Real Estate in France - Wine Property in Sophisticated Burgundy

It’s difficult to buy a home in the very sophisticated wine villages of Burgundy. This French region’s fertile land is worth much more to the locals cloaked in neat rows of vineyards than it is developed into modern housing so there is a real shortage of supply. But there is a solution and that’s to breathe a new lease of life into the derelict and the disused.

To the east of central France, spilling into neighbouring Switzerland, Burgundy is the epitome of romantic peaceful countryside. Running through the heart of the region is the Côte d’Or, a narrow escarpment snaking from Dijon to Beaune and home to tight clusters of irresistible stone villages. This is Arena Park France territory and Burgundy at its most pure. Vineyards roll as far as the eye can see, guarded and respected by the wealthy landowners to be passed from generation to generation. A sense of quality percolates through every aspect of Côte d’Or life and foreign property buyers find its finesse and authenticity highly alluring - wishing to assimilate rather than alienate.

Whilst it would be impossible to tire of the Cotswolds-esque villages picnicking amongst the vineyards, step outside of the Côte D’Or and you will find the Burgundy of the travel books. Defined by its imposing architecture - great Abbeys and majestic chateaux encircled by reflective moats, Romanesque churches and nostalgic arched bridges – Burgundy life revolves around outdoor living. The region has over 1,200km of navigable waterways (including France’s oldest working canal) lined with poplars and lilacs alongside fields of poppies and sunflowers. Landlubbers can cycle or stroll along the picturesque canal paths meanwhile golfers can swing their clubs in the region’s 20 or so golf courses, some in the grounds of grand chateaux.

Yet of course it is Burgundy’s renowned elixir that has shaped its landscape and economy more than any. There is evidence of vine-growing in the area from Roman times but certainly ever since the 17th century, when Louis XIV’s doctor prescribed wine to alleviate the symptoms of royal indigestion, the region’s south facing slopes have been shrouded in healthy vines and its grand residences inhabited by well-to-do vignerons. From Chablis to Côte de Beaune, every Bourgogne menu has dishes swirling in the nectar from poussins to escargots and of course the signature boeuf bourguignon.

The region is easily accessible from northern Europe. Nearest big city Lyon is home to France’s fourth busiest airport served by BMI, BA and EasyJet to the UK whilst also being on the high-speed TGV route - as is Dijon a 20-minute drive from Beaune. Paris is a two and a half hours by road from central Burgundy.

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Swine Flu Outbreak: More Answers Needed

Not since the panic of 1976, when a Fort Dix, New Jersey soldier died and four of his fellow recruits became ill, has there been such attention paid to swine flu. The 1976 “outbreak” triggered a massive effort from the US government to immunize the entire population. The pandemic never materialized despite only 24 per cent of the population receiving the vaccine, and some criticized our government for making much ado about nothing. Moreover, there were over 500 cases of Guillain Barre Syndrome attributed directly to the vaccination. Are we currently heading down the same path, or is there good reason to be concerned about an emerging epidemic?

Each year, anywhere from 250,000 to 500,000 people die worldwide as a result of influenza. So what is so different about the swine flu? In 1976, scientists were very concerned because the swine flu isolated from the Fort Dix soldiers closely resembled the flu strain responsible for the pandemic of 1918 that killed countless victims worldwide. Unlike the human influenza A strains that circulate each year, and for which the World Health Organization develops annual vaccines, the swine flu’s primary host is the pig, and is an unknown entity without a “track record” of virulence. As such, epidemiologists do not know what to expect. Generally speaking, new flu viruses are harder for the immune system to defend against, so they can reproduce rapidly and overwhelm the body’s defenses. Ironically, the body can even overreact to a new virus- the so called “cytokine storm”- which may lead to grave illness or death.

The seriousness of the current swine flu from Mexico has yet to be determined. Several dozen cases have been reported in five states over the past few days, but no one is yet critically ill. On the other hand, there are already over 140 deaths reported in Mexico from (presumably) the same strain. History does not help us. In 2007, there was a little publicized outbreak of swine flu in the Philippines that resulted only in mild illness. There were also about a dozen cases of swine flu reported in the United States between 2005 and 2009 - none of them lethal.

A pandemic has three features- the ability to spread rapidly among humans, the ability to cause serious illness in a high percentage of those infected, and novelty in the world of flu viruses. So far, the Mexican swine flu has proven to only have one of these features- it is a strain not previously identified. We will be watching as this story unfolds.

By Frank Gillingham, MD
source http://www.healthytravelblog.com/

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Working Overseas - Weak Economy Creating Strong Demand for Au Pairs

The latest figures from WYSE Travel Confederation show that the au pair industry is up 1.6% on the same period last year, as demand for flexible childcare continues to grow during the recession.

Good news for au pair organisations who gathered from all over the world at the industry’s annual conference recently!

Hundreds of organisations offering cultural exchange, working holidays, au pair placements, internships, gap years, and volunteer programmes met in Vienna, Austria, for the Work Experience Travel Market and International Au Pair Association Annual Conference.

Innovative new ideas for the au pair industry were discussed by governments and leaders - including the possibility of au pairs caring for the young and elderly - as aging populations present an increasing problem for many countries.

The demographics of au pairs themselves are also changing - as more young people both male and female - view it as a viable way of acquiring essential skills for the global workplace.

Take for example, the conference’s annual ‘Au Pair of the Year Award’ - won this year by a 24 year old Brazilian journalist called Ricardo - who used his time as an au pair in the US to improve his English language and get a real taste of American life.

Since 2004, the number of au pairs working in the United States has risen by 44% to 22,000 according to data from the U.S. Department of States. Members of BAPAA (the British Au Pair Agencies Association) also report an increase in the number of au pairs working in the UK this year, although no official figure exists.

WYSE Travel Confederation’s April issue of the 'Youth Travel Industry Monitor' found that youth travel organisations are responding to the recession with increased marketing and online initiatives, rather than by simply cutting prices.

WYSE Travel Confederation's 560 members in 120 countries serve 10 million youth and student travellers each year. The youth travel industry monitor is published every two months based on members' feedback of business trends worldwide. For more information visit www.wysetc.org


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Buying Property in Brazil - Ten Things You Need to Know

Ditch the blinkers and remove the rose tinted specs. Samantha Gore, Head of Sales and Marketing for Brazil experts tells us ten things you probably didn’t, but definitely should, know about investing in property in Brazil.

1. Cheap is not always cheerful. Talented graphic designers are able to make the proverbial silk purse out of a sow’s ear but constructors on the other hand cannot make a good quality product using low-grade building materials, which is what (s)he’ll be using if the list prices are bargain basement. Cheap land could be another reason for low prices, so where exactly is it? A property in near-isolation is never going to be a good investment. Brazil is unimaginably big, occupying nearly half of the South American continent, so amenities could be far away, and when we say far away, on a scale many European’s would struggle to perceive.

