Shun the single supplement – holiday homes for singletons

Shun the single supplement – holiday homes for singletons

by Charly Portugal Spain Turkey World , , , ,
  • 51% of England & Wales is now single (ONS)
  • 24% of overseas travel is by solo tourists (Visa)
  • Perfect holiday homes for singletons available from €75k (Ideal Homes International)

In 2015 the Office for National Statistics released figures that showed that 51% of the population in England and Wales is single. The demography of these nations has shifted significantly over the past decade and companies and services are racing to keep up with the new shape of modern society. So why are single person supplements of between 10% and 100% of the standard accommodation rate still so widely used by the travel industry?

“It’s not a system that meets the needs of today’s travellers,” comments Martin Dell, Director of Spanish property portal Kyero.com. “In both the rental and the sales sides of our business we’ve seen the impact of the growth in single travellers. The industry needs to catch up or risk missing out on a key emerging market.”

The 2015 Visa Global Travel Intentions Study found that 24% of people travelled alone on their most recent foreign holiday. It’s a rapidly growing sector. Indeed, some singletons are already taking matters into their own hands and shunning hotels and their single supplements in favour of second homes of their own overseas.

Chris White, Founding Director of Ideal Homes International, explains,

“Property prices in destinations like Portugal are so affordable right now that it’s perfectly possible to pick up a holiday home on a single income. Second homes are definitely no longer just the preserve of wealthy couples entering their retirement years.”

In Portugal, a beautifully refurbished townhouse in the heart of the historic town of Silves can be bought for just €75,000. Single buyers with a bit more cash to spend have a vast range of options available to them. One upscale five-star resort and spa complex in the popular Algarve town of Carvoeiro is offering one bedroom apartments with lush outdoor gardens from €260,000.

Singletons looking to travel a little further afield are discovering the delights of beach resorts around the globe. Over in Istanbul, the prime seaside district of Beylikduzu, Gurpinar is home to the beautifully designed Rose Residence, available through Universal21. With shops and restaurants on the doorstep, the beach just a few minutes away (top floor apartments enjoy fabulous sea views) and pool and health club facilities on site, the apartments are perfect for active solo travellers looking for a base in this bustling city.

Of course, it’s not just young singletons who are travelling overseas on their own these days. An increasing number of older travellers – both married and single – are choosing to holiday solo as a means of escaping the noise of modern life for a short while. Golf resorts can be a popular choice for this demographic, particularly when you consider what you can get for your money in sun-kissed destinations like Spain.

Leading homebuilder Taylor Wimpey España offers a range of apartments and townhouses in popular Spanish locations. At Brisas de Alenda Golf, near Elche on the Costa Blanca, a three bedroom townhouse costs just €145,000. The private, tranquil development offers high spec homes, excellent golfing facilities, private gardens, a swimming pool and access to the Alenda Golf complex’s small supermarket, restaurant, bar, clubhouse centre and paddle tennis courts. It’s an ideal location for solo travellers looking for peace and relaxation, all within an easy flight from the UK.

The trend for solo travel looks set to continue growing, at least for the foreseeable future, and with such a range of affordable holiday homes available to single buyers across Europe, it is reasonable to expect that overseas estates agents will increasingly be looking to capture the attention of this rapidly emerging market.

For more information please contact:

Kyero.com: www.kyero.com

Ideal Homes: 0800 133 7644, +351 289 513 434, www.idealhomesinternational.co.uk or www.idealhomesportugal.com

Universal21: 0203 287 8700 or visit www.universal21.com

Taylor Wimpey España: +44 08000 121 020 or www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.

The sunshine safe haven – why UK buyers can’t get enough of Portuguese property

The sunshine safe haven – why UK buyers can’t get enough of Portuguese property

by Charly Portugal
  • Safety and security is no. 1 priority for UK holiday makers this year (TravelZoo)
  • Steady Portuguese housing market sees 2.5% price rise projection for 2016 (RICS/Ci)
  • The Algarve is Europe’s cheapest beach resort (Post Office)
  • Portugal offers wholesome family fun at low cost (Ideal Homes Portugal)

The tragic events in the resorts of Tunisia and Egypt over the past year have rocked the foundations of holidaymakers around the world, so much so that UK travellers now consider safety and security to be the most important factor when it comes to booking their holiday destination. The changing shape of holidays has been revealed by a survey from TravelZoo, where 30% of respondents rated this as their number one priority.

