Florida flying high! New airport expansion set to welcome 45 million travellers and boost rental opportunities

Florida flying high! New airport expansion set to welcome 45 million travellers and boost rental opportunities

by Kate United States
  • $1.1 billion Orlando International Airport expansion will welcome up to 45 million visitors
  • State of Florida on track to see record-breaking tourist figures of 100 million by end of 2014
  • Brookes & Co launching new Orlando project for investors looking to capitalise on growth

A major new expansion plan will see Orlando International Airport welcome up to 45 million travellers by 2020, spelling great news for those investing in the growing destination. The $1.1 billion scheme has just been approved by airport officials, in light of the airport having welcomed an additional 4.2% travellers this August, and within the context of the state of Florida aiming for record-breaking visitor numbers of 100 million by the end of 2014.

The announcement of this newly confirmed expansion, is no surprise given Orlando’s reputation as a perennially popular destination for families looking to make the most of all the Sunshine State has to offer, as well as those looking for the ideal leisure break. A place of action-packed days and fun-filled nights, from beautiful beaches to world-famous theme parks, the excitement of the water parks to the plentiful shopping facilities on offer along with world class golf courses, Florida’s magic inspires all who visit from both the US and overseas.

Philip Button, Managing Director of specialist property investment company Brookes & Co, which has been working in the Florida property market for over a decade, gives his reaction to the airport expansion announcement,

“The Orlando International Airport expansion plan is excellent news. Florida’s tourism sector is an important part of the state’s economy and a significant proportion of those tourists access Florida via Orlando. The expansion scheme will ensure that those visiting Florida find the process of getting here a pleasant one, as the airport’s capacity grows in line with demand.”

Due to the nature and size of the airport expansion plan, the project has been divided into manageable sub-projects which include $470 million that will be spent to expand the airport’s people mover system and provide a 3,500-space parking garage, easing movement between flights; $120 million towards a new south terminal; and $114 million to improve the flow of international traffic at Airside 4.

Such ambitious growth plans are appropriate given the fact that at present the airport handles far more passengers than was originally intended, as Greater Orlando Aviation Authority Executive Director Phil Brown observed,

“Orlando International Airport, designed to handle 24 million passengers a year, witnessed a passenger count of 35 million in 2012” making the airport expansion long overdue and a very welcome addition for those travelling regularly through its doors.

Such a development scheme will not only increase visitor numbers and their experience, it is also likely to have an impact on local property prices. This has positive implications for those who have already bought in Florida, such as those previously purchasing at The Fountains at ChampionsGate with Brookes and Co, taking advantage of the healthy rental returns on offer as well as top class golfing facilities, and for those considering buying in the region.

For those interested in taking advantage of the growing opportunities in Florida, Brookes and Co are set to launch a new Florida project to UK investors very soon, enabling them too to benefit from the Orlando International Airport expansion.

For more information about buying in Florida and the new investment opportunities soon to be launched, contact Brookes & Co on +44 1621 875 925, email info@brookesandco.co.uk or visit www.brookesandco.co.uk 

‘The American Crossrail’: Florida’s Sunrail on track to boost Orlando property market

‘The American Crossrail’: Florida’s Sunrail on track to boost Orlando property market

by Kate United States

The revolutionary SunRail project in Florida – the rail line launched this year to greatly improve the state’s accessibility, for both commuters and tourists alike – is on track to go from strength to strength following the announcement of a proposed major expansion.

The Florida Transportation Department has revealed that they are looking into a potential move to increase the reach of the landmark project with a link to Orlando International Airport. Currently in the research phase, this expansion of 5.5 miles of additional track, from Orange County’s Meadow Wood station, if given the go ahead, would complete for an opening in 2020.

Already having an impressive impact in the region, the Sunrail commuter rail system is positively affecting the areas along its path, cutting commuting time, creating jobs and opening up transportation possibilities for the numerous businesses in the region.

Phillip Button, Managing Director of leading property investment specialists Brookes & Co, experts in the Florida property market, explains why this is good news for those buying in the region,

“Florida has been going from strength to strength, with the Orlando area in particular registering impressive growth in terms of both the economy and house prices in recent times. Now, with the impact of the new Sunrail, and its proposed major expansion in the pipeline, this is looking set to flourish further still.

“As has been seen in the UK with the much-anticipated Crossrail link that is expected to add an impressive £42billion to the UK’s economy, impacting positively on property prices even ahead of its opening in 2018, the Sunrail project is sure to further strengthen the Florida market. Reflecting Crossrail’s creation of thousands of jobs and opportunities for business, and with a predicted impact on the US economy of $8.8billion and the creation of 261,000 jobs in the coming 30 years, Sunrail will not only make travel easier, it will make doing business and making money easier, excellent news for the recovering US economy.”

