Time to check in permanently? Buying a second home is cheaper than staying in a hotel room!

by Charly Spain Taylor Wimpey Espana

Second home usage usually between 4 and 8 weeks per year (Taylor Wimpey España)
Average cost of overnight stay in Spain hits €124 in August (Trivago)
Costa Blanca second homes available from €155k (Taylor Wimpey España)

New data from leading Spanish homebuilder Taylor Wimpey España has revealed that buying a second home is cheaper than a hotel room. The astonishing insight is the result of average demographic and usage figures released by the Taylor Wimpey España team.

Sales and Marketing Director Marc Pritchard explains,

“Obviously we know all about the many advantages of owning a second home in terms of lifestyle benefits and convenience, but it is fascinating to see now that for the average buyer it actually works out to be more cost effective to buy a holiday apartment than to pay for hotel rooms. Yet another reason to buy that overseas property you’ve always dreamed of!”

According to the sales data, the average Taylor Wimpey España buyer is aged between 50 and 60 and uses their property for between four and eight weeks per year. Assuming a purchase age of 50 and six weeks’ usage (42 nights) per year until the age of 81 (the average UK life expectancy), the average buyer would use their second home for a total of 1,302 nights.

According to the monthly tHPI survey from Trivago.es, the average cost of an overnight stay in Spain was €124 in August. For 1,302 nights, that comes to a total of €161,448 (no accounting for price rises and inflation). A three bedroom, two bathroom townhouse on Taylor Wimpey España’s lovely Brisas de Alenda Golf development on the Costa Blanca costs from just €155,000.

Brisas de Alenda Golf is a private residential complex linked to the tranquil Alenda golf course, with views of the spectacular Sierra de las Aguilas Mountains. Perfect for long, lazy days spent relaxing in the sun, the development comes complete with private gardens and communal swimming pool. The Brisas de Alenda Golf complex also benefits from a clubhouse, supermarket and bilingual Spanish/English school. The pretty, historic village of Monforte del Cid is close by and the beach is just 15 minutes away.

Taylor Wimpey España’s Marc Pritchard continues,

“Not only is it cheaper to buy a second home than to use hotel rooms, there is also the fact that with a second home you are left with a tangible asset at the end of the purchase process, which is yours to do with as you wish. While there are of course ‘hidden’ costs to second home ownership, such as maintenance, insurance and communal fees, some of this can be offset against the fact that hotel room prices will rise over time.

“Many of our buyers see their holiday property as an investment for their children’s future, not just their own.”

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.

Epsom residents set their sights on homes abroad as the Overseas Property Show comes to town

by Charly World Ideal Homes Portugal

2015 tour to arrive in Epsom on 18-20 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 Epsom for the third show of its 2015 national tour, with a bumper three day event held at Epsom Racecourse from 18-20 September. The show will present properties from Portugal, Cyprus, Spain, Italy and Florida to UK buyers. It follows on from the 2014 show in the area, which enjoyed marked success.

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 Epsom this 18-20 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.”

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

Don’t let it escape – chase the summer sun overseas!

by Charly Portugal Ideal Homes Portugal

UK provides too little sunlight for healthy vitamin D levels (SACN)
Portugal’s Algarve voted best place to retire to (Live and Invest Overseas)
Glorious sunshine key reason for Ken and Marion Lamb to purchase in Algarve (Ideal Homes Portugal)

Another agonizingly brief British summer has rocketed past, with citizens up and down the country now reaching for vitamin D tablets and sun lamps, after the scientific advisory committee on nutrition advised that the UK simply doesn’t get enough sunlight to provide healthy levels of this essential nutrient. Some people are going one step further and chasing the summer sun overseas with a property purchase in Portugal.

Whether it’s for occasional use as a holiday home or the perfect property to retire to, owning a home in Portugal is a sure-fire way to boost your vitamin D levels. For Ken and Marion Lamb, the Algarve’s glorious sunshine was a key reason behind their decision to purchase a beautiful three bedroom home at O Pomar, in the sleepy eastern Algarve village of Cabanas.

