Living in Spain? Olives are a real Christmas cracker

For many people who buy a property around the Mediterranean, it often means a change in diet. One of the best things that many people include are olives and some of the best come from Spain. Why not start the New Year as you mean to go on with the healthy snack, olives?

Since ancient times, sun-ripened Spanish olives and their oil have been highly valued for their medicinal benefits. Traditionally cured Spanish olives are low in calories, high in antioxidants, minerals and healthy fat and are a great source of fibre, so whether you eat them straight from the bowl or combine them with your evening meal for a deliciously subtle Mediterranean flavour, you can be assured that they are doing you good.

Spanish olive dips

Low in calories

Twenty five grammes of olives contain just 37 kcal, almost four times as little as the 140 kcal contained in 25g of crisps. Olives promote good health because they contain a high amount of antioxidants and minerals such as polyphenols, calcium and magnesium.

Different Spanish olives contain different nutritional qualities. For example, black olives contain less salt and more iron, yet fewer calories than green olives; Manzanilla olives contain more salt and vitamin E; and Hojiblanca olives boast more fibre. All them offer the following:

•         Monounsaturated fats – Spanish olives are fruits of the tree known as Olea europaea. Olea is the Latin word for oil, reflecting the olives very high fat content. However, 75% of this is oleic acid, a healthy omega-9 monounsaturated fatty acid that has been shown to lower blood cholesterol levels and increase HDL (good) cholesterol.

Research has also shown that it is the type of fat consumed that determines the risk of developing conditions such as atherosclerosis (a condition where which an artery wall thickens as the result of a build-up of fatty materials such as cholesterol), colon cancer, arthritis and asthma.

Residents in regions around the Mediterranean consume large amounts of olives and olive oil and have a lower risk of developing those conditions.

Health benefits

•         Fibre – with 100 grams containing 2.6 grams of fibre, Spanish olives are high in fibre and so are easily digested. Spanish olives are also a good source of calcium, iron, magnesium, phosphorus and iodine.

•         Anti-inflammatory properties – Spanish olives contain a variety of beneficial active phytonutrient compounds (plant compounds which are thought to have health-protecting qualities) including polyphenols and flavonoids, known for their anti-inflammatory properties. Polyphenols also give the olive its taste and aroma.

•        Protection against cell damage – it is the combination of a number of nutrients in Spanish olives that work in synergy to provide great health benefits. Olives are a good source of monounsaturated fats, rich in vitamin E – a fat-soluble antioxidant that neutralizes damaging free radicals, and also contain polyphenols and flavonoids, which have anti-inflammatory properties.

These health-boosting compounds that work hand-in-hand to provide a protective an anti-inflammatory effect on cells that can lower the risk of cell damage and inflammation which in turn helps to:

1. Reduce the severity of asthma, osteoarthritis, and rheumatoid

arthritis – three conditions where most of the damage is caused by high

levels of free radicals

2. Prevent heart disease

3. Prevent colon cancer – by neutralizing free radicals, the nutrients in olives help prevent colon cancer. A higher intake of both vitamin E and the monounsaturated fats in olives is also associated with lower rates of colon cancer.

•         Menopause – clinical studies have shown the effect Vitamin E has on reducing hot flushes.

•         Alzheimer’s Disease – a recent study showed people with low level of HDL (high density lipids) or bad cholesterol were 53% more likely to have memory loss as compared to those with high level of HDL (high density lipids) or good cholesterol. As olives have high levels of oleic acid which helps increase good cholesterol, an olive rich diet may also help prevent Dementia and Alzheimer’s Disease.

Grape news

Las Uvas (the 12 grapes of luck) is a Spanish tradition that started, according to legend, in the early years of the 20^th century. It takes place in the last 12 seconds of the old year and although the tradition has spread to some Latin American countries, it’s most popular in Spain and is certainly something that very few Spaniards would miss.

As the clock starts to strike midnight, you should eat one grape per second. This is harder than it sounds but according to tradition, if you succeed, this guarantees good luck in the coming year. Don’t be taken in by earlier chimes – wait for the full 12 to start

If you are living in Spain, the striking of the clock on the tower in the Puerta del Sol in Madrid are broadcast nationwide on radio and television. Whether you’ll actually have great good luck in the coming year is hard to say, but whole families join in the fun and it’s certainly worth trying whether you live in Spain or not.

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.

The latest Chesterton Humberts CEBR Poll of Polls of UK house prices

November marked the sixth month of consecutive house price growth, with the average property price increasing by 0.5% from October 2009, according to the latest Poll of Polls, down slightly from the 0.7% rise of last month.