And Button is right to highlight the property prospects of Sunrail. Through its similar expansion, the UK’s Crossrail project has already caused a surge in house price growth along its route, with a 30% growth in the average price of houses within a 10-minute walk of the central Crossrail stations since 2008, according to Knight Frank, with an average rise of 40% expected by 2018. It is revitalising areas, reinvigorating local economies and expanding interest in specific regions that will be touched by the new rail line.

Prior to the proposed airport expansion, the next phase of the Sunrail system will be a further 4 southward stations added to the existing 12, along with a new northern terminus, with a completion date of 2017 anticipated. As alluded to by Button, for those looking to invest in property in Orlando, the second phase of Sunrail is excellent news. As well as area-specific price increases around the proposed new station sites, the development is expected to contribute to a general uplift in property prices as the city expands.

With several successful property investment opportunities already sold out in Florida and an exciting new development about to be launched close to one of the new Sunrail stops, Philip Button certainly sees the true value of transportation upgrade when it comes to property prices. He explains,

“Adding a new commuter transportation system such as Sunrail to a city is about so much more than just moving workers from A to B. It is about ensuring that the city operates as efficiently as possible, making it an attractive destination for families to live and for tourists to visit.

“Orlando has some wonderful attractions for those looking to visit the area, but without being backed by a decent, modern infrastructure their charms would certainly begin to fade, with visitors spending their time queuing on crowded train platforms or sitting in traffic on congested roads when they should already be through the theme park gates and having fun.”

For more information about buying in Florida and the new investment opportunities soon to be launched, contact Brookes & Co on +44 1621 875 925, email info@brookesandco.co.uk or visit www.brookesandco.co.uk 

Rents Soar as Chronic Shortage Forces Students into Local Hotel

by Kate United Kingdom
  • Aberdeen University forced to house 100 first year students in local hotel.
  • Critical shortage of rooms has led to crisis, with less than 10% of students able to access purpose-built accommodation.
  • The private sector are filling the gap, as councildraws up delayed action plan.
  • Emerging Property’s Aberdeen student development 100% occupied from day one, with rents up to 54% higher than projections.

An unfortunate 100 first year students in Aberdeen have been forced to begin their studies in a local hotel, after the city’s student housing shortage reached critical levels. With a total of 66,000 students and just 6,254 student rooms in total, according to the Aberdeen City and Shire Housing Need and Demand Assessment (March 2011), crisis has been on the horizon for years.

Compounding the issue is the rocketing prices in the private rental market, which, according to lettings site, Citylets, saw average property rents surpass £1,000 per month in 2013 – an increase of 11.5 per cent from the previous year.  This has been catalysed by the influx of workers to a city where, inspired by the energy sector (oil & gas especially), unemployment is less than half the national average.This is in addition to the limited development activity, which has seen an average of just 523 new housing completions annually since 2006.

In response, the city council is to launch a £3 million initiative to create 2,000 rooms within five affordable housing developments. Whether or not this will provide an adequate solution to the issue, however, is questionable – it is not only students who are suffering.

“There are problems with accommodation in Aberdeen in general, whether it’s private, the rented sector or student accommodation,” says Emily Beever, president of Aberdeen University’s Student Association (AUSA).”Aberdeen is the second most expensive place to live in the UK, so it’s obviously a major concern amongst students.”

The concern for the university is that, if students can’t find anywhere to live, then applying elsewhere will be their only option.With the council’s plans still very much at an early stage, it is the private sector that is currently working to fill the gaps, with developments designed specifically for students providing additional rooms.

For one such development, the heightened demand is proving lucrative for investors, with secured rents having leapt up more than 50% on projected levels. This is a huge increase and demonstrates just how undersupplied the Aberdeen housing market is.

“When we first began to research the city as a potential location for a student development, we were astounded by the supply gap,” says James Harrington, Business Development Manager at Emerging Property – a leading property investment consultancy, which has recently sold out a student development in Aberdeen. “We were able to secure a great city centre plot and build 30 high quality student rooms.”

These rooms were offered to investors with 10 per cent guaranteed net yields for 10 years – the best returns in UK student property – on the premise of achieving £130 in weekly rent. This is inclusive of professional property management and the presence of an adequate buffer to provide security.

In August, however, almost a month before the development’s scheduled completion, all rooms were taken by the University of Aberdeen itself, with rents of up to £200 per week – 54 per cent higher than initial estimates.

“We are always conservative with our rental projections, as security is a key aspect of the investments we offer,” explains Mr Harrington. “But to secure rents more than 50 per cent higher than our estimate highlights the critical situation of student housing in the city and puts our investors in an incredibly secure and lucrative position.”

