Best places to retire abroad

While we batten down the hatches and attempt to ride out the economic storm, there are places in the world that i know i would far rather ride it out.

People purchasing a holiday home buy it to rent out, or buy it for personal use, or even a bit of both, but research has found that increasing numbers of people over 50 years old are purchasing properties abroad to ride out retirement. 

There are four main incentives for people moving abroad  such as less tax a much nicer climate so heating bills arent as expensive, a general lower cost of living and with house prices across the world having been hit by the recession, there are SO many great deals around, it is the best time to buy.

Here are 10 places with some of the best deals for anyone looking to buy or retire overseas:

Florida

On average the climate’s a lot warmer than Britain’s, so you’re guaranteed sunshine. Property prices have fallen by 30-70 per cent over the past four years.

You can pick up a one-bedroom condominium apartment for £25-£40,000. A more spacious, and more rentable alternative, would be a two-bedroom, two-bathroom apartment for £55-£60,000 at Tuscana.This is a new resort just ten minutes from the Disney World Theme Park, in Orlando, and 45 minutes from the Legoland Park at Winter Haven, due to open in October.

Barbados

Brits are the biggest expat community in Barbados. Celebrities such as Sir Cliff Richard and Andrew Lloyd Webber are known to have brought property on the island. Estate agents have  reported a 70 % increase in 2010, in comparison to sales in 2009. This is partially due to house prices being lower in 2008 by 15%. The biggest discounts are on condominium developments.

France

Overall, prices in France are eight per cent down on their 2007 peak. 39 % of Britons moving to France tend to opt for coastal properties, 37% choose rural areas and 19% decide to recline in mountainous areas.
Areas such as Aquitaine, the Dordogne and the Languedoc remain very popular. However the prospect of spending a year or more in Provence, à la Peter Mayle, is as attractive as ever.

If you have a big chunk of money and are looking for a quick return, however, the historic centre of Paris is the place to buy. According to the British specialists Home Hunts apartment prices rose by 20 per cent in 2010.

Cyprus

While the beautiful Cyprian sunshine is just one of the reasons to consider moving to the Greek Island, if in one financial year you spend over 183 days on the island, you become a tax resident, liable for as little as five per cent income tax.

Corporate rates of tax are only 10 per cent. There are newbuilds at Limassol Marina, the Leptos Apollo Beach Villas, near Paphos, and the Sea Gallery Villas, at Amathus.

Italy

You won’t find stacks of cheap, soulless, little modern apartments in Tuscany and Umbria. But you will find lots of rural residences with character.

Prices are between 5-20 per cent lower than September 2008, so for £150,000 you can buy a pretty, stone-built town house in the village of Collodi Castello.

And £208,000 will buy you a three-bedroom hillside home with barn and garden, near Lucca. Purchase tax goes up to 18 per cent from 10 per cent if a property’s land is cultivable.

Mauritius

Picture postcard beaches, and an expat-friendly Integrated Resort Scheme, whereby you, your spouse and offspring enjoy not only residency status, but freedom from inheritance and capital gains tax. This is provided you buy a top-end property such as at the (288-villa) Valriche development next to two golf courses (with another planned). Prices start from £500,000 for a two-bedroom villa.

South Africa

Cape Town is where most Brits gravitate, with its fine beaches and equable climate. Prices can be 50% lower than the most expensive parts of Europe, too.

You can buy a three-bedroom house, in a gated community, overlooking Hout Bay, for £500,000, and rent it out for around £2,000 per month. The two most UK-friendly areas are Clifton and Camps Bay, where 30% of the population is British.

Spain

Property sales in Majorca are up, as is the number of Monarch Airlines flights from Britain. You can buy an (as yet unbuilt) two-bedroom beachside villa at Cala Anguilla for £180,900.

Murcia, in south-east Spain, was the original star of Spanish golfing properties. It now has more links-side homes for sale, at below-par prices. A two-bedroom home costs £45,000 at the Camposol Golf Development, at Mazarron. 

