Expanding Italian economy means big things for small businesses

by Charly Italy Appassionata

Italian economy to grow by 0.7% in 2015 and 1.5% in 2016 (Bank of Italy)
Knock-on effect of expansion on small businesses being felt across the country
Newest luxury holiday home from Appassionata already impacting positively on local businesses

The expanding Italian economy is great news for almost all businesses (with the possible exception of debt collectors!), but it is on smaller businesses that its impact is being felt the most. Micro businesses and artisanal suppliers in rural areas, away from the opportunities created by big cities and mass tourism, have struggled over the past several years. Many of them are run by just one or two family members, with skills passed down to them through the generations.

The Bank of Italy has forecast 0.7% GDP growth for the country this year and 1.5% for 2016 and a fall of unemployment by 1.5% by the end of 2016. But these headline numbers mask the true tale of Italy’s small businesses. It is in areas like Le Marche where the impact of the expanding economy can best be seen at grass roots level.

In the charming Le Marche hilltop town of Petritoli, local resident Dawn Cavanagh-Hobbs is an excellent example of the impact that economic changes are having. Dawn runs fractional ownership holiday home company Appassionata with her husband, daughter and son-in-law. The company’s third fractional ownership project, the luxurious Casa Tre Archi, has proven popular with buyers looking for a taste of the ‘real Italy,’ rather than the touristy offerings of more commercialised destinations.

Now, the Appassionata team has just taken on its fourth project – the renovation and transformation of a house in the pretty hamlet of Patrignone. The decision has a knock-on effect for businesses in the local area. Builders and craftsmen have already been engaged to undertake some of the larger elements of the restoration and the scaffolding has already gone up.

As work progresses, Dawn will also commission a number of bespoke pieces to be manufactured by her key supply team – a collection of local craftsmen working from sheds and garages who alone or in pairs are producing some of the finest quality goods imaginable. Custom designed, exquisite chandeliers and slim, elegant wrought iron stair rails are two of the products that will be commissioned for the new holiday home. The lights are made by self-taught artisan Alfio Giuffrida, who spent his childhood playing at the feet of his mother and grandmother while they made lampshades. The stair rails come from the Brinci family, whose tiny blacksmith business has been running for more than 200 years. Other bespoke items will include pottery from brother and sister team Annamaria and Emanule Bozzi, with Grandfather Mario sitting at the pottery wheel to ensure the younger generations keep tradition alive.

Nor does the impact of the economic progress stop there. Appassionata’s fractional model means that owners get five weeks’ exclusive use of the property per year. With ten sets of owners each staying for a week, five times per year, that means 50 sets of flights, hire cars, spending money and so forth. The positive impact is felt by restaurants, cafés, local markets… all those small businesses that serve to give an area its character and its history. While the headlines talk about forecasts and percentages, this is the human way in which Italy is really growing – one tiny business at a time.

Casa Tre Archi has shares are available from £75,000. For more information visit www.appassionata.com or contact the Appassionata team on +39 33154 13225.

Berlin’s rent cap: 5 reasons why landlords are still onto a winner

by Charly Germany Property Frontiers

Rents in Berlin up by 9% in 2013/14 (JLL)
New rent cap allows for 20% rent increase every 3 years
20k new properties needed in Berlin every year (JLL)

Berlin is the first city in Germany to introduce a cap on what landlords can charge new tenants. The rent-control legislation has come into force in a bid to control some of the fastest rising rents in Europe. As a result, landlords in Berlin are now limited to raise rents by no more than 10 per cent above the local market average; a cap that was already in place for existing tenants but, under the new rules, has been extended to new tenants too.

Between 2013 – 2014 rents in Berlin increased by more than 9% according to Jones Lang LaSalle – making the capital home to some of the fastest-rising rents in Europe.

But whilst the rent controls are bound to bring extra stability for tenants, what does the cap mean for landlords? Here are five reasons why investing in Berlin means landlords are still onto a winner:

Tenants stay for longer

Rent controls discourage tenants from moving frequently because they have more certainty that prices will not rise too steeply, too fast. German tenancies are typically long anyway – in fact, they are generally open-ended. For landlords, this means that tenants can stay in their apartments for decades on the same contract – eliminating the cost and hassle of finding new tenants every 2-3 years, as is typical in the UK.