2. Beachfront is not always blissful. We know Brazil is a large country and it has a mammoth 7,400km of coastline to match, so you could end up in near-isolation again. Where’s the nearest shop, bar, restaurant? If you cannot answer that question then how are you going to sell your property on to a subsequent end-user? A good rule of thumb is that if Brazilians have bought in the area then it has something going for it, for this is a nation with famously good taste. Property in popular towns with laws protecting them from overdevelopment are the most lucrative option, beachfront or not, particularly if there are plenty of local activities to attract and occupy the tourists.

3. Estate agents do tell the occasional lie. Has your chosen estate agent ever been to Brazil or are they simply regurgitating a mixture of the developer's marketing material and Wikipedia? Be wary of the latter. It’s much better for you, the customer, if your agent has been on site, cast a critical eye over the location and qualities and is able to offer their considered opinion.

4. Build your own is rarely a smart move. If all you want is a holiday villa don’t be tempted to source a plot and build your own. Brazilian red tape can be a real nightmare and finding reliable contractors even worse. While prices are so good buy though a developer who has put in the hard yards for you and can offer security and rental returns, some even guaranteed.

5. Safety first. Common sense dictates that even in the very safest parts of Brazil, such as in and around Natal, in a country where there is a marked disparity between rich and poor a detached villa on its own plot is vulnerable if left unoccupied for months on end. Stick to multiple-dwelling resorts, many are gated with security for absolute peace of mind and as a bonus they’ll also maintain the gardens so you don’t come back to a wilderness.

6. License to Build. Those peddling cheap building plots may well truthfully tell you that they have "permission to build". However, what they may fail to add is that this is usually just outline planning permission and not an actual building license. Getting your license may prove extremely time consuming and there are also different types of land title in Brazil so you need to make sure that yours has the right one for the job.

7. Legal eagles. Enlist the services of an independent lawyer licensed to practice in the State in which you’re buying. Finding reliable and efficient lawyers in Brazil can be tricky so don’t hesitate to ask your estate agent to recommend someone who has done good work for its clients in the past. You can decide at the end of the day who will do the best job for you.

8. Keep a paper trail. Is your money going into Brazil? Aside from marketing costs which may be treated separately and be payable in Europe, funds transferred to Brazil will be automatically registered by the Banco Central to conform with money laundering regulations. This paper trail is important when it comes to reselling and getting your money back out and something you should take seriously.

9. Guaranteed rental isn’t the be-all-and-end-all. Is the “guaranteed” rent gross or net of condo fees and bills? How long is the income guaranteed for? How much private use of your property does the rental contract entitle you to? Is the “guaranteed rental” actually funded by you as you’ve paid an artificially inflated purchase price? Read rental contracts carefully and do your research. Better to buy in an area with an active rental market or great facilities to attract tourists, then, whether the rental is guaranteed or not, you stand to make good money regardless.

10. Ask, ask and ask again. Your estate agent is there for advice, guidance and information and should have thorough product knowledge. You are entitled to have sight of all information such as licenses, contracts, plans and so on once it becomes available. Buying off-plan involves a lot of research and a sprinkling of faith so get your facts straight.

More information on buying property in Brazil

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Guide to the best Algarve Golf Locations

The Algarve is famous for quality golf and with over 40 courses in a 200-mile area, there is something to suit every mood. With excellent year round access to Faro international airport from Europe and all courses within an hour or so from here, getting to them is also very easy.

Serious and hobby golfers alike will not be disappointed. The Algarve has attracted golf tourists for years and the facilities are mature and very well maintained.

The fabulous summer weather and dramatic scenery for which the region is renowned are perfectly combined with warm winters to make year round golf a pleasure - high golf season is from late autumn to late spring.

In addition to golf, the white sand beaches along the entire length of the Algarve coastline are beautiful and rated amongst the best in Europe. Most have the “Blue Flag” classification, awarded for the highest standards of cleanliness.

At the Western end the landscape is rugged and breathtaking and in addition to golf is fantastic for sailing and water sports. The Eastern and Spanish Algarve is the most sheltered part of this Atlantic coastline and the sea in the region is shallow, safe and warm for swimming all year.

Unlike the Costas of Mediterranean Spain there are still miles of completely unspoilt coastline. The Portuguese authorities are very conservative and strict planning regulations mean that over development will never be repeated here.

In general, you will find that the Algarve, with its warm climate, reasonably priced restaurants, breathtaking scenery, friendly people and excellent golf courses all combine to make it an ideal place for a holiday home.

Here are some details of golf courses in the area

Western Algarve:
Parque da Floresta, 18 holes, par 72, 5,670 metres.
This wonderful course is located at the south westerly tip of Portugal – at the lands end” of Europe. It is a rolling and undulating course that works in harmony with the surrounding countryside and was designed by Pepe Gancedo, a Spanish amateur champion. With real character, many of the holes are challenging and so the course attracts many expert golfers looking for a test.

Pinta, Carvoeiro, 18 holes, par 72, 5,679 metres.
Ronald Fream designed this Championship golf course which features a good natural diversity, bunker distribution as well as some lovely man made water features. Located near Carvoeiro, Vale do Pinta has recently managed 5 Seniors Tour events in a row that is testament to the courses’ high standard. At the same time it manages to appear to golfers at all levels.

Boavista, Lagos, 18 holes, par 71, 5,751 metres.
Quinta da Boavista is located by to the sea next to the town of Lagos on the Western Algarve. An absolutely stunning course, there are almost too many features to mention in a summary but these include fabulous sea and mountain views, natural lakes and waterfalls, holes by deep ravines and chasms and panoramic views to Lagos and Portimao. A must play for Algarve golfers of all standards.

Penina, Portimao, 18 holes, par 73, 6,273 metres.
One of the first golf courses in the Algarve, Penina is the grandfather of golf tourism in the Algarve and designed by the late Sir Henry Cottons. A high standard Championship course of renown, Penina is an open course with many water features and extensive planting and tree cover.

Central Algarve:
Millennium, Vilamoura, 18 holes, par 72, 6,157 metres.
Vilamoura is one of the world’s premier golfing communities mainly because of its fantastic array of courses (6 in total) in addition to comprehensive leisure, commercial and entertainment facilities. Located by one of Portugal’s largest marinas the resort has something for the whole family and over 250000 rounds of golf are played per year. Designed by Martin Hawtree, the Millenium course is well known for its beauty, playability and precision. Set in rolling countryside, the course benefits from well-designed water and bunker hazards, extensive planting and natural flora including wonderful umbrella pines that are common in this part of the Algarve.

Vila Sol, Vilamoura, 27 holes, par 72, 6,950 metres.
Vila Sol is one of the most well managed courses in the Algarve and is always pristine and well maintained. Only 8 months after it opened in 1991 it hosted the 1992 Portuguese Open.

