Costa Blanca gears up for yacht race

Thursday, September 25th, 2008
The Costa Blanca is gearing up for one of the biggest events on the yachting calendar as Alicante prepares for the start of the Volvo Ocean Race.

Although the round-the-world event does not start until October 11th, the atmosphere is already bubbling up as competitors and fans are able to mingle freely at the race village in the city, the events website notes.

Last weekend 11,000 people visited the village and over a million are expected to come before the race starts, according to the head of the Alicante organising committee Nicolas Figueras.

Such an event may help enhance Alicante’s status as a sailing centre, attracting more tourists and in turn potentially providing more custom for rental holiday homes that Costa Blanca property investors have bought.

The lead up to the race is officially due to start today when the daughters of Spain’s King Juan Carlos launch two yachts at the port, La Manga Spain reports.

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Tenerife in water them park boost

Wednesday, September 24th, 2008
In news that may interest those seeking Canary Islands property, Tenerife has just opened a new attraction that could help boost tourist numbers.

Siam Park is a Thai-themed water park which is the biggest of its kind in Europe.

Rides include the Tower of Power - which sends riders hurtling down a near-vertical drop past a tank full of Mississippi alligators - as well as the Mekong Rapids and the Dragon, all of which could help attract many more families to the island.

Such a situation could boost those looking to rent out holiday properties to visitors.

Earlier this week Tenerife was pinpointed by business website Global edge as being the most popular location in Spain for overseas property buyers on the basis of Google searches.

It found that of the 60,000 searches for people looking to buy in Spain, 13,000 were centred on the island.

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New details of Florida eco city unveiled

Wednesday, September 24th, 2008
More details have been revealed of plans for an eco city in Florida, something that may interest those keen to invest in property in the USA.

The city of Destiny, to be built in Osceola County, will use water as a way of containing urban sprawl and a means of providing transportation under plans to be unveiled today, reports the Orlando Sentinel.

Built across 41,300 acres, the city will have a large number of navigable waterways and is planned to expand to hold as many as 250,000 residents 50 years from now.

There will also be cycleways, a floating market and hiking paths.

Such a development may particularly interest those keen on investing in environmentally friendly property.

Last month it was revealed that among the plans for Destiny will be the inclusion of an energy farm.

This will showcase the latest techniques for producing energy crops such as sweet sorghum, algae and jatropha, Marketwatch reported.

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Vendee ‘growing as tourist area’

Wednesday, September 24th, 2008
In news that may interest those keen on investing in French property, the Vendee has established itself as one of the top tourist areas in France, it has been stated.

Located on the Atlantic seaboard, the area offers castles, abbeys, golf, sailing, cycling and islands to explore, French property firmVEF has stated.

Noting that this makes the area the second most visited tourist destination in the country, the site said it enjoys "excellent returns" on property investment, with some investors enjoying up to 24 weeks of lettings.

According to the Vendee Tourism website, one of the highlights of the Vendee calendar is the Vendee Globe, a round the world yacht race held every four years which starts and ends at the port.

Famous competitors in the race include Briton Ellen MacArthur, who became the fastest female competitor in the event in 2001.

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Importance of French inheritance laws highlighted

Tuesday, September 23rd, 2008
People opting to relocate to France should pay extra special attention to the issues of French inheritance law, claims a leading organisation.

Blevin Franks, a UK and worldwide tax advisory service, has pointed out that inheritance law is probably the "most important issue" to take into account for thos investing in French property.

French inheritance law limits the ability of individuals to decide to whom and how they bequeath their assets and inheritance tax can also be up to 60 per cent.

Peter Horn, senior advisor at Blevins Franks, said that "for many individuals - a married couple without children or with children from that marriage - the situation can be quite straightforward."

Complications arise when individuals are not married or there are children outside the marriage, he added.

According to independent financial advisors Siddalls, France was ranked the third best place for British people to retire with property prices around 50 per cent of UK averages.

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Istanbul is ‘best investment in Europe’

Monday, September 22nd, 2008
Istanbul is being hailed as the best European hotspot for investment after property investors saw a 42 per cent growth since February 2007.

It has been named the best performing location in Europe by PricewaterhouseCoopers and the Urban Land Institute, according to Hot Property Turkey.