The couple bought through boutique estate agency Ideal Homes Portugal after meeting them at a property show in Manchester. The Ideal Homes Portugal team had their lawyer at the show, meaning that the Lambs’ long list of questions relating to taxes, inheritance and pensions could be discussed in detail. A week later, Ken and Marion were touring the Algarve and viewing properties. Just five weeks after that, they took possession of their new Portuguese home.

Ken comments,

“I had no idea it would be this easy. Ideal Homes Portugal were fantastic – I would describe them as polished but definitely not pushy. We may decide at some point to buy a further property in Portugal but we would keep this apartment either way – it is a terrific investment.”

Owning a home in Portugal opens up a wealth of possibilities, including the option to retire there. According to the 2015 Retire Overseas Index list from Live and Invest Overseas, which ranks the best locations by taking into account affordability, adventure, cuisine and other factors, the Algarve is the best place in the world to spend your golden years. It is the second year in a row that the southern Portugal region has topped the ranking.

As well as couples, the Algarve attracts plenty of single retirees each year. According to Live and Invest Overseas’ Kathleen Peddicord, certain factors are particularly important to single women looking to retire abroad (many apply to men too). These include English-speaking expats, walkability, an active social life, personal safety, a rich cultural experience and opportunities for volunteering. Algarve towns and villages certainly provides all of these in abundance, as well as good food, good wine and those all-important 300 days of sunshine per year.

Chris White, Founding Director of Ideal Homes Portugal, comments,

“The Algarve is one of those special places that offers the whole package. It’s about the full lifestyle, not just one or two benefits. Being able to own a property in such an area is an exciting achievement, particularly when it means opening up the option to one day live there fulltime.”

A contemporary, two bedroom apartment with large communal pool in O Pomar, Cabanas, costs €177,500. A three bedroom townhouse on the same site, which also boasts a welcoming, English style pub and an excellent cocktail bar/restaurant run by a French and Portuguese couple, is available for €310,000.

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.

Foreigners in Turkish shopping frenzy as Istanbul stays on top

by Charly Turkey Universal21

Grand Bazaar in Istanbul attracts approximately 250,000 – 400,000 visitors daily (World Tourism Organization)
Turkish house sales to international buyers increase by 22% in H1 2015
Istanbul maintains top spot with 16.3% of total house sales

As the sixth most visited country in the world, Turkey’s tourism market is expanding, with shopping tourism becoming increasingly popular. The World Tourism Organization (UNWTO) has reported a rise in retail developments appealing to tourists, with Istanbul’s celebrated Grand Bazaar attracting between 250,000 and 400,000 visitors daily.

However, recent figures suggest that it is not only market trinkets and souvenirs that overseas visitors are returning home with; in many cases it is also their very own piece of Turkish real estate.

The latest report published by the Turkish Statistical Institute (TurkStat) shows that house sales to international buyers increased by 22% during the first half of 2015 alone. This frenzied shopping spree through Turkey’s property market highlights the current enthusiasm felt by those both buying and selling.

Throughout July this year, overseas buyers bought 2,027 properties, a growth of 37.6% in comparison to the same month in 2014 with Turkey’s most populous city, Istanbul, remaining the main focus for potential buyers. TurkStat data confirms that Istanbul is maintaining its spot at the top of the marketplace with almost 16.3% of Turkey’s total house sales in July.

Adil Yaman, Director of Istanbul’s leading property agency Universal21, comments on why Istanbul is generating so much global attention,

“Over the past decade, Istanbul has emerged as a global hotspot for both tourism and property investment. As the most recent statistics suggest, this trend looks set to continue as Istanbul’s housing market remains a firm favourite with international buyers.

“The significant rise in overall sales emphasises the growing excitement surrounding Turkish property and the confidence overseas investors have in the market. With demand for property still increasing, those in the industry have only positive predictions for the future, with Turkey’s housing market appealing to a wider global audience and continuing to blossom.”

