Statistics from Kyero.com, Spain’s largest English language property portal, for Q3 2011 show that the national average asking price for property in Spain increased to €266,100 in September compared to €263,000 back in June this year, suggesting a shortage of quality properties in the most popular regions.

Of course, as prices rise and tourism booms with some Costa hotels enjoying 100% hotel occupancy over the summer months, potential buyers will be on the hunt for attractive opportunities. In fact, property professionals across the nation have already witnessed an increase in inquiries and inspection trips, with overseas mortgage specialist Conti recording a 7% rise in enquiries about Spanish property in August this year.

Marc Pritchard, sales and marketing director of leading Spanish developer Taylor Wimpey España, comments,

“The price rises in certain parts of Spain is an encouraging sign for investors with locations such as the Costa Blanca, Costa Calida, Alicante and Murcia experiencing marked price increases.

“Alicante, for instance, has experienced improvements in its infrastructure, seeing a second airport terminal open, which is always good news when it comes to attracting more visitors.”

Indeed, Alicante is one such region that has seen average property prices rise steadily since the end of last year with average asking prices of €220,000 seen in December 2010 gradually rising to €231,000 last month according to the latest figures from Kyero.com in Q3 2011.

With prices in Alicante province below the national average it is hardly surprising that it experienced the biggest number of sales to foreign buyers between April and June 2011, however of the 22% increase in Spanish property sales in Q2 2011, a total of 90,746 properties sold according to the Spanish government, Malaga hit the top spot for sales to foreigners with 1,110 sales taking place in the second quarter of this year.

Interestingly, despite the price of property in Malaga standing at €299,500 (September 2011), above the national average, buyers seem to have taken a shine to this Costa del Sol region thanks to its important cultural infrastructure and rich artistic heritage. Malaga has even been nominated as a candidate for the 2016 European Capital of Culture, destined to boost future tourist numbers as well as property sales.

Meanwhile, further statistics from Kyero’s Spanish House Price Index (Q3 2011) highlight that the Balearic Island of Mallorca has the third highest average asking price in Spain at €416,300. Perhaps the golf courses, infrastructural developments, glorious beaches, year round lively atmosphere, celebrity residents and world recognised events such as the Global Ocean Race 2011-12 account for the high asking price compared to other Spanish provinces.

Indeed the Spanish government’s 4% reduction in IVA (the equivalent of VAT) on new stock properties until 31st December 2011 offering a potential saving of €8,000 on a €200,000 home combined with Taylor Wimpey España’s additional 4% contribution is certainly a big factor at play in attracting more buyers to the country. And, whilst property on Mallorca is more expensive than many of its counterparts, savings such us this can make a real difference, offering a quality property in a popular location at a discounted price.

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According to TheMoveChannel, Murcia was one of the most searched for locations for Spanish property in August 2011 – with La Manga, Caragena and Mar Menor being the areas with the most interest.

Spanish property has always been popular with foreign property buyers and Murcia appears to be fast becoming one of the property hotspots in Spain. Given the price of the better known destinations of the Costa Blanca or the Costa del Sol, it is no surprise that investors are looking for cheaper alternatives – and the Costa Calida in Murcia is one of the areas. There is a wide variety of property available and with plenty of bank repossessed stock on offer, there are plenty of property bargains around.

According to the latest Spanish House Price Index from Kyero.com in July 2011, the average asking price for property in Murcia was €163,000. This figures is 62% below the national average of €263,000. Prices have also fallen over the last 2 years from a high of €185,000 at the end of 2009.

In the past, the Costa Calida had a massive oversupply of properties and this had a negative effect on property prices. Now, the local housing market is more stable and combines with a 50% reduction in IVA (VAT) until the end of the year, it is no surprise that property investors are keen to snap up property in and around the area.

Tourism in the area is expected to increase thanks to an approval for the Paramount Theme Park due to open in 2015. The Corvera international airport is due to have it’s upgrades opened next year meaning more footfall through the airport – again helping boost tourism in the local area. Increased tourism should help boost rental prices which in the long-term should help boost property prices.

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Over the last ten years, Albania’s economy has seen real GDP growth and, despite the economic downturn in 2008, is one of only two countries in Europe that not only recorded economic growth of 0.4% in Q1 2009 but also an impressive 6% growth from 2001-10 – meaning Albania can boast one of the strongest performances in Europe.

