‘Fore’ ultimate golf homes: French property market prepares for the Ryder Cup

‘Fore’ ultimate golf homes: French property market prepares for the Ryder Cup

by Louise France
  • Second ever Continental European Ryder Cup to take place in France, 25-30 September
  • Young golfers in France increase by 11% in 10 years (French Golf Federation)
  • French property market ready for “notable increase” in golf properties (FrenchEntrée)

At the end of September, the Ryder Cup will take place at France’s Le Golf National, some 20 miles south west of Paris. It will be only the second time in the event’s history that it has taken place in Continental Europe. Excitement is building as balls are polished and greens are manicured to perfection.

However, it’s not just the sporting world that is getting ready for the prestigious tournament – France’s property market is also preparing.

“With any event of this stature, the spotlight falls firmly on the host country. France is in an enviable position, hosting the Ryder Cup for its second ever foray into Continental Europe. This means that the country’s golfing credentials will be showcased to viewers around the world. We expect a notable uptick in interest in golf properties as a result – and France has some real gems to offer in this respect.”

Fleur Buckley, Property Services Manager, FrenchEntrée

Golf in France is growing swiftly in terms of its popularity, with a number of initiatives aimed at growing the sport in recent years. The biennial Ryder Cup being held in France will serve as a further boost for the sport.

“The French Golf Federation has 410,000 registered golfers and, according to independent studies over 800,000 golfers in total. In France, golf developed greatly in the 1990’s and 2000s and is now widely accessible, in particular in relation to young players whose numbers continue to grow. Statistics show that the number of under 18’s has grown from 27,000 in 2008 to over 30,000 in 2018; unlike other European countries who have seen their number of junior golfers decline.”

Pascal Grizot, Vice President, French Golf Federation and President, France 2018

As well as its outstanding golf courses, premium French property agents FrenchEntrée point out that France has much to offer when it comes to properties for golfers. Whether buyers are seeking a home near a golf course or even golfing facilities on their own land, France has plenty of variety – with the added bonus that most golf properties in France come with their own outdoor pool.

In Gironde, for example, home to the Bordeaux wine region in south west France, golfers can pick up a beautiful country home, complete with five hectares of land and their own four holes. Stunning 360 degree views offer an ideal setting for driving and putting practice, while the large outdoor pool is perfect for cooling down in at the end of the day.

Of course, for serious golfers, four holes may well not be enough. Thankfully, France still makes the grade. Just an hour from Paris, this Templar farm comes complete with an 18-hole golf course designed by architects Patrick Fromanger and Mark Adam and spread over 53 acres of land. Dating back to the 12th century, the property has a dozen buildings in total, including a Club House restaurant and a pro shop.

Of course, not all golfers have the €5.5 million or so required to purchase their own golf course, other than perhaps a few of those taking part in the Ryder Cup this year. For those on a slightly lower budget, €598,000 is sufficient for a luxury, duplex apartment with beautiful views of the Esterel mountains and the sea. Several nearby golf courses mean players are spoiled for choice, while the various local beaches add to the variety of leisure pursuits on offer.

Meanwhile, down in the scenic Dordogne countryside, this outstanding house with large heated pool sits within the prestigious gated estate at Vigiers Golf Club. The property comes with a family golf club membership included in the sale price of €1.4 million.

“France has a wide range of golf properties available, which means that keen golfers can find the right property at the right price. With the Ryder Cup stirring up interest in French golf properties, it looks like a busy season ahead for the sport and for the property sector.”

Fleur Buckley, Property Services Manager, FrenchEntrée

 

For further information, contact FrenchEntrée on +44 (0)1225 463752 or propertysales@frenchentree.com. You can also visit https://www.frenchentree.com/property-for-sale/.

