With just a fortnight until the Brexit referendum, what is the final push doing to the pound?

by Charly United Kingdom easyMarkets

Pound-dollar exchange rate down by 2.1% between 26 May and 3 June (easyMarkets)
A Brexit may shave 3.5% off UK GDP by 2020 (Institute for Fiscal Studies)
Euro-pound exchange rate rising sharply, a sign of things to come should Brexit occur (easyMarkets)

Britain’s European Union (EU) referendum debate shifted into high gear last week when the pro-Brexit campaign took the lead in the polls for the first time ever. The British pound was one of the biggest casualties, a trend expected to continue should voters continue to lean in favour of Leave.

After months of campaigning, Brexit appeared to be a long shot, with Prime Minister David Cameron’s Remain camp holding sway in virtually every poll. That changed last week when at least ten polls published in the UK clearly showed Leave was now in the lead.

The pound-dollar exchange rate traded on the global market plunged from 1.4698 to 1.4384 between 26 May 2016 and 3 June 2016. That’s a massive 2.1% decline that rarely occurs outside of a major fundamental shift in the market. The euro-pound exchange rate also rose sharply over the same period, perhaps a sign of things to come should Brexit materialize on June 23.

A vote to leave the 28-member European Union would affect more than just the British pound. Experts are in general agreement that an exit from the EU would spell bad news for the British economy, at least in the short-term. The Institute for Fiscal Studies, a highly respected think-tank based in London, recently forecast that Brexit would shave 3.5% off UK gross domestic product by 2020, which could damage public finances by up to £40 billion.

With the EU remaining the single most important market for British goods, it is possible that small businesses would see their competitiveness diminished as a result of Brexit. The tax implications of Brexit and how they relate to small businesses would depend on many factors, including the nature of Britain’s future relationship with the EU. At a high level, not being part of the EU would eliminate Britain’s ability to influence the EU’s taxation system and other levies related to co-operative procedure and financial transactions, according to Simmons & Simmons Elexica’s Brexit: the tax implications.

However, it’s entirely possible that a weaker pound could offset the loss of trade competitiveness for UK businesses. Nikolas Xenofontos, Director of Risk Management at leading online trading services provider easyMarkets, comments,

“A weak currency could help the UK tourism sector, which accounts for roughly one-eleventh of GDP, weather the storm of Brexit. Nearly two-thirds of Britain’s inbound tourists come from EU countries. That’s equivalent to about nine million people. Maintaining their business is essential for Britain’s continued success in a post-EU environment.

“According to proponents of the aviation industry, Brexit would also severely reduce the availability of cheaper flights to and from the UK because it could affect existing air service agreements. Lesser business travel may also lead to fewer air links, making it costlier for travellers to connect to and from certain cities.”

In addition to a weaker currency, a Brexit could reduce bureaucratic red tape for domestic businesses. Pro-capitalist arguments suggest Britain’s relationship with the EU has created too much red tape. UK businesses have complained of suffocating regulations and highly restrictive employment rules from Brussels that make it difficult for SMEs and entrepreneurs to operate successfully. This sentiment is also shared by large businesses. A recent survey conducted by PricewaterhouseCoopers (PwC) found that four-fifths of UK executives said they were concerned about “over-regulation.” Another poll conducted by the Institute of Directors shows that 60% of its members want British parliament to reduce “unnecessary red tape” emanating from Brussels.

The impact of Brexit on matters related to housing and rent prices is subject to great debate. Vote Leave has repeatedly stated young people would find it more difficult to buy their first home if the UK remains part of the EU due to “uncontrolled” migration. As one might expect, the Vote Remain campaign has attacked this premise, claiming that most immigrants move into the private rented sector, which has created more competition for accommodation – something that benefits all of society.

One of the most hotly contested debates concerns the impact of a Leave vote on UK employment. Remain campaigners generally concur with the consensus that voting out of the EU would harm economic growth, thereby leading to higher unemployment. At the same time, stricter immigration laws could make it more difficult for UK businesses to source the right talent for high-demand roles at both ends of the skills spectrum. Economists argue that financial services and the automotive industry could face the biggest loss of jobs. A recent study conducted by PwC on behalf of CBI found that Brexit would lead to 950,000 job losses in total.

Most of these questions do not have a clear answer. In fact, it could take years before we find out the true impact of Brexit.

For more information about the upcoming vote, refer to the easyMarkets Brexit Q&A.

For further details visit www.easymarkets.com, email pr@easymarkets.com or call +44 203 1500 748.