One of Europe’s safest and most popular summer holiday destinations is Portugal, as resident Chris White, Founding Director of Ideal Homes Portugal, explains,

“Portugal offers a real safe haven for UK holidaymakers. The country lacks the political tensions that exist between many nations and instead offers a wholesome, family environment that is perfect for those looking for sunshine, beaches, water parks and a great Mediterranean diet.”

Portugal is one of the destinations flagged up by TravelZoo as enjoying a rise in bookings as holidaymakers’ priorities shift. Of course, finances are still a big consideration for many families when it comes to holiday destinations, which is another of Portugal’s advantages – it is one of the best value destinations in Europe. In fact, the Algarve is Europe’s cheapest beach resort, according to the Post Office Worldwide Holiday Costs Barometer 2015, and the second best value destination globally.

One item that offers excellent value for money in Portugal is property. From a two bedroom apartment with sea views in Albufeira for €110,000 to a stunning three bedroom country retreat complete with swimming pool and grounds including two lakes for €650,000, the sun-kissed country offers bargains to suit every budget.

The stability of Portugal’s housing market offers further reassurance to holiday home buyers looking for a safe haven in the sunshine. The January 2016 Portuguese Housing Market Survey from RICS/Ci observes that price expectations point to steady gains over the course of 2016, with house price inflation expected to be around 2.5% in both Lisbon and the Algarve.

Portugal’s proximity to the UK is another important factor when it comes to those booking holidays or looking for a second home in a safe haven overseas. Frank Brehany of HolidayTravelWatch observes,

“Given the awful events in 2015, it is no surprise to me that UK holidaymakers will want to experience less of the exotic and more of the familiar, feeling more secure if they holiday closer to home; it’s a natural consequence of last year.”

With Portugal ticking so many boxes – safe, sunny, fabulous beaches, stunning golf courses, low cost of living and just a short flight from the UK – it’s easy to see why many holidaymakers this year will be sunning themselves on the beaches of the Algarve, rather than heading further afield.

For further details call Ideal Homes Portugal on 0800 133 7644 or +351 289 513 434, email enquiries@idealhomesportugal.com or visit www.idealhomesportugal.com

London versus the world! What can you get abroad for the price of an average property in the capital?

London versus the world! What can you get abroad for the price of an average property in the capital?

by Charly Portugal Spain United States , , ,
  • Average London house price is £514,097 (Gov.uk)
  • This is enough for 3 detached villas with pools in Spain, with €80k change (Kyero.com)
  • Or 2 5-bedroom resort homes with pools in Florida (Ideal Homes International)
  • Cliff-top townhouses with infinity pool in Mallorca also an option (Taylor Wimpey España)

According to the UK government’s December 2015 House Price Index, the average property in London now costs £514,097. Based on a quick Rightmove search, £514,097 is enough to purchase a new build one bedroom flat in Newham, a two bedroom flat in a converted house in Acton or a four bedroom mid-terrace house in Tottenham in need of some serious modernisation.

But what could you get for the same money overseas? £514,097 is worth just over €656,151, or USD $743,053, at today’s exchange rate, which opens up a wealth of property options to those looking to buy on the continent or even further afield.

Chris White, Founding Director of Ideal Homes International, explains,

“There are some fantastic bargains to be had when it comes to overseas property at the moment. Portugal and Spain are offering incredible value for money and are just a short hop on a plane from the UK, making them ideal locations for second homes or investment properties that you want to keep a close eye on. For fans of the US, Florida is also offering some serious bargains and is a perennially popular destination thanks to its winning combination of sun, sea and theme parks.”

In Portugal, €650,000 is enough for a four/five bedroom villa in the hills at Soalheira, 10 minutes from the beaches and golf courses of Vilamoura and just two minutes from the town of Loulé. The villa comes complete with swimming pool, Jacuzzi, sauna, pergola sunbathing area, pool house and gardener’s bathroom, two double garages, ocean views, grill house with sink, fridge and BBQ, cinema room, wood burning fire and under-floor heating in the two bathrooms. A far cry from a run-down terraced house in Tottenham!