Switzerland

You need to be rich to get in, but once you get in, you’ll get richer. In Switzerland, taxes are decided by an individual’s expenditure and standard of living, rather than income and assets.
 

Turkey

During 2010, property sales to foreigners rose by 40 per cent on the year before, totalling £2.5 billion.

Not quite as good as the 3 billion of the boom years (2006-08), but enough to name Istanbul the best European city for investing in property during 2011.

Buy a place in this fascinating metropolis and you also have a ready supply of would-be tenants for when you’re not there. Istanbul has an estimated housing shortage of 250,000 units per year.

A one-bedroom apartment at the new Belgravia Residence development, in Bahcesehir, 20 minutes from the city centre, costs £48,000. 
 

Before you buy

Ten things to think about before you decide on moving:

·        Do your currency sums. What happens if the pound plummets – or soars?

·        Think jet lag – how many hours’ difference between there and GMT?

·        How dependent on low-cost airlines will you be?

·        Can you afford to keep the place for your exclusive use? Or will you need to rent it out?

·        If you’ve only been there on holiday, what’s the weather like during the rest of the year?

·        Have you a good local lawyer? Often, a mere notaire is not enough.

·        Do you speak the language? If not, you may want to buy into an expat British community.

·        How free (or otherwise) is health care out there?

·        How re-sellable is the property?

·        How easy (or hard) does the country in question make it for your descendants to inherit the place?

if you are thinking of moving abroad, and are looking into taking out an overseas mortgage, whether it be in France, Spain, Italy or South Africa, here at Conti overseas mortgages we can offer you great mortgage deals so you can start soaking up the sun.

Alternatively, if you are happy here in the UK and are in the process of moving but need conveyancing, visit us at www.helpfulconveyancing.co.uk for your conveyancing solutions today!!

Escape The Euro Crisis In These High Growth Property Markets

fig 1. mount Ararat, Turkey

The Euro is on the brink of breaking as political leaders in Greece have announced that their country is heading towards its own Great Depression with Spain and now Italy slowly heading the same way. However,
as Roman philosopher Seneca once said “It’s not because things are difficult that we dare not venture, it’s because we dare not venture that they are difficult.”

if you were interested in buying property in Europe, perhaps Spain or Italy, but are worried at where the pending economic crisis may leave you, then fear not as there is a country in Europe that may be able to help jump start your property portfolio.

Turkey has been one of the top spots on investors’ property lists for the past two years with its rapid GDP growth of 3.2% in the first quarter of 2012 underpinning strong rises in the value of Istanbul property.

As a result of the new reciprocity law that has been passed to allow citizens from the majority of countries to invest in Turkish property, there is now a steady influx of investors from Gulf nations in particular, who were previously unable to invest directly.

As many Turkish real estate advisors will tell you, “If you really want to make money from investing in Istanbul property you will need to move early to get the best prices. We are seeing a lot of interest from investors we haven’t seen before as a result of the new law being approved.”

Property prices in Turkey are already on the up and are rising by around 10% every year, which would mean, if this trend continues, that property in Turkey could have risen by so much as 50%!! This is making Istanbul a great place add to a property portfolio or even to build.

The property market in Florida is another hot market that is attracting some attention this year with investors hoping to catch the bounce.

Fig 2. Crandon Park, Florida

If you are keen to invest but you want to steer clear of the Eurozone crisis, Florida is a market where you can enjoy strong rental yields and prices that are showing the first clear signs that they are on the up.

You can pick up a townhouse from as little as £45,000 and with the price of Miami property 50% below its peak it is a solid investment!

If you are tempted by the prospect of taking advantage of the property market in Turkey or in Florida and are looking into investing in property in either of these places, or anywhere else for that matter visit Conti Overseas Mortgages at www.mortgagesoverseas.com

OR if you are looking for a home in the UK and need conveyancing? visit us at www.helpfulconveyancing.co.uk for all your conveyancing solutions!!

Istanbul quickly becoming new investment hotspot!

According to experts, Istanbul is rapidly becoming the new investment hotspot.
Knight Knox believes that the country's surge in popularity among international investors is down to the recent rush in construction of commercial property as well as continuing demand from businesses.

