investment generally, visit uv10.com or call 0845 643 1036.

Beautiful Bahía is an amazingly rich centre of culture with a wonderful climate, Colonial beauty and a fabulous mix of African and Portuguese heritage. Here you will find hundreds of miles of semi-virgin coastline dotted with lovely islands – an utterly perfect setting. Tourists are wild about the area, and it is easy to see why.

Here, too, uv10 is set to begin selling luxury properties on its very own 1,100-hectare private island just off the coast of Salvador. The setting will feature five-star hotels, golf courses, marinas, shopping, spa, restaurants and diving school. This is sure to be one of the leading luxury holiday resorts in the world.

Visit uv10.com to keep up with sales releases as they happen.

In Tabatinga, around 30 minutes south of Natal, Le Park offers a Brazilian take on New York’s 1970s loft scene – with a maritime twist.

Loft Living descended from the iron-framed buildings erected at the turn of the 20th century to accommodate sweat-shop style workhouses. Set right on the beach at the capital of Brazil’s north eastern state of Rio Grande do Norte, these apartments have a contemporary open-plan feel and 3.8 metre high ceilings for a bright and airy atmosphere. This chic modernity is offset perfectly by the stunning sea views and laid-back Brazilian beach life to be found just metres from your front door.

Comprising 28 apartments ranging between a generous 87 and 100 square metres, along with 32 top-floor lofts ranging between 160 and 200 square metres, Le Park is both compact and exclusive. The lofts boast enormous private rooftop solariums complete with their own rooftop pools – sheer decadence.

Facilities include a fitness centre, swimming pool with swim-up bar, restaurant , spa and sauna, business centre with broadband internet access, children’s club, watersports, tropical gardens and 24-hour supervised entry.

Tabatinga is an idyllic setting. The resort has two aquaparks set close to the sea, ideal for families, and no less than five attractive beach lagoons backed by coconut palms and protected by a 7km coral reef making for safe swimming conditions. Nearby Pipa is extremely popular with wealthy Brazilians for its nightlife, with 30 or more restaurants and selection of upmarket boutique hotels. The international airport of Augusto Severo is a convenient 30-minute drive away.

Two-bedroom apartments at Le Park start at €139,500 and two bedroom loft apartments from €210,000 (subject to exchange rates). Completion is scheduled for September 2009.
Contact GEM Estates on 0800 036 0068 or visit gem-estates.com.

Natal is increasingly, long regarded as a vacation destination for Brazilians, is experiencing something of a land rush. In just six weeks, 73 properties have been sold to British clients at Elegance Natal Golf by Resort Group.

Prices in the area compare very favourably with those in Europe, with €89,000 buying a two-bedroom apartment in Natal compared with €285,000 to buy a similar property on the Spanish Costa de la Luz.
Those who have been wowed by the properties include the jet set: footballer Ronaldo and actor Antonio Banderas will both own properties at the resort.

Elegance Natal Miltonia, the first phase at Grand Natal Golf, is part of a 5,500-acre resort development by established Spanish developer Grupo Sanchez. The one-, two- and three-bedroom apartments and two- and three-bedroom penthouses are being sold exclusively by Resort Group International. Prices start at €58,000 for a one-bedroom apartment.

Owners at Elegance Natal will have use of all the facilities at Grand Natal Golf, which includes five golf courses, eight hotels, an equestrian centre, the Ronaldo Football Academy, a spa and health centre, 7km of beach, tennis courts, shopping and beach clubs.

For more information about Elegance Natal Miltonia and Grand Natal Golf contact Resort Group International on 020 8334 8007 or see rgintl.co.uk.

Stunning architecture, good food and plenty of sunshine – this country has it all says Amanda Shiel  