Hidden Mallorca: Taylor Wimpey España uncovers the truth behind the island’s property market

Hidden Mallorca: Taylor Wimpey España uncovers the truth behind the island’s property market

by Louise Spain ,
  • Balearic property sales down 27% in May (Land Registry)
  • Falling sales attributable to property shortage, not lack of demand (Taylor Wimpey España)
  • New build homes racing to fill the gap between demand and supply: Taylor Wimpey España Mallorca reservations up 25% year to date

Leading Spanish home builder Taylor Wimpey España has shed new light on the state of Mallorca’s property market. While official Land Registry sales figures showed a drop of 27% in May across the Balearic Islands, the Taylor Wimpey España team asserts that this is not due to a lack of demand, but a lack of supply, at least so far as the Mallorca market is concerned.

“We’re seeing an interesting pattern emerge on Mallorca, with buyers sticking steadfastly to what they want from their property purchases. If they can’t find the right property at the right price, they’re pausing rather than settling for second best.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

The new build sector is racing to make up for the shortage of homes that meet buyers’ demands on Mallorca, and Taylor Wimpey España is leading the way. Having been building on the island for 60 years (1958 – 2018), the company is attuned to what Mallorca buyers want. In fact, the company has just been ranked as Mallorca’s top building company by the respected Diario de Mallorca.

One of its most exciting recent developments is Acquamarina, at Cala D’Or. The two-bedroom homes are surrounded by lush gardens, with a large communal pool. Buyers can choose between ground floor homes with large terraces, private porches and gardens, or penthouses with private solariums offering magnificent views. Prices start from €220,000 plus VAT.

The high end specifications at Acquamarina epitomise the luxurious standards that Mallorca buyers are looking for – and that they are prepared to wait for.

“Buyers are choosing new build homes in order to get what they want from a market that otherwise has limited options. It’s about not compromising on quality. If buyers can’t find what they want, they are happy to wait until they can purchase the level of luxury that they have in mind.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Taylor Wimpey España’s figures reveal the truth of the situation, with Mallorca reservations up by 25% year to date compared to 2017.

In simple terms, new build homes are delivering what buyers want, and what they can’t find elsewhere on the island. Mallorca’s property market is actually alive and well – it’s just that buyers’ purchasing patterns are shifting more towards new build developments, meaning that official figures are hiding the market’s real story.

 

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit http://www.taylorwimpeyspain.com/. If you reside outside of the UK you will need to call 00 34 971 706 972.

Taylor Wimpey España launches Pier at Sotogrande, as demand for new Spanish homes surges this summer

Taylor Wimpey España launches Pier at Sotogrande, as demand for new Spanish homes surges this summer

by Louise Spain ,
  • Pier to provide 64 exceptional frontline homes at La Marina de Sotogrande
  • New build sales in Spain up 7% in May (INE)
  • Many British buyers racing to settle in Spain before Brexit

Leading Spanish home builder Taylor Wimpey España has announced the pre-launch of a brand new development in one of the most prestigious residential areas of southern Spain. Pier, at Sotogrande, will feature exceptional apartments with views over La Marina de Sotogrande.

The largest privately owned Andalusian residential development, Sotogrande has a long history of welcoming wealthy expats, as well as some of Spain’s most powerful (and rich) residents. It was created in the 1960s from five adjacent farms, all facing the Mediterranean, and has been popular with the international jet set ever since.

“We are delighted to pre-release details of the exciting new Pier development, which will offer well-sized apartments within a private, gated community with superb on-site facilities. With extensive terraces and marvelous views across the marina to the sea, the homes at Pier will perfectly capture the elegance of this unique setting.” 

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Interestingly, buyers at this pre-release stage can opt not just for two and three-bedroom apartments, but also to join two units together to create an exceptionally spacious four or five-bedroom home with large reception rooms.

The launch announcement coincides with a significant jump in demand for new homes in Spain. According to the Spanish statistics agency INE, new home sales shot up by 7% in May (compared with an increase of just 5% for existing property sales). British buyers are certainly doing their bit to contribute to the rising numbers, with many seeking to secure a new home in Spain before the UK leaves the EU in 2019.

