Turkey’s second city and economic powerhouse, Istanbul, has become a honey pot for international investors with the number of foreign investors planning to establish businesses or expand their operations in Istanbul up by over 6% in the first half of 2010 (compared to the second half of 2009). The ITO released data also revealed a 27.16% increase in the total value of these investments for the same period.

Steven Worboys, MD of the UK based Istanbul property investment experts, Experience International, comments, “Istanbul has proved one of our most successful property investment opportunities of 2010. We have clients from not only the UK but Ireland, Scandinavia, South Africa, Australia, and the UAE capitalising on Istanbul’s significant housing shortage and investing in the domestic property market.”

In the first half of 2010 over 1,400 foreign investors established companies within Istanbul with the total value of capital investments made in this period up by a remarkable 44.68% compared to the last half of 2009.

As Worboys remarks, “International investor confidence in Turkey and more specifically Istanbul remains high. Being located outside the troubled euro zone is of great appeal and Turkey appears to have side-stepped the negative effects from neighbouring Greece.”

GDP forecasts for the remainder of 2010 currently sit at a healthy 6-7% and with additional support for candidacy from the British Prime Minister, David Cameron, on his recent visit, accession to the European Union looks ever more likely for Turkey.

For those considering investing in Istanbul then one particular real estate opportunity should not be missed. No1 Knightsbridge comprises 1, 2 and 3 bedroom luxury apartments located in the burgeoning suburb of Beylikduzu, on the European side of the city. Currently Istanbul has a housing shortage of some 250,000 units per annum and so rental demand is high. Only 20% of units are available to overseas buyers and can be purchased from as little as £23,250 with 70% finance available for EU members.

For more information please contact the experts at Experience International on +44 (0) 207 321 5858 or visit www.experience-international.co.uk.

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The last couple of years have seen interest in second homes especially along the stunning Aegean and Mediterranean coastlines swell with foreign investors purchasing twice as much property than they did in total over the past 79 years since the founding of the Republic, the data reveals. European buyers in particular have been attracted to Turkey due to the affordable property prices, low cost of living and direct access from the UK.

Steven Worboys, MD of Experience International, the Turkish property experts, comments, “We have certainly seen the Turkish property market go from strength to strength. Overall, the number of foreign property buyers has increased by nearly 30%, from 73,000 in 2008 to 104,000 today with the British market accounting for the largest group of buyers.”

Over 63 million sqm of property, classed as ‘immovable assets’ by the Turkish Land Registry, is owned by foreigners with Britons possessing the largest amount at 6 million sqm, followed by the Germans at 3.5 million sqm and Greeks at 3 million sqm.

The province of Muğla, located in the south-western corner, on the sublime Aegean coast, has proved a particularly sought-after destination with almost 5.5 million sqm of immovable assets owned by foreign nationals.

As Worboys remarks, “Muğla province, home to the popular towns of Bodrum, Marmaris and Fethiye, encapsulates everything that foreign buyers desire; it’s no wonder that over 14,000 Britons own property here. Crystal clear waters, golden sandy beaches, international airports allowing easy access, solid infrastructure and plenty of amenities on hand, not to mention affordable, spacious properties built to the highest standards – it has something for everyone.”

One factor which has certainly positively affected the Turkish property market has been the increase in availability of finance. Up to 70% LTV mortgages are now commonly available throughout the country and this combined with Turkey’s location outside the euro zone means there is zero currency exposure as many property prices are fixed in Sterling.

Properties such as the luxury hilltop residences of Royal Heights in Bodrum can be purchased from as little as £97,592 or further up the coast, towards the tourist hotspot of Altinkum, completed studio, 1 and 2 bedroom apartments in the Seahorse Residence can be snapped up for £31,600 with only a 10% deposit required.

For more information about buying property in Turkey, download your free Turkey Today magazine at http://www.buy-turkey-property.com/ or contact Experience International on + 44 (0) 207 321 5858.