Supply and demand, population growth and availability of finances are being given as reasons for the healthy investment climate there.

Istanbul suffers from severe population congestion and many new suburbs are being built to cope with the demand, the website stated.

It added that there are also new transport routes being developed to join the suburbs to the city centre, while some of these developments have guaranteed price increases of 35 per cent or more.

In related news, those buying property in Bodrum have been said to have no worries about healthcare.

Dominic Whiting, editor of the Buying in Turkey property guide, told Property Wire that the quality of care there "is equal and in many cases far superior to that available in the UK".

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Spanish hotspots outlined

Monday, September 22nd, 2008
Tenerife is the top location for Spain property, according to new research.

A study by independent overseas property business portal Globaledge has revealed the most searched-for property destinations within Spain by internet users and overseas property buyers.

Tenerife topped the list at 15.3 per cent of all searches within the top 20.

It was followed by Mallorca, which gathered 6.9 per cent of the total in July.

Specifically, the Tenerife resort of Los Cristianos made the top 20 on its own, coming in at 13th.

The Canary Islands were more popular in the searches than Costa Blanca property and Costa del Sol property, the website said.

Ashley Rigg, managing director of globaledge.co.uk, remarked: "It proves overseas buyers are increasingly looking beyond the traditional coastal resorts of old."

In related news, Russians are reportedly becoming increasingly interested in Spanish property as the stock market in the former country weakens.

Hadleigh Bolt of Spain’s Bolt Property Group said there has been a rise in the number of Russian nationals inquiring about bespoke properties.

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New York ’seeing more green roofs’

Friday, September 19th, 2008
Those who are keen on investing in New York property but want to be as green as possible may be able to enjoy the best of both worlds, it has been reported.

A survey by Green Roofs for Healthy Cities, a non-profit group based in Toronto, has found that New York is among the US cities where the practice of putting green roofs on buildings is growing fastest, the Chicago Tribune reports.

Such roofs are covered in plants such as water-absorbent sedum, helping to reduce the effects of urban heat-trapping and capturing water to reduce storm water run-off.

Green Roofs for Healthy Cities said that there has been a 30 per cent increase in such roofs in the past year.

While the majority of these have been civic or commercial buildings, they are also appearing on private homes, with a new tax incentive pilot scheme launched by New York state governor David Paterson aimed at increasing the use of these roofs in the state and the city.

The popularity of buying property in New York for Britons was emphasised this week by Royce Pinkwater, senior vice president at Sotheby’s International Realty.

He told Forbes: "The Brits are among our top buyers in New York."

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Porto ‘good for rental’

Friday, September 19th, 2008
The city of Porto in northern Portugal is a good one for rental property, it has been stated.

Writing for Nubricks.com, John Moore of the Move Channel said the city is both a major port and industrial city on the one hand and at the same time a popular tourist destination, famous for Port wine.

He stated: "In addition to its tourism trade, Porto attracts many foreigners for business and educational reasons, making it a good location for rentals on a long term basis."

In a trend that may interest those keen on investing in Portugal, property prices have been coming down in Porto and elsewhere, partly as a result of there being fewer English buyers in the credit crunch.

Mr Moore said this has been the case in Porto and Portugal Resident reports that a survey by real estate newsletter Confidencial Imobiliario has found that this situation also applies to Algarve property, although the region’s property prices remain higher than elsewhere in Portugal.

Such a situation may mean investors can find more bargains in Portugal.

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Run for it in New York

Thursday, September 18th, 2008
In the city that never sleeps those buying a property can get close up to people who hardly ever stop running.

Every November one of the most prestigious road races in the world - the New York Marathon - takes place.

Held in November, the race route is deliberately designed to include all five boroughs of the Big Apple, with Manhattan seeing the climax as the race ends in Central Park.

Those buying New York property can enjoy watching world class racers and thousands of fun runners in action, or even join in themselves.

In addition to the race, New York offers a huge variety of attractions and things to do, from Broadway Musicals to major sporting events at Madison Square Gardens.

An additional feature of the city and its surrounding state is its low crime rate, with a new FBI report hailing New York the safest large state in the country and the fourth safest overall.

The state has seen 17 successive annual declines in criminal behaviour, the study found, mainly caused by a reduction in crime in the city itself.

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