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7 simple ways to house 7 billion

Ivan Radford — 04/11/2011 11:10:00

Photo credit: 7 Billion Actions / JJelenBass

This week, the world population hit 7 billion. The number of people on the planet has doubled over the last 50 years and there are now 21 mega cities around the world housing 10 million or more. According to National Geographic, “7 billion people could fit shoulder-to-shoulder in Los Angeles”, but what if people want a home?

With 5 people born every second, and life expectancy on the up, the population is expected to reach 9 billion within 35 years. Where will they all live?

Here are 7 simple ways to house 7 billion people:

1. Live in space

Photo credit: Ken Banks

With space filling up on the ground, there's lot of room in space. A fixed home, or hotel, orbiting the Earth could house humans tired of crowded cities, while outer space has an unlimited capacity for new developments. As the race for space tourism takes off, living in space is looking like an increasingly sensible option. Inevitably, the Russians are already working on it.

2. Live in the sea

Photo credit: Andras Gyorfi / Seasteading Institute

Over 70 per cent of the Earth is made up of water. It seems silly not to build a home there. Indeed, The Seasteading Institute are an organisation dedicated to constructing offshore platforms to turn into island cities. Earlier this year, Paypal founder Peter Thiel was reported by many outlets to have invested in a flotilla near San Francisco’s coast, to be built next year. These reports were all incorrect, but Thiel has definitely donated money to the company. And as land space becomes limited, the tide may be turning for aquatic homes.

3. Live between buildings

Photo credit: Arch Daily / FastcoDesign

As buildings run out of spare rooms, why not live between them? In Poland, Jakub Szczeny is already trying. His Warsaw house is just 4 feet wide, with its thinnest point barely reaching 28 inches. Is it the thinnest house in The World? It’s certainly the narrowest in Poland, although it technically isn’t classified as a house; officially, the project is an art installation to avoid planning permission issues. Designed as a workspace for writer Etgar Keter, the property proves that there is always space if you look between the lines. Construction will be complete in December.

4. Live in cars

Photo credit: If It's Hip It's Here

In 2009, there were 50,000 homeless people in Los Angeles. 10 per cent of those lived in cars, according to Time magazine. But if the prospect of an illegal vehicle home holds no appeal and you can’t afford the $2 million trailer that Simon Cowell has been living in, this VW Beetle-inspired house (and restaurant) in Salzberg provides a trendy alternative for those keen on automotive accommodation.

5. Live in a tree

Photo credit: Webecoist / The Independent

For people looking to find space off the ground, living in trees could provide a green alternative. It’s not just the vertical forests under construction in Milan that offer forest-based accommodation: tree houses are located around the world, including this spiral staircased property in France, located in the Rambouillet Forest.

6. Live in mobile homes

Photo credit: Webecoist

Mobile homes are an increasingly viable option for densely populated areas. The flat-pack houses launched this year by The Tumbleweed Tiny House Company in the USA provide an affordable answer, with miniscule models available from just £61. Meanwhile, modular homes, such as Matti Suuronen’s ski cabin above, are flexible enough to be constructed anywhere in the world (even on cliff tops), making mobile living both a cost-effective and practical solution.

7. Live in Australia

Photo credit: Melody Tan

After Mongolia, Australia is the world’s least densely populated country, with just 6.4 people living per square mile. That’s a lot of space for new residents. And with an increasing number of expats returning back to the UK after moving Down Under, there’s even more room available. Given the main reason for Britons leaving Oz was boredom, though, outer space might be a more exciting option.

Where would you like to live?

Browse our extensive range of overseas property, which hasn't quite reached 7 billion houses yet:

http://www.themovechannel.com/property/all

Top of the Props: America surprise second choice for buyers

Ivan Radford — 02/11/2011 12:36:00

Photo credit: Tommy Chang

America is now the second most popular overseas property destination in the world, according to the latest Top of the Props report from TheMoveChannel.com.

After a long-running battle between France and Spain at the top of the chart, the US has unexpectedly turned the two-horse race into a three-way competition for top spot. The country rose by two places in the rankings, replacing the traditional runner-up as the surprise second favourite for buyers in October.

America has always been one of the most popular places for foreign real estate investment, alongside France, Italy, Portugal and Turkey. But while Spain remains the country of choice for buyers (receiving 3 per cent more enquiries than the month before), America saw an increase of 1.06 per cent in enquiries last month.

That number may seem like a small increase, but interest in US property has grown by 3 per cent over the past three months, indicating a consistent appetite from overseas buyers for the country's heavily discounted property market. France had 1.57 per cent fewer enquiries last month, while interest in Portugal also waned, by 2.42 per cent - perhaps a sign that the continuing Euro crisis is sapping interest in continental property markets.

America's ascension was just one of several surprises, as Cyprus and Thailand both jumped several places to enter the Top 10 most popular destinations. Cyprus has been suffering from unemployment and economic woes in the years since the housing boom, but the country is now starting to claw back buyers, as property prices dropped for the sixth quarter in a row last month. New legislation to allow buyers to officially receive property title deeds is also encouraging investment, with many foreign investors already taking advantage of the more transparent system.

The Thai property market has just been hit by major flooding, although high-rise condominium sales are expected to grow as a result. Indeed, overall property transactions in Bangkok actually increased by 1,500 during the second quarter of 2011, according to CB Richard Ellis. But while Thailand and Cyprus made October a month of surprises, the biggest shock remains the US victory over France, as real estate away from the Eurozone continues to demonstrate its pull.

Director Dan Johnson comments: "French real estate has been seen as a safe investment zone in Europe for some time, so America snatching second place is a great achievement. The US market is currently full of foreclosures and repossessed property, with the affordable prices tempting buyers away from the French ski slopes and into the States.

"It's interesting to see Cyprus and Thailand regain their status as former Top 10 property destinations. The flooding may see Thailand's popularity decrease next month, but Cyprus' low prices leave a lot of room for investment as buyers look for familiar markets amid ongoing economic uncertainty."

The full breakdown of the Top 40 is as follows:

Overall enquiries for October 2011
Rank	Country	Share	Change
1	Spain	18.01	Non-mover
2	USA	9.27	Up 2
3	France	7.93	Down 1
4	Portugal	6.86	Down 1
5	Italy	6.29	Non-mover
6	Turkey	4.07	Up 1
7	Cyprus	3.65	Up 4
8	Thailand	3.17	Up 7
9	Bulgaria	2.77	Down 3
10	Brazil	2.67	Down 2
11	Greece	2.33	Up 1
12	Malta	2.23	Up 2
13	Barbados	2.02	Up 4
14	Germany	2.02	Down 4
15	Morocco	1.84	Down 6
16	Egypt	1.66	Up 3
17	Cape Verde	1.61	Up 4
18	Poland	1.19	Up 2
19	India	1.01	Down 3
20	Switzerland	1.01	Up 7
21	Hungary	0.96	Up 2
22	Cayman Islands	0.95	Non-mover
23	UAE	0.95	Up 5
24	Croatia	0.8	Down 6
25	Canada	0.8	Down 12
26	Slovenia	0.74	Down 1
27	Mexico	0.68	Up 13
28	Australia	0.49	Down 4
29	St Lucia	0.43	Down 3
30	Jamaica	0.41	Up 1
31	Indonesia	0.38	Down 1
32	Montenegro	0.35	Down 3
33	Malaysia	0.2	Up 8
34	Austria	0.19	Up 2
35	St Vincent and Grenadines	0.19
36	Albania	0.18	Down 1
37	Singapore	0.18
38	Lithuania	0.16
39	Belize	0.15
40	Philippines	0.15	Down 1

Notes to Editors

Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

The website address is http://www.TheMoveChannel.com and the office address is 45 Lafone Street, Shad Thames, London, SE1 2LX.

Contact Dan Johnson on 0207 952 7650 for further information.

Top 10 haunted houses in the world

Ivan Radford — 28/10/2011 12:07:00

Photo credit: mksfca

With Halloween on the horizon, property buyers should be wary of the history of any house they find. Homes with a horrific past could come with a lower price tag, while a regular haunting might even boost the value of a property investment. TheMoveChannel.com picks up its torch and looks into the dark recesses of international real estate to hunt some truly terrifying property.

Here are the top 10 haunted houses in The World:

Jamaica Inn, Bodmin Moor, Cornwall

Photo credit: Christopher

Jamaica Inn is well-known for its Daphne Du Maurier connection, but as well as giving the title to one of her books, this 250-year-old inn has a history of haunted happenings. Noises in the courtyard and a man who walks through the empty corridors at night are just some of the ghostly remnants of the pirates and smugglers who used to reside in Cornwall’s spooky public house.

The Amityville House, New York

Photo credit: Nitroglicerino

America’s most famous haunted house is that of Amityville fame. Featured in several films, Amityville's horror story dates back to a real murder in 1974, when the owner, Ronald DeFeo Jr., shot six members of his family. Since then, several instances of paranormal activity have been recorded at 112 Ocean Avenue. The Dutch Colonial home was listed for sale in May last year for $1.15 million.

Monte Cristo, Junee, New South Wales

Photo credit: Island home

Regarded as the most haunted property in Australia, Monte Cristo was first occupied by William Crawley in 1884. Following his death in 1910, his wife refused to leave the two-storey home for over 20 years. Locals who witness lights and apparitions are convinced that she is still there.

Brissac Castle, Loire Valley

This mansion, built in the 11th Century, took its name from The Duke Brissac, but is haunted by another former resident, Jacques de Breze. Jacques killed his wife and her lover, then quickly sold the house to escape her ghost, which returned to haunt him. It was rebuilt in the 1600s, but the castle retains its scary reputation.

Spadina House, Toronto

Photo credit: Grant MacDonald

Spadina House was constructed in 1866 by James Austin, a Canadian investor who wanted to own an impressive piece of luxury real estate. No tragedies or accidents have ever occurred here, but researchers and visitors have reported sightings of “something” on the historic manor's third floor...

Whaley House, California

Photo credit: Miss Shari

Whaley House is two-storey property in San Diego’s old town that now houses a museum. Situated on the site of a gallows, the home is now one of California’s most popular attractions. Apparitions of “Yankee Jim”, who was hanged there in 1852, a young girl and even Thomas Whaley himself have all led to the building's status as a haunted house, officially recognised by the United States Commerce Department in the 1960s.

Joelma Building, Sao Paulo

Photo credit: Fjara Beck

The Joelma Building in Sao Paulo, Brazil, was the site of a tragic fire in 1978, which claimed almost 200 lives. Ghosts of the victims are said to have haunted the skyscraper, which has since been rebuilt and renamed.

LaLaurie Mansion, New Orleans

Photo credit: Reading Tom>

This three-storey house has a particularly gruesome past. Dr. Louis LaLaurie and his wife moved there in 1832 and kept several slaves in the property, before it burned down in April 1834. Local residents were shocked to discover the charred remains of animals and chained humans after the fire, and screams and wailings were heard in the neighbourhood for years. In 2007, actor Nicolas Cage bought the private property for $3.5 million, but then lost it to bank foreclosure in 2009. No connection is thought to exist between the two.

50 Berkeley Square, London

Photo credit: James Stringera

50 Berkeley Square has a reputation for being the most haunted house in London. Built in the 18th Century, it is now occupied by an antiquarian book dealer, but legend says that the attic is visited by the ghost of a girl who once committed suicide there. In 1879, a man was challenged to stay there for one night. He was later found dead in the house, reportedly of fright.

5 Real Street, Bélmez de la Moraleda, Jaén

This Spanish home is famous for its kitchen, where a former owner once saw the faint outline of a human face on the floor. Subsequent excavation of the property uncovered other faces and outlines and, eventually, a collection of bones from a 13th Century graveyard. It was listed for sale on the market in 2004. Spookily, there are no pictures of the house available...

Not afraid of moving abroad?

Browse our listings of houses, apartments and other overseas property, all at terrifyingly low prices:

http://www.themovechannel.com/property/all

EU crunch time: Your real estate escape routes

Ivan Radford — 26/10/2011 12:07:00

Photo credit: Eisenrah

The world is watching Brussels today, where EU leaders are meeting to discuss the eurozone debt crisis. Disagreements between country leaders have fuelled fears that the crisis will only continue. But as the 27 European Union leaders vote to finalise financial plans this afternoon, careful buyers can still make a sound investment in Europe. It's crunch time for the EU, so where are your real estate escape routes?

France

As countries such as Greece face an uncertain economic future, central eurozone markets (including the UK) remain a safe haven for many. French property, consistently the second most popular on TheMoveChannel.com, continues to attract investors, particularly in the high-end market, where Sotheby's have seen a jump of 38 per cent in luxury homes sold at auction, reports the Guardian. For UK buyers, taxes now apply to UK pension lump sums, but the country's cautious banks have helped France's economy to stay stable amid wider uncertainty.

Germany

Taking a similar approach to France, Germany's careful economy has made it an established market for house hunters with its high yields and low prices appealing to an increasing number of foreign buyers. While central locations, such as Berlin, are seeing house prices increase, real estate across the country has grown in popularity during the eurozone crisis, becoming one of TheMoveChannel.com's top 10 property destinations earlier this month.

Italy

Italy remains one of the main points of discussion in the EU talks. One of the key countries in the eurozone, other leaders are demanding that the country outline firm plans to reduce its large national deficit. While unconfirmed rumours suggest Prime Minister Silvio Berlusconi will resign at the beginning of next year, Italy's climate is still attracting new residents, although an awareness of seasonality is advised by experts. The property market is slow, but PropertyShowrooms.com suggests that this means lifestyle buyers can pick up houses "at bargain prices if they find someone who really needs to sell or move".

Spain

Spain remains the most popular destination on TheMoveChannel.com, and its low costs and sunny coasts have built up a significant expat community. 800,000 Brits are currently living in Spain, according to the Foreign and Commonwealth Office, and although exchange rates are less favourable than a few years ago and a wealth tax has just been introduced, property prices in more popular areas have reduced by up to 50 per cent, say recent reports. These bargain homes have seen foreigners invest €1.3 billion in Spanish real estate in the second quarter of this year, according to the Bank of Spain - an increase of 37 per cent compared to 2010. Buyers afraid of Greece or Italy can still rely on Spain for a second home.