For beach bunnies, the Spanish island of Mallorca is the ideal location. There, €625,000 will buy a premium frontline townhouse with incredible sea views, close to the golf courses and marina of Porto Cristo. There are just seven spacious three bedroom townhouses on the Cala Magrana Mar development, from leading Spanish homebuilder Taylor Wimpey España, which also benefits from a communal infinity pool and sunbathing area, designer fixtures and fittings and the latest security features.

Another option for those with €650,000 to spend is to invest in more than one property, which is easily achievable for this budget in both Portugal and Spain. Martin Dell, Director of Spanish property portal Kyero.com, comments,

“It’s staggering what you can get in Spain for the price of an average London property. Those looking for rental investments can pick up a whole string of properties in idyllic coastal locations for that kind of money.”

In the pretty seaside town of Javea, for example, detached villas with pools can be bought off plan for £189,800, with scope for the buyer to personalise the layout, with the build completed within 5-7 months. Instead of a one bedroom flat in E16, a buyer could pick up three of these villas and still have €80,000 left in his pocket.

Over in America, a buyer can easily pick up two five bedroom villas with pools in the hugely popular Kissimmee area of Florida for $743,053, the equivalent price of the average London home. Resort homes with screened in pool and spas in gated communities just a few miles from Walt Disney World are available for between $350,000 and $450,000. Certainly food for thought for all those thinking about buying a home in London at the moment!

For more information please contact:

Ideal Homes: 0800 133 7644, +351 289 513 434, www.idealhomesinternational.co.uk or www.idealhomesportugal.com

Taylor Wimpey España: +44 08000 121 020 or www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.

Kyero.com: www.kyero.com

Europe’s hottest property investment opportunities

Europe’s hottest property investment opportunities

by Charly Portugal Spain
  • Head to Spain and Portugal for Europe’s best investment opportunities (Ideal Homes International)
  • Spanish property market undervalued by 26% (OED)
  • Lisbon visitor numbers up 42% since 2011 (MasterCard Global Destination Index)
  • Resale properties account for 76% of Spanish sales (Ideal Homes International)

“Spain and Portugal are ripe for property investment this year. Iberia is definitely the place to be looking right now.”

So speaks Chris White, Founding Director of Ideal Homes International, when asked about his recommendations for places to invest in property within Europe. He continues,

“2016 is a tale of capital cities and beaches when it comes to property investment. In Portugal it’s Lisbon that is offering some of the most enticing opportunities, while in Spain the sun-kissed Costas are definitely the places to find the ideal investment property.”

Portugal’s Lisbon was highlighted recently as one of the highest ranked cities in Europe for property investment, with PwC and the Urban Land Institute’s Emerging Trends in Real Estate report awarding it seventh place overall. The city is know for its rich history, fabulous architecture and late-night party scene. It is a major tourist destination, attracting some 3.5 million visitors per year. In fact, the MasterCard Global Destination Index revealed that Lisbon has the fourth highest growth rate for foreign visitors in Europe. Since 2011, the city’s visitor numbers have risen by 42%.

Lisbon offers vast choice when it comes to property investment. Buyers can choose from stunning contemporary apartments in the heart of the city to luxury condominium townhouses with pools, tennis courts and a host of other facilities.

Meanwhile over in Spain it is all about the Costas when it comes to property investment. The Costa Blanca is awash with high quality properties at great prices, including beachfront apartments that are ripe for investment. Over on the Costa Cálida buyers can choose anything from spacious villas to off-plan townhouses.

Spain and Portugal’s position as top investment destinations is lent further weight by the findings of the Organisation for Economic Development, which has examined property markets around the world to find those that are the most overvalued and the most undervalued. Southern Europe, including Portugal and Spain, was found to have some of the lowest price property. Spain’s property market was noted as being undervalued by 26%, Portugal’s as by just over 7%.

According to Ideal Homes International, it is resale properties that British buyers are most interested in in Spain right now. Resale properties account for 76% of sales, compared with just 24% for new builds. While new build developments remain popular with buyers from Scandinavia and Belgium, many Brits are looking for resale townhouses and apartments that they can invest in as a nest egg for their golden years, as well as for properties that can earn them income as holiday lets.

“There are some serious bargains to be had in Iberia at the moment,” concludes Ideal Homes International’s Chris White. “Portugal and Spain offer a wealth of great opportunities for buyers looking for investment properties, as both enjoy thriving tourist markets, meaning there is good scope for profiting from a rental property. Of course, both countries are also fantastic places to visit, so there are lifestyle benefits as well as potential financial benefits to be had from owning a second home in them.”

