Gone in 60 minutes!

by Viv United Kingdom

 

 
During these difficult times you would be hard pressed to imagine that property sales could still exceed expectations, but one recent sale of a property in Berkshire has done just that. Award-winning premier estate agent Barton Wyatt, who sell exclusive properties in Berkshire and Surrey, agreed a sale last month on a four bedroom penthouse apartment overlooking Sunningdale Golf Course in just 60 minutes, with the exchange finalised in just 24 hours, proving that the right properties are still selling – and fast!
 
As Sales Manager for Barton Wyatt Oliver Clarke explains, this was an unprecedented move that took the owner by surprise:
 
“I showed the prospective buyer around the penthouse on a beautiful winters day in February when the country was covered in a blanket of thick snow. We spent a good hour looking over the luxury property which was on the market for £1,650,000 before heading outside where we met the owners returning from a walk. The purchaser asked to see the garage in which we sheltered from the snow. The prospective purchaser then made the owner an offer there and then in the garage to exchange by the close of play that day telling them that he had bought his last house in just three hours and that if his offer was acceptable, he would instruct his solicitor to do the same this time.
 
"Due to the snow we had to wait until 1pm the following day to exchange, but exactly 24 hours after the prospective buyer had seen the property for the very first time, we exchanged contracts. After three months of raising enquiries, it just goes to show that with the right property and the right buyer, a home can sell very quickly indeed – leaving the owner slightly bemused but very pleasantly surprised by what could take place in just 24 hours!”
 
Barton Wyatt – who recently also broke a record by selling the most expensive property per-square foot on Surrey’s famous Wentworth Estate – market prestigious properties in areas that include Virginia Water, Sunningdale, Englefield Green, Ascot and the Wentworth Estate. To learn more about the homes that Barton Wyatt are offering for sale, or to discuss the prospect of Barton Wyatt marketing your property, contact them on 01344 843000 or visit www.bartonwyatt.co.uk.
 
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Editor’s Notes
 
5 Chanctonbury Drive, Sunningdale, £849,950
 
A well proportioned and elegant house, the property is located on a very quiet cul-de-sac off of one of Sunningdale’s premier roads. A very well presented detached executive home, the house has five bedrooms and is within easy reach of the village and mainline railway station.
 
From the spacious entrance hall there is access to all main reception rooms, the drawing room being a particularly pleasant triple aspect room with sliding patio doors opening out onto the rear garden. The dining room is open plan from the entrance hall with a door leading into the kitchen/breakfast room with a good range of units, a large breakfast area with sliding patio doors and a utility room off of it. There is also a good sized downstairs cloakroom and a bright study with garden views.
 
On the first floor, the master bedroom features a luxury en-suite bathroom with separate shower and Victorian style free standing roll top double ended bath. There are four further good sized bedrooms and a family bathroom with a separate shower.
 
The front of the property has parking for a number of vehicles, a double garage, lawn and mature flowerbeds and the rear garden has a terrace, lawns and mature hedges. It also features a raised pond.
 
Priced at £849,950, for more information contact Barton Wyatt on 01344 843000 or visit www.bartonwyatt.co.uk.
 
Three bedroom apartment, Lyne Place Manor, Lyne, £335,000
 
This spacious two storey apartment is set in a fine country house approached via a long driveway of a third of a mile, meandering through paddock land and fields. Lyne Place Manor backs onto woodland and is set within 8 acres featuring landscaped gardens and a tennis court. Just two miles from Virginia Water and close to the Wentworth Club, Sunningdale, Virginia Water Lake and Savill Garden, the property boasts three bedrooms, family bathroom, attractive sitting room with open fireplace, cloakroom, kitchen, roof garden and parking.
 
The property is for sale at £335,000 and for more information, please contact Barton Wyatt on 01344 843000 or visit www.bartonwyatt.co.uk.

‘Credit crunch defying destinations’ – Record sale for Wentworth Estate property

by Viv United Kingdom

 

It has been a long, cold winter and as a mark of true pathetic fallacy, it is easy to see this gloomy weather as a reflection of the hearts and minds of the general public, who have seen their everyday lives and finances drawn into what is being described by Ed Balls, Schools Secretary, as “the most serious global recession for over 100 years”.  However, in these somewhat dark times it is heartening to discover that it is not just the snowfall that is breaking records – some areas of the UK are defying the odds with their property prices, standing out as a beacon for hope in this storm of financial woes.
 
Surrey’s Wentworth Estate has long been a popular, luxury location with a multiplicity of celebrity residents over the years, from golfers Ernie Els and Sam Torrance to Cliff Richard and Elton John, amongst many others. Prices are known to be high in this popular enclave, said to be one of the most exclusive residential areas in Europe, but one recent sale has set a new standard. Local estate agency Barton Wyatt, named ‘Best Estate Agency Surrey’ in the Daily Mail UK Property Awards 2008, sold a property in Wentworth Estate’s Portnall Rise for a record price last month, making it the highest-ever price per square foot on the Estate.
 
Rupert Wyatt, managing partner of Barton Wyatt, explains more,
 
“The Wentworth Estate is synonymous with highly desirable property and this has always been reflected in the asking prices. Our recent sale, however, smashed the previous record price of just under £1000 per square foot recorded in July 2008 for a property on the Estate, setting a new level of £1,291 per square foot. Interestingly, the property was a modest house of four bedrooms but its superb location within a highly sought-after area meant that even in these times a new record was achieved.”
 