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Second homebuyers champion Spanish construction industry as Brits rekindle their love for the Costa del Sol

by Charly Spain Taylor Wimpey Espana

Licenses for new homes in Spain increased by 57.1% in Q1 2016 vs Q1 2015 (Ministry of Public Works)
Nearly half of British buyers in Spain purchase property on the Costa del Sol (Taylor Wimpey España)
Last units available on the picturesque La Floresta Sur development (Taylor Wimpey España)

It seems Spain’s footballers aren’t the only ones preparing for a busy summer season, as those in the construction industry celebrate an encouraging start to 2016. The latest figures published by the Ministry of Public Works reveal that the number of licences authorised for the building of new homes in Spain amounted to 16,782 in Q1 of this year.

This is a substantial 57.1% increase when compared to the same period in 2015 and the best quarterly result recorded since 2011. Such a boom in residential construction is a direct result of the significant return of overseas buyers to the Spanish market. The demand from overseas buyers continues to grow, especially from those residing in neighbouring European countries.

According to the most recent data revealed by leading Spanish homebuilder, Taylor Wimpey España, the total YTD sales as of April 2016 have risen in comparison to last year, with British buyers increasing by 48%. As a growing number of Brits seek out their own slice of Spanish sunshine, it is the Costa del Sol that is proving most popular, with almost half of buyers choosing to purchase their property in that region.

Marc Pritchard, Sales and Marketing Director for Taylor Wimpey España, believes it will be a scorching summer for Costa del Sol property as momentum builds within the market. He explains,

“Construction within Spain’s residential sector is rising once more, as the demand from overseas buyers continues to strengthen the market. The Costa del Sol has always been a prevalent destination for Spanish holiday homes and is fast becoming the favourite once again amongst British second homeowners. As British buyers choosing Spain’s southern coastline increases, so too does the optimism surrounding the market and we would expect this positive trajectory to continue throughout the rest of the year.”

One of Taylor Wimpey Espana’s latest additions to the Costa del Sol skyline is the picturesque La Floresta Sur. Set in beautiful surroundings declared a natural biosphere reserve by UNESCO, this new phase of La Floresta Sur is situated near the village of Elviria and its beach, close to Marbella and Malaga.

Designed in a typical Mediterranean style, from just €202,000 +VAT, the 2 and 3 bed apartments and penthouses include an Italian-designed integrated kitchen with Silestone worktops, thermal and acoustic insulation and air-conditioning included. Benefitting from stunning views towards the oak and pine forest as well as towards the sea, the resort boasts two large communal swimming pools, landscaped gardens and external private parking.

Phase IV of the development is due to be completed this summer and the remaining units are now available with an exclusive special offer. Taylor Wimpey España are including a fully equipped kitchen, shower screen and lighting furnishings within the purchase price

With large terraces on which to enjoy the beautiful sea views, La Floresta Sur is a ten minute drive from two of the best known golf courses on the Costa del Sol, La Cala Golf Resort and Santa Maria Golf, and has direct access to El Soto Golf Club. It is also just a few minutes from the exclusive Nikki Beach Club.

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 244.

Spanish Special Part II: Iranians and Spaniards vie with Brits for Marbella’s top properties

by Charly Spain Panorama

More than 80% of properties purchased in Marbella are bought by foreigners.

The stark figure is one of many insights into Spain’s smartest city’s property market, revealed by the Marbella Property Market Report 2016, from Panorama Properties Marbella, the area’s longest established real estate agency.

The figure is vastly higher than the country’s average, with data from the Spanish Regsitradores showing that 13.18% of all properties purchased in Spain were by foreigners in Q4 2015. Of those, more than 60% were buyers from within the EU.

Christopher Clover, Managing Director of Panorama Properties Marbella, and a Fellow of the Royal Institution of Chartered Surveyors, as well as an international associate of Savills, comments,

“Buyers from the EU have been delighted by Marbella for many years and the area’s popularity continues unabated. While global events have made certain other resort destinations less attractive in recent years, Spain – and in particular Marbella – remains a safe, low-rise and high quality destination for those looking to enjoy its unique lifestyle and cosmopolitan nature.”

Iranian buyers emerging as new market for Marbella’s top properties

Clover continues,

“From 2016 onwards we also expect to see an influx of Iranian buyers thanks to the newly opened Iranian market. Marbella has been a popular tourist destination with Iranians for decades and the property market looks set to benefit strongly from that affection over the coming years.”

