Taylor Wimpey España and La Cala Resort join forces to create the Costa del Sol’s ultimate residential golf complex

by Charly Spain Taylor Wimpey Espana

More than €21 million to be invested
700 direct and indirect jobs to be created
48 apartments and 55 houses to be constructed over next 5 years

Taylor Wimpey España, a subsidiary of property developer Taylor Wimpey PLC (a listed company in the UK FTSE 100) and La Cala Resort, the company behind the prestigious complex of three golf courses and hotels in Mijas owned by FBD (the publicly traded Irish insurance company), have signed a long-term partnership that will allow them to develop 48 apartments and 55 houses over the next five years, with a total estimated investment of €21 million.

The partnership seals La Cala Resort’s position in the Costa del Sol, not just as a golf destination but also as one of the most attractive places for international tourist to visit and reside. The three excellent 18 hole golf courses, the exclusive hotel and four-star spa and the prime location just 30 minutes from Malaga airport, provide the perfect setting for capturing the growing European demand for second homes on the Costa del Sol.

Taylor Wimpey and La Cala Resort began working together in 2014, with the development of Miraval – a complex of 60 luxury apartments overlooking the golf course and sea. After 12 months of activity, more than 50% of Miraval’s properties had been purchased. In fact, the resort proved so popular that work was accelerated in order to provider owners with their new homes earlier in 2016.

This high level of interest from overseas buyers has prompted both companies to enhance and extend their working relationship. Thus January 2016 will see work begin simultaneously on a new complex of 55 townhouses and one of 48 apartments. The two developments will involve a total investment of €21 million over the coming five years.

A British company with a passion for Spain

Taylor Wimpey is an international developer, with its roots in the UK. Listed on the London Stock Exchange, it is a FTSE Top 100 company and one of the largest construction companies in the UK. During 2014, Taylor Wimpey delivered more than 12,000 homes. It has over 4,000 employees in the UK and Spain.

Taylor Wimpey España has operated in Spain since 1958, constructing prestigious real estate developments in popular areas such as the Balearic Islands, the Costa Blanca and the Costa del Sol. The company is known for its sustainable approach and respect for both the environment and the local communities in which it operates.

Taylor Wimpey España delivered a total of 220 homes in Spain during 2014.

Taylor Wimpey España’s long-standing experience of purchasing land and developing property in Spain means the company is confident in its latest Costa del Sol plans, which are attuned with its aims of building to improve its clients’ quality of life and providing added value to their properties.

Through this value-driven approach, Taylor Wimpey España is about more than just building successful housing: the company focuses on providing homes that enhance clients’ quality of life, provide top notch facilities in an attractive environment and offer the best locations and settings. Their approach is to add social, economic and environmental value in every community in which they work.

Quality, reliable services

Taylor Wimpey España is governed by three principles: construction quality, buyer confidence and first-class service delivery.

The 60 apartments under construction at Miraval will form a private, gated community with swimming pool and communal gardens. The two and three bedroom apartments feature two bathrooms, storage areas and underground parking. As Taylor Wimpey España homes, they enjoy superior construction quality and facilities, including air conditioning and heating systems, cream marble flooring in the living room and selected bedrooms, high-end sliding windows with safety glass leading to all terraces and well appointed, fully equipped kitchens.

Miraval’s apartments have been designed to optimize space and light, with large, open place living areas leading onto terraces surrounded by safety glass railings.

Both Malaga and the Costa del Sol have flourished during Taylor Wimpey España’s time there. The company is currently developing luxury second homes in several major areas of the Costa del Sol, Marbella, Mijas, Benahavis, Estepona and Ojen, totalling more than 500 residential units spread across seven key locations.

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.

Surge of confidence in Albanian economy as foreign interest continues to impact

by Charly Albania Lalzit Bay Resort & Spa

Foreign visitors to Albania increase by 1.3% in Q1 2015 compared to same period last year
Foreign Direct Investment (FDI) amounts to over €258 million in the first quarter of 2015
Business and individuals’ confidence in Albanian economy improved by 5.1 points in Q2 2015 (Bank of Albania)

Once known as the hidden pearl of the Balkans, Albania is becoming increasingly popular as a holiday hotspot with a growing number of people discovering all that it has to offer. During the first quarter of 2015, approximately 487,300 foreign visitors entered Albania, a rise of 1.3% in comparison to the same period last year.

