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September 12, 2005
Florida’s weather: positive or negative for investment?
Even if certain destinations are prone to destructive weather conditions, it does not stop the British from investing in it.
One example is Florida. A top destination abroad for the Brits, it caused widespread destruction in the south-eastern portions of the United States in 2004. In spite of what happened, strong investment continues to pour in from the British who enjoy much of the sun and warm weather it offers when the hurricane season is not around the corner. For them, hurricane or no hurricane, Florida still remains a strong investment option abroad. Its property value and high returns outweigh possible damages brought by hurricanes.
Posted on: Florida
Weather The Make or Break of a Successful Overseas Property Investment?
At a time when hurricanes are causing widespread destruction across the southern United States and severe droughts are affecting Spain, can the property market continue to grow if demand from investors slows? A recent poll commissioned by The Property Investor Show (23-25 September, ExCeL London) reveals that 72% of potential investors are still considering buying abroad despite the bad weather conditions. In fact weather still tops the polls as the main pull factor for Brits buying abroad.
Florida, one of the top destinations for Brits buying abroad, escaped unscathed from Hurricane Katrina. Despite being a prime hurricane area, British enthusiasm for investing in Florida does not appear to have been dampened. Even following Hurricane Frances in early September 2004 Brits still flocked to the ‘sunshine state’ in search of an investment opportunity.
According to Adam Woolley, Marketing Manager at Property for Life selling property in Florida, “As yet I’ve noticed no effect on our business. I am certain people will continue to buy in Florida in equally large numbers, as the draw of great value property and high returns greatly outweigh the potential of hurricane damage.”
Posted on: Florida
August 11, 2005
Euro is a bargain for Brits buying in Spain
Buyers of Spanish property can now get a bargain rate right now as today’s rate of the Euro is at 1.45 to the Pound and the imaginary 1.50 exchange rate is improbable to be seen in the near future.
This is the opinion of currency expert, Alistair Sweetman, who is convincing British buyers of Spanish properties and other Euro zone countries to fix their currencies immediately before purchasing a property. read more
Posted on: Spain
July 31, 2005
Buying Turkish property explained: The buying process
Turkey’s beautiful coastlines are now becoming hotspots in the property market. Real estate buyers are not only those looking for a better lifestyle or holiday home but also serious property investors. According to Robert Nixon of Nirvana International, as Turkey has yet to join the European Union, many investors have seen a great opportunity to buy property now and wait as the property boom moves from other popular European countries.
Fortunately, the actual process of purchasing property in Turkey is a lot easier than in many other European countries. “Foreigners can purchase property and land in their own names without any difficulty,” says Nixon. However, investors should be aware that there are some restrictions on where to buy. According to Nixon, areas which are located in the countryside which are not under the control of a town or borough, known as municipality areas are off limits to buyers. Military zones are also prohibited.
Posted on: Turkey
July 20, 2005
Why Property in Spain Costs More This Week
There are a lot of questions and confusions on the buying market since the recent moves in the Sterling-Euro exchange rate on the UK buyers of European properties. Cries such as “What is happening to the Pound nowadays?” hounded across the region. This is just one of the question being heard at the dealing room of Halo Financial, a currency broker specializing in foreign exchange for clients and private investors.
The first five months of 2005 experienced the Sterling-Euro exchange rate increase in an organized manner, peaking at 1.5150 dollars and showing to those property buyers that they have a lot of assistance of currency specialist with the opportunity to get their money at the top of the game and to cover stage payment and delayed completion dates.
read more
Posted on: Spain
July 16, 2005
Buying property in Portugal
After making a verbal agreement to buy a Portugal property, the property lawyer should run thorough checks to ensure the title deeds and other documentation like the caderneta urbana (like an ID card for the property, defining its size, boundaries and rateable value) and the habitation license complies with all relevant building regulations, are in order.
Property buyers will need to obtain a fiscal number, and the buyer and the seller must then agree a promissory contract (contrato promessa de conipra e venda), which sets out the terms of the sale, including get-out clauses; agrees on how much is being paid and for what; and confirms purchaser’s commitment via a deposit - normally 10% of the purchase price. If a buyer break this contract the deposit is forfeited. If the seller reneges, he/she must pay the buying party twice the amount. When all the conditions set out in the promissory contract have been met, the sale can be completed, with the final deed (escritura) being signed by both parties in the presence of a notary.
Posted on: Portugal
Case study – Portugal
Pauline Willis and soon-to-be husband David King from Hertfordshire decided bricks and mortar in the sun are their retirement fund. Fed up with the prospect of a poor pension return and feeling the UK property market has peaked, they invested in a two-bedroom apartment at Praia D’El Ray, on Portugal’s Silver Coast, one hour north of the country’s capital, Lisbon.
“We’ve bought primarily for investment purposes, both for ongoing rental income and for capital growth,” says Pauline. “Over the past five years, property in Portugal has risen by 20 per cent per year, and our reason for buying now is we don’t believe the market has peaked.” The couple, who are marrying in June, plan to keep the apartment, that will be completed in 2006, in the mid- to long-term to maximise the capital potential, let it out to family, friends and colleagues, and use it themselves during the UK winter months - to escape the worst of British weather.
Posted on: Portugal
Portuguese Property market
Property in parts of Portugal rose in value by as much as 20% (annually) for the last five years, although more generally the market has been relatively sluggish. Queues of northern European buyers have ensured the Algarve remains a ‘hotspot’: with properties to suit most budgets depending on where one locates oneself and golfing facilities that ensure a lengthy tourist rental season. More recently the country’s Silver Coast and Costa Verde, north of Lisbon, started to take off too. read more
Posted on: Portugal
June 4, 2005
Bulgaria, Northern Cyprus, and Turkey Property Markets could be hit hard by EU vote
Eastern European states Bulgaria, Cyprus (north), and Turkey are popular with British and Irish property market investors. However, these countries could be hit hard by the troubles over the French and Dutch EU ratification/ referendum of “No” votes. Countries already in the EU bloc, like Southern Cyprus, are safer.
Votes by the Dutch and French people are clearly an indicator of EU excessive growth in its membership. There were warnings from experts that countries not yet part of the EU could be left out in the cold could experience severe effects on their economies and property markets.
Posted on: Bulgaria
June 1, 2005
Buyers Spending Billions in France
Famous for its wines and cheeses, romance, and beautiful landmarks, France continues to be in the top wish-list of destinations for new properties and second homes among foreign buyers. Picturesque holiday locations in the south painted with quaint, traditional hide-aways in rural France attract buyers in droves. Moreover, people are drawn to its weather, lifestyle, and relatively low property prices.
Taking these reasons into account it is little wonder that foreign buyers have spent literally billions of pounds on properties in the country in recent years. Figures from real estate company Cushman & Wakefield Healey & Baker reveal that total foreign investment in French properties stood at £8.43 billion, which increased from £2.4 billion in 2000, a large bulk of which originates from UK buyers.
Posted on: France
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