As well as these impressive economic figures, the House Price Index in Albania is also strong, having increased by 1.6pc in the second quarter of 2011. Experts have also said that house prices have remained stable throughout 2009 and 2010 meaning the housing market is stable and although this means mega-money has not been made, it is a positive at a time when many housing markets have seen dramatic decreases in prices during the same time frame.

EU accession progress, infrastructure investment and the disparity in house prices between Albania and neibouring countries all mean that house prices in Albania are likely to stay positive. Given the economic stability of the country over the past few years, this all adds up to good news for property investors who are looking for a relatively safe, secure place to invest in.

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Of course, when it comes to finding a place that provides beauty, tradition and tranquillity mixed with luxury living, beautiful people and pumping nightlife, the magnificent Spanish island of Mallorca wins every time.

It is thought that the writer Robert Graves first cemented Mallorca’s image as a fashionable holiday hub when he set up home there before the Second World War. He described the island as ‘paradise’ and ever since, celebrities have followed in their droves with Mallorca becoming a notoriously popular playground for the celebrity elite having welcomed its fair share of famous international tourists as well as genuine blue-bloods like Princess Grace and King Juan Carlos to its shores with many snapping up second homes away from the bright lights of the paparazzi.

Ignacio Osle, Sales and Marketing Director of leading house builder Taylor Wimpey de España, explains,
“Although Spain’s biggest island, Mallorca offers private beaches and secluded mountain retreats, affording enough comfort and concealment to continue enticing celebrities with many choosing to remain in the privacy of their villas and private grounds. But of course, there is always the opportunity to spot a star dining out in one of Mallorca’s finest restaurants or soaking up the sun on one of the beautiful blue flag beaches.”

The list of famous glitterati visitors extends far and wide with the likes of Paris Hilton, Sting, Joan Collins, The Beckhams, Tom Cruise, Brad Pitt and Gwyneth Paltrow having been spotted holidaying on the island while residents who have succumb to Mallorca’s charms include Michael Douglas and Catherine Zeta-Jones, unofficial ambassadors for the island who own a luxury house in S´Estaca and Boris Becker who has a £10 million estate in Arta.

Furthermore, super model Claudia Schiffer who describes Mallorca as “the most beautiful place” and one that is “idyllic, romantic and peaceful with an amazing coastline, wild mountain landscapes, friendly people and excellent food” adored the island so much that she bought an entire mountain and had a £6 million paparazzi-proof lavish hilltop estate built in Camp de Mar.

An alternative method of dodging the public eye sees celebrities take to the glistening blue waters, sailing the stunning coastline in search of sheltered bays where you are likely to find the floating homes of Jim Carrey, Jenson Button and Bill Gates in the famous marina of Puerto Portals. Likewise, the owners of American fashion label Victoria’s Secret have a 90-metre yacht in Mallorca while Hollywood tycoon David Geffen recently arrived to the island in his $300 million yacht but was outshone by Russian businessman Andrey Melnichenko’s 390ft megayacht, said to be the 15 largest in the world.

Indeed, tourists who like to stay longer and visit more frequently, especially the rich and famous, have helped to keep the real estate industry thriving in Mallorca. The relatively stable climate of Mallorca along with the quality of life on the island has long been a popular place to invest in property and has kept property prices well above average at €431,700 (Kyero.com, June 2011).

Taylor Wimpey de España who recently received an 86% customer satisfaction rate for 2011, are providing the perfect opportunity for potential investors to view their luxurious yet affordable fully furnished ready to move into properties in Mallorca at their show home event until the 15 September 2011 with properties such as El Puerto II, Cala D’Or and Pollentia Mar in Puerto Pollença open to prospective buyers.

El Puerto II consists of two bedroom apartments located on the south east coast of the island, very close to the stunning celeb hangout of Cala D’Or marina costing from just €177,000 with furniture included. With 3 communal swimming pools available these properties are surrounded by outstanding natural beauty offering various activities such as water sports, biking and golf in the local area.

Pollentia Mar located in the seaside town of Puerto Pollença on the north-east coast, within easy reach of the UNESCO listed Serra de Tramuntana mountain rangeand Pollensa’s famous Voramar promenade, priced from just €265,000. As a single block of apartments Pollentia Mar has a communal area, swimming pool and private parking with an abundance of facilities nearby as well as offerings of peace and quiet and beautiful views.

For more information on purchasing Mallorcan property and gazing at the stars please contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com. If you reside outside of the UK you will need to call 00 34 971 706 244.