According to the Albanian Central Bank, the first quarter of 2015 also brought with it a surge of Foreign Direct Investment (FDI), totalling over €258 million which equates to a 53% increase when compared to Q1 2014. This significant growth over the past 12 months not only highlights the overseas interest in Albania, but also hints at the country’s promising future growth if figures continue in an upward trajectory, a growing part of which is directed towards the property market.

Peter Walshe, Sales & Marketing Director of Albania’s first affordably luxurious resort, Lalzit Bay Resort & Spa, comments on the current growing interest in Albania and those looking to invest in the heart of the Balkan region,

“With foreign visitors and investment increasing consistently, Albania is creating a new name for itself as a top European destination, filled with potential, and our in-house enquiries highlight a growing interest from the international market. Emerging as a fresh opportunity, now would be an ideal time to invest as Albania continues to build on its current global attention.”

With foreign interest continuing to rise, domestic confidence in Albania’s economy and its emerging position as a sought after destination is also increasing dramatically. Published by the Bank of Albania last week, the Central Bank’s Business and Consumer Confidence Survey shows that confidence in the Albanian economy has improved during Q2 2015 by 5.1 points.

This growing confidence enhances the country’s global appeal, with investment opportunities in Albania attracting buyers from an array of different nations. The first quarter of 2015 saw Albania’s economy grow by 2.82% in comparison to the same period last year, showing the impact that this foreign interest and investment is currently having and can make going forwards.

As foreign interest in Albania continues to increase, Lalzit Bay Resort & Spa are providing a vast selection of investment opportunities to suit each individual buyer’s needs. Their beautiful beachfront resort comprises of one and two bedroom apartments and three and four bedroom villas as well as a select number of five and six luxury freehold villas.

Apartments are well designed and generously proportioned, while the villas are the height of luxury, each benefitting from the option of a private pool, with prices ranging from €50,000 for apartments and from €180,000 for villas. Just 30 minutes from Tirana International Airport, the resort is the perfect location for a beach holiday or to explore Albania’s entire coastline and stunning mountainous interior.

Lalzit Bay Resort & Spa also boasts an assortment of 5-star amenities including a beach club, tennis courts and a range of shops and eating and drinking facilities, alongside a 24 hour on-call medical service onsite and 24/7 security presence.

For more information, contact Lalzit Bay Resort & Spa on +44 845 125 8600 or visit www.lalzitbay.com

As the Algarve puts itself up for sale, local award-winning agent Ideal Homes Portugal reveals top selling tips

by Charly Portugal Ideal Homes Portugal

The just-released June 2015 RICS/Ci Portuguese Housing Market Survey (PHMS) has shown that the Algarve is leading the country in terms of putting its property on the market.

New instructions to sell in Portugal’s southernmost region were at least twice as high as those in Porto and the capital, Lisbon.

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

“All indications are that the Algarve property market is on the cusp of an excellent few years. Properties here are popular with both domestic buyers and those from overseas, all of whom are in search of the Algarve’s winning combination of sea, sand and sunshine.”

It seems as though many of those who have been waiting for the right time to sell their Algarve property believe that the time has finally arrived. With the June PHMS reporting sales rising continuously for a year and a half, it seems that newfound confidence is finally reaching sellers.

For those ready to put their Portuguese properties on the market, Ideal Homes Portugal offers a fully supportive sales service. Here Chris White shares his top tips for selling your Algarve property.

Ideal Homes Portugal’s top tips for selling your Algarve property

Keep it clean!

“It’s such a basic principle, but you’d be surprised by how many sellers don’t clean up before a viewing,” explains Chris. “The property doesn’t need to be spotless, but dirty plates piled up in the sink or a fragrant bin bag certainly won’t add to its appeal!”

Love your property

Share your passion for your property with those who are viewing it. This means telling the agent about its best features too, so that they can talk to potential buyers about them if they do viewings when you’re not present. They can also ensure that all of these special features make it into the property’s website listing, to tempt buyers browsing online. This unique and quirky villa near Albufeira, for example, comes complete not just with pool and landscaped gardens, but also automatic gates, 24 hour video surveillance, a central vacuum system and hydro-massage bathtubs, while this contemporary countryside villa near Loulé includes a home cinema and Zen garden.

Be prepared for a grilling

Many overseas buyers may not overly familiar with the local region in which they are looking to buy as they’ve only spent limited time there on holiday, so be prepared to provide information on everything from the best local schools to healthcare facilities and business opportunities. The more questions you can answer, the more the potential buyers will be able to picture themselves living in your home.