Not only has this particular property ranked highly in terms of its sale price, but neighbouring roads Waverley Drive and Portnall Drive on the Wentworth Estate have also seemingly defied national trends by ranking second and third respectively in the Mouseprice Street Rankings 2008 for the South East region, making them both within the top three most expensive roads in the region. Falling within the remit of Runnymede Council, figures from the Land Registry for October to December 2008 also show that the borough’s overall fall in house prices was less than the Surrey average, a decline of 8.34% compared to Surrey’s average of 9.2%.
 
The old adage ‘location, location, location’ is one that remains true even to this day, with those properties ideally situated securing the greatest prices and the Wentworth Estate, with its world-famous Wentworth Club, restaurants and shops, just one example. Nearby Windsor and Maidenhead have seen, according to the Land Registry, the smallest decline in average house prices (a drop of 6.2%) in the last year, which given the current recession is heartening news and places them in the top of the highest priced counties in England and Wales. It is not difficult to see why this might be, with the county home to some of the best state and private schools in the country as well as boasting excellent transport connections in prime commuter belt territory.
 
Location and reputation are also important factors in the ranking of property prices in central London which came in third place in the World´s Most Expensive Residential Real Estate Markets 2009 report by the Global Property Guide. Based on the average price of a 120 square metre high-end used apartment in the city centre, London’s price of $20,756 per square metre placed it only behind Monte Carlo and Moscow which, given that there has been much talk about the financial troubles affecting the UK market more than other world markets, apart from perhaps that of the US, this reiterates that now, more than ever, buying in a prime location is key.
 
Rupert Wyatt aptly concludes,
 
“These are unmistakably difficult times for all, with financial worries and tightening purse strings affecting day-to-day life for most, but when buying a property in these tough times it is important to remember that, as always but especially now, prime locations will continue to rank highly, now and in the future.”
 
To find out more about the properties Barton Wyatt has for sale in the Surrey / Berkshire regions, including the Wentworth Estate, Virginia Water, Sunningdale, Ascot and Englefield Green, contact 01344 843000 or visit www.bartonwyatt.co.uk.
 
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Editor’s Notes
 
The Dormy House, Portnall Drive, Wentworth Estate, Surrey, £595,000
 
A superb ground floor apartment in an idyllic setting in the heart of the Wentworth Estate, with uninterrupted panoramic views over the second hole of the Championship East Course. The property is situated within a unique building consisting of 11 private apartments converted from what was the original Wentworth Clubhouse and now offers a tranquil and exclusive environment for residents.
 
In excellent decorative order and with new wiring and gas central heating the property boasts two bedrooms with built in wardrobes, luxury bathroom with marble surrounds, fully-fitted kitchen with granite work surfaces and breakfast bar and good sized sitting room with French doors opening out onto the conservatory which has custom built blinds and electric roof blinds.
 
Outside, there is a garage and a private south-facing garden with a good sizes patio area, which has uninterrupted views down the second fairway, and lawn and is stocked with a wealth of mature and manicured rose bushes creating a riot of colour in the Summer months.
 
The apartment is priced at £595,000 and for further information please contact Barton Wyatt on 01344 843000 or visit www.bartonwyatt.co.uk.

 
8 Pinecote Drive, Sunningdale, Windsor and Maidenhead, £1,550,000
 
A superbly extended family home in a quiet cul-de-sac in one of Sunningdale’s premier roads, 8 Pinecote Drive is a short distance from Sunningdale village and railway station and within easy access of road and airport connections.
 
Very attractive bright accommodation that flows well, the house has five ensuite bedrooms, master bedroom with en-suite dressing room, sitting room with fireplace and skylights, study, superb 40’ kitchen/entertaining room with views of the beautiful gardens, snug area, utility and family room. The property also boasts a double garage and mature gardens with a stream. 
 
The property is priced at £1,550,000. For further information please contact Barton Wyatt on 01344 843000 or visit www.bartonwyatt.co.uk.

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Will you be a ‘super trouper’ to Greece this year?

by Viv Greece

After the success of the hit film Mamma Mia in 2008, the highest grossing film of all time at the British box office, there can only be a small minority of people who have escaped the draw of the crystal clear waters and the archetypal white wash houses against the piercing blue skies of the southern Mediterranean. Well it appears that Greece hasn’t escaped the attentions of the low cost and leisure airlines either, with several announcements recently to increase numbers of flights to the mainland and islands from the UK. Greece is sure to be the ‘dancing queen’ of 2009.