With a second Scottish oil boom predicted by Professor John Howell, a leading offshore expert at Aberdeen University, it appears that the housing crisis may only get worse before it gets better.

To find out more about Emerging Property’s student investment opportunities, you can visit www.emergingproperty.co.uk or contact matthew@emergingproperty.co.uk 

‘Byte Night’ event to tackle homelessness in the UK with a helping hand from Brookes & Co

by Kate United Kingdom

It was 2009 when Prince William famously ‘slept rough’ overnight in central London, bringing the cause of homelessness in the UK sharply into focus and raising vital awareness for the case of those who spend night after night on Britain’s streets.

And sadly, the situation is still as desperate five years on. Today there are 2,414 people sleeping rough on the streets of the UK, according to government statistics from autumn 2013, up a shocking 37% on the 2010 figure of 1,768.

As a response to this growing problem, on Friday 3rd October, thousands of people will show their support for the cause and take to the streets themselves, sleeping rough for the night and raising money as part of Action for Children’s national event, ‘Byte Night’.

Having launched 16 years ago when 30 individuals from the IT industry slept out, raising £35,000, this year’s event, taking place all around the UK, is expected to see over 1,500 sleepers from the technology and business sectors take part across eight locations, making it the biggest event of its kind, raising over £1 million.

Helping Action for Children’s Byte Night tackle the root causes of homelessness, keeping vulnerable young people off the streets and assisting them to build better lives, are this year’s participants Mike Bell and Chris Pardoe, taking part in the St Paul’s Square, Birmingham event.

Mike Bell, a SVP Strategic Engagement SAP working in the IT industry, was inspired to take part in Byte Night after learning of the growing numbers of people having to take the last resort of sleeping on the streets. He explains,

“I have been involved in supporting this cause as a sponsor for around five years now, but this is the first year I have decided to actively take part. Giving up my own bed for one night is nothing in comparison to the day in, day out, all too real experiences of life on the street, faced by many people. No one individual should be forced to live without safety or shelter, yet since the recession the number of those doing so has risen sharply. I hope that by playing my small part in this year’s Byte Night, I can raise awareness of this growing, desperate situation as well as vital money to support those vulnerable young people at risk of becoming homeless themselves.”

Managing Director of specialist IT company The Know List, Chris Pardoe, places social responsibility high on the list of his company’s objectives. He is proud to be supporting young people through a number of company initiatives, from the creation of a free school in Milton Keynes to provide meaningful work experience for young people, to the upcoming launch of a talent and acquisition division for the company, a recruitment service that will give 20% of its fees to Action for Children, the charity behind Byte Night, as well as an outsourced service that aims to find roles for underprivileged young people.

Sleeping rough himself on 3rd October, Chris explains why he felt compelled to get so personally involved,

“It may sound clichéd, but young people really are our future and I believe that far more needs to be done to support their growth and development, both practically and emotionally, within the vast reaches of our society. The Byte Night event is a tremendous one. Not only is it excellent for raising awareness, all the monies raised will go towards preventative measures to help stop young people having to take to the streets as a way of dealing with their troubled lives. I am very much looking forward to doing my bit.”

Both men are being supported in their Byte Night participation by Essex-based property investment company, Brookes & Co, with Mike having previously purchased property through the company. Providing clients with opportunities to invest wisely in property developments, both in the UK and overseas, Brookes & Co are keen to uphold their ethos of giving back to local communities and have supported both Mike and Chris with sponsorship for this year’s charity sleep-out.

Managing Director Phillip Button expresses how keen the company were to be involved,

“I think what Mike and Chris are doing to support the Byte Night cause is fantastic and we at Brookes & Co are proud to be able to support them in turn. It is truly shocking that in the modern age there are so many people living rough on Britain’s streets, whether it is through job loss, family breakdown, abuse, violence, neglect, or a whole host of other factors, it is something that needs to be addressed and vital support given to change what, all too often, becomes a downward spiral for many.

“Byte Night, and the work being done by Action for Children, is making a real difference to the lives of vulnerable young people, at risk of ending up resorting to a life on the street; providing accommodation, education, training and care to those most at risk individuals and helping to give them the strength to work towards positive futures. What an amazing cause, and one we are honoured to support.”

To learn more about Byte Night and to support the cause, visit www.bytenight.org.uk

For more information about property investment specialists Brookes & Co, contact 01621 875 925 or info@brookesandco.co.uk or visit www.brookesandco.co.uk

AB Property Marketing appointed by innovative new private landlords’ support system, Ready Rentals

AB Property Marketing appointed by innovative new private landlords’ support system, Ready Rentals

by Kate United Kingdom

It is no surprise that the number of private landlords in the UK is on the increase. A second income for many, a useful revenue stream for those in retirement or simply the result of property ownership brought about by inheritance, scores more people are becoming landlords within the private rental market and feeling the benefits.

