Costa del Sol Property buyers advised how to find right price

Tuesday, February 24th, 2009
Three key factors need to be assessed to find the right price for a home in Spain, Spanish property portal Kyero.com has stated.

In advice that may help Costa del Sol property buyers to pay the right amount, the site said that the floor area, the last purchase date and the price paid at that time all needed to be known to arrive at an accurate figure.

It noted that the vendor should be able to reveal the price details, while once the floor area is known a study of the highest and lowest price range figures from the Idealista, Fotocasa and the Ministry of Housing property indexes will help calculate the price.

Such measures could help Costa del Sol property buyers approach their purchase with a clearer idea of how much they will pay.

Those looking to the region can enjoy very different locations according to their taste, the Daily Mirror has suggested.

The paper has said Malaga, Nerja and Granada each offer varying attributes in terms of history, culture, nightlife, beaches and atmosphere.

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Tuscany property tops Italian buyer interest list

Monday, February 23rd, 2009
The Tuscany property scene is the most popular of any region in Italy, a new study has revealed

In its latest findings the Italymag.co.uk property index, which analyses adverts placed in the magazine, revealed that out of the 11,000 homes studied nearly a fifth (19.8 per cent) were in Tuscany, more than any other region.

It noted that many of these properties were large and expensive, including medieval townhouses or villas, but there were also a number of bargains.

These included properties such as small barns in need of restoration, which could be had for as little as €30,000 (£26,700).

Many Tuscany property buyers may be attracted to the region by its cultural traditions.

Events highlighting the regions’ heritage include the Balestro del Girifalco, an annual crossbow competition in Siena where different districts of the city compete against each other for a decorated banner and the best archer wins a golden arrow.

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Canary Islands property may get airline bargain boost

Monday, February 23rd, 2009
A low cost airline has announced a sale of cheap airfares to all its destinations, something that could boost the Canary Islands property scene.

The new sale of flights by Monarch Airlines has seen it trim 20 per cent off flights to all the locations it serves, provided they are bought by February 24th.

Places to which the budget operator flies include the Canary Islands of Lanzarote and Tenerife.

Such a move by the airline may help encourage more people to fly to these locations, which in turn could bolster the Canary Islands property scene by introducing more people to its attractions.

Another good reason for some to head to the Canary Islands now is its year-round golf facilities, Hotel Seoul Korea has suggested.

It has described Gran Canaria as a "fantastic winter golf destination" with five courses, while Tenerife offers six different venues.

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Lender in 100% mortgage boost for Normandy property buyers

Monday, February 23rd, 2009
A lender operating in the French market has launched a 100 per cent mortgage product for overseas buyers, a move that could boost those keen on buying Normandy property.

French Mortgage Direct is offering the deals to those purchasing homes anywhere in the country, with rates starting at 5.3 per cent on a 15-year fixed-rate basis.

Director of the firm Sharon Hill said this is good news for buyers whose plans to acquire a home in France have been affected by the weak pound, which has made saving for a deposit in euros costlier.

She remarked: "A 100 per cent mortgage will go a long way to help enable the purchase of a French property and could help dreams come true."

Normandy property buyers may be among those looking to take up the offer.

Another factor that could help lower costs for those seeking euro mortgages in Normandy and elsewhere is the recent trend for the European Central Bank to cut interest rates.

The most recent trimming was a 0.5 per cent reduction announced last month, which lowered the main refinancing rate to two per cent.

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Obama plan expected to impact foreclosures in property USA market

Friday, February 20th, 2009
Barack Obama’s new plan to help homeowners may bring about a significant reduction in the number of Foreclosures in the property USA market, it has been predicted.

The president has announced a $75 billion (£52 billion) package aimed at getting mortgage providers to help those close to losing their homes and to assist people with negative equity to refinance.

Such measures are intended to aid as many as nine million households.

President Obama said: "In the end, all of us are paying a price for this home mortgage crisis and all of us will pay an even steeper price if we allow this crisis to deepen."

The situation could mean that those keen on snapping up a foreclosed bargain should move quickly, as the supply of such properties could diminish if the measures are successful.