Portugal

Portugal's economy has been badly hit by EU debt, but real estate activity was less negative in September than in August, say the latest figures. It helps that the market has not been crowded by an oversupply of property. Instead, "it is the demand side of the equation that is weighing down on prices in Portugal", according to the Royal Institution of Chartered Surveyors, a finding supported by the differences between regional markets. The Algarve, for example, is faring significantly better than Lisbon and Porto. Overall confidence In Portuguese real estate is low, but prices are too, kept down by the number of repossessed property banks are now putting up for sale.

Bulgaria

Bulgaria has been a surprisingly popular place for property buyers to browse in recent months. A boom in Balkan tourism has seen construction of holiday homes in Bulgarian resorts rise - there are 5.4 per cent more homes across the country now than in 2001 - and EU citizens, attracted by the non-eurozone market, currently account for 23 per cent of all foreign residents, according to a national survey published by BulgarianProperties.com. The latest data from the National Statistical Institute shows that apartment prices are falling in the country's regional cities, but like Portugal, this rate of decline is slowing, as signs of eventual market stability may be starting to show.

Turkey

Eastern Europe has delighted in Turkey, a country that has seen strong economic growth throughout the EU crisis. Investors have rushed to Istanbul for real estate and foreign buyers have poured over $1.3 billion into the country's property market over the years. Although lending growth has slowed since Turkey's phenomenal first quarter in 2011, a strong tourism industry continues to drive investment. "Mortgages represent just 5 per cent of GDP and there is a growing population that aspires to consume," one fund manager told Interactive Investor. Indeed, there is now a shortage of accommodation in Turkey, with a projected demand for 2.9 million houses by 2015. Turkey has been waiting to join the EU for a very long time, but as the leaders meet today to solve the major debt crisis, the EU's refusal to accept Turkey has only helped its property market thrive.

Where is your real estate escape route?

Avoid the EU debt crisis by browsing our listings of apartments, houses and other overseas property both inside and outside of the eurozone:

http://www.themovechannel.com/property/all/

Is now the time to buy property in recession-hit Europe?

admin — 18/10/2011 10:35:00

Image: Flickr
The economic catastrophe that Europe is facing hasn't put a damper on British buyer's enthusiasm to purchase property on the Continent.

According to World First, the expert on currency exchange, holiday home purchase sales in Spain have more than doubled over the summer.

Italy, Greece and Bulgaria are also places of interest to British buyers who are in search of a bargain. However, no matter the location, buyers should heed to the same advice and do your research to avoid any pitfalls.

Mortgage Funding

Due to the effects of the global banking crisis, banks are less apt to lending money, making mortgages more difficult to obtain. Home buyers who need to borrow money from the bank in turn have to place a larger deposit just to get a loan from overseas banks.

The growing debt crisis has intensified in recent months, especially in Greece and Italy and several Greek banks have stopped lending money. Overseas property experts have said that banks are still lending mortgage funds to borrowers even in Greece, however, a deposit of approximately 30 to 40 percent will be required.

Banks in Spain and France are more lenient at present lending borrower's money with only a 15 or 20 percent deposit. However, if the financial crisis takes a turn for the worse, these figures could be tightened.

In Britain, some lenders allow homeowners to refinance their mortgage to fund holiday home purchases abroad however it's based on the individual's criteria. Most borrowers still need to have substantial equity in their British home even after funds have been released in order to qualify. If you haven't got enough equity in your UK property and are not prepared to sell a house to raise the funds then an overseas mortgage may be the best option for most.

Watch Out for Currency Risks:
Buyers need to keep in mind that due to the turbulent economic climate, Euro loans will present a currency risk for many British buyers if they are paid income in sterling.

The majority of overseas mortgages are on variable rates, instead of fixed, so it's imperative buyers are aware that their monthly repayments could go up.

Mortgage rates in Spain and France are frequently between 3 and 4 percent variable, however the rate may fluctuate depending upon the borrower's circumstances.

Planning Problems, Overvaluations and Dodgy Developers:
Numerous British buyers have become unfastened over the years by falling prey to planning restrictions and other laws that were broken unbeknownst to them before the purchase of their dream home.

Getting an accurate property valuation is imperative and in most cases, it's best to get a second opinion. By taking the word of the developer, you leave yourself open to a world of problems that may arise.

If you are purchasing from a developer, do your research. Get them to include a work history of how long they have been in business and past customer reviews. Check out the work that they have performed and see how well it has stood the test of time.

Language Barriers

Language barriers could compromise British buyers, so beware to never sign any contract that may be written in a foreign langue without proper translation. Buyers should make sure there is an accurately translated original foreign contract into the English version.

The Legal Obligations

Research and comprehend what tax, if any will be applied to your purchase and what capital gains tax could be applied on the final price of the home. In most instances, you can figure adding 10 to 15 percent of the purchase price of the property which covers fees for the agents, legal fees and taxes.

Investigate rules and restrictions of letting property if you are planning to have your purchase be used as a holiday let. Certain areas have specific restrictions, so know which rules apply in the area of your newly purchased home.

Find out why an owner is selling and have your lawyer investigate to ensure that all planning, building and habitation licenses are in order. An example of this could be a newly built development may have been repossessed due to licensing not being granted, thus it could not be sold originally.

Finally

Never make a decision in haste. Many buyers have been burned because of their passion for the particular property, or have fallen in love with the neighbourhood and never did adequate research before placing an offer.

Another common mistake happens when buyers are under a specific time limit or are under pressure from an agent or developer and need to make a quick decision.

While there may be some fantastic bargains to be had when it comes to purchasing property, make sure to take your time, do your research and get a legal property expert to inspect all transactions.

If you are thinking of selling a home in the UK then why not try selling with My Online Estate Agent. My Online Estate Agent is a low cost internet based estate agent that charges a fixed upfront fee and no payment on completion.

Market slow-down as French double capital gains timeline?

admin — 14/11/2011 08:14:00

The buoyant French holiday home market could face “a slow-down” in the New Year if “vendors take their stock off the market” as the government doubles the scope of its capital gains tax (CGT) regime from February 2012 onwards say local specialists.

At present, any overseas property buyer investing in French property system can sell outright after 15 years and pay no CGT. The new rules double the time period and owners will have to wait for 30 years before being able to sell without falling liable for CGT.

Speaking exclusively to OPP, Graham Rowan, director of French international home specialists, the Leaseback Team, said “the French government is desperate to raise more tax revenues, and they are approaching the (overseas property) market on the simple basis that the sooner you sell, the more tax you pay.”

Source: OPP

Video: Global property outlook 2012

admin — 14/11/2011 06:52:00

Patrick Summer, Head of Property Equities, Henderson Global Investors shares his outlook for global property markets in 2012.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/11/ask-the-experts-global-property-outlook-2012/

Active living resorts in France for over 50's provide answer to housing shortage

Ivan Radford — 11/11/2011 06:00:00

As the over 50's housing market in the UK changes, seeing those entering the 'third age' form the fastest growing demographic group in the country according to the Knight Frank Retirement Housing Report 2010, considerable pressure is being placed on housing for the older generation.

With this in mind, dedicated active living resorts for the over 50's could well present the best option.

The Knight Frank report identifies that older households will represent half of all household growth between now and 2026 having significant impact on existing housing stock. And so, as a result, it is no surprise that the innovative active living Villages already popular in Australia, Scandinavia, the US and New Zealand are providing a viable alternative to this dilemma. With a large proportion of over 50's seeking lower living costs and a better quality of life than ever before, those entering their 'third age' are beginning to turn away from the UK, ranked in lowly ninth position in the Quality of Life Index compiled by uSwitch recently.

France however, topped the ranks affording the earliest retirement age in Europe, the highest proportion of GDP spent on healthcare and the longest life expectancy. Indeed, it's no wonder British over 50's are looking for lifestyle options across the channel.

Danny Silver, expert in French real estate and MD of The Villages Group, comments, "The British over 50's market provides one of the biggest opportunities for growth and it is important that their demand for housing is recognised. Indeed, we at The Villages Group have acknowledged that active living Villages for the over 50's which provide services and amenities that encourage an active, happy and healthy lifestyle focussed around a strong community of like-minded individuals is definitely the way forward."

Indeed, with 80% of the UK's £6.7trn in wealth being owned by baby boomers (those born between 1946 and 1964) the Villages concept in France is set to be a success, offering a practical solution to the housing shortage in the UK as well as providing a fresh alternative and unique lifestyle choice for the active over 50's seeking the perfect lifestyle abroad.

Vendors' price reductions sees French Riviera sales surge

admin — 10/11/2011 07:35:00

Sales volumes on The French Riviera are up by 9% because vendors are adjusting their prices down by nearly 4% in order to get a quick sale.

Lots of luxury holiday home properties are being snapped up as “vendors realise that they need to adjust their prices to sell,” The EstateNetFrance.com Research Luxury Property Index told OPP this week. “We have experienced a boost in holiday home sales.”

And, the index added, “the number of properties available for sale priced over €1m decreased by 8.89% to 7.048 units during October 2011. It is expected that the volume of luxury properties being sold will continue to increase as prices come down.”

The average price for a luxury property has dropped with 3.76% during the same period “due to the euro-crises and new tax laws” and “quality property in prime locations is still in strong demand.”

Source: OPP.org.uk

Taxman pursues Britons hiding holiday rent on overseas homes

admin — 02/11/2011 03:16:00

A team of HM Revenue and Customs inspectors is looking at people with second homes in France, Spain and other holiday destinations to see if they are cheating the taxman.

The inspectors have been told to claw back £560million in lost revenue by 2015.

The 200-strong team will be scrutinising advertisements placed by second home owners in magazines and on the internet. They will be looking for undeclared holiday rents and leased office space.

They are also checking overseas land registers to identify taxpayers with properties abroad.

Source: Telegraph.co.uk

European commercial property recovery continues

admin — 31/10/2011 08:59:00

European investment volumes increased in the third quarter of 2011 to €28.8 billion with a rise in international buyers to a market share of over 40%, its highest for two years, a new report shows.

Despite the deepening of the debt crisis and the fragile mood of the wider economy, European property investment markets saw trading volumes rise, the latest research from Cushman & Wakefield reveals, up 5% on the previous quarter and a 12.3% rise year to date.

Although momentum has slowed values are stable and the market is holding up well, especially when compared with other asset classes, according to Michael Rhydderch, head of the European Capital Markets Group at Cushman & Wakefield.

‘If anything, property has a growing level of appeal to many buyers in today's environment,’ he said, adding that risk, or rather risk avoidance, is a key factor and not just in deciding what markets and sectors investors will go to, but also how quickly they will act and how they will finance a deal.

Source: Property Wire

How to ghost-proof your home

Ivan Radford — 31/10/2011 08:45:00

A new infographic this week teaches homeowners how to ghost-proof their homes ready for Halloween.

"In many cultures around the world," explains Credit Sesame, "ghostly superstitions are taken seriously enough to actually affect the way homes are built and maintained."

From the height of a basement to the correct number of stairs, some overseas property is heavily influenced by the prevalence of supernatural superstition.

Here is the full infographic:

(Click here to see a larger version)

Not afraid of a property bargain?

Browse our listings of houses, apartments and other overseas property, all at terrifyingly low prices:

http://www.themovechannel.com/property/all

Video: EU leaders reach bailout agreement

admin — 28/10/2011 05:23:00

A further financial crisis was hopefully averted in Europe as the European Union leaders reached a bailout agreement after a marathon brainstorming session.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/10/debt-crisis-eu-leaders-reach-bailout-agreement/

Leaders agree eurozone debt deal after late-night talks

admin — 27/10/2011 06:15:00

European leaders have reached a "three-pronged" agreement described as vital to solve the region's huge debt crisis.

They said banks holding Greek debt accepted a 50% loss, the eurozone bailout fund will be boosted and banks will have to raise more capital. Shares on European markets rose sharply on news of the deal.

The agreement is aimed at preventing the crisis spreading to larger eurozone economies like Italy, but the leaders said work still needed to be done.

After marathon talks in Brussels, they agreed a mechanism to boost the eurozone's main bailout fund to about 1tn euros (£880bn; $1.4tn).

Source: BBC

Video: Finance ministers meet to discuss Euro bailout fund

admin — 25/10/2011 04:58:00

European finance ministers met last Friday, followed by a meeting of ministers from all 27 European Union countries on Saturday.

Euro-area and EU leaders meet today and another Euro summit is to be held on October 26th - the deadline to finalize a plan for the Euro bailout fund.

Watch the full video report on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/10/ufxmarkets-euro-bailout-fund-currency-trading-news/

Video: Property values 'holding steady' in Europe

Ivan Radford — 21/10/2011 10:51:00

Low interest rates across Europe have helped boost property values, a positive trend for real estate securities in the region, according to Ernst-Jan de Leeuw, La Salle Investment Management's head of real estate securities for Europe.

He spoke with REIT.com at the European Public Real Estate Association's annual conference in London in early September and offered a range of opinions on commercial real estate investment in the current market. He said signs within the industry suggest that the current level of strong valuations is sustainable.

You can view the video on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/10/property-values-holding-steady-in-europe/

Top French ski resort, La Plagne, celebrates 50th anniversary

admin — 21/10/2011 07:00:00

As France continues to dominate the ski holiday market, La Plagne in the French Alps, one of the largest and most popular ski resorts in the world will be celebrating its 50th anniversary this winter.

Visitors will be invited to share in the celebrations at an evening light show and fireworks display in the heart of the resort on the 21st December 2011 where the history of skiing, tourism and the evolution of the conquest of white gold between 1961 and the present day will be explained.

At its official opening party half a century ago, La Plagne ski resort had only two lifts and four buildings but now the resort has blossomed incorporating 53,000 beds in 10 sites and is now part of the "Paradiski" ski area with around 425 km of tracks.

Indeed, the anniversary celebrations will be further enhanced by the news that the ski industry is on the up again after numbers dwindled in the face of the economic recession with tour operators reporting that bookings are considerably higher for this season, increasing by as much as 20% in some resorts while early snowfalls over the last two weeks in the Alps has prompted a flood of bookings for ski holidays.

