PROPERTY

The Costa del Sol, Spain was the favoured destination of most Northern European’s who were looking to buy a property investment in the sun, a good example is the popular resort area of Calahonda about 15 minutes from Marbella, in 2001 a nice two bed apartment, of about 100m2 was roughly 120,000€, by 2006, in the same area, a newly constructed two bed apartment had shrunk to 75m2 and was roughly 250,000€.

Tales of gold and glory were sold to the property investors, now many of these home owners are left looking at their investments standing still, and in some cases decreasing in value as the property market slides downwards after years of growth.

The Spanish property market during its boom time reflected the healthy and positive economic mood of the whole of Europe, examples such as Ireland riding high on its aptly named Celtic Tiger and the UK experiencing a strong currency exchange rate against the Euro, fed the Costa del Sol with thousands of buyers, many who purchased in multiple units. So as demand increased so did supply, to the point of saturation. Locally the demise of the Costa del Sol property market was caused by a glut of properties on the market, and the icing on the cake was the general world recession which has dried up the stream of buyers.

Those who bought at the height of the boom were left with properties estimated to be 30% over priced. Those who bought before the boom, were left competing with thousands of other properties of a similar ilk, and the only way to compete was to drop the price.

Now we are seeing prices fall as much as 25% in many cases for some outstanding properties, a good example would be a two bedroom, 100m2 unit in La Quinta one of Marbella’s most sought after addresses, initially priced at 299,000€ this is now on offer for 219,000€, parking, storage and fully furnished.

Or take this apartment, just 10 minutes from the play ground of the rich and famous Puerto Banus, a 3 bedroom unit 125m2 with spacious terraces reduced a stunning 41% from 475,000€ to 277,000€.

For those who can put their hands on cash now, or accept lower than usual mortgage lending amounts from the banks they can certainly snap up a bargain. We are already seeing investors and speculators with cash to spend picking off the best distressed units. 

The market will eventually revive on the Costa del Sol, Marbella and its surrounding locations will always be a popular destination for many, with its mild climate and vibrant night life, here is a location of sun, sand and fun for people of all ages. A golfers paradise and a shoppers dream, Marbella has had its ups and downs over the decades but it will never lose its charm as one of Europe’s most popular holiday destinations and now that the property prices are at their lowest since 2002, now would certainly be a good time to take a better look http://www.alandahomes.com/resale-property-marbella.html

At best, Hungary is a paradox and hard to understand from the investment point of view! This landlocked country has some of the best tourist spots, yet tourism has not attained the peak it should have. Hungary is one of the fastest growing economies in the EU, yet the property stock in real estate has yet to expolde. We’ll try to understand the country a little better and hopefully, after reading this article, you will appreciate why property investment in Hungary is one of the best options in the EU.

Attractions of Hungary

Hungary is a multi-cultural destination, with a tinge of many cultures left behind from its former rulers. At different eras throughout history, the country was ruled by the Magyars (a Finno-Ugric tribe that arrived via Russia in the 9th Century), Arpad Dynasty, and Mongols. The multiculturalism is also attributed to the shared borders with countries like Ukraine, Slovakia, Romania, Croatia, Austria, Slovenia, and Serbia.

Since Hungary is a landlocked country, the Ocean tourism is a non-starter. However, this doesn’t mean that the country has dearth of tourism potential. In fact, one of the highlights of Hungary is the water-features dotting the country. Lake Balaton is known for its hot medicinal springs. The River Danube runs in the middle of the capital city of Budapest, and divides it into two parts – ‘Buda’ and ‘Pest’. The River Tisza is regarded as one of the finest rivers in Europe for fishing.

Hungarian vineyards, orchards and National Parks offer a special treat for the visitors in this country. Hungary is also known for being home to internationally acclaimed writers, artists and musicians due to its rich history and culture that promoted intelligentsia to the hilt. The modern Hungary, including the capital city of Budapest, will welcome you with trendy nightclubs, bars and discotheques.

The Börzsöny, Pilis and Mátra ranges north of Budapest are famous for hiking and skiing.

Property Investment in Hungary

As we can see that the country has lots of tourism potential. Therefore, any kind of investment in vacation property around the country should yield rich dividends.