EasyJet has a number of target destinations in Greece including Santorini, home to one of natures great wonders, the Santorini Caldera, and Corfu, made famous by Gerald Durrell in his novel ‘My Family and Other Animals’. EasyJet will be flying to Santorini three times a week from London Gatwick with Manchester and Bristol adding flights to Corfu to their schedule.
It isn’t just the islands which are proving popular, Monarch has announced new flights to Volos on the mainland, Greece’s third city, famed for some of the best seafood in the country and a good base if one wants to visit the beautiful Sporades islands of Skiathos, Skopelos and Alonissos. The flights will jet people over from London Gatwick and Manchester every Friday between 15th May and 9th October. EasyJet too have made the addition of a twice-weekly service from Manchester to the historic capital city of Athens starting in August.
The increase in passenger numbers to every corner of Greece will no doubt have a positive knock on effect to the rest of the tourism industry, which will be reflected in greater demand for hotels and rental accommodation. It is a glorious prospect to think of bustling streets of happy holiday makers, something some resorts can only dream of in the unfortunate economic downturn.
London based Piraeus Bank UK, specialists in foreign exchange services and Greek mortgages, are delighted for their clients, many of whom have second homes across Greece. Irini Tzortzoglou, Deputy Manager of the bank comments:
“Greece is fortunate to have been a focus on the big screen in 2008, which I believe, has further positively profiled this diverse and beautiful country. Whether it has been the Mamma Mia effect or other factors leading airlines to increase flights to Greece, Easyjet’s takeover of GB Airways routes for example, it is certainly bright news in what can only be described as a very grey time. As a bank not affected by any toxic debt, unlike most high street banks and institutions, we are remaining positive for what 2009 will bring. With more people travelling to Greece it is a good time for the launch of our competitively priced and transparent foreign exchange service.”
For more information on Piraeus Bank UK services call 0845 603 6538 or visit the website www.piraeusbank.co.uk.
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Notes to Editor:
Piraeus Bank is Greece’s fastest growing financial institution. Its international banking operations include an extensive branch network of over 540 branches in Greece, Bulgaria, Romania, Serbia, Egypt, Albania and USA, and corporate banking and specialist mortgage teams based in the City of London.
Piraeus Bank, London provides a foreign currency exchange service as well as mortgage finance for property in Greece and Bulgaria.
We offer:
§         Competitive Euro loans secured on the Greek or Bulgarian property
§         Specialist help throughout the buying process ~ in English
§         London based staff process your loan, backed by the Bank’s extensive resources in Greece and Bulgaria
§         We provide a quick decision in principle
§         Excellent foreign exchange terms on international fund transfers
(T) 0207 920 6000 or 0845 603 6538 (local rate)
Piraeus Bank S.A., London Branch, 8th Floor, Tower 42
25 Old Broad Street, London, EC2N 1HQ

Alternative Methods of Purchasing Property Abroad

by Viv United Kingdom

 

