September 15, 2007
Perfect vacation spot? The Algarve has it all — top golf included
Portugal’s Algarve region almost has it all: a perfect and summer weather all year long, the scenery amazingly beautiful, the atmosphere laid back and extremely relaxing, and quite possibly that there is a round of golf resorts nearby. This is a place where golfers can bask in the sun and this is where the Royal and Ancient game of golf reigns supreme and take note, this is not just a game of ordinary golf – it is one of the best destinations where you can find the most elegant golfing spots all year round.
Also found here is one of the most beautiful shorelines anywhere in the world. The Algarve is also a sight to behold, with 150 miles of small covers, bays and inlets, all with soothing and relaxing sandy beaches, occasionally gravitated by the offshore waves of the Atlantic Ocean. With this in the picture, this is the perfect spot for the locations of golf resorts in the world.
Posted on: Portugal
September 14, 2007
Southern Italy proving popular
Rural Italy is proving to be more and more popular with property buyers from Britain as low prices combined with a strong pound make the country more attractive. Calabria is generating a lot of interest in particular. Nestled at the Southern end of Italy, Calabria is enjoying attention for its affordable property prices. “The attraction of Calabria in Italy’s market is cheap prices,” confirms a representative from the Association of International Property Professionals (AIPP).
Calabria is just to the south of Naples and home to around two million people. It is a place of rich contrasts. Some areas are mountainous and suffer below-freezing temperatures during the winters. On other parts of the region, citizens enjoy stretches of beaches and sunny temperatures of around 40 degrees Celsius during the summers. Calabria is also loved for its vineyards since the time of the ancient Greeks. read more
Posted on: Italy
Retirees moving to Spain ‘need to plan ahead’
According to a financial institute in Spain, retired moving to Spain may need to consider more than the properties they would live in. They need to consider the financial aspects in taking out a pension while abroad.
The state pension has only one way to be released – through a drawn in the Iberian peninsula, so long as the prerequisite national insurance contributions have been made over the years. This is according to the financial institute, the Bank of Scotland International.
Posted on: Spain
September 13, 2007
South Florida Real Estate News
While the real estate market in Florida properties continue to be difficult for sellers, buyers have many options to choose from. The Broward Country which is just north of Miami had good news and also not so good news, according to the South Florida Sun-Sentinel newspaper. In March, a first year-over-year increase since last May, prices of existing homes increased a little. However, the number of homes that sold decreased by 25%, from 804 a year ago to 601 in March 2007. The average price was $372,400.
News is better for condominiums where the average price fell from $202,600 last year to $195,500 this year. Condo units sold rose from 982 to 663. In total, close to 37,000 homes and condominiums were on the market, 16% up over the past year.
Posted on: Florida
Property NewsMortgages could see Turkey property prices soar
It is expected that Turkey real estate prices will soon increase after news that mortgages will now be available for the first time.
In the past, property buyers in Turkey could use only cash or bank loans with high interest rates. Recent developments will now allow investors and home buyers to finance their purchase using a fixed interest rate mortgage. Rates can be fixed for either one, two or five years with present interest rates fluctuating between 5.5 to 6.5 per cent. Mortgages in Turkey are based on affordability. A buyer can borrow between the minimum amount of 40,000 to the maximum amount of 200,000 euros. Maximum repayment period for the mortgage is 20 years.
This is good news for those hoping to get a foot in the Turkish property market. “With the introduction of mortgages we can expect to see many first time buyers, both for new and resale property, enter the market,” says Michael Johns of The Right Move Abroad. However, it is also feared that the introduction of mortgages will trigger the prices to go high as an unprecedented number of buyers from abroad and Turkish nationals will now have more chances of buying a home in Turkey. Prices can possibly increase more in already popular second home destinations such as Bodrum, Dalaman, Fethiye and Istanbul.
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Posted on: Turkey
September 12, 2007
Interest in property in Turkey growing
For the first time in real estate history, the number of foreign residents owning properties in Turkey has gone beyond the 62,500 mark. According to a report by the Alanya Chamber of Commerce and Industry, Syrians, Britons, Irishmen, Germans and Netherlanders head the list of property owners in Turkey. Syrians presently hold the top spot, although this rank may change soon. Alanya Chamber of Commerce and Industry reports that between January 7th and July 24th 2006, 6,053 foreign nationals bought property in Turkey, 1,876 of these buyers are Brits.
Many of the foreign owners have nested along the Aegean or Mediterranean coastlines - the Antalya Province, which includes well loved resorts like Side and Alanya. However, the largest concentration of foreign-owned real estate is found in Istanbul. “Undoubtedly Turkey, and in particularly Istanbul, is one property market to keep a close eye on,” comments Jonty Crossick of Ready2invest. According to Crossick, they are starting to see significant growth in a market that is still new to most Western Europeans.
Posted on: Turkey
Turkish Property Auction a success
Last year, October 7, the Turkish Property Auction in the United Kingdom was held at the Sandown World of Property Show. It was believed to be the first ever and was organized by World of Property (WOP) and Solaris Villas.
Prior to the event, many buyers and investors have shown great interest in the auction. An estimated four thousand visited the World of Property Auction web site. Six hundred requested for the Auction Catalogue before the event.
“The response to the Auction was amazing with everyone looking for a bargain. A number of properties were sold prior to the Auction and major savings were there on the day with some properties discounted by up to £25,000,” reveals Bernadette Tyson, Director of Solaris Villas. “There have been further sales after the Auction as people’s interest has continued throughout the past few weeks. Because Solaris Villas has a unique relationship with its developer network, we are able to bring a number of all exclusive bargain properties up for Auction, giving everyone the opportunity to get their dream home at a price that they would not normally find anywhere else”.
Posted on: Turkey
September 11, 2007
BUSH STRENGTHENS FLORIDIAN PROPERTY RIGHTS
Jeb Bush, Florida governor, ratified a law which strengthens the rights of private real estate owners in the state against possible action from local authorities. Bill HB 1567 enforces strict limits on the right of local governments to acquire private property through eminent domain or compulsory purchase.
After the ratified law, authorities using compulsory purchase to seize properties must offer to sell the property back to the previous owner as soon as it is no longer required by the authority itself. If the previous owner does not express interest on the property anymore, there must be a ten year waiting period before the property can be sold. The sale must follow a competitive bidding process.
Posted on: Florida
September 8, 2007
French charm offensive paying off
Property investors are recently advised to avoid some of the areas in Europe considered as investment hotspots before. Spain is one of these places. Property prices in Spain have risen in the past few years that the Brits are having difficulty looking for bargains.
In Bulgaria, homeowners can enjoy good weather and several tourist attractions like the beautiful beaches, but the holiday market is still undeveloped. This means that the buy-to-let investor can’t rely on a steady stream of income from holiday makers. This fact is not only true in Bulgaria but in other eastern bloc countries as well.
Locals have been quick to react to the flow of foreign property investors by raising property prices. This results to property rates tripling in the space of a year. This trend is a turn off for eastern European investors. They do not want to pay a high price for something that does not guarantee great returns.
Posted on: France
BULGARIAN PRICES SET FOR STEADIER INCREASE
Orlin Vladikov, head of the Bulgarian National Real Property Association, , has predicted that prices in Bulgaria will continue to rise but at a markedly slower rate than in 2004 or 2005. Speaking to the Bulgarian news agency BTA, Vladikov said that the drivers of prices now would be build-quality and infrastructure, pointing out that only very top-end properties in Bulgaria would approach the prices prevailing in more established European locations.
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Posted on: Bulgaria
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