Overseas Property Investment Blog | Nubricks

Marketing To Chinese Tourists
The World Tourism Organization recently conducted a study which projected that China would become the one of the largest markets for tourism within the next seven years. The total revenue from tourism in China last year was well over $150 billion. At last months International Tourism Fair in Beijing, Cape Verde was one of more than seven hundred exhibitors from over eighty different countries, agencies of travel, as well as foreign and Chinese offices of tourism, there to promote themselves as tourism destinations and with a view to attracting not only Chinese tourists by potential investors too. According to the secretary of the embassy in Beijing for Cape Verde, Jose Correia, “the potential for tourism in China is among the highest, and the intention is to attract tourists from China to Cape Verde and help Chinese companies find an interest in the packages of Cape Verde.” The travel marketplace is an industry which is rapidly expanding in China alongside India and Latin America as the citizens of these developing nations begin to enjoy increased personal wealth. With this summers Beijing Olympics as a launch pad, China has been enjoying double-digit growth in its own tourism figures which have doubled in the past five years. China is expected to overtake France already threatened by new emerging resorts, as the number one tourist destination by 2020 and number two Spain within a decade. The Chinese capital is preparing to receive 500,000 overseas visitors during the 2008 Summer Olympic Games from August 8-24, up from 350,000 visitors in August 2006. This year alone China’s tourism industry is expected to generate US$78 billion, 2.5 percent of GDP, a figure that could rise to US$277 billion by 2017, according to the World Tourism Organisation. Ignore the tourism potential of China at your own peril ! Post from: Overseas Property Blog Marketing To Chinese Tourists

Porches Golf Apartments, Algarve: Price Increase 6th July
Following a pre-launch period where early investors can enjoy a discount of 8%, prices on the Porches development currently being marketing by E-Quity are set to rise on the 6th July. The new pricing structure will see units start from ?159,000 ? excellent value when compared to other projects on the market in the area. The project consists of 22 2 bed, 2 bath apartments located in Porches, western Algarve only 150m from the beach. The project will be low rise building, developed in a modern design with a large communal swimming pool on the site. The high quality apartments are 65m2 plus either a sun terrace or a small garden. Although there are dozens of golf courses within easy reach of the project, there are three courses less than 5km from the site from the beautiful 9 hole par-3 Vale do Milho course to the Championship Vale de Pinta, one of the best designed golf courses in Europe. Discount ends 6th July 22 2 bed, 2 bath apartments located in Porches, only 150m from the beach High quality apartments, 65m2 plus outside space Low rise building, developed in a modern design with large communal swimming pool 3 top quality golf courses within 5 km from the project; Vale do Milho, Vale de Pinta, Quinta do Gramacho To take advantage of this fantastic discount and reserve your unit Call E-Quity.com on 0207 952 7654 Post from: Overseas Property Blog Porches Golf Apartments, Algarve: Price Increase 6th July

