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Croatia Presses Ahead for 2013 EU Entry - Invest Now?

Tue, 12 Jul 2011 00:00:00 GMT

Croatia's lengthy negotiations to join the EU were finally concluded June 30 after just shy of 6 years (talks started October 3 2005). According to experts on the issue, this makes July 2013 a likely timeframe for Croatia to become the 28th member of the European Union. We all know that EU accession has a tendency to bring fantastic growth to property prices, so, with this now on the cards for Croatia should property investors one and all be booking flights to this Adriatic paradise?

Normally my answer to that question would be an almost unequivocal yes, but in the case of Croatia it is a yes with caveats.

What Makes Croatia Different?

Croatia has already had a day under the impeding-accession-sun. Everyone expected Croatia to achieve membership by 2008. As a result investors poured into the country thinking that this was their chance to make the gains seen by those who had invested in Estonia, Bulgaria and Ukraine as they headed for accession.

This caused prices to grow rapidly, and then the market suffered when Slovenia blocked Croatia's accession on the grounds that the agreement could be prejudicial to their dispute over borders. Its suffering was compounded by the international financial crisis.

Prices rise on EU accession because prices in the countries that are joining are usually much lower than the rest of the EU, and there is a natural balancing process of as people flow to and fro across the borders renting, buying and selling property. But Croatian prices are not that much lower than the rest of the EU because of the escalation already seen.

And it Still Might Not Join This Time

Even after Croatia signs the accession treaty, and if it is signed by all member states (including France and Austria), the Croatian government is putting it to a referendum. The Croatian people are a predominantly disillusioned bunch right now, and a lot of this is directed at Europe. However, most analysts agree that they are far more likely to vote yes than no.

What, So We Shouldn't Invest Then?

To say that we shouldn't invest in Croatia would be foolhardy; in fact we can't even say that the opportunity is less significant than it was in 2007. Like most of Europe, Croatia property prices have crashed. The tourism sector didn't fare too well either, but things are picking up now. Global tourism is once again growing, the global population is growing and no one likes an overcrowded beach, even if it is on the Mediterranean coast. Thus more and more tourists are spreading out from the hotspots causing continually rising tourism in places like Croatia.

As I always say and especially now, property investments should be looked at on the strength of individual opportunities, not countries. If you can get in and buy a top quality villa on the Mediterranean Coast at a bargain basement price it will enjoy rising occupancy as the tourism market grows. Buying at a low price into a property with rising yields makes it a near certainty that it will grow in capital value as well.

Article supplied by Liam Bailey on behalf of Novrealty, an overseas property agent with a difference; a company focussed on making buying property abroad as easy as it should be.

Turkish Property has Benefited from the Crash

Fri, 29 Oct 2010 00:00:00 GMT

Turkish property was getting popular during the overseas property boom, but it was struggling amidst the competition. In this, the crash has actually benefited Turkey, allowing the rewards of its years of reform to shine through by knocking out its European competition.

The European landscape has changed a great deal since the credit crunch started. All of Europe’s established markets are experiencing sluggish growth, especially when compared to the emerging markets within Europe, and especially when compared to Turkey.

The main problem is liquidity, almost all banks in established markets have gotten bombarded with defaults and even now many European banks, including banks in Germany and France are thought to be concealing the true level of toxic loans on their books.

Within these established markets, many of them are caught up in the sovereign debt crisis, which is making them an investment no no.

Greece, Spain, Portugal and Italy were all competing for the attention and Euros of overseas property buyers. Now, they have massive budget deficits of up to and over 10% (13.6% of GDP, 9.49%, 9.6%, and 9.3% respectively as of 2009 estimates), and are facing the necessity of imposing harsh austerity measures on their respective populations.

In order to do this, Greece, which is the most in trouble has had to increase taxes on property severely. This has put buyers off even more and increased supply by making many owners want to sell up.

Portugal should also consider raising property taxes says the Organisation for Economic Cooperation and Development.

The ratings agencies have penalised Greece and Portugal heavily for the state of their economies; they have been downgraded several times.