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Their success is down to several factors:

- They are selling properties on a Freehold basis which is very unusual as beachfront land is leasehold in St Lucia
- Owners receive a 37.5% share of the total room revenue, which will be pooled and then split between owners proportionately according to the purchase price of their villa
- The developer is not reliant on bank finance to complete the renovation and the project.

There is a number of reasons to buy investment property in St Lucia:

A sound investment: St. Lucia offers the same advantages as other Caribbean properties, with prices currently 60-65 per cent less for the equivalent floor space. The island’s tax regulations ensure minimal taxes on re-sales; no estate taxes and no tax on rental income for the first 10 years of ownership (15 years for Sugar Beach).

Culture: St. Lucia provides the best of both worlds: a laid-back friendly island atmosphere with modern amenities and North American building standards. Influenced by a blend of African, French and English traditions, St. Lucians are known as the friendliest people in the Caribbean, if not the world. The island hosts a wide array of cultural festivals, giving visitors a true taste of the tropics.

Security: St. Lucia is a stable, independent nation, providing visitors with an established and trusted banking system, excellent medical services and a safe tourism environment.

Accessible location: St. Lucia is an ideal location for those looking to escape the cold winter months. It is easily accessible from London Heathrow and London Gatwick from where there are 5 flights per week with British Airways and 3 flights per week with Virgin. St Lucia is also accessible by sea as a popular cruise and sailing destination.

A tropical paradise: St. Lucia offers rainforest hiking and walking, some of the world’s best sailing, the Piton mountains and golden sand beaches.

Cardea Property Consultants, sales and marketing agents for Sugar Beach villas in St Lucia, have sold luxury villas totalling $14.5 million in their first six months of operation. Since the all-female agency set up in December 2009, four private residences and three freehold rental pool villas have been sold.
Lisa Basire, marketing director, puts Cardea’s success down to several factors. She says: “Sugar Beach is being sold on a freehold basis, which is extremely unusual in St Lucia as beachfront land is leasehold.

“We have been able to sell new-build rental pool villas, which form the accommodation for the resort because the existing hotel – the Jalousie Plantation – has 20 years of trading history. That’s why Sugar Beach is able to offer owners an exact 37.5% of the pooled room revenue rather than paying a split of the profit because they know what the running costs are and they know the occupancy levels. For added confidence, purchasers of these fully furnished rental pool villas enjoy a minimum 5% rental guarantee from handover and for the first 12 months after the hotel (Jalousie Plantation) re-opens as The Tides Sugar Beach in 2011.”

Owners are entitled to use their villa for four weeks each year. For a one bedroom villa this is the equivalent to a saving of around US$23,100 each year.

Lisa continues: “We are finding, however, that the three bed – roomed private residences are the most popular purchases. I think the reason for this might be that the type of purchaser coming in at this level is more focused on retaining privacy and anonymity.”

“Another positive of Sugar Beach in this difficult world market, is that the developer is not reliant on bank finance to complete the $100 million development, giving investors’ peace of mind that the resort will be re-developed as planned.”

Most investors at the Sugar Beach resort are primarily from Britain making up 56% of the total purchases, followed by Europeans and Americans which together make up for 30% of the sales. Buyers of the Private Residences get all the benefits of the ongoing US$100 million redevelopment of the former Jalousie Plantation resort which will redefine the concept of luxury when complete and re-launched as the Tides Sugar Beach Resort in 2011.

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Every four years the world goes mad with football fever and this year all eyes are turned to South Africa. For many fans this will be their first taste of this beautiful country but for the discerning property buyer with an eye for quality, this year could be the first visit of many with a winning opportunity in Knysna joining the likes of Roger Federer, Ernie Els and Nick Price in your overseas holiday home.

The Garden Route runs along the southern coast of South Africa for some 396 km and is a memorable journey through intense, verdant landscapes, from the cosmopolitan city of Cape Town to “The Friendly City” of Port Elizabeth. The area offers extreme diversity from unspoilt beaches to ancient forests and National Parks. Nestled approximately half way along this majestic coast line rests the town of Knysna. It is one of the southern Cape coast’s best known and popular holiday destinations.

