Welcome to the latest round-up of news and views – and don’t forget to read those IPA and UKPA PDF newsletters over to the right…
Agent Jerry Barker, talking to A Place In The Sun, says that confidence is returning to Florida. ‘There hasn’t been any significant building or real investment in the holiday property market since 2006 and this has supported a steady rental income for the owners of second homes around Disney and the theme parks. However, the developers returned to Orlando in 2013 and they are building new style resorts which are going to change the long-term vacation rental market.’
‘These new style plans include multi-million dollar water parks, bigger club houses, more leisure facilities and on site attractions all of which will be highly attractive to the 50 million plus holidaymakers who make the annual pilgrimage to Orlando. When it comes to the holiday home market you have to move with the times’
‘The new developments are in the same catchment area as the current villas but they have the trump card of more facilities and new furnishings. They are going to be tough competition for existing rental owners. They will draw business away and drive rental prices down in older properties as owners compete.’ Looking to invest in these units? Email back – a sufficient show of hands will secure a long article-short report and, possibly, a heavily subsidised visit. email@example.com
Richard Way, Editor at The Overseas Guides Company, offers a heads up for would-be buyers in Spain, ‘It’s the turn of the British buyer to return to the overseas market in force – especially as the pound is expected to maintain and possibly gain value in coming months against the euro. Average property prices are expected to bottom out in Spain this year, but don’t expect growth to necessarily follow, as Spain’s depressed economy and oversupply of housing stock will hinder any upward pressure.’
‘That said, in the most sought-after areas of the Costa del Sol, Costa Blanca, Murcia, Costa Brava and Mallorca, prices have already stopped falling and in some cases are rising year-on-year. Buyers should have realistic expectations and recognise that market conditions have been built into many prices, so there is little point expecting to have an offer that is, for example, 30 per cent below the asking price accepted on a prime property.’ Well said!
Isn’t it time you bagged a BMV bargain in Spain? Read on…
3 x NEW Spanish properties have just become available for purchase on a unique NO deposit, NO credit check, NO mortgage payment plans.
How It Works
We have included the below bullet points to give more information and an overview of how this process works, the costs etc.
How do these deals work? Much like a lease agreement you would get from a garage on a new or used car, you would first agree a price and term. You would then pay the agreed monthly payment over the agreed term and at the end of the term you own the car. It’s almost identical. The main benefits are you don’t need to put a deposit down and don’t need to pass a credit check.
What are the main benefits? – Apart form NO credit check and NO deposit, you agree and secure a price at the front end. This means that you will benefit from all capital appreciation over the term. Not only will you be paying the agreed loan off, but unlike a car, the asset is actually an appreciating one! The market appears to be at or towards the bottom and is on the rise again in some places!
What if I do not keep up repayments? The current owner keep the property in his/her name and the contract becomes void and you lose all monthly payments made to that date.
What are the fees? The fees vary dependent on the deal, but generally are circa £5,000 – £7,500 per deal.
What other fees are there to pay? The only other fees to pay are the legal fees to the solicitor who is drawing up the legal agreement between the owner and you. These are circa £700 per deal and we will always use a solicitor based in the country the property is in (for obvious reasons)
Mar De Crystal, Ribera Beach
Anyone can buy
No mortgage needed
All you pay are fees and legals
Monthly mortgage payments £422/507 euros
7 year mortgage / term
Fully furnished apartment
Located in Mar de Cristal on the Mar Menor Sea. The apartment comprises two, good-sized bedrooms with built-in wardrobes, one bathroom, fully equipped kitchen with separate utility area and a spacious lounge/diner. The kitchen is equipped with all modern appliances which include ceramic hob, oven, fridge/freezer, microwave and washing machine. The apartment also has air conditioning and a good size balcony. The complex has a good sized communal pool with children’s pool and is just a short walk to the blue flag beaches of the Mar Menor.
Beach: beautiful fine sandy beaches.
Promenade: long palm tree lined beach front.
Town centre: small and very Spanish with narrow streets.
Market: large Wednesday morning.
Boat Trip: B&F Ferry operates all year round across to the La Manga Strip.
4 bedrooms, 4 bathrooms
No mortgage required
Anyone can buy
15 year payment plan
250,000 euros over 10 years
1388 Euros per month
This huge villa was built by the owner with the concept that all the rooms would be of extremely large proportions and the bedrooms would all lead to/from the dining room (6 metres x 6metres) and that all the bedrooms would be of roughly equal size (4 metres x 4 metres) and all have en-suites. The kitchen also leads of the dining room and is fully fitted with pine doors to the units The lounge is on the first floor and is the same size as the dining room. The dinng room and master bedroom have double doors that lead into the roofed porch which in turn leads to a tiled patio. Views down the valley to the pueblo of Albanchez are exceptional. Stands in 8,000 square metres.
Villanueva de San Juan
5 bedrooms (3 en-suite)
Swimming pool and garden
£180,000 spread over 10 years
£1,500 per month
Anyone can buy
No mortgage needed
Many uses, why not set up a B+B?
300 days of sunshine
Large living room with wood burning stove, large kitchen/ dining with original beams. Five bedrooms (three en-suite) with original beams, large bathroom. Gorgeous garden with swimming pool and stable block. This beautiful townhouse is situated in the lovely village of Villanueva de San Juan (pop. 1400) in the Sierra Sur – one of the most beautiful areas in Spain and already attracting walkers, nature lovers etc. It is also centrally situated on the Malaga/Seville/Cadiz borders with easy access to the cities of Seville, Malaga, Cadiz, Granada, Cordoba, Osuna, Moron de la Frontera, Olvera, Antequera and magnificent Ronda – most roughly within one hour drive The house itself sits in a small attractive square 100 yards from the centre of the village. It is an ideal family house, 200 years old and has been beautifully restored.
Email for details and/or to ‘go on the list’ for future introductions. firstname.lastname@example.org
France’s national association of estate agents has issued its annual review of the property market there and reports that sales and prices fell through 2013; prices outside of Paris, for example, fell by some 3 per cent. The biggest falls in prices were seen in Franche-Comté (-6 per cent), Brittany (-5.7 per cent) and Languedoc-Roussillon (-5.3 per cent). Price risers? Look at Aquitaine (+0.2 per cent) and Nord Pas-de-Calais (+0.1 per cent). In summary? ‘Neither buyers nor seller had an appetite to enter the market, with a weakness in both the number of properties being offered for sale and in the level of demand.’
A recent report by the notaires reveals the most popular areas with international buyers. The department with the highest proportion of non-resident buyers is the Alpes-Maritimes (12 per cent), followed by the Creuse (11 per cent) and Dordogne (10 per cent). Some 70 per cent of foreign buyers already live in France and more than 30 per cent of non-resident buyers are French expatriates. Overall, for 2009-2013, non-resident foreigners accounted for some 2 per cent of buyers. Food for thought.
All for now, other than to remind you that we have a free seminar – Investing In Brazil – in London on the evening of 20 March. Do email back for more information!