Meanwhile Turkey is in much better shape:

Because of the reforms made to the Turkish banking system in the wake of the 2001 economic crisis; reforms specifically aimed at making the banks more resilient to economic crises, the Turkish banking system was less exposed to the effects of the global financial crisis.

So while liquidity is constrained in most countries in Europe and around the world, liquidity is high in Turkey, and lending is loose, especially compared to the tightened credit in the UK, Europe, the US and those countries worst affected by the global downturn.

On top of that years of reforms are paying off, especially those since 2002:

Since coming to power in 2002, Erdogan’s AK party has intensified Turkish reform, including major anti-corruption laws, which included several pro-EU reforms like giving EU courts supremacy in Turkey. The main thing now making property in Turkey more popular though, is the way Erdogan has turned the Turkish economy from an unstable mess with high inflation, to a solid, stable economy with strong growth, high liquidity and a strong fiscal base.

When the AK party took power in 2002, the country was in an economic mess, following the Turkish economic crisis of 2001. Since then the party has completely turned the economy around, including:

Reducing Turkey’s debt to the International Monetary Fund from $23.5 billion to $7 billion

Increasing Central Bank reserves from $26.5 billion to $72.5 billion

Reducing public debt from 74% of GDP to 39% of GDP

Reducing inflation from 34.9% to 5.7% the lowest level in 39 years.

Because of this, the low interest rates in Turkey are not just a knee jerk reaction to the financial crisis, but wise fiscal management of a low inflation environment. This tightening and reform by the AK party has paved the way for Turkey’s current fiscal landscape and strong growth.

The Turkish budget deficit stood at around 5% in 2009 and is thought to have fallen this year. Meanwhile gross domestic product grew 11.7% y-o-y in Q1 2010, and 10.3% y-o-y Q2 2010. This took overall growth to 11% for the first half of 2010. Turkey is one of the few countries in the world to have had its debt upgraded by the ratings agencies since the downturn began.

The strengths of Turkey are standing out against such a dire economic backdrop.

Article written by Aydin Cakir – Director of New Home in Turkey. Antalya property agency offering properties accross Turkey.

Parts wants to bring in Russian tourists with tax-free shopping

Fri, 27 Mar 2009 00:00:00 GMT

Tax free limit, which was applied at the beginning o the year, increased tourists’ interest so remarkably that Juhan Parts, the Minister of Economic Affairs and Communication thinks that the limit could be lowered more, Eesti Päevaleht reports..

Only in London tourism campaign announced by Boris Johnson

Tue, 24 Mar 2009 00:00:00 GMT

Boris Johnson, the mayor of London, has announced a new £2m marketing campaign for the capital. 'Only in London' aims to boost overseas visitor numbers to the city.

Johnson unveiled the details of the Only in London campaign yesterday on the London Eye, according to TravelWeekly. The announcement came on the first day of British Tourism Week, when Johnson also launched Only in London 100 - 100 examples of what makes England's capital an unequalled tourist destination.

Only in London, which will benefit owners of London apartments by attracting more holidaymakers to the city, has been developed taking visitors' wishes into account. Recent research into London's visitor market revealed that people were keen to visit the city but were concerned about expense.

Announcing the campaign, Johnson said: "As well as the massive choice of things to do and see, our overseas visitors will find London even greater value for money today. They'll see that their travel budget buys so much more in London and the only limit to their enjoyment will be not having enough hours in the day to fit it all in."

Only in London is expected to generate a further £60m for the city's economy by the end of 2009. The campaign will be officially launched in the UK at the end of April. It will then be extended to target overseas markets in Europe and North America during the summer.

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

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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.

Global M & A volume reaches $3-trillion mark

Tue, 21 Oct 2008 00:00:00 GMT

Though the global M & A volume has reached a whopping $3 trillion mark, it represents a decline of 22 per cent from its year ago period, as all regions except Latin America reported decreasing M & A volume, according to data compiled by deal tracking firm Dealogic...

Keen investors still entering overseas property market

Fri, 17 Oct 2008 00:00:00 GMT

Dedicated foreign property buyers are continuing to snap up residences in other countries, an analyst has stated.

According to Mark Bishop of A Place in the Sun magazine, there are fewer people around spending about £40,000 or £50,000 on a house.