Though the country became a member of European Union in 2004, the residential property market has not peaked as yet. In fact the recent years have witnessed a fall in property prices. However, commercial and industrial property in Hungary has shown remarkable strength, growing in leaps and bounds, and it’s just a matter of time before the residential property sector also catches up with other properties types in Hungary.

At current prices, you can hope to land yourself a decent apartment in Budapest for as little as £26K. Villas in Budapest command a higher price. But if you compare the size and location of property, then a Villa for £70K is not a bad choice in Budapest.

The overseas property investor, particularly from Ireland and the UK are flocking to Hungary purely on speculative instincts. The fundamentals of Hungary are too strong to ignore in the wake of the sluggish residential property market. Moreover, the government is doing its bit by relaxing the property owning laws of the country to bring them in consonance with the changing global order.

Why investment in Hungary makes sense?

The prime reasons that compel you to invest in Hungary include -

1. One of the fastest growing and stable economies of Europe.

2. Property appreciation averages 16% annually.

3. Rental yields in Budapest averaging 6% annually.

4. Any foreigner can buy real estate in Hungary.

5. Capital Gains taxes are declining.

6. Proactive government promoting the investment scenario in the country.

7. Several multinationals have already set up their shops in the country in the hope of capitalizing on Hungary’s economic might.

8. Excellent cultural environment on offer that encourages overall development of personality.

9. Low property prices.

10. Stable democratic government enjoying the full support of Hungarians.

11. Inviting climate with fertile plains offering ample opportunities for nature lovers.

12. Very well connected with budget airlines taking off regularly for major European and global destinations.

13. Historic roots of the country are always attracting researchers and historians from around the world and thus, make the country a richly deserving one from the investment point of view.

Buying a property in Hungary

The legal formalities of buying a property in Hungary should be best left to an expert real estate agent or an astute lawyer who understands the technicalities of property deals in the country. Though the government is trying its best to streamline the process but still there are lots of formalities before the property actually changes hands. There may be some routes, like establishing a Limited Liability Company, which make things easier for the property transfer. But for an expert opinion, you need to rely on a good local lawyer or real estate agent. For further details on buying a property in Hungary check out our Buyers Guide to Hungary.

Property for sale in South West France is witnessing increasing demand for several reasons. Southwest France is rich in agriculture. The countryside topography is having wide variations and the diversity of the area presents not only several construction and project opportunities but the scenic beauty of the area also draws people like a magnet. More than anything else, the climate is the chief attraction of property in southwest France. The weather is the second best in entire France, next to Cote d’Azur. Summer temperatures are mild in the range of 28 to 33 degrees and summer lasts for more days than United Kingdom or other countries in the northern part of Europe. Winter days are cool but sunny, except brief bouts of cold from November to February. Naturally, many British investors and others from the Norwegian countries are on the lookout for properties in Gascony, Landes, Tarn-et-Garonne, Lot-et-Garonne and Gers.

Rich in Agriculture, Property in Southwest France is in High demand

The Bordeaux-Toulouse districts that form the southwest France area are famous all over the world as the wine region, along with Gascony. The grapes from the vineyards vary in quality and taste, thus providing the opportunity for wine, brandy and champagne of rare varieties. Along with the lush vineyards spread throughout this area, the walnut plantations, the duck farms, the plum orchards and the strawberry fields produce a rich variety of agricultural output. This opulence is enhanced by the truffle, lovingly called as ‘black diamond’ by the master chefs of the world. The limestone plateaus above the river of Lot had become fertile grounds for the growth of truffle. With all these natural resources, it is no surprise that the houses for sale in south west France are hot properties in the real estate market.

Properties for Sale in Southwest France

Land, farms, farmhouses, chateaux, barns, villas, holiday homes, holiday complexes, apartments, gites, gite complexes, golf properties, etc. are available in plenty at reasonable prices and terms. The peculiar French word gite really means a self catering holiday accommodation. Buying a gite is considered a sound business investment nowadays. According to statistics available with real estate agents in this area, a decade ago, majority of buyers were purchasing property in southwest France as holiday property. However, the trend had changed and many of them are moving in here permanently, attracted by the serene atmosphere and leisurely living.

