Homes Overseas Release New Guide to Buying Property on the Costa del Sol

Homes Overseas, the leading overseas property experts, have
announced a new guide to buying property in the Costa del Sol titled
Buying Property on the Costa del Sol Still has Many Benefits. The guide
has been written in the form of an article and has been sub divided
into various sections for ease of reading and comprehension. The full
article can be viewed at http://www.homesoverseas.co.uk/articles/buying-property-on-the-costa-del-sol-still-has-many-benefits/14755

The article begins with highlighting the warm weather and the
activities in the region that include golfing and international schools
for expat children. The article then looks at where the majority of
people have been buying property in the Costa del Sol and why they have
bought a property.

The second part of the article looks at the state of the Spanish
property market and how it has affected Costa del Sol in particular.
Although there was a 'price wobble' it is believed to be more of a
price correction and explanations have been expressed by two Managing
Directors of properties in the Costa del Sol. The same section includes
links to articles about the Spanish property market and buying property
on the Costa del Sol. A rationale is then given as to why the Costa del
Sol is now a buyers' market and how some real bargains are now
appearing.

The third part of the article looks at capital growth on properties on
the Costa del Sol. Although nobody knows whether the capital growth
will continue, the future is considered optimistic, which includes new
infrastructure and steps being taken in certain areas to prevent future
overbuilding. Lastly the article covers the optimism that is felt for
the future of property investments in the Costa del Sol.

Irish property buys in India cancelled over stricter laws

27 Jul, 2008, 1226 hrs IST,
IANS

LONDON:
An overseas property agent has returned deposits of Irish buyers who invested in
properties in India on the ground that tightened laws made it difficult for
people of non-Indian origin to buy immovable properties
there.



The move by Ireland's
well-known international property dealer Larionovo was prompted by concerns over
the ability of the buyers to repatriate
funds.



India has attracted
overseas property investors because of its rapidly expanding economy and the
fact that prices are low by Western standards. Earlier this year, authorities in
Goa moved to ban the sale of land to foreigners amid concerns about the amount
of property being purchased by non-Indians. But it is not clear whether the
properties concerned were in Goa or elsewhere.




Larionovo began marketing
units in three schemes in India in the spring of last year. Two of the schemes,
Green Hill and Green Valley, are located south of the business capital of
Mumbai. The third, Cape Corinth, is in the holidayers' paradise of Goa.




Prices ranged from 29,250
Euros (nearly $46,000) for a studio at Hill View to 52,000 Euros for a
one-bedroom unit in Cape Corinth.




One investor who paid a
deposit on a property at the end of last year said he received a letter from
Larionovo stating that there were possible issues surrounding the repatriation
of funds and that the company was examining the situation. Some weeks later, he
was informed that the firm had decided to return his funds. He has now received
all of the money due to him.




In a statement issued to The
Sunday Business Post, Larionovo said that "due to the tightening of regulatory
and governmental controls on foreign nationals of non-Indian origin (residents
outside India) purchasing immovable property, Larionovo has decided that it
would not be prudent for their clients to complete the purchase of their units
in India".



At this point,
Larionovo approached the developer with its concerns and began negotiations to
ensure that the client's interests would be protected, the statement
said.



"Larionovo has secured an
agreement that the developer will take back all the units from the clients,
refund all payments made by the clients to date, absorb any losses incurred as a
result of currency fluctuations, and provide a return on the client's
investments."



However, some
other property companies are pressing ahead with sales of Indian properties to
Irish investors.



Kieran
Murphy, managing director of Kuvera India, which has sold a number of properties
in the Rudrapur region in Uttarakhand to Irish investors, said he was satisfied
there were no obstacles to buyers repatriating funds from the
country.

Strong demand for foreign property despite credit crunch

With UK house prices soaring, the last decade has seen many property
buyers focus on foreign markets, a trend which is likely to continue
despite the current economic conditions according to research from
Savills and www.holiday-rentals.com reported by the Daily Telegraph.

The impact of the credit crunch on the British housing market has raised
concerns that foreign property might be the next victim, as new buyers
will be hit by both tighter mortgage lending conditions and rising fuel
costs.

Buyers are usually younger and not afraid to
invest in new-builds in new locations such as Bulgaria, Morocco or
Turkey or city hot spots like Prague or Dubrovnik. They buy their
property with the intention to rent it out and make as much money as
possible before they sell it on.

However, these investment buyers are often not affluent and have taken out large
mortgages, some over 90 per cent of the property's value. They are
therefore heavily reliant on the income they generate by letting the
property out.

Although the research suggests that the investment market has diminished slightly, Savills believe that the demand for foreign property will change, but not collapse entirely.

Savills researcher Jacqui Daly told the Telegraph:
"We will see a return to the traditional use of the holiday home as a
lifestyle choice, and that demand will actually rise in the near future.

"Our survey showed that 18 per cent of people are buying for their
retirement," she revealed. "There are vast numbers of over-50s and
over-60s wanting homes overseas, often in traditional areas such as
Spain.

"Demographics show there are many more of these to
come. They have a lot of equity in UK homes, so most won't need to
borrow at all."

Also, the increase in fuel prices has not had
a huge impact on foreign property owners so far. Only one in ten
respondents in the survey said their considered selling their property
or buying a new one nearer the UK if "green taxes" were to increase the
cost of their holiday.

Greg Grant, managing director of holiday-rentals.com, believes that owners of foreign properties will not lose out, although he expects many owners to change their approach
to letting their properties.

Mr Grant told the Telegraph: "Those who have previously kept their homes to themselves may begin renting out to maximise income in these tighter times. They'll see that a
month's rental can, if timed well, pay for much of a year's running
costs on a home."

"Renting does not suffer during a downturn,"
he pointed out. "We expected to see falls in bookings but so far we've
seen no reduction in website traffic from people wanting holidays.
Families, in particular, may desert hotels and save money by renting a
home."

Cowman Financial Services

Cowman Financial Services have partnered with Hawk Web Overseas Properties to provide their Clients with the option to invest in property abroad.

HWOP have Offices based here in Wexford and a network of Professional Partner relationships throughout the country and abroad offering a property portfolio of greater than 10,000 properties

Gilpin Auctioneers

Jonathan Gilpin Auctioneers, regulated by the financial
services regulater, we are in a position to offer our clients
comprehensive property and financial advice and assistance when
considering their purchasing options.

We guarantee a professional service of the highest standard possible to all our clients.
Gilpin
Auctioneers provide a wide range of residential and commercial property
services with an emphasis on professionalism, customer service and in
depth knowledge of the residential and commercial property markets.

Our overseas property division has a comprehensive property database of over 9,500 properties.

Overseas property locations currently include, Hungary, Mainland Spain, The Canary Islands, Turkey, Bulgaria and Dubai.

Polaris World Fit Out Offer

Key Read Apartments - 2 & 3 Bed

Exhibition

We have opened a permanent Overseas Property Exhibition in Crosbie Cedars Hotel, Rosslare Strand Wexford. All our properties are on show with the main focus being our wide and varied choice provided by Polaris World in Spain.


We will also feature properties from Dubai, which has recently become the choice location for Investors worldwide.

Please Contact Sinead on 087 63 999 19 for further information