Business Development Manager, Charlie Williams of Terresens, France's leading eco-Friendly property developer with projects in Belle Plagne, comments,

"Winter sports enthusiasts are once again beginning to show an interest in the ski slopes with France remaining the most popular country for skiers. Indeed, 8 out of 10 resorts in terms of customer searches on Skipad.co.uk were for resorts in France, which is wonderful news.

"France affords easy accessibility to the rest of Europe, a wide choice of ski locations, superb food and an electrifying atmosphere and with low cost airline Ryanair launching its London Winter Ski Programme for 2011-12, providing 17 weekly flights from London to ski destinations near Grenoble and Lourdes more tourists will feel inspired to grab their skis and hit the French pistes."

And it's not only Ryanair that is after a slice of the slopes as easyJet Holidays launches its first ever ski programme offering holiday packages in a range of resorts catering for skiers and snowboarders of various abilities, including winter sports destinations such as Tignes, Val d'Isere, Chamonix and of course, La Plagne.

In light of the positive effects being felt across ski resorts in France, it appears the value of properties located in the French Alps has recovered from the global recession with a Ski Index report from Knight Frank highlighting that the annual price growth for ski properties in Europe grew by 1.7% during the second quarter of this year.

Charlie Williams of Terresens further comments,

"Property in the French Alps has remained popular with buyers as homes can be used all year round, not just in winter. During the summer months there are plenty of opportunities for rental income that is why we are urging potential second home buyers to invest here particularly in our key ready Le Centaure development in Belle Plagne which hosts events and activities throughout the year and offers excellent returns."

Le Centaure in Belle Plagne, a beautiful character resort situated in an ideal location in the heart of the French Alps in the Savoie provides studios to 3 bedroom apartments which are spacious and bright as well as offering a range of luxurious facilities dedicated to wellness and relaxation such as an indoor heated swimming pool, massage room and Turkish bath.

Nestled between forest and mountain pastures, Le Centaure in Belle Plagne offers stunning scenery, a splendid panorama and slopes for all the ski delights and as a snow sure key ready development Le Centaure priced at €190,748 excl. VAT offers a 4% guaranteed rental income as well as the added benefit of 4 weeks personal usage.

For those looking to buy and use a ski property such as Le Centaure in Belle Plagnethis season please contact the developer Terresens on + 44 (0) 203 101 110 or visit www.terresensproperties.com to find out more.

Overseas cities a great place to invest

admin — 21/10/2011 06:36:00

Those looking to buy a second home with strong rental potential are being urged to consider cities overseas, which can provide year-round financial yields.

According to the latest findings from rental website holidaylettings.co.uk, property in Paris, New York and Rome has the strongest rental potential and can attract occupancy of up to 45 weeks a year. Prime summer sun destinations such as Ibiza, while popular in the warm weather, usually only have occupancy of around 12 weeks.

The company’s Kate Stinchcombe-Gillies said: “Both Paris and St Tropez have good renting seasons but while the season in southern France is April to October, Paris will perform better year-round. Good quality, well located city apartments attract weekenders in any month.”

The findings are backed up by a recent survey conducted by agent Savills, whose World Class Cities Review found that property in New York had the highest potential occupancy rate among the world’s major cities, and could attract a typical nightly price of £180-£290, depending on the location.

Source: APlaceintheSun.com

Will there be luxury houses cropping up all over France?

admin — 13/10/2011 07:55:00

The president of France has announced his decision to overhaul the wealth tax reform system. He plans to increase the tax limit next year and this has caused frenzy amongst the media.

One outcome of this news is that luxury property developers are already starting to target the rich and trying to entice them into purchasing property in some of the more secluded areas of France. Luxury accommodation and lavish properties are going to be very attractive to those wealthy foreign investors; as this proposal by President Sarkozy means that wealth tax will only be payable on much higher amounts of prosperity now.

This could be good news for those in the property development business. Although this decision has only just been announced, it’s almost certain property developers who have caught wind of this news will definitely be making plans to branch out to the wealthy and try to encourage those to look into property in France.

France has lots to offer in terms of location, scenery and architecture. France has some of the most varied regions in terms of weather and culture. Depending on your preference France can offer property with stunning scenery in the mountain tops in regions such as the Pyrenees, the Alps and Massif Central or with spectacular beaches alongside the Mediterranean and Atlantic coastlines. The combination of its fantastic surroundings and now this increase in the tax limit should mean that an increase in high end property is almost inevitable.

Source: BuyAssociation.co.uk

French agents braced for winter sales rush as new tax bites

admin — 11/10/2011 09:20:00

Agencies based in France are getting ready for a winter sales rush as overseas property owners try to sell up before a new tax bill for capital gains tax takes effect on the 1st of February 2012.

The new tax law will make it more attractive for vendors not resident in France to sell their secondary home this year. A glut of high-value, luxury homes is about to hit the market, say local experts.

And “the expected effect is an increase of properties for sale and reduced prices by the vendors affected by the new tax,” the EstateNetFrance.com Research Luxury Property Index told OPP this week.

“The number of properties available for sale priced over €1m decreased by 1.78% to 7.768 units in September, this trend is widely expected to change in the last months of 2011,” says the company. “The average price has remained more of less the same with only a slight increase of 0.64%.”

Source: OPP.org.uk

Europeans most likely to invest more in real estate, survey shows

admin — 10/10/2011 10:30:00

Only 43% of European real estate investors report any increase in risk appetite since early 2011, compared to 46% globally, and 64% in Canada where investors show the biggest uplift in risk appetite, new research shows.

According to the Colliers International 2011 Global Investor Sentiment Survey, which takes the pulse of property investors worldwide, measuring their appetite for risk, optimism, key concerns and sense of market cycles, Europeans are more likely to increase their property holdings.

However, stock remains a concern with 49% reporting the supply of ‘for sale’ property remained a key barrier to expansion and over 54% stating they were focused on core property with target IRRs of five to 10%.

With 57% of investors reporting their risk appetite had not increased since the start of the year, it is not surprising those looking to expand are focused on safe bets, says the report.

Source: Property Wire

Property sales in south of France expected to rise

admin — 10/10/2011 10:14:00

There are likely to be more homes put up for sale in the south of France over the coming months, one local estate agency has claimed.

Estate Net France believes that the introduction of a new capital gains tax, which will affect all property owners in the country, will result in an increased number of houses coming on to the market.

The organisation noted that these may even be offered at reduced prices by vendors who are keen to shift their asset before the tax comes into force on February 1st 2012.

According to Estate Net France's Luxury Property Index for the French Riviera and Monaco, the values of homes priced at €1 million (£868,616) or more remained stable during September, recording a 0.64 per cent rise over the month.

Source: PropertyShowrooms.com

Rugby World Cup: England vs France - whose property wins?

Ivan Radford — 07/10/2011 09:00:00

This Saturday, the deeply competitive relationship between England and France will be on full display at the Rugby World Cup quarter final in New Zealand. But who is currently winning in today's property market?

On home turf, Britain has displayed its fighting spirit, battling against the waves of economic hardship felt across global property markets. Based on the latest data from The Halifax, house prices in cities across the UK are, in general, 7% higher than their county average with the average house price across the tracked UK cities rising 65% over 10 years from £104,681 in August 2001 to £172,917 in August 2011.

Meanwhile, demand for rental property in London has sky rocketed with some properties achieving a record £55,000 per week. Enticed by an average income of £713 a month in the UK and strong rental demand, Buy-to-Let investors have been snapping up properties across the country favouring London, Birmingham, Manchester and Liverpool locations. Lucrative opportunities are rife with investment agencies such as Property Frontiers offering a 10% net rental income (assured for 3 years) at Candia Tower, just north of Liverpool city centre, for example.

Ray Withers Director of UK buy-to-let experts, Property Frontiers, comments,

"The UK is still recognised as one of the most resilient and reliable markets in Europe. Although we have been hit hard, the UK is still a hub for opportunity with one of the best financial and economic institutions in the world. Indeed, we are one of the most visited nations on the planet and what we lack in sunshine we make up for in culture, history, entertainment and investment opportunities.

"Indeed, Britain's B2L property market is in full bloom, offering higher rental yields than our French counterparts making the UK, in my opinion, investment property champions."

When it comes to luxury dwellings, the Land of Hope and Glory evokes a genuine sense of prestige and sophistication above its other European counterparts with Forbes indicating that of the world's 214 new billionaires, 32 are located in Britain.

Wealth has spread in the UK, particularly to rural enclaves with areas such as Buckinghamshire and Surrey booming in property sales of over £1 million. For sheer indulgence, family run estate agency Barton Wyatt located in popular Virginia Water, north Surrey who has recently experienced a 116% increase in sales is offering September House, a stunning 6 bedroom property on the renowned Wentworth Estate for £6,500,000.

While the UK affords superb Buy-to-Let opportunities and rural luxury for the wealthy, does France have what it takes to drop kick Britain's property market into the sin bin?

As a fabled land of good food and wine, France has topped the charts in the 2011 Quality of Life Index compiled by comparison website uSwitch for a third time in a row. Although the findings show that UK incomes are around £6,780 more a year than our French neighbours, France benefits from having the highest life expectancy (81.9 years), enjoys 2,124 hours of sunshine a year and spends the highest proportion of its GDP (14.1%) on health.

With this in mind, lifestyle has remained one of the key considerations for buying property so it is hardly surprising that France has become the top destination for UK buyers looking to buy a second home abroad according to research by Savills International.

Business Development Manager, Charlie Williams of eco-friendly property developer Terresens comments,

"France quite simply has the best lifestyle in Europe, if not the world and is no surprise that buyers want to soak up the benefits of buying French property considering the World Travel Organisation in 2010 identified France as the most popular country for tourism, with 78.95 million visitors.

"The great thing about France is there are plenty of options for second-homes in a variety of living environments from peaceful rural surrounding to great ski locations as well as stunning coastal sites and trendy urban cities. However, according to a new survey commissioned for Knight Frank's annual Private View magazine, a fifth of respondents asked desired a property in the snow for their picture-perfect second-home."

Buyers attracted to the French way of life continue to invest in the country's stable economy and also the French leaseback programme where investors become the freehold owners and are guaranteed rental income averages between 3 to 5% for 18 years +, offering a veritable tax-friendly pension alternative.

Indeed, having just been completely renovated to a very high standard Le Centaure in Belle Plagne from Terresens situated in the heart of the French Alps, affording stunning studios to 3 bedroom apartments and great views of Mont Blanc from the pistes, guarantees a rental income of up to 4.10%. In comparison to the 10% net rental income offered by the likes of UK experts Property Frontiers for example, this French offering may not seem as alluring.

However, leaseback properties such as Le Centaure more than make up for this by not only having a management team to handle the rental process, on-going upkeep and repairs (free of charge), but by allowing the buyer to utilise the property themselves at certain times of the year.

So for those looking to score big in the property market why not consider the UK or France as a perfect property location, although who wins, you decide!

Which country's property would you invest in?

Pick up the property ball and try out our listings of English and French real estate:

http://france.themovechannel.com/property/all

http://www.themovechannel.co.uk/property/england/

Rise in French property prices in regions favoured by overseas buyers

admin — 07/10/2011 07:36:00

Despite the well publicised stock market instabilities and eurozone debt crisis property prices in France are rising, especially in regions favoured by overseas buyers.

Data for the past 12 months from French Notaires, shows that prices increased in Paris, the Cote D’Azur and Bordeaux regions. The rise was strongest in Paris, which recorded a 23% increase in prices and a 2% increase in the volumes of sales.

In the Bordeaux area prices rose by a more modest 3.5%. Activity in Provence and the Cote D’Azur was also encouraging, with a 6% rise over the past 12 months.

Data produced by mortgage bank BNP Paribas showed a stronger growth in sales, with volumes rising over 20% across France as a whole, and prices growing by between 4% and 8% on average.

Source: PropertyWire.com

Provence-Alpes-Cote d'Azur most popular for French property

admin — 23/09/2011 09:25:00

The latest data from leading independent international property portal TheMoveChannel.com reveals that in terms of volume of enquiries to date in 2011, Provence-Alpes-Cote d'Azur is the most sought after region by potential property buyers, followed closely by Rhone-Alpes.

Analyzing over 7,000 enquiries for French property made to the site to date this year, 9 per cent of total enquiries and 3 per cent more than 2010, the five most popular regions were Provence-Alpes-Cote d'Azur in the south east (25 per cent), Rhone-Alpes (21 per cent), Languedoc-Roussillon in the south (14 per cent), Aquitaine in the south west (8.5 per cent) and Midi-Pyrenees (7 per cent). And it would appear that their popularity as second home or relocation destinations is reflected in the average asking prices, which ranged from £279,541 in the Midi-Pyrenees to an eye-watering £1,109,000 in Provence-Alpes-Cote d'Azur.

French property expert and Business Development Manager for eco-friendly developer Terresens Charlie Williams comments:

"It is no surprise that Provence-Alpes-Cote d'Azur that has topped the rankings in terms of enquiries from potential property buyers. This region, a personal favourite of mine, has something for everyone from world class ski resorts in the Alps to sun-drenched chic coastal resorts such as Cannes as well as the charming countryside of Provence.

"The majority of our clients request properties in this region with leaseback properties in prime locations in particular demand due to the flexibility they offer in terms of rental income as well as personal usage."

And it is buying in a prime location, as Williams indicates, that is key to a successful French property purchase. According to recent data from the FNAIM (French national real estate federation), property prices in popular locations have risen for the fifth consecutive quarter, up an average 3.3 per cent over the previous quarter.

Interested in property in France?

Browse our listings of houses, apartments, ski resorts and chalets:

http://france.themovechannel.com/property/all/

Property prices in French ski resorts 'bounce back'

admin — 23/09/2011 07:21:00

The value of properties located in the French Alps has recovered from the global recession, with eurozone buyers helping to boost the market.

This is the finding of the latest Knight Frank Ski Index, which evaluates the performance of real estate in key winter sports locations.

According to the organisation, the resorts of Courcheval, Megeve and Val d'Isere have shown the strongest performance in terms of sales activity.

Liam Bailey, head of residential research at the firm, explained that this kind of French property is performing better because it has become less seasonal.

Source: PropertyShowrooms.com

France plans high-rent tax to protect poor tenants

admin — 22/09/2011 07:32:00

French property owners are under fire to reduce lettings prices after the government announced plans to introduce a levy on rents on small apartments considered unfair from 2012.