Yet this is also a sector that is strewn with minefields. The uninitiated very quickly come up against a myriad of legal stipulations that they have to abide by, seemingly ever-changing legislation that governs every aspect of how they conduct themselves and how they maintain both the property itself and the relationship with their tenant successfully, not to mention the worries of how best to market their property and make the very most of their bricks and mortar.

Coming from a background of 10 years as a well-respected letting agent at the helm of Castle Estates (Glasgow) Ltd, and with more than 35 years in the project and property management sector nationally, Neil Woodhead is launching Ready Rentals, an innovative new service which aims to provide much-needed assistance for currently unsupported private landlords.

Ready Rentals is a resource that provides self-managing landlords with the support to be able to deliver a professional and legally compliant service. The online system is accessible from anywhere in the world and currently supports landlords with properties in England, Wales or Scotland. The service is regulated by the Royal Institute of Chartered Surveyors (RICS), as well as being a Member of the Ombudsman Services Property which allows landlords to manage their portfolio with confidence.

Neil Woodhead, Founder of Ready Rentals explains what prompted him to establish the new service,

“Over the years I have been approached countless times by people who had become private landlords, either through choice or circumstance, and found themselves in deep waters, overwhelmed by legislative constraints liable to change and floundering to stay on the right side of the law.

“I wanted to provide a service that would support these hardworking people meaning they no longer needed to do it alone. The result is Ready Rentals, an easy-to-access service that provides all the tools needed to be a successful private landlord for an affordable price. Making use of my years of experience as a letting agent, I have prepared a service which allows people to tick every box, from a legal and marketing perspective, to make their job as a private landlord as easy, pain-free and rewarding as possible.”

Ready Rentals will:

  • Offer access to all of the documents needed to become a private landlord
  • Be automated to suit individual needs
  • Offer continually updated advice on statutory regulations and letting a property
  • Offer online marketing to major portals
  • Provide information on marketing and advertising, and everything else needed to function as a successful landlord – all at the click of a button!

Today, announcing their upcoming launch on 20th October, Ready Rentals have appointed leading property PR agency, AB Property Marketing, to share the news of their exciting new service.

Charlotte Ashton, MD of AB Property Marketing, comments,

“At ABPM we’re really excited to be helping launch Ready Rentals to the UK market. Being a private, stand-alone landlord can be tough, with so much legislation and paperwork to navigate, yet with Ready Rentals this no longer need be the case.

“With Neil’s industry background and the backing of RICS, as well as what can only be described as a fantastically intuitive system, Ready Rentals certainly fills a gap in the market and will prove invaluable to those managing a rental property themselves.”

As an expert in the UK rental market, the difficulties facing landlords and the changing legislation, Neil Woodhead and Ready Rentals are available to provide industry comment.

To find out more about Ready Rentals and the service they offer, visit www.readyrentals.co.uk

Foreign Direct Investment firmly back on the Albanian agenda, announces PM Edi Rama

Foreign Direct Investment firmly back on the Albanian agenda, announces PM Edi Rama

by Kate Albania
  • Albania jumps 1.7 points on 2014 Index of Economic Freedom
  • FDI Net Inflow of $1,369,659,000 into Albania in 2011 (IMF)
  • London-based investment company, Charles Street Securities LLP, backing first 5* resort in Albania, Lalzit Bay Resort & Spa

Foreign Direct Investment (FDI) into Albania, the emerging Balkan nation headed by Prime Minister Edi Rama, is back on the agenda as the country focuses on building a strong economy.

Speaking at the recent ‘Albania Calls’ business forum at the Austrian Chamber of Economy, Mr Rama expressed how important foreign investment into the country was and how much of a priority he and his government were making it, saying,

“This is a quite peculiar moment for our country, a moment when we start turning things around, when we fully employ our economic potential, when we really free up our markets to investors.”

This collaborative approach is one that is central to the minds of the modern Albanian government who have realised the key role of foreign relations to the success of the previously communist country. And this revolutionary approach is having a positive effect.

The 2014 Index of Economic Freedom, that uses 10 factors covering Rule of Law, Limited Government, Regulatory Efficiency and Open Markets to determine the ‘economic freedom’ of a country, has revealed that Albania scored 66.9 on a scale of 1 – 100, an increase of 1.7 points on the previous year’s Index, ranking it 25th of Europe’s 43 countries.

Highlighting improvements that include structural reforms of, amongst other things, competitive flat rate taxes and trade reforms, and with a score that is also above average in the worldwide ranking, the Index notes a 17-point increase for Albania in the past 20 years, proving that Edi Rama’s efforts are paying dividends for the Albanian economy.