Spain is particularly popular with British retirees, thanks to its proximity to the UK, fabulous climate, excellent healthcare and vast array of leisure pursuits. According to the Office for National Statistics, 41% of British expats in Spain are aged 65 and above. The number is expected to rise over the coming year, as Brexit pushes many retirees to head to sunnier climes while they still have the freedom of movement to do so.

Properties such as those built by Taylor Wimpey España are ideal for retirees, as well as younger buyers looking for the perfect holiday pad. At Pier, for example, communal swimming pools and lush, landscaped gardens provide the perfect setting for relaxation, whether it be as part of a holiday or a longer-term arrangement. Each apartment features at least one terrace, while penthouses come with private solariums. All front terraces face East and Southeast, for plentiful sunshine.

“Life in southern Spain offers so much more opportunity for spending time outdoors than life in the UK, thanks to the excellent climate. That’s why the apartments at Pier all feature large terraces for enjoying the outdoor lifestyle, from dining al fresco to simply stretching out in the sun with a book.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Pier will consist of two nautical style blocks, in keeping with their position as first line homes on La Marina de Sotogrande. The 64 apartments will be split into one block of 56 homes and one block of eight, with prices starting from €398,000 plus VAT for a two-bedroom residence.

 

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit http://www.taylorwimpeyspain.com/. If you reside outside of the UK, you will need to call 00 34 971 706 972.

Oh I do like to be beside the RIVERside!

Oh I do like to be beside the RIVERside!

by Louise France
  • Riverside living offers ultimate peace and tranquillity (FrenchEntrée)
  • Superb selection of riverside homes available in France, from village properties and watermills to châteaux and converted monasteries
  • France expecting strong 2018 tourism figures (Atout France)

With the summer holiday season just beginning, many of those visiting France will be doing so with one eye on the local property market. With 38% of tourist offices and other tourism bodies in France anticipating an increase in visitor numbers over the season, and 37% projecting stable activity, according to Atout France, that’s a lot of potential buyers. Indeed, France welcomed some 87.3 million visitors in 2017, making it the world’s most visited country. If even a small fraction of those holidaymakers turn their break into a property purchae, France’s property market could be in for a bumper summer season.

In anticipation of this, premium French property agents FrenchEntrée have flagged up the popularity and benefits of riverside living, while showcasing the superb selection of riverside homes that buyers in France can access. From secluded riverside châteaux to high end apartments in a converted monastery, France is home to a wide range of unique riverside properties.

“Living by the water brings with it a whole host of benefits and buyers in France are spoiled for choice when it comes to finding the perfect riverside home. We’re increasingly unable to disconnect and be mindful in our busy modern lives and this is a key reason that many of our riverside property buyers cite for their choice of location – peaceful surroundings have taken on a new importance in recent years.”

Fleur Buckley, Property Services Manager, FrenchEntrée

Riverside living is the ideal way to escape the over-stimulation of modern life and a connection to water has been shown to benefit both physical and our psychological health. It promotes relaxation and reduces stress. Indeed, the restorative nature of sea air has long been used to help people convalesce, while the serenity of riverside life has inspired everything from poetry to paintings.

“With riverside properties, owners tend to enjoy lush greenery as well as access to the water itself, meaning that they get the best of both worlds. One of the benefits of buying a riverside home in France is that the climate serves to encourage lush natural beauty, as well as lending itself perfectly to lazy days on the river.”

Fleur Buckley, Property Services Manager, FrenchEntrée

The cost of buying a riverside home in France can also be an advantage. In the popular, sunny Dordogne region, buyers can pick up a fully restored riverside property on a large plot of land for just €182,000 – well below the average UK property price.

 

Gorgeous riverside homes currently on the market

This restored riverside chateau between Sarlat and Souillac is set in verdant parkland. Close to the Dordogne valley, it boasts some exceptional original and characterful features from the 15th century building. The chateau is on the market for €609,000.

Those looking for a smaller but still exceptional property will be delighted by this two-bedroom apartment in a converted monastery. The apartment is finished to a high standard, with on-site facilities including a large, heated swimming pool, pretty gardens and river access. Priced at €199,000.