Secretary of state for housing Benoist Apparu said the “dissuasive” tax on overly high rents in France would come into place in January.

The levy will be at a rate of 10% to 40% for properties with rent in excess of €40 per square metre. The average rental price per square metre in the Paris is €23.

Around 50,000 apartments in France, mainly in the capital, would be affected, said the ministry. The idea is to end current abuse by property owners for young people, students and poor workers, it added.

Source: OPP.org.uk

French developer launches leaseback investor scheme as ski resorts surge

admin — 16/09/2011 03:30:00

A French developer has launched a project allowing buyers in leaseback holiday home properties to achieve extra lettings income by renting it out to skiers in season.

Richard Deans, sales consultant in Annecy-based MGM French Property’s London office, said: “Increasingly investors are realising that properties in good locations, like some of Europe’s top ski resorts, can offer better returns than the uncertainties of the stock market.”

“That’s why we have introduced a new scheme enabling investors in leaseback properties in résidences de tourisme to receive, in addition to a guaranteed annual rental income, extra income from lettings achieved in place of the four weeks of personal use which skiers generally prefer.”

The scheme is being rolled out in Flaine in the Haute-Savoie region where the developer is building 66 new apartments, set to be open in time for next year’s ski season.

Source: OPP.org.uk

Paris property prices rocket

admin — 09/09/2011 07:31:00

A study of Paris and its suburbs compiled by notaries, who are responsible for property conveyancing in France, shows the biggest increase in prices for 20 years.

The average price per square metre in the capital is now 8150 euros.

The cheapest district is the racially and socially mixed 19th arrondissement on the northeastern edge of Paris at 6 350 euros per square metre.

The 6th arrondissement, site of the Jardin de Luxembourg, and the shops of St. Germain des Prés, still associated with France's left-wing intellectuals, is now ironically the capital's most expensive area. Expect to pay 11 690 euros per square metre if you want to buy there.

Source: RFI.fr

French Riviera sales boost as prices stabilise in €1m-plus market

admin — 07/09/2011 08:55:00

The French Riviera and Monaco property market has received a boost after new figures revealed an increase in sales and a stabilisation in prices.

Data from EstateNetFrance.com Research’s “Luxury Property Index” shows that property sales were up 3.49% in 2011 as the number of houses available at over €1 million dropped by 9% since June.

The average price of a property on the French Riviera for €1 million-plus houses in August was €2,090,408, a fraction above July’s €2,086,415 but over a quarter of a million euros below February’s €2,346,370 figure.

Source: OPP.org.uk

Barroso says Europe will avoid return to recession

admin — 05/09/2011 10:43:00

Europe will not slide back into recession, and the euro remains "strong and resilient", the president of the European Commission has said.

Jose Manuel Barroso added that the Commission and national governments were "doing all it takes" to tackle the debt problems in the eurozone area.

His comments came after rating agency Standard & Poor's (S&P) said last week that the risk of a double dip recession in the eurozone had grown.

Yet S&P said that it should be avoided.

Source: BBC

French property prices continue to rise

admin — 01/09/2011 06:55:00

The latest report from the FNAIM shows house prices rising for the 5th consecutive quarter. The report covers the second quarter of 2011 (April - June) and is available on www.fnaim.fr.

Prices of properties sold by FNAIM members saw an average rise of 3.3% over the previous quarter with a strong rise (4.3%) in properties outside of Paris.

Trevor Leggett, Chief Executive of Leggett Immobilier, comments:

"Further headlines of house price rises need to be treated with caution. We know that the average price of property sold in France by FNAIM members has increased by 6.8% overall this year but it's important that vendors expectation levels remain realistic.

Source: Property4Media.com

European stocks advance for second day amid speculation growth to continue

admin — 30/08/2011 09:46:00

European stocks advanced for a second day amid speculation the global economy will continue to grow. Asian shares climbed while U.S. index futures fell.

Royal Bank of Scotland Group Plc (RBS) and Barclays Plc (BARC) led a rally in U.K. lenders. Ipsen SA (IPN), the French maker of a Botox rival, gained 6.1 percent after reporting increased profit. Bunzl Plc (BNZL), the world’s biggest distributor of disposable tableware and food packaging, added 2.4 percent after earnings also gained.

The Stoxx Europe 600 Index rose 1.3 percent to 231.22 at 8:16 a.m. in London. The gauge has still tumbled 13 percent this month, the biggest drop since October 2008, as European and U.S. economic reports trailed forecasts, adding to concern that the global economic recovery is at risk.

The decline has left the measure trading at about 9.7 times estimated earnings, near the cheapest since March 2009, data compiled by Bloomberg show.

“As a rather torrid August draws to a close, an upbeat mood does seem to be settling on the market,” said Cameron Peacock, a market analyst at IG Market in Melbourne. “Whether this can be sustained is likely to rest on the data. U.S. consumer confidence and the Federal Open Market Committee meeting minutes are likely to be instrumental here, although Bernanke’s speech in Jackson Hole last Friday will also still be ringing in the ears of many.”

Source: Bloomberg

Investors rush to snap up luxury units in Meribel

admin — 26/08/2011 10:07:00

The second home destination of choice by Harry Potter star, Emma Watson, property in Meribel is in high demand as investors rush to snap up luxury units at the only new build development in the resort, Les Balcons de la Chapelle.

Heralded as one of the best ski resorts in France by the Daily Telegraph, Meribel, founded by Brit Peter Lindsay in 1983, remains one of the most popular destinations with British ski enthusiasts attracted by the easy access to numerous ski runs within Les Trois Vallées, impressive lift system and lively après-ski scene.

Indeed, enquiries for property in the Rhone Alpes in which Meribel is situated has accounted for 20% of all French property requests made to international property portal TheMoveChannel.com so far in 2011 and the winter season has not even begun yet.

Managing Director of TheMoveChannel.com Dan Johnson comments, “Meribel continues to be a popular resort with ski fanatics and property buyers – and given the ski runs on offer, you can’t blame them! France remains the second most popular destination on our site and with the ski World Cup finals approaching in 2014, we expect the Rhône-Alpes region to go from strength to strength.”

In particular, the new development Les Balcons de le Chapelle is proving to be very popular. Business Development Manager of Les Balcons de la Chapelle in Meribel, Charlie Williams comments, "Offering the complete package both on and off the piste, it is clear to see why this Alpine gem holds such great appeal to Brits with visitor numbers continuing to rise and demand for accommodation robust."

Ranked one of the 50 most expensive locations for residential property in The World by the Knight Frank Prime Residential Index (2010), property prices reflect the desirability of Meribel with an average of €10,000 per square meter. Discerning buyers may be able to take advantage of Sarkozy's planned overhaul of France's wealth tax system next year which sees the threshold at which wealth tax is paid by residents increase from €800,000 to €1.3 million.

Sarkozy's financial struggle prompts billionaires to offer more in tax

admin — 26/08/2011 06:28:00

As the French government struggles to get a handle on its finances, 16 billionaires have signed a letter demanding to pay more tax. One of the signatories is the L'Oréal heiress Liliane Bettencourt, who was involved in a tax-evasion scandal last year.

"Now, when the public deficit and the state's worsening debt situation are threatening the future of France and of Europe, when the government is asking everyone to make an effort of solidarity, we feel we must contribute," says the letter, which appears in Le Nouvel Observateur magazine. The letter echoes the US billionaire Warren Buffett, who earlier this month called on Congress to stop "coddling" the super-rich and impose higher taxes on them.

The French billionaires, who include the heads of Total, Danone, Peugeot-Citroë* and Société Générale, limited their request to a one-off levy and acknowledged the tax would not be a solution in itself to France's economic woes, but would play a part in a "more widespread effort of reform".

The level for the one-off tax is not specified in the letter, but even a contribution of several hundred million euros would not make much of a dent in France's public deficit, which stands at about €150bn (£132bn).

Source: Independent.co.uk

Threat of bank holiday strikes at Eurotunnel

admin — 25/08/2011 04:36:00

Strike action is being threatened at Eurotunnel over the bank holiday weekend in a row over pay.

French unions are demanding a sharp pay rise and may walk out at one of the busiest times of the year.

Eurotunnel has suspended bookings, but says it remains confident of being able to staff potentially all services should workers walk out.

A spokesman said: “We have been notified of possible strike action and are now taking all steps possible to mitigate any disruption should it go ahead.

Source: TravelWeekly.co.uk

Building costs in France 'among the world's highest'

admin — 22/08/2011 10:24:00

France has been named as one of the most expensive countries in the world in which to build new property.

According to a survey released by EC Harris, the European nation came fifth place in the table, behind Switzerland, Denmark, Sweden and Ireland.

However, the research stated that "construction costs are remarkably consistent among the largest EU countries".

The high price of building a property in France may mean that more investors put their money into existing homes rather than new developments.

Source: Property Showrooms

Rise in number of Britons relocating to France

admin — 18/08/2011 06:47:00

France has always been a popular holiday destination for the British but a growing numbers of British homeowners are now choosing to give up their life in Britain altogether and move across the Channel permanently.

With the appeal of an eco-friendly, rural life growing amidst the shadow of job losses and the threat of global financial insecurity, UK buyers are no longer looking for a quick French getaway, but for a complete lifestyle change. As well as a desire to opt out of stressful, corporate life, availability and affordability are two of the key factors driving people to start their new lives in France, according to French property expert Patrick Joseph of My-French-House.com.

"When I first started sourcing property for British buyers in 2004, most of my work involved finding second homes and renovation opportunities... that would provide a good rental income over the summer months but there has been a definite shift towards relocation and self-sufficiency in recent years," said Joseph.

"An increasing number of enquiries are for small country houses with several acres of land where people can enjoy a greener lifestyle. A rural lifestyle in England comes with a hefty price tag and UK buyers are discovering that they can achieve their dream of a sustainable lifestyle across the Channel far more cheaply."

France's reputation as a safe haven for property investors is also contributing to the rising trend of Britons relocating and a growing number of Europeans choosing to invest their money in bricks and mortar rather than stocks.

"Historically, property in France hasn't devalued in the same way as it has in other parts of the Eurozone and although the financial gains won't be dramatic there is an almost guaranteed return on investment over time," Joseph added.

Interested in property in France?

Browse our range of apartments, houses and other French property:

http://france.themovechannel.com/property/all

European stock markets rally as fears of France downgrade abate

admin — 12/08/2011 06:15:00

Stock Markets rallied on Thursday morning as fears of a French debt downgrade abated, and the Italian finance minister prepared to present an austerity budget.

The FTSE 100 index in London climbed more than 100 points to 5108 in early trading, a gain of 2% that wiped out much of Wednesday's losses. Markets are eagerly awaiting a new austerity plan for Italy, which will be presented by Giulio Tremonti in Rome at 11am local time (10am BST) despite some opposition from unions.

George Osborne is due to to speak in London at about 1pm at a special sitting of parliament called after the recent rioting in the capital and across England. He is expected to defend his austerity measures, at a time when Europe's debt crisis is deepening and Labour politicians have latched on to the Bank of England's warning that the outlook is worsening.

France's CAC and Germany's Dax both rebounded 2.4% in early trading, while Italy's MIB was up 1.3%, Spain's Ibex added 1% and Portugal's PSI rose 1.8%.

Source: Guardian.co.uk

Prime property in Paris records 'steady' demand

admin — 11/08/2011 06:54:00

The demand for prime real estate assets in Paris during the second quarter of the year has remained steady, new research shows.

In the Knight Frank Prime Global Cities Index for the three months from April to June, the French capital was ranked third, registering flat price growth over the quarter but a ten per cent rise in property values annually.

According to the firm, Paris's real estate market has been attracting attention from overseas investors, particularly those from the Middle East and Syria.

Meanwhile, supply of prime assets has increased as a number of vendors have put properties up for sale in the hope of capitalising on the boost that prices have received over the past six months.

Source: PropertyShowrooms.com

Expats speak out: does working abroad boost your career?

admin — 03/08/2011 06:03:00

According to a survey from Natwest International Personal Banking, 83 per cent of women who work abroad believe the experience will stand them in good stead for moving up the career ladder.

Apparently, having spent time working overseas is generally considered to demonstrate a number of important skills to employers.

Out of over 400 women interviewed by NatWest, over half (52 per cent) said that the experience of working overseas had exceeded their expectations.

Members of the Telegraph Expat community on Twitter agree, and say working abroad has been a valuable and enriching experience.

Source: Telegraph.co.uk

European retail real estate investment increases 34%

admin — 27/07/2011 10:01:00

Direct investment in retail real estate in Europe during the second quarter of 2011 reached €4.9 billion while total investment volumes for the year to date now stand at €13.6 billion, 34% up over the same period last year, according to figures from Jones Lang LaSalle.

The majority of investment activity remained focused on the UK and Germany, accounting for 56% of total volumes over the quarter, while transactions in Sweden totalled €572 million as the region continued to attract significant interest. Sweden has already surpassed transaction volumes levels recorded for the entirety of 2010, exceeding €896 million in the first half of this year alone.

A number of growth markets saw increased activity over the quarter with volumes in Russia at €432 million and Poland at €332 million boosted by some key transactions, most notably the €278 million purchase of Gorbushkin Dvor and Filion Shopping Centre in Moscow by MTZ Rubin and the €171 million acquisition of Promenada Shopping Centre, Warsaw by Atrium.

‘Current investor demand remains focused on the core European markets of France and Germany but we also expect Poland and CEE to witness significant investment volumes by the year end. Investors driven by higher returns are focusing on the growth markets of Russia and Turkey which provide prospects for rental and turnover growth as well as potential for yield compression,’ said Jeremy Eddy, head of EMEA Retail Capital Markets at Jones Lang LaSalle.

Source: Property Wire

French property purchase process 'is relatively simple'

admin — 18/07/2011 11:01:00

Those looking to move from the UK and invest in French property will find that the process for doing so is not complicated.

That is according to Sharon Evans, director of Cle France - property specialists in the north-west of the country - who suggested that some people may feel wary of buying property abroad, especially when the culture is so different.

However, buying a house is relatively easy in France, she said. "It is a simple system and a system that I think gives the buyer considerable support. It is a safe system, a well-tried and tested system and it is quite simple and quite logical," Ms Evans explained.