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Research by TheMoveChannel.com has shown that in June, the majority of people looking to invest overseas were most interested in properties and real estate in Spain, France and the USA. Although there are plenty of countries which are seeing increasing numbers of overseas investors in property, it appears that the majority of investors want to go for a country they know.

Investing in the less popular countries can provide a better return on income in the long-run as you ‘get in there first’ before the property market really starts to pick up; However there is often little information on the country’s property market and the risks are usually higher due to the lack of information. There are also likely to be less companies able to help and advise you on your overseas property purchase.

Spain continues to dominate the top of the chart despite its property market’s recent shaky form. This is because Spanish banks are trying to shift a lot of property cheaply. With plenty of supply of property on the Spanish market, it has become a buyer’s market and the canny property investor can pick up good quality properties for great prices.

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Méribel, best known for being a top winter ski destination, transforms into a totally different kind of playground in the summer months, providing intense scenery covered in brightly coloured flowers and rich green trees all lit up by the sparkling sunshine. Yet remarkably, this Alpine hotspot remains a relatively undiscovered summertime land with many being unaware of the vast and varied outdoor activities that Méribel has to offer.

Situated in the middle of the Les Trois Vallées, a popular ski region in the Tarentaise Valley, near the town of Moutiers, Méribel’s stunning landscape provides the perfect environment for a whole host of summertime activities including hiking, mountain-biking, golf, climbing, parapenting, white-water rafting, canyoning, horse riding, tennis, glacier walking and hot air ballooning to name but a few.

Sitting on the edge of the 140,000 acre Vanoise National Park, founded to protect the rich eco system of the area and close to The Tuéda Nature Reserve, Méribel serves as a hikers paradise where levels reach up to 3,855m and include 500km of maintained and marked trails, suitable for the entire family to discover Méribel’s natural unspoiled beauty and 100 species of flora and fauna.

There are also opportunities to discover Méribel’s hidden wonders via an extensive network of cycling tracks snaking through the valley while professionals and amateurs alike can partake in the yearly Three Valleys Mountain Bike competition, completing circuits around the Three Valleys at various levels of difficulty with the help of the ski lifts. And for cycling fanatics, there is also a chance to catch a possible glimpse of the famous Tour de France cycling tournament.

If it’s golf you’re after, Méribel’s 18 hole course is perhaps one of the most handsome courses in the Alps. Developed by some of the world’s most famous golf course designers, Méribel hosts a three day Drive des Groumets Golf Competition each yearcombining golfing on the resort’s mountain course with gourmet wining and dining.

In addition to the outdoor activities, Méribel plays host to more relaxed goings-on such as concerts like Music’ Air, a one week event in July playing jazz, folk and rock music as well as street performances including the Magic Méribel event offering a week of illusions and workshops where you can learn circus skills and magic tricks.

By offering a myriad of activities and events to occupy even the most demanding of visitors it is clear that the picture-perfect destination of Méribel is destined to lure in visitors throughout the year, however the beautiful ski resort will be reverting back to its famous winter roots seeing Méribel host one of the highlights of the Alpine ski calendar – the World Cup finals in 2014/15, attracting vast numbers of winter sports fans from across the globe.
Charlie Williams, Business Development Manager of France’s leading eco-friendly leaseback property developer, Terresens, comments, “Certainly, internationally renowned events will help boost Méribel’s profile, coupled with the fact that France remained the world’s most popular travel destination in terms of international arrivals last year according to The UN World Tourism Organisation (UNWTO) seeing 76.8 million tourists arrive in 2010, indicating that France remains a tourism force to be reckoned with.

“It is no surprise that France remains the most sought after European holiday destination for all seasons, even seeing high profile celebs such as Harry Potter star Emma Watson recently investing in a Méribel ski chalet. Buyers are spending more, particularly when it comes to the top end of the marketand in my opinion, those looking to buy a beautiful French property to enjoy both in the sun and on the snow can do no better than Méribel.”

According to Holiday Lettings, which represents around 5,700 properties in France, bookings up until May this year for France were up by 11% with a growing number of enquiries coming from across Europe while sales of French properties to international buyers increased by 21% in 2010 from 42,300 in 2009 to 51,200 last year according to the latest Living Abroad survey by French bank BNP Paribas.

As the only new build development in Méribel, Terresens are providinga boutique luxury development in Chemin de la Chapelle in the centre of Méribel, Les Trois Vallées, costing from approximately €700,000.

