Investors Feelilng More at Home in Real Estate

Reading through the many international property publications and blogs, is proving to be a happier experience of late, especially where luxury homes are concerned. Not surprisingly, the more volatile the European money markets appear to be, the greater the interest in solid and trustworthy high-end real estate properties as a long term investment.

Savvy Property Investers Look to the Algarve

In their annual Prime International Residential Index, Knight Frank nominates the best worldwide locations for the savvy investor to buy property that is currently at a low, but that is guaranteed to bounce back. The Algarve, Portugal is topped only by Dubai. Its naturally beauty, reliably sunny climate and its EU membership are some of the points in favor of a sure return to profitable prices.

Testimony

We had to share this magnificent text, a testimony of two people who, on their second vist to Ponta Bicuda, describe the environment and the ongoing works with real enthousiasm:

The second time

We had been here before – a little more than a year ago – to see the moonish landscape of Ponta Bicuda. It was burned into brown, we saw stones, rocks, dust, sand and in between: Some courageous leaves and flowers.
We had seen the trucks and construction machines arrive, and we had felt the dust move ever deeper into our throats and cameras as land-shaping began.
Now in April of 2009, we revisited to see a new landscape: – That of Coladera and Teiju –. Part of Cor de Mar was still in gigantic rocks, but the site for the hotel, the cricket field and the spa-lake all ready for the next steps. Ponta Bicuda is rising from it’s moonish grounds. It is amazing.
Land had been levelled out into shelves wider than those fit for corn growing on the inlands of Cape Verde. The idea is nevertheless the same: this is for human feet to move on.
Like last time we were here, we were treated like queens and kings. Helder Ribeiro is the perfect host for luxury second home clients like us – never nagging, always pleasant.
As we stood there on our future shelf overlooking the horizon in about 270 degrees angle, we felt that this place will be fit for queens – or kings – if you like.
What then about Santiago, the basic host of the Ponta Bicuda insula? What about the people, what about the languages of Creole and Portuguese?
Elder Ribeiro has taken us all around Santiago – an island of diverse landscapes loaded with beauty. After the rainy season (in August and September), the whole Island, like a magic stroke of a green brush, dresses itself in green. We have seen it with green mountain ridges – green out of condensations from the clouds as they climb the mountain slopes, we have seen brownish mountain sides baked by the sun and sheer, green “Shangri Las” at the bottoms of the valleys, where farmers pump water from the ground.
The people of Cape Verde seem proud and pragmatic realising that this archipelago has little to offer when it comes to natural resources apt to export: most of what we consume here is imported. The climate, the sun and some other major resources: the music, the friendliness and not least the pride are, however, worth the world. To better or worse, this is seems also part of the Cape Verdean people’s insights.
A people that can make life possible under such natural challenges has to be proud and must develop a well grounded love for their land. As a visitor willing to take part in public life, that love is readily felt in all encounters, be they conveyed in English (spoken well enough by many) in Portuguese (the official language) or in Creole. Creole is the language Cape Verdeans share among each other. It is Portuguese enough to pay a kind of tribute to history and African enough to make Cape Verdeans to what they really are: Queens and Kings of their beautiful archipelago.
May we all come to live well together as fit for these special kinds of “royalties”.

Esben Esther Pirelli Benestad

Cape Verde Taking Care of Real Estate Growth Demands

Cape Verde plans on remaining the shining example of a developing economy that uses aid wisely to invest in its own sustainable growth. Due to its climate, Cape Verde has always been short on water supply, now with the investment property market and hotel industry growing – Cape Verde has chosen to tackle this issues sooner rather than later. Japan, who has taken an interest is Cape Verde since it’s independence in 1975, will be giving Cape Verde approximately 10M€ specifically to fund the creation of new drinking water production systems in the Islands. In addition, the capital city of Praia is also increasing its water resources by doubling the desalination capacity by year end and by installing a 5.000 cubic water facility in order to bring the total available supply per person per day to 82 litres, which is just above the World Health Organization recommended amount. Legally all real estate developers in Cape Verde are required to provide properties with their own water desalination systems.

Who are Your Neighbours in Portugal

Something you may not know about Portugal is many international jetsetters, sporting heroes and celebrities have already, or are looking to invest in Portuguese properties. Those who have signed the deed include singers Ronan Keating and Cliff Richards, Liverpool and Chelsea football palyers Steven Gerard and Michael Owen, golf gurus Padraig Harrington and Nick Faldo, and most notably Judith Chalmers, because she was the unforgettable presneter of travelling abroad show "Wish You Were Here". Celebreties considering a real estate investment in Portugal include Madona, Cameron Diaz and “Posh and Beck,” all of whom have vacationed in Portugal.