Substantial rental increases every 3 years

The cap means that rental increases will be restricted to 20% within three years, unless an event such as modernisation of the property has taken place that warrants an earlier increase. However, as any experienced investor will tell you, a 20% increase every 3 years is still considered a substantial gain.

New build properties are excluded from the rent cap

Many investors are switching their focus to new builds in Berlin, which are excluded from the rent cap, such as the brand new buy-to-let opportunity at Stadtpark Steglitz from leading buy-to-let specialists Property Frontiers. The collection of studios, one, two and three bed apartments has been hugely popular amongst those looking for excellent capital growth potential and as new build apartments are excluded from the rent cap, it means landlords can maintain a healthy rental income.

Berlin’s housing market continues to thrive

Despite the rental cap, investors can still expect their buy-to-let property to get snapped up quickly, due to high demand for accommodation thanks to a growing population and shortage of properties available. According to estimates by Jones Lang LaSalle, at least 20,000 new apartments p.a. will be required over the next few years to return equilibrium to the residential market.

Keeps the city affordable

Although rents in Berlin are still low compared to other European cities, the rent cap is vital to keep the city affordable for lower-income residents. The rent cap will ensure that Berlin does not become another priced-out city like London or Paris, both of which are forcing tenants with lower incomes to seek properties outside the city because they simply cannot afford the rent in prime areas. The rent cap will maintain a healthy rental market and should not have a dampening effect on new build properties.

For further details, visit www.propertyfrontiers.com or call the team on +44 1865 202 700.

Costa Almeria tourism tipped to get a boost from Game of Thrones season 6 filming

by Charly Spain Kyero.com

Key filming locations in Costa Almeria revealed
Holiday rental prices set to benefit from the Game of Thrones effect (Kyero.com)
Season 5 set UK ratings record for Sky Atlantic

Spain is once more in the grip of Game of Thrones fever, with thousands of potential extras queuing up in Girona this month for the chance to be part of George RR Martin’s epic fantasy world as filming for season six takes place in Spain. The filming will move from Girona to Navarra and then on to the seaside location of Peñiscola during September.

In October, the film crews will head over to the stunning Costa Almeria region, where work is already underway preparing scenery in areas such as El Chorrilo de Sierra Alhamilla (Pechina), where the construction of a settlement featuring huts around a church is rumoured to be underway.

The filming of season five, which set ratings records when shown on Sky Atlantic earlier this year, attracting a 6.7% share of the UK audience, has had a marked impact on tourism in areas where it was filmed. These include the Spanish city of Seville and nearby Osuna. Companies have sprung up offering tours of filming locations and interest in the area has attracted fans from far beyond the local region.

With filming for season six well underway, the impact on Costa Almeria filming locations is hotly anticipated. Martin Dell, Director of Spanish property portal Kyero.com, which lists more than 200,000 homes from 3,000 estate agents, including a range of holiday rentals in Costa Almeria, comments,

“We’ve seen a huge boost in tourism as a result of the filming of Game of Thrones in other areas of Spain, as well as in its headquarters in Northern Ireland. Fans love to be able to visit the areas that they’ve seen form part of the series and chosen locations definitely benefit. I wouldn’t be at all surprised to see rental prices rising along the Costa Almeria once season six airs and it is subject to the Game of Thrones effect.”

According to Almeria City Council, the Carboneras municipal stadium will host the film crew and the 400 extras who will be used in filming on October 18 and 19 in the Paraje de Mesa Roldan in the Natural Park of Cabo de Gata-Nijar. Other local sites tipped to be included in the popular series are the Rambla del Cautivo the Almeria Citadel and the Chorrillo de Pechina, where extras will include more than 100 Almeria-born horses, as well as the hundreds of locals keen to be a part of the epic series.

According to data from Kyero.com, average holiday rental prices in the Costa Almeria are currently €643 per week, with apartments accounting for two thirds of all rentals. The most popular locations are Mojacar, Vera and Arboleas. The area is most popular with holidaymakers from the UK, France and Germany, though it also has double the usual proportion of visitors from Belgium and Sweden. It will be interesting to see just how the huge impact of Game of Thrones will affect these statistics over the coming year, as the excitement regarding the latest season builds.