In the departments of southwest France, the property values are much less than the other departments of France, as well as the other countries of Europe. This fact makes investments in south west France an attractive proposal. We have a wide choice of properties for sale in this area. With our experience in the real estate market for several years and our extensive contacts with property owners and estate agents in south west France, we are able to offer our clients unique buying and selling opportunities.

Guide in Purchasing Properties in Southwest France

In the process of purchasing properties in France, all the fees are paid by you as the buyer.

The fees of the property deed registration and solicitor’s fees (notaire’s fees) will be about 10% of the property price.

If you are buying the property through estate agents, then their fees will have to be paid over and above this.

At the time of bidding for a south west France property for sale, you will have to sign an agreement known as promise de vente, which is between you and the property seller.

You will be able to state the reasons for cancellation of the agreement in this document and you can include all the reasons that come to your mind, without any restrictions, including failure to obtain mortgage on the property.

You will have to deposit 10% of the property value and you will lose that amount if you cancel the agreement for any reason that is not specified in it.

If the seller cancels the agreement, you will get 10% from the seller.

Southern France, also called as Le Midi, includes Aquitaine, Corsica, Midi-Pyrenees, Languedoc-Roussillon, Rhone-Alps, Provence-Alpes-Cote d’Azur, Limousin, and Auvergne. Excellent properties are available in plenty at highly attractive prices in all these regions. Property in Gascony and property in Landes are considered as very good real estate investments throughout Europe. We will be able to obtain them for you without any kind of hassles on your part. Call us now for further information and detailed discussions.

As a real estate agent, I have met my fair share of real estate investors. A few have made a lot of money at it. The investors that I’ve met, who have become “rich” in real estate shared one trait in common: They bought property as a long term investment.

Shortly after losing money I couldn’t afford to lose on a fixer/ flipper condo in Phoenix I found a book that totally change how I looked at real estate investing.

That book was called “Buy and Hold” by David, Schumacher, Ph.D His investment philosophy is to buy rental property in the best, growth areas in town, rent them out and hold onto them for the long term (”long term” being 20 years or longer). I won’t go too far into explaining this book, but I will say buy the book and read it.

Think back, what did homes sell for in your area 20 years ago? I bought a house in Denver in 1986 for $85,000. If I had kept it, that house would sell now for $275,000 or more.

I know an investor that lives in Denver, who as he got close to retiring, bought one or two Denver rental properties per year. After he retired, he lived in Phoenix during the winter months and bought one new Phoenix rental each winter. His son lived in Phoenix and managed the Phoenix properties in exchange for half the profits. The last time I talked to the dad (in 1998) he owned 3 homes, 2 triplexes, 3 condos, and a 17 unit apartment building. At that time, the apartment building was providing just under $10,000/month in positive cash flow He had never sold any of the properties. He just kept them fixed up, rented, and enjoyed the income and the winters in Phoenix.

I recently met an older couple who had purchased a home in St. George, Utah for about $20,000 in the late 1970’s. This couple lived in the home for about 6 years and then rented it out until July of 2004. In September, 2004, they put the home up for sale. Their real estate agent sold this home for $200,000. Not a bad return and that doesn’t even count the strong positive cash flow they enjoyed for years.

From my point of view, buying and holding seems to be the safest, surest way to real estate wealth.

One of the most beautiful area on the planet, locations in Australia just never ceases to charm. Having thousands of miles of coastline, and almost entire Australian people living along the seashores, the country is rich in aquatic features and some of the world famous tourist attractions. A vast country-continent, Australia’s immense mainland is virtually uninhabited. Now, the sixth largest country in the world, whose majority of landscape is yet to be developed, has to be a prime target for those looking for property for sale in Australia. With the Queen still the official monarchy of the country, Australia has historic links with the UK, which are strengthening with each passing year.

What Makes Australia a Hot Investment Destination?

Australia mesmerizes property investors from all over the world due to a number of multiple factors. Though weather is the prime driver of demand for Australian property, the country has much more than the pleasant climate and sunshine throughout the year. On the weather front, it’s not the entire country that enjoys great weather throughout the year. For instance, summers can be really scorching in cities, like Melbourne and Perth. Fortunately, the summers don’t last for long and most of Australia is returns to a normal weather pattern fairly quickly.