This highly desirable Dordogne riverside home has been fully resorted, including a new roof, gas central heating, electrics and plumbing. With its own frontage onto the Dordogne river, the property benefits from an unusually large plot, as well as being just 15 minutes from Bergerac airport. It is available for €182,000.

 

For further information, contact FrenchEntrée on +44 (0)1225 463752 or propertysales@frenchentree.com. You can also visit https://www.frenchentree.com/property-for-sale/.

 

 

 

 

Tourists picking up property as well as paella as visitors flock to Spain with ever-bigger wallets

Tourists picking up property as well as paella as visitors flock to Spain with ever-bigger wallets

by Louise Spain ,

 

  • Tourist numbers up 2.1% for summer season, to 30.4 million visitors (Minister of Industry, Trade and Tourism)
  • Tourist spending up 4.1% year on year, netting Spain €34m
  • Tourists increasingly looking to pick up property as well as paella (Taylor Wimpey España)

Spain’s Minister of Industry, Trade and Tourism has projected a 2.1% rise in visitor numbers, as the summer season gets underway in Spain. Reyes Maroto is confident that Spain will attract a record 30.4 million foreign tourists in the third quarter of 2018.

Not only are more visitors expected, but those visitors are expected to spend more while in Spain. The projected expenditure of €34m is an increase of 4.1% compared with the same period in 2017. And, according to leading Spanish home builder Taylor Wimpey España, this extra expenditure is filtering through into the property market as well.

“There’s a real sense of momentum when it comes to the Spanish property scene at the moment. The summer season is always busy, but this year there seems to be particularly strong interest from British buyers – perhaps as a result of the pre-Brexit race to the sunshine, as the March 2019 split with the EU approaches.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

With tourists increasingly interested in picking up property as well as paella, Spain’s regions are rushing to meet their needs. The Centre for Costa Del Sol Tourism, for example, is undertaking more than 60 promotional campaigns for its region, representing and investment increase of 50%. The province is preparing to welcome some 7,000,000 visitors (up by 104,000 over last year), who are expected to spend around €7.4 billion – a 3.6% increase on 2017.

Tourism has long been one of the Costa del Sol’s major economic influences. With stunning beaches and pristine golf courses, the province attracts visitors from across Europe – and beyond. Now, many of those tourists are honing in on properties such as those at Estepona’s Green Golf.

Just 3 km from the golden sands of the Mediterranean coastline, Green Golf is home to 48 three-bedroom, three-bathroom villas with large, south-facing terraces and spacious living quarters. Owners enjoy special discounts on all services and facilities at Estepona Golf, as well as the lovely communal gardens and pools that are part of the private residential development.

Green Golf enjoys stunning panoramic views over the golf course and to the sea. It also boasts strong environmental credentials, with solar panels, thermal insulation, soundproofing and a natural ventilation system.

“It’s important to ensure that as an area’s popularity evolves, so too does its property market. That means using new technology to ensure that our properties are increasingly built in harmony with the local environment, from harnessing the sun’s energy through solar panels to using clever building design reduce energy consumption and enhance natural ventilation.”

 Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Mainland Spain is not the only part of the country looking forward to an impressive summer season. On the Balearic Island of Mallorca, tourist establishments are gearing up for a bumper summer – and so is the property market. The newly released properties at Acquamarina, for example, are everything one could wish for in a second home. Close to the beach and with plentiful outdoor space for enjoying the Mallorcan climate, the two-bedroom homes are set in a tranquil oasis of lush communal grounds. There’s a large shared pool for cooling off and private gardens/terraces/solariums for achieving a sense of ultimate relaxation.

“Both mainland Spain and the islands are looking like they have a prosperous summer ahead when it comes to tourist spending, with local property markets in tourist hotspots set to benefit accordingly.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

 

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit http://www.taylorwimpeyspain.com/. If you reside outside of the UK you will need to call 00 34 971 706 972.