Think about first impressions

First impressions really do count, so look at your house as you physically approach it and see it through a prospective buyer’s eyes. A freshly painted front door or a few pretty pots of colourful flowers can make a completely different impression and can be achieved quickly and easily.

Choose a trusted agent

The sale of your property will likely be one of the most important things that you do this year, so make sure you get it right. Chose a trusted agent with a history of working in the local area and a friendly, efficient staff team – just like Ideal Homes Portugal!

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.

School’s out for summer…Collegiate keep the student lifestyle going with new Summer Lets

by Charly United Kingdom Collegiate AC

Collegiate AC provide Summer Lets in 6 different locations across the UK, including London the world’s most popular capital in 2015
Collegiate AC accommodation is available during the summer months for all students, not just current residents
Rates starting from just £140 a week

With lecture halls and common rooms having closed their doors for the summer holiday, the majority of students will be saying goodbye to their university family and moving back home. However, an alternative option is now available, a way of continuing the student lifestyle into the summer season and making the most of the holidays.

As the leading provider of luxury student properties in the UK, Collegiate AC are offering Summer Lets, with a selection of their accommodation available for the summer break.

With 11 properties located across 6 different UK citiesrticipating, Collegiate AC residents have the chance to stay in their accommodation or take advantage of the opportunity to visit an entirely different city for the summer. The scheme also provides students, who are not currently Collegiate AC residents, the chance to upgrade their summer experience with a taste of luxury living.

Heriberto Cuanalo, CEO of Collegiate AC, explains further,

“We have certainly noticed a rise in demand for Summer Lets this year, whether students have enrolled on a summer course, organised a work placement, are attending a festival or simply visiting friends and family. Collegiate AC accommodation offers current residents a sense of familiarity during the summer break, as well as allowing students who have not yet stayed with us to experience the benefits of the outstanding facilities featured in our properties.”

Figures released last month reveal that London is the world’s most popular capital, with 18.82 million visitors expected to make overnight trips this year. With accommodation available, Collegiate AC residents are also flocking to London to spend the summer there and Halsmere Studios, located in the heart of South London, provides the perfect base for those looking to discover the capital.

Spanning one period property and one modern building, the studios are spacious and well designed with comfortable furnishings. The property includes a range of features, such as secure bike storage, high-speed broadband and Wi-Fi throughout and a private garden and BBQ area to make the most of the British sunshine.

As well as London, other locations are becoming increasingly popular with students, from those looking to experience Edinburgh’s celebrated Fringe festival to those heading towards the coast for MTV ‘crashes’ Plymouth. Collegiate AC’s Summer Lets are available in ideal summer destinations to all students, even those that are not currently Collegiate AC residents, with prices starting from just £140 a week.

Situated close to Plymouth city centre, and less than 40 minutes from Cornwall’s stunning coastline, St Augustine’s House is another Collegiate AC property, perfect for a summer retreat. With much larger than average student rooms, the range of contemporary studio, one and two bedroomed apartments all have high-gloss kitchens, individual en-suite facilities, flat-screen TVs, double beds and generous study and storage space. Additional facilities include a private gym, bike storage and a fantastic roof terrace perfect for enjoying long summer evenings.

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

Crystal ball gazing – is the UAE Portugal’s next big market?

by Charly Portugal Ideal Homes Portugal

Visa-free access to Schengen Zone countries granted to Emiratis
Struggling Euro makes Portuguese property prices tempting
Algarve property prices tipped by RICS/Ci to grow by 3% this year

No-one can truly predict what the future holds, but for those in the international property sector it is certainly possible to make informed projections based on their experience of the market and their knowledge of key influencing factors.

In Portugal, Founding Director of boutique real estate agency Ideal Homes Portugal, Chris White, has been engaging in a spot of well-informed crystal ball gazing in order to see what may be in store for the country’s property market, particularly in the holiday paradise hotspot of the Algarve. He comments,

“It’s important to anticipate upcoming trends and changes in the market when you work in the property sector, so that you can be sure that you have the right properties in the right areas on your books. Things like the introduction of the golden visa scheme can have a marked impact on the market and if your stock consists entirely of one bedroom apartments inland, when a surge of Chinese buyers are looking for high end properties on the coast, then you’re going to miss out.”

