Holiday property investment

Property investment in Cyprus is becoming increasingly appealing to investors worldwide, with economic conditions now improving at an impressive rate and the prospective adoption of the Euro drawing record interest from foreign investors. Jeroen Kremers, an executive director at the International Monetary Fund (IMF), recently predicted that Cyprus would be using the European single currency by April 2008 and he stressed that it would be a crucial move for the health of the country's economy. Property prices within the country are currently rising at a staggering rate of up 20 per cent annually. As such, investors are finding they can make bigger gains on their property in Cyprus than in France or Spain , while growth rates in Bulgaria can still be unpredictable. Cyprus has long been a favourite among UK tourists and investors and it also has an enviable reputation for attracting "repeat visitors". A growing number of UK residents are looking to the island for a holida...

The government may remove all restrictions on overseas property purchases by next year after moving up its schedule to liberalize foreign currency transactions, officials at the Finance Ministry said yesterday. At the moment, Koreans are banned from purchasing commercial-use property outside the country. Those purchasing property for residential purposes are subject to a ceiling. But after raising the limit last month, the government is poised to lift all restrictions by the end of this year. If the ministry gives the green light on eliminating the restrictions on commercial real estate purchases as well, there would no longer be any restraints on Koreans seeking to buy property abroad. "We can't confirm it yet, but we already said earlier that the restrictions on offshore investment would be eased by 2007 or sometime soon after that," said Hwang Gun-il of the ministry's international finance department. Easing the rules on offshore property investment is th...

Visitors to Ryanair's website can now click on a link that displays thousands of properties in Spain and Portugal. The no-frills airline has inked a deal with property firm Majestic Worldwide that will see it place links to its partner's website on Ryanair.com. Ryanair already has its fingers in several pies outside the air travel industry, recently launching its own range of travel insurance products. But the budget airline apparently felt the time was right to build closer ties to the property sector as second homes in Iberia become increasingly popular among Brits. Under the terms of the partnership, the first 50 Ryanair customers to invest in Majestic's La Condesa de Mijas Golf property in the Costa Del Sol won't have to foot the bill for the first 18 months of mortgage repayments. This should see those quick off the mark save around €20,000 (£13,700) on their properties. Majestic offers a wide variety of properties ranging from studio apartments to luxury villas. A...

There has been a 40 per cent increase in enquiries for investment property abroad in Bulgarian ski resorts since September 2005, as overseas property investors seek to capitalise while prices remain low. Exclusive resorts such as Aspen Golf in Bansko offer affordable Ski property and strong long-term investment potential, according to investment property experts. An off-plan studio or one-bedroom apartment start from €50,000 ( £35,000 ). Over 30 per cent more UK holidaymakers visited Bulgaria in 2005, leading to an influx of travel companies with a majority of them offering guaranteed rental schemes. With a number of no thrills airlines looking to open up more direct routes to Bulgaria, this can only add to the long term growth of property investment. Rental yields through guaranteed schemes are about nine per cent, while property investors letting independently are achieving yields of about 12 per cent. However there are risks involved with buying Bulgarian property. Although Bulgaria...

Moving furniture and shipping your valuables to a property overseas can be not only a time-consuming but also painful procedure. Make sure that you trust the job to a specialist because moving should not add to the burden of buying and all the paperwork that is involved. Of course there are many companies out there that offer removal and shipping services in the EU and internationally but RemovalGroup caught my eye. They offer the services of a dedicated removal co-ordinator who is on hand at any time of the move process. No need for endless hours on the phone trying to find out where your things are plus a long list of useful associated services from cleaning to handyman jobs and most importantly the peace of mind that your things are going to get to their destination in one piece. Removalgroup.com

Property Climbers is a real estate series about ordinary Kiwis trying to climb a rung on the property ladder, hoping to make some money. The producers have tracked the ups and downs of different individuals over six months, as they practise their secrets of property investment. What do they reckon they know that ordinary people don't about which house or block of land to buy? How do they spot the investment goldmines from the dogs? Every step of the way millionaire investor and property consultant, Olly Newland is there with advice and tips for viewers. "Over the years I've done up heaps and heaps of properties", says Olly. "I've done them quickly and cheaply, and I can tell you this, it's the quickest way to make a lot of money in a hurry." Who are the property climbers in this series? There are a few high rolling millionaires taking huge risks wit...