It’s no secret that the property finance landscape has changed dramatically in the last six months and that we are all suffering the knock on effects of what has been dubbed the ‘credit crunch.’ Mortgages are now far harder to come by, lending criteria and borrowing restrictions are far harsher, and anyone considering buying a property abroad to take advantage of falling prices is struggling to raise the finance they need to purchase a home or an investment property outright. 
It’s ironic that 2009 could well be the best year to buy real estate abroad thanks to the drop in asking prices of many homes across the world yet at the same time the worst year for those who need to raise a mortgage to purchase! What’s more, even those in a position to lay down cash to meet the full asking price are reluctant to do so because the pound is currently languishing in a weak position against many international currencies.
Fortunately however, the construction and property development industry is well aware of the restrictions facing potential purchasers, and the strongest, wealthiest and most influential companies are also those in the best position possible to adjust their sales methods to make buying homes abroad easier. There are now a series of tried and tested, highly flexible and well-developed alternative purchasing methods available for those who want a home or an investment property abroad. Methods such as fractional ownership, buying shares in a development or even buying hotel rooms are beginning to be explored by greater numbers of people, below we look at some opportunities available.
Fractional Ownership
Fractional ownership is also known as asset-sharing; it’s a straightforward and cost effective concept that allows the buyer to get the very most out of a property investment abroad by only purchasing the share of time that is required by them from the property. James Wyatt, Managing Partner at Barton Wyatt International explains: “Both the benefits and the costs of the property are shared between a fixed and limited number of fractional owners. These owners buy a share of a property that is probably worth far more than any property that they would want to afford as an individual. This effectively means a buyer gets a lot more for their money. What’s more, the property is managed by a professional team year round, meaning that as an owner you arrive for your fixed weeks’ occupancy and the property is clean, properly maintained, the gardens are in order and there is fresh linen on the bed. While you are not using the property you are not paying for it, yet at the same time the home remains well looked after and in a pristine state, ensuring that the underlying value of the property, and in turn your capital share, can rise in line with market conditions.
“At Amendoeira Golf Resort in Alcantarilha on the Algarve in Portugal we are marketing a fractional ownership scheme, and many buyers are opting in and beginning to benefit from this fabulous golf resort which is just 35 minutes from Faro airport. Fractional owners have all the benefits of complete access to the resort’s two excellent golf courses its clubhouse, onsite bars, cafes and restaurants, the PGA Golf Academy, tennis courts, football pitches, bowling greens, pitch & putt, swimming pools, saunas and a kids’ club. Properties available include 2 and 3 bedroom luxury apartments with access to a communal pool, 3 bedroom villas offering spectacular views, or stunning 4 and 5 bedroom villas with private swimming pools and landscaped gardens. Prices start at €450,000/ £426,294 and range to €1,800,000/ £1,705,178.”
For more information please contact Barton Wyatt on 01344 843000 or visit www.bw-international.com.
Buying Shares
For a buyer who prefers to maintain a greater level of control over their property asset and in turn a greater level of responsibility for it, a direct share ownership approach to purchasing can possibly work best. In a project such as the award winning Limpopo-Lipadi Game and Wilderness Reserve in Botswana, a shareholder who is passionate about the outstanding environmental and ecological work that the Reserve staff is undertaking and who also wants to own a unique investment abroad has the option of owning direct shares in the entire project. 
The buyer effectively benefits from having direct involvement in a project about which they are likely to be personally passionate, and they have an incredible property based investment asset in one of the world’s most exciting real estate ventures too! At Limpopo-Lipadi there are philosophies and practical guidelines in place to ensure that anyone who pays for shares in the project is not just merely providing passive financial benefit to Botswana and the native people who work within the reserve, rather the investors at Limpopo-Lipadi are encouraged to be passionate about the reserve, the wildlife and the environment too. They can receive training to become game rangers for example, they are given the freedom to create their own bush experience and they are encouraged to be fully involved in the reserve’s activities and in important decision making processes – so much so that Limpopo-Lipadi becomes not just a valuable investment asset, but a passion for every single investor! As a shareholder in the project you co-own the game and wilderness reserve which is at an exciting point in its development; you will be able to visit the reserve as often as you like, be part of the decision making process of the reserve or just simply enjoy the many diverse ecosystems when you visit. There are different levels of investment involvement that you can commit to – from a purely financial point of view, entry level investment is $195,000, but in terms of the difference that you can practically make and the benefits that you can personally witness and enjoy, they are limitless with this share purchase approach.
For more information please visit http://www.limpopo-lipadi.com or call 0871 244 5152.
SIPPs
SIPPs, or Self Invested Personal Pension funds in the UK are now allowed to invest in qualifying commercial property projects. As a result, this method of investing money in property to diversify pension funds away from the more traditional stocks and shares approach to retirement saving has attracted the interest of many British investors. 
Mark Andrew, MD of Emerging Earth comments: “to purchase an overseas property through a SIPP the property needs to be designated as a commercial entity. An apartment within a condominium hotel complex such as the luxurious Caracola Beach and Spa Resort on Isla Margarita that we are marketing therefore qualifies. The benefit of buying a property in this way, i.e., through your pension fund, is that you have tax free purchasing power. What’s more, at Caracola properties also come with an insurance bond backed guaranteed rental income of 7% for 10 years. Purchases at Caracola are also packaged to give owners relief from income and capital gains tax, and all in all Caracola provides a superb investment opportunity in an increasingly attractive emerging market.
“Any buyer will ultimately own a potentially high returning, capital appreciating, tax enhanced commercial property asset in one of the best beachfront locations in the emerging Caribbean, where onsite amenities for guests are five star and high-grade ensuring this development stands out for the long-term. Onsite facilities include multiple swimming pools, a beach activity area, spa, nightclub, fitness suite, duty free shopping zone, sauna, kids club, conference rooms, beauty salon, restaurants, bars and cafes.” Owners can earn a rental income, they can benefit from capital appreciation, they can enjoy the property themselves – and all the while the benefits are wrapped up in a SIPP to provide for a potentially handsome pension income.
For more information, please contact Emerging Earth on 0845 604 1208 or visit www.EmergingEarth.com.
Buying a Hotel Room
Another method of purchasing property abroad is buying a hotel room as opposed to an apartment, town house or villa. This novel idea is in fact incredibly rewarding when you look closer at the investment concept, and allows entry into a commercial asset that is normally only open to large corporations 
Joseph Upchurch, Managing Director of Aston Lloyd explains:
“The market was screaming for a low-entry level investment opportunity that allows buyers to enjoy the rewards of both rental income and real capital growth – this is why we are guaranteeing a 6% return in the first 12 months for those who invest in our latest hotel development, The Aston Sofia. We’re confident in our research and the returns.
The Aston Hotel Sofia allows buyers to purchase a stake in a hotel room or suite in one of the fastest up-and-coming business districts in Sofia, the capital city of Bulgaria, where major international hotel groups are currently unable to meet the intense demand for accommodation.
What’s more, the hotel addresses the lack of conferencing and business amenities in the city with a 400-capacity conference complex that will well and truly meet this demand.”
For more information call Aston Lloyd on 0845 260 0646 or visit www.astonlloyd.co.uk.
Rental Pools
Finally, for those who want to buy a strong property asset abroad largely for investment purposes, the approach of targeting a globally branded project such as the Champneys Marbella Spa Resort and placing your investment into a managed rental pool might be the ideal way to invest. Julia Norton, Sales Director of Champneys Marbella says that the rental pool scheme they offer is a very good way of ensuring maximum return on rental income for investors, whilst at the same time preserving flexibility for owners. She explains:
“The rental pool is the best way for investors to maximise income from tenants and for second home buyers to also profit from their holiday home asset. For example, if an owner occupies their apartment for 6 weeks a year leaving 323 days free, with an average daily let of €500 and a conservative 65% occupancy rate, the return on your investment can be between at least €54,437 and €65,325 per annum. Naturally this could be more for an investor who places their apartment in the pool for the entire year.
“Even with this very modest occupancy average in my example you can see that this represents a return of approximately 8% on your total investment per annum. This makes investing in Champneys Marbella and participating within the rental pool an excellent way to maximise your returns." The Champneys Marbella Spa Resort benefits from the global brand behind the project, and owners or tenants of the stunning apartments and penthouses for sale and for rent in the exclusive luxury resort can enjoy the spa with its heated indoor and outdoor pools, twenty five therapy rooms, a manicure salon, sauna and Turkish baths, a Jacuzzi terrace, a fully equipped gym and an exercise studio. There will also be a juice bar, cafe restaurant, some relaxation areas, as well as a Champneys shop, conservatory gardens, sun terraces, water features and a plaza with hanging gardens. Prices start from €696,358 for 2 bedroom apartments, €971,729 for penthouses and €1,700,000 for duplexes.
For more information contact Champneys Marbella on 01442 291200 or visit www.champneysmarbella.com.