Brexit debate causing British buyers to put their love of Marbella on hold

While Iranian buyers are stepping up, British buyers in the lower price ranges, who for years have accounted for the largest market share of foreign buyers in Spain, are sometimes pausing when it comes to purchasing their dream home in Marbella. The distraction of Britain’s potential exit from the EU, which will be decided by referendum on 23 June 2016, has caused a few to hold fire on purchasing property in other EU countries. Assuming the UK remains within the EU, a surge of property purchases by British buyers in and around Marbella can reasonably be expected during the late summer months. From a medium to long term viewpoint, Clover believes that the trend of British purchasers for property in the Marbella area will not be greatly affected whether Britain stays in the EU or exits.

While British buyers stop and think, Spanish buyers are using the pause to gradually return to the Marbella property market. The number of Spanish residents visiting Marbella plummeted from well over 350,000 in 2006 to just over 100,000 in 2013, but numbers have since been rising, returning almost to 250,000 visitors in 2015. As Spanish visitor numbers pick up and the national economy continues to improve, so too will Spanish interest in the Marbella property market.

Those buying in Marbella right now are after a wide range of property types, which is precisely what the area provides. Within walking distance of the upscale Puerto Banús, properties can vary in price from €250,000 to well over €10 million, depending on the neighbourhood they are in. Panorama Properties Marbella has seen sales increasing across the board when it comes to property type, from the least expensive to the most, such as this chateaux style mansion in the heart of the Golden Mile, featuring indoor and outdoor pools, massage room, gym, cinema, park-like garden and plenty more (even the separate housekeeper’s house has four en-suite bedrooms and a two car garage).

Many buyers are looking for new build properties in Marbella, but with the cranes almost at a standstill for the last eight years, supply has dwindled. However, investment groups have been quietly buying up the best building sites over the past two years, so the coming five to ten years should see an influx of prime new build properties onto the market. This will include along Marbella’s Golden Mile to the west of Marina Puente Romano (called “El Ancón”), where planning is already underway for an ultra-modern beachfront residential estate, including five villas and 65 apartments.

With the cranes moving again and foreign interest in Marbella remaining strong, the future is looking bright for the jewel of Spain’s southern coastline.

For more information, visit www.panorama.es, email info@panorama.es or call (+34) 952 863 750.

Move over PCL, Greater London’s suburbs take the lead this summer

by Charly United Kingdom Surrenden Invest

Pockets of the UK capital still undervalued and can offer investors attractive opportunities (Surrenden Invest)
Rental yield in Mitcham is well above the London average at 6.1% (London Property Watch)
Brook House provides a rare opportunity for investors wanting to buy within Greater London (Surrenden Invest)

As London’s extreme house price growth continues to dominate market news, investing in the capital seems unreachable for many prospective buyers. However, with the knowledge of where to look, there are still areas within its suburbs that present enticing opportunities.

Jonathan Stephens, Managing Director of property consultancy Surrenden Invest, explains,

“The current London market is saturated with overpriced stock as PCL sales fall by 50-60%. Overseas investors have decreased dramatically, no longer prominent in propping up London’s new build market. However, it is not a disaster. There are pockets within the capital that are still undervalued and can offer investors exceptionally attractive opportunities. In the early stages of gentrification, Mitcham for example in south London, has the ability to become the capital’s next success story.”

Although Mitcham is only 7 miles south of the city centre, it appears to have been completely overlooked. Other suburbs much further out have enjoyed a property boom in recent years, yet Mitcham is still waiting for its moment. Its Zone 3 neighbour Tooting has experienced rapid gentrification during the past decade and some of the highest property increases in London, with the average selling price now reaching just above £625,000 according to the latest figures released by Home.co.uk.

However, these rapidly increasing prices are now causing the market to become inaccessible and subsequently creating a huge demand from young professionals who cannot afford to buy or rent in the more expensive areas. This demand is drifting to nearby towns and with recent London Property Watch figures reporting the average rental yield in Mitcham at 6.1%, well above the London average, its future looks increasingly bright.

To enhance the outlook further, a £6m regeneration project with an emphasis on town centre improvement is currently underway in Mitcham. Due to be completed in 2018, this will not only develop transport links and give the town centre a welcome makeover but also be of great support to local businesses.

Excited to witness the transformation, Jonathan continues,

“There is so much scope for improvement within the district and it’s really only a matter of time before savvy investors capitalise on its potential. However, it is not simply investors showing an increased interest in the area. We have been inundated with enquiries from young professionals and first time buyers who are hoping to call Mitcham home, highlighting further the impending demand for property as this London suburb evolves.”