Angola and Portugal, Even Stronger Business Ties

José Eduardo dos Santos, president of Angola, is currently in Portugal on his first official visit to the current Portuguese president Cavaco Silva. Already Portugal's major exporting destination outside of Europe, Angola is now an African nation at peace and experiencing tremendous developments. As Portuguese businesses continue to grow in Angola, and Angolans start to have distinguishing impact on Portuguese economy, the President rallied for even greater cooperation between the two stating that in the current climate countries should turn to their oldest and most trusted friends.

An Investment for your Investment

Make sure you dont just have a second home abroad, but a LUXURY second home abroad - take a look at the must have!

The International Second Home Market

If you have read this blog often enough you will know that we consider places like Cape Verde “the next big thing” in the overseas property markets due to key factors that include a stable and long lasting government, booming economy (fuelled largely the tourism industry) and proper use of international funds allowing for huge structural developments in Cape Verde including health, education etc..

Today I am writing about the flip side of the industry – and the buzz word on everyone’s agenda right now - Russia! WSJ headlines “From Russia with Cash”, the BBC reports that “Russians snap up Australian luxury” and the Business Times Online asserts that “Russians …invest its oil billions abroad”. According to various estimates, assets belonging to Russian citizens in the West amount today to over €300bn and here is why they will keep investing abroad;

1 . Unreasonably high priced properties (expected to drop at some point) make real estate investment at home un-promising
2. Russian stock market is unstable and has in fact dropped significantly
3. Russia has “no reliable (if any) pension plan” so real estate investment abroad is considered for many the safety net.

More Europeans Retire In Portugal

Portugal is one of the most sought after destinations by Europeans, in which to retire, concluded a study ordered by the Aga Khan foundation and conducted by the Portuguese institute for Regional and Urban Development and the Boston Consulting Group.
The study reveals that British and Germans are the Europeans which most seeking Portugal as their home abraod, choosing quite coastal regions such as the Algarve, the Estoril Coast and the island of Madeira.
The study estimates that there are currently 49.000 British retired home owners and 50.000 Germans.

Added Value of Architecture in Real Estate

"…better design has a longer life span, appeals to the market, generates better returns and, of course, there are the issues involving sustainability. But there’s more to it than that - people want to be connected to art" - states renowned architect Daniel Libeskind, one of the most talked about contemporary architects, in an effort to dispel the myth that architecture is limited by the market. Among other projects all over the world Daniel Libeskind is the architect responsible for New York's Ground Zero.

Investing in Cape Verde - Wise Move

CLICK IMAGE TO ENLARGE

Property Frontiers, highly rated international property analysts, hail Santiago, Cape verde as a hot spot for investment "Investing in Santiago is a wise move". On the whole Cape Verde is enthusiastically described as an attractive and growing destination, with stable government and steady financial growth, stressing as another factor of stability the fact that its Escudo is indexed to the Euro. In reference to Santiago specifically, it describes the island as the most cosmopolitan desitination which among other attributes, should provide strong returns as it is anticipated to the focal point of the archipelago's booming tourism industry.

Algarve, Portugal, Homes Abroad

ILM-THR just released their second anual report on the Portugal Residential Tourism Market which monitors second home owners with homes in the Algarve, Portugal. Among the data some of the interesting results revealed included;
Even though the British take up the biggest foreign market-share in terms of number of homes owned, the Scandinavians take the lead on money spent, being responsible for the most expensive buying. The study reveals that two and three bedroom apartments are the most sought after properties, and that central and eastern Algarve are the most popular destination for foreigners.

"The Amazing thing about Cape Verde is that it has not been discovered earlier”

Here are just a few of the statements which can be heard on Jo Sinnott's "Next Big Thing", series aired on U.K. Real Estate TV

· Caribbean style beaches, rich history, laidback lifestyle and vibrant cosmopolitan community
· For those looking to invest, Cape Verde is limitless
· Buying property is straightforward, with a strong legal system which protects property investors
· Quality and sustainability are key for the growth of Cape Verde.

Suggested reading!

I hear the information is clear, consise and contemporary, and that you don´t have to be a professional to understand it. Great real estate investment do's and dont's!

Britons Still Buying Abroad!

