Real Estate & Rental & Lettings News in All from Propertyshowrooms.com

Madonna & Jesus Luz renting luxury Florida villa

Wed, 18 Mar 2009 00:00:00 GMT

Madonna and current boyfriend Jesus Luz are renting a mansion in Florida. The singer is leasing the property in Wellington for a month and is also said to be looking for a new home in the Palm Beach area.

The luxury villa in Florida where Luz, Madonna and family are rumoured to be living measures 6,277 square feet, according to the Real Estalker blog. The property, which costs US$50,000 per month to rent, also has a separate guest house.

The six bedroom Florida rental property overlooks the golf course at the Palm Beach Polo and Country Club and has a covered terrace, swimming pool, spa, pavillion and outdoor kitchen. The interior of Madonna's temporary home is thought to have been furnished by a top New York designer.

Madonna is reported to have been spending increasingly more time in the Palm Beach area and is thought to be looking to buy a new property there. She previously owned a property in Florida's Miami Beach area. The singer, who recently split from husband Guy Ritchie, was also rumoured to be buying a Manhattan townhouse for US$38m.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 for holiday homes worldwide.

Rental property needs to stand out

Thu, 4 Sep 2008 00:00:00 GMT

Owners of rental accommodation overseas have been urged to make their properties stand out when promoting it online.

According to Sarah Chambers of Holiday-Rentals, it is a good idea for investors to market their residence to consumers on the internet.

She stated that advertising on their own website would be beneficial to property owners, along with displaying their homes on other online portals.

Speaking to the Independent, she said this would help ensure that an investor's property is visible to prospective visitors.

Ms Chambers commented: "You need to advertise somewhere where you'll definitely be seen."

She added that property owners need to display "great" photos and descriptions of every room, along with information on available facilities and the surrounding region.

According to market research group Datamonitor, people in the UK and Ireland currently own more than 3.8 million overseas properties.

Glamorous beach resorts and their affordable alternatives

Wed, 6 Aug 2008 00:00:00 GMT

Beachside homes in glamorous resorts are always in demand, but how far will your money go? Property investors who can't quite afford bricks and mortar in the hotspots still have plenty of up-and-coming areas nearby to choose from.

The Times selects its favourite beach resorts and explains what overseas property investors can get for their money.

St Tropez. This is "the place to see and be seen", meaning that property comes at a premium; the average price is about £8,000 per square metre. If this is out of your budget then consider St Raphael or Ste Maxime. Just across the Gulf of St Tropez, property in these locations is about half the price and just 15 minutes' away by boat.
Costa Smeralda. The north-east corner of Sardinia is "one of the world's most prestigious holiday spots"; Roman Abramovich bought a villa there for £24m last year. The discreet villas are very expensive with prices starting at approximately £2.4m. Just a few miles in either direction the prices drop sharply and the beaches and scenery are just as beautiful. The northern coastline is one of the most affordable areas, although investors need to factor in buying costs and an annual "luxury tax" for non-residents.
Seychelles. Until recently it was almost impossible to buy there but the Seychelles' government has opened up property ownership to foreigners via certain developers. "Competition is fierce" and prices are high. Most developments are leasehold but ownership in a big development usually confers residency rights.
Bondi Beach. Bondi Beach in Sydney is gradually "moving up in the ranks" from its reputation as a paradise for "surf dudes". Property on the beach could cost between £4m and £6 but prices are a lot lower a few blocks back. If you definitely want a beach view then you should head further south to suburbs such as Tamarama where beach properties are more affordable. Non-residents buying in Australia need to have their purchase approved by the government and buy through a state-approved specialist.
Ipanema Beach. Ipanema "has long been one of Brazil's most exclusive enclaves and one of the most expensive places to live in Rio de Janeiro". Beachfront property costs about £3,800 per square metre but prices in Copacabana are about half that. The Bahia region, north of Rio, is less hectic and plots of ocean-facing land are available from £200,000.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Bodrum peninsula is Turkey's answer to St Tropez

Tue, 29 Jul 2008 00:00:00 GMT

Turkey's Bodrum peninsula has been recommended to overseas property investors. Described as Turkey's St Tropez, the Bodrum peninsula was once the haunt of artists and intellectuals, but it is now a firm favourite with second home owners.

The jewel in the crown of Turkey's Turquoise Coast, the "fat fist" of the Bodrum peninsula found fame on television's 'A Place in the Sun' programme, reports The Financial Times.

Network Turkey, which represents UK estate agents and construction companies, explained the attraction of the area: "The climate is wonderful and likewise the food and hospitality. And it has a fascinating history." The paper adds that "Turkey has more Greek monuments than Greece and more Roman sites than Italy" and Bodrum in particular boasts over 5,000 years of stories.

There are several overseas property investment opportunities for those interested; from apartments and villas near Bodrum marina to small, exclusive developments outside of Bodrum town. Investors should note that earthquake insurance is compulsory and if you are buying anywhere that overlooks a Greek island, therefore deemed militarily strategic, all foreign nationals must apply for military permission to check that the title is not in a restricted area.

The Bodrum peninsula is home to a third-century BC amphitheatre and the underwater ruins of the ancient city of Myndos. Meanwhile, Bodrum town's marina with "super-sleek yachts bobbing" in the water is in stark contrast to the region's historic monuments.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.
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Tax advice for beating the credit crunch using your home

Mon, 21 Jul 2008 00:00:00 GMT

Homeowners looking for a way to protect themselves from the credit crunch can use their property to their advantage, new advice suggests. Tax relief on mortgage interest and entering the holiday lettings market are among the suggestions from The Times.

There are some practical ways of making your finances tax-efficient and reducing the impact of record inflation. Advice from the paper includes:

Entering the holiday lettings market. Use your second home to your financial advantage and set it up for "furnished holiday letting". This is an ideal solution for those who don't want to sell their property in the current market. The property must be available to let for at least 140 days in the year and let for a minimum of 70. Holiday homes benefit from favourable Capital Gains Tax (CGT) and Inheritance Tax (IHT) treatment.
Avoid Capital Gains Tax on your second home. Profits made on the sale of your holiday home or buy-to-let property are subject to CGT at 18 per cent, although profits made on your main residence are free of tax. There are ways you can help yourself. If you lodge a "principle private residence" (PPR) with the taxman within two years of purchasing a second home, you can vary this choice in the future in favour of another property. This means that if you make a healthy profit from selling your holiday home you can vary your PPR from your main residence to your second home , and then change it back again immediately once the sale has been completed.
Getting tax relief on your mortgage interest. This is particularly effective if you run your own business. If you have a mortgage, your spouse can sell you shares equal to this amount in your private family company. You can take out a loan to cover this cost and use the proceeds from the share sale to clear your mortgage. Because you have borrowed money for acquiring shares in a private family firm, the full amount of interest on the borrowing qualifies for tax relief at your highest marginal rate. This means interest payments can be set against your other income, which could make you big savings. There is no CGT to pay on share disposals between husband and wife.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.