‘Let Me Entertain You’

by Viv United Kingdom

 

Despite the fact that we are now amidst the feared recession, there still remains high-end properties on the market which are shining bright as property prospects. With a significant proportion of properties around the £1 million plus mark still selling even during the credit crunch, especially in sought-after locations, it is those with added unusual extras that are truly placing themselves ahead of the game. 
 
From the functional to the fantastic, high-end properties with added wow-factors are on the market and interest is looking hot. Quite apart from the traditional swimming pools and tennis courts of old, it is now the more unusual features that are catching the shrewd buyer’s eye – and it is the current owners selling them who are prospering. Oliver Clarke, Sales Manager of award-winning Surrey estate agency Barton Wyatt, says that for them it is those properties that offer something extra that are selling fastest,
 
“We have found that, although the credit crunch has taken hold, high end properties are still selling and we have noticed a growing trend that the properties securing buyers the quickest are those that have added extras. With people working longer and longer hours, many more are looking for a property that is both a functional home but can also fulfil some of their leisure-time pursuits.”
 
Whether it is to indulge hobbies or to enjoy home entertainment, the fashion is for added extras to make your property really stand out. If entertaining is your thing and your priority is to use your home for socialising, there are a number of additional features that could help. You may like to consider a property with a wine store, such as York Gate in Ascot on the market at £1,500,000. Here, you will never run dry for both planned and those unexpected guests! Or you may wish to buy a home with an extended kitchen, large enough to host sizeable dinner parties should you choose and 8 Pinecote Drive, Sunningdale’s 40-foot kitchen is an example of a property with just that. Not only is it of enormous proportions but everything has been thought of – with a near-industrial sized oven and fridge, a microwave that both grills and roasts and a tap through which comes instant boiling water, making a kettle obsolete. Current owner Jane Bicker recognises the benefits of having such a large kitchen that she personally helped design,
 
“I entertain a lot… I am currently arranging a party for 160 with a marquee on the terrace but with this kitchen that just isn’t a problem… It is the most incredible kitchen I have ever had.” 8 Pinecote Drive is on the market for £1,550,000.
 
However, if entertaining isn’t for you and you are more keen on exercise and active pursuits – as a stress reliever, to improve your fitness or simply just to stay healthy – then perhaps a property with added fitness features is more for you. With expensive gyms, warm with the perfume of perspiration often a real turn-off, why not invest in a property with an at-home gymnasium. With the ability to select equipment that will best suit your needs but also the chance to choose a property with a room most suitable for exercise, a home with a good aspect is a firm choice. Barton Wyatt has a property on Gerrards Cross’ exclusive Top Park Estate for sale that perfectly fits the bill. Not only is the property set within large attractive gardens, but it backs onto the 300 acre Bulstrode Park to the rear and the top floor gym with wall mirrors takes full advantage of the stunning views. The property is available at £3,795,000.
 
If the great outdoors is more of a draw when it comes to exercising, Rutherwyck House can truly indulge your dreams of riding off into the sunset on a trusty steed. The property, located in Lyne and on the market for £1,395,000, boasts loose box stables with a hayloft above – and with the ability to convert the block into a habitable dwelling (subject to planning permission), this feature certainly adds extra value to the five bedroom house.
 
The added extras that a property offers can however be more subtle and according to Forbes’ latest report on ‘How the luxury consumer will spend in 2009’ the trend is more about ‘discerning consumption’, with consumers more aware of “craftsmanship than ever before, with the ability to discern between the cheap and not-so-cheap, looking for quality materials, handwork and on-trend styling”.
 
With the move therefore towards a more distinct choice, the added extras one looks for in a property are becoming more subtle – for example technology within the home that makes the owner’s life easier and more comfortable. Copperings House on the famous Wentworth Estate (£3,250,000), for example, not only reputably has a £100,000 Mowlem kitchen by specialist designers, but also has an inbuilt entertainment system that includes wiring by ‘High-End’ for in-house sound and a television in the kitchen that emerges from the wall via a remote control and angles towards the breakfast bar so that cornflakes can be eaten with morning television for easy company.
 
Taking the appeal of technology in the home further still, cinema rooms are becoming more and more popular, with a dedicated space to watch the latest blockbusters and avant garde cinematic classics. Falling just below the million pound mark at £995,000 but with impressive features that would suit even the most discerning buyer, Barton Wyatt has a property in St Ann’s Park, Virginia Water that not only has access to more traditional shared facilities of a swimming pool, hot tub and tennis court but also has a fifth bedroom on the top floor set up as a cinema room, complete with waterbed and projector and screen included in the sale – adding a whole new dimension to the unusual!
 
With such an array of exciting and unusual properties available, now is perhaps the time to act on Forbes’ notions and to be more discerning about what it is you want from your property, as Oliver Clarke concludes,
 
“With the credit crunch biting and negative feeling abounding, there is a sense in the market that now is an opportunity to choose a property that really does go that extra mile and offers something on top of what you would normally expect from a house. I think people are beginning to realise that it is these added touches that can really make the house of your dreams the home of your dreams.”
 
To find out more about these and other prestige properties in the Surrey / Berkshire regions, contact Barton Wyatt on 01344 843000 or visit www.bartonwyatt.co.uk.