For further details call Ideal Homes International on 0800 133 7644 or +351 289 513 434, email info@idealhomesinternational.co.uk or visit www.idealhomesinternational.co.uk.

A picture is worth a thousand words – why great photography is essential in selling overseas property

A picture is worth a thousand words – why great photography is essential in selling overseas property

by Charly Portugal Spain World , , ,

The concept of a single image being able to portray a situation or an idea more evocatively than whole paragraphs of text is not a new one. In fact, the old adage that ‘a picture is worth a thousand words’ dates back to the early 1900s. However, it remains just as relevant today as it was when the expression was coined.

This is particularly true when it comes to selling overseas property. The majority of potential buyers will use the internet to begin the search for their dream home overseas and in a marketplace crowded with information the perfect image can stand out like a beacon, calling to a buyer to find out more. In the same way, a poorly staged image can cause a property to be passed over with little more than half a glance.

“Good photographs are absolutely essential when it comes to selling overseas property,” observes Marc Pritchard, Sales and Marketing Director for leading Spanish homebuilder Taylor Wimpey España. “You need a photographer who can highlight the property’s features, both inside and out. If you build high quality developments, the images need to reflect that quality. Otherwise so much of your hard work is undone. Quite simply, poor imagery can result in fewer sales.”

For Taylor Wimpey España’s La Vila Paradis apartments on Spain’s Costa Blanca, the photographer needed to capture the light and space that flows through the apartments, as well as the sizeable swimming pool, golf views and sparkling sea in the background. The result was an excellent set of shots that truly represented the luxurious feel of the property.

So what makes a good image when it comes to overseas property? Martin Dell, Director of Spanish property portal Kyero.com, should certainly know. His company lists more than 200,000 homes from 3,000 estate agents. He comments,

“When it comes to property photography I think I’ve seen everything, from the very worst to the very best! Good images can certainly help a property to generate more interest and sell faster, particularly on a portal like Kyero, where buyers are scrolling through lists of potential homes – it will be the one that looks instantly appealing that is likely to capture their interest first.

“The same is true of rental properties, which we also list on Kyero. Those that have the best pictures are usually the ones that are snapped up first. If a landlord has dressed the property nicely – that is, if it’s clean, tidy and well presented – then a few great photos will really bring it to life in the eyes of those viewing it online. They’ll be able to imagine themselves there, which is precisely the point.”

Chris White, Founding Director of boutique real estate agency Ideal Homes Portugal, concurs.

“It’s all about selling the lifestyle associated with the property through the imagery,” he explains. “Many buyers seek to find at least a handful of properties they like before going to the expense of travelling overseas for a closer inspection. A property that shows its potential and that they can picture themselves in, will be one that sparks buyers’ imagination.”

Chris cites the stunning apartments in Salgados as an example. The private resort enjoys proximity to both beach and golf, with spacious apartments and wide terraces designed around enjoying the outdoor pursuits that the Algarve has to offer. Seven swimming pools and extensive grounds make the resort ideal for families, with an emphasis on health and happiness, which is precisely what the artfully staged photographs convey.

Selling property overseas is about more than selling houses – it’s about promoting a dream lifestyle that individuals can buy into. And for that kind of venture only the very best photography will suffice.

For more information please contact:

Taylor Wimpey España: +44 08000 121 020 or www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.

Kyero.com: www.kyero.com

Ideal Homes: 0800 133 7644, +351 289 513 434, www.idealhomesinternational.co.uk or www.idealhomesportugal.com

Portugal’s world-beating golf courses keep the country’s property market at the top of the table

Portugal’s world-beating golf courses keep the country’s property market at the top of the table

by Charly Portugal
  • Portugal crowned World’s Best Golf Destination (Wold Golf Awards)
  • Golf tourism bookings increased for 80% of operators during 2014 (KPMG)
  • Golf tourism driving luxury property sales in Portugal (Ideal Homes Portugal)

Portugal’s Algarve is blessed not only with stunning beaches and almost year-round sunshine, but also with some of the world’s leading golf courses. In fact, the World Golf Awards Gala Ceremony in late 2015 crowned Portugal the World’s Best Golf Destination for the second year running.