It’s little wonder that three quarters of a million Brits own a property in Spain. The country enjoys excellent weather, long sandy beaches, fabulous weather and beautiful scenery and with more airports in the UK running frequent and competitively priced flights, this country’s popularity is only set to grow.
Los Cortijos in Mijas is a residential development of one-, two- and three-bedroom apartments set within the Costa del Sol’s true ‘golf valley’. The properties are superbly equipped with first class laminate wooden flooring in living rooms and bedrooms, heating and comfort cooling, fully fitted kitchens, disabled-adapted lift access to some apartments per floor, allocated parking and storage.  On-site facilities include a gymnasium, spa, sauna, three swimming pools and manicured gardens.
Prices start from just €195,000 for a one-bedroom apartment with 25m² of terracing rising to €440,000 for a three-bedroom three bathroom duplex penthouse with 40m² of terracing.
For further information contact Lautier on 00 34 916 502 802 or visit lautier.com.
Tucked into the pine-clad hills framing the town of Marbella, Meisho Hills comprises two-, three- and four-bedroom homes. All are en-suite and range from an ample 350m² to a considerable 850m² in floor space. Homes also include private swimming pools, lifts, garaging for two to three cars, wine cellars and individual rooftop Zen Gardens. Every convenience is afforded with underfloor heating, air-conditioning, Italian designed kitchens with Miele appliances and Jacuzzi tubs in each bathroom.
Prices start from €1,556,000 and completion is scheduled for March 2008. Contact Duchy Estates on UK freephone 0800 849 8089 or call the Spanish office on 00 34 952 906 944. Alternatively, visit duchyestates.co.uk.
Comprising one- and two-bedroom apartments and two-bedroom executive penthouses, Hoyo 19, the latest release at Nuevo Portil, boasts spacious private terraces and balconies, underground parking and stunning landscaped gardens with a feature swimming pool. Located on the western Costa de la Luz, Nuevo Portil Golf Resort is set in an idyllic location interspersed with natural umbrella pine forests and overlooking golden sandy beaches.
Off-plan prices start from as little as €156,000 (approx £108,000). Completion is expected for May 2009.
Self-build is a cost-effective and satisfying way of acquiring a villa in southern Spain. A bespoke villa can be built for up to half the cost of an equivalent resale property, with all the advantages of choosing your own views, layout and style. Carrington Estates have various plots available at Monte Mayor Golf & Country Club, starting from £250,000 for approximately 2,000m² and at La Zagaleta starting from £400,000 for approx 4,000m².
Contact Carrington Estates on 00 34 952 810 868, UK Local Rate 0845 094 1168, or visit  carrington-estates.com.    
Spanish Algarve Properties is now marketing Colinas Da Boavista in Tavira, on the Eastern Algarve. Colinas Da Boavista is a private complex built alongside the River Gilao offering lovely city views and boasting traditional winding streets, beautiful churches and a peaceful atmosphere.  There will be a selection of one-, two- and three-bedroom apartments available, set in landscaped grounds with a communal swimming pool and all finished to a superior standard incorporating Italian designed kitchens, wood flooring, electric shutters, double glazing, fireplaces, fitted kitchens and jacuzzis.
Prices start from just £140,000. Call 0870 004 6041 or go to spanishalgarveproperties.com.

Stylish and full of confidence, Berlin is also very affordable to investors. Johnny Turner has a look at what’s on the market

The newest international property hotspot has it all: a cosmopolitan feel, easy connections from the UK, a wealth of culture and history, and good-quality property at amazingly low prices. Property values are set to skyrocket, say many experts, so the time to get in is now.
Emerging Real Estate has launched Vineta Art-Carrée, its second development in Berlin. This scheme offers a selection of benefits designed specifically for the UK investor market, and with prices starting at €68,000 (approx £50,000) this is an excellent opportunity.
Built in 1927, Vineta Art-Carrée is designed in the typical Berlin quadrangle style with an inner garden. Each of the one- and two-bedroom apartments has been fully refurbished and modernised. The light, airy living spaces offer a wonderful standard of living for tenants.
The location is a particularly good selling point. Prenzlauer Berg is Berlin’s most fashionable district, offering lovelyi residential areas, bustling shopping centres, markets and a variety of cosmopolitan bars and restaurants.
The area is also close to Alexanderplatz, and gives the feeling of both relaxation and buzz, with leafy parks alternating with the thrum of a working metropolis. Public transport is excellent with tram, underground and bus lines very nearby.
At Vineta Art Carrée, 50 to 60 per cent mortgages are available and there is a four per cent net rental yield (after costs) as well as a ten- year minimum rental guarantee. The owner also gets 100 per cent of any rental increases, a ten-year maintenance and modernisation guarantee and a free ten-year rental management service agreement.
Berlin is in the midst of a huge regeneration programme, which is in line with a trend towards coroporate HQs relocating to the city; artists thrive here, filmmakers and musicians are as in love with it as ever, and a real vitality is evident all around. All good news for anyone thinking of putting money into property here.
Pelle Langli, CEO of Emerging Real Estate, says, ‘Berlin is now one of the world’s most exciting cities. International and German investment is changing both the face and fortune of the city and coupled with a strong tradition of letting this means the property market is set to be a sound proposition for investors.’
For further information on Vineta Art-Carrée contact Emerging Real Estate on 0845 601 7293 or visit emergingrealestate.com.
David Stanley Redfern Ltd offers three developments in Berlin. In Tegel, the Tegler See development has one-, two- and three-bedroom fully modernised apartments priced from just €93,700. The investor gets a the ten-year guaranteed rental yield of a minimum €6 per square metre, bringing peace of mind.
The 1980s-built development, which was refurbished in 2003, has double-glazed windows, as well as renovated facades, hallways and entrances. There are well-kept gardens and clean, safe play areas for children.
Also on the market is City Oasis, a development in the north-east of the city where prices start at an amazing €31,850. The modernised, family-orientated building has apartments of between one and four bedrooms, not to mention its very own supermarket.
For those in the market for a one-bedroom apartment, the Hubertusalleefinal development in popular Charlottenburg-Wilmersdorf is well worth a look. With prices starting at just €61,990, this is a chance to get in on a low-risk basis; prices are set to zoom skyward in Berlin over the next decade.
These apartments enjoy very high rental yields – not surprising as they are located in one of the most upmarket, convenient areas of Berlin. Views are wonderful, with vistas of beautiful forests, lakes and the Havel River from the building.
For further information on any of David Stanley Redfern’s investment opportunities visit davidstanleyredfern.com.
Berlin Capital Investments is selling a number of exclusive luxury converted loft units in the high-style Loftland development in the affluent Goerzallee area.
The attractive, refurbished building, originally built in 1938, originally a radio factory and later used as the headquarters of the US military after the War, is now listed. Spacious high-quality loft and penthouse apartments are available in many different sizes, priced from €195,000.
All the apartments have been finished to the highest standards and include high ceilings, solid hardwood flooring, high quality tiles and Grohe mountings. All have flagstoned terraces or balconies.
Transport into central Berlin is very quick and easy from Loftland, with the nearby expressway as well as S-Bahn and U-Bahn train lines. Local leisure facilities include many attractive parks, as well as golf, tennis and sailing facilities.
Anticipated rents are over €10 per square metre. Fifty per cent mortgages are available, and British buyers should know that no capital gains tax is payable in Germany on property held for more than ten years. Also, Berlin Capital Investments is offering to pay buyers’ legal fees (normally about €2,000).
Find out more at berlin-capital.com.

You will not be far from a top-notch golf course with these developments, says Amanda Shiel

Caribbean
Chesterton International has launched two new developments on the islands of St Lucia and Anguilla. Both resorts will include a hotel, beach-front apartments and a full range of recreational facilities when completed in 2010. 
The Raffles St Lucia development comprises a 200-room Raffles Resort, a variety of one-, two- and three-bedroom apartments and 72 plots of land. Further features include the Raffles Amrita spa, five swimming pools, a choice of restaurants and a Jack Nicklaus Golf Club (JNGC).
Situated on the east coast of Anguilla, the Fairmont Anguilla will consist of 360 acres of pristine oceanfront estate, featuring a variety of beaches on no less than two miles of coastline. Properties at the resort will offer spectacular sunset views against the backdrop of nearby St. Maarten.
Features of the development will include the 120-room Fairmont Resort, Willow Stream Spa, dining and recreational facilities, a beach club, a range of one-, two and three-bedroom apartments and the Jack Nicklaus Golf Club and signature Golf Course.
Chesterton and partners IMI, Fairmont Hotels & Resorts and Raffles Hotels & Resorts, are offering a Founders Programme at each development – a package which offers a range of extra benefits for early buyers.
Prices range from US $1,100,000 for a package with a one-bedroom apartment at St Lucia and US $1,600,000 for a package with a one-bedroom apartment at Anguilla. Reservation for the Founder’s Package requires a US $5,000 refundable deposit and is available until the end of 2007.
Contact Chesterton International on 0207 201 2070 or visit chesterton.co.uk.

Cyprus
Parador Properties are currently marketing a variety of developments that are close enough to take advantage of Cyprus’s beautiful golf courses.
The Zephyros Village apartments include a communal swimming pool and children’s playground. Prices start from £91,053 for a two-bedroom apartment.
Limassol Star apartments is situated in a five-star beachfront area, with a large communal swimming pool, special children’s pool, a tennis court and gardens. The site has been carefully designed to offer privacy and peace of mind to all residents.  Prices start from £110,824 for a one-bedroom apartment, with two-bedroom townhouses and three-bedroom villas also available.
The Ha Potami Villas in Secret Valley were made for those looking for fun and sun in peace and quiet, combined with excellent road links to Limassol, Nicosia and Larnaka.  Prices start from £294,941 for a three-bedroom villa and £421,171 for a four-bedroom villa.  
For more information, visit paradorproperties.com or call 0800 781 4198.

Portugal
The Tróia Peninsula, a traditional weekend and holiday destination for Lisbon’s influential inhabitants, is rising into international prominence with the launch of Troiaresort, a new 440 hectare resort development which encompasses the existing Robert Trent Jones 18-hole golf course. 
A range of contemporary residences, including 211 beach apartments, 79 marina apartments and 99 private villa plots, are now available. All of the apartments have water views, while the villas have views of the ocean, the lakes or the golf course. Villa owners have golf rights included.
The resort will be divided into four areas, each offering a different range of facilities and amenities.
The first phase, which comprises three hotels, a marina, casino, conference centre, commercial facilities, restructuring of the golf course and delivery of the marina and beach apartments, will be completed by September 2008.
Prices at Troiaresort range from €290,400 for a one-bedroom marina apartment to €1.3 million for a six-bedroom villa. Visit troiaresort.net or call +351 214 643 322.