Ocean, Vale do Lobo, par 18, 72 holes, 5,815 metres.
Re-opened in 1996, this course is the result of merging 2 older courses previously known as the Green and Orange. In the prestigious Vale do Lobo area, there are several very challenging holes some of which travel right past the beach and make this a must play for competent golfers.

San Lorenzo, Quinta do Lago, par 18, 72 holes, 6,238 matres.
Officially rated as one of the top 3 golf courses in Europe, San Lorenzo has been open since 1998 and has an exclusive reputation as the Algarve’s best golf course. With many celebrity patrons and events being held here, it is a must play for anyone serious about their golf. Its beauty is enhanced by the Ria Formosa national park by which it is located.

Eastern Algarve:
Monte Rei, Tavira, 18 holes, par 72, 6,591 metres.
Designed by Jack Nicklaus, Monte Rei has 2 signature courses located in the Eastern Algarve hills before the Serra do Caldeirão mountains. As you would expect from Nicklaus design, the course integrates fantastically into its natural environment and is home to dramatic landscaping, golf hazards and an excellent golf academy.

Castro Marim, Castro Marim, 18 holes, par 71, 5,092 metres.
The Castro Marim Golf & Country Club is located by a traditional Portuguese town of the same name and has developed steadily over the last 10 years into a fantastic and mature golf course. With excellent views of the ocean and Guadiana River, the course is the furthest East of any Algarve golf course but has a loyal following of regular players.

Quinta da Ria, Cabanas, 18 holes, par 72, 6,016 metres
With beautiful views of the sea and Ria Formosa Natural Park this course is in rolling countryside by the pretty town of Cabanas. With mountain and sea views from all areas the course is a joy to play and the surrounding vineyards only add to the beautiful setting.

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Couple win legal battle over villa in Spain

Len and Helen Prior, a retired British couple who became the first expatriates to have their property in Spain destroyed after Government officials ruled that their £570,000 villa had been constructed illegally, have won a significant legal fight in their bid for compensation...

The Spanish Supreme Court has ruled that the demolition order for the property in Almeria was in itself illegal because the correct procedures were not followed, denying the Priors their right to appeal against the ruling to demolish their home.

The Priors have been living in their garage ever since the dwelling was bulldozed in January 2008.

The couple constructed their villa in Vera with planning consent from the town hall, but regional planning authorities later stated that the permission granted was invalid.

It is estimated that there are around 20,000 illegally built homes in Marbella.

Source: www.homesoverseas.co.uk/news

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Moving to Argentina – A soft landing in hard times.

Most people who are considering living overseas have already established the reasons why they are seeking a new life on foreign shores. The next task is to establish the best country to move or retire to.

There has never been so much information available to make this important decision and facilitate the crunching of the variables about cost of living, weather, health care, education, infrastructure, political and social climate.

For many Americans and Europeans being close to their home country is a priority. In the volatile socio political landscape these days is that really the wisest decision? It’s no secret that hardcore religious fanatics are bent on forcing their philosophy on the rest of the world. If the ´west´ doesn´t convert they believe that populations of entire countries deserve to die. Weapons of mass destruction will sooner or later fall into their hands.

Many will dismiss this as bad plot for a James Bond movie. But is it really that farfetched?

For the smart person looking for a soft landing overseas moving to Argentina could be the best option. Here are the reasons why.

•It is well down in the southern hemisphere well away from potential conflict hotspots.
•Cost of living is extremely low
•Health care is good and cheap
•Infrastructure is excellent
•Weather is mild in most areas, no hurricanes or tornados
•There is no animosity toward the country from extremists
•It is not dependent on foreign oil
•Its protectionists markets make it very self sufficient
•Foreigners by law have the same rights as Argentines in most matters
•Favorable residency/citizenship regulations

One of the most undervalued areas of Argentina is the Mendoza Province in northern Patagonia. This is known as the Napa Valley of Argentina. It gets 340 days on average of sunshine a year. Real estate is very cheap now.

Mendoza city is the capital of the province and real estate price have moved up steadily. Just to the south is San Rafael a town of about 120,000 where the smart money is quietly buying up real estate.

Large corporations from Europe, Canada and the United States have recently bought tracts of land for development. Some popular investments are wineries with vineyards. These are good for export as the domestic market in Argentina is saturated.

Another red hot investment is small self sufficient hobby farms; these are good for the person worried about the world economic situation and want to be comforted by the thought of being able to produce the basic essentials for survival. Another option is to buy a small farm near towns and convert the farmland to lots for residential development with potentially very large profits.

Looking at the big picture I would challenge anyone to find a better place than Argentina to invest or emigrate now.

Selected properties in Argentina

Country cottage on 7.5 acres
3 Houses on 3 acres with good rental income potential

Many more properties in Argentina are available here


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Rewarding Retirement - Volunteering for Seniors

Seeking to harness the wisdom of senior citizens, Hands Up Holidays, the award winning responsible travel operator, encourages voluntourism among older adults as a way to give back and also increase personal fulfillment and meaning. The participation of older persons in volunteerism blended with comfortable sightseeing has dual benefits: it enables seniors to share a wealth of skill and experience with other communities; and in doing so it keeps them active physically, socially and psychologically.

Senior volunteering is more diverse than ever before and offers opportunities for older and retired people to render their time and skills in education, health, repairs and renovations, and to protect the environment with the purpose to change the destiny of disadvantaged and marginalized communities. Hands Up Holidays has arranged volunteer vacations for a growing number of ’young at heart’ people, where they benefit positively from being actively involved with volunteering.

Volunteer holidays, which span the world, are prepared in such a way that let participants to contribute in ‘hands on’ ways to the needy community. With Hands Up Holidays, Seniors receive a grass-root sense of the cultures they visit, in Europe, Africa, Asia, Pacific and Latin America. The award winning responsible tour operator arranges meaningful voluntourism trips for ‘grown ups’ that let them engage in activities that will use their skill and give them a sense of purpose.

About Hands Up Holidays:
Hands Up Holidays believes that travel can make a positive difference, and arranges small group and tailor-made voluntourism trips for young professionals, corporate, retirees, families and honeymoon volunteers around the world. The trips start from 4 days although 8-15 days is typical; lodging can be in five star accommodations or in tents; volunteers can engage in community development or environmental awareness, along with exploration and sightseeing.

For further information about voluntourism trips for 'Grown Ups’, please visit:
www.handsupholidays.com/read/seniors

Golf Estate property booming in South Africa

During the past five years there had been significant growth in the residential golf estate sector in South Africa.

So says Dr Andrew Golding, chief executive of the Pam Golding Property (PGP) group, who adds that "during this period, 50% of a total of approximately 30,000 residential golf estate properties – located within 66 golf estate developments – came onto the market in South Africa".