Situated at the heart of Mitcham, Brook House is comprised of beautifully designed, luxury one and two bedroom apartments. Surrounded by luscious greenery and historic buildings whilst overlooking the Mitcham Cricket Green, Brook House development provides a rare and highly sought after opportunity for potential investors wanting to stay within London’s borders.

A short walk from the Mitcham Tramlink stop and Mitcham Eastfields station, Brook House is conveniently situated within easy commuting distance to the city whilst offering the benefits of living in London’s greenest borough. The apartments’ idyllic location has been celebrated on the big screen, featuring in Steve Coogan’s most recent Alan Partridge film, Alpha Papa.

With prices ranging from £220,000 to £300,000, Brook House boasts unrivalled facilities including a parking space for every apartment, beautifully furnished kitchens and bathrooms, spacious bedrooms, a communal area and an audio/video door entry system for added peace of mind.

For further details, visit www.surrendeninvest.com, email info@surrendeninvest.com or call 0203 3726 499.

Spanish Special Part I: New report reveals truth behind Spain’s most glamourous coastline

by Charly Spain Panorama

A new report has provided honest and detailed insights into the Marbella property market, giving an overview of everything from price trends to stock levels and the most sought after areas in the chic Spanish city.

The Marbella Property Market Report 2016, from Panorama Properties Marbella, the area’s longest established real estate agency, resists the usual inclination to view the market through rose-tinted glasses and instead delivers a well documented and experiencedassessment of the state of the sector. Christopher Clover, Panorama’s Managing Director, has been writing about the Marbella property market for more than 46 years. He is a Fellow of the Royal Institution of Chartered Surveyors, and Panorama is now the international associate agency for Savills in the Marbella area.

Christopher comments,

“With the 2016 Marbella Property Market Report, we wanted to produce in depth insights into how the market has fared since the 2007/08 bubble burst. There are some excellent headlines and much to celebrate, but there are also some cautionary notes within the report. The purpose was not to gloss over these factors but provide a thorough picture of where the property market in Marbella really stands.”

Marbella property sales up 9.83% in 2015

The headline figures are certainly positive. Marbella has enjoyed five years of recovery, with the volume of residential sales rising by 9.83% in 2015. The city has raced ahead of national performance thanks to its multi-country source market, which has positioned Marbella at the forefront of the Spanish property market recovery.

4,390 properties were sold in Marbella in 2015. The figure is less than 1% behind the 2006 pre-crisis boom year figure of 4,432. The rate at which sales volumes increased calmed somewhat during 2015, following the heady increases of 24% in 2013 and 28% in 2014, as pent-up demand (while buyers waited for prices to bottom out and then seized on the chance to buy bargains) for properties in Marbella has been satisfied.

Marbella property prices still 10-20% below peak levels

Interestingly, despite all those bargain hunters rushing to pick up their dream Marbella property in 2013 and 2014, there are still plenty of affordable homes on the market. Prices in Marbella remain broadly at around 20% below their peak, rising to just 10% to 15% below peak in the most desirable areas. Nationally, prices remain at 28.4% below peak levels, according to the Spanish Registradores.

The strong upturn in the Marbella property market is also highlighted by figures from the Colegio de Arquitectos of Malaga, which show a sharp increase in the number of completed residential construction projects in 2015, following years of steady decline.

High-end sales increased by 30%

The market’s return to life has been particularly noticeable for high-end properties, which are defined in the Panorama Properties Marbella report as those worth €4 million or more. Over 100 sales of such properties were completed in the greater Marbella area during 2015, up 30% above the 2014 figure.

Marbella’s market has grown for several reasons. The city enjoys a true twelve month season, with few other Mediterranean destinations able to rival it. The weak Euro, competitive pricing and low mortgage rates have all contributed, as have the potential for high yields and the perception of Marbella as offering a safe haven of quality within the EU.

The coast west of Marbella looks to be the most promising investment prospect for high-end properties in the next few years. The bellwether Sotogrande development was purchased by top US and European funds, Cerberus Capital Management and Orion Capital in late 2014, with a range of stunning projects planned to appeal to the wealthiest buyers.

Further evidence of investment in the high-end of the market was seen in January 2016, when La Zagaleta UK Ltd purchased the Valderrama golf club and nearby development land. Their initial investment of €40 million is set to be backed by a further €200 million of planned development over the coming decade.

From land plots to properties, price increase trends in Marbella look set to continue, making the city and surrounding area an excellent investment prospect for the years ahead. Mr. Clover highlights that although sales volume has picked up, prices still have a long way to go, and current price levels are around those of 2004. In his opinion, any property bought at today’s market price should provide excellent capital appreciation in the years to come.