One Istanbul development prompting overseas interest is Universal21’s Diamond Residence. Located in a quiet, relaxed area of the middle-class district of Old Beylikdüzü, Diamond Residence is just a 20-minute drive from the main Ataturk airport, a 10-minute walk from the major shopping centre of Marmara Park, and in close proximity to the beach and all amenities and restaurants.

Comprised of 148 beautifully-designed apartments of one, two and three bedrooms, there is a full range of excellent facilities available to ensure a luxurious and relaxed stay, including a fitness centre, vitamin bar, indoor swimming pool, children’s games room, cinema room and 24-hour security.

One bed apartments are priced from £57,000 / €78,000, with two bed apartments from £98,000 / €132,000. Find out about the rent guarantees offered to make this a perfect armchair investment!

For more information about Universal21, visit www.universal21.com or call 0203 287 8700.

Celeb spotting in Mallorca

by Charly Spain Taylor Wimpey Espana

Island is regular haunt of Spanish royal family
Claudia Schiffer owns home at Camp de Mar, Puerto Andratx
Live like a celeb with a second home from €359,500 (Taylor Wimpey España)

From the super yachts bobbing about off the coast to the luxury pads tucked away in the hills, Mallorca is a playground to the rich and famous. Many A-listers call the island home and many more delight in visiting it for their holidays.

Models, actresses, sporting heroes, royalty… all have been wooed by the balmy breezes and stunning scenery of Mallorca over the years. Agatha Christie wrote Problems at Pollensa Bay while holed up in Puerto Pollensa in the 1930s. Winston Churchill holidayed just along the coast from the same spot. Even Grace Kelly and Charlie Chaplin have visited the island.

Today, Mallorca continues to attract an impressive list of celebrity visitors. Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España and himself a Mallorca resident, explains the island’s enduring allure,

“The beauty of Mallorca is that it offers something for every occasion and mood. You can sit and gaze out at the ocean, watching the sun sparkle off the water and hearing nothing but birdsong and the water lapping against the shore. At the same time, you know that if you want the hustle and bustle of urbanity, with its shops, restaurants, bars and nightlife, Palma is the ideal city. Or if a few rounds of golf in the afternoon heat take your fancy, Mallorca offers that too. Then there are the water sports – snorkelling, parasailing, stand up paddleboarding, wind surfing and so many more. It’s a wonderful place for those who love the water.”

Claudia Schiffer is one celebrity with a home on the island, in the lovely Camp de Mar area at Puerto Andratx. It is one of a few select locations in which Taylor Wimpey España has chosen to develop its contemporary, high spec homes on the island. The company’s Camp de Mar Beach development offers easy access to the same local amenities that Ms Schiffer is able to enjoy, but at a price that you don’t have to be a catwalk queen to afford – key ready two bedroom townhouses start at €359,500.

Camp de Mar Beach offers direct access to the sands of Camp de Mar, just 50m away. The resort consists of two and three bedroom, Mediterranean style townhouses in a gated community, complete with verdant communal gardens and a pretty, curved swimming pool. Views of the sea are complemented by views of the fabulous Golf de Andratx course.

In addition to fashion royalty, Mallorca is well used to hosting actual royalty. King Felipe VI of Spain and his family regularly holiday on the island, enjoying its sunshine, relaxed atmosphere and plentiful historical sites. Other recent famous visitors include Claire Sweeney, Steve McFadden and Anthea Turner, while Andrew Lloyd Webber owns several homes on the island.

Michael Douglas and Catherine Zeta Jones are reported to be selling their villa on the island for a cool $60 million. But if that’s a little too pricey don’t worry – Taylor Wimpey España’s luxurious second homes are perfect for enjoying all that this wonderful island has to offer, from fabulous views to beautiful terraces to bask on.

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.