"Around 4,000 of these were sectional title properties. From a regional perspective these are spread in Gauteng (around 33% of total stock), the Western Cape (30%) and KwaZulu-Natal (16%). Naturally some of the older and well-established estates such as Fancourt, Erinvale, Camelot, Princess Grant, Mount Edgecombe, Dainfern and Centurion have been around for more than 10 years.

During 2008 prices paid for property in golf estates ranged from R350k – for land in less expensive estates – to over R10m, considerably up since 2005 when prices ranged from R265k for land in more affordable estates to around R5m for houses in more upmarket estates. Similarly the middle-price range paid for stock in 2008 was R680k to R2,5m compared with R500k to R1,3m in 2005.

Golding says while there were more than 5,000 transactions per year in 2005 and 2006, dropping slightly to approximately 4,700 in 2007, unsurprisingly sales volumes in 2008 fell – however, this trend follows a reduction in volumes in residential estates in general rather than being a trend simply in golf estates. Sales volumes for 2008 stand at around 1,700 - but this figure is likely to increase as more registrations filter through the deeds office.

"Bear in mind that there are in essence two distinct subsets of golf estates – those located within the major metropolitan areas and which have similar characteristics to suburbs within cities, and those catering primarily for the secondary market. The performance or price appreciation of the primary metropolitan golf estates has been very much in line with the metropolitan performance of that particular area and generally the adage that such a golf estate will perform better than the surrounding suburb still holds true – sometimes by as much as 25%."

He says for golf estates outside the major metropolitan regions the picture is different – these are characterised by an oversupply of stock both in terms of undeveloped land and built homes, where sellers are unable to sell these properties due to a lack of buyers. Here there is no particular product mix or offering that is achieving better results than the others in these secondary markets – whether fractional ownership, syndication, vacant land, corporate lodges or built homes, the market is depressed in all these sectors.

So what is the future of golf estates in South Africa? He says there are currently a number of trends or opportunities that prospective golf course developers and investors could consider. First - retirement space. This is one segment of the market that continues to grow and is undersupplied, and likely to remain so for many years to come. While it requires specialist knowledge it represents an excellent investment opportunity.

Then there is the hamlet trend, the emergence of small town South Africa whereby people are electing to live in smaller towns for lifestyle reasons and because of their ability to conduct their work – from a technology perspective – from home or even to commute from these areas.

"Many of these small towns have municipal golf courses, which I believe is an opportunity for the conversion of existing municipal golf courses into residential golf estates at a number of price levels in the market. The need not necessarily all be upmarket and perhaps there is an opportunity to tap into the middle class segment of the market through these municipal courses – both within cities and in the smaller towns of the country and which are within one to two hours' driving distance from an airport.

"There is also an opportunity to tap into international marketing opportunities in order to increase the current percentage of foreigners who purchase residential golf estate property. There are currently a handful of packaged opportunities for residential golf course developments which are fully zoned and ready to go to market or to be land-banked, ie. investing capital now for launching when the market recovers. I believe such opportunities exist certainly in Europe and the Far East, but also specifically in Africa, where large numbers of high-net worth African investors have already made significant investments in South Africa."

Shaun Ascough Group Managing Director of Cape Town prime property specialists, Sands Home Search comments: "Property in Steenberg Golf Estate in the southern suburbs of Cape Town is one of the most expensive places (per sqm) to buy property throughout the whole of South Africa. Demand remains strong for buyers wanting to buy in Steenberg Golf and Security Estate".

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Real Estate in Greece May be the Word, but Corfu is the Dream

Last month a leading international property portal reported a massive 120% increase in the numbers of people actively interested in a home for sale in Greece compared to the numbers who were looking for a Greek property just one year ago. According to Britain’s The Independent newspaper, this increase in interest has been fuelled by the success of the musical Mamma Mia!, and it’s proving to be a sustainable increase as buyers realise their property dollars go far further in Greece than in traditional Mediterranean facing destinations in Europe.

All of a sudden ‘Greece’ is the word on property buyers’ lips, and as one of the most developed, idyllic and accessible locations in the entire nation, the island of Corfu is the destination where thousands of would-be buyers are fixing their attentions.

Offering all of the idyllic charms of Skopelos and Skiathos where Mamma Mia! was filmed, the island of Corfu also offers buyers the benefits of a near perfect year round climate, stunning Ionian Sea views, a developed infrastructure, cheap and scheduled international flight accessibility as well as property prices that have remained realistic and therefore sustainable in the face of fluctuating property fortunes elsewhere in Europe.

“Greece is a destination favoured by home seekers as well as holiday makers, it is not a market that has been damaged by speculation or over-development, and as a result we’re happy to see the ongoing levels of international interest in homes for sale, particularly on the Greek islands such as Corfu.” Reports Spiros Makrodimitras, Greek property expert.

With property prices ranging from the USD 100,000 mark for a spacious and traditional village home to over USD 650,000 for a stunningly luxurious villa complete with pool and breathtaking ocean and landscape views, Corfu has a dream home for everyone. And with weekly villa rental rates averaging USD 3,000 in peak season on the island of Corfu, this is also a property investor’s paradise too.

So, whether you’re looking to live the laid back dream like Meryl Streep in a traditional stone property in rural Greece with spectacular sea views, or you want to find a beautifully styled modern villa on the beach where you can holiday and profit, Corfu is an island worthy of much closer inspection.

Expats Returning to South Africa to Escape Financial Crisis

With FIFA 2010 coming up, Cape Town South Africa remains an exciting property investment and offers superior world class living for it's residents.

Big-ticket home sales, which have been missing from the market for months, have started to re-appear in the wake of improving sentiment.

Several luxury homes have been sold in SA, including some of the finest property in the Southern Suburbs and the Atlantic Seaboard.

"Last year there was only bad news – Eskom, Zimbabwe, higher interest rates and bigger deposits – and everyone froze in their tracks and put home purchasing on hold. This year there is much good news among the bad, people have adjusted to their new circumstances and things are starting to move again," he says.

Many of these multimillion-rand sales are cash deals and so do not really depend on declining interest rates but on improving sentiment. Prices have also declined substantially and this always induces the shrewd market to come out of woodwork.

Public reports confirm that emigration has dropped drastically and significant numbers of expats are returning to South Africa as they flee the fallout of the financial crisis in the UK, Europe and Australia. This is another positive for SA in terms of meeting our skills shortage and creating jobs that will ultimately boost housing demand.

Meanwhile, interest rates continue to fall and are expected to fall further in the coming months. Inflation is falling and disposable incomes improving, which is already increasing the demand for housing.

With FIFA 2010 Football World Cup just around the corner it does appear that we are now on the threshold of the bottom of the market and that a turn is in sight. Big-ticket sales are a strong indicator of returning confidence and this combined with an improving credit outlook should see prices stabilise in the second half of the year.