For further details on properties to rent and buy across Spain, visit www.kyero.com.

Overseas Property Show set to make a splash in Crawley

by Charly World Ideal Homes Portugal

2015 tour to arrive in Crawley on 26-27 September
Portugal, Cyprus, Spain, Italy and Florida to be showcased during bumper 2015 show
UK buyers look for sunshine overseas as autumn weather sets in at home

The hugely successful Overseas Property Show is soon to arrive in Crawley as part of its 2015 national tour, with a bumper two day event held at the Arora Hotel Crawley from 26-27 September. The show will present properties from Portugal, Cyprus, Spain, Italy and Florida to UK buyers. The huge range of properties will include everything from penthouse apartments with roof terraces for sun lovers to beachfront apartments with pools for water babies!

Chris White, Founding Director of boutique real estate agency Ideal Homes Portugal, which will be exhibiting at every show, comments,

“Much of Europe is a buyer’s market at the moment, so far as UK property buyers are concerned. In Portugal, buyers have a wide choice of villas with pools or beachfront apartments, all for the same price as a shabby inner city terrace house in many parts of the UK. Over in Cyprus, it’s quite incredible to see what you can get for your money. It’s a really exciting time to buy overseas.”

The free to attend Overseas Property Show is about more than just buying a home though. It’s also about speaking to those who have lived and worked overseas (as well as bought property there) in order to understand what life is really like when you’re faced with 300+ days of sunshine per year.

Many of those who attend the Overseas Property Show do so with a notion of moving overseas one day, either in the near future or when they retire. Speaking to local experts about the benefits of life in the sun, as well as the pitfalls to avoid, can be incredibly useful in informing such plans. From taxes to inheritance to pensions – no subject is off limits when it comes to asking for information and advice.

Even those with no desire to leave the UK can benefit from attending, as rental properties in European hotspots can be an excellent way to generate income and enjoy capital growth over the longer-term.

Whether it’s advice, guidance, a second home or even a commercial property investment that you’re after, the Overseas Property Show is the place to be in Crawley this 26-27 September. From a penthouse apartment with pool and BBQ area in Portugal, to a Sea Caves villa in Cyprus to a sun-kissed, front line villa in Spain, the Overseas Property Show has it all.

Tickets are free to obtain and full details can be found at www.theoverseaspropertyshow.com.

“It’s going to be an incredible show,” concludes Chris White. “UK buyers are eager to know just what buying a property abroad really entails and that is precisely why the Overseas Property Show is here to help. It’s a fantastic way to start turning that dream of winter sunshine into a reality.”

For further details visit www.theoverseaspropertyshow.com, call (0800) 133 7644 / +351 289 513 434 or email info@theoverseaspropertyshow.com.

Buy now while you still can – Taylor Wimpey España sales figures double in a single year

by Charly Spain Taylor Wimpey Espana

5 developments sold out completely this summer
August 2015 sales figures double those from August 2014
Last few Mallorca properties selling fast

It has been a bumper summer for leading Spanish homebuilder Taylor Wimpey España, with August 2015 resulting in double the sales achieved in the same month last year. Speaking from the company’s office on the sun-kissed island of Mallorca, Sales and Marketing Director Marc Pritchard comments,

“It’s been a really good summer this year. Five of our developments have sold out completely, while early phases of four others have also sold out. It’s been at least five years since I’ve experienced such an intense level of enthusiasm for Spanish property. August was the icing on the cake – sales figures hit twice the levels that they did the year before.”

According to Taylor Wimpey España it is British and German buyers who are most actively buoying up the sales figures, with Scandinavian and Belgian buyers also contributing significantly. British buyers showed year to date growth of 37% in August, while German buyers shot up by 160%, almost entirely based on property sales in Mallorca.

Despite such a strong summer drawing to a close, sales figures remain high at Taylor Wimpey España, with properties in Mallorca still selling fast. Key-ready apartments remain available at Cala Anguila II in Porto Cristo (prices from €230,000) and at Costa Beach in Port Vell (from €242,000). Both developments enjoy privileged locations with direct beach access and feature communal pools and prettily landscaped grounds. The apartments and townhouses have been designed to make maximum use of outdoor space, with balconies, terraces and private gardens ensuring that owners can enjoy the sun to their hearts’ content.

