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Monthly Archives: December 2009

It has been announced that tenders are out for the new Larnaca Marina and construction should start soon, this will of course increase demand for the area and property prices will respond to supply and demand.

This family are now in a difficult situation. Read on;

We wish it was as simple as paying him off as we were quite prepared to pay him whatever he asked for even though he was not entitled to it to get out of this contract. However when we purchased the house we asked him for permission to build our swimming pool which his architect said there was no problem with and now because he has other complications on the development i.e. he built 3 properties after his licence had expired, he his saying that the new buyer may have to demolish the pool! Apparently we do not think title deed will ever be issued for this development. The developer is not a true developer but a private individual who built houses on his wifes land

The moral of the story when buying a a foreign country, seek advice from those who know what can happen. Use an independent agent who will be truthful in telling you the facts, even if itmeans they lose the sale. A sale is not worth it if any customer should have problems in the future, that is our belief anyway.

We are here to help, just ask…

The results, which provide an interesting comparison with a similar survey produced last year, show that investors continue to be interested in investing in property. Interest remains firm in some countries, has declined in others and there is a shift towards bargain properties in the United Kingdom and the United States.

The Jet-to-Let 2009 top 10 results are:

Jet-to-Let magazine has revealed its top 10 countries of most interest to property investors in 2009…

In order to provide an up-to-date snapshot of investor intentions in 2009, Jet-to-Let magazine surveyed 500 new readers who recently subscribed to its free investment magazine.

The results, which provide an interesting comparison with a similar survey produced last year, show that investors continue to be interested in investing in property. Interest remains firm in some countries, has declined in others and there is a shift towards bargain properties in the United Kingdom and the United States.

The Jet-to-Let 2009 top 10 results are:

1. Cyprus
2. France
3. USA
4. United Arab Emirates
5. India
6. Spain
7. Italy
8. United Kingdom
9. Morocco
10. Greece and Turkey (joint 10th)

The Jet-to-Let 2008 top 10 survey results were:

1. Cyprus
2. France
3. Spain
4. Germany
5. USA
6. Morocco
7. Italy
8. United Arab Emirates
9. Turkey

Over 36% of investors said they wish to invest in foreign property in the next 12 months, with 27% keen to invest in the next 6 months.

Cyprus rules supreme

The number one preferred country for investors was Cyprus, which is unchanged from 2008, with France and the United States ranked second and third. There were three new entrants this year – India ranked at five, the United Kingdom ranked at eight and Greece in joint tenth place with Turkey.

Dominic Farrell, editor of Jet-to-Let magazine and author of the bestselling property investment book, The Jet to Let Bible, says he's not surprised that the United Kingdom had entered the top 10.

"There are presently fantastic bargainsin the UK for investors with the foresight and courage to see beyond the current economic climate. This is particularly so if buyers are holding strong currencies such as the US dollar or Euro which can add an extra 20% in terms of value"

France and Spain will always be in the top ten for UK and Irish buyers, but the relegation of Spain to number six reflects the change in market conditions and an erosion of confidence in the Spanish market, Dominic explains.

Brazil and Germany dropped out of the 2009 top 10 league, after being featured last year.

Reaping the benefits

Summing up the current choices of property investors, Dominic says, "Given the current economic climate and the negative media coverage of property investment, this survey shows that investors can see beyond today and realise that property has few rivals in terms of medium to long-term prosperity and risk.

"Given a choice between equities or other financial instruments and property, I know where I'll continue to put my money. This is a moment of opportunity for investors and those who take action will reap the benefits in years to come.

"We will not always be in a recession and the economic policies being adopted now, will eventually bear fruit. The catalyst for a recovery will be a return to lending by banks around the world."

Source. www.jet2let.com

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