High house prices drive FTBs overseas

High house prices and economic problems in the UK are leading to many first-time buyers (FTBs) looking abroad, a study has found.

Fair Investment Company revealed that nearly one in ten FTBs have already bought their first property overseas, while 44 per cent of thinking of doing so.

The firm highlighted a number of reasons for people choosing to look away from home, such as the impact of the credit crunch on the British housing market.

However, issues including the availability of property in the UK and the effect this has had on prices were flagged up as other factors behind this trend.

James Caldwell, director of Fair Investment Company, commented: “Overseas they can sometimes find cheaper property prices and a lower cost of living.”

He added that this could make a first home more affordable, while still enabling people to enjoy a high quality of life.

According to Paul Collins of the BuyAssociation website, high-growth markets are proving to be very popular with this group because house prices are increasing at a fast pace.

This means that people can buy property while it is still relatively cheap and sell it on at a later date for a much higher amount.

Growing tourism boosts Spanish investment potential

Interest in the Spanish property market could be boosted by new figures which indicate increased visitor numbers.

According to government statistics, the country attracted 6.2 million leisure travellers from abroad during January and February 2008.

This is nearly four per cent higher than the amount recorded a year earlier, which means the country is attracting more and more winter holidaymakers.

About 1.6 million visitors during this period were found to be British, although Spain also attracted lots of visitors from other parts of Europe.

This will be a positive development for people who are affiliated with the tourism industry, such as overseas property investors who own rental accommodation.

According to Nicola Christie of NuBricks.com, the country is likely to attract renewed interest from foreign property buyers over the next few years.

Commenting on the market, she predicted that the launch of high-speed rail links across Spain would open up previously untapped areas and create new investment opportunities.

UK buyers enter Turkish market

Turkey’s natural beauty is proving to be a constant attraction for property buyers from the UK, an expert has stated.

John Howell, a partner at the International Law Partnership, described Turkey as a “beautiful and interesting” country that can be easily reached.

As a result, it has become a hotspot of activity for foreign property buyers in Britain, including those who want a holiday home for personal use and people who are buying for investment purposes.

The country’s appeal was said to be wider still when Mr Howell highlighted its popularity among British expatriates, including older people who want to live abroad full-time.

He commented: “You can live very well in Turkey on your state retirement pension, which many people find difficult in the UK.”

Mr Howell added that people are choosing to live there permanently because “they love the place” and it is relatively cheap.

This comes after Foreign Property Buyer predicted that demand for temporary lodgings in Turkey will go up significantly as a result of government efforts to attract more visitors.

Expatriates get lifestyle and financial benefits

Britons who move abroad full-time could reap lifestyle and monetary rewards, experts have stated.

According to Foreign Currency Direct, buying a property abroad is an “excellent investment” that can also enable people to enjoy a better quality of life.

Speaking to the Daily Express, chief executive Peter Ellis said that moving abroad would be a “great opportunity” for those who want to improve their lifestyle.

However, he recommended that people consider practical issues before packing their bags and buying a home.

Mr Ellis commented: “We would urge Britons looking to relocate to research the local amenities and resources of their chosen destination thoroughly.”

This comes after research by Alliance & Leicester identified the main reasons for Britons opting to move abroad.

The weather was found to be a key motivation for 40 per cent of expats, while one in five people said they left because they were worried about rising crime in the UK.

Cyprus tourism set to grow

Owners of rental accommodation in Cyprus could be set to see greater demand in the next 12 months.

The Cyprus Tourism Organisation is stepping up efforts to market the Mediterranean island overseas with a new advertising campaign.

Cypriot tennis star Marcos Baghdatis will front the marketing drive, which will encompass various media including television, newspapers and billboards.

The campaign will focus on promoting the island’s main attractions, such as its beaches and good weather, to consumers in places such as the UK.

Britons accounted for more than a million of the tourists travelling to Cyprus last year, making it a potentially lucrative market for tourism officials to exploit.

The campaign could also prove to be beneficial for owners of rental property in Cyprus, as increased demand for temporary lodgings would put them in line to collect higher returns.