For buyers looking to purchase properties in mainland Spain, both La Vila Paradis and Brisas de Alenda Golf on the Costa Blanca have newly released phases available, while over on the Costa del Sol La Floresta Sur near Marbella and Miraval at Mijas are both perfect for keen golfers.

“The sales rate is still extremely high at the moment,” continues Marc Pritchard. “We would definitely advise those thinking of buying a second home in Spain to act sooner rather than later, if they want a good selection of properties to choose from, particularly those buyers looking at an island-based property.”

Mallorca is a popular location for second homes, with German and British buyers especially drawn to the charming island. In the summer, it provides a packed, fun-filled holiday location for the whole family, while during the off-season months it is delightfully peaceful, allowing second home owners to enjoy the tranquillity of the beaches and the mountains for a truly relaxing experience.

Even in January the average temperature on Mallorca is still 10°C, which is highly appealing to those from colder climes. With autumn very clearly approaching, the appeal of a bolthole in the sun becomes more apparent almost daily. If the summer sales figures are anything to go by, buyers looking for a high spec second home from Taylor Wimpey España need to get their inspection trips booked ASAP!

For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.

Winter sun away from the crowds – short-haul suntraps for British second homebuyers

by Charly World Appassionata, Ideal Homes Portugal, Kyero.com, Lalzit Bay Resort & Spa, Taylor Wimpey Espana, Universal21

Wettest August on record sees Brits looking for sunshine overseas
Canary Island apartments less than €500 per week (Kyero.com)
8 bed Algarve villa almost half price at €540k (Ideal Homes Portugal)

Predictions of a hot August for the UK, made in such a carefree manner in July, didn’t quite come to fruition. Instead, the month ended with bookmaker Ladbrokes simply stopping taking bets on August being the wettest on record. Enough said.

With the UK having endured another soggy summer, many individuals are turning their thoughts to sunshine overseas and checking out short-haul flight prices to see how quickly and cheaply they can transport themselves to the nearest suntrap.

Spain is a popular destination for sun seekers at any time of year. Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España, comments,

“The Spanish Costas are a perfect place for enjoying some winter sun. Easy to get to and with a low cost of living, they’re great for those looking for a second home that they can regularly fly to in order to top up their vitamin D levels. The Spanish islands are also fantastic, particularly Mallorca, which has an agreeable climate throughout the winter months.”

Cala Anguila II in Porto Cristo, Mallorca, features two bedroom apartments costing from €230,000. Located next to the idyllic coves of Cala Anguila, Cala Romántica and Cala Mandía, the development includes ample gardens, a large swimming pool and a private sunbathing area.

“The Canaries are another great place to catch some winter sun,” comments Martin Dell, Director of Spanish property portal Kyero.com, which covers sales, long-term rentals and holiday lets. “You can get some really good value rental accommodation there off-season – there are several apartments in great locations for less than €500 per week.”

Spain’s nextdoor neighbour Portugal is also a great place to take in some winter sun. In the southern Algarve region, there are still plentiful bargains to be had when it comes to second homes. A contemporary two bedroom townhouse close to the new Amendoeira Golf Course (Faldo/O’Connor) is available through boutique real estate agency Ideal Homes Portugal for just €185,000, while a magnificent eight bedroom villa on the outskirts of Albufeira is available for €540,000 (reduced from €950,000).

Italy’s Le Marche is another lovely option during the winter months and easily reachable from many UK locations thanks to the region’s busy Ancona airport. Dawn Cavanagh-Hobbs of luxury fractional ownership holiday home company Appassionata comments,

“Le Marche is a wonderful place during the winter months. There’s plenty of space to relax in peace and with our latest luxury townhouse, Casa Tre Archi, you can also dip in and out of town life at your leisure. For sunny days, the property’s large roof terrace is just perfect for making the most of the good weather. Part of the joy of fractional ownership in this part of Italy is the fact that you get to see how beautiful the area is in every season.”

Fractions in Casa Tre Archi are available from £75,000 for five weeks’ exclusive usage per year. The model has proven popular for the family-run Appassionata team, who have just begun renovation work on their fourth property in the area.