This huge country has almost everything that a potential property investor is looking for. The natural beauty is magnified by thousands of pristine beaches, and lots of them are favourite jaunts for surfing and other aquatic-sports activities. Nature has also bestowed upon the country a colossal reserve of rainforests, constituting exquisite native flora and fauna. Some of these living beings are exclusive to Australia, and tourists just visit this country every year to have a glimpse of Koalas and Kangaroos, and plethora of other plants and animals.

Australia is one of the hottest emigration destinations partly because of the favourable Sterling exchange rate, and mostly because of the identical English culture, language, and legal and business environment. Australia is a flourishing democracy, largely peaceful, and one of the hubs of global uranium deposits and trade. The thrust towards cleaner energy globally has pushed the demand for uranium at an all-time high, and Australia’s economy is bound to gain from this favourable trend.

The Australian property market offers maximum returns on investment due to a healthy and vibrant living standards offered by the country. The country has no dearth for emigrant jobs. In fact, there is a huge demand for English-speaking Brits in the healthcare as well as the hospitality sector. Besides, banking, retail, IT, accountancy, insurance, welders, plasterers, hairdressers, and agriculture are other areas where the British have an edge over the other hopeful emigrants.

Though Australia seems like possessing all the things that are required for a comfortable lifestyle, it is still one of the least densely populated countries of the world, with just 2 people per square kilometre. The interiors of the country are rich in minerals and forests, and contribute the greatest towards the nation’s booming economy. The aquatic adventure along the coasts in Australia is better identified with The Great Barrier Reef, which is host to some of the most magnificent corals found on the planet.

Hottest Property Investment Locations in AustraliaSince most of the country’s population is settled along the coast, the obvious choice of real estate investment in Australia has to be the major Aussie cities, like Sydney, Melbourne, Brisbane, Perth, Adelaide, and Hobart. Actually, the choice of place has a lot to do with the choice of nature of property to be invested in. For instance, if the rental income is your preference, then the State of Queensland has to be your natural choice, but if you are looking for some agricultural land, then the rural areas along the major cities can be explored.

Though many experts feel that a property boom is on the wane in Australia after hitting peaks in the past couple of years, yet there is no reason why the British property speculator should not look for a wise real estate investment in a country that is projected as the future dream destination purely because of the vast resources at its disposal.

Currently, there is a tremendous demand for residential homes in all the major locations of Australia. In fact, the balance is in favour of demand, meaning thereby that the demand for residential homes in major cities has constantly outstripped the supply of quality homes. Therefore, you can tremendously gain through residential property in all of the major cities, either through rental income or just by short-term trading in these properties.

The current projections are also favourable for investment in commercial property. The rising economy is affording lots of opportunities in the commercial property segment. Many MNCs and other big business houses have already established their shops in major Aussie cities. They are always on the lookout for expansion and a ready commercial property for rent or sale is always in great demand.

Holiday Property along the coast in the form of vacation real estate is also quite popular in Australia. You can look forward to nice vacation stay in these homes whenever you decide to visit Australia, or you can rent it out throughout the year and earn a regular income.

The preferred investment destination for the British investor in present times is in and around Perth in Western Australia, and Darwin in the Northern Territories. The local real estate agents advise these places, as most development is concentrated around these cities, besides, the price of real estate has not quite hit the roof in these destination cities just yet.

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Althought this year (2007) has seen a general slowdown in the overseas property market and especially within the Spanish property sector it still seems that Spain accounts for almost half of the property searches conducted on most of the popular property portals including Property Abroad.com. With an ever increasing number of visitors and second-home investors from all around the world looking at the Spanish property market Spain will never fall out of the popularity charts.

The country has always attracted millions of visitors every year due to its inviting climate and year round sunshine. Spain has some picturesque locales that have lured visitors to explore more of the country on every visit. Additionally, the country has a rich culture and tradition, which is uniquely popular around the globe. Resultantly, a constantly rising demand for every kind of investment property in Spain is evident!

Spain an Investment Opportunity

Spain has been offering excellent property investments opportunities for over 3 decades with foreign investors, particularly the British, finding the Spanish property market immensely lucrative from the investment point of view. Spain is a popular second home destination among Europeans and if you are conversant in Spanish, there is really no better place to invest your hard-earned cash than Spain. You’ll experience some of the best facilities and high standards of living in Spain, which is animportant factor as far as second home buyers are concerned. An estimated half million Europeans have already bought a property in Spain over the past 5 years!