Part II of the Spanish Special from Panorama Properties Marbella will focus on the people trends impacting Marbella’s property market, including Brexit, Iranian buyers and future forecasts. The release will be available from 07/06/16.

For more information, visit www.panorama.es, email info@panorama.es or call (+34) 952 863 750.

Viva el vino! Perfect Spanish homes for wine lovers: An oenophile’s guide to Spain from Kyero.com

by Charly Spain Kyero.com

Freshly compiled data from leading Spanish property portal Kyero.com has revealed the ideal second home locations for all those with a love of Spanish wine.

The world’s third largest wine producer and its biggest wine exporter, Spain has earned a loyal following around the globe for its robust reds, crisp whites and delightfully drinkable rosé wines. Now, Spanish wine lovers can take their passion one step further and pick up the perfect property as well as the perfect plonk, thanks to Kyero.com, the main source of trusted information on buying a home in Spain.

Martin Dell, Director of Kyero.com, comments,

“Many of those who visit Spain regularly delight in the country’s cuisine and particularly in the wines that are produced here. We wanted to take this one step further and look at how much it would cost to purchase a home in each of Spain’s main wine-producing regions. I think many people will be surprised to find out just how affordable it is to live in the perfect location for enjoying local Spanish wines within easy reach of the vineyards they came from.”

According to the Cámara de Valencia, La Rioja is “considered to be the foremost wine tourism destination in Spain and a world leader in the field.” The area is known for its vibrant and fruity and rosé wines and its distinctive, oak aged reds.

Yet according to the Kyero.com data, La Rioja is the joint cheapest wine region when it comes to purchasing property, coming in at an average of just €1,300 per square metre. Those on a budget can pick up a one bedroom, one bathroom apartment in the pretty city of Logroño – the autonomous community of La Rioja’s capital – for a mere €20,000. That’s the same price as just 70 bottles of the region’s priciest vintage, Contador.

Equally affordable, at €1,300 per square metre, is Cadiz province, in the Andalusia wine-producing region. Prices in the Andalusian city of Jerez de la Frontera – a name which fans of sherry will be familiar with – are even more affordable, at just €1,100 per square metre. But it’s not just bargain basement properties that can be picked up in Jerez. This six bedroom, three bathroom country house estate with swimming pool is priced at €768,750. The accommodation is split across two houses, with excellent equine facilities including stables, tack storage and a barn for hay and raising foals, as well as extensive meadowland and farmland.

Ourense province is the next cheapest wine region when it comes to property purchase prices, coming in at €1,400 per square metre. Home to the Ribeiro Wine Route and part of the autonomous community of Galicia, Ourense is known for its young, light wines full of fruity and floral notes. The whites are particularly good and make the perfect accompaniment to shellfish, cured meats and light cheeses – so perfect for an al fresco lunch in the Spanish sunshine.

Wine lovers looking for a base in Ourense will be delighted by this impressive finca, which comes with three hectares of vineyards and facilities to produce 70,000 litres of wine. It’s also ideal for nautical enthusiasts, being well located for enjoying the waters of the Miño Bar and Rivela areas.

Over in Burgos, one of just four provinces where Denominación de Origen Ribera del Duero wines are produced, property prices reach an average of €1,450 per square metre, according to Kyero.com. The area has more than 170 wineries and 18,000 hectares of vineyards, according to Berry Bros & Rudd. The reds rival those produced in La Rioja, with no whites permitted.

The Ribera del Duero region is famed for being home to Spain’s most expensive wine: Dominio de Pingus, which has an average Wine-Searcher listing price of $898. Not only is the wine produced from a tiny plot of extremely low-yielding tempranillo grapes, but the loss of 75 cases of the already-rare vintage in a shipwreck in 1997 saw the price nearly double.

For less than the price of just 37 bottles of Pingus, oenophiles can pick up an 18^th century country home surrounded by forest and rolling countryside in Burgos province. The €29,000 property includes three bedrooms and one bathroom. It is in need of total refurbishment. Two further houses on the same plot are for sale for €50,000, with the owners happy to negotiate for a quick sale, meaning a buyer with the right vision could bag an incredible bargain in this stunning region.

Vastly more expensive than the other regions is Spain’s priciest winemaking area: Barcelona province. Prices in the province as a whole are distorted by the high costs of real estate in the Catalonian capital city, meaning that the average price is €2,250 per square metre.

Catalonia’s wines are as fiercely independent as its people, according to Wine Enthusiast, with full-bodied reds coming from vines that soak up not just the sunshine but also the minerals of the granite, fractured slate and chalk soils in which they are grown.