A short boat ride across the Adriatic Sea is Lalzit Bay Resort and Spa in Albania. Another convenient choice for a short-haul winter sun destination, Albania enjoys mild winters, with temperatures averaging a low point of 7°C in January. Lalzit Bay is one of the most attractive stretches of coast along the Adriatic and the resort is privileged to enjoy its own private beach. Properties available include high-end apartments and villas, with a full management service available to all owners.

Those with an extra hour or two to spend in the air can enjoy the sunshine of Turkey this winter. The meeting point between East and West, Istanbul is a fascinating city that captivates all those who visit. The Oceanic Bay View villas there, available through Universal21 from $1,595,000, offer eco-friendly detached homes with swimming pools, exquisite design and the latest in smart home technology.

Whether it’s the beaches of Spain that you crave or the fast-paced city life of Istanbul, it’s time to accept that the UK summer is over and start sorting out some winter sun overseas.

For more information please contact:

Taylor Wimpey España: +44 08000 121 020 or www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.

Kyero.com: www.kyero.com

Ideal Homes Portugal: 0800 133 7644, +351 289 513 434 or www.idealhomesportugal.com.

Appassionata: +39 33154 13225 or www.appassionata.com.

Lalzit Bay Resort & Spa: +44 845 125 8600 or www.lalzitbay.com

Universal21: 0203 287 8700 or www.universal21.com

Student safety new Government priority as record number of university places are confirmed

by Charly United Kingdom Collegiate AC

One in five students fall victim to crime whilst studying at college or university (NUS)
Business Secretary Sajid Javid orders inquiry to ensure universities provide a safe environment for all students
Collegiate AC properties offer inclusive security features to enhance residents’ safety

Channel 4’s latest social experiment ‘Hunted’ premiered last week, exploring the power of surveillance in today’s society. With the programme highlighting the increasing importance now placed on this essential technology, for university students about to move into their accommodation for the start of term, the inclusion of such features in their new home may offer just the peace of mind they need.

Statistics released by the National Union of Students (NUS) show that one in five students today fall victim to crime whilst studying at college or university. With more university places confirmed this year than ever before, security necessities including CCTV are high on the priority list for both new and returning students as well as their families.

Collegiate AC, the leading provider of luxury student accommodation in the UK, places the safety of their residents as central to their offering and utilises specific features and the latest technology in order to ensure that this is facilitated.

CEO of Collegiate AC, Heriberto Cuanalo explains,

“When moving into your student accommodation, you want to trust in the security of your possessions as well as your own personal safety. At Collegiate AC, our residents’ safety is our main priority and we provide a selection of additional facilities in order to ensure this. From CCTV and onsite management teams to secure electronic access and a student helpline, our properties provide the necessary security features so that all residents can feel comfortable and relaxed in their new home away from home.”

And student safety is today a hot topic. The subject has been in the spotlight this week with Business Secretary Sajid Javid ordering an inquiry into sexist behaviour at British universities. With UCAS figures showing that 57,000 more women than men are about to start university this term, the significance of all students’ safekeeping has to be addressed and Javid explained that this would be the focus of the inquiry. He announced that the government will “ensure that universities have a plan to stamp out violence against women and provide a safe environment for all their students”.

With the majority of students spending most of their time either on campus or in their accommodation, the new inquiry will highlight the importance of safety precautions in these areas. Cuanalo goes on to further explain how Collegiate AC properties are themselves addressing this,

“For students’ own peace of mind, as well as for the reassurance of their families, contents insurance is provided by Endsleigh as part of the inclusive room rate that is standard in our properties, just another of our safety features. With more and more students attending university, it is important that each individual still feels comfortable and safe in their new environment and we will do all we can to make sure this is the case for all our residents.”

One such Collegiate AC property that offers an array of safety features is St Augustine’s House. Plymouth’s luxury student residence not only boasts CCTV but also features a private bike storage unit so that those with two wheels can rest easy knowing their ride is secure. The property also offers students a 24-hour helpline and the services of an on-site management team.

Knowing who to contact if ever an issue arises can be a comfort to many students throughout the academic year and at many Collegiate AC properties residents have the choice of face-to-face communication or help via the phone. Glasgow’s beautiful Claremont House has a building manager on-site during the day who can help residents with any queries or concerns they may have, as well as an emergency out-of-hours service that provides students with 24 hour support and advice and CCTV in the communal areas.