Portugal’s property market has certainly benefited from Chinese investment, with the latest RICS/Ci market report noting 14 consecutive months of rising agreed sale numbers. The Algarve in particular has shown strong growth and is tipped to achieve growth of 3% in the year ahead, against a national average of 2%.

But keeping an eye on this kind of market data is just the tip of the iceberg, points out Chris White.

“Stats on the performance of the prices and agreed sale numbers are really useful, but they have to be combined with an understanding of the local market. That means having a feel for the confidence that exists locally and being ahead of the game in terms of planned improvements to infrastructures. A new supermarket or glitzy hotel, for example, can push prices up by making an area more attractive, while new roads or rail connections can do so by making it more accessible.

“Then there are general factors to consider that affect the whole of a region, such as more flight routes being added to the local airport. Finally there are the country-wide considerations. In Portugal right now that means the extension of visa-free access to visitors from the United Arab Emirates.”

With current exchange rates tempting many investors to look closely at European second homes overseas, the granting of visa-free access to Emiratis wishing to visit the Schengen zone might just be the icing on the cake that opens up the Portuguese market to buyers from the UAE.

“It’s a market that you would be remiss to ignore,” concludes Chris. “We’re lining up a few ultra luxury, characterful properties with pools, ready to see what the future holds.”

Keeping abreast of future market developments, backed by excellent customer service, is certainly a model that is proving successful for Ideal Homes Portugal. So much so, in fact, that the company has just been awarded the Rightmove Mystery Shopper Award, beating more than 100 other Portuguese real estate providers.

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.

House price hike: Turkey leads Europe with highest housing market growth

by Charly Turkey Universal21

Latest Global House Price Index records Turkey’s annual growth as 18.6% – the highest throughout Europe (Knight Frank)
Turkish economy expanded by 2.3% in Q1 2015 in comparison to Q1 2014, exceeding all market expectations (MarketWatch)
Excitement around Turkish property still prevalent, industry expected to continue to develop (Universal21)

Turkey’s property industry remains one to watch with consistent annual price growth and increasing buyer interest. The latest figures released by Knight Frank, in their annual Global House Price Index report, rank Turkey’s annual growth as the highest in Europe at 18.6%, and second globally, just missing out to Hong Kong by the smallest of margins.

Inextricably linked to Turkey’s flourishing housing market is its construction industry. The most recent research conducted by the Turkish Statistical Institute (TUIK) in relation to confidence in Turkey’s construction services shows an increase of 1.6% when compared to last year. A growing number of managers within the construction industry advised that workload was above the seasonal average and they were expecting a rise in “total employment” over the next three months.

Universal21, the leading property agency in Istanbul, works closely with every aspect of Turkey’s property industry and confirms the sense of confidence currently surrounding the market.

Director, Adil Yaman explains further,

“Over the last decade Turkey’s housing market has thrived, attracting a vast amount of interest and subsequent investment from both domestic and international buyers. The most recent figures suggest that the property industry is still recording annual growth, albeit at a slower pace, with house price growth remaining consistent.

“Evaluating our current levels of interest for our residential projects here in Istanbul, we can feel that the excitement around Turkish property is still prevalent and would expect the industry to continue to develop as the nation where east meets west retains its place at the forefront of the global real estate market.”

Indeed the positive effects of Turkey’s robust housing market are certainly having an influence on the country’s economy, expanding by 2.3% in Q1 this year in comparison with Q1 2014. This substantial increase has exceeded all market expectations and demonstrates that the annual growth estimate of 3.1% in 2015 is completely achievable.

Universal21 understand the importance of Turkey’s property industry to the wider economy and strive to develop some of Istanbul’s most sought after real estate.

Their most recent offering is Diamond Residence. Located in a quiet, relaxed area of Old Beylikdüzü, Istanbul, whilst still being in close proximity to all amenities and restaurants, the residence is comprised of 148 beautifully designed apartments. With both one and two bedroom apartments available, Diamond Residence is just a 20 minute drive from the main Ataturk international airport and a 10 minute walk from the area’s major shopping centre, Marmara Park.

More than just a residential development, the property also offers an array of excellent and functional facilities, including 24 hour security, a Vitamin Bar, fitness centre, indoor swimming pool, children’s game room and cinema room. With one bed apartments starting from £57,000 and two bed apartments from just £98,000.