This sense of increasing economic stability and a positive forward-thinking stance has had a knock-on effect for those looking to invest their monies in the growing Balkan country. Instilling a sense of confidence and optimism with regards to growth potential in Albania, this has been reflected in the numbers following through financially.

The International Monetary Fund (IMF) has shown that FDI Net Inflows reached an impressive figure of $1,369,659,000 in 2011, their highest ever value, up from a mere $325,138,300 in 2006, a major increase of $1,044,520,700 in foreign monies invested in Albania in just 5 years.

Taking advantage of the many benefits of investing in Albania from outside of the country – including its wealth of natural resources, excellent location that offers great potential, no governmental restrictions to investment and EU candidacy having been granted in advance of an expected joining of the EU in coming years – increasing numbers of overseas companies and individuals are looking to spend their hard-earned cash on Albanian shores.

One such foreign investor is Charles Street Securities LLP, a London-based investment company founded in 1984 by Managing Partner and Chief Executive Gerard Mizrahi. Having seen the real investment potential in the Albanian market, CSS LLP are backing the development of the country’s first high-end resort, Lalzit Bay Resort and Spa, situated close to the capital Tirana on the stunning Adriatic coast.

Mizrahi explains why CSS LLP were keen to get behind such an exciting and ground-breaking project,

“We’re proud to have invested in the emerging market of Albania. Forming an important part of our portfolio, it is clear that there is much room for growth when getting in at an early stage in a market such as this. We are sure that our investment in Albania is a wise one and look forward to a prosperous future.”

The financial backers of Lalzit Bay Resort are in good company. Albania’s Deputy Minister of Energy and Industry, Dorian Ducka, recently announced that the country is anticipating Trans Adriatic Pipeline (TAP) to invest a breathtaking 1 billion Euros of direct foreign investment, making Albania a key player in the movement of natural gas to the Western Balkans.

And this positive movement is set to continue, with Rama having big plans for the continued development of FDI and the future of Albania in general. One such plan that will feature heavily is the expected introduction of an Investment Council that will work directly with those putting money into Albania, providing structure and encouraging collaboration.

Lalzit Bay Resort and Spa offers affordable property options for those looking to invest in Albania. The luxurious resort provides five star facilities, including a beach club and tennis courts, boutique shops, top restaurants and bars.

Properties range from 1 or 2 bedroom apartments to 3 or 4 bedroom villas, boasting spacious indoor and outdoor space, optional private swimming pools and the very best fixtures and fittings, all inspired by California’s elegant and modern beachfront houses. Prices range from €35,000 to €360,000.

With investors such as Charles Street Securities LLP already a part of this improving picture through Lalzit Bay Resort and Spa, the future is looking bright for Albania and for those who have followed suit with their money.

For more information about Lalzit Bay Resort and Spa call +44 845 125 8600 or visit www.lalzitbay.com 

From Bristol to the Balkans – A tale of one man’s Albanian addiction

From Bristol to the Balkans – A tale of one man’s Albanian addiction

by Kate Albania

It may not seem to be the natural leap from the South-West city of Bristol, England’s 6th most populous city, with its bustling crowds of shoppers and famous Brunel-designed Clifton Suspension Bridge, but the undiscovered Albanian coastline, with its golden sands and azure waters, is proving to have a very special magnetic draw for one Bristolian.

Neil Harper, a Business Analyst from the Somerset city, has bought a two bedroom apartment at Lalzit Bay Resort & Spa, after falling for Albania when he visited earlier this summer. The 58-year-old used a combination of savings and pension funds to buy his dream property and explains that the country has a multitude of charms that drew him in,

“The Albanian countryside provides a good mix of mountains, farmland and tremendous beaches and this was a key buying influence for me. Having visited Albania, I also found the people to be undoubtedly friendly and eager to make sure your visit is enjoyable which was wonderfully refreshing. Not only this but the weather in the summer is hot, though not unbearably so, and the beaches and Adriatic Sea are extensive so you can really make the most of your time.”

Just 45 miles across the water from Italy and bordered by the popular tourist hotspots of Greece and Montenegro, the comparison of Albania to its neighbours is an interesting one and one that is not lost on Neil. Recognising that Albania is one of the few underdeveloped countries in relation to mainstream tourism, Neil saw the potential in buying in a market where the cost of home ownership is relatively low and the cost of living approximately half that of neighbouring countries.

He explains that in light of this he purchased his property primarily as an investment, whilst also hoping to use it himself too,

“When buying my apartment I was certainly attracted by the potential within the Albanian property market. Tourism in the country is up 5% year on year and flights into the capital, Tirana, are already available from most European countries, with this coverage hopefully continuing to expand as the popularity of Albania as a holiday destination grows. The country has also recently been granted EU accession status which should provide further benefit in both commercial terms and in boosting tourism.”