Source: Property Showrooms

More wealthy foreigners buying property in France, survey suggests

admin — 11/07/2011 12:02:00

More foreigners bought property in France in 2010 than they did in 2009, suggesting that the love affair with the country has returned as international buyers return to the market.

Sales of French properties to international buyers increased by 21% in 2010 from 42,300 in 2009 to 51,200 last year, according to the third Investing and Living Abroad survey by French bank BNP Paribas.

‘This healthy increase in transaction numbers is sure to attract some eye catching headlines and it does sit comfortably alongside our own view of the market, where enquiry levels and sales figures are both up on last year,’ said Trevor Leggett of international estate agency Leggett Immobilier.

He believes that the turn around is primarily down to the sensible pricing levels adopted by sellers who realise that economic turmoil and tightened lending conditions still abound.

Source: Property Community

More demand for holiday properties in South West France

admin — 07/07/2011 07:15:00

UK based French property portal My French House has responded to demand from British buyers looking to relocate to France’s South West by launching a new range of properties in the region.

Patrick Joseph of My French House, who specialises in helping British investors find their ideal home in France, said the area had always been a favourite with holidaymakers but affordable property prices and low cost air travel to the region had boosted its appeal to second home owners making it one of the country’s latest up and coming destinations.

‘This part of France boasts an average of 2,000 hours of sunshine a year and has the benefit of being within easy reach of the coast and the mountains,’ said Joseph.

‘The Atlantic waves make wide ocean fronting resorts like Biarritz, which hosts the annual Women’s World Longboard Championships, a perfect destination for surfing enthusiasts, and the tourist season extends right through the winter with skiers taking advantage of the mountains of the Pyrenees,’ he added.

Source: PropertyCommunity.com

French property boom fuels fears of bust

admin — 04/07/2011 11:25:00

Bubble or not, France's buoyant housing market is fuelling high-level fears that a post-crisis boom could turn to bust.

From the central bank to the International Monetary Fund and rating agencies, officials are careful to avoid describing the euro zone's fastest growing house prices as a bubble, but they do not hide concerns about the risks to the broader economy.

Underpinned by particularly strong growth in the Paris market, French property prices rose 8.7 percent year-on-year in the first quarter of 2011 -- more than any other OECD country for which figures are available.

Ratings agency Moody's Investors Service believes the French housing market is overheating and that while French banks can absorb a likely moderate house-price correction, the least cautious lenders could face steep losses in a more severe drop.

Source: Reuters

Mandarin Oriental joins Asian hotel invasion of Paris

admin — 30/06/2011 06:26:00

The Mandarin Oriental opened its doors in Paris on Tuesday, becoming the third top-end Asian hotel brand in less than a year to put out its shingle and woo rich visitors to the French capital.

Newly built behind a 1930s facade, the eight-story property on fashionable Rue Saint Honore boasts 99 rooms and 39 suites going for an average of 950 euros ($1,688) a night.

"We absolutely wanted to be in the best arrondissement, the best location for leisure travellers," Christoph Mares, director of operations for Europe, the Middle East and Africa, told AFP at the inauguration.

Source: Relax.com.sg

Institutional investment in property trebles in France

admin — 29/06/2011 09:34:00

French institutional exposure to real estate trebled over the past 12 months, according to the European Institutional Asset Management Survey (EIAMS) conducted by IP Real Estate's sister publication Investment & Pensions Europe.

While overall real estate investment remained constant at 7% of total assets compared with 2009, figures for 2010 showed a noticeable increase in investment in a number of regions, including the Benelux countries.

Property holdings in France rebounded after falling to only 2% of total assets in 2009, climbing to 6% last year.

However, institutional investors in the Netherlands, Luxembourg and Belgium saw real estate investment increase by 4 percentage points to 12%.

Source: IPE Real Estate

Property prices in Paris expected to fall

admin — 28/06/2011 07:21:00

The value of property in Paris is likely to drop over the coming six months, with one local expert noting that prices are "more negotiable than before".

In an interview with Overseas Property Professional, Gilles Martinetti, director of Papty, predicted that the market will see values dip by around five per cent before 2011 comes to a close.

"The market will continue to slow, though not dramatically. Prices may fall five per cent in the next three to six months. It could reach ten per cent by the end of the year but that's very unlikely," he asserted.

Mr Martinetti's predictions are backed up by figures published earlier this week by Databiens.com, which showed that average values in Paris were down by three per cent between January and May.

Source: PropertyShowrooms.com

Europe homes for aspiring Indians

admin — 27/06/2011 11:40:00

European countries like Spain, Greece and Italy are among the latest property buying destinations for Indians in the holiday home segment after prices have crashed there, according to industry analysts and consultants. Real estate assets in exotic locales around the world are often packaged and marketed as “holiday homes”.

Even as Indians are restricted by the Reserve Bank of India (RBI) ceiling while investing in overseas property, their numbers have risen in the recent past in buying a home away from home. RBI has capped the overseas property investment at $200,000 per person per year.

No concrete data is available to quantify the size of the market as far as Indians going abroad to buy property is concerned, said Anshul Jain, CEO (India), DTZ, an international real estate adviser headquartered in London. Jain, however, said the number of Indians investing in property abroad or buying holiday homes overseas has gone up substantially in the recent months.

Spain and Greece, which continue to be in the grip of the economic slowdown, have seen 40 to 50 per cent decline in holiday home prices from their peak level, according to Jain. One can acquire a holiday home in these European destinations at ¤250,000-300,000, estimates suggest.

Source: Business Standard

European holiday favourites benefit from boost in buying interest

admin — 27/06/2011 11:18:00

France, Italy and Germany are all attracting more interest from overseas property buyers, especially areas popular with Brits such as the Dordogne, the latest Rightmove Overseas index shows.

In May, some 56.2% of indexed locations saw increases in searches, 43.7% saw decreases, 0.1% no changes at all. Overall, searches for overseas property rose 15% in May.

Poland has broken into the top 20 countries for the first time, with searches increasing by a huge 248%. Top ten climbers include several French regions. The Dordogne was up 74%, Aquitaine up 47% and Limousin up 39%.

Italy also continues to attract a lot of interest with 17 out of 20 Italian regions see increased user activity in May. While Bavaria in Germany was the top climber for May with 82% more searches month on month.

Paris house market stalls with record-high prices

admin — 23/06/2011 09:11:00

Paris’s housing market is stalling as buyers are deterred by record prices following two years of gains that outstripped London and New York.

Average prices fell by about 3 percent in the first five months of the year, according to an index compiled by Databiens.com based mainly on reports from the city’s affluent western districts. While it’s the only gauge so far to register a drop, other indicators show that transactions are falling and the time it takes to sell a property has almost doubled from a year ago.

“The flow of money, which was almost euphoric, has halted,” said Laurent Lakatos, the founder of London-based Databiens. “There’s been a pickup in the number of apartments offered at a discount.”

Home values in the French capital appreciated by about 20 percent last year, the biggest annual increase since at least 1991, the Paris Chamber of Notaries estimates. The surge in demand lifted prices across the city to a record as fewer owners offered their houses and apartments for sale and only 2,785 homes were built.

Source: Bloomberg.com

Leaseback sales in France attract foreign buyers

admin — 22/06/2011 06:39:00

Foreign investors are being attracted to leaseback properties in France being put up for sale by Irish owners.

This is according to Sextant Properties, a French estate agent, which noted that the number of Irish nationals looking to offload their overseas properties has risen.

Speaking to Overseas Property Professional, Rachel German from the company, explained: "With the leasebacks the sellers can often be in financial difficulty so want to sell quickly. And they need high rental yields to attract clients so prices can be lower."

She added that the majority of interest is coming from investors in the US, Asia and Gulf region.

Source: PropertyShowrooms.com

David Lynch designs Paris club inspired by Mulholland Drive

admin — 20/06/2011 12:06:00

Filmmaker David Lynch has designed Club Silencio, a Paris nightclub based on the venue in his 2001 thriller Mulholland Drive starring Naomi Watts, which is set to open in September.

The club owner Arnaud Frisch, who started the Social Club and music label Savoir Faire, plans for a private venue from 6 pm to midnight, that opens to non-members from midnight to 6 am.

The concept is devoted to all things cultural, like a 'salon' for international creative exchanges with concerts, screenings and literary events. Located on Rue Monmartre, the space will house a bar, restaurant, performance stage, art library and cinema.

Lynch also designed the furniture with Raphael Navot, according to The Hollywood Reporter. The director's previous designs appeared in his 1996 film Lost Highway and his mid-century minimalist tables have been sold by Swiss company Casanostra.

Source: The Independent

Euro-zone wage growth picks up

admin — 20/06/2011 12:04:00

The increase in wages and other labor costs accelerated in the euro zone during the first quarter of 2011, although wages continued to fall in Greece and Ireland—two members that are grappling with fiscal crises.

The European Union's Eurostat agency Monday said wages and salaries in the 17 nations that use the euro were up 2.3% from the first quarter of 2010, a pickup from the 1.4% annual increase recorded in the final three months of 2010.

Total labor costs, which include taxes paid by employers, were up 2.6% from the first quarter of 2010, compared with a rise of 1.5% in the final quarter of 2010.

The pickup in wage growth will concern the European Central Bank, which raised its key interest rate in March in order to prevent a second round of price increases in response to higher commodity prices.

Source: Wall Street Journal

Paris-Tokyo in two and a half hours on hypersonic jet

admin — 20/06/2011 12:01:00

Fancy travelling from Paris to Tokyo in two and a half hours? Do you yearn for the Concorde days?

Aerospace group EADS, owner of planemaker Airbus, thinks it has the answer -- a hypersonic jet that flies above the atmosphere, yet takes off from a regular runway.

"It is not a Concorde but it looks like a Concorde, showing that aerodynamics of the 1960s were very smart," Jean Botti, EADS' chief technical officer, said. By flying above the atmosphere and using biofuel to get the plane off the ground initially, the group hopes to avoid the supersonic boom and pollution Concorde was notorious for.

Source: Relax News

Buying property in the Périgord

admin — 17/06/2011 07:19:00

Reports of a mass British exodus from the Dordogne-or Périgord, as this ancient region of south-west France is otherwise known-have been greatly exaggerated, say leading international estate agents. Following a brief hiatus at the start of the recession in 2009, when the number of Britons buying homes in the area slowed dramatically, discerning UK buyers are rekindling their passion for Périgord, which still has the highest concentration of long-term British residents of anywhere in France, outside Paris.

The appeal of this voluptuous region-with its rolling hills and wooded slopes, rich architectural heritage and endless gastronomic delights-lies in its unchanging quality of life and landscape that, for many, recalls ‘Britain as it used to be'. Once home to warlike Gaulish tribes who resisted the Roman occupation, Périgord is divided into four sectors within the Dordogne, one of the 83 original départements created during the French Revolution.

To the north lies Périgord Vert, an area of green valleys, rivers and streams centred on the town of Nontron; Périgord Blanc is a region of limestone plateaux, wide valleys and meadows surrounding the département capital of Périgueux; Périgord Pourpre, with its capital Bergerac, is one of the world's great wine-growing areas on the banks of the Dordogne; and, further east, Périgord Noir is a lush, heavily wooded area of oaks and pines overlooking the Vézère and the eastern Dordogne, with the administrative centre of Sarlat at its heart.

Source: CountryLife.co.uk

Bumper number of people to holiday in France

admin — 16/06/2011 07:47:00

Champagne might be over the top, but a cautious celebration with a glass of rosé might be in order if you own a letting property in France. There could be a good season ahead.

Bumper numbers of French are expected to stay in France for les vacs and other nationalities, including the Brits, are heading back in force.

The majority of European holidaymakers seem to be staying in a safety zone and are opting for the tried and tested. For many, looking for safety, quality and a relatively hassle-free journey, France is ticking all the boxes.

More than a million more French are expected to “staycation” this summer, according to recent figures. Destinations traditionally popular with French holidaymakers, especially in North Africa, are being rejected as too risky.

Source: Telegraph.co.uk

Mind the gap if you use a bridging loan

admin — 13/06/2011 11:52:00

With house prices abroad falling by as much as 70 per cent, more UK buyers are tempted by bargain holiday home investments, turning to short-term lenders to seal a quick deal.

However, the strategy is risky – if you can’t get a mortgage, you could lose your new home and your old one.

With many Britons sensing this is the time to snap up a bargain, UK short-term lending specialist Bridging Finance Limited says it has seen a 22 per cent rise in lending for foreign property investment. Many buyers want to see off potential competitors and secure properties before arranging mortgages with traditional lenders who need more time to undertake their due diligence.

Chris Baguley, managing director of Manchester-based Bridging Finance, said: “The key to securing a good deal is acting quickly when you see a property you like and have done your research.

“We complement the banks by providing a short-term stopgap funding while they do their long-term due diligence. The fact that there is now more competition for the same properties means that it is often down to whoever moves fastest."

A litmus test to see whether bridging finance is right is whether you have a reason more valid than wanting to buy before you can sell. It is also important to bear in mind that when taking out a bridging loan, certain lenders may want to take your current property and the new one as security, so if you default, both may be at risk.

Source: Telegraph Online

French mall deal volumes to rise 2 bln eur in 2011

admin — 08/06/2011 07:58:00

Large investors are pouring money into French retail property in 2011 in a move away from the increasingly crowded UK and German markets, with deal volumes set to rise by almost 2 billion euros ($2.9 billion) this year.

French prime malls are the latest hot spot for global real estate investors seeking to benefit from rebounding European economies, after targeting the retail sectors of the UK, Germany and even Spain.

"The investment market in France is extraordinary strong at the moment," said Tom Newton, a director at Eurocommercial Properties in charge of the company's French portfolio. "There is lots and lots and lots of money trying to get into France."

French insurer Axa (AXAF.PA), Dutch pension fund ABP, German insurer Allianz (ALVG.DE) and the Canadian Pension Plan (CPP) are among those hunting retail malls, market sources said.

Source: Reuters.com

Proposed new French property tax not as expensive as some fear

admin — 07/06/2011 06:45:00

The proposed new property tax for holiday homeowners in France may hit the rich but others may not feel the effect quite so much, according to French property experts.

