31. January 2011 13:40
Celebrities have long craved the easygoing lifestyle and friendly atmosphere of Italy. In an interview with UK newspaper the Independent recently, British comedy legend Richard Herring said of the country, "I keep going back to Italy. I love the lifestyle, the people, the history and the countryside. You feel it's the sort of place you'd like to be old in." Hollywood star George Clooney has become Italy's unofficial ambassador and a quasi-resident since purchasing his villa by the edge of Lake Como in the country's north, where he famously spends every summer. And now renowned heart-throb Johnny Depp has joined the ranks of celebrity Italophiles, purchasing a palazzo on Venice's Grand Canal for a reported 10 million euros.
According to l... [More]
28. January 2011 11:54
Louise Reynolds of UK-based property investment firm Property Venture had some interesting things to say yesterday when it came to potential market investment for 2011. Namely, whether those looking to invest in real estate in the coming year should go with established markets the PIGS (Portugal, Italy, Greece and Spain) or emerging markets the BRICs (Brazil, Russia, India and China). Obviously, investment in the traditional European summer vacation hot spots (ie the PIGS) has been a favourite with property buyers over the years. But with oversaturation of the market and continuing financial woes for the Eurozone, is there anything left in these markets for 2011?
Experts have predicted a modest 1.3% economic growth across Europe ... [More]
27. January 2011 11:49
The UN World Tourist Organisation's latest figures should hearten all those who have a vested interest in, or are considering buying into, the European property market. Despite sizeable gains by the US and China over the years, the key European destinations, most notably Spain and France, still maintain a dominant position in the tourist market despite taking a beating financially in the GFC, not to mention the natural disaster dramas that have befallen the Eurozone over the last 12 months. And as any property market watcher will know, where the tourist industry leads, the housing market soon will follow.
The advance release of the WTO's International Tourism Barometer last week heralded good things for the European region, and promised ... [More]
26. January 2011 12:31
Don't be fooled by current media throwaway terms like "housing bubble" and "real estate slump" - the truth is, European property is still the most reliable long-term investment for your savings or retirement fund. A recent survey by the Association of British Insurers further underlined this fact - asked which investment they would consider the safest and most promising, property came out on top amongst the 2608 working-age respondents surveyed from all over Great Britain. Beating out shares, savings accounts and national savings products among other options, the survey proved property is still most people's go-to strategy when it comes to safe investing. ABI's Acting Director of Life and Savings, Helen White, agreed. "Despite a... [More]
25. January 2011 12:14
So you've found the European property of your dreams, whether you're retiring to a tranquil life by the Spanish seaside, buying a swish new condo in the Algarve for your summer vacations or making that dream to start your own vineyard in France a reality. Unfortunately, the inspections, offer and acceptance are just the beginning of the process, especially if you're purchasing in a country that is not your own, where you're unfamiliar with the currency value and legal restrictions. Luckily, Eurobrix can help.
First and foremost, you need legal advice. Each country has its own unique set of property laws and loopholes that, if you're purchasing from overseas, can be difficult to navigate at the best of times, particularly if there's... [More]
24. January 2011 12:05
Despite the general downturn in the housing market, commercial property is one area that's holding steady in the major markets, including the US, where commercial values have picked up 30% since the '09 trough, and Europe, where 38.5 billion euros of investment occurred in the month of December 2010 alone. It holds to reason that commercial real estate, especially offices, are continuing to sell even in austere times - while consumers might be able to make do with their existing residential arrangements, and therefore hold back from buying a new house until their financial situation gets better, businesses, on the other hand, always need a place to house staff and receive clients. The corporate world is all about status, and with work pla... [More]
21. January 2011 11:57
In these austere times, the constant maintenance costs of owning a second home, or indeed a property at all, may seem like a drag. But there are clever ways to offset these expenses. If you are a European property owner, or considering buying but are unsure about committing to the extra bills that a vacation home can accrue, you may want to check out these clever money-earning devices to make the most of your property in the off-season.
Rent out your parking space
You can earn an average of £30 a week from an empty garage or driveway, according to Anthony Eskinazi, founder of parkatmyhouse.com. "If you live near a major sporting or music venue, a busy airport or train centre, or in a city centre, you could earn ... [More]
20. January 2011 12:05
50 years ago, almost every middle-class professional in Europe dreamed of owning their own house on a spacious plot of land. But it seems the concept of a house of one's own may be going the way of typewriters, record players and film cameras, with more European buyers than ever before opting for apartment living over a freehold home. Apartments hold many benefits over houses in terms of ease of manageability, maintenance costs, potential for social interaction and cost-effectiveness. With an increasing amount of the population working longer hours, and not settling down to long-term partnership until a later age, the home is no longer playing as much of a vital role in day-to-day life, meaning buyers are seeking a smaller, less expe... [More]
19. January 2011 14:01
While some European markets may be stagnating as a result of the financial crisis, others are only just emerging, having recently joined the eurozone. Take Cyprus, for example - according to a recent survey by the Department of Land and Surveys, property sales in the EU's newest member state have increased 5% year-on-year, with increases by as much as 14% in the capital of Nicosia and 10% in the beachside metropolis of Limassol. The opening up of markets in the picturesque island nation by its joining the EU and adopting the euro currency in 2008 have meant it is becoming an increasingly popular and convenient destination for tourism and property investment.
Same goes for Turkey, which, despite ongoing issues preventing it from actually ... [More]
17. January 2011 15:01
For the more sun sensitive among us, retiring to the beaches of southern Europe to acquire a leather handbag-like tan may not be so appealing. But who hasn't had the fantasy of escaping to the romance and beauty of the French countryside, to their own castle in the Alps or the wine country? Luckily, with Eurobrix's range of alluring European castles for sale, so you can grab your perfect holiday or retirement retreat, minus the sunburn and sand in uncomfortable places. Given the historically low rates for home finance in France at the moment, and taking into account the still recovering European market, meaning prices are still relatively low, it could be the perfect time to invest in the castle of your dreams.
If you're a wine lover (an... [More]