With visitor numbers static in recent years and facing new competiton from former Eastern Bloc countries offering cheap holidays, the recent announcement by the Maltese government that negotiations were at an advanced stage with two low cost airlines has sparked hopes that the island will see a rise in visitor numbers, much to the relief of some in the tourist industry worried about the future of Malta as a holiday destination. Even before the new carriers to the island land the existing airlines have been offering return flights at prices seemingly much lower than in the past to try and hold on to their share of the market. Traditionally the UK has been Malta’s biggest market for incoming tourists, often making up over half of the island’s visitors in any given year, but some on the island see even this market as under threat. And property buyers from the UK have accounted for seventy per cent of Malta property sales to overseas buyers in recent years, settling in Valletta, Sliema, ...

Anyone looking to overload this year's ISA investment with property funds should think again, investment analysts have warned. With yields falling and equity markets remaining buoyant, investors are being advised to keep only trace elements of property in their ISA portfolio. The recommendation comes despite the fact that property funds qualify for ISA investment for the very first time this tax year. Meera Patel, senior investment analyst at IFA Hargreaves Lansdown, said investors were attracted by the lack of correlation between property and equity markets but insisted falling returns simply could not justify any great confidence in this asset class. For the last few years, we have been extremely cautious of commercial property,'' she told Reuters. ''Properties should usually be bought for their yields and these have fallen over the years. The capital growth from these is also usually very small so there is not much of a selling point there.'' Patel argued...

The Auckland property market may be showing real signs of slowing, according to new figures released today by Barfoot and Thompson. Barfoot said its January sales were the lowest for the month in the last five years. The company has the the largest market share in Auckland and its sales figures are generally taken as a good indicator of trends. The company recorded 797 sales in January, the slowest start to the year since January 2001. This followed a slow December where 671 sales were recorded, well below the company average of about 1,000 a month. Prices followed the trend, with a 13 per cent decline in average sale price from $492,882 in December to $428,385 in January and a 9 per cent decline year on year. Part of the drop may have been due to non-market factors. Full article .

Ireland has changed from a country which sends its job seekers abroad to one which sends its capital abroad – often in search of overseas property investments. Irish investors in overseas properties range from those investing in large scale commercial developments, to those buying a second dwelling. The key issue in overseas property investment is not taxation so much as location and price. But a good location and a good price can be ruined by a bad tax surprise. An investment in foreign property can be made in a variety of manners, ranging from acquiring shares in a company, to purchasing the property directly in the individual’s own name. There are other vehicles which may be used, including unitised funds, trusts, partnerships, co-ownership agreements with other investors, as well as a choice between entities created in Ireland, or those created abroad. The choice of method of investment and type of vehicle has tax implications but may be driven by non-tax considerations. In some f...

Despite ongoing political instability, New Zealand tourists are thronging to Fiji in every growing numbers with visitor numbers expected to have topped 100,000 last year. New Zealanders are not just going there to lie on the beach either - they're investing in holiday property. Fijian Tourism Minister Pita Naa-Du-Vah, visiting New Zealand, says the number of Kiwis visiting his country has more than doubled from 49,000 in 2000 to about 108,000 last year. The minister says there are a few reasons for the continuing rise in New Zealanders going to Fiji. He says the old relationship between the two countries has always been there from colonial times and is still very strong today. He says with new opportunities for more investment in Fiji tourism, an "incredible number" of New Zealanders are investing in the sector, including in construction work. The minister says New Zealand companies suc...

A series of promotions and advertisements are offering the dream of a holiday home in France at a fraction of the usual cost. But beware, because as with most things that sound too good to be true, there are drawbacks. Clever juggling with the figures using a leasing scheme set up by the French government and a low interest-rate mortgage in euros makes it sound as if you could have a holiday home without hassle or the cost. The scheme suggests that you put down a deposit of 20%-30% of the price of a property yet to be built and promise to lease it back to a management company which guarantees the rental return. Under the leaseback scheme, launched 20 years ago to boost tourism and investment, you escape the 19.6% VAT levied on new properties. You might be promised 4% to 6% of the purchase price each year in rent (this is known as the yield) while paying from 3% for your French lender's mortgage. So what are the drawbacks? Firstly, if you want to use your holiday home for a couple ...