The new tax has been approved by president Sarkozy’s cabinet and if approved by parliament will take effect from 2012 onwards. The tax will hit all those who own a French holiday home and who don’t rent it out on a long-term basis.

It could thus even hit French expats living abroad who are no longer residents for tax purposes, although not if they’ve paid tax for three of the previous ten years, which will probably account for the majority of people in this position, according to Sextant Properties.

Also the tax will have no effect on investment properties such as French leasebacks and properties that are rented out.

Source: PropertyCommunity.com

Property Investors in France Finding Funding Hard to Acquire

admin — 06/06/2011 11:59:00

Investors in France are finding that the country's banks are becoming more reluctant to offer real estate loans to overseas buyers, it has been claimed. Athena Mortgages has commented on rumours that the trend is a result on some institutions having already reached their targets for residential lending for the year.

The firm noted that if this is true it indicates a lack of liquidity and increase in risk aversion within the market. Indeed, there also seems to be a reduction in the time that interest only mortgages run for and an increase in the net assets required for an interest only loan.

"Several banks have reduced the amounts they are willing to lend to borrowers from outside Europe, whilst one major lender has restricted their products to EU citizens only," said director John Busby.

In addition, a number of French banks have started adopting Baslel III criteria. The new global regulatory standard on bank capital adequacy and liquidity requires that the total outstanding loans should be no more than six times a borrower's income.

Source: IPIN Global

Fitch Confirms France’s AAA Rating, Warns Over Growing Debt

admin — 01/06/2011 06:50:00

Fitch Ratings confirmed its top AAA ratings on France’s euro and foreign-currency borrowing and said its outlook is “stable,” while warning that the government needs to control the growth of its debt.

The Fitch report cited the country’s “wealthy and diversified economy” and its “effective political, civil, and social institutions.” It also noted government efforts to cut the debt, such as last year’s increase in the retirement age and a draft law calling for balanced budgets.

“However, continued fiscal consolidation is needed to stabilize and then start to reduce public debt, which reached 81.7 percent of GDP as of end-2010,” Maria Malas-Mroueh, a director in Fitch’s sovereign team, said in the statement published in London today.

Fitch said it doesn’t envisage any changes to its ratings of French banks as a result of their exposure to Greek debt, adding that the banks have “very limited direct exposure” to Portuguese and Irish risk.

Source: Bloomberg

French property market 'not heading toward a bubble'

admin — 31/05/2011 10:51:00

French property buyers are likely to be encouraged by news that the country's real estate market is not heading towards a bubble.

Prices in the country have been on an upward trend over the past few years, with experts suggesting that this is a result of a lack of supply - rather than financial speculation.

Jean-Philippe Cotis, the general manager of the INSEE, explained that despite reports from that the National Institute for Statistics to the contrary, the formation of a bubble is unlikely.

The news will be welcomed by those looking to buy property in France, with continued positive price growth suggesting that there are opportunities to be had in the sector.

Source: Property Showrooms

Why the Germans and French prefer to rent

admin — 31/05/2011 10:35:00

Englishmen may see themselves as king of their own castles, but the fact that Europe largely did away with its monarchies many years ago does not necessarily explain why those on the Continent are happier to rent, even if the situation is starting to change.

Germany has the greatest proportion of home-renters in Europe, and Germans still prefer to rent accommodation rather than own it. Only 39 per cent of the population own the homes that they live in compared with about 60 per cent in Britain. But that pattern is changing. Berlin is experiencing a boom in property buying: hundreds of recently renovated, turn-of-the-last-century apartments are being snapped up by wealthy Germans.

But as home ownership gradually increases, renting is still seen as a perfectly acceptable alternative, and is much more part of the fabric of German society. Rents controlled by local government and the reluctance of banks or housing associations to provide would-be home-owners with mortgages are among the main reasons for the Germans' preference for renting.

Unlike in Britain, Germany's more cautious banking system requires would-be home-owners to provide substantial guarantees of their ability to finance a loan before granting a mortgage. For many on low incomes or with little capital, owning a home has simply never been an option.

Source: The Independent

Investment opportunity on Nice’s Promenade des Anglais

admin — 27/05/2011 07:19:00

Two studio apartments are available in a front line, 4 star residence, located right on Nice's famous Promenade des Anglais. Each one costs €135,000, with 2 weeks occupancy possible, with a rental yield of 3.81%.

Each studio is 25.51 sqm in size with a 5sqm balcony.

For 1 night, 1 week, 1 month or more, this 4-star Leaseback Residence offers fully furnished and air conditioning luxury studios and apartments.

This residence is the only Apart hotel Leaseback located on Nice's Promenade des Anglais (frontline residence) which grants it a major advantage through its proximity to: business centres, beaches, shopping, the airport, train station, Old Nice and museums, all within easy reach. Weekend, spring breaks, holidays rental, conferences, professional services, long and short stays, the team at the residence guarantees the best reception.

The Location: The residence is situated r the Promenade des Anglais and very close to the Nice Acropolis Conference Centre (often considered the best in Europe) which welcomes 500,000 participants to 180 events every year, meaning the residence is at the heart of international business tourism.

Nice itself is the fifth largest city in France, and boasts a dynamic and thriving economy that makes it the number one employment centre on the French Riviera with more than 130,000 jobs, 83% of which are in the service sector.

It has several business districts and business parks and numerous major corporations and banks have given the town an international dimension. High-tech clusters in the fields of health care, IT, multimedia and services are the latest addition to business centres on the cutting edge of environmental and technological innovation.

Nice is the number one tourist centre after Paris with 4 million visitors a year, and also the number one cruise port with over 350 000 passengers passing through. Nice is also a place with a blooming arts and culture scene. It possesses a rich cultural and artistic heritage (19 museums and galleries) as a plethora of painters, musicians and writers have contributed to the shaping of the town. Cultural life in Nice can be intense and regulated by an eclectic programme of events, including the carnival and the Nice Jazz Festival.

Your property is in a classified tourism residence and will be managed by a tourism management specialist. Rents are guaranteed by the management company with a commercial Lease and is renewable. There is 2-week occupation. We have our own French mortgage brokerage service in order to find the most suitable mortgage for each client. Whether you want an interest-only mortgage, a traditional repayment mortgage or hybrid mortgage, we can find the right mortgage for you.

For further information please visit: http://www.themovechannel.com/property/details/3062825/ and make an enquiry through the site.

EU forces notaries to compete for business

admin — 25/05/2011 06:33:00

Seven European Union countries are to be forced to open the notary profession to outside competition after a ruling Tuesday by the bloc's highest court.

The European Commission took Belgium, France, Luxembourg, Austria, Germany, Greece and Portugal to the EU Court of Justice for preventing citizens from other EU countries from acting as notaries in their territory.

The EU court said any 'nationality condition' restricting access to the profession to home nationals 'constitutes discrimination on grounds of nationality prohibited by the (EU) treaty.'

It said that countries concerned by the ruling must amend their legislation 'without delay,' or face the risk of further court action, resulting in heavy fines.

Source: M&C

Britons with homes in France face higher taxes

admin — 24/05/2011 03:01:00

Around 200,000 Britons who have holiday homes in France could be charged a new tax, adding thousands to their bills.

Struggling president Nicholas Sarkozy has proposed the levy in a desperate bid to raise revenues and improve his falling poll ratings.

It would see a typical holiday homeowner with a £350,000 house pay £700-a-year.

Anyone lucky enough to own a £5.5m Parisian mansion would face paying an extra £3,400-a-year.

Source: DailyMail.co.uk

Milan Furniture Fair: Week of wonders

admin — 16/05/2011 11:30:00

Many fashion houses join the design world when it focuses its sights on Milan each April, some with more rigour than others.

This year Balenciaga staged a photographic exhibition of its boutique concepts, Emilio Pucci hosted an installation about 'the values and magic of the Pucci world’ and Marni replaced the camellia trees in its Villa della Spiga courtyard with lavender, herbs and mulberry bushes 'to pay tribute to Italian flora and encourage the return of plants to our urban centres’, the label’s designer Consuelo Castiglioni said.

Few, however, got into the spirit of a furniture fair quite like Hermès, the French firm best known for its leather goods and printed silk scarves. In what was one of the most talked about displays, the company presented a furniture and furnishings range overseen by its creative director, Pierre-Alexis Dumas, a fifth-generation member of the Hermès family. With key pieces designed by the architect Antonio Citterio (best known for his work with B&B Italia and Maxalto) and Enzo Mari, the 79-year old master of Italian design, it is clear that Hermès is taking this new direction seriously. B&B Italia will produce the range, but it remains a thoroughly Hermès product – sophisticated, with a restrained palette and use of materials. There is plenty of saddle-stitched leather, too – a distinct feature of the company’s fashion accessories.

Completing the offering is a range of furniture designed by Jean-Michel Franck in 1924, which Hermès quietly released towards the end of last year. China and silverware is being produced by the great German tableware firm Rosenthal, and new wallpaper and furnishing textiles designed by Philippe Dumas, the grandson of the company’s founder, Emile Hermès.

Source: Telegraph Online

British homeowners 'buying property in France'

admin — 13/05/2011 06:14:00

Homeowners in the UK who are looking to move abroad are increasingly considering purchasing a home in France.

Charles Smallwood, owner of Agence L'Union, explained that for those with the cash available, investing in a home overseas is a good option as the cost of property has declined.

He said that those with around €350,000 (£305,000) to €400,000 were realising that they could get a good property for their money.

Locations that are proving to be popular for people who are moving are rural areas of the country.

Source: SafeStore.co.uk

European real estate offers attractive potential returns

admin — 13/05/2011 06:02:00

Invesco Real Estate believes that the Central and Eastern European markets are forecast to deliver the strongest medium term returns on the back of +3% GDP growth.

However, a combination of bond rate movements, globalisation of capital flows and increased development pipeline are expected to push some prime Western European yields outwards over the next five years.

These findings are highlighted in the Invesco Real Estate spring 2011 House View Report which highlights a number of key themes Invesco Real Estate believes will be central to real estate investment in the upcoming year.

Greater differentiation between European countries is expected in the short-to-medium term, with Germany, Switzerland and the Nordics continuing to out-perform with GDP growth in the 2.5-3% range. Within the core European countries such as France and the Benelux, growth is expected to be slower, within the range of 1.5-2%.

Source: PropertyTalk.com

New development property sales fall 24 per cent

admin — 12/05/2011 07:26:00

The president of France’s property developers federation (Fédération des promoteurs immobiliers) has just announced that new development property sales for the first quarter of 2011 are down 24 per cent on the same quarter in 2010.

This falling off in sales is more than was expected and sales in France for new development properties by the end of 2011 will probably be under the 100,000 mark instead of the hoped for 110,000 figure. In 2010, 115,000 properties were sold in this category and 106,000 in 2009.

Monsieur Marc Pigeon explained that there were several reasons behind this considerable drop: the Scellier buy-to-let-scheme’s tax advantages are less attractive than they were in 2010; there is an insufficient supply of development properties; the improved zero interest loan scheme (PTZ+) is slow to attract first time buyers for new properties; prices have gone up for development properties as buildings have technical features which enable them to meet the lowest energy consumption rating (bâtiments à basse consommation) and interest rates (for the loan amount not covered by the PTZ+) have edged up.

Source: The Riviera Times

France to slap tax on foreign-owned second homes

admin — 12/05/2011 06:23:00

PARIS : France is to hit non-resident owners of 360,000 second homes - many of them British or Dutch - with a new tax equal to 20 percent of the properties' rental value, under a draft law unveiled on Wednesday.

Property dealers immediately warned the measure, designed to cut France's yawning budget deficit by about 176 million euros per year, would have a chilling effect on the holiday home market in rural regions like the Dordogne.

Some also questioned whether it might breach European Union laws intended to ensure the free movement of capital, despite also applying to French citizens who are resident abroad but keep a second home in France.

The draft, which was approved by President Nicolas Sarkozy's cabinet on Wednesday and is expected to pass parliament in time to become law in 2012, says second home owners should help pay for French public services.

Source: ChannelNewsAsia.com

The 10 best places to retire overseas

admin — 09/05/2011 11:51:00

There are parts of the world where riding out the economic storm in retirement is going to be a lot more enjoyable than in Britain. Savills estate agents’ latest Global Residential Review reveals that an increasing number of those in their more prosperous fifties and sixties are looking for a foreign retirement bolt-hole where the living is easier than in Britain.

Here are 10 hot spots for anyone looking to buy and retire overseas:

America

Florida, really. On average the climate’s a lot warmer than Britain’s, so you’re guaranteed sunshine. Property prices have fallen by 30-70 per cent over the past four years.

Barbados

Britons are the biggest expat community in Barbados. Celebrity owners include Sirs Cliff Richard and Andrew Lloyd Webber, as well as Cilla Black and Simon Cowell. Estate agents Cluttons (www.cluttons.com) report a 70 per cent increase in sales in 2010, compared to 2009.

Cyprus

It’s not just the sunshine that makes the Greek part of Cyprus a haven for Britons. Spend more than 183 days on the island, in one financial year, and you become a tax resident, liable for as little as five per cent income tax.

France

Brits tend to opt for coastal properties (39 per cent), rural (37 per cent) and mountainous (19 per cent), which means the likes of Aquitaine, the Dordogne and the Languedoc remain popular. But the prospect of spending a year (or longer) in Provence, à la Peter Mayle, is as attractive as ever. Overall, prices in France are eight per cent down on their 2007 peak.

Italy

You won’t find stacks of cheap, soulless, little modern apartments in Tuscany and Umbria. But you will find lots of rural residences with character.

Prices are between 5-20 per cent lower than September 2008, so for £150,000 you can buy a pretty, stone-built Town house in the village of Collodi Castello.

Mauritius

Picture postcard beaches, and an expat-friendly Integrated Resort Scheme, whereby you, your spouse and offspring enjoy not only residency status, but freedom from inheritance and capital gains tax. This is provided you buy a top-end property such as at the (288-villa) Valraiche development next to two golf courses (with another planned). Prices start from £500,000 for a two-bedroom villa (www.cluttons.com)

South Africa

Cape Town is where most Brits gravitate, with its equable climate and fine beaches. Prices can be 50 per cent less than the most expensive parts of Europe, too.