Pacific Wins Best Development Award in CNBC Arabian Property Awards 2008
The results of the CNBC Arabian Property Awards 2008 have just been revealed and Select Property, in conjunction with its development partner Select Group, is delighted to announce that it has won an award in the category of Best New Development 2008 for the Pacific development on Al Marjan Island in Ras Al Khaimah. The award will be presented at a glittering gala dinner to be held at The Madinat in Dubai on 19th October. The fact that Select Property and Select Group earned one of these coveted awards is sure proof that Pacific can compete and triumph within the highly competitive Arabian property arena. Having been given this high recommendation by its peers, the company is now entitled to display the CNBC Arabian Property Awards? logo with pride. This symbol of excellence will be recognised and appreciated by the public who are becoming increasingly well informed and discerning about the properties they seek to buy. Entries were judged by a panel of professionals whose collective knowledge of the property industry is second to none and unsurpassed by any other property awards. Chaired by Eric Pickles, British Shadow Secretary of State, this year?s judges included Helen Shield, editor-in-chief of International Homes magazine; Peter Bolton King, chief executive of the National Association of Estate Agents; Phil Spencer, property expert and presenter of Channel 4?s Location and Relocation TV shows; Imtiaz Farookhi, chief executive of the National House Building Council; Christopher Hall, past president National Association of Estate Agents; Wilhelm Harnish, Master Builders of Australia (MBA); Thijis Staff, International Consortium of Real Estate Agents Association (ICREA); Alejandro Escurdero, SIMA; Kirkor Ajderhanyan, French Real Estate Federation (FNAIM); Omer Ghani, director of sales, CNBC Arabia; Ed Binkley, BSB Design USA; Samantha Braniff, Sydney Morning Herald; Raul Curiel, chairman, European Operations, Aukett Fitzroy Robinson; Tyler Clay, FIABCI USA; Hans-Ulrich Berendes, FIABCI Germany; Oliver Richards, founding partner, ORMS Design; Christian Kalin, partner, Henley & Partners Zurich; Graham Norwood of the Daily Mail; David Hoppit, property writer; Jill Keene, editor of International Homes magazine; Diana Yakely, chairman British Interior Design Association; and Tad Zurlinden, Association of Relocation Professionals. Mark Stott, Managing Director said of the award, ?Pacific is Select Property?s first joint development with Select Group so we are thrilled with this prestigious accolade. Pacific is located in the emerging emirate Ras Al Khaimah which is attracting increasing numbers of investors. The area is predicted to enjoy the same level of success as Dubai, which is why we decided to develop there. Now is the time for investors to buy in this naturally stunning area.? Pacific is already generating huge interest, with its one and two bedroom apartments, Beach Duplexes and Gulf Suites. Due for completion in June 2011 the development consists of six contemporary, architecturally spectacular buildings, each named after Pacific Islands. Pacific is situated in a prime location on Al Marjan island, offering residents private beaches overlooking the clear waters of the Arabian Sea and year-round sunshine. Facilities include 24-hour security, maid service, saunas, steam rooms and Jacuzzis a glass topped gym and health club. There is also countless dining and shopping facilities. News submitted by Helen Cotton, Select Property Post from: Overseas Property Blog Pacific Wins Best Development Award in CNBC Arabian Property Awards 2008

Yet More Good News for Bulgaria Property Investment
Recent news from the Bulgarian banking sector confirms what many property investors have known for a while ? investment potential in Bulgarian property is one of the best in the world. Not only does capital growth top global rankings, but the Bulgarian mortgage sector is booming. Data just released by RNCOS ? a leading market research company ? confirms that the Bulgarian real estate market was the world?s strongest in 2007. The RNCOS report, Bulgarian Banking Sector Analysis, also found that Bulgaria?s mortgage sector is one of the fastest growing in the banking industry with housing loans accounting for one third of all lending products. The Bulgarian mortgage market may be young, but in its short life it has shown remarkable growth. After liberalisation of the mortgage sector in 2004, the Compound Annual Growth Rate (CAGR) increased by a massive 87% between 2004 and 2007 with growth for the period 2007 to 2010 predicted to be at a similar spectacular percentage. Bulgarian National Bank figures report that Bulgarians took out over ?2.5 billion in mortgages over the last year and home loans now account for almost half the loan total (a rise of nearly 25% over the last 3 years). Not only has mortgage lending seen a massive hike, but Bulgaria has also experienced a huge increase in mortgage products. ?Being able to choose from a variety of products is very important for the property investor,? comments Ken Thorkildsen, Director of Obelisk Private Finance, ?and the choice in Bulgaria has improved almost beyond recognition in the last few years.? Of particular interest to property investors are products for remortgaging and equity release. Equity release amounts have increased by up to 75% of the appraised value, which allows property investors leverage for other products, therefore providing the opportunity to expand their property portfolio. Interest-only mortgages are also a vital tool in property investment and while these were previously for a maximum of 2 years, Bulgarian banks are now offering interest-only home loans for up to 10 years. ?This is a real bonus to the Bulgarian property market,? says Ken. Furthermore, banks have recently reduced mortgage tie-in periods meaning investors who sell their property soon after purchase have less to pay in redemption charges. Some banks have cut tie-in periods to just 3 years. With increased choice in Bulgarian mortgage options, independent financial advice is more important than ever before. ?The investor?s maxim should be to minimise borrowing costs and, at the same time, ensure returns are maximised,? says Ken. ?Only a professional financial adviser with up-to-date information can guide you through the myriad of new products available in the Bulgarian sector.? Obelisk Private Finance?s expertise lies in its international approach to financing, recommending products both in the country of residence and overseas. This ensures the most profitable option is chosen whilst guiding each client through the entire mortgage and legal process and advising on the various tax implications. News submitted by Obelisk Private Finance Post from: Overseas Property Blog Yet More Good News for Bulgaria Property Investment