Wine lovers looking to live close to the region’s vineyards will be delighted by this four bedroom country house with summer porch and pool at Vilafranca del Penedes, which is on the market for €450,000. The spectacular views extend for miles around – perfect for enjoying some of Spain’s best wines in the peace and fresh air of the countryside.

For further details on the perfect homes to buy in order to enjoy the wines of Spain, visit www.kyero.com. For the latest data on the state of the Spanish property market, visit data.kyero.com.

New luxury student accommodation arrives in Britain’s best city

by Charly United Kingdom Collegiate AC

Edinburgh named Britain’s best city for third year in a row (Telegraph Travel Awards)
Undergraduate applicants to The University of Edinburgh increase by 7.6% for 2015/16 academic year (UCAS)
Collegiate AC reveal new luxury student residence in prime Edinburgh location

From the medieval grandeur of the Old Town to the sweeping elegance of the Georgian New Town, Scotland’s historic capital city of Edinburgh has been named as Britain’s best city for the third year in a row. The Telegraph Travel Awards saw approximately 75,000 readers cast their vote on the nation’s cities and it was Edinburgh that came out on top once more.

Not only is it a wonderful city to reside in, but Edinburgh is also an inspiring setting for university students. The city is home to four excellent universities: University of Edinburgh, Edinburgh Napier University, Heriot Watt University and Queen Margaret University. As such it has a thriving student scene that continues to grow with each academic year.

When embarking on a university career, location is a key consideration for many students and it seems Edinburgh’s reign at number one is influencing student applications. According to recent UCAS figures, applicants to The University of Edinburgh for the 2015/16 academic year reached 59,255. That is a significant 7.6% increase on the previous year.

With two beautiful residences already available to Edinburgh’s students, Collegiate AC, the UK’s leading luxury student accommodation provider, has revealed a new offering at the heart of the city. Buccleuch Street benefits from a range of high quality facilities including a private gym, in-house cinema, games and common room as well as workrooms, high-speed broadband and Wi-Fi throughout the building.

Heriberto Cuanalo, CEO of Collegiate AC, is delighted to be increasing the company’s Edinburgh portfolio as more students are welcomed to this beautiful city. He comments,

“It’s not hard to understand why Edinburgh continues to be voted Britain’s best city. With so much to offer, there really is something for everyone and this vibrant city is fast becoming a favourite amongst both UK and international students alike. We are thrilled to be able to offer students another opportunity for a luxurious living experience, close to the University, and look forward to welcoming the first residents in September.”

Just a short walk from The University of Edinburgh and the city’s wondrous old town, Buccleuch Street is perfectly located with residents close to local cafes, bars and other amenities. Divided into brand new studio or four-bed apartments, all are stylish and comfortable with many rooms being blessed with an outstanding view over the Meadows and Pentland Hills. From £210 per week, each room boasts a spacious double bed, en-suite bathroom and plenty of storage space with a mix of private and shared kitchen facilities.

For more information, visit www.collegiate-ac.com or contact Collegiate AC on 01235 250 140.

Ecological Algarve holidays set to boom in light of new cycling and walking initiative

by Charly Portugal Ideal Homes Portugal

Single-day cycling and walking activities in Europe worth €35 billion (ANA)
Ecovia do Litoral takes those on foot or 2 wheels the full length of the Algarve coast
Rural ecological tourism resort available for €1.5 million in western Algarve national park (Ideal Homes Portugal)

The Algarve is Portugal’s most popular tourist destination. In the summer months, the country’s entire southern coastline comes alive: restaurants are full, bars are buzzing and shops are packed. The region’s population triples if not quadruples during July and August, thanks to the huge influx of international visitors and much of the population of Lisbon decamping south for the summer.

Then September rolls around and most of the tourists go home. A few shoulder season visitors keep the region ticking over for a month or so, but by early October the sunbeds are packed away, the bars and restaurants have let their summer staff go and an eerie peace descends on areas that were thronged with people just a few weeks earlier.

For those who own a second home in Portugal, off-season visits are ideal. Chris White, Founding Director of boutique Algarve estate agency Ideal Homes Portugal, explains,

“Those who visit the Algarve outside of the summer months are often awed by the stillness and beauty of the region. Unspoilt beaches, quiet restaurants and minimal traffic on the roads create a real feeling of calm almost as soon as you arrive. It’s a delightful contrast to the frenetic summer months.”

Of course those summer months also have their own appeal. The Algarve offers a lively yet safe environment for families looking to enjoy the sea, sand and sunshine on their summer break. In fact, the Portuguese government has just revealed plans for the Algarve to become recognised as “Europe’s safest tourist destination.” The ‘Algarve – A Safe Destination’ initiative will see national and local organisations working together to create a “sense of safety and security among foreign and national tourists alike,” according to Home Affairs Secretary Jorge Gomes.

Not only that, but a further initiative is set to balance out the seasonal employment fluctuations, at the same time as promoting the Algarve’s walking and cycling routes. While Portugal hosts many professional road races for cyclists, many visitors are unaware that the Algarve also offers a scenic cycle route – the Ecovia do Litoral (Eurovelo) – which runs the whole length of the southern coast. The route takes riders (and walkers) through richly diverse landscapes including working salt pans that are packed with wild flamingos during the winter months, butterfly-filled meadows and rolling farmland covered with orange trees, olive bushes, carob trees, fig trees and almond trees.

The Via Algarviana, the Rota Vicentina and the Rota Guadiana are also available to those looking to explore this beautiful region on foot or on two wheels. They offer an excellent way to keep active while on holiday and to catch some sunshine while seeing more of Portugal, whatever time of year it may be.

Ecological tourism in the Algarve offers some interesting opportunities and the new focus on promoting the cycling and walking routes in the region is bound to give this a serious boost. According to data from ANA Airports, Europe is experiencing growing demand for this kind of tourism, which is worth some €35 billion for single-day activities and €8.9 billion when it comes to trips with an overnight stay.

Those looking to be part of the Algarve’s ecological future can get involved for a mere €1.5 million with this wonderful ecological tourism resort. Set in the stunning Parque Natural da Costa Vicentina e Sudoeste Alentejano in the western Algarve, the resort consists of 6 hectares of land, a spacious three bedroom villa and a design project with approved tourist licence to create 16 detached villas, swimming pool, bistro, sports courts and children’s playground.

The eco-friendly design combines natural materials (ecological clay villas) with high-tech modern features to save energy (such as solar panels and a heat pump for central under floor and wall heating). The resort is ideally suited for those looking to build a rural business around walking, cycling, climbing, horse riding, swimming and surfing.

For further details call Ideal Homes Portugal on 0800 133 7644 or +351 289 513 434, email enquiries@idealhomesportugal.com or visit www.idealhomesportugal.com. You can also connect with the team at the free-to-attend Overseas Property Show (www.theoverseaspropertyshow.com) in Birmingham on 28 & 29 May and in Cheshire on 4 & 5 June 2016.

From neglected wasteland to desirable waterside residence – the story behind Manchester’s Wilburn Wharf

by Charly United Kingdom Surrenden Invest

City centre resident numbers in Manchester up by 83% in 10 years (Centre for Cities)
Manchester house prices up 15.83% in 5 years (Zoopla)
Investment in new Rivergate House development from just £158k (Surrenden Invest)

Just two years ago, Manchester’s Wilburn Street Basin was a neglected patch of wasteland. The three acre site had been forgotten for decades, despite its close proximity to Manchester city centre. It seemed a sad end after its frequent use back when it was built in 1864, as a mooring site on the River Irwell.

But all was not lost. Thanks to the farsightedness of a group of developers, Wilburn Street Basin is now well on the way to once more becoming an attractive and thriving area of Manchester. In just two short years, residential accommodation has begun to spring up on the site, with plans also including a range of offices, shops and smart eateries.

In summer 2014, the run-down land appeared unkempt and unloved. Now, construction crews are turning ambitious plans into reality for a range of luxurious new waterside homes and associated facilities.

The new homes back onto a large shopping complex with homewares and fashion stores on one side, with the Wilburn Street Basin providing serene river views on the other side. The pretty setting, and its location just a stone’s throw from Manchester city centre, position the site well for a return to the popularity it experienced during Victorian times.

Jonathan Stephens, Managing Director of property consultancy Surrenden Invest, explains,

“The Wilburn Street Basin area has so much going for it. It’s astonishing to think that it sat empty for so long when space is at such a premium so close to the centre of Manchester. The new buildings going up on the site are breathing life into the area once again – this historic part of Manchester is about to start a new phase of its history, going from neglected wasteland to highly desirable waterside living.”

Rivergate House enjoys a prime location on the new Wilburn Wharf site. The one, two and three bedroom apartments are just a short walk from the central business district, offering spacious homes for professionals and their families looking to be close to employment and yet enjoy the peace of waterside living once the working day is done. Investment opportunities in buy-to-let apartments range from £158,000 to £350,000, with projected 6.2% NET yields. Completion of the apartments is estimated for Q4 2016.