Sweet gîtes for every budget – FrenchEntrée heralds the start of the annual gîte-hunting season

Sweet gîtes for every budget – FrenchEntrée heralds the start of the annual gîte-hunting season

by Louise France
  • July and August are the time for would-be buyers to undertake research (FrenchEntrée)
  • Most popular areas include Brittany, Normandy, Poitou-Charentes, Limousin, the Dordogne and Languedoc-Roussillon
  • Gîte hunters looking for the ideal blend of affordability and rental potential

Premium French property agents FrenchEntrée are gearing up for the annual ‘gîte-hunting season’ in France. Every July and August, British holidaymakers head across the channel in search of sunshine, relaxation and the perfect property, with gîtes offering the ideal blend of affordability and rental potential.

“At this time of year, we tend to see holidaymakers combining their downtime with research into France’s gîte market. Typically, visitors are exploring areas where they are considering making a purchase to find out about local amenities, transport connections, social considerations and so forth. Many of these holidaymakers use the summer months to really get to know their preferred region, prior to purchase a second home there further down the line.”

Fleur Buckley, Property Services Manager, FrenchEntrée

Brittany, Normandy, Poitou-Charentes, Limousin, the Dordogne and Languedoc-Roussillon are all popular with British buyers. Each area offers its own unique charms. Brittany is all about coastal walks, wide sandy beaches, open skies and green hills. Normandy also boasts beautiful beaches, backed by rich farmland and overflowing with orchards. The inland Dordogne region, meanwhile, offers gently undulating hills, historic towns and magnificent river vistas. Of course, this being France, each area also offers its own unique, gourmet cuisine, focusing on fresh, local ingredients that change with the seasons.

Every region also offers its own style of gîte. In technical terms, a gîte is a property that has an owner living nearby, to welcome guests and provide assistance. This means that many gîtes are former farmworkers’ cottages or outbuildings that have been converted into living accommodation. As such, they can vary in size – and price – quite considerably. This is excellent news for British buyers, as it means that there is a gîte to suit every budget.

“The depth of variety in the gîte market means that buyers are often spoiled for choice. That’s why the summer months are so key to potential purchasers – they want to explore in detail what France has to offer before homing in on a particular location and property. Of course, many are also buying with rental potential firmly in mind, so are researching local holiday rental markets as well during their visit.”

Fleur Buckley, Property Services Manager, FrenchEntrée

Gîtes are incredibly popular with tourists and are in abundant supply. Estimates suggest that there are five gîtes available for every person who wants to book one. Even with France topping the list of the world’s most visited countries, making a living from a gîte is unlikely in such a saturated marketplace. However, many would-be purchasers have a realistic view of this and are happy to factor only a few weeks’ rental income per year into their plans, according to FrenchEntrée. As such, let the gîte-hunting season begin!

 

Gorgeous gites currently on the market

In the Uzel area of central Brittany, this delightful, renovated farm complex comes with three habitations, two of which are in use as gîtes. The property also benefits from a heated swimming pool, terraces, children’s play area and orchard.

Set in almost 40 acres of land in the Charente-Maritime, Poitou-Charentes region, this stunning property is new to the market. The beautifully renovated stone house comes with two gîtes, spa with sauna and treatment rooms, saltwater pool and summer kitchen area and fabulous grounds, including an orchard and a meditation meadow.

Buyers looking for more of a project will love this small chateau in Limousin, which is packed with potential for someone looking to create a fantastic gîte complex. Bordering a cascading river, the property has around 24 rooms, which could be separated into six or more dwellings. Packed with character, this property enjoys a scenic, peaceful setting that is perfect for promoting relaxation.

 

For further information, contact FrenchEntrée on +44 (0)1225 463752 or propertysales@frenchentree.com. You can also visit https://www.frenchentree.com/property-for-sale/.

Latest figures confirm strength of Spanish property market

Latest figures confirm strength of Spanish property market

by Louise Spain ,
  • Transactions up 4.7% in May year on year (INE)
  • Overseas buyers bolstering coastal regions like Andalucía (Taylor Wimpey España)
  • Sun, sea and golf combining to attract buyers to purchase second homes (Taylor Wimpey España)

Spain’s national statistics agency, the INE, has just released property sales figures for May 2018. The numbers show an increase in the transfer of property rights of 4.7% compared with May 2017.