Knysna and The Garden Route has a Mediterranean maritime climate, with moderately hot summers and mild winters. Any time of the year is good for visiting the area, depending if you enjoy a peaceful retreat during the winter months, or a bustling holiday destination during the summer. South Africa as a whole is such an easy place to travel to as it only has a one hour time difference with the UK taking away the threat of tiresome jet lag.

Knysna itself has many attractions in the surrounding area, one of the most spectacular being the Knysna Forest, the largest indigenous forest in South Africa comprising of tall and ancient trees of local and exotic species. Animal life is limited to a few small antelope and a large variety of birds, such as the famous Knysna Loerie. Home to the once great herds of Knysna Elephants, it is believed that only one lonely cow remains today. A visit to South Africa is not complete for many travellers without a visit to a game reserve – easily accomplished from Knynsa where there are several opportunities to catch a glimpse of the ‘big 5′.

If a golf buggy is more your style than a safari jeep then the Simola Golf and Country Estate is probably the most desirable golf address in Africa. A Jack Nicklaus Signature Golf Course on South Africa’s Garden Route coast offering a lifestyle unsurpassed anywhere in the world. It is here you will find “The Theatre of dreams” – over 8000 square feet of opulent, luxury living. This property has undoubtably been built for a celebrity type lifestyle. The design of the house is contemporary and dramatic, cantilevered off the hillside, it is split over four levels with strong elements of stone and glass. The spaces are visually connected but separated by various water features resulting in a calming, tranquil feeling which compliments the internal spaces.

Simola is Knysna’s newest upmarket development and no expense has been spared in unlocking its true potential. All who visit, play or live at Simola applaud it rapturously. Jack Nicklaus designed the stunning signature 18-hole golf course around the lush indigenous vegetation and forests and the result is one of the most stunning new courses of the millennium set over a 325ha estate. The five star hotel, which opened last December has an exceptional spa and restaurant with views that are arguably the best in Knysna.

Theatre of Dreams is priced at £1,757,500. For more information please visit www.bw-international.com or call 01344 843000.

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Released this week, the expert report reviewed major global property markets, focusing on how much appreciation in value a property in a certain location is likely to see as well as the future earnings it will yield.

According to Global Property Guide data, gross rental yields are currently at 5.48% with significant potential for growth, especially in primary cities such as Istanbul where property remains affordable and demand high.

Steven Worboys, MD of Experience International, the Turkish investment property experts, comments,

“I believe that Turkey, and Istanbul in particular, presents one of the most attractive property investment opportunities available in Europe today and it’s pleasing to see that the latest Global Property Guide Recommendations report supports this.

“Rental yields are currently higher than many other traditional second property destinations in Europe including Italy (5.04%), France (3.85%), Spain (3.81%), Portugal (3.63%) and due to the significant shortage of housing, currently at 5.5 million housing units by 2015 (according to the Central Bank of the Republic of Turkey) rental yields and capital gain are forecast to increase further.”

In addition to robust rental yields, Global Property Guide recommends investing in markets where high GDP growth is expected. Turkey was not affected as greatly as many of its neighbours by the financial crisis with 6% economic growth recorded in Q4 2009, up to 12% forecast by the Turkish Finance Minister for Q1 2010 and 6.7% p.a. between 2011 – 2017 by the OECD, the highest growth forecast of all member countries.

Currently property can be purchased off-plan in Istanbul at up to 50% of completed prices. The sought-after No1 Knightsbridge development for example in Beylikduzu, on the European side of the city offers studio, 1, 2 and 3 bedroom luxury apartments from just £41,000 with a 2 year protected rental guarantee of 7.5% and up to 70% finance.

Further south, along the Aegean coast, completed properties such as the Capital Villas located in the tourism hotspot of Kusadasi, just 1 hour from Izmir international airport, can be purchased from just £105,000. These luxurious 3 to 6 bedroom properties are only 100m from the beach and afford stunning views across the Aegean Sea.

For more information about investing in the best property market in Europe, contact the experts, Experience International on + 44 (0) 207 321 5858 or visit www.experience-international.co.uk

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The French Alps are renowned as a top winter tourism destination attracting millions each year to its pristine pistes, exclusive resorts and charming villages.