A study conducted by the real estate firm Savills and the travel agents Holiday-Rentals.co.uk, suggests that Britons who own property overseas were not questioning their decision to buy a second home abroad, despite steep rises in the cost in airfare to reach those destinations (66%). Furthermore Savills’ director of research points out that the number of British second homeowners buying property in exotic locations is rising. She believes that buying an overseas property, both for leisure and investment purposes, remains a key aspiration for many Britons, who are first and foremost attracted by the prices of property outside the UK.

Around 35,000 properties have been purchased in the past 12 months. 67% of all purchases falling into the leisure, and those buying purely for investment accounting for the remaining .
17% of purchases.

Luxury Real Estate still a Solid Investment

Some interesting numbers from the much talked about Architectural Digest / Sotheby's International Real Estate Survey
· 85% of respondents agreed that “Real estate continues to be one of the better investments a person can make.”
· 72% of respondents believe their primary home value has remained constant or increased in value over the last 12 months (46% remained constant; 26% increased).
· Nearly two-thirds of respondents report that current conditions have “no effect” on their likelihood to sell their primary home (63%).
· In the coming year, 79% believe the value of their primary home will continue to remain constant or increase (55% remain constant; 24% will increase).
· In the next year, more than half (54%) of the million-dollar homeowners plan to buy, sell, build or invest in a new home.
· 69% of million-dollar homeowners agree that now is a good time to add to one’s real estate holdings.
· 71% agree, “Over time, nothing beats real estate for building one’s personal wealth.”
· Half (50%) of respondents think the media exaggerates conditions to make the market seem worse than it is.

Share the wealth!

Up until now this was reportedly the most expensive luxury holiday home in the world. Built from the ground up for a reported £78M in the rugged mountains of Montana, the house includes the ski slopes, with ski lift (of course) and one of its most outstanding features - an outdoor swimming pool with a glass cover that can be removed on warm days.

However, recently the fifteenth wealthiest man in the world, Chelsea football club owner, - Roman Abramovich revealed the plans for his palacial "crib" in London. Spread across two stucco-fronted properties in Lowndes Square in London, the eight-bedroom building is expected to be worth up to £150M making his, the most expensive home away from home

Rental Returns and guarantees - Ponta Bicuda

I’ve had a very interesting evening last night with a friend who works for a European hotel powerhouse. We’ve used our time to discuss developments, returns and rental revenues in two different fronts; the hotel and the residential.
The hotel is simple and straightforward: the income depends on the hotel quality, on the capacity to generate revenues from tourism, business and city travel – the glass is most of the times half full with the sales to professional operators (tourist packages, meetings, symposiums and so on), creaming the milk for the other half with direct sales and more expensive channels.
The residential is a different issue: One can’t guarantee a steady income, as there are no professional structure to half fill the glass. It always depends on the local rental market for permanent residents and on the weekly rental for tourists, and the weekly rental depend on factors like cheap flights availability (on the hotel packages this is not an issue because the flight is part of the package and was previously negotiated for a cheap price), knowledge of the place and management quality.
I am glad we have the five star Tiara hotels on our Ponta Bicuda resort; otherwise it would be impossible to guarantee a steady income. I just don’t comment on the way some do it!

Invest in a Second Home in Brazil

Brazil has in recent times been the word coming out of many an investor’s mouth, and the theme of a few of our own posts of late. Here are a few of the reasons why:

1. Currently Brazil is a Buyers Market: Lots of land for sale with prices which remains reasonably low
2. 100% free hold ownership (in other words full ownership) for foreigners, which in many countries is not the standard
3. Steady Economy and low inflation
4. Falling Interest Rates
5. Increasing Real Estate financing
6. Steadily increasing number of tourists7. Climate, 7,400 km of coastline, a beautiful tropical rainforest.....

Golf is HAPPENING in Cape Verde

Golf in Cape Verde is happening! By the time the Tedju and Cor di Mar Tiara Hotels are ready, the Island of Santiago will have two top quality golf courses, potentially becoming a top quality golf destination.
Golf swings at Ponta Bicuda! A 9 whole Pitch and Putt course has been a part of the project since its inception, and has been a point of attraction for golf lovers everywhere.
Ponta Bicuda pitches in for Golf! Before projects began for Ponta Bicuda, we were already partnering with the Portuguese Golf Federation and involved in competitions such as the Penina and the Open, and in Golf events including, the very successful Golf Fair in Cascais. In 2008 our commitment to golf remains, having sponsored 5 tournaments in Quinta da Ria and Quinta de Cima, in Tavira, Algarve.