Greece voted second most popular European destination in national poll

by Viv Greece

 ‘The isles of Greece… Eternal summer gilds them yet’ – Lord Byron

Amidst the global financial crisis and the multitude of headlines foretelling doom and gloom for the property market, one destination still seems to be riding high amidst all the negativity. The Telegraph Travel Awards 2008 and their poll of over 25,000 readers have placed Greece in second place in their Best European Country ranking – only falling short to the ever-popular Italy – and in turn staking its claim as a growing destination of choice amongst the British.
Greece’s ranking ahead of the golfing paradise of Portugal and the traditional British holiday destination of Spain is a sign that the injection of €40 million by the country’s Ministry of Tourism in 2008 is bearing fruit – with recent figures released by the National Statistical Service of Greece also showing that turnover in the tourism sector has increased by 2.7% in Q2 2008 compared to the same period in the previous year, suggesting that this investment is paying dividends.
In terms of the numbers visiting these Mediterranean shores, most recent figures are also positive, showing that during January to September 2007 arrivals in Greece by UK tourists grew by 6.4% compared to the same period in 2006, according to the Greece Tourism Report Q3 2008. And it is not only investment in the tourism industry that is increasing interest in Greece. Following the summer 2008 hit film ‘Mamma Mia’, inspired by the songs of ABBA and starring A-listers Pierce Brosnan, Meryl Streep, Colin Firth and Julie Walters, Greece has firmly earned its place in the spotlight, with the world’s leading online hotel booking site Hotels.com claiming that online searches for the country on their site have increased by some 70% since the box-office smash.
With such positive growth in the tourism sector, it is easy to see why Greece is held in such fond regard by foreign visitors – with halcyon blue seas, warm and welcoming locals and historical settings second to none. Nick Edwards, co-author of ‘The Rough Guide to Greece’, agrees,
“It´s easy for people to combine cultural sightseeing with lazing around in the sun and water sports” and this of course makes for a good holiday. It is not however, simply the holiday sector that is set to reap the rewards of Greece’s recent positive results, the property market is also set to blossom.
According to Forbes.com Greece is said to be predicting a 2.7% growth in its economy in 2009, a positive figure given the context of the worldwide ‘credit crunch’ and one that will surely be inviting for those looking to buy a home abroad either for personal holidays or as an investment purchase. This is sure to also be encouraged with new flight routes to the country and its islands opening during 2009 by budget airlines looking to cash in on Greece’s increased popularity – for example Jet2’s new Manchester to Crete service launching in May next year.
Irini Tzortzoglou, Deputy Branch Manager of Piraeus Bank UK, who offer mortgages on Greek properties, recognises the potential of 2009 for the Greek property industry,
“It is true that we cannot bury our heads in the sand when it comes to the global financial crisis, however it is important to look at the bigger picture and to recognise that different economies are set to fair differently during this time. Greece, for example, is one destination that is currently riding on a wave of popularity following a good year in 2008 and these positive results should see it through 2009 more securely than many European countries. As a second home destination, Greece has a great deal of potential and is still relatively undiscovered meaning that the ‘true Greek lifestyle’ is still very achievable, and 2009 looks like a good year to discover it.”
Only the dawning of 2009 will truly unveil what the future has in store for Greece but until then the future looks bright.

For more information on Piraeus Bank UK mortgage products and services call 0845 603 6538 or visit the website www.piraeusbank.co.uk.

Mixed picture for high end property in 2009 says Surrey´s Best Estate Agent

by Viv United Kingdom

 

In an economic downturn it is easy to assume the housing market will suffer across the board, across the country. However, despite the doom laden predictions the picture is more mixed when it comes to the more expensive properties on sale, especially on a local level. In 2009 this is expected to be the case in the south east with many top professionals currently residing in central London moving to large yet well priced luxury homes in the Surrey suburbs. The financial slowdown will also fail to deter members of the international business community, such as those in the booming energy industries, as many will be cash purchasers not requiring finance.
 
That is the message from Virginia Water based estate agency, Barton Wyatt, who, as an established family business in the Surrey area for decades, have experience in both the boom times and the downturns. The company, named the Best Estate Agency in Surrey in the last three Daily Mail Property Awards, feel the higher-end local market will buck some of the trend, largely thanks to the type of people likely to move into this prime commuter belt at times like these.
 
Affluent suburbs such as Virginia Water, Cobham and Weybridge can still expect new residents in the area’s top end residential properties, priced around £2 million or more. Compared to Central London costs, housing per square foot can be up to 90% cheaper; in addition, house prices in the capital have declined less than the rest of England on average. These reasons, together with the increased garden and living space on offer, will encourage many top professionals to consider the benefits of a Home Counties move. With City professions feeling comparative restraints not seen for years, the financial and lifestyle arguments in favour of a move will continue to reassert themselves during 2009.
 
Although many potential buyers in the UK are hesitant to commit to a purchase, those from the international business class will continue to consider expensive property purchases. Those who derive their wealth from essential commodities like oil, gas and minerals are expected to remain interested irrespective of the directions in house prices domestically. As seen with the sale of luxury cars, Russian and Middle Eastern petro-dollar buyers are still prepared to make certain purchases. Such business helps to slow price falls in the top Surrey suburbs, with Virginia Water retaining the highest average house prices in the country bar London according to national press surveys.
 
As the number of property purchases nationally declines with buyers increasingly waiting and seeing how the market will fair, it is no surprise that rental markets have held in the large part. When it comes to the commuter belt properties of Virginia Water, although some effects of the credit crunch may start to be felt, lettings from those in the corporate world are predicted to hold up.
 