Dave Smith, who is a Property Consultant at Knight Knox International has stated that "Turkey has always been a popular destination with our buyers...and even more so now, as it is viewed as a more secure market than other countries in Europe. In particular, enquiries into property in Istanbul are increasing, as investors look towards gaining an income from the residential property market."

A report by CBRE has recently shone a lot of positive light on the cities outlook, with multiple banking companies, insurance and organisations set to expand and/or relocate to Istanbul over the next year or so..

if you are interested in getting in on the action in Istanbul or are interested in buying property in Turkey, visit us at www.mortgagesoverseas.com

or if you are relocating within the UK and need conveyancing but want to find the best deal for you? then come and compare conveyancing prices with us at www.helpfulconveyancing.co.uk

Turkish Property market is booming!

Turkish property market is booming!

The Turkish property market is booming in a way that is completely unheard of in the country’s history. Despite the state of the world’s economy, Turkey is still providing buyers with competitive real estate prices. A key part of this boom appears to be due to foreign investment, where investors are headed to the country to get their hands on  millions of pounds worth of property.

Non-Citizens can invest in property  thanks to a new law

As of a few months ago, non-Turkish citizens are able to buy property in Turkey due  to the passing of a new law. This legal change has come hand in hand with a boom in turkish property and mortgages in Turkey, the majority of which are happening in Istanbul.

Spanning Europe and Asia, Turkey is where East meets West in a blaze of glory. Influences of both cultures chart its epic journey across thousands of years to the developments shaping this sizeable country today. Ottoman mosques vie for attention next to Roman temples and eastern spice markets mix with trendy boutiques. Ancient cities resplendent with archaeological treasures now a short expedition from lively resorts and sun kissed beaches.

In the south its vast golden shoreline basks in the Mediterranean and Aegean heat while in the north the Black Sea sets the tone for its cooler climate. From its breathtaking waterfalls, historic rivers and tranquil countryside to the hustle and bustle of its vibrant cities, such as Istanbul, with their chaotic bazaars and busy ports. Turkey is crammed full of delights. As more and more people are discovering the tempting array it has to offer, its holiday home market has been flourishing. Combine these factors with the relative stability of the Turkish economy and it is clear to see why Turkey is considered ideal for investment.

Investors from Europe attracted to Turkish property

As mentioned earlier on, the new law was introduced, demolishing the barrier that previously prevented foreign investors from buying Turkish land. Predictably, investors started looking into property as well. Local real estate agents have mentioned that 2 big European firm owners are seriously considering property in Turkey.

Investment in turkish property is viewed as a positive thing, however, some local estate agents have concerns. They fear that investors hope to re sell to other individuals, which raises fears due to the speculation that may occur when they are not selling directly to the buyer.

Ripple effect?

As you can imagine, locals are generally excited by the prospect of foreign investment in turkish property and mortgages. There is a fear that the increase in interest will also cause an increase in prices, which in turn may create a ripple effect that would affect the entire property market in Turkey.

The large proportion (80%) of Turkish property sales and mortgages are due to local / non - prime real estate, leaving the other 20% for luxury property, according to Istanbul - based estate agents. The new law has been somewhat opposed by  competing  parties as they feel that some of its provisions are unfavourable.

Property sales reach $1 Billion in one month

In just one month, a record $1 Billion worth of property has been sold in Turkey. This is in stark contrast  when compared to figures from last year, since then there has been a fourfold increase. What make this all the more spectacular is that only $114 million worth of Turkish property had been sold in early 2012. This amount of foreign investment has been heralded as the largest since the republic of Turkey was forged in 1922.

Turkish mortgages and property sales are expected to shoot up in the coming months as an increasing number of foreign investors flock to the country. In the following  months the quantity of mortgages in Turkey  and property sales are being predicted to rise even further as more foreign investors flood in.

If you have an interest in the turkish property market, buying a home in Turkey or Turkish mortgages, please do get in contact with Conti - Overseas Mortgages by exploring our website (www.mortgagesoverseas.com)