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August 10, 2007

Low Cost Flights Make Up Half of Malaga Arrivals

With three airline companies bringing half of the arrivals to Malaga Airport, it is expected that there would be a 7.5 percent growth in passenger number this year, bringing the total to a whopping three million passengers on low cost airline alone. The airline companies, Easyjet, Monarch and Air Berlin, are expected to accommodate 800,000 extra seats to Malaga this summer. With half of visitors riding with these airline companies, chartered flights are no being occupied by at least 20 percent of passengers.

The number of tourists arriving to Malaga prompted officials to construct another and second runway for the airport – this is the size of 200 football pitches. Last week, it was reported by Aena that as many as 527 properties, covering two million square meters, will be stepped on in order to achieve these properties and in order for them to build the airport. The properties consist of parking areas, cultivated and irrigated lands, apartments, railways and underdeveloped countryside. Most of these properties are within the area space of Malaga. The airport is expected to be operational by 2010.
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Posted on: Spain

Property NewsBudget Italian property buys on the south coast

Italian properties are now more affordable. In the southern province of Calabria, several Italian properties are for sale for as low £44,000. These properties are marketed by overseas home specialist, International Property Link.

Calabria is still somehow untouched by tourism and modernism. Italian heritage and culture are still intact in the agricultural region with quaint villages and an almost isolated and pristine coastline.

The Marinella development sits in the town of Vibo Valentia. The apartments come with two bedrooms, two bathrooms and a communal swimming pool. 400 metres from the beach and 25 minutes from the airport, Marinella is close to Lamezia Terma city centre. The development is also close to several shops and pizzerias. Prices start from £60,000 with deposits from £21,000.

Posted on: Italy

August 9, 2007

New French property law may attract more investors

France recently enjoyed praises from International Living. Reports say that the country boasts of the best quality of life in the world. On top of that, there is another development that may interest buy-to-let investors. There is a new law that will make things easier for property investors who lease their freehold property to a management company. This is known as the leaseback scheme.

The leaseback scheme allows overseas investors to buy a freehold property and let it to an approved management company between nine and eleven years. The company is obliged to pay a fixed rental for the property even if it is not being utilized. This way, the investor is guaranteed a monthly income for the property and can make appropriate forecasts. However, this means that the rental income the investor gets during peak season will probably be relatively lower than the price that they can get in the open market, but this is a small price to pay for guaranteed regular income during the off-peak seasons.

Posted on: France

Morocco: Gateway to Africa

Nestled at the top of the African mainland, Morocco boasts of a rich culture and dreamy images of Bedouin nomads leading camels on the desert, a colorful and vibrant market bazaar and tourists and merchants bartering animatedly. Another beautiful picture that comes to mind at the mention of the name Morocco is the sun-baked dusty houses set against a red-orange desert backdrop.

Tourism in the country has been seeing growth in the past few years, influenced by several factors. Vision 2010, a plan by Morocco’s King Mohammed VI, hopes to attract more tourists - ten million in fact - by 2010. This is not an impossible dream considering that the country is on a perfect location to offer an exotic holiday that is easy to access from mainland Europe with Morocco only fours away from Britain by plane. Also, only a narrow strip of sea separates Morocco from Spain. To make Morocco more accessible, there are plans of building a tunnel between the two countries.

Posted on: Morocco

August 8, 2007

New property hits the market in Italy

If you’re shopping for brand new properties, Italy is usually the last place you would look into. Most of the available properties in Italy are old or in need of major reconstruction or renovation. The good news for property investors who prefer the Italian sun is that the demand for new properties has grown significantly in the past few years.

According to Linda Travella of Casa Travella, the Italians have been so used to older properties that they are more enthusiastic towards newer property than one would imagine. She goes on to say that “whilst there will always be a market for converting older buildings into modern-day residences, there is now a growing number of clients on my books looking for something brand new or converted”.

Posted on: Italy

Cooling Florida market still hot with Brits?

Heightened wariness of the hurricane season provoked by Hurricane Katrina’s devastating effects the other year, along with the continued rise of property prices throughout America are causing Brits to think twice when it comes to investing in a second home in Florida.