Cape Verde to Become World Trade Organization Member
According to the World Trade Organization, Cape Verde is going to be the 153rd country to become a member of the organization. The World Trade Organization says the nation, made up of nine islands west of Africa, has accepted the commitments to become a member and having met its entry requirements, Cape Verde set to become part of the organization in late July. ” This is yet another feather in Cape Verde’s cap and further adds to the islands investment credentials. The WTO’s accession process can take up to five years and by successfully meeting the WTO’s entry requirements, the Cape Verde government has demonstrated its ability to bring its trade and economic policies up to standard, ” commented Nubricks.com overseas property blog editor, Chintan Mahida. “Cape Verde WTO membership bodes well not only for the country but for investors in Cape Verde’s property market,” Miss Mahida added. The most recent countries to become members of the World Trade Organization were Ukraine, Vietnam, Tonga and Cambodia. All countries with strong emerging property markets. Post from: Overseas Property Blog Cape Verde to Become World Trade Organization Member

Southern Spain tops the property charts again and again
The Costa del Sol and Malaga in Southern Spain has been hitting the headlines the past two months; for all the right reasons, with a plethora of much-needed positive and enthusiastic stories. Most recently we have seen reports state that property prices in the fabulously exclusive resort of Marbella have escaped the fall in house prices with an increase of 2.15 per cent. House prices in Marbella are now the highest in the province, at 3,125 euros per square metre. Adam Godwin, Marketing Director of Dream Homes Worldwide, comments, ?This is great news for the Costa del Sol with many of the developers really understanding how to attract clients in this tough property market. Although Marbella is regarded as a luxurious resort, there are some fantastic property bargains to be found around this area and it just goes to show why Southern Spain is the number one destination again and again for Brits looking to purchase overseas property. Spain attracts thousands of property buyers every year due to a number of factors that include its fine climes, fantastic lifestyle, cheap cost of living and just two hours flight time from the UK. The Post Office recently stated that fuel prices in Spain are among the lowest in the Eurozone, at 30% lower. With the majority looking for a holiday home or intentions to retire, it?s clear to see why Spain lures so many to its sunny shores. The province of Malaga has recently just been awarded the most ?Banderas Azules? (Blue Flags) in Andalucia for its beaches, in recognition of cleanliness, safety and environmental awareness. Along with the recent report that thirteen of the top secondary schools in Spain are located in the Malaga province, seven of which are on the Costa del Sol, Spain truly is an all round fantastic destination in which to live. With the current expansion of Malaga International Airport which will handle over 15 million passengers when complete, along with the welcome of direct flights to New York and Dubai, Spain is setting its sights high as a worldwide number one destination. Adam Godwin continues, ?Southern Spain is at present a true buyers market; with top-quality properties from just £92,799, no-where else in Europe quite literally compares to here. News submitted by Louise Shipway, Dream Homes Worldwide Post from: Overseas Property Blog Southern Spain tops the property charts again and again