James Wyatt, Senior Partner of Barton Wyatt comments:
 
“Although property acquisition at the lower end is expected to suffer from falls in confidence and lower lending, the higher end market will at least retain some buoyancy. With traditionally high prices, the Virginia Water area has proved itself to be the ideal place for corporate and international businessmen, and it is unlikely their spending habits will be altered completely as a result of the economic downturn. Although many effects of the current climate will be noticeable during 2009 I don’t think there will be a complete collapse in the housing market as many predict.”
 
An example of a property currently on the market is:
 
Arundel, Callow Hill, Virginia Water, £3,800,000
 
A superb brand new home recently completed to a high specification with well proportioned accommodation across three floors amounting to approximately 9,000 square feet in all, Arundel is situated behind electric gates just half a mile from the picturesque shopping parades of Virginia Water Village, Surrey.
 
Arundel boasts a master bedroom suite with his and hers bathrooms, dressing rooms and access to the first floor balcony; six further bedrooms, six bathrooms, sitting room, dining room, family room, study, kitchen/breakfast room and utility room. The property also has a one-bedroom staff flat and a three car garage.
 
Other features include under-floor heating on all levels, programmable mood lighting, pre-wiring for Linn multi room audio system, BPT gate entry system with video monitor panels inside the house, NACOS approved alarm system, Miele appliances in the kitchen, Villeroy & Boch, Duravit, Laufen and Hans Grohe bathroom fittings and Anderson windows and doors with multi point security locking.
 
Set in beautifully landscaped south-facing gardens, of approximately one acre, the property is priced at £3,800,000.
 

For further information please contact Barton Wyatt on 01344 843000 or visit www.bartonwyatt.co.uk.

Focus on Festive Fireplaces

by Viv United Kingdom

 

Fireplaces have a particularly festive connotation in Great Britain, therefore it’s perhaps timely that according to a recent survey by the Guardian newspaper, as we rapidly approach the Christmas season, increasing numbers of Britons are turning back to the traditional hearth to warm their homes. An open fire is a welcome feature in any home, it banishes the traditional winter blues, creates a focal point and is comforting and cheering at a time of the year when the nights are drawing in and temperatures are dropping.
Even though one might think that the resurgence of the open fire is a relatively recent fashion trend, it’s worth bearing in mind that fire has provided warmth and safety and a means by which one can cook for over 125,000 years. According to evolutionary psychologist Dr Lance Workman: "… fire has played an important role in human evolution and that this is why we still find it rewarding today. We don´t simply ´un-evolve´ such reward systems just because we live in centrally heated houses today." 
His theory is certainly supported by evidence from the Solid Fuel Association that shows that there has been a 40% increase in demand for fuel for open fires this year. It is also backed up by the National Association of Chimney Sweeps which has seen a resurgence in demand for their member’s services, and by the largest chimney and flue manufacturer in the UK who has reported a 50% increase in business in the last year.
It seems that we’re all going fireplace crazy – perhaps in a bid to stave off the winter blues, or perhaps to try and combat rising inflation and to find a way around traditional heating bills which are always higher at this time of the year. Whatever the reason, it’s a welcome return to the open fire for many in the UK, because everyone knows that a roaring, real and open fire doesn’t just heat up the air around it, it warms the feelings of those entering the room where it’s burning, and it makes a house feel like a cosy and welcoming home.
According to Oliver Clarke, Sales Manager at Barton Wyatt who are experts in selling some of the most luxurious and well-appointed homes in the south east: “in recent decades many properties had their fireplaces and chimneys ripped out. This was both in a bid to provide more space and also because such forms of heating became redundant thanks to central heating systems. However, we have seen a direct rise in the numbers of luxury properties being built or renovated which now incorporate a fireplace in at least the main living rooms. A fireplace and an open fire in the home are associated with wealth and prosperity – they are a positive attribute for any property.”
Of course, as mentioned the fireplace also has a particularly special place in the home at Christmas. Traditionally, letters to Father Christmas are burned on an open fire allowing Father Christmas to read a child’s wishes in the smoke. Then, in the lead up to Christmas day a hearth and mantelpiece are often decorated before stockings are hung from the mantelshelf on Christmas Eve ready for Santa’s descent down the chimney. On Christmas morning the family often gathers around the fire for the opening of presents; and of course, throughout the Christmas period when it’s traditional to visit friends and family, an open fire in any home makes a welcome that much warmer.
If you have an open fire in your home and you want to prepare it for the festive season, fire crews and the National Association of Chimney Sweeps have issued a reminder to people to observe fire safety rules. The rules include having your chimney swept regularly, keeping an open fire guarded from children and animals, never leaving a fire unattended, and ensuring that it is fully extinguished before you go to bed.

Should you require inspiration for your own home, or indeed be on the lookout for a fabulous property, Barton Wyatt has some fine examples of homes for sale with stunning fireplace features. For example, Brook Farm near Ascot is a £3.5 million property with fireplaces in all the main living rooms, and some of the multi million pound homes for sale on the Wentworth Estate close to Virginia Water have been constructed or renovated with the inclusion of impressive fireplaces and hearths in the hallway, dining room and living areas as well for example. For more information about these incredible homes and other properties with festive fireplaces contact Barton Wyatt on 01344 843000 or visit www.bartonwyatt.co.uk.  