Consisting of 8 units – 2 chalets and 6 freehold apartments where the layout and finishings can be custom designed to suite any taste, the Méribel development will be situated close to a wide range of facilities including a wellness and fitness centre, Olympic ice rink and swimming pool and a number of restaurants and bars to choose from including self-service mountain eateries and traditional restaurants offering local dishes.

For more information on purchasing a freehold home for all seasons in Méribel, France, please contact Terresens today on +44(0) 2030 101 110

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French property company, Pierre & Vacances (P&V), saw a major surge in leaseback enquiries during May from British investors following news that the French government plans to impose a 20% property tax from January next year on non-resident second homeowners.

Following the announcement of the proposals in early May, the number of enquiries for leaseback properties last month was more than double that of April as Britons interested in buying a property in France looked at options that are immune to this new tax.

Buying properties under a leaseback arrangement offers British investors looking to buy in France a way of avoiding the new tax because properties that are rented out or available for rent are likely to be exempt.

Under P&V leaseback arrangements, investors purchase a property and then lease it back to Pierre & Vacances, which then rents the property out through its tourist client base and network of tourism agents. Because the property is not freely available to the property owner, it is likely to be exempt from the new tax.

Although the proposed changes to the taxation of non-resident French property owners could be challenged in the European court, if the plans are passed then around 200,000 British people with second homes in France could be facing additional annual tax bills.

With non-resident French property owners already paying two taxes — the taxe foncière and the taxe d’habitation (though again not with leaseback properties) — the worry is that this extra tax could force many owners to sell up because they can no longer afford to maintain their properties.

Nick Leach, Head of Pierre & Vacances Property Investments, UK & Ireland, comments, “The news of this new tax has been a bit of a surprise, and for the thousands of Britons with second homes in France it will be a nervous five weeks to see if the proposals are passed in July. If they are, and the European Court doesn’t intervene, then we could start to see some of the British homeowners in France reconsidering keeping their properties.

“However, France is still a popular country for British buyers and despite understandable concerns surrounding this new tax by the French government, there are options available to anyone keen on buying a property in France that are likely to be exempt from the 20% property tax – and buying a property through a leaseback arrangement is one of them.

“Leaseback purchases offer property ownership, guaranteed rental income as well as the option of personal use if buyers want a second home. In the case of Pierre & Vacances, investors can choose to buy a leaseback property with personal usage included, ranging from anything from two to 20 weeks. With investors also benefitting from a VAT rebate of 19.6%, we are expecting to see significant interest for French leaseback properties over the coming months if the planned tax proposals are formalised.”

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France is hoping to bring in a new tax equal to 20 percent of the property’s rental value, applicable to absent overseas property investors. The new tax is designed to help reduce France’s 176 million Euro annual budget deficit.

Although EU member states are free to set their own taxes, there are laws which cover the free movement of capital within the EU. Some experts believe that the draft law may limit this free movement of capital and thus may not be allowed to go ahead.

The draft law has been approved by President Nicolas Sarkozy’s cabinet and will go before France’s parliament in July. If passed, it will come into law sometime in 2012.

With increasing numbers of overseas investors buying French property – Paris in particular has seen a massive increase in property prices in recent times – it is no surprise that the government are looking at property ownership as a way of earning more tax. However some believe that the new law, if passed, could backfire by negatively affecting the enthusiasm of French property investors from abroad.

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Floridian property experts Property Frontiers believe that the sunshine state has finally reached the bottom of the cycle and that home prices will slowly but surely begin to once again increase. This feeling is echoed by the Florida Association of Realtors (FAR) who has reported a 24% increase in existing home sales in March 2011 compared to the same time last year.

“A variety of housing opportunities are available at attractive prices across the state, while mortgage interest rates remain historically low,” said Patricia Fitzgerald, 2011 Florida Realtors President.

Condominium style properties in particular are leading the way for sales with 9,703 units sold in March 2011 alone and it is foreign investors driving this come back. Non-US citizens, especially European residents are seeing low bank interest rates in their home countries and Florida today offers exceptional value for money in terms of the size and specification of property that you can purchase, the positive prospect of market recovery as well as homes offering appealing returns. Buyers can become the proud owners of a four bedroom condo with pool close to Disneyland for $150,000 in today’s market; prior to the market crash these properties would be sold for at least double that.

Florida remains one of the most popular global holiday destinations, something that British Airways is capitalizing on by increasing their long haul flights to Tampa to a daily service in response to the demand for travel stateside. This continued popularity for Florida tourism, some 82.6 million visited in 2010, an encouraging 2.1% increase on 2009 numbers, reinforces why buy to let investors with a keen eye on the market are now dipping into their pockets to secure their Floridian bricks and mortar, right at the beginning of the recovery in order to make maximum returns.