This, he stated, is partly because the credit crunch has restricted people's finances, leaving the way open for more affluent buyers with greater disposable income.

Mr Bishop commented: "What we have got delivered in this current market is the keenest of the keen."

He described this group as people who are "perhaps" a more sophisticated type of buyer, who probably have greater wealth and specialist knowledge.

Mr Bishop added that the many of them are also likely to be a little bit older than those who bought foreign property prior to the credit crunch.

According to Cater Allen Private Bank, more than three million people are expected to buy a property overseas within the next two years.

Investors seeking advice to secure their investments

Thu, 16 Oct 2008 00:00:00 GMT

In response to the global financial crisis, naseba and the Council of Saudi Chambers of Commerce and Industry have decided to add two exclusive panel discussions to the program of the Real Estate Investment World Summit. The discussions will focus on the state of that crisis and its impact on the Middle East markets and respond...

Asian stocks, ASX fall as US Senate approves bailout

Thu, 2 Oct 2008 00:00:00 GMT

In response to the US Senate passing the financial bailout bill, the ASX and Asian markets have fallen...

Investors could make money overseas

Sat, 20 Sep 2008 00:00:00 GMT

Prospective property buyers have been advised that investing overseas could be highly lucrative.

According to A Place in the Sun Live, foreign property investors could potentially benefit from the current economic downturn.

Mark Bishops, investment expert at the group, said this is because the credit crunch has forced prices down in many popular locations.

Therefore, buyers could be able to snap up a bargain before the market picks up again in the future.

Speaking to Property Wire, he commented: "I believe that the credit crunch offers an opportunity for people to invest in property abroad at some of the best prices in a generation."

Mr Bishops stated that those with the necessary finance should "seriously think" about taking advantage of the current situation.

Consumers were urged not to let the "negative vibe" put them off investing overseas.

According to a study by Savills and Holiday-Rentals, people from the UK now own 425,000 foreign properties.

Estimates suggest that these are collectively worth in the region of £58 billion.

Rental investors advised to make the most of their property

Sat, 20 Sep 2008 00:00:00 GMT

Owners of rental accommodation overseas have been urged to try to maximise its full potential.

According to AccessibleAccommodation.com, property owners need to consider a number of issues in order to attract the highest possible number of people.

For example, the website stated that many holidaymakers may have mobility problems and would therefore need to be catered for, reports NuBricks.com.

Buy-to-let investors were also encouraged to market their property to niche groups such as elderly travellers, partly because they often travel out of season.

Therefore, property owners could potentially collect healthy rental yields during relatively quiet periods.

AccessibleAccommodation.com said: "It is important to ensure that your real estate investment maximises the returns it generates."

This comes after Sarah Chambers of Holiday-Rentals told the Independent that rental investors should 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.

Who will gain from weak rouble?

Tue, 16 Sep 2008 00:00:00 GMT

Russian rouble is becoming weaker. Who will gain from it?...

Market closes down 1.4pc on global fears

Tue, 16 Sep 2008 00:00:00 GMT

The share market has fallen for a second day in a row with investors fearing more upheaval in the US financial sector...

Holiday homes still popular with lifestyle buyers

Tue, 16 Sep 2008 00:00:00 GMT

The credit crunch is not putting lifestyle buyers off purchasing an overseas property, an expert has stated.

According to Jacqui Daly of Savills, over-50s in particular appear to be very keen on the idea of spending time in a holiday home abroad.

Speaking to the Guardian, she said this is because many in this age group have plenty of equity and do not need to take out a mortgage.

"They're still heading for the sun," she commented.

"Lifestyle buyers just want to relax and don't worry about renting out or selling for a profit."

Indeed, Ms Daly has predicted that the recent changes in the economic climate could lead to lifestyle buyers dominating the overseas property market in the near future.

According to a study by Savills and Holiday-Rentals, people from the UK now own 425,000 foreign properties.

Estimates suggest that these are collectively worth in the region of £58 billion.

World shares fall amid US turmoil

Mon, 15 Sep 2008 00:00:00 GMT

Share prices in Europe and Asia fall sharply in the midst of the financial turmoil in the US over the fate of Lehman Brothers...