Real Estate in Malta - Taxing times

The Maltese Government has launched a new redemption scheme for property that is leased from the Government – which could means that homeowners stand to lose up to 25 per cent of the property’s value as they have been prevented from applying for the ground rent redemption scheme for four years.

Maltese property owners affected by this new scheme are furious that they stand to lose up to a quarter of the value of their property.

Owners of properties leased out from the Joint Office, which are currently subject to a ground rent redemption scheme which was introduced in 2002, claim to have been prevented from applying for the scheme for four years and now stand to lose out in a big way.

When the scheme was first brought in seven years ago, it gave owners the opportunity to redeem the ground rent, thereby becoming owners of their own residences. The scheme was in line with the spirit of the Church-state agreement of 1991 whereby the Church transferred to the state about 80,000 properties for these to be used in the furtherance of social justice.

As expected, this scheme was greatly welcomed and more than 5,400 requests for redemption were made to the Government Property Division (GPD) but more than 3,000 were turned down without due explanation.

Last month, the conditions of the scheme were changed in order to avoid abusive property speculation – some speculators were making thousands from the scheme and many of the properties were turned into blocks of flats.

Now, applicants are required to satisfy a set of checks that will determine that the property being redeemed is indeed the applicant’s residence.

If the property is redeemed and then sold for redevelopment purposes, a percentage of the resale shall be paid to the Government, and if the resale takes place within five years from redemption, 25 per cent of the reselling price will need to be paid to the Government.

Thus, owners stand to lose up to a quarter of the value of their property.

After five years, the percentage paid drops by five per cent every five years. After the first five years, no percentage will be due to the Government as long as the unit of residence is used as a residence for a maximum of 20 years.

Real Estate in Bulgaria - A good time to buy ?

At the end of 2008 prices for Bulgarian property were up 11.7% from a year earlier and whilst this would be good growth in any other market, for Bulgaria it was a rapid slowdown. Prices rose 27% in 2007, 16% in 2006 and 37% in 2005 as Europeans and Russians rushed in to buy, prior to the accession of Bulgaria into the EU. The main areas attracting foreigners were on the Black Sea coast and in Bulgaria’s ski resorts, with the resorts of Bansko, Pamporovo and Borovets attracting a lot of overseas buyers. But as with most other countries, demand for property in Bulgaria is slowing. At the end of 2008, building permits were down 15% compared to a year earlier and in January of this year around 5% of Bulgaria’s real estate agencies shut down.


In 2007 Bulgaria was the fourth most popular destination for British overseas buyers and the number one destination for Russians, because of the countries strong economy it was also the destination of choice for a number of multinational companies who’s employees also helped push up prices. Things are different now and there is a definite cooling down of the economy and Bulgarian property prices are predicted to drop around 10% this year, mainly due to low demand.


But interest in real estate in Bulgaria is likely to continue and this year may well be a good time to buy as the market looks to remain relatively stable. Tourism in the country is also likely to help prevent the market from stagnating too much. A recent survey carried out by British up market store, Marks and Spencer’s’ Financial Services division recently listed Bulgaria as the cheapest place to take a winter ski holiday. With a three course meal costing around $9.00 per person as opposed to $40.00 in Italy and $56.00 in France and a bottle of beer costing only $1.20. The country is also seeing expansion of Budget Airline routes, so will be accessible to more people, another factor that continues to help property appreciation in Europe.


With some developers in Bulgaria now offering below market value property it would seem that real estate in Bulgaria will continue to offer overseas investors good value for money and long term prospects. A number of companies are offering properties with discounts of 30-40% and you can pick up rental properties in Bansko, the countries premier ski resort for just $25,500.

Providing you research your property and buy in an area with good road, air and rail connections real estate in Bulgaria should continue to offer good returns and the global credit crunch may actually help. According to Britain’s BBC news network, holiday choices for Brits are being limited due to a shortage of cash and many more are heading to cheaper destinations such as Bulgaria for their holidays, which may in turn give rise for better rental returns for owners of property in Bulgaria.

You can contact the author of this article for more information on how to buy and invest in property in Bulgaria

Guide to buying a property in Morocco

Economy: Despite the global economic malaise, Moroccan GDP rose by 6.5% in 2008, compared with 2.7% in 2007 and 7.8% in 2006. The economy is predicted to grow by an average of 5.5% per annum from 2009 - 2013. Banks were very conservative during the global boom years and did not speculate in sub prime and now the Telecoms, Agriculture, Manufacturing, Mining and Services industries are growing fast. Real estate is also a major growth industry and the investment over the last 5 years from many of the worlds leading developers (Emaar, Quatari Diar etc etc.) is also having a positive impact in Morocco.

Once a French protectorate, the country has a modern economic system and a pro-west outlook with established trading links to both America and Europe where it is perceived as a strategically important stepping stone into the Muslim world.

Tourism: King Mohammed VI ascended in 1999 and is a young, forward thinking and extremely popular monarch. He has led many reforms including a comprehensive plan for the tourism sector called Vision 2010 that aims to attract 10 million visitors to the country by 2010, bringing in $9 billion of foreign exchange and creating 600,000 new jobs.

As part of this programme, miles of coastline, urban locations and infrastructure will be transformed. This includes the “Plan Azur” – 6 super luxury coastal resorts that will attract wealthy northern European investors and visitors to the country. The plans are based on real and not expected demand - hotel and guesthouse occupancy rates were up by 9% in 2008, boosting the average occupancy to 49%. Marrakech recorded the best results with occupancy rates of 70%.

With 8 million people flying into the country in 2008, the Vision 2010 goal is well on the way to being achieved and makes the target of tourism providing over 20% of GDP by this time eminently possible. It is already the 2nd largest source of foreign currency and income from the sector totalled 7.55 Billion Dollars in 2007 when tourist arrivals totalled 7.4 million.

The tourism industry attracted Dh4.46bn ($509m) in 2006, according to the Department of Investment (which only monitors large projects) and this represented some 22.3% of total recorded investment. In March 2006, two Dubai-based companies pledged an impressive $17bn over the next 10 years to tourism projects – this deal was the largest ever recorded.

The market is firmly established in France and growing rapidly throughout Europe, the Middle East and beyond. The Government has invested millions in advertising campaigns promoting the country as a premier cultural and lifestyle destination.

Property: The government have responsible development plans for their country. Strict planning rules limit development and this control means that new property is sympathetically and responsibly developed. In Saidia, building controls restrict the supply of more property around the resort for another 15 years. Subsequently, no more completed building works for another 20 years.

King Mohammed VI has changed the laws, allowing foreign investors to take proceeds of property sales out of the country and there is a double tax treaty between the UK and Morocco to ensure that this is not paid in both countries.