Held over three days, the prestigious ceremony allowed guests to enjoy use of Portugal’s Quinta do Lago golf resort. Known for its stunning courses and immaculate golfing villas, such as this stylish five bed contemporary property with its own pool, Quinta do Lago also benefits from an excellent array of glamorous bars and restaurants and high end boutique stores, as well as a lush natural environment.

Former Dragon’s Den star and keen golfer Duncan Bannatyne is one of those who have opted to take their love of the game seriously by purchasing a golf property in Portugal. Last year he purchased an idyllic five bedroom villa with pool and sea views in the upscale golfing haven of Vale do Lobo. The resort’s proximity to Faro airport, its relaxing atmosphere and the nearby pristine sandy beaches were all influential factors in Bannatyne’s choice of property, as well as Vale do Lobo’s award-winning golf course.

His associate Chris White, Founding Director of Ideal Homes Portugal, comments on the resorts’ enduring popularity,

“Quinta do Lago and Vale do Lobo epitomise the natural beauty and the challenging nature of Portugal’s many excellent golf courses. It’s one of the country’s most well-known resorts and is a huge draw for golf tourists from around the world. Naturally, property at Quinta do Lago is highly sought after, but there are some fabulous options spread out across the Algarve for those who love the fairways. São Lourenço near Almancil is one of my personal favourites.”

A four bedroom villa with swimming pool and 9,000m2 of private grounds in São Lourenço, enjoying views over Laranjal golf course, can be bought for €1,995,000.

Portugal is certainly not alone in benefitting from a rise in golf tourism. According to KPMG’s report on Golf Tourism Growth Trends, 80% of golf tour operators experienced an increase in bookings during 2014. The report highlights the popularity of Portugal and Spain for golf tourism, as well as mentioning the ongoing prominence of well established destinations like the US.

Ideal Homes Portugal’s Chris White comments,

“The impact of golf tourism on Portugal’s property market is not to be underestimated. We saw a significant growth in demand for golf properties during 2015, with buyers seeking out luxurious residences that are perfectly placed to allow them to enjoy their golfing holidays to the full.

“Nor is it just Portugal that is enjoying this trend – our sister company Ideal Homes International has experienced strong interest from golfers in properties in Spain and Florida over the past 12 months.”

With the pound continuing to hold strong against the euro, both Portugal and Spain offer excellent value for money for holiday home buyers. The booming golf tourism sector is on track to continue driving forward the property market in both countries, as overseas buyers flock to pick up the perfect golf property while the exchange rate means they can get significantly more for their money.

For further details call Ideal Homes Portugal on 0800 133 7644 or +351 289 513 434, email enquiries@idealhomesportugal.com or visit www.idealhomesportugal.com.

16 top tips on buying a home overseas in 2016

16 top tips on buying a home overseas in 2016

by Louise Portugal Spain United States
  • Fall for an area, not an individual home
  • Know what you want BEFORE you visit
  • Think about what you will want in the future, as well as what you want now

The arrival of New Year provides a chance to take stock, make plans and look to the future with a positive frame of mind. For many, this will include the excitement of finally planning to buy their dream home overseas, providing the perfect antidote to the months of grey, chilly weather on offer in the UK.

Whether it’s a detached villa with pool on Disney’s doorstep in Florida, a stylish apartment close to the beach in Spain or a perfectly located country retreat in Portugal, the overseas property market is awash with great value properties for those who know where to look.

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

“We’re predicting great things for the overseas property market in 2016, with Spain and Portugal, the US and Cyprus all appealing in unique ways to buyers from the UK. We would always advise buyers to be cautious though, particularly if they haven’t bought overseas before – it’s really important to do your homework and buy through a trusted and reputable company.”

In that vein, Chris and his team have put together their 16 top tips on buying a home overseas in 2016, to help buyers turn their dreams into reality.