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

Brits ready with the readies in Spain this summer

by Charly Spain Taylor Wimpey Espana

Brits accounted for 22% of total visitors to Spain (Jan – May 2015) (Ministry of Industry, Energy and Tourism)
Record 16.93% of properties bought by non-Spaniards in Q1 2015 (Ministry of Development)
Palma is Spain’s 3^rd busiest airport, with 23 million passengers in 2014 (ENAIRE)

It looks like Spain’s hopes for a record summer are well on the way to being realised and this tourism season it is the Brits who are ready with the readies. Official government figures for April showed that UK travellers spent in excess of €1 billion in Spain, making up 19.5% of the overall visitor spending figure of €5.155 billion.

In May, the spending continued, with 6.5 million overseas visitors spending €5.89 billion – a record-breaking total and a leap of 11.8% on the previous year, according to the Ministry of Industry, Energy and Tourism. Visitors from the UK made up 22% of the total to the end of May, with France and Germany also making up significant proportions of the market.

Many of those travellers are regular visitors to Spain, which is a popular destination for second homes, particularly amongst British buyers. Marc Pritchard, Sales and Marketing Director of leading homebuilder Taylor Wimpey España, comments,

“Spain offers British buyers everything they are looking for from a holiday home location – it’s a short flight from the UK, the weather is fantastic, there are more Blue Flag beaches here than anywhere else in the world and the cost of living is low compared to the UK. It’s a winning combination, particularly with pounds stretching even further thanks the exchange rate at present.”

Nor is it just the Brits who are buoying up the Spanish property market. Figures from the Ministry of Development show that non-Spaniards accounted for 16.93% of all properties bought in Spain during Q1 2015, a rise of 17.2% over the Q1 2014 figure. Areas like the Costa Blanca, in Alicante, top the list of popular destinations, while Mallorca also attracts a large share of overseas buyers each year.

In terms of visitor numbers, Palma airport on the Balearic Island of Mallorca is the third busiest in Spain, accommodating more than 23 million passengers in 2014, according to ENAIRE (formerly Aena) statistics.

Mallorca is a long-time favourite with British and German visitors with one of the area’s most popular locations being Porto Cristo, with its pretty marina, wide expanses of golden sand and plentiful shopping and dining options.

Taylor Wimpey España currently has two key-ready developments in the Porto Cristo area. Cala Magrana III has just two two-bedroom apartments left, which are available for €220,000 as part of an end of season offer. Nearby Cala Anguila II also has only a few apartments left, with two-beds starting at €230,000. Both developments include delightful communal pools, lush gardens and easy access to Cala Anguila beach and nearby golf courses.

“Many buyers are seeing this as the ideal time to purchase Spanish property,” continues Marc Pritchard, “And our Mallorca developments have been incredibly popular. Over 50% of our apartments at Cala Anguila with direct access to the beach were sold off plan in just six months. It’s excellent news for the Spanish economy, as is the promising summer that looks to be in store in terms of visitor numbers and spending. There are a lot of signs around right now – economic indicators, unemployment figures and so forth – that the Spanish economy is undergoing a serious recovery, so buyers want to pick up properties now in order to enjoy capital gains in the coming years. And with properties in places like Mallorca, they can sit back and relax in the sunshine while they watch their capital grow.”

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.

Ask the experts: How to get more from your Wembley Park rental property

by Charly United Kingdom Quintain

Over 70% of private landlords opt to use Wembley Park Residential
4 out of 5 tenants look for furnished apartments
Redecorate and replace every 5-7 years

When it comes to Wembley Park, nobody knows the residential rental market like Lettings Manager Ashley Payne and his team at Wembley Park Residential. Established in 2008 as a subsidiary of British-based developer, Quintain, the team has completed over 500 lets across Forum House and Quadrant Court, two of the core residential offerings of the significant revitalization project taking place at Wembley Park, and is now managing lettings at the current phase, Emerald Gardens.

“We provide a trusted and reliable service that over 70% of private landlords at Wembley Park prefer to use,” explains Ashley. “We take pride in our profession. All our staff are fully trained by the Association of Residential Letting Agents (ARLA) and hold a range of professional qualifications. Our documents are produced by a specialist legal firm and we have a dedicated onsite manager to handle all aspects of property maintenance. We cover all the angles so that landlords and tenants alike can feel relaxed and reassured when using our service.”