But the area is not only to be enjoyed for a few months each winter, the French Alps offer a wealth of attractions in summer also and with latest reports from French mortgage specialist, Athena Mortgages, stating that May was the busiest month of the past 12 in terms of enquiries, it would seem that buyers are seeking Alpine homes that they can use all year round.

So what are the top 5 activities to enjoy in the French Alps this summer?

1. Walking in the Vanoise National Park – located between the Tarentaise and the Maurienne, the Parc de la Vanoise is one of Europe’s oldest and largest protected areas. The park is rich in flora and home to herds of ibex; it also offers 500km of marked walking paths and trails for all abilities.

2. Mountain biking – From two skis to two wheels, mountain biking is one of the most popular summer activities in the Alps. The Sainte Foy en Tarentaise area, just 15 minutes from Val d’Isere and Les Arcs offer some of the finest natural trails with mountain descents and long cross-country roads running through alpine meadows and forests as well as unspoiled mountain villages with stunning views of the glaciers.

3. Mountaineering - Summer is the perfect time to explore the mountains of the Alps, from the Mont Blanc massif in the west to the imposing Dolomites in the east, this region offers some of the most challenging climbs available. Increasing popular is “via ferrata”, Italian for “iron road”. Originally built in the Dolomites as routes for WW1 soldiers to transverse, these footpaths follow the contours of the mountain face featuring ladders and rope swings to add extra excitement.

4. Rafting and Canyoning - as the glaciers undergo their natural summer melt, the rivers of the French Alps come alive with the sounds of canoeists and white-water rafting thrill seekers. The river d’Isere near Sainte Foy provides one of the longest and most exhilarating white water rafting experiences as well as the opportunity to try canyoning.

5. Get a taste of local culture – the Alps are home to some of the most traditional charming towns and villages in all of France. Wander through quaint streets, admire the Savoyard architecture, visit museums and historical centres and sample the local culinary delights. La Plagne, located in the heart of the Paradiski, is one of the most popular summer destinations hosting numerous music and cultural festivals.
Getting to the French Alps couldn’t be easier with daily direct flights to Lyon, Geneva or Chambery from the UK; high speed trains also connect the Alps to Paris and then on in turn to the UK or it is possible to drive in around 9 hours.

It is also straight-forward to purchase property in the French Alps with leaseback developments proving popular as they offer guaranteed rental income as well as personal usage. One development which is particularly sought-after is La Chapelle in Sainte Foy as investors can enjoy free usage of the property in June and September as well as guaranteed & index-linked returns for 18+ years. A limited number of 1 – 4 bedroom luxury properties remain with prices starting from £170,000 and up to 100% finance available.

Alternatively, the completed 4* apartments of Le Centaure, located in La Plagne comprise studio, 1, 2 and 3 bedroom modern and spacious properties with superb on-site amenities. Prices are from €148,000 and up to 95% finance is available.

For more information about purchasing in the French Alps pick up your FREE COPY of Focus on France magazine, your essential guide to French leasebacks, by calling + 44 (0) 207 321 5858 or visiting www.frenchleaseback.org.

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Oman, once the most powerful state in Arabia, is now the ultimate luxury haven, for both tourists and foreign property buyers alike. Located along the south-east coast of the Arabian peninsula in south-west Asia, the country is rich in culture and renowned for offering a tranquil way of life.

Oman is stunningly beautiful with over 2,000k of perfect beaches and tourist attractions are varied, including ancient cities, desert and mountain landscapes, and wadis. Oman’s ruler, Sultan Qaboos Bin Said al-Said, knows that the country needs to diversify away from their reliance on the country’s diminishing oil reserves and so he is plunging money into investing in the country. One of the big laws he has brought in concerns property. Ratified in 2006, foreign nationals are now allowed to purchase freehold property and land in designated tourist areas in Oman.

These areas are known as Integrated Tourist Complexes (ITCs) and overseas property investors are snapping them up. In fact, around 70% of all properties in ITCs are now said to be owned by overseas nationals, with most of these being from the India subcontinent, Germany, Scandinavia, and the UK.

When you look at the facts, it’s not hard to see why so many property investors are attracted to Oman. However it isn’t all good news. Oman’s property prices in the ITCs have been affected by the global financial turmoil. Although prices rose between 2006 and 2008, current prices are said be below their 2008 peak – with some reporting a drop of around 25% from their peak price. The drop in property prices in Oman has led some construction projects to be temporarily put on hold. However green shoots are in evidence and it seems that ITC prices are slowly starting to creep up again.

The good news is that Oman has so far steered clear of the high-risk, high-return investments which dogged other property markets such as Dubai. This means that although property investors may have lost a little of the value of their portfolio over the last few years, there should be none of the boom and bust bubbles seen in other countries property markets.

Oman is also keen not to spoil the natural beauty of the country. Instead, properties are high-quality, low-rise luxury developments which complement the surrounding scenery. Infrastructure is also being upgraded – the main airport at Muscat is currently being upgraded and extended, and new airports around the country are currently being planned.

Expatriate homeowners and their immediate families living in special tourist zones now automatically gain residency rights, with two-year renewable visas available.

There are plenty of properties in Oman to suit most budgets – a one-bedroomed apartment in an ITC starts at around $250,000, whilst a luxury villa will be several million. The country also is an excellent tax haven with no income tax or capital gains tax. This means that any rise in property value or rental income will be exempt from tax.

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The potential capital gains windfall for British expats who sold property in Spain before 2007 comes after the scrapping of a discriminatory Spanish tax law.

Now with the pound weak against the euro, and the clock ticking on securing refunds, all claims must be filed by 21st November this year. The Currencies Direct experts say there is no time like the present for expats to get their refund and repatriate the money.

Mark O’Sullivan, director of dealing at leading currency exchange firm Currencies Direct, said: “With a weakening pound and a steady euro, this welcome tax refund can be maximised by British expats who can make a claim and exchange their money as soon as possible.

“When yearly interest is taken into consideration on property sold as long ago as 1997, we are talking about considerable sums of money. It will be great for expats to get their cash back, but even better if they can use the current exchange rate to their advantage and get the most from their unexpected windfall.”

Capital gains tax paid by British expats who sold Spanish property before 31st December 2006 was charged at a ‘non-residents’ rate of 35%, compared to just 15% for Spanish residents.

The Spanish government changed the law in 2007, after the EU declared it discriminatory, but an estimated ten thousand British expats had already overpaid. Now they are entitled to a refund.

The claims deadline for those who sold property between 1st Jan 1997 and 31st December 2006 has been set for 21st November 2010, under a one year statute of limitation.

Dimas Cuesta from Lexland, a law firm that has already secured rebates for British expats, added: “The legal process requires expert advice, which is fundamentally important to the chances of a successful claim. British expats looking to be reimbursed should act now, before the claims deadline.”

Expats who think they have paid too much tax on their Spanish property sale should visit www.spanishpropertytaxrefund.com and use the online tax rebate calculator to see how much they may be owed.

About
Currencies Direct is one of Europe’s leading non-bank providers of foreign exchange payment services. Since it’s formation in 1996 Currencies Direct has evolved and positioned from being an innovative service provider of foreign exchange for consumers and high net worth individuals into a dynamic and pioneering ‘business to business’ fully integrated treasury solution service provider. Head quartered in the City of London (United Kingdom) with operations in Europe, Africa, Asia and the United States, Currencies Direct is part of the Azibo Group, a privately owned investment company.

Lexland provides legal services to English citizens living in Spain and for Spanish firms in the UK. Legal services for private clients and corporations covering practically all areas of the Law are also available.

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Venables has been granted permission for a £430 million resort on the Costa Blanca. Initial plans are for 300 flats and villas and a 95-room hotel as well as extensive sports facilities including 13 football pitches, a golf course, horse-riding facilities and 12 tennis courts.

It is understood that Venables is hoping for the resort to become a centre for sporting excellence to rival the La Manga complex which is situated around 100 miles south.