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

OPP hosts London networking day for developers and agents

by Charly World OPP

Overseas Property Professional (OPP) is hosting an International Networking Day in London this October.

The all-new event, held in conjunction with The Property Investor Show on Friday 9th October, will match international developers and master agents with a hand-picked selection of top agents and brokers. A series of highly organised one-to-one meetings and informal networking options will showcase new international property opportunities and generate business relationships between foreign property suppliers and sellers.

“We are international property professional match-makers and it’s a job we cherish,” comments OPP Events Director Alexandra Cook, “pairing dedicated Developers/Master Agents to the best possible agents to ensure a fruitful (loving!) relationship blossoms.”

OPP Events allows preference-based matching of international and local delegates, providing a fast, efficient route into new markets for international developers and new products for companies to sell to their local market.

Meetings will be scheduled in 30-minute slots at London’s Excel Centre, with tables and chairs provided. Delegates can either stay at the meeting point to talk or move elsewhere for extra comfort or privacy.

Participants will receive at least six face-to-face meetings and a full contact list for follow-up.

Working alongside The Property Investor Show, OPP chose London for the first of these new events because of the city’s continued and increasing position in the global property market. As the strength of the pound is so strong, the event provides developers with the perfect opportunity to harness a growing investor market.

“In the run up to the event, our team will be busy scheduling your meetings for you – all you have to do is turn up at the right time! We’ll email you details and timings of your meetings in advance and even provide you with a mobile application to help you keep organised on the day,” continues Cook.

A catered lunch, sponsored networking drinks and an optional night out will provide an informal setting for delegates to develop relationships, forge friendships and create commercial partnerships with those they meet.

The provisional timetable for the day is as follows:

10.00-10.30 Arrival & Registration

10.30 to 13.30 Organised Meetings

13.30 to 14.30 Catered Lunch

14.30 to 18.00 Organised Meetings

18.00 to 19.00 Networking & Drinks

The full price for developers is £995. The exhibitor price is £555, plus £95 for extra attendees. The fee for local participants per event is £45.

For more information, visit www.opp.events or follow @OPP_Events on Twitter.

ENDS

For further comment, please contact:

Alex Cook, OPP Ventures

Tel: 44 (0)207 952 7203

Email: alex.cook@opp.ventures

Address: 24 Jack’s Place, Shoreditch, London, E1 6NN

New development takes Wembley Park by storm – welcome to Alto Apartments

by Charly United Kingdom

Alto Apartments officially launched on 10 September 2015
Next phase in exciting revitalization of Wembley Park underway
Development will eventually provide 5,000 new homes for Londoners

Residents, local dignitaries and journalists gathered together yesterday (10 September) to mark the launch of the newest phase of the considerable Wembley Park revitalisation work being undertaken by London developer Quintain: Alto Apartments.

The striking towers of the one, two and three bedroom apartments, designed by architects Flanagan Lawrence, will set a new benchmark for sophisticated urban living in one of the best-connected areas of London.

An interactive marketing suite and two brand new show apartments opened their doors for the launch, providing those in attendance a glimpse at the fabulous bespoke interior design and high specification appliances that Alto will encapsulate.

Alto Apartments will deliver a further 362 homes to the market, following the 1,000 being built as part of earlier phases (525 of which are already finished and occupied). In total the 83 hectare site will provide 5,000 new homes for Londoners.

Within Alto, the first release of the superb Pienna Apartments was launched on 10 September, as part of the well-attended event. Offering stylish homes set across a private residents’ landscaped courtyard, with 24 hour concierge, fully equipped gym, studio room and spa treatment rooms, the 133 one, two and three bedroom Pienna apartments will be equipped with state of the art Siemens appliances and finished to the highest specifications, with designer kitchens, bespoke bathrooms complete with wall-embedded towel rail warmers and generous living and storage space.

Most apartments have their own private outdoor space or a balcony that looks either onto the residents-only water gardens or across the open spaces of Elvin Square Gardens. The higher floors also have views over the iconic arch of Wembley connected by EE*

Quintain’s COO James Saunders, who was one of those present at the Alto Apartments launch, comments,

“It was wonderful to see such a good turnout at yesterday’s event. The launch of Alto marks a key milestone in the work that we are undertaking to create a fantastic new London community here at Wembley Park. Schemes of this size are incredibly complex and I am delighted that just over a decade into the development, we are on track to present not just 5,000 homes but also a range of cultural and retail activity options as part of a vibrant new community.”