Home is Where the Heart is: UK student accommodation sector sees rise in cohabiting couples

by Charly United Kingdom Collegiate AC

40% of long-distance relationships do not last (IVillage)
Growing number of applications for joint student accommodation from couples (Collegiate AC)
Eirini and Rizos make Edinburgh’s Gateway Apartments student property their first married home

For those who are already in a relationship, moving away to university can spell make or break time. With thoughts of Freshers’ wild nights, making new friends, the pressures of study, not to mention the hardships that come with sustaining a long-distance relationship, this already difficult time can be made even harder for those with a boyfriend or girlfriend left behind.

Recent research released by IVillage has revealed that 40% of long-distance relationships do not last, and for those that will break up, 4.5 months in is the time that the split is likely to occur. The pressure that comes with making a relationship with a partner who stayed at home work can cause additional stress for new students, make them feel homesick far more readily, and mean that they return more often than they would have done otherwise – all of which can be detrimental to studies and newly formed university friendships.

Whilst the choice has always seemed to be to either break up pre-uni or attempt to navigate the relationship from afar, often unsuccessfully, there is now a third option. Made viable thanks to the evolution in the UK student accommodation market, many couples are bridging the divide that distance can bring by living together whilst one or both parties undertakes their degree.

Collegiate AC, the leading provider of luxury student accommodation in some of the UK’s finest university cities, has certainly noticed this as a growing trend. Heriberto Cuanalo, CEO, explains more,

“In the past year we have seen applications for accommodation from growing numbers of couples, some of whom are both studying and some where one of the partners is and the other is in full-time employment. Our spacious accommodation suits the requirements of couples, allowing them to cohabit successfully, with the space needed to provide a stress-free environment that will be to the benefit, rather than the detriment, of their relationship.

“Feedback we have received from couples who have lived together in Collegiate AC accommodation has also revealed that they find the additional facilities on offer a great bonus too. Luxury lounges, games rooms or a private cinema room ensures that not only can couples enjoy their time together, they can also have their own space and pursue their own interests whilst living together – vital in any healthy relationship!”

Eirini and Rizos, from Edinburgh, are one couple who came to recognise the benefits of being able to live together whilst studying. The pair, originally from Greece, married in the July before they moved to the Scottish city to attend Heriot-Watt University where they were both studying for an MSc Petroleum Engineering, meaning that their first married home together was in fact a student property!

With 3.75 million marriages long-distance in the US alone (according to IVillage), the pair moved together into Gateway Apartments from Collegiate AC, with Eirini explaining how this worked for them as a couple,

“Since we were married it wasn’t an option not to stay together and Gateway Apartments provided us with a really nice and cosy first home together. The gym was really good and easy to use and the large study room that every block had with a big desk proved mandatory for assignments.

“One of the other things that our accommodation provided that ended up being very important for me especially was the fact that everything was inclusive, so I did not had to worry about gas, electricity and internet, for example. I did not have the time to deal with that and therefore that helped to make for a stress-free newly married life, even whilst studying!”

Gateway Apartments, that Eirini and husband Rizos made home for the first year of their married life, offers a range of premier studios and rooms for discerning students in Edinburgh. The winner of the prestigious RICS Scotland Residential Award in 2014, the project presents a cutting-edge, design-led student experience, suitable for both couples and individuals alike.

Set in a peaceful and elegant enclave, within walking distance of all the main colleges and university campuses, Gateway Apartments are well served with a variety of retail outlets creating an almost ‘village’ feel about the area, whilst offering easy access to transport links and central Edinburgh.

The high-specification and beautifully-designed student apartments are equipped with contemporary high-gloss kitchens, individual en-suite facilities, flat-screen TVs, double beds and ample study and storage space. The development also offers a private cinema, gym, common room and reading rooms, high-speed broadband and Wi-Fi, CCTV, an electronic entry system and 24-hour on-call support.

Studio, one, two and three bedroom apartments are available, with prices from £158.50 per week.