Bald audacity of NZ airline

Thu, 11 Sep 2008 00:00:00 GMT

Air New Zealand is seeking bald fliers to use as "cranial billboards"...

UAE economy set to keep growing

Thu, 11 Sep 2008 00:00:00 GMT

The economy in the United Arab Emirates (UAE) has been tipped to keep growing this year by Merrill Lynch.

According to the organisation, factors such as strong oil prices and a boom in the construction sector are likely to lead to an increase comparable to that in 2007.

Estimates suggest that the UAE's economy will expand by approximately 7.2 per cent this year - down from 7.4 per cent in 2007.

Merrill Lynch believes this could herald the start of a slight drop-off in economic growth as Dubai's economy is close to becoming "overheated".

The organisation said the government is keen to ease pressure on the real estate sector in particular in order to curb inflation fears.

This comes after the UAE was recommended to foreign property buyers by Jo Sinnott, host of Real Estate TV's Next Big Thing Series.

Speaking to Property Wire, she said areas such as Dubai and Ras Al Khaimah offer various opportunities to investors.

Visit our off-plan property United Arab Emirates page

Economic gloom depresses the euro

Thu, 11 Sep 2008 00:00:00 GMT

The euro hits a fresh one-year low against the US dollar on renewed worries about the health of the European economy...

Top Peruvian gold miner eyes acquisitions in Latin America

Wed, 10 Sep 2008 00:00:00 GMT

Lima and New York quoted Buenaventura sees opportunities for acquisitions in the company’s main areas of expertise in Latin America in the current financial climate...

Asian markets down, KLCI dragged by plantations

Wed, 10 Sep 2008 00:00:00 GMT

Asian markets got off on a weak start on Wednesday as sentiment took a blow from the sharp overnight fall on Wall Street even though oil continued to ease to US$102.23 per barrel...

Dollar rises to 1-year high against major currencies

Tue, 9 Sep 2008 00:00:00 GMT

Tuesday, September 09, 2008 LONDON: The dollar surged to a one-year high versus a basket of currencies on Monday, recovering from a knee-jerk slide after the US government took control of Fannie Mae...

Where U.S. home prices are likely to rise

Mon, 8 Sep 2008 00:00:00 GMT

Believe it or not, in the future people will be buying and selling homes in the United States. Some of them will even make a profit...

Rights Issue to Spur ABCH Growth

Mon, 8 Sep 2008 00:00:00 GMT

Emerging banking giant, ABC Holdings, is set to transform itself into a true pan-African bank following the tabling of its US$150 million rights issue towards opening subsidiaries in new markets as well as the retail expansion...

ECB Must End Euro's Wild Rise

Mon, 8 Sep 2008 00:00:00 GMT

The downturn of economic activity in the eurozone has come as a surprise to many observers. The credit crisis appeared to be less severe in the eurozone than in the US and, apart from Spain and Ireland, none of the eurozone member countries experienced serious problems in the housing market. Yet the eurozone now comes close to a full-fledged recession. What happened to cause such a rapid and intense deterioration in the eurozone business cycle? The key to answering this question is the exchange rate of the euro.

From the start of 2007 until July 2008 the euro appreciated by about 14 per cent on average against its main trading partners. This exchange rate shock came on top of a protracted appreciation in the preceding five years. The second shock hitting the eurozone was the doubling of crude oil prices since early 2007.

The effect of the exchange rate shock on the profitability of the eurozone companies that compete internationally has been of the same order of magnitude as the oil price shock. Take an average eurozone exporting company selling a product worth €100 ($144, £81). Energy costs prior to the oil price shock represented €10. Now comes the doubling of oil prices leading to a doubling of the energy costs to €20. This would squeeze profits by the same amount, unless the company could raise its price in foreign markets. But let us assume the exporting firm "priced to market" so as not to lose market share.

Now let us look at the implication of the appreciation of the euro during the same period. Our prototype exporting company has experienced a drop in revenues of 14 per cent; that is, the euro value of its export dropped from €100 to €88. This squeezed profits even more than the doubling of the oil price. Our company recuperated part of the revenue loss because the euro appreciation led to a drop in the euro price of oil, reducing the energy cost. But this effect was small given that the energy costs are a relatively small fraction of the total value of the product.