With more than 25 years’ combined experience letting and managing residential property across London, the team knows just how to maximize a rental property’s value. Ashley shares his insights into how to get more from your Wembley Park rental property:

1. Find the best tenant

Having a successful rental property relies on your tenants paying their rent on time and wanting to stay in the property for an extensive period. At Wembley Park, along with advertising online (in particular with the ever popular Rightmove), we also have tenants who upsize and downsize within the buildings and who recommend their family and friends to our services. We also benefit from site signage advertising our services. Altogether, this gives us a healthy database of applicants old and new who are interested in renting apartments in Wembley Park, so we know precisely what prospective tenants are looking for from their rental property. Knowing Wembley Park inside out means that we can pair each apartment with the perfect tenant, thus encouraging longer stays by having happier tenants.

2. Think about the furniture

Four out of five tenants are looking for a furnished apartment so modern furnishings that suit the quality finish of the apartment are essential. Plan to purchase (as a minimum) a sofa, dining table with chairs, TV stand and coffee table for the living room, double bed, headboard, mattress, chest of drawers, bedside tables and freestanding wardrobe (if a built-in wardrobe is not in place).

3. Choose the best management company

Using a management company such as Wembley Park Residential, which is actually based on site and knows the properties inside and out, is a smart move for landlords. It means the team is perfectly positioned to manage the apartment compared to an offsite company, which may not be so intricately familiar with elements of the development such as the heating system or the ventilation.

Wembley Park Residential undertakes inspections every six months on behalf of private owners, at no extra cost. This means we can let owners know if any changes are required and ensure that tenants are happy in their homes.

4. Know how to price correctly

Pricing your rental property correctly is essential. If the rent is too low, you will miss out on income. If it’s too high, you may struggle to find a tenant and end up with a void period. With over 500 lettings already successfully completed on site over the past seven years, and being highly aware of current market conditions, we have a wealth of knowledge to drawn upon when it comes to setting rents, whether for a studio, one, two or three bedroom apartment.

5. Be the best landlord you can be

Being a good landlord is about more than just buying a property and renting it out. You can maximize your tenant’s happiness by always responding to queries quickly and ensuring that any repairs are carried out swiftly. Use contractors who are familiar with the development and have been tried and tested.

6. Keep the property refreshed

Remember that rental properties require repainting and recarpeting from time to time, as well as needing their white goods, soft furnishings and other items replaced. We recommend refreshing a property every five to seven years as a minimum. Your tenant will appreciate the commitment to keeping their home looking tiptop and will likely be happy to stay there longer.

With Wembley Park making headlines as one of London’s most desirable lifestyle destinations, accommodation is highly sought after. Tenants can enjoy an onsite, 24 hour concierge, pre-wired fibre optic to all apartments, videophone entry systems, an Envac recycling waste management system and secure underground parking, as well as a location on the doorstep of a huge range of local amenities, from fitness centres to designer shopping and eating at LDO and endless entertainment options at The SSE Arena, Wembley.

Price of apartments at Emerald Gardens, the current residential offering under construction at Wembley Park, start at £366,000. Estimated rents are from £288 per week for a studio, £312 pw for a one bedroom apartment and £390 pw for a two bedroom. For further details, visit http://www.northwestvillage.com/, call the Savills Sales team on +44 20 3151 8601 or call Wembley Park Residential on 0845 201 1205.

The Italian Job – from multi-generational employment to holidays for the whole family

by Charly Italy Appassionata

98% of multi-generational travellers highly satisfied with their trip (AARP)
Italy perfect for whole-family holidays (Appassionata)
83% of travellers highlight bringing family together as top benefit of multi-generational holidays (AARP)

Italy is a country synonymous with proud family heritage. Family values and the coming together of generations – particularly over meal times – are seemingly decaying in many countries, but in Italy these traditions are still strong. The country has found a way to embrace the contemporary world without losing its family bonds, to the benefit of future generations.

“Family is so important here,” observes Dawn Cavanagh-Hobbs, founder of luxury holiday home company Appassionata. “We work with local artisans to source unique products – everything from lamp shades to wrought iron gates – and so many of them are third or fourth generation craftsmen, carrying forward the skills that they learnt at their father or grandfather’s knee.”

Dawn herself runs her business with several of her own family members. Husband Michael, daughter India and son-in-law Charlie all work together to present Appassionata’s luxury fractional ownership holiday homes to a global audience of owners, all of whom share a passion for Italy and the country’s way of life. Even little grandson Lucas likes to pitch in at busy times, like the olive and grape harvests.

With such a strong family focus, Italy makes an ideal location for multi-generational family trips, something that the latest research from AARP Travel has found are satisfying to 98% of travellers. The Le Marche region, where the Appassionata team is based, appeals to the whole family, with plentiful Blue Flag beaches, the Sibillini National Park, friendly towns and fantastic dining options.