The work has already included the redevelopment of The SSE Arena, Wembley and the provision of the LDO shopping and leisure complex, the Hilton London Wembley and a much-needed 661 bedroom student accommodation scheme.

Prices at the newly launched Pienna Apartments start at £375,000 for a one bedroom home and £495,000 for two bedrooms. Car parking spaces are also available at additional cost.

For more information on the development and latest availability and to book a time to visit the new show apartments and marketing suite, visit www.alto-apartments.com or call the on site Savills Sales team on +44 20 3151 8601.

* Wembley Stadium is the property of The FA Group and run by Wembley National Stadium Limited, a subsidiary of The Football Association.

Holidaymakers favour private rental market – is now the time to buy that Spanish buy-to-let?

by Charly Spain Kyero.com

14% of tourists opt for private houses and villas (Esade)
Invest in the best areas from €74k (Kyero)
1/3 of tourists won’t holiday in an area without rental properties (Esade)

The rise in popularity of private rental properties is leading many investors to take a long, hard look at Spanish property. According to a study by Esade, Fevitur and Salvetti & Llombart, 14% of tourists who visited Spain last year stayed in private houses and villas. This equated to some 3.7 million individuals, who between them spent €900 million on their accommodation. The survey further revealed that a third of tourists would not consider holidaying in an area that did not have holiday homes available.

Martin Dell, Director of Spanish property portal Kyero.com, which lists more than 200,000 homes from 3,000 estate agents, observes,

“Hotels still take the top spot when it comes to tourist accommodation, but there’s no question that holidaymakers are becoming increasingly enamoured with rental properties. Renting a villa or an apartment provides you with a real home from home, with so many more features than a hotel. Having full kitchen facilities while on holiday is a must for many families and the added privacy that a villa provides over a hotel is a real attraction.”

Investors looking at buying a rental property in Spain are advised to do their homework. Recent changes to rental licences have led to a rather patchy regional approach to the regulations. Richard Speigal of España Breaks explains,

“There were big problems with holiday rentals being unlicensed, untracked and (ultimately) allowing a situation where foreign owners paid no tax on their income. Central government pushed responsibility for licensing to the regions and we’ve ended up with a very mixed picture. Some regions are doing a great job, making it easy for owners to register their property and creating good schemes to get some uniformity into accommodation standards. Some less so.”

When implemented well, licensing can be excellent news for holiday rentals market, as shown by the French gîte system. The Spanish system has some way to go, but buyers who do their research and opt for areas with well-run licensing systems can look forward to the prospect of healthy returns.

According to Kyero.com, median long-term rental prices have reached €650 per month, while weekly rental rates stand at €550 per week across Spain nationally. At the ultra luxury end of the market, prices have been seen rising to €60,000 per month and €40,000

per week, though the standard of property that can command such income is rather beyond the reach of the average investor!

To show investors the kind of properties that tourists are demanding, Kyero.com has prepared a quick round of available properties up and down the country, based on the best locations to go for popular holiday activities, where tourists can rent their way around Spain to enjoy the best of everything that the country has to offer.

Crisscross Spain for the best of the best

For the best tapas, head to Madrid. A stylish, two bedroom/two bathroom apartment with shared pool in the city can be picked up for €399,865.

For both the best architecture and the best shopping, it has to be Barcelona. A five bedroom/two bathroom apartment in the Gothic Quarter is available for €510,000.

Seville is home to some of the very best Flamenco in Spain. A six bedroom/six bathroom villa with private pool will set you back a cool €2,500,000.

The best sherry is to be found in Jerez de la Frontera, where tours of sherry bodegas abound. A front line townhouse with terrace and roof terrace costs just €74,000.

Asturias is home to some of Spain’s best beaches and beyond the sights of the hordes of tourists who head for the Costas without considering the alternatives. A cliff top villa overlooking the sea is available for €260,000.

Valencia is the (very much debated!) best location to go for truly authentic paella. A designer penthouse with roof terrace can be purchased for €600,000.