The figures back the strong demand that leading Spanish home builder Taylor Wimpey España is experiencing for properties in popular coastal areas.

“The Spanish property market is going from strength to strength, with the latest INE figures confirming robust, continuing growth. In Andalucía, property sales are increasing well above the national average, up 7.2% year on year according to the INE.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Demand for homes such as those at La Floresta Sur in Marbella, Andalucía reflects the INE’s impressive figures. The spacious apartments near Elviria beach are set in striking natural surroundings, with the oak and pine forest declared a natural biosphere reserve by UNESCO. The key ready two and three-bedroom apartments blend outdoor and indoor living to make the most of the Mediterranean lifestyle. Communal facilities include lush gardens and two large swimming pools.

Owners at La Floresta Sur enjoy direct access to El Soto Golf Club, while the well-known La Cala Golf Resort and Santa Maria Golf resorts are just a 10-minute drive away. The famous Nikki Beach Club, popular with celebrity patrons, is also just a few minutes from the development.

“Overseas buyers are doing much to help the Spanish property market right now, which is one of the reasons that the Andalucía property market is performing so well. Beautiful sandy beaches, world-class golfing facilities and reliably sunny weather are an alluring combination for buyers looking for a top quality second home.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

 

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit http://www.taylorwimpeyspain.com/. If you reside outside of the UK you will need to call 00 34 971 706 972.

5 things you need to know before buying a property in Spain

5 things you need to know before buying a property in Spain

by Louise Spain ,

Falling in love with Spain isn’t hard. The gorgeous beaches, abundant sunshine and affordable, delicious food and wine can quickly get under visitors’ skin. Golf lovers are also particularly well served by Spain, which has around 350 golf courses, many of them championship quality.

However, holidaying somewhere and buying a property there are two very different matters. As such, leading Spanish home builder Taylor Wimpey España,  with its 60 years of experience, has provided its five top tips on what overseas buyers need to know before they put their money into the Spanish property market.

“Every country has its own unique quirks when it comes to buying property, and Spain is no different in this respect. Understanding the local market can ensure a pleasurable buying experience rather than a stressful one, so it’s well worth taking a little time to research everything you need to know in advance.”

Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España

 

Taylor Wimpey España’s 5 top tips for buying a property in Spain:

  1. Choose the property type carefully

Different types of property come with different financial implications. For example, many buyers assume that condominium charges only apply to apartments. However, they also often apply to townhouses and villas built on private estates. As two thirds of foreign buyers in Spain opt for these types of ‘community properties,’ according to Just Landed, buyers should be sure to check the details as part of the viewing process.

  1. Arrange viewings early

The summer months are an incredibly busy time for the Spanish property market, so it’s advisable to book viewings as far in advance as possible. Don’t assume that it’s possible to just turn up and have a viewing on the same day without arranging an appointment in advance. While that may well be doable over the winter months, it’s unlikely to be the case during the peak summer season.

  1. Check the paperwork

It’s important to view the nota simple (similar to a Land Registry extract) before committing to buying a home in Spain. This is available from the Colegio de Registradores in Spanish, or in English for an additional fee. For new build homes, popular with many overseas buyers, the final building certification paperwork and guarantees all need to be in order, including certification from a registered architect that the property is finished.

Buying with an established housebuilder such as Taylor Wimpey España offers a comforting degree of certainty in this respect, as all its new build homes come with final building certification, plus a guarantee that they comply with all relevant planning permissions. At La Floresta Sur, Elviria, Marbella, for example, the key ready apartments and penthouses, with communal gardens and pools, have all the paperwork in place for a swift and easy purchase process.

  1. Check the cadastral value

Purchase tax in Spain is based on a property’s cadastral value. Interestingly, this value can differ from the sale price, as it is calculated based on the council’s valuation of the property, rather than on the seller’s. As such, buyers should not make assumptions about the purchase tax amount, but should instead check the cadastral value at the relevant regional government’s online tax agency site.