Taxation: Value Added Tax is 20% for new build property and often included in the price. Municipal taxes (rates) are between 10% -30% of the yearly rental value of the property with a reduction of 75% if it is your main dwelling. Income tax is exempt for up to 5 years in Morocco but following this the rental income should be declared on 60% of the total at levels between 13% and 44%. Capital Gains tax in Morocco is currently 20% but is reduced to 10% for properties held for 5 years and to 0% after 10 years. This is required on all real-estate transactions and includes the difference between the purchase price and the price at which the property is sold, reduced by the selling costs and increased by the purchase costs, investment expenses and interest payments. Inheritance tax is 0% for family members but expert advice should be obtained prior to implementing any inheritance tax planning strategies. Most importantly here you should make a Moroccan will.

Communications: An Open Skies policy is now in place between Morocco and Europe and this competition for Moroccan air space means new routes and carriers are entering the market and fares are coming down. Ryanair, Europe’s leading low fares airline have announced the completion of a five year agreement with the Government of Morocco to develop low cost air access and tourism to the country from its bases throughout Europe. This reflects the Moroccan Government’s policy of encouraging significant growth in its tourism industry as well as providing low cost access for its citizens for business and leisure purposes. The agreement covers most of the regional airports in Morocco including Oujda. Other airlines that provide comprehensive services to and within Morocco include Easyjet, Iberia, Air France, Royal Air Maroc, Atlas Blue, and Air Europe on a daily basis.

We all know that, amongst other factors, a healthy property market relies upon a thriving tourist economy. Free, easy passage for visitors via an efficient road system and public transport improves the quality and appeal of any investment location.

The announcement that a motorway construction programme to build a target 160 km of road per year until 2010 comes as no surprise within the rapidly expanding economic arena of Morocco. The result will be greatly improved communications to all areas of Morocco and a further increase in visitors who regard Morocco as an advanced country that competes well with EU standards.

Summary: Morocco is a fantastic year round destination and one of the most stable economies in northern Africa. In 2008, the IMF reported that its economy would grow over the next 5 years, even during the global financial crisis. Morocco has great long-term investment potential.

It has a warm Mediterranean climate ideal for year round tourism, 1000’s miles of unspoilt beach and a rich history / culture that attracts the more discerning kind of tourist and property buyer.

French, Spanish & English are widely spoken and because of a comprehensive government investment, programme, by 2010, Morocco will be well equipped to deal with a large number of international tourists. This growth is positioning the country as a leader in the worldwide property investment market place.

Retire in Uruguay - 10 Good Reasons

Uruguay, the small South American country famous for its beach resorts and secure banking services, is attracting attention as a great place to retire. Here are 10 reasons why:

1) Uruguay is safe
Safety is the number one reason people from other South American countries relocate to Uruguay. Uruguay is known for having the lowest rate of crime in Latin America.

2) Uruguay is stable
Uruguay is currently one of the most politically and economically stable countries in South America. Uruguayan banks have never resorted to expropriating, freezing, or forcing a currency exchange of deposits.

3) Uruguay does not tax foreign source income
Uruguay does not tax foreign source income, meaning that your pension, social security and all money that is generated outside of Uruguay is not taxed.

4) Good medical care is available in Uruguay
Uruguay has private hospitals that provide excellent patient care at affordable rates. Some retirees pay out of pocket for the care they need and others purchase health plans with a fixed monthly fee.

5) Uruguay has a comfortable climate
Uruguay is located in the temperate zone of the Southern Hemisphere and has four seasons. Daytime temperatures average 21° C to 27° C (70° F to 80° F ) in summer and 10° C and 16°C (50° F to 60° F) in winter.

6) Uruguay offers a variety of lifestyle settings

6.1 City Life: Montevideo is Uruguay’s capital and is made up of many interconnected but distinct communities with tree lined streets, neighborhood shops and outdoor cafes. Montevideo has a wide seaside walk, great restaurants, theater and several tango clubs.

6.2 Beach life: Uruguay has 200 miles of beautiful coastline that turns into a vacationland during the summer. The coast is dotted with resorts including the continents premier beach resort, Punta del Este, which offers a 24-hour menu of recreation, events and entertainment.

6.3 Country life: Once you leave the coast, most of Uruguay is green rolling prairies. The country has large estates (called chacras), ranches (called estancias) and several agricultural supported communities, most with a town square (plaza) where people come in the evening to socialize.

7) Uruguay does not have hurricanes or earthquakes
Uruguay has never had an earthquake or a hurricane.

8) Uruguay has first world infrastructure
Uruguay has good roads, safe drinking water, good public transportation, broad cell phone coverage and widespread availability of high-speed internet.

9) The people of Uruguay are well educated and friendly
Uruguay has the most highly educated population and the largest middle class in Latin America. The people of Uruguay are generally friendly and tolerant with a strongly European culture.

10) Uruguay has a reasonable residency procedure
Applying for residency in Uruguay includes a criminal background check, a health check up, and a verification of a regular source of income, such as social security or a pension.

Uruguay provides the opportunity for a retiree to live a quiet life. It is a free country out of the spotlight of major world controversy.

More information on Real Estate in Uruguay

Contact the author of this article - David Hammond

David Hammond is the author of Buying Real Estate in Uruguay, an ebook available to purchase and download now.

Buying Property in Australia - Costly Delays On E-conveyancing

The national rollout of electronic conveyancing when buying Property in Australia has been delayed, meaning that Aussie homebuyers and investors look set to miss out on cost savings worth hundreds of millions of dollars.

E-conveyancing is the transformation of the current paper-based conveyancing system into electronic form, using electronic documents, requisitions and signatures.

The Australian Government has described it as ‘Australia’s joint Government and industry initiative to create an efficient and convenient way of completing property based transactions and lodging land title dealings for registration.’

But now, the Government has taken the decision to delay the e-conveyancing - which was meant to be introduced all across the country by March next year – by almost two years.

It has now been decided that the new system will be available by Christmas 2011. This latest announcement flies in the face of the enthusiastic announcements last year by the Prime Minister Kevin Rudd and Finance Minister. At the time, they predicted that the new electronic system could save buyers ‘hundreds of dollars on every home they purchase.’

When plans were first announced to introduce the system, Law Council President-Elect John Corcoran said, “The resolution is a positive and long sought-after breakthrough in the legal profession’s campaign to see a seamless, national electronic conveyancing system implemented in Australia.”

But, with news of the long delays, cost savings were said to be worth as much as £119million.

Therefore, this new delay could wipe out £209.8 million worth of cost savings on property transactions.

The delay has been blamed on the credit crunch, which has meant that state Governments have been unable to proceed with the new system and have stumbled over the funding of the scheme.

Urgent talks are set to take place this week between Finance Minister Lindsay Tanner, representatives of the Law Council and the Australian Bankers Association to try to get the project back on track.