And Neil is right to spot the growth in tourism. Albanian Prime Minister Edi Rama recently noted a rise of 14% in the number of tourists visiting the country this year and with the World Travel & Tourism Council (WTTC) revealing in their ‘Travel & Tourism Economic Impact 2014’ report that the direct contribution of travel and tourism to the country’s GDP is scheduled to rise by 5.5% in 2014 and by 5.6% each year until 2024, it is clear that now is the ideal time to invest in a property in this corner of the Balkans.

Given these conditions, and when compared to the financial investment options currently available in the UK, Neil was encouraged by the monetary gains predicted when buying a property at Lalzit Bay. He explains how he plans to use the property as a source of income,

“With typical UK savings gross interest rates of below 2% I have estimated a gross return of circa 8% from the investment in Albania assuming it is let for only the main three summer months. I am making an assumption of 0% growth but I am hoping for a decent rise in the value of the property which, given the current market conditions, seems to be achievable.”

On first glance a somewhat unusual choice as a location to consider when buying an overseas property, it is perhaps easy to see why Neil’s decision was met with initial surprise on the part of his loved ones, yet, as he explains, they soon came round to the idea,

“I think my family and friends were surprised when I said I’d chosen Albania as the country in which to buy, I think because until recently it had not been heavily promoted as a holiday destination. However, when I explained the reasoning for my decision and the potential growth prospects (both in terms of my investment and the country as a whole) they soon saw the sense in what I am doing and being able to show them the development updates means that they are all impressed by what they have seen.

“Although my children are all grown up I have no doubt they will all soon be after a week or two in the sun when my apartment is ready!”

Just 30 minutes from the international airport of Tirana, Lalzit Bay Resort and Spa boasts a breathtaking beachfront location on beautiful golden sands with stunning views of the Dajti mountain range behind. A low-rise five-star development with a host of excellent facilities – from a beach club and tennis courts to boutique shops and top restaurants and bars – the resort offers a range of property options, all built to the highest of standards.

One or two bed apartments are available, like the one purchased by Neil, or three or four bed villas, boasting spacious indoor and outdoor space, optional private swimming pools and the very best fixtures and fittings, all inspired by California’s elegant and modern beachfront houses. Prices range from €35,000 to €360,000.

As someone who has successfully made a purchase of one such property, Neil is keen to offer a helping hand to anyone else looking to do the same. He concludes,

“The only advice I can give potential buyers of property abroad is to do extensive research. Look at any feedback by other purchasers, make a list of all questions you may have and get them answered before you commit, engage an independent English-speaking solicitor, check that the developers are financially secure, pay in stages and just be confident in your own mind that you are making the right choice before you pay any money. Look at it as if you were buying your own home in the UK. This is what I did with my property at Lalzit Bay and I am more than happy with the result.”

For more information about Lalzit Bay Resort and Spa call +44 845 125 8600 or visit www.lalzitbay.com

“Virgin California” surges ahead with impressive 27.9% growth in tourism according to latest UN Report

“Virgin California” surges ahead with impressive 27.9% growth in tourism according to latest UN Report

by Kate Albania
  • 27.9% increase in tourists visiting “Virgin California” (Albania) from 2011 to 2012 (UN World Tourism Organization Report 2014)
  • Increase of 3.6% in tourists to Europe in same period (UN World Tourism Organization Report 2014)
  • Lalzit Bay Resort and Spa offering range of luxury properties on Albanian coast

It was the German politician Franz Josef Strauss who claimed the South-Eastern European country of Albania to be like “Virgin California” when he visited in 1984, in awe of its natural beauty and untapped potential. Now, exactly thirty years on, it has been revealed that Strauss’ claims were true to the mark, with the release of new figures revealing the growth of Albania as a hot tourist destination.

The UN World Tourism Organization Report 2014 shows an increase of 12.6% in the number of visitors to Albanian shores from 2010 to 2011 (the latest official UN data available, from 2,191,000 to 2,468,000) which, when compared to growth in visitors across Europe of just 6.4% in the same period, is undeniably notable. Yet, more recent figures are even more impressive.

The year of 2012 saw 3,156,000 international tourist arrivals for Albania, an outstanding increase of 27.9% from 2011, set within the context of a mere 3.6% growth in visitors throughout Europe in general terms during the same period, proving that with the advancement of the years comes the advancement of Albania’s tourist industry.