The country’s varied geographical regions have played a quintessential role in determining the future of investment property in Spain. The southern part of the country including the Costas has a vast coastline that offers some of the best beaches in the Mediterranean. The region is particularly acknowledged for its year round sunshine, which has always proved a magnetic for the British.

The snow-capped Pyrenees has been another attraction for visitors keen on the skiing opportunities on offer in Spain. The region bordering Spain and France is a visual delight with rivers, mountains, water-features and forests occupying the attention of onlookers.

Spanish cultural heritage is apparent from its famous food, opera, literature, and Spanish architecture? Spain is well connected with regular cheap flights to and from the country and to and from prominent cities around the world, this makes Spain easy to reach, affordable and quite different from its neighbouring countries.

Spain is also one of the relatively less expensive countries of Europe. This makes the world-class living and working conditions of Spain even more lucrative for anyone looking to relocate to Spain.

Post-1975, Spain has been a successful and thriving democracy with a stable government at the helm, which is committed to attracting all kinds of investments – foreign and domestic – within the country. The plan is to build a culturally rich Spain with a modernistic outlook.

All this makes Spain a perfect spot for a holiday property investment as well as a second home destination.

Types of Investment Property iIn Spain

Spain offers a range of properties, including farmhouses, fincas, traditional houses, mansions, apartments, beachfront properties, villas and golf properties in Spain. The best part is that currently, the real estate market is in a twilight stage, where the prices are neither too low nor too high. An astute investor can easily strike a handsome bargain in Spanish property. According to rough estimates, the average price per square metre in Spain is still about 20-50% below the UK.

Besides the regular constructions, it’s the resort properties that are currently occupying the top of the charts as far as the Spanish real estate sector is concerned. The Polaris World Golf Resorts are, particularly, among the top-notch choices for domestic and overseas investors. You can lay your hands on a Polaris World Golf Suite for as little as £57K.

Obviously, you have to spend a larger sum if your requirements are for a bigger property. For instance, apartments in the golf resort of Desert Springs in Almeria commands a £103K+ price range. Similarly, apartments on the Costa del Sol can fetch upwards of £150K.

The hottest places to invest in Spain include Costa del Sol, Costa Blanca, Costa Brava, Majorca – or Mallorca as its spelled Menorca, Tenerife, Andalucia, Costa Tropical, and the Murcia region (including the Mar Menor lagoon, the Costa Calida and Murcia city).

If you are put off by commanding prices of expensive Spanish property, there is a mortgage option available too. You can easily approach one of the over two hundred local banks that offer different loan options and available mortgage loans to the tune of 70% of the property value under Spanish laws subject to the fulfilment of certain terms and conditions. Barclays Bank in the UK also offer mortgages for property in Spain – see our mortgage page for further details and free information pack on getting mortgages in Spain.

Don’t forget to hire a local solicitor or lawyer or a good real estate agent in Spain order to facilitate the smooth property transfer transaction. Since Spanish is the main language in the country, you may find yourself at a loss trying to decipher the official rigmarole. Therefore, it is always considered vital to hire a local aide in a country where English is a second or third language.

In addition to offering property for sale in different locations in Spain we also have at your disposal a list of other useful tools to help in your decision making when considering buying a property in Spain :

Buyers Guide to Spain – A useful article on the buying process when buying a property in Spain

German Country Guide – A detailed guide to Spain including information on health, economy, business, travel, things to do, excursions and much more

Locations in Spain – A current list of locations that have property for sale in Spain

Airports in Spain – A guide to the main airports in Spain, where they are and how to get there

Attractions in Spain – A list of popular tourist attractions in Spain

Estate Agents in Spain – a directory of estate agents in Spain and a list of real estate agents selling property in Spain

News Articles on Spain – A useful resource for learning about the country, what’s happening and useful information on Spain

German Shopping – A directory of useful resources to assist in your purchase or travel to Bulgaria including; Flights, Accommodations, Car Hire, Mortgages in Spain , Holidays, Lawyers and much more.

Useful Resources – a list of useful resources that you might find of general use

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Hey, check out these auctions: