Archive for the 'Real Estate' Category

Mar 12 2008

Credit crunch ‘not impacting on tourism’

Published by under Real Estate

The impact of the global credit crunch is not putting people off booking holidays abroad, new research has revealed.

According to TNS Travel and Tourism, millions of leisure travellers from the UK are still preparing to make their annual trips abroad, reports Travel Weekly.

This is despite people’s finances being constrained by the slowdown in the worldwide economy, which has led to fears of a possible recession.

Since one in five people said they plan to have more than two holidays this year, this suggests that consumers have made a trip abroad one of their financial priorities.

Tom Costley of TNS commented: “This data highlights a number of trends that suggest the UK holiday market appears resilient in the face of the economic downturn.”

Countries along the Mediterranean coast were found to be especially popular locations, with 27 per cent booking a week-long stay in places such as Italy, Spain and Turkey.

This comes after Murat Dedeman, head of the Turkish Tourism Investors Association, told Reuters that holidays have become a “necessity” for many people.

No responses yet

Mar 12 2008

Manchester property show attracts thousands

Published by under Real Estate

A recent property exhibition in Manchester has been deemed a “runaway success” after attracting more than 8,000 people.

Brooklands Group said the good attendance at the A Place in the Sun Live event highlighted the continued demand for property abroad.

This show for people looking for new homes, which was held in Manchester earlier this month, was the first to be held in the north-east of England.

Darren Styles, chief executive of Brooklands Group, said its success showed that industry commentators were wrong to suggest that an exhibition in the city would not work.

He added that the analysts were also wrong in saying that the foreign property market has been brought to a standstill by problems in the global economy.

Mr Styles commented: “It’s a fantastic start to the 2008 UK show calendar and augurs well for our return to London at the end of April.”

According to A Place in the Sun magazine, Spain, France and Turkey are currently the three most popular locations among overseas property buyers in the UK.


No responses yet

Mar 11 2008

New flights draw visitors to Cape Verde

Published by under Real Estate

More and more people are choosing to visit Cape Verde due to the introduction of direct flights, an expert has said.

Sarah Brown from said the country is currently attracting a record number of foreign visitors as it is now more easily accessible.

She stated that this has resulted in the creation of extra leisure facilities and amenities, such as supermarkets, bars and recreational outlets.

In addition, she said property in Cape Verde has also benefited from investment in various infrastructure improvements across the country.

This means the archipelago now offers the living standards and convenience demanded by foreign visitors.

As a result, it has become a popular choice for overseas property investors and second home buyers from abroad.

Ms Brown remarked: “Cape Verde has become something of a magnet for property investors.”

According to the Office for National Statistics, about 848,000 people from the UK currently own a second home abroad.

No responses yet

Mar 11 2008

Investors seek returns in emerging markets

Published by under Real Estate

Emerging markets are now seen as more lucrative investments than more established locations, a new study has found.

According to a report by the Urban Land Institute and PricewaterhouseCoopers (PwC), cities such as London and Paris are becoming less popular with foreign property buyers.

The British capital has fallen out of a list of the top ten locations for the first time in the history of the annual survey.

This coincided with a surge in the popularity of places such as Istanbul, where investors are optimistic about the chances of collecting strong returns.

John Forbes, head of real estate at PwC, said this showed there is an “increasing appetite” for emerging markets.

He told Bloomberg: ”Russia and Turkey are regarded in the same way as the India of Europe. They are top for economic growth.”

This comes after the Association of International Property Professionals revealed that the number of overseas transactions went up by 21 per cent to 240,000 last year.

No responses yet

Mar 11 2008

UK Buyers Favour Established Markets

Published by under Real Estate

The latest report published by the Association of International Property Professionals (AIPP) reflects that British buyers continue to purchase abroad, although their preferred locations contradict the negative media coverage on the more  established markets.

AIPP’s annual research report is possibly the only independent, authoritative and definitive market report of its kind in the UK. In its 2007 edition, the Association saw Spain come out on top, being the country where the most British buyers have completed overseas property purchases.

Spain is still popular with British investorsOver 25.4% of properties purchased by British buyers in 2007 were in the beautiful Spain. And although the country remains king to most UK buyers, the market in Spain is down 6.2% compared with 2006 figures

Established destinations continue to hold the top spots in the ranking; 17% of UK buyers chose property in France as their preferred purchase although this market has also seen a fall of 1.9% in 2007.

Surprisingly, third place went to theUSA with an increasing 9.7% of the UK buyers’ market share. Likewise, the country is the only established market augmenting its market share, up 2.2% from 2006. The figures correlate with those recently published by NAR, the American National Association of Realtors, who saw most internationals purchase real estate in Florida being carried out by UK citizens (33%).

AIPP comments: “It is clear that once again the established destinations are holding up well against the huge number of emerging markets.” With Spain, France and USA amounting to 52.1% of the market share, Paul Owen, Chief Executive of the AIPP, continues to explain: “When we add in other established markets like Italy, Portugal and Cyprus, nearly 2/3rds of property purchases last year were in established, familiar markets.” However, the last three countries appear in rankings 7-9, beaten by new emerging destinations.

The new kid on the block is Morocco, in 5th place, with a healthy market share of 4.9%. Dubai follows directly behind in sixth place although the emirate has been the overall winner, seeing the largest increase of UK market share, up to 4.8% from a mere 1.5% in 2006.

Finally, Mr. Owen concludes: “The market needs factual data. Previously, there has not been an official body with the time, knowledge and desire to produce information; the AIPP fills that void.”

No responses yet

Mar 10 2008

Turkish economy benefits from tourism

Published by under Real Estate

Tourism in Turkey is likely to be highly lucrative for its economy this year, an expert has predicted.

Murat Dedeman, head of the Turkish Tourism Investors Association, stated that the holiday industry is likely to generate revenues of more than £10 billion this year.

Speaking to Reuters, he said tourism revenues would be up on 2007 because the country is set to attract a greater number of visitors.

Mr Dedeman told the news agency that the amount could go up by as much as 12 per cent this year.

As well as boosting Turkey’s economy, this should be good news for those with a vested interest in the holiday industry.

For example, investors in rental accommodation will be able to enjoy higher returns if they receive greater demand from holidaymakers.

Mr Dedeman commented: “Turkey will have a good season”.

“People are talking about a recession but this does not have too much effect on tourism,” he added.

Turkey’s government is currently aiming to increase the annual number of foreign arrivals from 23 million to 50 million in the next 15 years.

No responses yet

« Prev - Next »