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BUYERS' MARKET IN SPAIN


BUYERS' MARKET IN SPAIN

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Which Country Is The Best?

Be wary of Dubai; careful in Eastern Europe... We tell it like it is!

 

Spain. Why it's still the best.

For one: It's a buyers' market right now. It's a good language to learn and it's a country that is easy to get to. More flights; cheaper flights and less than three hours away! Jet2. Ryanair. EasyJet... Spain has come a long way from being a haven for criminals and their ill-gotten gains. Where Ronnie Biggs once had a villa, the country is now recognised as an established, regulated and bona fide country in Europe benefiting greatly from many years of investment by people from all over Europe buying property along the sunny Costas. The health service is excellent, the quality of life is fantastic and of course, the sun is usually shining! A Mediterranean diet has been clinically proven to significantly reduce the risk of dementia, lung disease, certain cancers, respiratory allergies and asthma and the dry air can also benefit those living with rheumatoid arthritis and oseteoporosis.

Before becoming overpriced and overcrowded, the most popular region was Malaga in Costa del Sol. Nowadays, cheaper flights to Costa Blanca have led people further up the coast to discover the beauty of such cities as Alicante and Murcia (restaurant tables spill out onto their streets; fascinating old quarters; mountain backdrops and both with the ubiquitous El Corte Inglés department stores). The health spas were first established by the Romans and golden beaches are dotted all along the coast.

 

Cyprus. Most popular place in Middle East for Brits.

Let’s Live Abroad! advertise property for sale in areas like Ammochosta, Larnaca, Limassol and Paphos. Whilst the Mediterranean island of Cyprus is a member state of the European Union, it is still close enough to Lebanon and Syria to be geographically defined as part of the Middle East.

Cyprus uses the euro and is a stunningly beautiful island that attracts many Brits.

 

TRNC (Northern Cyprus). Cyprus on a budget.

The Turkish north is recognised only by Turkey and has been granted observer member status by the Organisation of the Islamic Conference under the name ‘Turkish Cypriot State’. (It's worth noting that Turkey itself is presently in a state of flux with deep divisions existing between secularists and Islamists). Although native Turkish Cypriots have stood by their right to reclaim land and property lost during the 1974 coup, further conflict is not expected. The Cyprus Land and Building Developers Association have been emphatic that companies should not sell homes in Northern Cyprus since the land the majority of companies are building on belongs, under international law, to Greek Cypriot registered owners who had to flee to the South when Turkey invaded Cyprus. This can be confirmed by checking the Land Registry in Nicosia where the legal titles are still held. Thousands of registered owners have filed applications with The European Court of Human Rights. The leading cases of Loizidou v Turkey and Myra Xenides-Arestis v Turkey underpinned the right of Greek Cypriots to return to their properties and be compensated for loss of use from 1974 to the present day. Any ‘title’ on these properties is illegal and not recognised by the rest of the world. In fact, buyers are committing a criminal offence punishable by five years’ imprisonment and bound to be arrested and prosecuted upon arrival in Cyprus or their home country. In 2006, a Russian national was arrested in the south after buying property in the north.

 

Turkey. Cheap and cheerful.

A huge country bordering eight countries including the Balkan region of south-eastern Europe, Bulgaria, Greece, Georgia, Armenia, Azerbaijan, Iran, Iraq and Syria, Turkey is a bridge between two civilisations that is both torn by division yet richer for its cultural heritage.

The best bargains are here if you have a low budget.

 

Bulgaria. Country on the Black Sea.

With skiing at the winter resort of Bansko, south of the capital, Sofia and summer holidays along the Black Sea coast at Sunny Beach and Golden Sands, its no wonder Bulgaria was such a popular destination for former Communists. Indeed, Russians are enthusiastic property buyers here. There was something of a property rush prior to the country's entry into the EU at the beginning of 2007 and although this has settled down to a more sensible level, Bulgaria is still a country offering property buyers value for money and a low cost of living.


There are now more flights to Bulgaria than there have ever been before as the winter skiing and summers around the Black Sea coastal resorts of Sunny Beach and Golden Sands have become popular.


We are very fortunate to have some superb properties on our books near Sunny Beach. Let’s Live Abroad! has taken its time to build a relationship with the biggest developer on the Black Sea coast; people who are reliable, trustworthy and can work closely with our offices.


We recommend you make arrangements with us to view a new, exclusive five-star development on the seafront at the north part of famous Sunny Beach and within walking distance of the restaurants, bars, casinos and shopping malls. Fort Beach is next to Helena Resort and Victoria Palace hotels and is just ten minutes along the promenade to the new marina. Most of the apartments here enjoy spectacular views over the Black Sea; something of a misnomer since, in summer, the warm water that breaks onto the sandy beaches is, if anything, a stunning azure blue! There are studio apartments, one bedroom apartments, two and three bedroom apartments available.

 

Morocco. Something different in North Africa.

Tangier, Casablanca, Marrakesh… A travel agent might sell Morocco as a dream destination. And so it is! But think very carefully before you buy a home here. Even as a holiday destination, travellers can find the hustlers and pickpockets a constant source of irritation. Property for sale is usually well away from the bustling medina though. Never mind Rio Ferdinand’s much publicised purchase in Le Jardin de Fleur, John Howell, senior partner at The International Law Partnership has been quoted in Overseas Property Professional saying: “Eighty-odd percent of developers in Morocco refuse point-blank to comply with the law that requires they provide bank guarantees. They try to make the contract subject to the law in Bermuda or Barbados or somewhere – it’s all not satisfactory. Nothing works better than an old con trick; and in emerging markets (like Brazil, Bulgaria and Turkey) there are bigger margins, more temptation and it is easier to get away with it.” With so many similarities to the way Bulgaria was marketed - without sounding too disparaging about such a beautiful country - there is a risk Morocco could develop into just a 'flavour of the month'. One agency has been quite public about her concerns: "I have an agent on the ground in Morocco," she says. "He has warned me about a development being widely advertised at the moment. It would appear that there is no building licence in place and the development is on a flood plain." This is all hearsay of course, but just shows, you can't be too careful.

 

 

© Let’s Live Abroad! 2016