How to buy Mexican real estate using Bank trust, "Fideicomiso"

Mexico Real Estate is always in high demand especially among American citizens. But there are some laws that any foreigner interested in buying Real Estate in Mexico should be familiar with. Though under Mexican law, foreigners may obtain direct ownership of Mexican property in the interior of Mexico, foreigners cannot acquire direct ownership of residential property within the area 100 kilometers from the border and 50 kilometers from the coastline. This zone in Mexico is known as the "Restricted Zone". But there is an indirect way to purchase and enjoy Mexican property in the restricted zone through a Bank Trust or "Fideicomiso" authorized by the Government of Mexico. Fideicomiso is the legal equivalent of deeded ownership (commonly referred to in the U.S. as fee simple)

Earlier, foreigners were barred from owning Property in Mexico but With the North American Free Trade Agreement beginning January 1, 1994, the Foreign Investment Act of 1993 was passed by the Mexican congress to promote foreign investment into Mexico. This law allowed foreigners to own 100% of the shares of a corporation and purchase property. As a foreigner, you can acquire irrevocable and absolute ownership rights to Mexico Real Estate through a 50 year, and can be renewed every 50 years indefinitely, perpetually irrevocable and transferable Fideicomiso Trust. This enabled foreigners, as beneficiaries of the trusts, to legally enjoy unrestricted use of land located in the restricted area.

The Fideicomiso has couple of advantages of the bank trust. One is avoidance of probate and the second is transfer tax upon sale of Real Estate in Mexico.

How it works. Upon the purchase of Real Estate in Mexico through a Fideicomiso, the Mexican government issues a permit to a Mexican bank of the buyer's choice. The property Title is then delivered to a Mexican Bank which acts a "Trustee". The Bank then designates the buyers as the beneficiary of the trust. The beneficiary now can use the property. The Beneficiary has the same rights to lease, mortgaging, selling, inheriting, willing and improving the land as any other Real Estate owner in Mexico.

What Does a Bank do? There are selected banks that are authorized by the Mexican government to hold the Real Estate Fideicomiso. The process of getting authorization is very strict. The bank reviews property documents to ensure that they are complete and legal. Remember, you can tarnsfer Fideicomiso to any authorised Bank. The Property bought in Mexico under Fideicomiso cannot be expropriated by Mexican Government except for public purpose. In such cases Mexican Government has to pay market price with any interest accrued.

What does it costs? The costs incurred include:

1) Permit Fees from Secretary of Foreign Affairs, Mexico
2) Registration fees with National registry, Mexico City and
3) Annual Administration fees for the first year (depending on the bank)
4) The Bank acceptance Fees
5) 10% IVA tax
6) Closing costs which include the title search, appraisal fees, notary fees for the deed, tax certificate, filing fees, transfer taxes(2% of the purchase price) and recording fees.

Living in Canada - Tempted by Toronto?

A self-proclaimed ‘mega-city,’ Toronto mirrors New York City and is made up of what were once six separate cities; Etobicoke, North York, York, Scarborough, Toronto and the borough of East York.

The area was annexed into the City of Toronto in 1998, but the areas are still often referred to by their former names and maintain a unique flavour.

To get a feel for what the city looks like, bear in mind that, in countless films, Toronto, which lies along the northern shore of Lake Ontario, has doubled for New York City.

The Harbour front is a popular area in Toronto, home to entertainment venues and a lakeside walking trail. The celebrated CN Tower offers fantastic views across the cityscape from its viewing platform at the top – 1,815 feet up.

Toronto is a city built within a park, and with 1,500 named parks and 8,000 acres of parkland, offers the perfect green-living antidote to busy city-life.

One of the best known parks is Allan Gardens, which used to be rather seedy, but since the University of Toronto relocated its Botany Greenhouses there in 2004, has been infused with new life.

Allan Gardens was Toronto’s first civic park, created on 10 acres donated to the city by former Mayor George William Allan. Originally called the Horticultural Gardens, the city renamed the park after Allan died in 1901.

The stunning glass-domed Palm House conservatory dates back to 1910 and contains six huge greenhouses. It has been joined by the University’s restored and renovated greenhouses, which are now called the Allan Gardens Children's Conservatory.

Toronto also boasts The Music Garden, conceived by internationally renowned cellist Yo-Yo Ma as an interpretation of Bach’s First Suite for Unaccompanied Cello; and Rouge Park, which is the largest natural and cultural heritage park situated in an urban area in North America.

Toronto is ranked as the number one cycling city in North America, with more than 522 miles of trails, the most notable being the Martin Goodman trail, a 14-mile path along the waterfront.

Now we can start to see why Toronto pulled in over ten million tourists last year. Brits make up the highest proportion of visitors from any one country, all drawn by the outdoorsy opportunities and cultural twist.

Yorkville, the city’s trendiest neighbourhood, is home to the most elegant shopping and dining. The Toronto Eaton Centre in Yorkville is one of North America’s top shopping destinations and Toronto's most popular tourist attraction with over one million visitors flocking in per week.

Greektown on the Danforth has one of the highest concentrations of restaurants per kilometre in the world. The area hosts the annual Taste of Danforth festival, a celebration of Hellenic cuisine and culture, which was modelled on the hugely popular Taste of Chicago festival.

The Distillery District, a pedestrian village, is a more bohemian area of the city and is bursting with boutiques and art galleries.

Toronto is also home to more than fifty ballet and dance companies, including the National Ballet of Canada, the Canadian Opera Company and the Toronto Symphony Orchestra calling the city home.

Property in New Zealand - time to buy

Despite expectations that house prices will continue to fall in the near future, the majority of New Zealanders who took part in a recent survey by kiwi bank ASB are certain that now is a good time to buy…

The ASB housing confidence survey, which charted the three months to the beginning of February this year, found that 53 per cent of people think that now is a good time to be buying a property in New Zealand.

This result was an increase from the 45 per cent of respondents who thought it was the right time to buy in the previous quarter.

Lower interest rates and falling house prices lie behind this ‘time to buy’ mentality, along with the hope that vendors may be more desperate to sell and thus more open to lower offers and bargaining tools.

First time buyers are also flocking back to the market, eager to get onto the first rung of the ladder in a market that was previously closed to them due to sky high prices. Whilst the lack of readily available mortgage finance is curtailing some buyers’ property dreams, the low consumer confidence seems to be starting to rise once more.

However, despite more than half thinking that now is the time to buy, there is little sign of property transactions rising, possibly due to the lack of urgency that buyers feel as they wait for prices to fall lower still.

The housing confidence survey also revealed that more than 60 per cent of people thought that house prices for New Zealand properties would continue to fall.

ASB Chief Economist Nick Tuffley said, “The lower interest rates may have put a floor under turnover and could help some recovery in housing turnover during the year.

“But, we expect house prices to fall for much of this year, though at a slightly more gradual pace than last year,” he added.

Is it really the time to buy?

As New Zealand continues to suffer through the global credit crunch and the international outlook worsens, BNZ Chief Economist Tony Alexander took a brave stance and told the New Zealand Herald that the timing is now ‘perfect’ to buy.