There are many other effects of these two shocks, but they all point to the same conclusion. Since the start of 2007 the export sector in the eurozone has been hit by a twin shock - an oil price shock and an exchange rate shock - of approximately equal magnitudes. These two shocks squeezed profits of exporting firms twice.

The opposite has happened in the US since the start of 2007. The effect of the oil price shock on export companies' profitability was fully compensated by the depreciation of the dollar, which on average amounted to 11 per cent against the big trading partners. Thus the dollar depreciation allowed the US export companies to offset the profit squeeze resulting from higher oil prices. No wonder that the US export sector is booming and the exports of the eurozone countries are stalling.

The oil price shock was an event that eurozone policymakers could not influence. The same cannot be said of the exchange rate shock. This occurred because the eurozone monetary authority, the European Central Bank, allowed it to happen. The simple fact is that the ECB neglected the exchange rate. The ECB was influenced by a theory that says that exchange markets are efficient and that therefore the exchange rate always reflects economic fundamentals. In this view it is both undesirable and futile to fight market forces, which are always right. In addition, the ECB managed to sell a minimalist interpretation of its mandate. In this view, the ECB is responsible only for price stability. Only if exchange rate movements threaten price stability are they worth looking into.

Since 2001, the euro has more than doubled in value against the dollar. This appreciation can be interpreted only as a bubble driven by speculation gone wild. During the whole period of massive euro appreciation, the ECB stood by and watched approvingly. It did not threaten price stability so there was no reason to do anything.

This neglect harms the competitiveness of the eurozone export sector and is an important cause of the slowdown in economic activity. The ECB has abdicated its responsibility to intervene in the foreign exchange market and to oppose exchange rate developments that are out of touch with economic forces. It is time to revise this minimalist view of its responsibilities. One way the ECB could do this today is by giving a forceful signal (including intervention) aimed at reinforcing the recent small downward correction in the value of the euro.

Story from FT.com

Families should book trips abroad soon

Sat, 6 Sep 2008 00:00:00 GMT

Leisure travellers who have decided when they plan to head abroad next year have been advised to book their trips sooner rather than later.

According to Which? Holiday, a number of tour operators are cutting back on the number of holidays they are offering next year.

Therefore, families who delay booking in their hope of snapping up a bargain could end up missing out if they leave it too late.

Lorna Cowan, editor of Which? Holiday, commented: "For families wanting to get away next summer with specific destinations in mind, we recommend booking in the next month or so to avoid disappointment."

However, she added that if people can be flexible with their destination and dates, it could be worth waiting to see what late deals emerge.

Meanwhile, FairFX.com has encouraged people who are travelling to the eurozone to get their currency as soon as possible.

This is because the pound has fallen to a record low against the euro, which means further drops could make trips to the region more expensive.

Investors need to be levelheaded

Fri, 5 Sep 2008 00:00:00 GMT

Overseas property buyers have been advised to remain calm when looking at prospective purchases and not to be swayed by hype.

According to Shelter Offshore, there is currently an "overwhelming amount" of positive press relating to buying abroad, despite the ongoing economic slowdown in the UK.

Therefore, people who are planning to snap up a foreign residence have been encouraged to be level-headed when reading promotional material from companies who are desperate to sell their stock.

Shelter Offshore commented: "One has to be wise and savvy when it comes to considering buying property abroad - no matter which property in which country."

The online portal added that investors should apply common sense when looking at possible acquisitions and look beyond a company's "marketing magic".

Earlier this week, Investec Private Bank revealed that the slowdown in the British housing market has dented the appeal of the country among many top-end buyers in the UK.

Therefore, a growing number are turning their attentions toward prime areas in countries such as Italy and France.

Learning language could enhance time abroad

Thu, 4 Sep 2008 00:00:00 GMT

Overseas leisure travellers could get more out of their time abroad if they learn the native language, according to an expert.

Arthur Hoffman, managing director of Expedia Asia Pacific, stated that being familiar with foreign tongues could enhance the experience of being in another country.

He said that as well as helping people to enjoy the culture of their destination, good linguistic skills could also boost a person's job prospects.