Spain

Murcia, in south-east Spain, was the original star of Spanish golfing properties. It now has more links-Side homes for sale, at below-par prices. Property sales in Majorca are also up (by 14.5 per cent in 2010), as is the number of Monarch Airlines flights from Britain. You can buy an (as yet unbuilt) two-bedroom beachside villa at Cala Anguilla for £180,900 (www.taylorwimpeyspain.com).

Switzerland

“Switzerland was generally unaffected by the recession and the property market remained buoyant,” reports Hannah Coppersmith, managing director of Pure International (www.pureintl.com). The company organises free seminars to help with the laws on purchase in the cantons.

Turkey

During 2010, property sales to foreigners rose by 40 per cent on the year before, totalling £2.5 billion. Not quite as good as the 3 billion of the boom years (2006-08), but enough to persuade accountants Price Waterhouse Coopers to name Istanbul the best European city for investing in property during 2011.

Source: Telegraph Online

Vincent Tchenguiz puts French villa on the market for £25m

admin — 09/05/2011 11:41:00

The elder brother of the Iranian-born Tschenguiz brothers business duo has appointed the estate agents Knight Frank to sell the property, Villa Symphonie, in the South of France.

A spokesman for Mr Tchenguiz said that it was "simply a case of good timing because there are lots of Russians looking to buy villas".

The sale is the latest move in a radical reorganisation of the assets of Mr Tchenguiz and his brother, Robert. Last week Barclays applied for a "Deed of Charge" over credit balances on accounts of R20, Robert Tchenguiz's main investment vehicle. The charge, which may be applied for under the Companies Act, allows Barclays to insist that all of R20's costs and expenses are matched by cash deposits. The charge was filed last week at Companies House. It was reportedly applied for several months ago.

Source: Telegraph Online

UK's French Property Exhibition kicks off this weekend

admin — 05/05/2011 09:59:00

France’s recent renaissance as a magnet for property investors is expected to draw in larger than ever crowds at this weekend’s French Property Exhibition in Harrogate.

The show is the only dedicated French property event of its kind outside London and organisers are anticipating interest from a new breed of buyer as stable prices and good regional air connections open up affordable up and coming areas.

“Cheap flights from regional UK airports are opening up new areas and there are some real property bargains to be had in previously undiscovered destinations that lie within a few hours’ drive of Beziers, Carcassonne and Perpignan,” said Patrick Joseph, owner of UK-based French property portal My-French-House.com and one of this weekend’s exhibitors.

“There has been a definite rise in demand for all types of property in these areas as well as in regions that have always been traditional favourites with British buyers, such as the Dordogne, Gers, Tarn, the Cote d'Azur, Poitou Charentes and northern France, particularly Brittany and Normandy,” said Mr Joseph, who saw the biggest increase in traffic to his website in the first quarter of this year than at any time since its launch in 2004. “French property in general is attracting greater interest than it has for many years,” he added.

Rising inflation likely to affect french property

admin — 05/05/2011 07:03:00

It seems likely that property owners and buyers in France will face increased mortgage rates, as the European Central Bank acts to control inflation.

Last month the European Central Bank raised the interest rate from 1% to 1.25%, but as yet this has not been passed on to borrowers because it had already been factored in by the banks. However fixed rates have increased slightly and it's expected that further increases will occur as it becomes more expensive for banks to refinance their offered loan rates.

The target inflation rate is set at 2% by the European Central bank, but is currently running at 2.8%. This leads to some experts predicting further interest rate rises as early as next month. Analysts were already expecting an interest rate rise in July but feel the latest inflation figures make an earlier move more likely.

They also expect inflation to stay at its current level or even to reach 3% by the end of the summer. However there are suggestions that the strong growth in Germany and throughout much of Europe is peaking, and in Spain unemployment continues to rise as retail sales fall.

Source: Property-Abroad.com

Hop across Channel for huge price increases, say experts

admin — 03/05/2011 10:54:00

Investors looking to purchase overseas should hop across the Channel to France where near double-digit price increases have been recorded, says specialist French property firm Experience International.

According to the latest Knight Frank Global House Price Index, France saw a 9.5% annual increase in prices in Q4 2010 compared to the same period 12 months ago.

Steven Worboys, MD at Experience International, comments, "Surpassed within Europe only by Latvia (16.9% annual price increase) and Austria (9.9%), the near double digit annual price increase is highly indicative of the robust nature of the French property market. The unique conditions we find ourselves in today with the lowest interest rates since WW2, strength of the pound and rising prices make this the perfect time to buy."

Source: Experience International

European real estate investment up 32% in Q1

admin — 27/04/2011 10:59:00

Direct commercial real estate investment volumes in Europe reached EUR 26 bn in the first quarter 2011 (Q1 2011), representing an increase of 32% year-on-year, according to new research from Jones Lang LaSalle (JLL). Successful debt and equity issuance has provided liquidity to the market, which in turn drove cross-border investment from equity-rich investors.

JLL expects the current positive trends to continue and maintains its forecast for 2011 of up to a 30% increase in volumes across the region compared to 2010 figures (EUR 102 bn), as the volume of equity targeting European markets continues to rise.

Predominately driven by a continuing interest in core London assets, the UK continued to dominate the European investment market in Q1 2011, capturing 38% of all investment capital in the region (compared with 35% in Q1 2010). Significant activity was also witnessed in the French, German and Swiss investment markets, whilst Poland, Russia and the Czech Republic all experienced a strong start to 2011 with volumes up notably on those recorded in Q1 2010.

Russia, in particular, has seen a defined uptick in transactional activity; at EUR 763 mln, investment volumes in Q1 are almost three times higher than levels seen in the first quarter of 2010. In Poland, activity is 200% higher in comparison to Q1 2010 and investment volumes for the Czech Republic are already 89% of its 2010 total.

Source: Property EU

More people renting French ski property, figures suggest

admin — 27/04/2011 10:49:00

As the 2010/11 ski season enters its final throws, property owners in the Rhones/Alpes region of France should be pleased to hear of the 17% increase in holiday home booking enquiries received by the UK’s leading rental company, HomeAway, compared to last season.

The most popular areas remained traditional family favourites with Chamonix Mont-Blanc topping the charts followed by Portes du Soleil and then the Val d’Isere, Tignes, Sainte Foy region.

‘Despite concerns over early season snowfall levels, the 2010/11 ski season in France has been strong. I visited a number of resorts such as Flaine, Chamonix and the stunning Sainte Foy throughout the season and on each occasion the slopes were busy and villages bustling not only with French but also British, German and Italian ski enthusiasts,’ said Charlie Williams, sales manager of Terresens, an eco-friendly leaseback property developer. And it is not only HomeAway that has seen France’s popularity as a ski destination rise this year. The latest data from Ski Horizon, a leading ski travel operator, reveals that France proved to be Europe’s most popular location for skiing holidays in the 2010/11 season with the resorts of Morzine and Les Arcs being the most popular.

‘It is no surprise that France remains the most sought after European ski destination. The sheer scale of the ski domains, the quality of the slopes, the first class facilities and the established nature of the resorts with everything on hand just cannot be rivalled in my opinion. Those looking to buy a ski property for personal use or to rent out can do no better than the French Alps,’ explained Williams.

Source: Property Community

Italy and France ask EU to revise Schengen border treaty

admin — 27/04/2011 09:45:00

Italy and France asked the European Union today to revise the Schengen border treaty that permits passport-free travel through Europe to take into account "exceptional" situations like the recent massive flood of Tunisian immigrants.

France has harshly criticized Italy for granting temporary residency permits to some 20,000 Tunisian migrants who have arrived in Italy since the North Africa nation's dictator was overthrown in mid-January. Most Tunisians want eventually to get to France, Tunisia's former colonial ruler, where many have relatives.

Italian Premier Silvio Berlusconi and French President Nicolas Sarkozy said they had signed a joint letter to the EU during a summit on Tuesday and had appointed officials to work on the issue.

"We want Schengen to survive, but to survive Schengen must be reformed," Sarkozy told reporters after the meeting. "We believe in free circulation but we believe in a state of law and a certain number of rules."

Source: Associated Press/The Independent

French government raises threshold for wealth tax

admin — 26/04/2011 13:27:00

Earlier this week (12th April 2011) French minister Francois Baron said that the French government aims to raise the threshold for households that have to pay wealth tax (ISF).

Under the proposed reforms the threshold for households for the wealth tax would rise to those with assets of more than €1.3 million compared with the current rate of €800,000.

Households with assets of between €1.3 million and €3 million would be subject to a tax of 0.25 percent and for assets over €3 million the tax would be 0.5 percent.

The proposed changes are likely to cost the government around €900 million and M Baron has indicated that they would like this to be covered by increases to taxes on inheritances of greater than €4 million. He has also talked about the possibility of an exit levy on tax exiles moving out of France, as well as a tax on French homes owned by non-residents.

Further details are expected to be announced after the next meeting of ministers on May 11th. The reform will go before parliament by June and some parts of it could take effect this tax year.

Source: Leggett Immobilier

French property demand remains high

admin — 21/04/2011 11:10:00

Demand for property in France appears to be strong, with the number of overseas enquiries for homes in the country rising.

Comments from French estate agent Leggett Immobilier suggest that the country has put the recent global economic troubles behind it and is now an attractive market for investors to by in.

So far in 2011, the firm reports that it has seen an almost 100 per cent increase in new buyer enquiries compared to last year's figures.

The stability offered in France is proving attractive to international property investors and reports suggest that the increasing demand is also being driven by mortgage rates, which are at their lowest levels since the Second World War.

Source: Property Showrooms

Foreign property investors 'look beyond traditional destinations'

admin — 21/04/2011 09:53:00

Foreign property investment professionals are beginning to look further afield for their next real estate purchase, according to one expert's opinion.

Nick Marr, chief executive at Homesgofast.com, said "volatile foreign currency rates" has encouraged investors to have more imagination when choosing a new property development.

He stated that instead of going for traditional locations such as France and Spain, they are considering other destinations as Europe continues to suffer from economic difficulties.

Despite his comments, Rightmove revealed last week that Valencia in Spain was the most popular item in their foreign property index, reporting an increase of 166.78 per cent in searches.

Source: Commercial Finance Group

Revival in French commercial sector

admin — 20/04/2011 07:14:00

After two years of falls and inactivity, French commercial real estate saw a recovery in 2010, according to the latest IPD France Annual Property Index.

The index has shown that capital values in the country recorded a 4% growth over the year leading to a total return of 10% for investors.

The increase comes after a 12% decline in values between 2008 and 2009. Annualised total returns over a three-year period remained positive at 2.4% despite the decline.

Stephanie Galiegue, managing director of IPD France and Southern Europe said: "After two years of negative movements, the real estate sector in France has posted a strong recovery in values for 2010, following the trends seen in other European countries."

Source: Assetz

New flights to France with CityJet

admin — 14/04/2011 09:32:00

CityJet has made lots of Francophiles very, very happy with the announcement of a new host of flights from London to southwest France.

As of 2 April, the airline will launch three new flights a week from London City Airport to Pau, the capital of the Bearn region. The flights, which will depart on Mondays and Thursdays at 09.10 and Saturdays at 12.00, will give travellers far more choice. Currently, Ryanair offers the only direct flights from London to Pau, departing from Stansted.

Alongside the new Pau flights, CityJet is also set to launch new direct routes to Amsterdam twice a week.

Source: Cheapflights.co.uk

French commercial sector sees strong recovery

admin — 12/04/2011 06:34:00

The increase follows a cumulative decline in values over 2008 and 2009 of -12.7%, and while the recovering returns in 2010 remain below the levels seen before the downturn in 2008, annualized total return over a three-year period was positive, at 2.4%.

Income return saw a decline in 2010 of 30 basis points, partly offset by capital growth, while rental values continued to decline, at -0.3%, a shallower rate than 2009’s -0.8%. Yield compression of 40 basis points, to 5.9%, helped to drive capital growth.

‘After two years of negative movements, the real estate sector in France has posted a strong recovery in values for 2010, following the trends seen in other European countries,’ said Stephanie Galiègue, managing director of IPD France and Southern Europe.

‘Results, as with the rest of Europe, are very much location and asset specific. Investors are showing a preference for secure assets with good income, in a central and stable location. Thus we are starting to see the emergence of a two tiered system, as demand for these assets increases their value, and the rest of the market lags behind,’ she added.

Source: Property Wire

Air France to fly Paris-Cape Town direct

admin — 11/04/2011 11:57:00

Air France will begin flying direct from Paris to Cape Town three times a week starting in November, an official said Thursday.

The flights from Roissy-Charles de Gaulle will begin on November 3, with a Boeing 777-200 carrying up to 309 passengers on Wednesdays, Fridays and Sundays. Air France currently serves only Johannesburg with daily flights from Paris on the Airbus A380 superjumbo.

"We still see the demand for South Africa growing very rapidly," Ralf Karsenbarg, Air France-KLM's Johannesburg commercial director, told AFP. "The research shows a very positive outlook," he said. "The French community is very strong in the Western Cape."

Source: AFP/The Independent

Sarkozy should ready curbs for housing bubble, OECD says

admin — 11/04/2011 10:54:00

President Nicolas Sarkozy’s government should consider curbing mortgage lending to counter rising home prices in France, the Organization for Economic Cooperation and Development said.

“There is a risk that a prolonged period of easy finance could result in a price bubble,” the Paris-based OECD said in a report released today. “If real-estate prices were to continue to rise rapidly, the authorities should implement explicit macro-prudential measures to limit the distribution of credit to households,” it added.

The comments, set out in the OECD’s Economic Survey of France, highlight concern that rising house prices may pose a risk to French banks and the recovery from the worst recession in more than half a century. Bank of France Governor Christian Noyer also warned last month that property prices may be on the verge of a “correction” as euro-area interest rates rise.

While house prices across France rose only 1.5 percent on average in 2010, prices in the Paris region jumped 15.7 percent to a record 7,645 euros ($10,789) per square meter, according to the national residential real-estate brokers’ lobby, FNAIM. Paris property prices have surged 40 percent since 2005.

Source: Bloomberg

European Central Bank raises interest rates

admin — 07/04/2011 13:12:00

The European Central Bank lifted interest rates for the first time in almost three years to quell inflation even as Portugal became the third nation to succumb to the region’s sovereign debt crisis.

