Formula One tipped to come to doorsteps of Algarve property buyers

Monday, January 26th, 2009
The new race circuit on the Algarve would be ideal for a Formula One Grand Prix, it has been suggested, news that may interest Algarve property investors.

Portugal has not hosted such a race since 1996 but according to the editor of autosprt.com Edd Straw, "an Algarve Grand Prix could be a cracking event".

He said the new Autodromo Internacional do Algarve circuit - where some teams have been testing their cars recently - possesses a range of attractive qualities for a race, such as a number of points where overtaking or braking errors are possible.

Such an event could be good news for Algarve property investors, since it could increase demand for tourism property when the race is on, as well as focusing more attention on the attractions the area has to offer.

Drivers who have spoken in complimentary terms about the new circuit include McLaren test driver Pedro de la Rosa.

He was quoted last month by Autosprint magazine as saying: "It’s a fantastic track, it looks like a roller-coaster," Autosport.com reported.

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Costa del Sol property opportunities hailed

Monday, January 26th, 2009
The Costa del Sol property market is offering the "deals of the century" at present, it has been claimed.

Overseas real estate firm Spanish Hot Property has stated that while the credit crunch normally excludes those without a lot of money from entering the market, the situation has now changed.

It stated that the recent slump in Spanish prices means there is now a supply of "real property bargains in Costa del Sol that is there for everybody to take advantage of", adding that this amounts to "easily the best deals this century" for Costa del Sol property seekers.

Marketing and operations manager Susana Suspenda said the sort of bargains that could be had included an apartment worth €340,000 (£319,000) 12 months ago that is now available for €200,000 and a penthouse that is now on offer for €311,000, down by over €170,000 in a year.

Earlier this month a Homes Overseas poll found that Spain was the destination of choice for 24.9 per cent Britons seeking to buy property overseas.

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Jazzed up for Tuscany property

Friday, January 23rd, 2009
Jazz fans will be able to enjoy the genre when in Tuscany this spring, as the annual Giotto Jazz festival takes place.

Lovers of the musical style can attend concerts in the Florence area between February 14th and April 3rd.

The line up for 2009 includes performances by Roberto Gatto, the Afinidad quartet, Tuck & Patti and the Jeff "Tain" Watts quartet.

Those keen on buying Tuscany property may find the event provides another reason to invest in the area and enjoy its varied attractions.

Florence itself is famous for its renaissance architecture, history and art that has led to it having United Nations world heritage status, while Pisa contains the famous leaning tower.

The tower was in danger of collapse until recently, but a project completed last year saw it partially straightened.

According to engineers working on the tower, it is now safe for another 300 years.

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Festival may w(h)et Orlando property appetite

Friday, January 23rd, 2009
Orlando’s Wetlands Festival takes place in early February, offering those keen on buying Orlando property another reason to visit the city.

Located in the Fort Christmas Historical Park, the event takes place on February 7th from 9AM to 3PM, giving visitors a chance to learn about the habitat and its role in the local ecosystem.

There will be bird watching and the chance to learn how to identify local plants, plus nature photo shoots, all of which could help those who may wish to own Orlando property to familiarise themselves with the fauna and flora of the area.

Visitors with property acquisitions in mind may find the timing of the Wetlands Festival is highly convenient, as it comes on the same weekend that the city hosts a foreclosed property expo.

Held at the International Plaza Resort & Spa, the 2009 Orlando Foreclosures Expo will offer would-be buyers a chance to view a wide range of such property while seeking a bargain to suit them.

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Teeing off for Florida property

Friday, January 23rd, 2009
The Doral Golf Resort and Spa hosts golf’s CA Championship from March 10th to 15th, an event that may interest golf fans investing in Florida property.

Located near Miami, the course will stage the contest for the third year in a row and has historically featured a wide range of top players.

In 2008 the winner was Geoff Ogilvy ahead of a three-way tie for second between Jim Furyk, Retief Goosen and Vijay Singh, while 2007 saw Tiger Woods coming out on top.

Those considering investing in Florida property may find that in addition to being able to watch top-class golf they can pick up some good bargains.

A recent Daily Telegraph feature quoted Miami-based property developer Charlie Patel stating that buyers can get "great value" in the market, adding: "I think bricks and mortar make the best investment you can have in the long term."