Ray Withers, Director of Florida property investment experts, Property Frontiers, comments, “As with every market the old adage reins true of location, location, location. It is important for buyers not to be blinkered by some of the really cheap deals on offer in Florida; most of the time, cheap is simply cheap.

“You won’t attract the crucial holiday rental market to a low specification property in an out of town location, also the poorly located properties will be the last to come through the market depression and at a time when on the whole the property market appears to be at rock bottom spelling future positivity for investors, this would be a critical and costly mistake to make”.

Highgate Residences at Regal Palms for example in Davenport, just one hour from Tampa, unlike many below market value property offerings, is zoned for short term rentals which allows owners to let to holiday makers seeking fun and adventure at the nearby themes parks such as Walt Disney World and Sea World. These holiday lets will earn investors a guaranteed 8% net yield per year with only a modest 64% occupancy rate required to achieve this. Highgate Residences is a turnkey and hassle free investment opportunity which also offers plenty of personal usage for owners so they can make the most of their 3 or 4 bedroom upscale townhouses.

A limited number of townhouses are available at Regal Palms from $99,000 so contact Property Frontiers today on +44 (0) 1865 202 700 for more information or visit www.propertyfrontiers.com

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Turkey is currently the hottest destination for travel and property, the 16th largest economy in the world which welcomes 30 million tourists per year and rising according to ABTA. The economic powerhouse of Istanbul is the destination in Turkey ranking as the number 1 city for new property acquisitions and developments according to the latest Emerging Trends in Real Estate Report Europe from PwC and the Urban Land Institute. And Bahcesehir is the hot new destination in Istanbul for property investment with a growing university, high demand from the middle classes for quality property and impressive transport links to the central business district.

Just 20 kilometers from the centre of Istanbul lays Bahcesehir, the ‘Garden City’, a booming middle class suburb. Not only is Bahcesehir close to the cultural and financial hub of Turkey but it is also only a 20 minute drive from Ataturk International Airport reachable via the TEM motorway. Location-wise it really is a prime destination for property development and foreign investment. But what else does Bahcesehir have to offer the eager buy-to-let investor?

Alexander Tomlinson, Istanbul property investment expert, Director of agency GEM Invest, and no stranger to the region having lived in Istanbul for several years, comments:

“One of the key features of the area from an investor’s point of view is the growing university. Gurhan Kara, the Director, informs me that there are currently 11,000 students studying there. A large majority of these students will require quality accommodation driving rental demand in the vicinity. GEM Invest are currently offering 1 or 2 bedroom apartments in a modern new development – Belgravia Residence – only minutes from the new campus under development at the university.”

Tomlinson continues:

“Beyond the student rental market, Bahcesehir is a desirable location for the growing middle classes of Istanbul. Statistics show that the income here is 6 times the national average in Turkey and buyers today are also the first generation to be offered mortgages, although housing loans currently only constitute 5% of consumer debt in Turkey. The region ticks all the boxes for the upwardly mobile and affluent families moving into the area and out of the congested CBD. Bahcesehir has a developing infrastructure of schools and amenities; there are a number of shopping malls such as Akbati shopping centre, Akkoza mall and Prestige mall. Soon the new Bluewater shopping centre will open which has been leased by the Dutch retailers Corio. The largest shopping mall in Europe called Marmara will also open soon which is only a 10 minute drive away.”

Bahcesehir certainly lives up to its name of the ‘Garden City’. Development was initially planned around a central park with surrounding residential properties but what Bahcesehir ended up with was far more impressive. The suburb boasts the largest manmade lake in Turkey, stretching over 300,000 metres. The lake is surrounded by parklands with restaurants, a tea house, sports facilities, running track, horse riding, equestrian club, golf clubs and its own amphitheatre. It is also home to the Aqua Dolphin Waterpark, the largest in Istanbul and a mecca for families, but if it’s the real thing you are after then Buyukcekemece beach is only a 5 minute drive away.

You might think that purchasing in this sought-after location comes at a price but this is not the case. Apartments at the Belgravia Residence start from only £48,000 with the bonus of a 7% rental guarantee for 2 years. Bahcesehir is a hotspot for expected capital growth offering investors another critical dimension to their purchase.

For more information contact GEM Invest on +44 (0) 203 287 7440 or visit www.geminvest.net.

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