Overseas - April, 2008

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

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

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

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

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

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

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

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

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

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

  

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

Only 88 apart-hotel units will be available in the low-storey development, and no further building is permitted on the large area of national parkland directly behind it so there is a certain amount of exclusivity. 
 
The region’s strong property market has benefited investors in the adjacent Mirador Golf development, which includes 2 bars, restaurant and a supermarket.  Here, the price of 1-bed apart-hotel units has leaped from £19,000 to £27,000 in only 18 months.  Owners in the region have also reported rental occupancy of over 95% in the summer months.

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

 

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

Compass Properties 0800 007 5292

www.compasspropertiesabroad.com

 

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

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