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Expert advises Canary Islands property buyers to take good advice

Thursday, January 22nd, 2009
Good advice is the key to successful investment in property in Spain, an expert has said, comments that will apply to the Canary Islands property sector.

Tax partner with chartered accountant Campbell Dallas Bruce Wilson said that the most important consideration for those who invest in the country is to "get very good local advice and do your research".

He explained that this is important because the country has different laws, systems and customers by which it governs property matters.

People should also be clear in their own minds about their reasons for buying, such as if the move is being undertaken for investment purposes, Mr Wilson added.

Those purchasing Canary Islands property for investment purposes may want to do so in a popular tourist area so they can rent it out to holidaymakers, such as the Costa Adeje on Tenerife.

In a Daily Telegraph feature this week, newsreader Huw Edwards said that this area is his favourite holiday location.

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California property offering more bargains

Thursday, January 22nd, 2009
Southern California property prices dropped by more than a third in 2008, new figures have revealed.

The latest study by MDA DataQuick revealed that in that part of the state the median price in December was $278,000, (£200,000) compared with $425,000 in December 2007, representing a drop of 34.6 per cent.

Such a fall in price may interest those seeking California property bargains in the southern part of the state.

MDA DataQuick also revealed that foreclosed property accounted for an increasing share of the resales market, representing 55.7 per cent of such transactions in December, compared with 24.3 per cent a year earlier.

This may suggest that those seeking the best price for a California property are finding it in the repossessed homes sector.

Last month RBS Greenwich Capital analyst Michelle Girard noted that the state has recently been bucking the trend that has seen property transactions falling in the US, Reuters reported.

She put the increasing sales activity in California down to buyers "taking advantage of substantially discounted prices".

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Brittany property buyers may consider budget market

Thursday, January 22nd, 2009
Britons wanting to holiday in France this year have been given a series of top tips on how to save money on accommodation, something that may be worth noting by those keen on buying Brittany property.

Daily Telegraph travel writer Fred Mawer wrote that those keen to keep their costs down due to the credit crunch and the exchange rate could look for a number of cheaper accommodation options.

Mr Mawer suggested that those who book accommodation such as cottages in France could save money by booking direct with the owners and seeking places with less amenities, such as those without a swimming pool.

Those investing in Brittany property may wish to pitch themselves to this market by buying simple, basic accommodation rather than upmarket properties with a wide range of facilities.

Earlier this month, the same paper suggested holidaymakers on a budget could save money using the Dover to Calais ferry service, a method of travel that would suit those visiting the north-west of France.

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Portugal property tipped to remain strong

Wednesday, January 21st, 2009
The Portugal property market is in a solid state and is set to remain so, it has been suggested.

Property portal Homes Worldwide has said the market in the country is showing signs of holding up well, citing the Quintas de Obidos resort on the Silver Coast as an example of a development that is still growing.

It quoted managing director of the project Miguel Abreu, who said the country’s prices are remaining steady

He added: "In fact our prices have increased 16 per cent since we began work on the site in 2007, and they are set to increase again in the next few months."

Mr Abreu said one key feature of the Portugal property scene is that planning regulations prevent over-development.

Last week the Times said that northern Portugal is one particularly favourable area for overseas investment.

It pinpointed the Silver Coast and Lisbon as the places to find the best homes.

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Florida property situation hailed as big investor opportunity

Wednesday, January 21st, 2009
Florida is offering property investors some "fabulous" opportunities due to the large-scale availability of foreclosed property at low prices, it has been stated.

Those looking to obtain foreclosed Florida property would normally need to find specialist dealers in order to process a transaction, but now simply need to sign up to the forthcoming expo in Orlando next month, Shelter Offshore has said.

The portal added that despite the recent property problems, the tourist appeal of the state remains and because of this investors are still "ploughing" money into golf courses and tourism facilities, which it said could benefit buy-to-let investors.

Referring to the Orlando expo earlier this month, director of Property Abroad Les Calvert said one contact in the area had managed to obtain a villa in the area for $64,000 (£46,000).

He described this as "an absolutely incredible bargain by anyone’s standards".

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