City centre living of this nature is becoming increasingly popular. According to Centre for Cities, the number of city centre dwellers across the UK rose by 37% from 2001 to 2011, following decades of decline as people opted for a life in the suburbs. Large cities are leading the trend, with resident numbers in their centres increasing significantly over the decade.

Manchester is leading the rest of the UK in respect of this growth. City centre residents there increased by 20,000 in the ten years to 2011, equating to growth of 83%. Yet only 7,000 new homes were sold in the city centre during the same period. With an average of 2.3 people per UK household, based on data from the Office for National Statistics, that meant a shortfall of homes for nearly 4,000 individuals.

The increase in demand was felt across the city centre housing market. In the last five years, according to Zoopla, house prices there have risen by 15.83% and the current asking rent has reached £1,069 pcm.

With so much pressure on Manchester’s central accommodation, it seems that Wilburn Street Basin’s reemergence as Wilburn Wharf is just in time and apartments at Rivergate House are presenting an increasingly rare opportunity for luxurious, waterside living in this highly sought after city centre.

For further details, visit www.surrendeninvest.com, email info@surrendeninvest.com or call 0203 3726 499.

Algarve celebrates 50 years of golfing history with ‘Golden Tees’ initiative

by Charly Portugal Ideal Homes Portugal

First Algarve golf course – Penina – opened in 1966
2 million rounds of golf played in the Algarve in 2015 (Algarve Tourism Association)
Stunning €4.9 million Quinta do Lago villa with pool is turning golfers’ heads (Ideal Homes Portugal)

Visitors to the Algarve are used to its golden sands and golden sunsets, but now Portugal’s most popular holiday destination is tempting tourists with another kind of gold altogether.

To celebrate 50 years since the opening of the Algarve’s first golf course (the Henry Cotton-designed Penina, in 1966), from June 2016 the region’s top courses will feature commemorative golden tee markers. Each visiting golfer will be given the opportunity to play from the specially commissioned golden tees as part of the summer’s celebrations of the role of golf in Portugal’s tourism heritage.

Golfing in Portugal has never been more popular. A record 1.2 million rounds were played in the Algarve in 2015 and 2016 has already got off to a bumper start, based on figures from the Algarve Tourism Association. Yet according to the KPMG Golf Participation Report for Europe 2016, Portugal itself is home to just 13,484 of Europe’s more than 4.1 million registered golfers. The figures show the importance of golf tourism to the Algarve’s tourist industry, as well as highlighting the popularity of the region’s courses.

Those courses are so popular that golf properties in the Algarve are some of the area’s most impressive and sought after residences. Celebrity owners rub shoulders with entrepreneurs both on the courses and off. Duncan Bannatyne, Peter Jones, Rubens Barrichello, Steven Gerrard and a whole host of other celebrities have bought houses in the area. Footballers in particular seem to have a soft spot for the region: Alan Shearer, Michael Owen, Teddy Sheringham, José Mourinho, Cristiano Ronaldo, Robbie Fowler and Gareth Southgate all own homes there.

Chris White, Founding Director of Algarve-based boutique estate agency Ideal Homes Portugal, explains,

“Portugal is unquestionably one of the world’s most beautiful golfing destinations and as such golf properties there are in huge demand. Properties with views over the region’s most famous courses – those at Quinta do Lago and Vale do Lobo – command serious price premiums due to their exclusive locations and superior finish and facilities. Golfers around the world aspire to own these villas. They are some of the Algarve’s most stunning properties.”

One such property is this delightfully presented five bedroom villa in Quinta do Lago, which is on the market for €4.9 million. The spacious, contemporary interior includes a two tiered lounge\TV snug with feature fireplace, kitchen, breakfast room, formal dining room, home cinema, games room and ample guest accommodation. Views are over Quinta do Lago’s South Course, while the south west orientation also allows for the enjoyment of the Algarve’s famous sunsets. A heated pool, Jacuzzi, landscaped gardens and outdoor dining area with built in barbecue complete the offering.

The Algarve is often seen as Portugal’s golden child due to its perennial popularity with domestic and international visitors alike. Blessed with more than 300 days of sunshine per year, the region is home to everything from gorgeous beaches and picturesque coves to rugged mountains and mile upon mile of sweet-scented orange groves. With 50 years of prestigious golfing history thrown into the mix, it’s an area that really does have it all so far as meeting the demands of modern tourism is concerned.

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