ECB policy makers meeting in Frankfurt today raised the benchmark interest rate to 1.25 percent from a record low of 1 percent, as predicted by all 57 economists in a Bloomberg News survey. It also raised the marginal lending rate to 2 percent from 1.75 percent and increased the deposit rate to 0.5 percent from 0.25 percent, maintaining 75 basis-point corridors either side of the benchmark.

While ECB President Jean-Claude Trichet said last month that a move today is “certainly not the start of a series,” investors expect two more increases to 1.75 percent by the end of the year as inflation accelerates and Germany’s economy booms. The risk is that higher borrowing costs may boost the euro and exacerbate the sovereign debt crisis, which last night forced Portugal to follow Greece and Ireland in seeking a European Union bailout.

“The ECB has decided that it will tighten policy for the core countries like Germany that are doing well and leave the non-standard measures support in place for the periphery countries,” said Silvio Peruzzo, an economist at Royal Bank of Scotland Group Plc in London. “The rate increase is appropriate and there will be another one as early as June.”

Source: Bloomberg

Brad and Angelina to revamp Cote d'Azur mansion

admin — 04/04/2011 11:30:00

Superstar Hollywood couple Brad Pitt and Angelina Jolie are undertaking major renovations on their estate in the South of France in preparations for moving there permanently in summer.

The pair are reported to be adding some modern touches to their $56 million home, Chateau Miraval, which already has 35 bedrooms, two swimming pools, a billiards room, his and hers gyms, a sauna, jacuzzi and a banquet hall.

The Chateau, located near the village of Brignoles in the South of France region of Vars, also boasts an on-site recording studio where Pink Floyd, the Cranberries and Sting have previously laid down tracks. Pitt and Jolie have plans to permanently call France home when they move into the Chateau this summer, along with children Pax, Zahara, Maddox, Shiloh, Knox and Vivienne.

Marks & Spencer to reopen in Paris

admin — 04/04/2011 11:21:00

A decade after its flagship Boulevard Haussman store closed its doors, iconic British supermarket brand Marks and Spencer will open a new store on Paris's Champs Elysees.

The three-storey flagship will sell M&S's internationally popular womens' lingerie, its food hall products and the Autograph womenswear line. The brand is also in talks to open up a series of its Simply Food outlets in other locations around the city, after increasing demands from expats and Parisian natives for its quintessentially British food products in particular.

"Over the past ten years the amount of demands from people for us to come back has been enormous", said chief executive Marc Bolland in a press conference on Friday. "Our company has changed in a positive way and France has moved on as well. We want to come back in an extremely positive way."

Key airlines bump up presence in Florida

admin — 29/03/2011 12:44:00

International airlines Delta, Air France and KLM will all begin regular services to Florida this summer, with non-stop routes set to be available to key Floridian cities from London, Paris and Amsterdam.

Delta began its first non-stop service between Miami and Heathrow over the weekend, and plans to run one flight daily on this route, while its Sky Team partner, Dutch airline KLM, began its first of four flights a week from Miami to Amsterdam.

Connections will also be available on the international routes to Tampa Bay, Orlando and Jacksonville. Meanwhile, another Sky Team partner Air France also plans to begin direct services from Paris to Orlando in June.

"The airlines will operate the new Florida flights under their trans-Atlantic joint venture", said Delta in a press release. "For customers, it means more choices for booking, destinations and schedules, additional opportunities to earn and redeem miles and consistent service regardless of which airline operates the flight."

Source: USA Today

More Brits hunting for overseas real estate

admin — 28/03/2011 12:50:00

Interest in foreign property purchases is once agan booming amongst British buyers, with online property portal Rightmove and foreign exchange specialists MoneyCorp both reporting a large surge in enquiries.

Real estate enquiries rose by 53 percent in February on Rightmove, with Spain retaining its popularity as a second home destination despite its much publicised housing collapse.

Other popular destinations for purchase enquiries were France, the USA and Australia, with Germany and Ireland also recording large amounts of growth due to their desirability as bargain investment locations, according to Rightmove CEO Robin Wilson.

Travel experts reveal their favourite French beaches

admin — 25/03/2011 13:17:00

Best in Corsica: Porto-Pollo
Jacqueline Mirtelli, France Tourism Development Agency

As a native of the French Riviera, I am very keen on the sea. For me, Corsica is a true paradise for beaches and it's only a two-hour flight from London or Manchester. Between Propriano and Bonifacio in sunny southern Corsica is Porto-Pollo beach, a long white arch of sand in a bay sheltered by green hills.

Best Breton beach: Baie d'Audierne, Brittany
Chosen by Wendy Mewes, author of Footprint Brittany

With 2,000km of coastline you'll have more trouble avoiding Brittany's beaches than finding one. For sand less travelled, head to the Baie d'Audierne on the west coast of Finistère. This really feels like the edge of Europe; 30km in length, it offers calm relaxation on family-friendly beaches such as Pors Carn.

Best for diving: L'Ile de Riou, Marseille
Frederic Di Meglio, secretary general of the Fédération Française d'Etude et de Sport Sous-Marin

Wild, uninhabited and carefully preserved, L'Ile de Riou is accessible only by boat. Its small beach was in use 2,500 years ago by founders of Phocea, the town that evolved into present-day Marseille. Now the beach is the starting point for scuba expeditions around the archipelago, but in 2012 it will form the heart of the Parc National des Calanques, an undersea forest ideal for swimmers, snorkellers and scuba divers.

Source: The Guardian

Bordeaux shines after tourist makeover

admin — 23/03/2011 12:16:00

The English have always liked Bordeaux. It presents them with a neat and nifty range of familiar French staples: old patissiers, echoey churches, pretty cafes with unsmiling waiters, old cobbled streets, and women who swoosh past, helmetless, on bicycles. Or perhaps the English see something of themselves in the proud, reserved character of the Bordelais. This is a town that never bothered with tourism, that didn't have to: it had already made its money on spices, slaves and grapes.

A decade ago, Bordeaux's buildings were soiled by age and neglect, the town a shabby sump of rotting docks and stagnant industry. Things are visibly changing. Modern trams now purr and whine through scrubbed boulevards; in the main square, the Corinthian columns of Victor Louis's Grand Théâtre seem to glisten. We stayed at the renovated Hôtel de Normandie (7 cours du XXX Juillet, +33 (0)5 56 52 16 80, hotel-de-normandie-bordeaux.com, rooms from €95, breakfast €15pp), brilliantly placed in the city centre and near the successful, funky wine school, Ecole du Vin de Bordeaux (3 cours du XXX Juillet, +33 (0)5 56 00 22 85, bordeaux.com, two-day course on Bordeaux wine from €218pp). The city is cleaning up the knackered old cathedral, too, which the Pope consecrated in 1096 in an early example of urban planning.

Parts of Bordeaux still seem timeless. The old city is spliced by rue St Catherine, one of the longest shopping streets in Europe, flanked by boutiques and shoe shops. Near the big clock, one of the few surviving landmarks from the medieval period, a spice shop called Dock des Epices (20 rue Saint-James, +33 (0)5 56 44 41 57, dockdesepices.com) fugs the street with the smell of cumin and cassia. I bought some livid purple salt flavoured with local wine – it goes beautifully with fish. A rather grand cafe, Baillardran (55 cours de l'Intendance, +33 (0)5 56 52 92 64, other branches at baillardran.com), serves exquisite canelés, the local delicacy of tiny cakes of caramelised custard.

La Tupina (6 rue Porte de la Monnaie, +33 (0)5 56 91 56 37, latupina.com, lunchtime menu from €16, evening tasting menu €60) is a stalwart side-street bistro that's been open for almost 40 years. The restaurant is famous for the heavy cooking of south-western France, but my starter was a huge slice of beef tomato, thick as a pack of cards, criss-crossed with padrón peppers, while a main of roast veal with vegetables was similarly light. Another fabulous restaurant is Le Petit Commerce (22 rue du Parlement Saint-Pierre, + 33 (0)5 56 79 76 58, le-petit-commerce.com, two-course lunch menu €12), a bijou fish place with rickety tables.

Source: The Guardian

French commercial property returns at record highs

admin — 23/03/2011 11:55:00

French commercial property values rebounded at a faster rate over the second half 2010, at 2.8%, an increase of 110 basis points on H1, according to the IPD France Bi-Annual Property Index. Meanwhile, investment grade market let residential property delivered a second consecutive double-digit annual return in 2010, at 10.4%, according to the IPD UK Residential Index.

In France, over the second half of 2010, income return of 2.9% contributed to a 5.8% total return - the highest bi-annual performance in the indices three-year history. The return to capital appreciation in 2010 brought to an end a two-year 17% slump in values.

Last year proved a turning point in French property markets: in the first six months the driving influence on capital growth - yields - reversed with a 40 basis points yield compression helping to deliver the first rise in values for two years. This capital appreciation trend accelerated over the second half of the year. Market rents were flat for the first half of the year, before mild falls the in the second.

The IPD France Bi-Annual Index - which measures 1,427 commercial properties worth around €34.5bn - reveals the strongest capital appreciation in the Paris Central Business District (CBD) and the West CBD/ La Défense district, which respectively grew by 4.0% and 4.1%. Shopping centre values, last year the most resilient segment, rose by 3.5%. Logistics properties, however, saw a -2.1% capital decline over the second half of 2010 – the only segment to continue to register capital depreciation.

Source: FinFacts

Israeli property tycoon buys former Nazi hangout in Paris

admin — 23/03/2011 11:53:00

Last September, I was ensconced in red velour, seated in the grande salle of the Hôtel Lutetia, on the Left Bank in Paris. I had just stumbled in from the hotel’s chrome-accented brasserie, where I downed a half bottle of Sancerre and six Bélon oysters, almost precisely where Simone de Beauvoir, in 1940, wrote a love letter to Sartre, whom she addressed as “Most dear little being.” Across from me was Jean-Luc Cousty, the Lutetia’s jovial general manager. It was good that I was a bit drunk because I needed to ask him something that’s not, shall we say, délicat. I wanted to know how he felt about working for a Jew.

This was not an entirely spurious question. In occupied Paris, the Lutetia, draped in swastikas, was among the most notorious redoubts for Nazi officers, and last August it was purchased by a group led by the Jewish real estate mogul Alfred Akirov, an Israeli of Iraqi extraction. The $185 million sale was immediately hailed as a way of redeeming the hotel’s Nazi past.

Conceived by the directors of the neighboring Bon Marché department store, the Lutetia opened in 1910 as a rest stop for out-of-town shoppers. From its inception, the hotel has been a frumpily elegant repository of Left Bank anecdotes and intrigues. De Gaulle spent his wedding night here. Isadora Duncan came when she was broke and insisted on ordering Champagne. Picasso was in residence when he learned of Apollinaire’s death. (He sat perfectly still for a long time and then continued work on a self-portrait.)

But let’s cut to the Nazis. When Oskar Reile, the Prussian spy catcher, first arrived at the hotel, in June of 1940, a German colonel greeted him with a glass of Champagne. Reile was attached to the Abwehr, the German intelligence outfit with a headquarters in the Lutetia, which paid bonuses to informants for every Resistance member whom they betrayed. Interrogations would take place inside the hotel, in a room with a window that looked out onto the notorious Cherche-Midi prison, where torture victims reportedly were placed in tubs of water that were gradually brought to a boil.

Alfred Akirov knows about all this history, but he does not seem particularly moved by it nor is he proud or boastful that a former Nazi hotel is now under Jewish ownership. When I spoke to Akirov and referred to news reports that suggested the purchase was rooted in symbolism, he snapped, “Look, I don’t think this is the reason that a public company does a deal. It is not a hobby. It is not personal.”

Indeed, the Lutetia is just another plum property in His rapidly expanding hotel portfolio. Akirov is currently in the process of transforming two other buildings with rich historic pedigrees — the Café Royal in London and the Conservatorium in Amsterdam — into five-star hotels, which are scheduled to open within a year.

Source: The New York Times

HSBC releases online app for expats

admin — 23/03/2011 11:16:00

HSBC Bank International has today announced the launch of its new interactive Expat Explorer tool, an online resource providing users data from the company's annual Expat Survey. While we're not big on sifting through massive amounts of data, the reports available could easily prove useful to people looking to spend extended amounts of time living and working in another country.

One of our favorite features? The three categories, Economics, Experience and Offspring each have easy-to-use dropdown tabs to categorize countries by qualifications that matter to you, including "healthy diet," "organizing school for my children" and "social life." Plus, each unique query generates its own link, which can be shared with friends and family and across social media sites, which easily can provide a colorful picture of what life will be like in a new location.

Of course, the survey isn't perfect - from the boxes we checked, we'd be best off living in Bahrain ... naturally, the findings are based on 2010 survey data and not current events.

"Considering a move abroad can be a daunting prospect, often involving a huge amount of research," said Lisa Wood, HBSC Bank International's head of marketing. "[H]opefully through our new online resource we'll provide some really useful insights for any potential expats."

Source: Gadling

Monaco tops world life expectancy list

admin — 22/03/2011 12:11:00

"Old people" - we all hope to live long enough to earn this distinction. In some countries, the probability of living well into your eighties is much better than in others. The worldwide average for life expectancy is just a smidge over 67, with the highest and lowest countries fluctuating by over 20 years in each direction.

39 of the bottom 40 countries are located on the African continent, and 3 of the top 5 are European micro-states. The United States ranks in at number 50, boasting a life expectancy of 78 years old.

At the bottom of the list is Angola, a country in southwestern Africa. The average life expectancy in Angola is almost 39 years old. At the other end of the spectrum is Monaco (pictured above). Monaco is a micro-state in Europe with an extremely high standard of living. The average person there lives to be 89 years old.

The 50 year gap between these two countries represents the difference between yacht ownership and subsistence farming, and every other country falls somewhere in between.

For the full list, check out the world fact book at cia.gov.

20. Bermuda

19. Anguilla

18. Iceland

17. Israel

16. Switzerland

15. Sweden

14. Spain

13. France

12. Jersey

11. Canada

10. Italy

9. Australia

8. Hong Kong

7. Singapore

6. Guernsey

5. Japan

4. Andorra

3. San Marino

2. Macau

1. Monaco

Source: Gadling