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

Cheese and chestnuts in the heart of Italy

by Charly Italy Appassionata

Buy the morning’s catch directly from the fishermen at Pedaso beach
Savour warm, plump chestnuts for a true taste of autumn
Be part of every season with a fractional ownership holiday home from Appassionata

Autumn is a variable concept. In the UK, it means nights drawing in, plunging temperatures and sudden unexpected squalls that leave you cursing your foolishness for leaving the house without an umbrella. In Italy, the nights are also drawing in, but that’s really where the similarity ends.

The autumn months are a wonderful time to enjoy Italy at its best. Not only does it offer the promise of reasonably consistent sunshine, but less touristy areas come alive with a wealth of seasonal local treats that will have foodies desperate to pack up their lives in the UK and head to Italy on a one-way ticket.

That was precisely what Dawn Cavanagh-Hobbs and her family did nearly a decade ago. Wanting to be part of the ‘real’ Italy, they eschewed the big cities overrun with tourists in favour of the Le Marche region, the true heart of Italy. Dawn and husband Michael, along with three of their children, two grandchildren, three horses, two dogs and a cat are still delighted that they made the move and are loving living la dolce vita in Le Marche. Interior designer Dawn comments,

“This is such a fabulous time of year. The countryside just comes alive with colour and the scents and sounds seem to soften somehow after the intensity of midsummer. It’s a great time of year to focus on the forthcoming harvest, to start making jams and chutneys, capturing the tastes of summer ready for the winter months.”

As well as a host of regular markets and the ability to buy fresh fish directly from fishermen at the local beach, Le Marche offers a number of food festivals over the autumn months. From the wild fennel festival at the end of August, through the chestnut festival in October to the cheese festival in November, the area is awash with delicious flavours.

Le Marche is also home to some of Italy’s most well respected restaurants. Madonnina del Pescatore, near Ancona, is one of the finest dining establishments in the country, while its nearby offshoot, Il Clandestino, serves Italian sushi from a shack and enjoys an incredible local reputation.

“And don’t forget the cake shops,” adds Dawn. “We are spoiled for choice here in Petritoli – the displays have to be seen to be believed. Oh and then there’s the local wine…”

It is in Petritoli that Dawn’s family business, fractional ownership company Appassionata, has renovated their latest project, Casa Tre Archi. The luxury holiday home is a three bedroom townhouse so entwined in Petritoli’s history that the ancient, curved turret wall of the town’s fortifications is a feature of its living room. With a traditional style kitchen and three outdoor areas, including an expansive roof terrace, the charming home cries out for owners to enjoy preparing and savouring local delicacies.

Owners of Casa Tre Archi are able to use the house exclusively for five weeks every year. Shares are available from £75,000.

For more information visit www.appassionata.com or contact the Appassionata team on +39 33154 13225.

Ooh la la! French property buyers head to NW London as new Lycée International opens in Wembley Park

by Charly United Kingdom Quintain

400,000 strong French population in UK, majority in London (French Embassy)
French language now second only to English for Google searches in London
New Lycée International de Londres to open on 3^rd September 2015 in Wembley Park
500 pupils and their families drawn to a revitalized Wembley Park

Newly released data from Google has served to highlight the growing appeal of London as a home to those from France. Back in 2004, French was the third most commonly used language for Google searches in London, after English and Polish. Now, the 2015 data has shown that French has moved up to take the second place spot, making it the most used language in London after English for Google searches.

Up to 400,000 French live in the UK according to the nation’s Embassy. A huge majority live in the capital, resulting in London often being referred to as France’s ‘sixth biggest city’. Traditional geographical hotspots for French communities have been in the south and west of the city (South Kensington, Clapham and Ealing) but things are set to change with the opening of a new French school in Wembley Park, northwest London.

The Lycée International de Londres – Winston Churchill, just 7 minutes’ walk from Wembley Park station, will open its doors to the first pupils on 3^rd September 2015. Wembley Park is extremely well connected with three stations, three tube lines, the overground and two National Rail lines.