Mr Hoffman commented: "Having a second language is associated with being well-educated and is helpful for advancing career opportunities."

He was speaking after research by Expedia Asia Pacific found that 64% of Australians only speak English, despite 76% believing that knowing another language could enhance time spent abroad.

Earlier this week, a study commissioned by the British government revealed that nearly three-quarters of young people would like to live and work overseas.

However, the research also showed that most 11 to 18-year-olds are not fluent in a second language, despite their desire to move to non-English-speaking countries such as Spain.

Visit our off-plan property Spain page.

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.

Boeing workers decide to strike

Thu, 4 Sep 2008 00:00:00 GMT

Assembly workers at Boeing have voted to go on strike following a dispute over pay and benefits...

African Real Estate: A Scary Reputation but a Good Market

Wed, 3 Sep 2008 00:00:00 GMT

Mention Africa and watch people cringe. The news coverage on the continent is disproportionately about turmoil caused by diseases, vicious wars and dictatorships. Troubled countries abound: Zimbabwe, Sudan and Somalia are all making news for the wrong reasons. Natural disasters such as floods and...

Eurozone economy shrinks by 0.2%

Wed, 3 Sep 2008 00:00:00 GMT

Lower private spending and investment prompted the eurozone to contract in the second quarter, data shows...

Green Investing Gold Rush

Tue, 2 Sep 2008 00:00:00 GMT

The “green rush” is on. From large to small investors, the financial community is mining for green investments, making them one of the fastest-growing areas of the market. Billionaires and millionaires are pouring trillions of dollars into green companies, while smaller investors are putting...

Amid Housing Crisis, Mortgage Fraud Continues

Mon, 1 Sep 2008 00:00:00 GMT

Mortgage fraud is not only a continuing problem amid the housing crisis; it's actually becoming worse, according to a recent report by the Mortgage Asset Research Institute (MARI). Mortgage fraud is blamed as one of the factors that brought about the housing market's downturn, and a 42 percent...

Peer-to-Peer Lending Platforms: A Quick Guide

Fri, 29 Aug 2008 00:00:00 GMT

The emergence of the peer-to-peer lending market is a relatively new phenomenon, but over the course of only a few years, the financial steam engine has originated hundreds of billions of dollars in loans and connected millions of private borrowers and lenders. The industry is rapidly growing, but...

Dollar increases against the euro

Tue, 26 Aug 2008 00:00:00 GMT

The dollar climbs towards a six-month high against the euro, as fears remain about a European recession...

Asset Location in an Investment Portfolio

Mon, 25 Aug 2008 00:00:00 GMT

Location, location, location—that’s what it’s all about in real estate, and in retail and other traffic-sensitive businesses. But how important is the location of assets within an investment portfolio? For some investors, the question crops up each year when it’s time to rebalance...

Technology 'good for expats'

Fri, 22 Aug 2008 00:00:00 GMT

Modern technology has been praised for helping to improve the lives of people who have relocated abroad.

According to NatWest International, many expats find missing friends and relatives at home is the only downside of living overseas.

However, head of the organisation Dave Isley said this problem has been partly overcome by various technological advances in recent years.

For example, he stated that the internet has allowed expats to speak to people at home on a regular basis, while cheap airlines have made it easy to visit loved ones in person.

Mr Isley commented: "International Brits are able to seek a better quality of life abroad in the sun but at the same time can keep in touch with good old Blighty."

He was speaking after a poll by the company found that the majority of British expatriates do not have any regrets about moving abroad.

This comes after a report in the Telegraph stated that many people in the UK are thinking of packing up and leaving for another country.

This was largely attributed to the current state of the British economy, which has led to increases in the prices of groceries, fuel and other necessary expenses.

Web Booms As High Street Slumps

Wed, 20 Aug 2008 00:00:00 GMT

The credit crunch and rising inflation are taking their toll on the High Street - but online retailers are booming, a new report says...

Seafront property 'immune to crunch'

Tue, 19 Aug 2008 00:00:00 GMT

The seafront property market is unlikely to be harmed by the credit crunch, an investment expert has said...