Recent figures from analysts RealtyTrac showed that in January 274,000 US properties were foreclosed or had notices served on them.

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Algarve property seekers advised of safe prospects

Friday, February 20th, 2009
Portuguese real estate represents a sound long-term investment, an expert has stated, news which may interest those keen on buying Algarve property.

Head of overseas at Rightmove.co.uk Rob Wilson said of the country: "It remains popular for its access to both Atlantic and Mediterranean beaches, old world Mediterranean charm and easy travel from the UK, so should be a relatively safe bet for long-term investment," adding that both the similarities with and differences to Spain attract purchasers.

Such considerations may attract those who are interested in Algarve property and wish to build up a nest egg with longer term potential.

Mr Wilson noted that there are over 50,000 searches on Portugal on the company’s website every month.

The most popular region in February was the Central Algarve, where there were 6,641 searches in the month.

Second and third were the Western and Eastern Algarve regions, with 5,020 and 4,567 hits respectively.

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Laying down the law on Brittany property

Friday, February 20th, 2009
The patron saint of lawyers has his life and times remembered in one of Brittany’s annual festivals, which takes place in the town of Treguier every May.

Le Pardon de Saint Yves sees a large procession marching through the streets of the town, with pilgrims from the legal profession and courts getting dressed up for the occasion and a large mass held at the end.

The parade marks a tradition going back centuries and may offer an interesting insight into Breton life and culture for those keen on buying Brittany property and possibly living in the area.

Visitors to Treguier may also find a number of other attractions to interest them throughout the year, such as the cathedral with its towering spire and the statue of the philosopher Ernest Renan, a native of the town.

Treguier lies close to the channel coast of Brittany.

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Overseas investors looking at New York property, says expert

Thursday, February 19th, 2009
Upstate New York property is increasingly popular with investors looking to the US, an expert has commented.

Director of Mayfair International Realty Annette Reeve said that while Florida in general - particularly Orlando - is the most popular location for British buyers, the New York property scene is offering attractive alternatives.

She remarked: "If you can get it right then you can fly in and out of New York for not a huge amount of money and some of the upstate parts of New York are lovely," adding that these are popular areas with investors.

Ms Reeve’s comments come as a new poll has emerged showing US property to be more popular with investors than last year.

The Jet-to-Let magazine survey revealed that the country is now the third most popular location for investors, up from fifth last year.

France, Spain, Italy and Turkey were also among the top ten.

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Italy property may stay stable as country feels no change from economy

Thursday, February 19th, 2009
The Italy property market is in a solid and stable position as the country takes the global economic downturn in its stride, it has been stated.

Italy has seen little change in its fortunes because it has gone from a situation of low growth to one of slight decline, a much smaller shock than that faced by recently booming economies that are now struggling, observing that unemployment has only risen slightly and is still well below the levels of ten years ago, Reuters reports.

The news agency noted that the Italy property sector was never in a boom period and therefore shows no sign of a bust now, with most Italians not taking out mortgages.

Such a stable situation could encourage those looking to buy in the country.

Italy has retained its position among the most popular buyer destinations, according to a new poll.

Jet-to-Let magazine found that the country remains in 7th place among the most favoured locations to buy, unchanged from last year.

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French Riviera targeted as buyers seek bargains, says expert

Thursday, February 19th, 2009
The French Riviera is one of the areas being increasingly targeted by those seeking holiday homes, a property expert has stated.

Georgina Richards of property firm Knight Frank told the Independent that the market is increasingly shifting from buy-to-let to holiday homes, in which people want to find bargains in established and popular locations, including the south of France.

She stated: "[Buyers] want established, mature areas with easy access and stability. Right now there are good properties at good prices and people with cash are in the best position."

Andrew Hawkins of international estate agency Chesterton told the paper that there is a "trend" for people to move their money into "tangible assets" such as property.

The French Riviera property scene may be set to perform well this year, as a new poll has shown that France continues to be a popular investment location.

Jet-to-Let Magazine’s 2009 survey revealed that the country remains the second most attractive country in which to invest in property.

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