New home sales have dropped in the Sunshine State by over 21 per cent in the past 12 months since the beginning of the year sales in Florida have dropped from 796,000 between January and August 2005 to 682,000 in the same period of 2006.

Nevertheless, prices of property in Florida have continued to rise. In the past three years alone the average price of a medium-sized family home in Orlando has risen from $145,100 to its current price of $271,700 - an annual growth rate of 17 per cent. In fact, since January 2006 prices in Orlando have risen by an average of $11,000 (Source: National Association of Realtors).

Florida is a major second home destination for Brits for as long as Mickey Mouse has had an interest in Minnie, and increasing prices won’t change this overnight. The pull of the state’s major theme park attractions and the picturesque beaches of the Gulf Coast has continued to woo thousands of British visitors every year, not to mention those who come to stay for good. Brits tend to look for second homes in specialised resorts where they can spend up to six months of the year in and rent out when they are not using these.

Posted on: Florida

August 7, 2007

Property update on the South of France

The French like to holiday in their own country. Every August, thousands of French families pile into their cars and head south to their holiday homes in the sun. Now more and more Europeans are following suit: investing in property in the South of France. Either with a view to moving there permanently or to get their dream holiday home.

Catering to this demand are a number of new purpose-built properties. If one is interested in rubbing shoulders with the famous in Cannes, one could consider Résidence Odyssée des Homériales, situated in the commune of Vallauris. Picasso lived in the town for a number of years and Vallauris is still famed for its craftsmen and artisans. Close by are the beaches of Golfe Juan and 25 kilometres away is Nice airport. The development consists of two buildings containing one-, two-, and three-bed apartments which share communal gardens. Apartments are priced from £150,000 to £247,000 and completion is expected in spring 2008.

Posted on: France

Property in Portugal remains popular

Unless one has spent enough time in both Portugal and Spain to get under its surfaces, one would be forgiven for lumping these together and thinking these were pretty similar. After all, both Spain and Portugal are established favourites with British house hunters. However, inspite of apparent similarities the Portuguese are not huge fans of their Spanish neighbours. The two countries have distinctly different cultures, histories and lifestyles. So what has Portugal got to offer?

With its mild, welcoming climate Portugal offers all the advantages of a sunny country. The coast is littered with superb beach resorts providing ample opportunities for practising water sports. It also boasts quaint fishing towns and a landscape draped in olive groves. What is more, Portugal boasts 12 World Heritage sites and one of Europe’s most attractive capital cities: Lisbon.

These stunning geographic features, combined with the fact that Portugal has maintained the great treasures of a renowned reputation for hospitality and a slower pace of life, have turned the country into a chosen destination for many looking for a holiday, retirement or permanent home. A member-country of the European Union since 1986, Portugal enjoys a steady economic growth but is still one of the most cost-effective countries in which to live in the EU. With food and wine inexpensive, a high quality of life is easily achievable.

Posted on: Portugal

August 4, 2007

Theme Park Property Boost for Spain

The 18 million square meters Marina D’Or Golf, Spain’s property for basking in the sun and sand, is being marketed in the UK and Ireland after glowing in the Spanish market for the new beachside resort.

The Marina D’Or Golf, located in Costa Azahar, has been the prime holiday resort for foreigners who would like to bask in the sun and ride the waves, fitting to be enjoyed for almost 90 percent occupied and sales of hundreds of apartments, found within the vicinity of the crystal clear beaches of Castellon de la Plana, and Oropesa del Mar. Not this massive beach resort is undergoing expansion three-fold and foreign property buyers and families can now enjoy the plush sceneries of this resort all year round.

Posted on: Spain

Florida developer launches its own estate agency

To provide more properties in 11 established and emerging markets, Feltrim International, a US property developer, joined forces with a selection of new homebuilders and developers.

These markets will focus on areas in Bulgaria, The Caribbean, Cyprus, Egypt, Florida, Italy, Morocco, Portugal, Romania and Spain with plans to expand into other areas. “The main reason I launched this company is because of the overwhelming demand from clients and investors alike, who are looking for top quality properties, but who want to deal with a reputable company who understand their needs,” reveals chairman Garry Kenny.