And it is not difficult to see what is drawing the attentions of these overseas visitors. Blessed with over 200 days of sunshine annually, Albania is a year-round destination that boasts the wild beauty of striking mountain ranges, golden beaches with azure waters, and bustlingly vibrant city life. Yet Albania is also just 45 miles across the waters from Italy, has a low cost of living and is only a 2 and a half hour direct flight from the UK.

With thousands more people discovering Albania’s charms year-on-year, there is also a marked increase in the numbers of people looking to buy property within the country, as either a base to explore Albania’s wonders themselves or from an investment standpoint – or both.

Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa explains,

“Albania has all the charms of other enduringly popular Mediterranean destinations, yet is more untouched and far better value. It is fantastic that tourism has taken a marked upward turn in recent years as this latest UN Report reveals, with increasing numbers of visitors discovering this hidden gem of Europe. I would say that now is certainly the time to take advantage of that growth and future potential by investing in property in the country.”

Lalzit Bay Resort and Spa is situated on the beautiful Albanian coast, just 30 minutes from the international airport of Tirana, and features a host of 5 star facilities including a beach club, selection of top restaurants and bars, tennis courts and boutique shops.

With a nod to Franz Josef Strauss’ claims, the resort is today bringing the flavour of “Virgin California” to the luxurious properties of Lalzit Bay, with villas designed to make the very most of the warm climate and inspired by California’s elegant and modern beachfront houses. Each boast spacious indoor and outdoor living, optional private swimming pools and the very best fixtures and fittings.

1 or 2 bedroom apartments to 3 or 4 bedroom villas are available, with properties ranging from €35,000 to €360,000.

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

Does Florida hold the key to a retirement that provides the best of both worlds? Gordon says yes!

Does Florida hold the key to a retirement that provides the best of both worlds? Gordon says yes!

by Kate United States

The retirement dream of days of yore has somewhat lost its muster in recent years. Perpetual talk of the devaluation of pension pots, ever-increasing working age limits and much-talked about annuity changes are continually moving the goalposts for those on the brink of retirement. Yet one question remains the same: how do you make the most of your retirement?

Recently revealed by retirement specialist LV that British retirees need approximately £225,756 in their pension pot to enjoy a typical 17 year retirement to the full, it is no surprise that more and more people are looking outside the box for a solution.

Gordon Turner from Barrow-in-Furness, Cumbriathinks he might just have the answer to this age-old question. Reaching retirement in March 2017, Gordon already has a plan mapped out to make the very best of this next phase of his life. Having purchased three properties at The Fountains at ChampionsGate in the top tourist destination of Florida through property investment company Brookes & Co, he plans to live in there for 6 months of the year once he retires (on a tourist visa) and to use the properties for rental outside of his own personal usage too.

Gordon explains more about the financial reasons behind his decision,

“I would like to maintain my current lifestyle once I retire and the properties will allow me to do this as they will bring in a monthly rental. There are financial  benefits to living in the US like the cost of living being approximately 25% less than the UK, fuel being significantly cheaper and cars better value, there is no VAT, you are not taxed on your gas and electricity, you pay less capital gains tax too, and the list goes on.”

And Gordon’s purchases make good financial sense in another respect too. Zillow, the largest property website in the US, recently released data that showed an increase of 14.8% in the value of homes in Orlando in 2014, compared to the previous year, with a projected rise of 7.2% predicted for the Orlando Metro area in the coming 12 months.

However, it is not just the financial gains from a retirement in Florida that appeal to Gordon, he is also attracted to the change in lifestyle that a move to the Sunshine State would bring,

“The benefits to health and a more laid back lifestyle are immense.  Just picture listening to the palm trees swaying in the wind and wearing a shirt, shorts and flip flops as you read the morning paper in the garden instead of hearing the rain and wind belting down on your windows before you put on your heavy coat, scarf, gloves and brolly to face the British elements!

“Just imagine being able to sit on your balcony and have breakfast in 22 degrees of sunshine every day and pop in the pool for an early morning swim – that’s a huge benefit, in fact I would say ‘that’s the start of paradise’.”

And Gordon is not alone in looking to US shores for a happy retirement. Specialist annuity provider MGM Advantage recently revealed that the USA was the third most popular country for UK retirees (behind European destinations of Spain and France), with 16% of those surveyed having a preference for a move to the US when they reach their ‘golden years’.

The family man who currently works as an Engineering Product Safety Manager in the UK did not, however, merely purchase the properties for investment and retirement purposes, although the properties are still in the development stage, he is also looking to utilise the finished homes prior to retirement for holidays with his extensive family. And with two children and four grandchildren of his own and his partner having six children, it suddenly becomes clear why he needed three properties!