This comes after the Financial Mirror quoted Cypriot president Tassos Papadopoulos as saying that he wants to increase efforts to promote the country as a holiday destination abroad.

World’s Best Ranked Tourism Industries

As a property investor, one of your concerns when choosing the right country to invest in should be its ability to provide a conducive environment from which to generate profits in the future.  A major consideration is often the country’s tourism industry.

The World Economic Forum (WEF) recently released its 2008 Travel & Tourism Competitiveness Report. Why should this report matter to you, the individual who wants to see positive cash flow returns from your property investment? Because it measures the success of tourism industries in countries around the world, putting a special emphasis on economic development and environmental sustainability. Tourists equal demand for holiday rentals; therefore, a healthy tourism environment equals higher returns from your holiday rentals.

The WEF ranks over 130 countries worldwide in an overall index, taking the average from the three sub-index categories to form an “Overall Index”:

• Travel and Tourism Regulatory Framework
• Travel and Tourism Business Environment and Infrastructure
• Travel and Tourism Human, Cultural, and Natural Resources

The winners of the Overall Index may come as a surprise to more than a few: The top three countries here are Switzerland, Austria and Germany. These European kings are swiftly followed by destinations that may seem more familiar to us all: Australia, Spain, the United Kingdom and the United States.

However, the Overall Index proves to be more involved when you look at it in depth. Yes, travel and tourism in Australia and Spain rank amongst the Top 5 most competitive countries, but if your concern is the Regulatory Framework category, try somewhere else as Australia ranks 30th and Spain 28th.  However, both nations perform outstandingly well in the category of Human, Cultural and Natural Resources rankings, coming in at 1st and 4th accordingly.

Other countries that we see coming out on top are Sweden, Canada and Iceland, surprisingly defeating tourism veterans such as Italy or Barbados.

Should we compare WEF’s 2008 report to the “Emerging Trends in Real Estate Europe 2008”, published by the Urban Land Institute (ULI) and Pricewaterhouse Coopers (PwC), we see some interesting coincidences: the report lists the “Top 10 European Investment Prospects”, amongst which we find many German cities: Hamburg (3rd ) , Munich (4th ), Frankfurt (7th ) and Berlin (9th ).

Likewise, other countries listed in the top 10 WEF Competitiveness Index report such as Sweden or France also find their cities listed as ideal investments by the ULI and PwC, for example Paris (5th), Lyon (6th) and Stockholm (8th).

Sara Romera, analyst at Propertyshowrooms.com, explains: “Spain continues to be the country that generates most interest amongst users. So far, in the first quarter of 2008, we have seen over 60,000 unique visitors viewing our Spain pages. With the many benefits the country continues to provide the property investor, it doesn’t surprise me to see it rank so well in the WEF Competitiveness Index.”

The Results:

Top 10 Travel & Tourism Competitiveness Index 2008 – World Economic Forum (WEF):

1. Switzerland
2. Austria
3. Germany
4. Australia
5. Spain
6. United Kingdom
7. United States
8. Sweden
9. Canada
10. France

Top 10 European investment prospects – Emerging Trends in Real Estate Europe 2008 – the Urban Land Institute (ULI) and Pricewaterhouse Coopers (PwC):

1. Moscow
2. Istanbul
3. Hamburg
4. Munich
5. Paris
6. Lyon
7. Frankfurt
8. Stockholm
9. Berlin
10. Helsinki

Propertyshowrooms Launches Inspection trips to Turkey

Propertyshowrooms.com this week launches its very own Inspection Trip Department, initially offering our clients the opportunity to fly on one of our inspection trips to Turkey and stay for up to 7 days in quality accommodation for the amazing price of only £99! Not only is this great value for money, but often fully refundable if you go on to purchase property on one of the many stunning developments to be seen.

In addition to this, on many of the featured developments, you have the comfort of knowing that the developer has a rental management facility in place, ready to look after all aspects of running and maintaining a successful rental property.