International estate agent group announces first award finalists

Tue, 19 Aug 2008 00:00:00 GMT

The Association of International Property Professionals has announced the finalists for its first-ever awards recognizing different aspects of customer service. The non-profit AIPP is an industry group for international estate agents, who voluntarily agree to follow a code of conduct. The group’s stated goal is to promote “the highest standards of professionalism in the overseas property...

Retirees advised to check finances

Sat, 16 Aug 2008 00:00:00 GMT

Prospective expatriates who are planning to retire abroad have been urged to check their finances first.

Funds analyst Moneyspider.com stated that many people are returning home from their summer holidays with a desire to move overseas on a permanent basis.

However, the organisation has warned that factors such as the strong euro and the economic decline in the UK could potentially impact on their plans.

Therefore, retirees who have opted to relocate have been encouraged to make sure that such a move is within their financial reach.

Tony Ahearne, spokesperson for Moneyspider.com, said: "There’s no reason why anyone with sufficient funds to invest shouldn’t enjoy a happy, secure retirement overseas."

He added that if people want to achieve this goal, they need a "watertight" back-up plan in order to ensure their money is working as hard as it possibly can.

According to the Institute for Public Policy Research (IPPR), more than three million pensioners will be living abroad by 2050.

IPPR researcher Jill Rutter recently told the Guardian that growing prosperity has fuelled migration from the UK in recent years.

AIPP names awards shortlist

Fri, 15 Aug 2008 00:00:00 GMT

Trade body says the process is an important step in improving the market...

Eurozone edges towards recession

Fri, 15 Aug 2008 00:00:00 GMT

The eurozone moved closer to recession yesterday after it emerged that the economy contracted in the second quarter for the first time since the euro’s launch...

Recession Fears Grow In Eurozone

Thu, 14 Aug 2008 00:00:00 GMT

The eurozone economy has shrunk for the first time since records began 13 years ago...

MEA secures new aircraft with loan from Lebanese bank

Wed, 13 Aug 2008 00:00:00 GMT

The Lebanese Canadian Bank granted the Middle East Airlines (MEA) a loan of $65 million to buy a new Airbus plane as part of the company's plan to expand its fleet...

Expats need to be financially prepared-080808

Fri, 8 Aug 2008 00:00:00 GMT

People who are planning to relocate to another country have been advised to make sure they are financially prepared for such a move.

According to Shelter Offshore, many prospective expatriates are unable to fulfil their ambitions because they have not got enough money.

Therefore, the website has encouraged those who wish to live abroad to plan their finances early.

In addition, it has also suggested that people make sure they have some means of generating an income while overseas.

Shelter Offshore commented: "If you can't afford to live there without financial problems then paradise will be a fog behind the nagging worries about bills and how you're going to manage."

The online portal added that people who address this issue before moving stand a much better chance of improving their quality of life in the long run.

According to Jill Rutter of the Institute for Public Policy Research, Britons are increasingly moving abroad because they are more affluent than in the past.

She told the Guardian that a record number of people are choosing to relocate overseas each year.

US house figures in surprise rise

Thu, 7 Aug 2008 00:00:00 GMT

The US sees an unexpected increase in agreements to buy homes in June, according to a real estate organisation...

Eurozone rates on hold at 4.25%

Thu, 7 Aug 2008 00:00:00 GMT

The European Central Bank maintains eurozone interest rates at 4.25% after its latest meeting...

Africa is the next emerging market-070808

Thu, 7 Aug 2008 00:00:00 GMT

Africa has been tipped to experience considerable growth in its housing market over the next few years.

According to property developer Kensington Real Estate, the continent is an emerging destination which offers numerous opportunities.

The company refuted the image of a politically unstable region which has been put across by the media, saying this perception has been "over-hyped".

Indeed, company director Ashish Thakkar has described Africa as a fresh and new market which is set to see millions of pounds worth of investment in the near future.

He commented: "The whole of Africa is booming.

"We're trying to create a brighter, more positive impression of Africa as a whole."

The comments may be of interest to people who have interests in emerging African markets such as Morocco.

Overseas property investors were recently advised to look at the Moroccan market by Fleewinter.com, which said buyers could be able to cash in on growing tourism in the country.

Visit our off-plan property Morocco page

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.