With 500 children already enrolled, the Lycée International de Londres – Winston Churchill is set to have a real impact on Wembley Park. As a school for day pupils only, it is drawing not only French families to the area to settle but also the school’s staff.

Quintain, the developer responsible for the significant revitalization of Wembley Park, which will see 5,000 new homes built, has already sold apartments at the stylish, mid-market Emerald Gardens and Alto Apartments to parents of children who will be attending the Lycée.

Teaching and support staff have also secured apartments at Quintain’s existing residential properties, Forum House and Quadrant Court ahead of the start of the 2015/16 academic year through the company’s dedicated onsite lettings team, Wembley Park Residential.

Quintain’s COO James Saunders comments,

“The Lycée International de Londres – Winston Churchill is yet another excellent addition we are excited to see join the community here at Wembley Park. The recently refurbished SSE Arena, Hilton Hotel and new London Designer Outlet have already had a hugely positive impact on the area and now the new Lycée International is serving to offer an excellent education option for London’s growing French population and other internationally minded families.

The new school follows the success of the Lycée Charles de Gaulle in South Kensington, which this year celebrates its centenary, having been founded back in 1915. The Wembley Park school will be London’s second Lycée and is an exciting addition to the capital’s diverse education offering.

Those looking to live in very close proximity to the school for future academic years would do well to consider Quintain’s just launched Pienna Apartments. Part of the Alto Apartments phase of the Wembley Park development, Pienna offers 133 contemporary one, two and three bedroom homes, complete with 24 hour concierge, gym with studio room, spa treatment rooms and private residents’ water courtyard garden. Prices start at £375,000 for a one bedroom apartment and £495,000 for a two bedroom home. The show apartments are available to visit from 10^th September 2015.

For further details, visit www.alto-apartments.com or call the Savills Sales team on +44 20 3151 8601.

International appeal draws tourists and second home buyers alike to Cyprus

by Charly World IdealHomesInternational

Tourist arrivals up 8.5% in July (Cystat)
Property sales up 22% in July (Dept of Land and Surveys)
Two bedroom house with pool in Paphos just €110k (Ideal Homes International)

The Cyprus tourism sector is booming, with statistical service Cystat reporting an 8.5% increase in arrivals in July, when compared with a year earlier. Flush with the strength of sterling, British visitors were up 22.5%, but arrivals from Greece and Israel also played an important role.

According to the Cystat figures, arrivals from Greece in July were up by a staggering 55.8% year on year. Israeli visitor numbers also shot up, increasing by 65.0% between July 2014 and July 2015. The figures take the total number of tourists to visit Cyprus so far this year to 1,450,427.

In tandem with the rising visitor numbers, local estate agent Ideal Homes International has received a record-breaking number of enquiries so far this year, with sales to UK buyers increasing noticeably.

“Cyprus is attracting keen interest from property buyers right now, as well as from tourists,” comments Ideal Homes International’s Founding Director Chris White. “UK buyers are particularly excited about what they can get for their money, given the strength of the pound so far this year.

“Cyprus’ historical relationship with the UK means that there are many aspects of life there that UK buyers feel comfortable with – everything from similar legal systems to driving on the left. Contracts are written in English and everyone speaks English too, which creates a sense of familiarity for UK buyers.”

As well as its beautiful scenery and glorious sunshine, Cyprus has just been ranked as the world’s 5^th safest country by ValuePenguin, after an extensive data-crunching exercise. For countries with populations of fewer than five million, Cyprus took the number one safest country spot.

Cyprus has always been a firm favourite for the British buying overseas with Paphos, on the island’s west coast, proving particularly popular. Now, the exchange rate has meant that buyers are increasingly keen to snap up holiday home bargains, according to the Ideal Homes International team.

“The strength of sterling against the euro this year has definitely furthered British interest in second home ownership in Cyprus,” observes Chris White. “It has also encouraged many buyers to look seriously at Cyprus as somewhere to live fulltime.”