The AARP Travel research has found that the top benefits of multi-generational holidays are precisely those that Italy has to offer. 83% of respondents felt that bringing the entire family together was the greatest benefit, 69% felt that it was helping build special memories and 50% felt that it was grandparents being able to spend time with their grandchildren.

Chris Everard, who owns a share in Appassionata’s three bedroom, three bathroom townhouse, Casa Tre Archi (fractions are available from £75,000 for five weeks’ exclusive use per year), took his daughter, son-in-law and brand new granddaughter to stay there recently. He feels that Le Marche makes an ideal holiday spot for multi-generational vacations. Not only are Casa Tre Archi and the local town of Petritoli ideal for a relaxed holiday, but the nearby facilities are fantastic. Chris comments,

“Within an easy 20 minute drive you arrive on the Adriatic coast and have the opportunity to enjoy a true Italian beach experience. Impossible to work out Italian family combinations arrive, make camp, squabble, play Boule, disappear for a three-hour lunch and return to sleep the afternoon away whilst various grandparents take it in turns to look after the bambini’s.”

Appassionata’s India Hobbs-Mauger adds,

“Le Marche is the perfect destination for whole-family trips as it is so welcoming to children. There are loads of activities here to keep everyone entertained and towns like Petritoli are just charming, whatever your age. It’s a wonderful family destination.”

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

Value of foreign investment in US homes rockets, latest report reveals

by Charly United States Property Frontiers

Value of US home sales to foreign buyers jumps 13% (NAR)
Currency fluctuations in Europe pushing investors to the US (Property Frontiers)
Chinese buyers now top list of foreign investors in US (NAR)

According to the National Association of Realtors (NAR), around 4% of US homes (209,000 houses) were bought by foreign buyers between April 2014 and March 2015. The figure represents a 10% drop over the previous year, due to the strength of the dollar. However, while the volume of purchases by overseas buyers may have diminished, the value has shot up by 13%, from $92.2 billion in 2013/14 to $104 billion in 2014/15.

So, who’s buying in the US?

For the first time, buyers from China have topped the list of foreigners buying up US real estate, knocking the Canadians off the top spot. It’s something that those in the industry have expected for several years, as Ray Withers, Chief Executive of leading property investment specialists Property Frontiers, explains,

“We’ve seen a growing trend of Chinese buyers purchasing US real estate for several years. The NAR’s 2014/15 Profile of International Home Buying Activity has shown they are now not only the largest purchasers by volume (at 16%), but also by value, with an average spend of $831,300. As a group, Chinese buyers like high end investment properties in prestigious locations, so there’s a lot of focus on cities like New York and LA, though their interests extend right the way across the US.”

Canadian buyers still accounted for 14% of homes bought by foreign buyers during 2014/15. Buyers from Mexico, India and the UK also accounted for substantial proportions of the overall number of houses purchased.

A stable base

“With currency wobbles in Europe, the US provides a stable playing field for investors,” continues Withers. “The dollar may be strong, but in an uncertain market that can be a positive attraction for many investors. It’s about playing the long game, not making a risky overnight profit that could backfire significantly.”

Withers cites Chandler Oaks in the South Carolina city of Gaffney as an example of what investors are looking for from the US market. The development consists of one and two bedroom apartments designed for students and young professionals to rent. With rents on the rise in the US, this type of investment is much in demand – 70% of the apartments at Chandler Oaks have already sold out. Rents in the US have risen 3.7% year on year, with Zillow’s March data showing that annual rental growth exceeded annual house price growth in 17 of the largest metro areas of the US during March.

Rising rents are good news for investors looking for strong yields. At Chandler Oaks, a minimum of 11.4% gross yield is offered for the two bedroom apartments, thanks to a contract with a local college that will provide tenants to May 2019. Underwritten income of 8% NET is also in place until the start of 2020.

These strong yields are one reason that foreign buyers look to US, as they can generate greater income than they could on similar properties back home. Local property restrictions also come into play – in Beijing, the maximum property ownership limit is two homes, even for investment purposes, hence the cash purchase of so many homes in the US.

Whatever their individual reasons, investors turning to the US are looking for stable investment opportunities with healthy returns, exactly like Chandler Oaks. Investment there is available from $48,671 for a one bedroom apartment.

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

Menu