The Ideal Homes International 16 top tips on buying a home overseas in 2016

  1. Investigate on the internet – research potential areas thoroughly, rather than individual properties. Find out about local amenities, from beaches to restaurants, based on your priorities. Think about how those priorities may change in the future as well – a holiday home bought this year could serve as a retirement pad later on, so what facilities would you want on hand then? Don’t fall in love with a particular property until you know the location is right for you!
  2. Use an agent with form – opt for an organisation with a good track record. Make sure they have been in business for some time and have a long list of satisfied customers happy to speak about their experiences.
  3. Budget carefully – buying overseas isn’t just about the property price. Be aware of the buying costs like fees and local taxes. These can vary hugely from country to country, so do your research and budget accordingly.
  4. Plan a trip – once you’ve identified the places you like on the internet, hop on a plane and check them out for yourself. You will quickly be able to get a feel for whether or not a place is right for you and a few hundred pounds invested at this stage can serve extremely well when it comes to finding the perfect location for your new home overseas.
  5. Know what you want BEFORE you visit – think about how many bedrooms you need, whether proximity to the beach or a local golf course is important to you, whether you simply must have your own pool and whether the local supermarket can be reached on foot or by car. Whatever your preferences, have them firmly fixed in mind before you visit – and be sure that your agent understands them too. This will ensure that he/she is able to show you properties that perfectly suit your requirements and avoid wasting time spent touring unsuitable homes.
  6. Think about the journey – work out the journey from your current home to the area in which you plan to purchase. What are the flight times and costs like? Is there just one airline that flies into the local airport or several? Can you hire a car easily upon arrival if you need to? These factors will impact on how relaxed you are by the time you arrive at your overseas property each and every time you visit, so think the journey through in detail.
  7. Find a reputable lawyer – this is one of the most important elements of buying a second home overseas. A good agent should be able to recommend a reputable lawyer, or you can do your own research on the internet and by speaking to others who have bought property in the area. Chat on the phone with the lawyer and meet him or her when you visit – test their knowledge and be sure to choose someone you are comfortable with.
  8. Think about money matters – once you’ve bought your property, you will need to get money out to that country regularly in order to pay bills, take care of maintenance issues and so forth. Look at what you need to do to set up a local bank account and plan to do this as early as possible in the process. Bear in mind that many overseas banks also have a branch in London where you can take care of some of the initial paperwork should you need to do so.
  9. Remember the insurance – before you commit to purchasing a property, check that it is insurable and at a reasonable rate. If the area that you like the look of is prone to flooding or sink holes then it might be time to look elsewhere.
  10. Ask about hidden requirements – speak to your agent and conduct your own research online to ensure that you know everything you need to. In Portugal, for example, you need a fiscal number in order to purchase a property. You can get one quickly and easily from the local Finanças department for a small fee – or you can appoint a lawyer to take care of this on your behalf.
  11. Consider other significant expenses – what other expenses might your property purchase give rise to? One of the most commonly overlooked items is the need for a car, so think about whether you can access your new home on public transport, whether you will pay for a hire car each time or whether you would prefer to purchase a car of your own overseas.
  12. Is the property just for you? – if you plan to rent your property out as well as using it yourself then be sure that it appeals to a wide range of holidaymakers. Neutral décor and access to a pool can make a big difference to the number of people choosing your holiday home over another one.
  13. Speak to the experts – join some online forums and Facebook groups and chat to those who have already purchased in the area you like. Even better, find people who have moved fulltime and benefit from their experiences of local life.
  14. Know the market – understand price trends in the country and region you like in order to know whether or not your expectations are realistic based on your budget. Knowledge of local prices will also help you to gauge whether you are paying over the odds or picking up a real bargain.
  15. Think about maintenance – unless you are planning a permanent move, you will need to consider how best to maintain your property from afar. An isolated villa might be your dream holiday home, but an apartment on a managed condominium might present far fewer headaches in terms of regular maintenance, particularly if you plan to rent it out as well as use it yourself.
  16. Use an agent who does it all – find an agent you trust and who can offer you the whole package. They will be able to support you with every step of the process, from finding a reputable lawyer to arranging an inspection trip. This can often be by far the quickest and cheapest approach – and also the least hassle!

For further details call Ideal Homes International on 0800 133 7644 or +351 289 513 434, email info@idealhomesinternational.co.uk or visit www.idealhomesinternational.co.uk.

10 years on, the overseas property market resets itself

10 years on, the overseas property market resets itself

by Charly Cyprus Portugal Spain United States World ,
  • Portuguese property prices due to rise 5% p.a. for next 5 years (RICS/Ci)
  • Florida property values up 8.2% over past year (Zillow)
  • Portugal, Spain and Florida are hot picks for 2016 (Ideal Homes International)

Over the past decade, the landscape of the overseas property market has changed vastly. Property entrepreneur and Founding Director of Ideal Homes Portugal and Ideal Homes International Chris White has been selling property through the good times and the bad. After a turbulent 10 years, he believes the overseas property market has finally reset itself – and that now is the time to look to the future.