Create The Wow Factor With An Overseas Property Makeover
If you are selling your home in Spain or planning to let your property, a makeover might just make all the difference. In the current property climate, homes with the wow factor are the ones that catch the buyer?s eye first. In Spain?s competitive rental market, an attractive living space means your property instantly appeals to tenants. Home makeovers are an increasingly popular option for property owners. According to recent research carried out by Alliance & Leicester Personal Loans, Brits estimate that it costs around £12,000 to get their home to the standard or design they would be happy with. As Lesley Watt, Director of Obelisk Interiors, points out ?You never get a second chance to make a first impression and a home makeover gives your property the opportunity to shine as soon as buyers or tenants walk through the front door.? Top of the list of the most popular home improvements is redecorating, an easy and relatively low-cost makeover solution. New bathroom suites and kitchen re-fits follow closely behind on the list of makeover priorities and according to Alliance & Leicester, have the extra advantage of adding value to your property. A home increases by a staggering 25% if you put in a new kitchen and a new bathroom suite translates to a rise in your property?s value of 11%. But home makeovers are not for the amateurs and if you want to guarantee a sale or increase the rental potential of your property, you need to employ professionals. ?Home improvements should make your property more desirable, but also ensure that you obtain maximum benefit from the money you spend on the makeover? says Lesley. ?DIY solutions or choosing the wrong professionals can lead to costly mistakes and do little or nothing to enhance your home.? Obelisk Interiors provides comprehensive home improvement solutions including complete makeovers requiring specialist skills such as decorating and minor building works. Furniture packs are also available to suit all budgets and tastes. For a buy-to-let property, a furniture pack allows you to let your property straight away and for the owner trying to sell, new furniture and fittings often totally transform a house. As Lesley points out, ?Many homeowners underestimate the difference new furniture can make to a property, especially a new style.? News submitted by Obelisk Interiors Post from: Overseas Property Blog Create The Wow Factor With An Overseas Property Makeover

New Resorts Threaten Tourism in France
France is the number one tourist destination of the world, according to current figures released by the French Tourism Ministry, which show that approximately 82 million foreign tourists visited France in the year 2007. The number of foreign visitors is up 4% on 2006, however if compared to the number of French tourists visiting in earlier years, there has a major drop, decreasing from 11.9% to 9.1% from 1990 to 2008, and is a matter of concern for the French tourism, who believe new resorts springing up in emerging markets are largely to blame for France’s tourism decline. According to French tourism official Mr. Herve Novelli, the development of new resorts in Dubai, Croatia, Morocco and Tunisia has created some tough competition for the French tourism industry. They are not only competing with new and high tech visitor attractions in the case of Dubai’s forthcoming Dubailand but the exotic nature of locations such as Morocco and Tunisia. The increasing numbers of foreign visitors to these destinations has pressed the alarm button of French tourism officials, and is a wake-up call to start planning tourism campaigns and marketing strategies to counter the drop in the amount of visitors to France and ensure France retains its number one title as the world’s top tourism destination. Novelli, revealed the French Tourism Ministry is looking at a variety of solutions to counter the drop in the foreign tourists by attracting new foreign visitors. As part of this process, last week, the Ministry initiated a drive to encourage tourists from the emerging economies of India, China, Russia, Brazil and Mexico to discover the wonders a la belle France. As these economies become wealthier, increased travel is one of the first side effects of a wealthier society and France clearly understands the benefits in attraction these tourists to its country. The threat of new resorts is already having an impact on the more established overseas property markets with holiday home buyers and real estate investors opting for emerging markets which offer better value for money or a more exotic holiday environment. As an added incentive Mr. Novelli also said, that the intention is to allow more low cost airlines to fly operate new routes to numerous destinations in France in the hope that tourists will respond to the cheap flights on offer enabling them to sample more of the destinations on offer throughout France. The advent of new low cost flight should prove beneficial to French property owners who may benefit from increased tourism bookings of French holiday properties and cheaper access to their holiday home in France. Post from: Overseas Property Blog New Resorts Threaten Tourism in France