For a long time now IPIN (International Property Investment Network, the property investment arm of Propertyshowrooms.com) have led the way in presenting some of the safest and most lucrative investment projects around the world. Although IPIN has helped many people to buy their dream holiday home, the main focus of IPIN is to secure effective investment opportunities for its members, whether it be ‘sun sea and sand’ projects, land investment, city centre development or even investment syndicates.

IPIN has always been focused on specific investments of this nature in various locations. As a result, inspection trips to far-off places have never been a relevant requirement of the standard member. This is where we come in!

We are very proud to unveil our new inspection trip service. We believe we have negotiated some of the most competitive rates available on some of the very best projects, from some of the most noteworthy and respected developers in Turkey. We have achieved this by hand-picking the developers and projects that we wish to promote so that we can guarantee the highest levels of customer service and satisfaction.

Future inspection trips to some of the most popular overseas property markets around the world are already being prepared, but we are pleased to offer Turkey as our first destination! You can view a wide range of property, including anything from 1 bedroom apartments, all the way up to a 5 bedroom villa on your own private island!

We cover a broad selection of popular Turkish tourist hotspots on which to focus your efforts, including Uzumlu, Dalaman, Bodrum, Kusadasi and Fethiye, as opposed to other companies, who, in many cases, tend to concentrate on their own specific regions.

There is something for everyone on our tailored inspection tours. From resorts with every imaginable facility, to standalone rustic properties in your own secluded wilderness!

Whether the aim of your tour is to find an idyllic holiday home or just a cost-effective investment property, we have it covered. You will have between 3 days and a week to view the amazing Turkish coastline and find the perfect property for you, with no pressure from your tour guide. The best decisions are made in a relaxed environment and this personal and tailored service will no doubt help you feel at ease with what can be a daunting and confusing process.

For further information on our inspection tours and how to start arrangements, please click the link below to make your online enquiry today!

Inspection trips to Turkey

Britons set to take city breaks

Rental investors in major European cities could be set to see high occupancy rates this weekend.

According to the Association of British Travel Agents (ABTA), about two million Britons plan to enjoy their time off at Easter by heading to places such as Spain.

The organisation has said that city breaks are proving to be especially popular holiday options for leisure travellers this year.

Paris was highlighted as one particular favourite among this group, along with Barcelona, Venice and Rome.

This means that owners of temporary lodgings in these cities could be set to receive healthy returns over the weekend, especially if their property is aimed at the tourist market.

The popularity of traditional European markets with British holidaymakers has long been credited with helping attract property investors in Italy.

According to figures from Holiday-Rentals, about 90 per cent of overseas properties owned by British investors are located within the EU.

Pisa offers ‘diverse attractions’

The Italian town of Pisa could be a good place to visit because it offers a variety of attractions, according to an official in the travel industry.

David Osborne, general manager of easyJet in the UK, stated that the region has far more to offer than just its “legendary” leaning tower and “something for everyone”.

He commented: “Pisa is a perfect gateway to the stunning region of Tuscany and the nearby city of Florence.”

Mr Osborne was speaking after easyJet began operating direct flights to the area from London Luton Airport.

The flights, which launched this week, look set to attract lots of additional visitors to Tuscany and generate extra interest in the region.

This could enhance the desirability of the region among overseas property investors, particularly if there is a sharp surge in rental demand.

Italy’s appeal to foreign property buyers was recently highlighted by NuWire Investor, which said demand for accommodation in popular tourist spots makes it a particularly good investment.

Retirees look abroad for active lifestyle

Britons who are retiring this year are not content to sit at home and relax, according to new research.

A survey of people nearing the end of their working life found they had a number of ambitions that they wanted to pursue as soon as they begin their retirement.

For example, 19 per cent expressed a desire to move to a new area as soon as they come out of paid employment.

However, many were found to be willing to look beyond England and the rest of the UK, as 52 per cent said they want to move abroad.

Gary Shaughnessy from Prudential commented: “Those retiring today are likely to be able to enjoy far more active lives through their pensionable years than any previous generation.”

He added that this was partly due to improvements in medical science and healthcare, which has in turn resulted in people living longer.

According to a recent poll by NatWest, nine out of ten British expatriates are financially better off since relocating abroad.