  1. Choose a trusted seller

Perhaps an obvious point, but one that’s still worth making. Choosing a company with a long, strong track record (such as Taylor Wimpey España’s 60 years of building homes in Spain) brings considerable peace of mind. Not only does it offer assurance as to the design and build quality of the property, but also in relation to how easy the transaction is likely to be – a key consideration when buying a home in another country.

 

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit http://www.taylorwimpeyspain.com/. If you reside outside of the UK you will need to call 00 34 971 706 972.

Regional property markets race to catch the capital

Regional property markets race to catch the capital

by Louise United Kingdom ,
  • Property price gap between London and other cities to narrow over next 1-2 years (Hometrack)
  • Tax changes driving shift in regular market cycles (Surrenden Invest)
  • Edinburgh, Manchester and Birmingham enjoying annual price rises of 6.5% and above

 

The latest Hometrack UK Cities House Price Index projects a narrowing of the property price gap between London and the UK’s other cities over the next year or two. For investors, the choice is clear – regional cities are the place to be if they wish to profit from property. But are we at risk of completing the same cycle as we saw just over a decade ago, or has the market learned from its previous mistakes?

“While many factors mirror the housing market’s performance back in the early 2000s, there are some substantial differences that look set to bring about different outcomes from this state in the cycle. Tax changes are playing a key role in this, as are the rising quality and security standards of regional city developments.”

Jonathan Stephens, MD, Surrenden Invest

At present, house price inflation stands at 4.3% for the UK as a whole over the past year. For London, the figure drops to just 0.4% over the same period. Edinburgh has seen the highest increase in values, at 7.1% over the year to April 2018, closely followed by Manchester, at 7.0%.  Birmingham also fared far better than average, at 6.5%, as did Liverpool, at 5.9%.

The regional success stories stand in stark contrast to the price falls seen in 20 of London’s 33 local authorities. Developments such as Westminster Works in Birmingham are thus offering investors far more potential for capital growth, as well as healthy yields. Ideally positioned to benefit from the HS2 Curzon Street station scheme, as well as the redevelopment taking place as part of the Smithfield masterplan, the premium apartments are raising the bar for rental accommodation in Birmingham. The luxurious apartments come with a range of top facilities, including a concierge service, secure on-site parking and smart home, eco-friendly technology in every home.

The same trend of the regions racing to catch up with London’s prices occurred between 2002 and 2005, when London saw weak growth after a period of strong performance from 1996 to 2000. Regional markets had lagged behind, but began reporting strong performance from 2001 onwards, thus narrowing the price gap.

However, leading property investment agency Surrenden Invest is quick to point out that the current market has a number of significant differences to that of the early to mid 2000s. While the cycle appears similar, secondary cities may actually stand a more realistic chance of catching up to London’s prices than they did previously.

“People have been saying that London is too expensive since before Black Monday in 1987, yet over the last 30 years property prices there have grown enormously. Still, there comes a point when a market becomes too expensive to bounce back quickly, even when there are chronic underlying supply issues, as is the case with London. The city remains one of the world’s most significant and sophisticated property markets, but that doesn’t mean that it can’t suffer a sharp, swift price correction – or that it could quickly recover from such an occurrence.”

Jonathan Stephens, MD, Surrenden Invest

In previous property market cycles, the regions have narrowed the price gap between their cities and London, only for London’s prices to race ahead once more. This time, though, the quality, security and corporate governance of nationwide developers are far stronger than they were even ten years ago. Previously a concern for risk-averse buyers, these strong credentials – and the attractive yields on offer – mean that regional cities stand a good chance of catching up to London’s prices outside of the standard cycles that we’ve seen over the past 20 years.

Another contributing factor is the new Stamp Duty regime. Many of London’s properties are located in prime and super prime locations, costing upwards of £1 million. The sale of those properties has been significantly hampered by the higher tax rates, as well as the additional 3% charge on second homes. With regional properties available for significantly less money, the tax burden is reduced sufficiently to make regional property purchases more attractive than London ones in the eyes of many investors.