Purchasing one three-bed and two four-bed villas, Gordon’s family are big fans of Florida already and have visited a staggering 35 times over the past 24 years, making the very most of all that the state has to offer. From beautiful year-round weather, the enduring entertainment options available at the resort parks of Disney World and Universal Studios and the beautiful beaches, it is clear to see why Florida – and Orlando specifically – has become an increasingly popular holiday choice, with an increase of 2% in tourist numbers in the first quarter of 2014, compared to the same period in 2013.

Philip Button, Managing Director of Brookes & Co, which has been sourcing property in Florida for UK clients for the past decade, comments,

“Florida has long-since been a hugely popular destination for holidays – I have visited with my family more times than I can remember – as well as for the purchase of holiday homes. It is because of this that it also makes an excellent investment choice, with prices on the increase and a growing property market.

“And what a fantastic place to retire! The US, and Florida specifically, has much to offer, both from a lifestyle perspective and financially and I just know that Gordon will be very happy there. I am proud that Brookes & Co have been able to help him with this important decision and that our practice of due diligence has supported him step by step with his purchase.”

Giving him the best of both worlds, Gordon is optimistic that his Floridian purchases will give him the best of both worlds – the ideal base for the perfect family vacation and a retirement option that offers personal fulfilment whilst making sound financial sense. It is clear to see why he exclaims “I can’t wait until I am out in the sunshine state enjoying my new life!”

For more information about buying in the US as well as about the other investments Brookes & Co offer, contact 01621 875 925 or info@brookesandco.co.uk or visit www.brookesandco.co.uk

Oil’s Well that Ends Well: Albania’s property prospects soar amidst the black gold boom

Oil’s Well that Ends Well: Albania’s property prospects soar amidst the black gold boom

by Kate Albania
  • Albania’s oil industry growing amidst investment from industry giants
  • Excellent prospects for Albanian property market, with rental and sales of homes to oil workers
  • 5-star Lalzit Bay Resort and Spa offers high-end properties from as little as €35,000

When thinking of the world’s prevalent producers of crude oil, countries such as the US, Russia and Saudi Arabia may well spring to mind as standout players in a market worth billions of dollars. Yet there is one country, not necessarily synonymous with oil production but increasingly taking its place in a highly competitive market, which is progressively pushing itself to the fore – Albania.

Peer beneath the surface of this South-Eastern European country and it becomes clear that natural beauty is not the only resource that this Balkan gem is rich in. And this is not new news. The Romans began mining the plains of Albania for bitumen for their ships around 2,000 years ago and with the dawn of the 20th century came the more profitable infiltration by external companies, bringing with them increasingly mechanised production and generating impressive yields from this ‘black gold’.

Interest over the years in this field was felt from Italy, the then Soviet Union and China, reaching a peak of almost 43,000 barrels a day produced, totalling 2.2 million tonnes each year. However, Albanian oil production started to decline substantially with the 1990s fall of communism dissolving the once profitable industry.

This was until the last decade when companies from outside of Albania begun to show an interest in its natural resources. Canadian firm Bankers Petroleum’s investment from 2004 has made them a major player in Albania, home to the biggest European onshore oil field, currently producing 19,300 barrels a day.

Part of the wider region that encompasses Montenegro, Croatia and South-Western Greece, many are claiming that Albania is part of a ‘new oil frontier’ that, in recent years, has been party to exploratory and mining work from companies including Albpetrol and Stream Oil and Gas and also gaining interest from industry giants such as Shell, in partnership with Petromanas.

This growing success – and expanding reserves of the oil companies – not only has a knock-on effect for the Albanian economy, as well as strengthening the country politically, it also reverberates within other areas of Albania’s finances.

Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa explains,

“The relatively recent development of the oil industry in Albania is certainly putting the country on the map as a serious player in the European energy market and the effects of this positivity are also being felt within the prospects of the property market. At Lalzit Bay, we have already had enquiries from British, Canadian and Russian buyers who work for corporations that are investing in Albania and have subsequently sold properties to oil workers. I would say the oil effect is definitely beginning to rub off on the property market.”

Savvy investors are beginning to recognise the potential gains in the rental of homes to oil workers vacationing on the stunning Adriatic coast, with low investment levels and high returns on the cards, and the affluent workers themselves are also seeing the benefits of investing their hard-earned monies in a rising Albanian property market too.

There are some excellent – and affordable – developments in the offing in which to do this. One stand-out resort is Lalzit Bay Resort and Spa, situated 30 minutes from the capital Tirana’s airport, the development boasts a beautiful private sandy beach and a range of 5-star facilities, including a range of first-class restaurants and bars, boutique shops, swimming pool, tennis courts and a beach club.

Properties range from 1 or 2 bedroom apartments to 3 or 4 bedroom villas with optional private pools, inspired by California’s elegant and modern beachfront houses. All are built at low density and to the highest of standards. Prices start from €35,000 and range to €360,000.

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