Overseas - February, 2008

Friday, February 29, 2008

Amanda Shiel takes at look at some of the finest ski resorts in France

Residence Le Martell de Janville, Mont Blanc
The residential property is seven floors high and comprises 150 apartments ranging from the studio to the T5 with terraces, views of Mont Blanc and private parking. Residence Le Martell de Janville is located in the Mont Blanc area on the Plateau d’Assy, 20 km from Chamonix and Megève.
Prices: from €61,500 (about £43,865) to €206,000 (about £146,930)
Contact Overseas Homesearch on 0800 6520 769 or visit overseashomesearch.co.uk

Les Chalets de l’Adret, Les Deux Alpes
The Chalets de l'Adret are located at the centre of the Deux Alpes resort, by the foot of the ski lifts.
The development consists of two chalet blocks and features a total of 30 apartments, ranging from studios to three-bedroom units. Each apartment has a terrace or balcony and ski equipment storage, while parking spaces are available for an additional fee.
Prices: from €95,500 (approx. £68,115) to €453,000 (about £323,104)
Contact Overseas Homesearch on 0800 6520 769 or visit overseashomesearch.co.uk for more details.

Les Terrasses d’Eos, Flaine Montsoleil
Les Terrasses d’Eros in the Flaine Montsoleil resort is located in the Haute-Savoie Region of the French Alps at the foot of Mont Blanc, a region renowned for its snowfall and snow quality. The new development of Les Terrasses d’Eos offers ski in, ski out access to the largest and most diverse ski area in the French Alps, ‘Le Gran Massif’. The resort is a car-free, fully pedestrian centre, with a variety of shops, restaurants, bars, and recreational areas, including landscaped gardens and a fitness centre.
Les Terrasses d’Eos is located to the east of the village and comprises of 500 units offering a choice of one-, two-, and three-bedroom apartments. Each apartment is fully furnished to 4-star specifications with contemporary designs and large bay windows which open onto a balcony with alpine views. To create a feeling of warmth for these mountain apartments the walls are decorated with cream and ochre as well as having under floor heating. One parking slot will be available to each apartment. Prices start at €200,000 (approx. £135, 894) for a one-bedroom apartment.
Prices start at €200,000 (approx. £135, 894) for a one-bedroom apartment.
Visit overseashomesearch.co.uk or call 0800 6520 769 for more details.

EdenArc 1800, Les Arcs
EdenArc 1800 consists of 330 one-, two- and three-bedroom apartments. Each apartment is fully furnished to 4-star specifications with contemporary designs and large bay windows which open onto a balcony with alpine views.
The furniture in the living rooms includes a sofa bed, armchair, coffee table plus two further tables. Underground parking is available at no extra cost. Located at the foot of the slopes, further features of the apartments include an aqua relaxation centre with an outdoor heated swimming pool, a children’s swimming pool, hot tubs, sauna and hammam. A fitness centre and conference rooms are also on site.
The abundance of wide open spaces makes the slopes at Les Arcs excellent for beginners while expert skiers can enjoy themselves off-piste. Other winter activities available include ice climbing, ice skating, show shoeing and winter walking. Being an all-season getaway, there are plenty of activities on offer for the summer – golf, horse riding, paragliding, hiking and mountain biking are a few examples. The resort caters for children with a wide range of activities such as trampolining, bouncy castles, ski kindergarten and kid’s club to choose from. Les Arcs also has restaurants, nightclubs, bars, a bowling alley and a few cinemas.
Prices start at €245,000 (approx.UK £171,018) for a one-bedroom apartment and completion is expected at the end of 2008.
Call 0800 6520 769 or visit overseashomesearch.co.uk.

Residence Le Janremon, Les Deux Alpes, Isere, France
This development is located in the village of Les Deux Alpes in the Massif des Ecins region of the French Alps. The hotel conversion will consist of 44 studio, one-, two- and four-bedroom apartments. Features include a balcony/terrace with dramatic views of the mountains from most apartments. Each apartment comes with a ski locker and personal water/electricity metre.
Due to the high slopes, reliable snow fall and close proximity to the nearest cable car (150m walking distance), the resort is popular among skiers and snowboarders alike. The varied mountain terrain means that the resort suits all levels of skier from the beginner to the advanced. There is a snow park in the village and night skiing is offered three times a week. There are 25km of cross country trails. Being an all-season getaway, there are plenty of activities on offer for the summer too – golf (les Deux Alpes Golf Course), horse riding, paragliding, hiking and mountain biking are a few suggestions.
Prices start at €75,000 (approx. UK £52,357).
For more information call 0800 6520 769. Alternatively visit overseashomesearch.co.uk.

Les Chalets de la Tannerie, Chamonix, French Alps
Positioned at the heart of the French Alps, Chamonix has been a favoured Alpine destination for decades. Chamonix has excellent skiing, some of the best walking and cycling routes and a range of restaurants and bars for any après-ski requirement.
The development comprises 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 towards Mont Blanc and the Aiguille du Midi.
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 – Les Chalets de la Tannerie maintains this tradition.
Three apartments are currently available: a three--bed for €1,049,000 (£704,026), four-bed €1,415,000 (£956,081) and four-bed for €1,459,000 (£985,810).
Contact Chesterton International on 0207 201 2070 or visit chesterton.co.uk.

France

posted on Friday, February 29, 2008 1:26:37 PM (GMT Standard Time, UTC+00:00)

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Monday, February 18, 2008

Around the med

With its history, beauty and fantastic climate, the countries lapped by the Mediterranean Sea are excellent investments. Johnny Turner looks into what’s available near the mighty Med

The Mediterranean has drawn sun-seekers for centuries, and smart investors long ago realised the desirability of owning property near its shores. These days, buyers are making a beeline for the beautiful shores of the Med – and the market has plenty to offer.
In Mallorca, demand from all over Europe has resulted in a limit to the amount of new land available to buyers, which has pushed prices up. Prices on the Balearic Islands have risen by a staggering 15.26 per cent in the last 12 months.
For those who want to buy on the island before the cost rises even further, Taylor Woodrow de España has a selection of developments to suit a range of budgets and lifestyles. For sun worshippers, the east coast of Mallorca is famous for its beaches, offering more than 50 beautiful, secluded coves. Cala Millor is an ideal base for explorers. Just 3km from the resort is Port Verd, a collection of 33 spacious two- and three-bedroom apartments, priced from €239,000. This stunning development is just 200 metres from the beach and also has a swimming pool, making it the ideal place to relax in the sun.
Another fantastic development on the east coast is El Puerto II at Cala D’or, a stunning collection of just 31 two-bedroom apartments, priced from €238,000. Many apartments have views over the marina and the development is surrounded by generous gardens and three communal swimming pools. The Vall D’or golf course is just ten minutes away for those wishing to perfect their game in a beautiful climate.
Nick Freeston, head of UK operations for Taylor Woodrow de España, says, ‘With regular low-cost flights, over 300 days of sunshine a year, stunning beaches and numerous historical sites of interest, it’s no wonder that purchasers are snapping up homes in their droves.’ However, the island’s popularity has meant it can be difficult to find property that doesn’t carry a hefty price tag – all the more reason to explore Taylor Woodrow de España’s options, he says.
Purchasers looking for a home in a more established development should visit Cala Magrana 2 at Porto Cristo where Taylor Woodrow de España has a selection of two-bedroom apartments, priced from €250,000 and three bedroom townhouses priced from €285,000. This beautiful development is just two minutes from the sea and very near golf courses and the marina of Porto Cristo.
For further information telephone the sales office on 0800 012 1020 or go to taylorwoodrow.es.
On mainland Spain, Huelva, the capital city of the south-westerly Spanish province of the same name, is to get its own international airport. Good news for would-be investors who are ready to buy before the resulting price hikes.
Huelva, located near the Costa de la Luz, Spain’s sunniest coastline bordering the Portuguese Algarve, will now be ultra-accessible, and therefore more desirable. It currently has the lowest percentage of foreign visitors compared to the rest of the coastal provinces of Andalusia, but is set to flourish when the airport opens.
Titan Properties offers a number of properties within the Huelva region, priced from as little as €54,505 for an inland apartment at Jardines del Guzman, or €187,000 euros for a two-bedroom apartment within 100 metres of the beach at Hoyo 19, Nuevo Portil. Contact 00 34 959 399 982 or visit titan-properties.com.
Morocco is a very up-and-coming Mediterranean location, and a brand new development in Marrakech is set to make this location even more desirable. Emerging Real Estate has launched Apple Gardens, which offers a range of three-bedroom villas at prices starting at €240,000.
Apple Gardens is a fully managed development of 51 detached and semi-detached properties located 15 minutes from the centre of Marrakech. The homes are built in a traditional courtyard style yet have the added benefit of open-plan living. Each villa has the latest modern conveniences, plus its own swimming pool and stunning terraces surrounded by secluded gardens.
The views from Apple Gardens will be a major selling point. The spectacular vistas across to the Atlas Mountains are awe-inspiring, and the development is also close to the famous Djamaa El Fna Square, a UNESCO World Heritage site.
Visitors will have access to a host of on-site recreational facilities and activities including; a bar, restaurant, a well equipped gymnasium, a hammam (traditional steam room), a communal pool and tennis courts. Rental management, housekeeping and laundry services are also available.
For golfers – and those who want to let to golfers – preferential green rates have been negotiated with three world-famous golf courses nearby: Marrakech Royal Golf Club, Marrakech La Palmeraie Golf Club and Marrakech Amelkis Golf Club.
The resort is accessed by a fully surfaced private road. The journey time into the centre of Marrakech is approximately 15 minutes and Menara International Airport is approximately 25 minutes away. A shuttle bus service to the airport is also available.
For further information on Apple Gardens contact Emerging Real Estate on 0845 601 7293 or see emergingrealestate.com.
Also in Morocco, the popularity of the marina at Mediterrania Saïdia means it needs extending even before it has been fully built. Oversubscribed from the outset in 2004, the existing 840 berths will now be expanded to over 1,000, taking the bill to more than €21 million.
Each of the additional berths at Mediterrania Saïdia will be more than 12 metres (40ft) long and also create space for more commercial areas, a sports club and extra parking spaces. The marina is the hub of the 7 million square metre resort, which occupies six kilometres of sandy beachfront and is zoned into distinct sporting and leisure areas. The development is to include restaurants with sunny pavement terraces, bars, a traditional souk, designer boutiques, high street fashion stores, a medical centre and discotheque.
GEM Estates offers a range of property within Mediterrania Saïdia, from beachfront apart-hotel suites to grand frontline golf villas. Prices start from just £75,500 for a unit within Sahara Beach Resort & Spa.
Contact GEM Estates now on Freephone 0800 731 8494 or visit gem-estates.com to find out more.
Italy is a firm favourite with British holidaymakers and buyers alike, and in sunny Calabria, you can buy into a wonderful lifestyle that is defined by its culture, community and breathtaking beauty.
Pizzo, one of the most beautiful and famous towns in the Vibo Valentia district of Calabria, is an ancient cliff-top village blessed with stunning ancient architecture, fascinating history, a fabulous healthy climate and a fine-white sandy beach lapped by turquoise waters.
This famous fishing town has fabulous restaurants and cafés, water sports, mountain climbing, sailing and many other outdoor activities – which all adds up to an amazing lifestyle that is both restful and packed with possibilities. And the property prices here make la dolce vita even sweeter – you can buy here for € 74,500.
Pizzo Beach Club is a five-star resort situated on the shore of the Tyrrhenian Sea and within a short 15-minute drive of Lamezia International airport, which offers inexpensive direct flights to the UK. The resort has studios, apartments, penthouses and villas, each elegantly designed over two levels. The development also offers a football pitch, tennis courts, a clubhouse with restaurant and bar facilities as well as swimming pools and botanic gardens, perfect for relaxing, lazy or active holidays.
An ancient forest of pine and eucalyptus trees separates the resort from the beach, which is only a five-minute stroll from the resort. The enchanting forest will also offer additional activities such as an archery range and a relaxation area where hours can be whiled away relaxing on hammocks whilst listening to nothing but the soothing sound of wind and waves. The stunning beach will offer an additional beach club as well as a sailing centre for those looking for more adventure or action.
Pizzo Beach Club is bordered by a popular and always busy Club Med resort. In peak season the Club Med site has to turn down holidaymakers, which gives scope for strong rental income for Pizzo Beach Club owners. Expected rental yield is ten to 15 per cent and the resort is scheduled for completion December 2009.
Prices start at €74,500 for apartments and €261,500 for villas. Call UK Freephone 0800 036 0068 or visit gem-estates.com.

posted on Monday, February 18, 2008 10:19:47 AM (GMT Standard Time, UTC+00:00)

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Wednesday, February 13, 2008

Way out east

The Far East is booming in terms of both business and property investment. Johnny Turner sees what the property market has to offer

With the China having arrived as the world’s new economic powerhouse, an unprecedented amount of building and buying is going on in the Far East as a whole. Besides China, such destinations as Malaysia and Thailand are the recipients of a new wave of investor interest. Western buyers are now getting in on the act, putting their money into investment properties throughout Asia.

Vietnam is another such location – indeed, its popularity has forced some cooling measures. Fifty per cent property price increases since the beginning of 2007 have prompted a preliminary draft of new laws to curb bulk buying and create a sustainable market for property in Vietnam.

Property agents remarked that the government plan allowing both Vietnamese living overseas and foreign investors to own freehold property has accelerated the rush to purchase real estate for future resale and thus affected prices. Vietnam’s property prices have risen exponentially since the beginning of 2007, as more investors have shunned the stock markets in favour of the more gainful property investment market. Policymakers and economists are now pushing for the new legislation in a bid to avoid a bubble and sustain the country’s high growth rates for many years to come.

The draft proposal details measures to impose an annual tax on owners who have acquired more than one property – however, the law would not come into effect until 2010. At present only transfer taxes are payable on the sale of a property, but most sales are paid in cash making it difficult for the government to gage volumes and collect on capital gains tax.

And that means now is the time to catch the multiple-buying window in Vietnam.

Currently, scores of investors are queuing overnight to join the immense competition for off-plan property apartments, and property news has shown hundreds of buyers camping outside Singapore’s CapitaLand to pay deposits for a newly released project.
Nguyen Xuan Dao, chief executive of property developer Vietnam Property Inc, said, ‘In some areas in Hanoi and Ho Chi Min City (HCMC), especially in the luxury condominium sector, prices have tripled in the past year alone.’

Dao said local real estate companies reported projects in Hanoi and HCMC had sold out prior to completion, with developer PT Ciputra Development Tbk now selling apartments for $240,000 – up from $80,000 in the previous year.

For more information on overseas property investment, and to find out about Obelisk’s latest projects, contact Obelisk free on 0808 160 0670 or visit obeliskinternational.com.

In Malaysia, the regulation pendulum is swinging the other way. The UK market is now driving The Malaysia Ministry of Tourism’s new ‘Malaysia My Second Home’ (MM2H) programme, according to new figures.

Malaysia My Second Home is an initiative designed to encourage buyers from around the world to purchase second and third home properties in Malaysia. The UK ranked first in terms of number of participants approved on the programme in 2007 (January to August) up two rungs from its third place ranking over the past four years. There are currently 1,215 British participants on the programme, out of a total of 10,308 participants.

Positive measures taken by the Malaysian government to relax regulations imposed on the property sector have also kindled further interest in the (MM2H) programme. These include allowing foreigners to purchase any number of residential property priced above £43,265 without restriction, and an exemption from Real Property Gains Tax on profits made from the sale of residential property. Real estate prices in Malaysia are viewed as competitive and below those in other Asian countries, with prime location rates in the capital Kuala Lumpur still below £290 per square foot.

David and Barbara Miller from Scotland are thrilled with a £45,000 half-acre house they acquired near Ipoh, north of Kuala Lumpur. ‘We would never have been able to afford such a place in the Scotland, let alone handle the renovations to our fancy, and we achieved everything at a fraction of what it would have cost us back home,’ they said.

The UK is Malaysia’s best long-haul tourist-generating market, supplying 252,035 tourists in 2006. 136,429 British tourists were recorded from January to June 2007, an increase of 4.7 per cent over the same period last year. Total tourist arrivals to Malaysia from January to June 2007 numbered 10,690,426 – an increase of 24.8 per cent over the corresponding period in 2006.

According to the Ministry’s Secretary-General, Dato’ Dr Victor Wee, ‘The UK has been a traditional tourism source for us and it is thus natural that we are appealing to the baby boomer generation to consider Malaysia My Second Home programme for their retirement. Furthermore, with property prices in the UK rising to extraordinary levels, many buyers are now looking abroad to invest wisely.’

Brits are finding Malaysia more and more appealing as a long-stay destination, citing the warm tropical weather, good quality of life, low cost of living, modern infrastructure, excellent healthcare facilities, political stability, widely-spoken English, recreational facilities, multicultural population and food variety as decisive factors in their choice of Malaysia as a preferred retirement and long-stay destination.

Malaysia ranked seventh as a retirement haven in the recently-announced results of the fifth annual Global Retirement Index compiled by International Living magazine’s website, in a survey of 29 countries.
One of the incentives under the current programme is the provision of a multiple-entry, renewable social visit pass valid for ten years. For more information visit mm2h.gov.my.

China’s growth has to a large extent defined the world economy in the past decade or so, and this dominance shows no sign of abating. The once fiercely anti-market country, this mega-economy is now a huge creditor nation and the subject of massive investment. And within this fascinating country, Shanghai is growing exponentially, a powerhouse within a powerhouse. With a building programme of a scale that defies belief, little wonder that the property market in Shanghai is booming. Many have identified Shanghai as offering excellent long-term prospects and have invested there with great success.

Its economic power makes it an investment destination for several reasons: City players have been keen to invest in the Chinese currency, which has been called undervalued. Indeed, the Chinese currency is expected to grow by ten per cent in the next year, and growth of between 20 per cent and 40 per cent is forecast as China moves from the world’s fourth-largest economy to largest.

Its new World Financial Centre is another symbol of dominance, and the money flows towards these symbols. Therefore, the Pudong area, home to the World Financial Centre, has been attracting unheard-of rates of investment. Those who want even the vaguest ideas of what Shanghai will be can think of Canary Wharf and then imagine even more exponential growth.

Shanghai Vision, the leading Shanghai-based specialist in the market, points to the huge growth that has been seen already and is convinced that there is much more to come. In Shanghai, low prices are a key to excellent growth, and investors in Summit Residence have achieved 29 per cent capital growth in just one year. And with rental demand far outstripping supply, the continued need for property to rent is assured.

‘Demand is certainly strong. Apartment sales doubled in March compared with February. Enormous, growing foreign investment is bringing a massive influx of Chinese and overseas workers into the city, creating a thriving property rental market. Value growth of the property is strong at between ten and 15 per cent.

‘In addition, many City of London investors have bought for the opportunity to invest in the Chinese currency, which is seriously undervalued and providing exciting returns. The opening of Shanghai’s World Financial Centre this year - twice the size of Canary Wharf - is generating massive interest in apartments in the Pudong area.’ City of London investors see what’s happening in Shanghai as similar to the rapid growth in Wapping and Docklands properties, says Keogh.

It is not just a handful of adventurous investors. Shanghai Vision has helped 350 UK- and Ireland-based private investors buy over $100 million worth of properties in this city in the last four years. It is a growing trend. Shanghai Vision (London) property sales in Shanghai tripled in 2005, more than half of these being bought by investors who already own property there.

For the latest deals in Shanghai real estate call +353 01 637 3995 or visit shanghaivision.ie.
Thailand is known as a tropical paradise, and this reputation for luxury and natural beauty drives the dynamic of property investment in the country.

In Koh Samui, Cinnabar is a small collection of only 48 high-spec two-bedroom apartments (including 12 penthouses) being created within the exclusive Angthong Hills, which is situated above the village of Bang Po to the north-west of the Island. The land at Bang Po is zoned for residential use only and has demanded a higher than average price level on the island which has ensured that developments in this area are higher-end and more exclusive. A large percentage of the land in Bang Po is green zone and as such will not be subject to any further development.

Koh Samui itself is an idyllic holiday island in the Gulf of Thailand. It is known for its amazing beaches and wealth of activities, such as exploring exotic Buddhist temples such as the famed golden Big Buddha, elephant trekking, wonderful local markets, water sports, waterfalls. Recent additions include a shopping centre containing a superstore, shops, restaurants and cinema.

The island is easily accessible via direct flights from Bangkok, Phuket, Pattaya, Penang, Kuala Lumpur, Singapore and Hong Kong; further routes are planned for Taipei and Shanghai.

For further exploration, the islands of Koh Phangan and Koh Tao are only a short boat ride away. Koh Phangan is famous for its monthly full moon parties, which draw revellers from around the world, while Koh Tao boasts some of the world’s most fabulous diving sites.

Investors will be impressed by the island's 48-week holiday season, its average year-round room occupancy of 74 per cent, the full management programme and the high average room rates; the fact that the area has a strong secondary market within Asia provides a clear exit strategy.

Prices range from £95,000 to £110,000 including off-plan discounts; prices are expected to rise by 15 per cent this year. Construction began last year and the full infrastructure is now in place.
For more information contact 0800 977 4517 or visit fareps.co.uk.

Asia

posted on Wednesday, February 13, 2008 12:27:40 PM (GMT Standard Time, UTC+00:00)

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Wednesday, February 06, 2008

Spain - an old favourite

Spain is eternally popular for a hundred reasons. Foremost is its 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.

Spain