“Are we likely to see the regions catch up relative to London in terms of their property prices? Probably not, as London remains a uniquely appealing market. However, what we are likely to see is a sustained and significant narrowing of the price gap, as regional cities hold fast in the wake of London’s price correction.”

 Jonathan Stephens, MD, Surrenden Invest

 

For more information, visit www.surrendeninvest.com or call 0203 3726 499

Estate agents brace for Tour de France effect

Estate agents brace for Tour de France effect

by Louise France
  • World’s largest cycling road race is France’s “best advertising campaign” (FrenchEntrée)
  • Surge in interest in French property likely to run along the route
  • Fontenay le Comte, Fougères and Trie sur Baïse flagged as areas of particular interest

All eyes will be on France’s Noirmoutier-en-l’Île on 7 July, as the world’s biggest road cycling race kicks off once more. The Tour de France is possibly the most famous cycle race on the planet. Each year, it generates millions in revenue for the towns and cities that host the various stages. However, there are additional ‘unseen’ benefits to the race as well, according to premium French property agents FrenchEntrée.

“You couldn’t devise a better advertising campaign for France than the Tour de France! From the stunning urban architecture to the misty mountains to the rolling countryside, the race shows France at its very best – often including its glorious weather as well. It’s no wonder that it generates a surge of interest in French property each year!”

Fleur Buckley, Property Services Manager, FrenchEntrée

Anywhere and everywhere along the Tour de France route can attract interest from overseas property buyers. Millions of fans line the route every year, many of them travelling from elsewhere in Europe (and beyond) in order to be part of cycling’s greatest event. In addition, tens of millions of global viewers enjoy the experience on television.

This year, FrenchEntrée predict keen interest in properties in Fontenay le Comte, Fougères and Trie sur Baïse.

At the finish of stage 1, Fontenay-le-Comte is in France’s Pays de la Loire region. The pretty Vendée River flows through the town, which is home to a number of beautiful churches and other historic buildings.

Fougères, meanwhile, which hosts the start of stage 7 of the 2018 Tour de France, has one of the finest castles in Europe. The Brittany town is home to a lively Saturday market, along with some fabulous examples of medieval architecture.

Surrounded by beautiful countryside and quaint villages, Trie-sur-Baïse, the start of stage 18, is a historic market town that exemplifies traditional French life. The weekly market is the ideal place to shop and socialize, while a market specialising in goose and duck produce is held weekly over the winter months.

“France has something to offer every individual taste and budget, which is one of the things that makes it such a perennially popular destination with overseas property buyers. We’re expecting a busy summer season – as ever – with interest along the length of the Tour de France route, as it showcases this beautiful country to the world.”

Fleur Buckley, Property Services Manager, FrenchEntrée

 

Tour de France properties currently on the market

Fontenay-le-Comte: This large, impressive house enjoys magnificent views over the wooded countryside. The six-bedroom property comes complete with playroom, video room (home cinema) fully equipped and soundproof, hammam with rest room, leisure room, three garages, a greenhouse and around 5,450sqm of mature parkland planted with oak trees, cedars, rhododendrons and a superb weeping beech tree.

Fougères: This enormous 16th and 19th century dwelling offers peace and seclusion, and is packed with traditional charm. With a square courtyard, outbuildings, chapel and two beautiful round towers with pointed roof tiles, this is a property to truly capture the imagination. The property covers 24.76 acres, with meadows, woods, a pond and a park with a swimming pool.

Trie-sur-Baïse: This recently restored, nine-bedroom home comes with its own pool and gîte. The property is packed with character and luxury touches, from its multiple marble fireplaces to its sweeping views over the rolling countryside with the Pyrenees as a backdrop.

 

For further information, contact FrenchEntrée on +44 (0)1225 463752 or propertysales@frenchentree.com. You can also visit https://www.frenchentree.com/property-for-sale/.