Six of the eight major house price indices showed monthly increases for the most recent month of data. The other two indices measure asking prices, suggesting falling prices earlier in the sales process, with agents becoming more realistic with valuations.

House prices in London also rose by 0.5% over the month to November, however the annual change in house prices turned positive, increasing to 1.8%. The average property price in the capital is now £5,513 higher than in November 2008, the largest increase in value over the year of any country or region in the UK.

Property prices

The trend of top value properties rising more rapidly in value than low value properties continues, with the price of the top 20% of properties by value increasing by 1.3% between October and November. Property prices of the bottom fifth rose by only 0.2% over the same period.

Property prices increased in the five most expensive local authorities, all in London, while prices decreased in the five least expensive local authorities. Camden, due to high value but low transaction numbers, has posted a 22.3% gain which should be smoothed over coming months.

Robert Bartlett, Chesterton Humberts CEO, comments: “It remains to be seen whether the house price increase momentum in London will continue following the announcement of the bank payroll tax in the Pre-Budget report. Lower bonuses could dampen demand for top-end housing in the capital.

Robert Bartlett, CEO, Chesterton Humberts. "The average house price in England and Wales is now £172,639, bringing the annual decline to just -0.4%. It now seems certain that the year-on-year change in house prices across England and Wales will turn positive next month."

“In October we highlighted that the agency-induced asking price increase was not sustainable as it had been created by inexperienced agents desperate for instructions giving unrealistic quotes to prospective sellers. It now looks as though the frenzy is abating and more realism appearing in valuations which should lead to a more stable market.

“The forthcoming election is likely to slow the market as both buyers and sellers move to the sidelines to await developments but overall, the outlook is generally more positive. We expect an increase in stock which will give rise to a steadier rate of increase in house prices as the wider economy improves.”

Pace of growth slowing

Douglas McWilliams, Chief Executive of CEBR, comments:

“While the pace of the most recent monthly house price increases has fallen back of late, the rate of change in house prices was always expected to ease after the bounce experienced over the summer and autumn months. Even though the pace of growth is slowing, average house prices have still increased by an impressive five per cent since the bottom of the market in April, surpassing virtually everyone’s expectations at the start of 2009.

“We still expect house prices to continue to grow in the New Year – albeit at a slower rate – as lending conditions continue to ease, base rates remain at historic lows and growth in demand continues to outpace supply. These supply shortages will persist into the medium term due to the minimal level of new housebuilding seen over the past eighteen months.

For more information, go online at http://www.chestertonhumberts.com

The Chesterton Humberts’ Poll of Polls brings together the leading house price indices to capture a unique look at properties for sale and that have been sold, in effect creating a medium value for house price polls. This report has been produced by Chesterton Humberts and the centre for economics and business research (CEBR).

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.

Major boost for Irish investors as French leaseback property becomes pensionable for the first time

For the first time, Irish investors can place French leaseback properties into their pensions, whether small self-administered schemes, PRSAs (personal retirement savings accounts), Approved Retirement Funds, or company, executive and personal pension plans.

Pre-financed VAT

This significant new development brings considerable tax advantages to an already secure, long-term retirement planning product. For many Irish investors, it will be a welcome alternative to volatile stockmarket investments and increasingly expensive annuities.
Crucially, any income generated from French leaseback is tax-free while capital gains tax is not payable in Ireland (or France after 15 years). This is in addition to the already attractive tax benefits of French leaseback, such as a pre-financed VAT rebate of up to 19.6% and, in certain cases, French Government subsidies.
This ground-breaking investment opportunity for Irish investors has been jointly implemented by Dublin-based Pierre & Vacances Property Investments and the Independent Trustee Company one of Ireland’s largest pension trustee companies.

In France, leaseback properties have been open to pension investors since the 1960s but differences in the law made it difficult for Irish pensions to invest in them. However, ITC and Pierre & Vacances Property Investments have managed to overcome this issue and can now open this rapidly growing market to Irish pensions as well.
Stockmarket-listed Pierre & Vacances is France’s leading development and tourism company with over seven million clients and an annual turnover of €1.5bn. Its conservative business model, operating in the historically stable French property market, offers a safe source of long-term guaranteed rental income.

Investors may even choose to part-finance their leaseback property, which could be a cottage in the latest Center Parcs development, an apartment in Paris or a chalet in the Alpine ski resort of Avoriaz. Mortgage finance is available from a number of French banks. Where bank borrowing is provided, rent can be taken tax-free for the majority of the investment term.