Retirees are encouraged by Cyprus’ many tax incentives and in particular by the fact that private pensions are taxed at just 5%. This can mean serious savings for many families, who can make their money go further as a result of a new life in the Cypriot sunshine. The tax environment is also beneficial to those looking to open a business in Cyprus.

According to official figures from the Department of Lands and Surveys, the number of property sales in Cyprus rose by 22% in July when compared with a year earlier. In Paphos, the number of sales was 30% higher than in July 2014, demonstrating the area’s increasing popularity.

It’s not surprising when you consider what is on offer. €110,000 is sufficient to purchase a semi-detached, modern, two bedroom house with shared pool in Paphos, just seven minutes’ walk from the sea. €179,000 will stretch to a three bedroom penthouse apartment with L-shaped balcony, large shared pool and sea and mountain views.

Those considering taking advantage of the lowest prices in a decade are invited to attend the Overseas Property Show, which will be touring the UK over the coming months. Tickets are free and experts from Ideal Homes International will be on hand to offer advice and guidance at every event.

For further details call Ideal Homes International on 01543 325316 or 07527 301861, or visit www.idealhomesinternational.co.uk

From renters to buyers – what Germany’s national shift in perspective means for overseas investors

by Charly Germany Property Frontiers

Just 18% of Berlin’s residents own their property (Buy Berlin)
Berlin rents up 9% from 2013 to 2014 (JLL)
Low entry point of €109,600 attracting global interest in buy-to-let (Property Frontiers)

“When you look at a property investment, always think it through to the end. Know your exit strategy from day one.”

Sage advice from Ray Withers, Chief Executive of leading property investment specialists Property Frontiers. Withers has been at the helm of the company for over a decade, overseeing successful client investments in properties around the world. The company’s latest offering, the high spec collection of studio, one, two and three bedroom apartments at Stadtpark Steglitz in Berlin, provides an excellent illustration of Withers’ point.

Germany – and in particular Berlin – has been a nation of renters for decades. According to Buy Berlin, just 18% of the city’s residents are owner-occupiers due to the housing subsidy legacy of the old East German government. Across the country, ownership remains low, with only around half of Germans owning a home. The only country with a lower home ownership rate in Europe is Switzerland.

However, a national shift in perspective has created an interesting change in the makeup of Berlin’s residential population. Now, increasing numbers of renters are becoming buyers, giving the property market a new lease of life. Michael Schlatterer of CBRE Germany comments,

“There is a shift towards owner-occupation, that’s for sure. You can see that the trajectory for condominium purchases is going up.”

Rent rises are one of the factors behind the new German interest in buying property. According to Jones Lang LaSalle, rents in Berlin have risen from €5.50 per square metre in 2005 to €9 per square metre in 2014. From 2013 to 2014 alone, rents rose by more than 9%. While Berlin has responded by introducing a rent cap, many tenants have already had their heads turned by the prospect of property ownership.

Continuing low interest rates across Europe and Eurozone-related uncertainties have also caused many Germans to look at buying property, as they seek out the best ways to make their savings work for them in this post-Great Recession world. Andrew Groom of Jones Lang LaSalle comments,

“We’re at the start of a re-pricing period of anywhere between two to five years. Prices in Germany have tended to be stable for long periods of time, and have then been driven by bigger macro-economic political events. We’re going through a macro-economic situation now, which is driving Germans back into bricks and mortar.”

This shift in national attitudes across Germany has served to create an interesting opportunity for overseas investors in cities like Berlin. As the housing market takes on a new dynamic, buy-to-let properties like Stadtpark Steglitz have become increasingly appealing, with the more active market offering a realistic exit strategy. Apartments there are available from €109,600, with gross yields up to 5.6%. Property Frontiers’ Ray Withers comments,

“We’re experiencing a real upturn in demand from investors for property in Germany and in particular in the capital. As the Berlin market shifts its focus, international investors are seeing a new and realistic exit strategy open up before them. Combined with the stability of Germany as an investment prospect, Berlin has quickly become one of the most exciting residential property investment destinations in Europe.”

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

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