In Portugal, where Chris White is based, the market crashed spectacularly following the events of 2006/07, along with residential real estate markets around the world. Lesser estate agents would have crumbled (many did) but Ideal Homes Portugal stuck with the market through the hard times and came out the other side even stronger. Today, the flourishing agency employs 35 staff, selling properties across the Algarve as well as in the capital Lisbon.

Chris comments,

“There were some tough years in the middle of the past decade, but it’s wonderful to see the Portuguese property market back on an even keel again now. Prices look set to rise at a comfortable rate over the next few years. I’d say capital growth of 3-5% per year should be achievable for those who invest in the market during 2016.”

Data from the RICS/Ci Portuguese Housing Market Survey concurs. The August 2015 report suggested that prices would increase by roughly 5% per annum over the next five years. At present, a lovely two bedroom townhouse with private pool in Quinta do Lago can be picked up for €375,000.

Spain, as well as Portugal, has seen its property market reset itself over the past decade, although prices in Spain have been slower to recover. For buyers in 2016, this presents an excellent opportunity, according to Ideal Homes International’s Chris,

“Prices are rising in Spain, but many areas are still priced below their peak. There aren’t as many opportunities there as there were a year or two ago, but Spain is certainly still a good bet if you’re looking for a real estate market that has the potential to keep expanding over the next few years. The Costa Blanca would be my particular tip for those looking for a second home in the sun that can double as a savvy investment.”

At Orihuela, two bedroom/two bathroom off plan apartments are available from €129,900. Due for completion in December 2016, the apartments will each feature two large terraces, as well as community gardens, sea views and two large swimming pools (one heated).

Florida is another area that’s now back in the game, according to Ideal Homes International. A modern, four bedroom townhouse in Kissimmee, ideally located for access to Walt Disney World, costs just $285,000 (€252,000). Part of an exclusive gated community, the home includes a private pool area, screened in patio and comes fully furnished.

Prices in Florida have risen by 8.2% over the past year, according to Zillow, while data from the National Association of Realtors in June 2015 showed the US market passing its 2006 peak to reach record highs.

Back in Europe, the other country that Chris White of Ideal Homes International has flagged up for attention is Cyprus. Chris comments,

“Cyprus is an interesting prospect as a place to buy a holiday home in 2016. The market there has been incredibly quiet there this year and we don’t expect huge increases in prices over the next 12-24 months. However, what Cyprus does have to offer is fantastic value for money. If you’re looking for somewhere with great weather where your money can go a lot further, then Aphrodite’s isle is an excellent choice.”

As an example, a two bedroom villa in Konia, on a small complex of just six homes with a shared pool, can be picked up for €149,000.

For further details call Ideal Homes Portugal on 0800 133 7644 or +351 289 513 434, email enquiries@idealhomesportugal.com or visit www.idealhomesportugal.com.

Experts agree – Portugal’s property market is booming once more

Experts agree – Portugal’s property market is booming once more

by Charly Portugal
  • Sales up 79% at leading Algarve estate agency Ideal Homes Portugal
  • Sales volumes showing monthly growth at fastest level since 2010 (RICS/Ci)
  • Investors overtake second home owners as main buyer group (Ideal Homes Portugal)

The recently released September 2015 RICS/Ci Portuguese Housing Market Survey (PHMS) has revealed a swiftly moving market, with sale indicators pointing to the fastest level of monthly growth in sales volumes since they survey began in 2010. A sustained rise in demand has led to an acceleration in prices, with the market seriously gathering momentum.

On the ground, agents are equally positive about the state of the market. Chris White, Founding Director of boutique estate agency Ideal Homes Portugal, comments,

“Portugal’s property market is booming once more! Sales have increased hugely this year and we’ve seen a significant shift in buyer profile as increasing numbers of investors realise the potential of the Portuguese real estate sector.”

The numbers speak for themselves. In 2014 Ideal Homes Portugal sold a total of €14 million worth of property. In the first nine months of 2015, sales have already topped €25 million, an increase of 79%. Over the same period, the total number of properties sold by the company has increased by 69%.