USA
Walkabout Golf & Country Club is a multi-faceted resort on Florida’s Space Coast.  Encompassing 1,200 acres of private nature reserve, 18-holes of golf designed by Perry Dye and a choice of high-end properties from townhouses to villas but without high-end price tags, Walkabout Golf & Country Club is the ultimate luxury lifestyle community.
The townhouses and villas have a range of facilities from hiking and jogging trails to cycle tracks, children’s pool, play area and child care facility as well as swimming pool, jacuzzi and wellness centre complete with spa and dedicated trainers and instructors.
Prices start from $398,000 (£198,000).
The Element, a 17.5 acre gated residential community at MetroWest Golf Club, is bordered by the Robert Trent Jones Senior designed golf course, which opened in 1987, and Veranda Park Town Centre.
The development is arranged into residential properties bearing the signatures ‘air’ (one-bedroom, one bathroom), ‘water’ (one-bedroom, one bathroom), ‘earth’ (two-bedroom, two bathroom), ‘metal’ (two-bedroom, two bathroom) and ‘fire’ (three-bedroom, two bathroom).
Properties themselves are ready for immediate occupancy, have a choice of balcony, patio or solarium, golf course and lake views as well as vaulted ceilings, fireplaces and walk-in wardrobes.  Private garaging is also available. The whole community is pet friendly and offers WiFi hotspots.
Prices start from $163,900 (approx £81,500) for a one-bedroom ‘air’ apartment.
For more information on these developments, visit propertydealsflorida.com.

Bulgaria
Located near the village of Tankovo, Tankovo Mews offers a village setting in a courtyard house concept, with a communal swimming pool and public pavilion.  The Kableshkovo golf and entertainment complex is under development 3km away.
The development includes two-bedroom villas with a jacuzzi, four-bedroom villas with heated a swimming pool and three-bedroom villas with plunge pools. Prices start from £94,766.  
Set on the rolling hills just outside of Nessebar, the Nexus project 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.
Property styles include studios, one-bedroom apartments, two-bedroom villas with a jacuzzi, three-bedroom villas with plunge pools and four-bedroom villas with a heated swimming pool. Prices start from £19,669.  
For more information on these developments, visit buyland.co.uk.

Cyprus is blessed with an abundance of sun, sea, sand and great homes - an ideal setting for either a holiday or a new life abroad.

It’s no wonder that Cyprus is one of the most sought-after countries for overseas property purchase, and appeals to a range of ages and types of buyer. Families seeking a new life overseas are just as likely to buy here as those wanting to retire, plus it’s a good place to choose if you’re looking for a holiday home or an investment property to rent out.

Only an approximately four-hour flight from the UK, the island is very easy to get to, especially considering that being there is like being in another world – a sunny, relaxing haven.

Cyprus’s laid back atmosphere, perfect climate and mild winters make it idyllic for a short visit or a lifetime.

It is relatively safe too and, in most areas, children can play safely outside and make the most of the outdoors. The beaches are clean and kept to a high standard and the cost of living is low.

An EU member since 2004, Cyprus allows non-resident EU citizens to purchase up to two homes in the country but after May 2009 there will be no maximum. It’s expected that the market will expand considerably after this point, with prices rising in conjunction with demand - so buying now, before the rush, looks like a good financial move.

Parador Properties has a lot of different options available - we have listed a selection below:

Zephyros Village apartments
This new development, close to golf courses that are a popular pastime in Cyprus, offers a lot to get excited about. As well as golf courses, the Zephyros Village apartments are close to beaches and the airport. They include a communal swimming pool and children’s playground. With ample parking and lush greenery enclosing the development, prices start at £91,053 for a two bedroom apartment.

Limassol Star apartments
Nearby in Limassol are the stunning Limassol Star apartments, town houses and villas. The development is situated in a five-star beachfront area, with a large communal swimming pool, special children’s pool, a tennis court and gardens. The site has been carefully designed to offer privacy and peace of mind to all residents. Prices start at £110,824 for a one-bedroom apartment; two-bedroom town houses and three-bedroom villas are also available.

Ha Potami Villas in Secret Valley
The highly prestigious Secret Valley golf course is nestled among mature trees and natural rock formations. This 18-hole championship course is a kaleidoscope of colour, with beautiful flowers decorating the walkways in between the palm trees that help give the course its shape. The Ha Potami Villas in Secret Valley were made for those looking for fun and sun in peace and quiet, combined with excellent road links to Limassol, Nicosia and Larnaka. Prices start at £294,941 for three-bedroom villas and £421,171 for four-bedroom villas.

For more information call Parador Properties on 08000 781 4198 or see Paradorproperties.com.