“If you are secure in your job and have enough money saved, now is the time to buy,” he says.

“I wouldn’t be hanging around simply trying to pick the low point in the house-price cycle.

“Property sales have probably almost reached their weakest level, and activity is likely to fluctuate and start moving up before the end of the year.

“House prices will possibly fall another five per cent, but will stabilise by the end of the year, then rise slightly next year,” added Mr Alexander.

Promising Property Investment in Australia

Australia’s central bank, the Reserve Bank, Australia (RBA) has expressed its confidence in the country’s property investment market. RBA Deputy Governor, Ric Battellino, said that house prices will hold up better than many of those around the world, mainly thanks to the quality of loans which underpin the market. Battellino told the Urban Development Institute of Australia, “There are a number of reasons…but perhaps the most important is that we did not have the same deterioration in lending standards that occurred elsewhere.”

There have been fewer loan defaults in the Australian market than in many of the other rich economies and the majority of those who took out housing loans have been able to afford the repayments. Battellino commented that in spite of the slumping economy, the 90-day arrears rate on housing loans is still low at only 0.5% - well under that of countries like the US and Britain.

This has had a positive effect on the Australian house prices which only dropped by 3% in 2008, compared to much larger falls of 20% which have been seen in the UK and US markets. Industry analysts say that along with high lending standards, there have been no sub-prime mortgages in Australia, the defining factor behind the economic problems in the US and Australia also has a shortage of available homes, all of which has helped to keep demand high.

Although fears about the economy and job security have slowed home-buying a little, falling lending rates are keeping interest in property relatively high and the Australian Housing Industry Association reported that new home sales in Australia grew by 3.9% in February 2009, the second consecutive monthly increase.

The RBA cut the interest rate from 7.25% to 3.25% in February. Investors and economists are divided over whether the RBA will cut interest rates further when it meets again in April. Battellino said that cuts already made by the RBA mean that costs involved in paying housing loan repayments are not much more than those involved in renting. James Gonzalez, Market Analyst at Obelisk Investment Property, says that unlike many other developed nations, the Australian banking system has remained healthy enough to withstand a reduction in loan rates, which has eased the debt burden for many households as well as making homes more affordable. “The Australian government is handling the economic crisis better than many rich nations and as a result the housing market is holding its own.”

Buying a Second Home in the Spanish Resort they Got Exactly Right

Even when applying the magic formula of ‘sun + beach + golf’ many holiday resorts come a cropper. Over-built, over-crowded and over-hyped. But not Costa Ballena.

This Andalusian Tourist Board masterminded development at the heart of Spain’s southern coastline constitutes something of a blueprint for holiday resorts of the future. Costa Ballena was founded almost ten years ago on a four million square metre tranche of land between the ancient fishing villages of Chipiona and Rota.

Displaying proud Royal roots the land once belonged to members of the Spanish Royal Family - manzanilla barons Orleans-Borbón - who remained involved in the development throughout. In fact the matriarch of the family, Doña Beatriz de Orleans-Borbón, is current president of the golf club. Today the resort declares itself to be one of the most advanced tourist resorts in Europe and this is largely based on its social and environmental awareness.

Chris Mercer, Director of real estate company Mercers based in nearby Jerez explains, “The planning of Costa Ballena was extremely strict and up to the present day only 25% of the project is occupied by buildings. The rest is given over to open space in the shape of parks, orchards, lakes, beaches and golf courses – of which there are 36 holes in total. Construction is restricted to three storeys, has to be over 300 metres from the shoreline and a revolutionary pneumatic refuse collection system reduces the presence of heavy vehicles and nasty odours throughout the community. Costa Ballena’s architects have managed to blend a respect for the past with a keenness to embrace the future and the result is quite outstanding. We wondered why the foreign investor hadn’t fallen for Costa Ballena before, but it seems that native Spaniards snapped-up the entire development from the plans and kept it their little secret. Only today with resales emerging have other buyers been able to take a slice of the magic.”

Costa Ballena even has a quaint tale behind its name. Back in the days when animals spoke to humans (oh yes they did) a group of sailors returning from a voyage across the seven seas spotted a whale (‘ballena’) off the coast of Cádiz emitting a jet of misty air from its blowhole. The whale explained that he had spent his life searching for a land where the seasons were mild, the sun warm, with golden beaches, clear rivers and rolling fertile plains. Knowing that he’d at last found his idyll the whale decided he was tired and passed away on the sand in the company of a beautiful sunset. Legend told and Costa Ballena named.

At the heart of sherry country, Costa Ballena borders more than 6.5km of unspoilt wedding white beach lapped by clear waters and dotted with lively toe-in-sand chiringuito beach bars.

The resort itself is gated and has every conceivable facility from four star hotels through to Spas and shops through to restaurants. Sporting amenities range from relatively sedentary cycle tracks and swimming pools through to energetic tennis courts, windsurfing schools and horse-riding centres.

Twice Masters winner José Maria Olazabal’s championship golf course is a true highlight of Costa Ballena. Opened in 1995, many of the 27-holes run spectacularly close to the Atlantic and its many water hazards and tricky bunkers provide a real golfing challenge. Meanwhile the 9-hole par three is a perfect complement to the on-site golf school. Stepping outside of Costa Ballena, the traditional towns of Rota, Chipiona, Sanlucar de Barrameda and El Puerto de Santa Maria festooned with monuments, fiestas and gastric delights whilst Jerez (30 mins) Seville (1.5 hours) and Gibraltar (1.5 hours) are all served by low-cost airlines direct from the UK.

Costa Ballena has not remained immune from Spain’s ‘new lower prices’ and can now offer discounts of up to 40% from the peak prices of three years ago. Now is without doubt the best time to buy in Spain’s model holiday resort.

Investors and Businesses in Costa Rica to Benefit from New Tax

The Costa Rican tax administration has introduced a new special accelerated depreciation for all new assets increasing the acceleration of the useful life to 60%from the previous 50%

This measure applies to all new assets purchased from January 2009 to the end of the year.

This move is a part of the Costa Rican Government's plan to promote Commerce, protect the Costa Rican economy from the worst of the global economic downturn and to protect Costa Rican jobs.

This accelerated depreciation will promote investment in Costa Rica as it allows companies a larger deduction against income tax is due. Additionally, those companies who had considered deferring asset purchases because of the current economic climate will benefit financially by proceeding with the purchases in 2009.

Once this resolution is published in “La Gaceta” it will not be necessary for companies to specifically request authorization to use the special accelerated depreciation from the Tax Administration. The only requirement is that the owner proves that the assets were acquired during 2009.

James Cahill, Managing Director of Costa Rica Invest, commented that “the proactive measures introduced by the Costa Rican taxation authorities will help to protect Costa Rica from the worst effects of the current global economic slowdown, and shows the Costa Rican governments continuing support of commerce and investment in Costa Rica.”