What are banks doing to help customers in the current economic climate?

by Viv Greece

There are statistics to prove it, however, we don’t need a show of figures to convince us that consumer confidence in the banking system and economy is currently at rock bottom. Nationwide have recently reported a pathetically positive 8% rise in their consumer confidence index lifting it from a record low of 51 to 55 and this last week also sees the interest rate fall an astounding 1.5%, a sure move to try to re-establish our desire to ‘spend’ by the Government and Bank of England. 

But we ask what are banks doing to actively help their customers in the current market conditions? Irini Tzortzoglou, Deputy Manager of Piraeus Bank UK (PBUK), who offer overseas mortgages (Bulgaria and Greece) and deposit account facilities, comments, “One of the effects of the recent world-wide crisis has been the education of consumers and we have all come to understand a bit more about how and where banks find the money they then lend to their customers. It is clear that despite the drop in base rates, it will take sometime and possibly another intervention from central banks before we see a significant drop in inter-bank lending rates and increased lending facilities. Until these changes take place, we have found that listening to customers and trying to accommodate their personal circumstances wherever possible is easier, faster and cheaper while gaining loyalty in our customers and job satisfaction in our staff.”
Despite being stringent with their underwriting criteria, meaning that they have reduced how much and who they lend to, PBUK’s steady and conservative approach has helped them maintain their secure financial position today, even being able to expand their business through bank acquisitions. Alistair Riddle, Credit Manager for PBUK adds, “If we stopped people going into debt they could not really afford to repay, I am personally very glad and we now find that the customers have more confidence and respect for us because of this.  Having said that, there is of course a number of customers who qualified for loans which we were very happy to make but who now struggle a little or simply feel insecure about.  In these instances we try to help as much as we can.”
“Where customers such as Andrew Banks, who have kept an impeccable payment record with the bank contacted us, we in appreciation, were more than happy to assist,” continues Alistair.
Andrew Banks: “Although my personal circumstances have not changed dramatically since I took out my loan, having lower monthly installments on my overseas mortgages is making a difference to my confidence levels for the next couple of years.  I am very pleased with the positive response I got from Piraeus Bank UK”.
Another customer of the Bank, G.P. a Financial Advisor from Bristol, says:
“The one year interest-only period of my otherwise repayment mortgage was coming to an end.  Because my age does not permit a long term mortgage, the monthly instalments of capital and interest would mean €975 more which would be difficult for me to find in the current economic climate.  I contacted Piraeus Bank to ask to continue to pay only interest while I might find it difficult to source a few hundred Euros more per month.  I am very happy and grateful to Piraeus Bank for agreeing to this so I can now take my time to consider my options.”
Alistair Riddle advises, “Requests to change the terms of existing mortgages never fall on deaf ears at our Bank. We do look to be accommodating where possible, but we must ensure that the fundamentals of repayment capacity and sticking within our overall product parameters remain in place. Where, due to a change in circumstances, a customer can no longer meet the existing repayment obligations, we look in depth for possible solutions. It should be noted that there are instances where the sale of a property is the most beneficial solution for the customer. In these cases the Bank would far rather work with the customer than against and we are extremely proud that PBUK has not made a single Repossession Application to the Law Courts with regards to our Bulgarian and Greek mortgage customers.”
So why is PBUK willing to buck the trend and work with its customers? In a nutshell, PBUK uses traditional banking values such as making sure that from the outset the customer really can afford the proposed mortgage via a robust underwriting process by humans not machines while understanding and believing in the markets it operates in while using plain common-sense in its approach to business and customers alike.

Barton Wyatt triumphs in prestigious Daily Mail UK Property Awards

by Viv United Kingdom

 

Barton Wyatt, premier estate agents based in Virginia Water, Surrey, have been voted ‘Best Estate Agency Surrey’ and ‘Best Estate Agency Website’ in the Daily Mail UK Property Awards 2008. These prestigious awards were presented at a gala dinner on 31st October at The Royal Lancaster Hotel, London and were attended by the crème of the property industry.
 
The Daily Mail UK Property Awards – described as an event for ‘recognising the excellence in its field’ – bestow winners with national recognition for their hard work and excellent level of service. Barton Wyatt’s managing partner James Wyatt explains that as a family business they are proud to have received such a high accolade,
 
“To be winners of the Daily Mail UK Property Awards for three years running is fantastic news. Barton Wyatt was founded by my grandfather in 1927 and winning these awards is a tribute to all the hard work not just of the Wyatt family but also of our excellent team of property professionals who go the extra mile to truly make us the best estate agency in Surrey. Barton Wyatt is founded on principles of professionalism and service and a strong business ethos that really makes us stand out from the competition and being given this accolade is real recognition of this.”
 
In also being awarded ‘Best Estate Agency Website’, James Wyatt goes on to explain why this is so important for them,
 
“Although long-established in the local area, as a forward-thinking company Barton Wyatt are very aware of the importance of our website both as a marketing tool and as an information portal for potential buyers. Receiving the Daily Mail UK Property Award for ‘Best Estate Agency Website’ proves to us that our website is doing the job we expect of it – to appeal to buyers and to make their search for the ideal property easier and hassle-free.”
 
Barton Wyatt sell prestige properties in the Surrey / Berkshire regions, covering areas that include the Wentworth Estate, Virginia Water, Sunningdale, Ascot and Englefield Green. To learn more about the homes that Barton Wyatt are offering for sale, contact Barton Wyatt on 01344 843000 or visit www.bartonwyatt.co.uk.