In 2014, 90% of those buying property in Portugal through Ideal Homes Portugal were looking for a holiday home. Now, just 40% are after second home, while 50% are after an investment property (with the remaining 10% of buyers looking to relocate).

Two bedroom apartments costing around €200,000 are the most sought-after type of property. That kind of money is sufficient to buy a two bedroom penthouse apartment just a short walk from Praia da Rocha beach, one of the Algarve’s largest stretches of sand, backed by an array of shops, bars, restaurants and a glamorous casino. The same amount could also be used to purchase a two bedroom townhouse on a closed condominium with pool.

The Ideal Homes Portugal data also reveals an upturn in the mid-market property sector, for homes costing between €400,000 and €1,000,000. €400,000 is sufficient to purchase a superb two bedroom apartment with 100m2 roof terrace and shared pool on a luxury resort near Carvoeiro. For just under €1,000,000, buyers can enjoy a five bedroom detached villa with heated swimming pool close to the beaches and golf, in Varandas do Lago, Almancil.

Resale properties are currently outstripping new builds, with the Ideal Homes Portugal figures showing a 40/60 split in favour of resale homes. The findings are in line with the August 2015 RICS/Ci PHMS, which reported faster growth for the existing dwellings market than for new builds.

The massive surge in interest, particularly from British buyers, is thanks in large part to the on-going favourable exchange rate.

“Buyers are feeling safer in the UK market and are thus more confident about buying overseas,” observes Ideal Homes Portugal’s Chris White. “They’re looking for somewhere to invest in property that’s close to home and that means they can take advantage of the pound’s continued strength against the euro. Portugal is the obvious choice.”

RICS Chief Economist, Simon Rubinsohn also recognizes the increased confidence in the Portuguese market. He comments,

“The September results show the ongoing improvement in market activity is gathering steam. This is being driven by consumer confidence toward making major purchases reaching a post-crisis high as the economic backdrop continues to brighten.”

The swift pace of the market certainly shows no indication of slowing down. At Ideal Homes Portugal, the team hosted 61 client visits during the month of October 2015, compared with 44 in the same month the year before. After a difficult few years, it seems as though the Portuguese housing market has finally found the confidence that it was lacking, with investors and second home buyers looking to pick up a property swiftly in order to take advantage of rising prices.

For further details call Ideal Homes Portugal on 0800 133 7644 or +351 289 513 434, email enquiries@idealhomesportugal.com or visit www.idealhomesportugal.com.

Ideal Homes Portugal supports Dragon’s Operation Smile whilst in I’m A Celeb jungle

Ideal Homes Portugal supports Dragon’s Operation Smile whilst in I’m A Celeb jungle

by Charly Portugal

Whilst former Dragon Duncan Bannatyne languishes in the jungle, his friend and ally Chris White, founder of Ideal Homes Portugal  has been dreaming up a way to support him.

Duncan has been facing some interesting challenges including handling the rather tricky Lady C whilst competing on I’m A Celebrity Get Me Out of Here, but he seems to be doing a terrific job of being peacemaker in the camp.

His close friend Chris White was with him the day before he flew to meet Ant and Dec in Australia.

White says:

“I was supporting Duncan’s charity, Operation Smile at a dinner in Hastings on the Friday night before he jetted off Down Under. With the charity foremost in his mind, he’s committed his ‘I’m A Celebrity’ fee to Operation Smile.  Duncan is currently planning the charity’s next mission to Ghana to change the lives of children suffering from hair lips and cleft palates, raising £139,000 for this project which takes place this winter.”

Back in his Portuguese home, pondering his friend’s fate in the jungle, White has decided to further support the charity by donating a generous €1,000 towards Operation Smile every time Duncan wins a vote.

He hopes this action will help keep Duncan busy in the jungle and is a way of aiding this wonderful charity that gives so much back to children who wouldn’t ordinarily receive this life changing help.

Anyone who wishes to donate to this fabulous charity can visit the Just Giving page: https://www.justgiving.com/The-Bannatyne-Charitable-Trust/.

For further details of Operation Smile, visit www.operationsmile.org.uk.

For more information on this project please feel free to contact Chris White on info@idealhomesportugal.com or call 0800 133 7644.