Overseas property investment: Top picks for your portfolio
The UK may be knee deep in a credit crunch but making the most of your assets has never been so vital. For those of us who can raise the cash, capitalising on a potentially rising market or advantageous currency exchange may be the best way to maximise investments, and developers around the world are currently offering great deals in the clamour for customers.
Wednesday, 2 July 2008
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Here are eight of the world's hottest investment buys:
Head for the Italian hills
Property: Villa in Calabria, Italy
Price: From £172,000
Agent: Parador Properties: 0800 093 1701; www.paradorproperties.com
Agent's details: On the outskirts of Bonifati, this is a small development featuring semi-detached, three-bedroom, two-bathroom villas. Set on a panoramic hilltop, all properties enjoy sea views. The villas all have large private gardens and open-air terraces. The development also benefits from a large communal pool and clubhouse but private pools can be added.
Investment rating: Buying in up-and-coming Calabria gives investors an opportunity to buy into an emerging market within an established destination.
Putting on the Ritz in the sun
Property: The Abaco Club, Winding Bay, Abaco, Bahamas
Price: From $950,000 (around £484,123) for one-bedroom cabanas.
Agent: Abaco Sales: 020-7950 5527; www.theabacoclub.com
Agent's details: Bought by the Ritz Carlton Club earlier this year, the Abaco Club is a chance to invest in a tropical Bahamian retreat with a "members only" atmosphere. The 534-acre club overlooks two miles of sweeping white sand beach. Properties include a few one-bedroom, thatched cabanas, turnkey hilltop cottages and one-acre building plots. Buyers can get a return by renting out units: the cabanas at an average of $700 (£317) per night and the cottages at $2,500 (£1,275)per night.
Investment rating: Advantageous exchange rates, plus the backing of the Ritz Carlton Club brand gives the development great investment potential.
Guaranteed rental in Paphos
Property: Vikla Village, Paphos, Cyprus
Price: From €260,000 (£216,666) for a two-bedroom villa
Agent: Leptos Estates: 020-8883 2333; www.LeptosEstates.com
Agent's details: On the hillside near Paphos, this part of Cyprus is popular with second homeowners. Developer Leptos Estates is offering buyers a package, including a three-year guaranteed rental scheme for a limited period, which gives them a 5 per cent return annually on the purchase price.
Investment rating: Buy now and pay nothing for three years is the developer's promise, making Vikla a great investment.
Play your Trump card in Dubai
Property: Trump International Hotel & Tower, Palm Jumeirah, Dubai
Price: Specific property details are yet to be released but pre-sales
are already at AED12,000 (£1,660) per sq ft
Agent: Nakheel: 00971 4390 3333; www.nakheel.com
Agent's details: Leading developer Nakheel has joined forces with the Trump Organisation to launch Trump International Hotel & Tower. This 62-storey, mixed-use hotel and residential building will be the tallest structure on Palm Jumeirah. This is Donald Trump's first venture into the Middle East and, thanks to its eye-catching design, the Trump Tower looks set to be an iconic symbol for booming Dubai. The two towers will contain 6,700 sq m of commercial space featuring a split-linked design with steel, glass and stone facades. There will be 378 hotel rooms and suites, 385 condominiums, 12 townhouses and 45,000 sq ft of retail and 60,000 sq ft of office space. At the tip of the two towers, sit twin-sets of diamond pinnacle structures containing a restaurant, sky bar and viewing gallery. The development will straddle both the central park along the Golden Mile and the high-level monorail link to the mainland, making it a gateway to the heart of this major new development.
Investment rating: With two of the biggest names in the international property world, Trump Tower looks set to be the latest Dubai success story.
A room with a Palm View
Property: The Palm View Resort, Boa Vista, Cape Verde
Price: From €70,000 (around £58,300)
Agent: Assetz Cape Verde: 0845 430 5201; www.palm-view.co.uk
Agent's details: Working with Irish developers Flash, Assetz recently launched Cape Verde's first six-star resort on the island of Boa Vista. Set on the white-sand Praia de Chaves beach on the western coast, The Palm View Resort has been awarded six stars by the Cape Verde Government. The development has a range of studios, two-bedroom apartments and five-bedroom villas and amenities include nine swimming pools, tennis courts and a 24-hour concierge service. Completion is set for December 2009.
Investment rating: Assetz say potential for capital growth and promising rental yields put the country on par with Dubai for investment potential.
Off-plan semis near the Danube
Property: Central 22, Bratislava, Slovakia
Price: Initial investment from £39,975 in the first year with
guaranteed mortgage in place (subject to status) to fund final build cost of
£122,190 due in month 42
Agent: Aston Lloyd & Partners: 0845 260 0646; www.astonlloyd.co.uk
Agent's details: Around 8km from the heart of Bratislava, Central 22 is an off-plan development which contains a mix of four-bedroom, two-bathroom detached and semi-detached houses, as well as 58 three-bedroom, two-bathroom townhouses. Set on landscaped grounds with private back gardens and overlooking a large man-made lake, this development lies in the heart of central Europe, 27km from the Austrian border, and around 100km from Bucharest. With completion scheduled for 2011, Central 22's location near Slovakia's capital Bratislava and the Danube could make it a great holiday home or rental investment.
Investment rating: Bratislava has seen price growth of up to 15 per cent in recent years, thanks to demand from expatriates, students and a rising Slovakian middle class.
10-year rental returns in Spain
Property: Santa Cruz Suites, Costa del Sol, Spain
Price: From €375,000 (around £312,500)
Agent: CLC Estates: 020-8358 4113; www.clcestates.com
Agent's details: A stone's throw from the beach on the sunny Costa del Sol, only five of these 18 stylish two-bedroom apartments are now for sale. All properties come fully furnished and have designer kitchens with integrated appliances, ensuites to both bedrooms and an outdoor hot tub, either in the private garden or on the terrace.
Investment rating: The Costas may not seem the obvious investment choice but the developer is offering a 10-year rental guarantee on its leaseback option giving investors annual rental returns of 1 per cent.
Time to hit the North
Property: The Palm Development, Famagusta, Northern Cyprus
Price: Apartments from £65,193
Agent: Property International: 028 903 30 006; www.lazycapital.com
Agent's details: Investment company Property International claim to "build low-risk property portfolios" for private investors and specialise in off-plan commercial and residential property in Northern Cyprus. Currently under construction, The Palm Development will consist of 25 villas and over 700 apartments. Properties include one-, two- and three-bedroom, apartments, penthouses and two, three-, four- and five-bedroom villas, which start from £148,000.
Investment rating: With comparatively cheaper property prices than its southern neighbour, Northern Cyprus is hotly tipped.