However many locals are unhappy about the new resort saying that it will destroy an area of great natural beauty. Detractors have said that the resort will destroy local farmland, weaken social cohesion and blot the landscape.

Venables has responded saying that he will be discussing the concerns with his lawyer and that he is striving to make the complex as eco-friendly and sustainable as possible.

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The Private Residences of the Tides Sugar Beach resort set between the iconic St Lucian Piton Mountains, offer all the privacy expected from secluded island living. Situated in the most exquisitely beautiful location of the Caribbean, the resort is nestled within the rainforest on the hill overlooking the bay of Sugar Beach. There are 31 Private Residences and there will be five additional ultra exclusive homes part of Glenconner Beach just to the south on the other side of the pier.

Each of these meticulously appointed spacious homes offers two to six bedrooms and affords spectacular, ocean and piton views with prices from US$3,250,000 to US$9,000,000. All properties have been designed by the award winning architect Lane Pettigrew in the same Caribbean white fretwork style.

These Private Residences are in a protected UNESCO World Heritage Site, which means it is protected from further building permissions on the 130 acres of rainforest and pristine beaches in the South-West of the island.

Each of these meticulously appointed spacious homes offers two to six bedrooms and affords spectacular, ocean and piton views with prices from US$3,250,000 to US$9,000,000. All properties have been designed by the award winning architect Lane Pettigrew in the same Caribbean white fretwork style.

Four of these Private Residences are named Ocean Residences because of their idyllic location with striking views across the Caribbean Sea. Each of them ranges in size from 2,555ft² to 5,126ft² featuring spacious bedrooms with its own deluxe bathroom, oversized living and dining areas and a private swimming pool. Their prices range from $4 million for a three bedroom property to $6 million for a four bedroom property.

Just on the other side of the pier (south) will be built four additional villas averaging $9 Million each from US$7m to US$9m. ($1400/sq ft). These will be named Glenconner Beach after Lord Glenconner who sold his land to allow them to be built and who still lives just up the road on the hillside. These exceptional homes include vast areas of outside living space: bathing pools as well as swimming pools and outdoor showers, king size beds as well as sofas, dining gazebos and bar areas.

The ultra exclusive Glenconner Beach villas averaging US$9 Million each have been inspired by Lord Glenconner who originally discovered the spectacular site between the Pitons in 1982 and now resides in the nearby Beau Estate. These five exceptional homes include vast areas of outside living space: bathing pools as well as swimming pools and outdoor showers, king size beds as well as sofas, dining gazebos and bar areas.

All villas will make maximum use of the natural resources found in St Lucia, whilst being as ecologically friendly as possible, and integrating with the tropical rainforest which envelopes them. Four of the villas are on the beach, ensuring uninterrupted sea views, with a further villa set on the hill above with panoramic views out to sea. Each one will be distinctive with a different size and layout in a traditional Caribbean style with steps down to the white sand beach and access to a private jetty in the bay below.

The construction of the second beach in front of the ocean-front private villas and some of the Private Residences started in March 2010 and will complete approximately end of 2011. Construction of the villas will take approximately 12 to 18 months.

All Private Residences have use of the extensive facilities of The Tides Sugar Beach Resort which will fully open in December 2011. The luxury resort will be managed by Los Angeles-based Viceroy Hotel Group, operator of The Tides, an elite brand with resorts in the world’s most desirable locations. Sugar Beach refers not only to the crystal white sand along its shore, but to the fact that an historic Sugar Mill is still sited there.

The Tides brand is synonymous with prime coastal settings, provocative design, intuitive service and an array of refined and modern amenities designed for the spirited traveller. The Tides Sugar Beach will be using their ‘Personal Assistants’ service to anticipate guest needs and assist them in enjoying St Lucia to the full.

Lisa Basire, Marketing Director of Sugar Beach who says: “St Lucia is becoming the lifestyle destination of choice in the Caribbean for those who want a piece of paradise. The protection ensured from the World Heritage status is unparalleled, ensuring no risk from over-development”.

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