FlyDubai new low cost airline unveiled in the UAE
The Gulf?s first low cost airline has been named as FlyDubai this week after months of waiting and wondering since it was unveiled in March this year. Flights on this new venture will commence next summer. FlyDubai will provide regional flights within the Gulf region and surrounding countries and will be another progressive step for communications within the UAE. Operations will be entirely separate from Emirates Airline and Group. The name which was revealed this week carries a strong association with the city of Dubai, itself a brand synonymous with excellence, reliability and an international, pro-business approach and looks set to be hugely popular when flights commence next summer. FlyDubai?s ?start-up? date has yet to be confirmed but will follow shortly on from the brand identity launch which will be unveiled in the coming months. Sheikh Ahmed bin Saeed Al-Maktoum, chairman of FlyDubai said, ?FlyDubai?s operations will potentially cover an area of some two billion inhabitants and will support Dubai?s commercial and tourism sectors by serving a new set of travelers, and providing them with affordable air links to popular, high-demand destinations.? Extensive marketing and plans are on track for FlyDubai?s 2009 ?take-off? with recruitment for key positions, evaluating aircraft options and routes?, working out our pricing and distribution strategy, and putting in place the structure and operational resources for the business is well underway. Ghaith al Ghaith, the airlines chief executive commented, ?We want to make it easy for our customers to interact with us, and to have more control in how they book, purchase and select value-added services to their basic flight experience.? News submitted by Louise Shipway, Dream Homes Worldwide Post from: Overseas Property Blog FlyDubai new low cost airline unveiled in the UAE

A Happy Ending for Overseas Property Investors
Recent property statistics confirm that Brits just cannot get enough of overseas property. Figures released by the Association of International Property Professionals (AIPP) claim that in 2007, the British spent a staggering £246 billion on homes abroad, a 21% increase on 2006. Spain still tops the favourite destination chart ? Spanish homes accounted for over a quarter of all purchases ? but newer markets are fast emerging as investor favourites. According to a survey carried out by property investment company, Obelisk, Bulgaria, Turkey and Romania head the list of preferred countries for investment in bricks and mortar. Savvy investors have seen high capital growth and strong rental yields in their property investments, but this is by no means always the case. Media reports continually highlight the flip side to property investment and horror stories involving purchases abroad appear almost daily. Overseas property investment is not something to be taken lightly, but there are certain steps you can take to ensure that investment in a home overseas does not end in tears. By applying a combination of thorough research, due diligence and canny financing, buying a property abroad should have a happy ending. Research holds the key to success. Only careful analysis of the myriad of factors involved in a purchase means you can be sure of walking into an investment with your eyes wide open. Aspects such as the local and national economy, the tourist industry and property market history are all essential when it comes to making an investment decision. At Obelisk, a world leader in overseas property investment, they take their research very seriously. ?We believe that an investor should only commit to a purchase when they have enough information to base their decision on? advises James Gonzalez, Market Analyst at Obelisk. ?Our comprehensive in-house research and analysis ensures our clients receive the most secure investment opportunities.? Hand in hand with exhaustive research should be due diligence. This means you avoid falling victim to a property with no planning permission or to a developer going bankrupt. It also ensures you get what you paid for. ?One of the main pitfalls of property investment is lack of financial and legal security? warns James. ?At Obelisk, no project is released unless it has met our compulsory due diligence criteria.? Following research and due diligence, careful financial planning, guided by experts, makes the difference between laughing or crying all the way to the bank. Remortgaging your current property is often the easiest way to become a cash buyer, but taking out a mortgage on your investment property may cost you less. However, you need to consider the fees and costs involved throughout the process to make sure you incur minimum costs but achieve maximum gain. Ken Thorkildsen, Director of Obelisk Private Finance, adds, ?The number of mortgage products available abroad is increasing for non-resident property buyers. But in order to secure the best solution at the most competitive rates, it is essential to seek the advice of overseas finance specialists. At Obelisk Private Finance, we source only the most competitive products from those available in countries throughout the world.? If you are among the thousands of British owners of properties abroad or planning to join them, apply the tried and tested formula of research, due diligence and wise financing. Then write your own happy ending. News submitted by Alison Kane, Obelisk International Post from: Overseas Property Blog A Happy Ending for Overseas Property Investors