Due to the stable cash flow of the model, the loan is paid back by Normal Retirement Age, at which point the rental income becomes the investor’s retirement income through the ARF regime. In effect, the rental income services the loan pre-retirement and the investor post-retirement.

Different options

Crucially, the price paid by the investor for this income is only a fraction of what a comparable annuity purchase would cost. Should the investor need a lump sum, the property may, of course, be sold. Pierre & Vacances Property Investments is currently offering leaseback properties across France for prices ranging from €100k to €1m and with guaranteed rental income up to 4.5% index-linked, net of all charges and running costs. There are different options to suit different budgets and investment needs:

• Purchase the entire property using pension funds
• Joint purchase, buying with another person’s pension fund
• Putting in the minimum amount from your pension fund and financing the rest with a French mortgage available comp rates

Clients need to have a financial adviser and to transfer their existing pension to ITC in order to take advantage of this opportunity.

Niamh Erbek, Business Manager (Ireland), P&V Property Investments, comments: “Interest in investing in French leaseback property to secure income for retirement has grown exponentially in the current risk-averse climate. Guaranteed rental income for the duration of the lease is very appealing at present, especially when it can be used to meet or offset any mortgage payments.

“The fact that there are no management or maintenance hassles and no running or insurance costs offers additional peace of mind. Many investors are between a rock and a hard place right now and have significant capital sums tied up in poorly performing pensions that default into expensive annuity products. They are desperate for secure investment products that generate solid income streams and P&V leaseback properties are exactly that.”

Tommy Nielsen, Director, Independent Trustee Company, adds: “P&V leaseback property becoming pensionable is a highly significant development for Irish investors. A secure, long-term investment vehicle that already has favourable tax incentives has now been bolstered by the tax-free structure of the pension.

“Low risk, highly tax-efficient investment products like this that come with the certainty of a long-term guaranteed rental income are proving very attractive to a growing number of investors, especially given the volatility of equity markets over the past two years and decreasing annuity rates. Leaseback experienced a setback a few years ago when unsustainably high rental returns brought a management company down. But to us P&V are the epitome of stability and offer absolute certainty of rental income.”
Robert Forman, founder and QFA, Dublin-based wealth adviser, Dominium Wealth Creation, concludes:
“Our clients are looking for security with a decent chance of capital gain. 27-year leases, the reassurance that you are dealing with a solid PLC and competitive guaranteed rents combine to make P&V leaseback properties very attractive at this time for retirement planning purposes. The response from clients has been phenomenal. It is the right product at the right time with the timeless qualities of security and value.”

• the advantages for Irish investors buying French sale and leaseback properties through Pierre & Vacances are:
• an immediate, pre-financed VAT rebate of up to 19.6%
• guaranteed, inflation-protected rental income up to 4.5% net of all charges and running costs
• free of French income tax
• free of French CGT after 15 years
• returns guaranteed by Pierre & Vacances, a French development and tourism company listed on the SBF 120 (French equivalent of the FTSE 100); P&V has annual turnover of 1.5 billion and accommodates 6.5 million customers per year through its network of 45,000 apartments and houses
• option for discounted holiday stays in approximately 200 resorts

For more information, go on-line at:

http://www.pierreetvacances-immobilier.com/btoc/home.php/lg/uk and http://www.independent-trustee.com

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.

Property and some UK Pre-Budget Report (PBR) highlights

These are a few highlights of today’s statement made by Chancellor Alistair Darling:

• Borrowing has been estimated to be £176 billion in 2010 and £140 billion in 2011
• A new ‘broadband tax’ of 50p per month is being introduced. Anyone owning a landline phone will be paying the new charge to help fund the nationwide installation of ‘superfast’ broadband to 70% of the population.
• While pensions will go up by 2.5% next April, the previous item (superfast broadband) will help to wipe out this benefit given that most people of pensionable age have a landline phone
• National insurance contributions are going up. From April 2011, all rates of NI (employee, employer and self-employed) will go up by an extra 0.5%. That’s on top of the 0.5% from the PBR of last year
• VAT will go back to 17.5% from January 2010
• 2012 will see the capping of contributions by the government to public service pensions for teachers, NHS, local government and civil service. According to the Chancellor, this will save around £1billion a year
• Banker’s bonuses: There will be temporary levy of 50 per cent on any individual discretionary bonus paid above £25,000. Alistair Darling said the banks, rather than the bankers, would pay the levy. This temporary measure comes into effect immediately and will cover bonuses paid between now and April 2010.
• The Stamp Duty holiday will end on 1 January 2010

Given that the property industry helps to drive the economy, this brief round-up of four property professionals’ comments on the Pre-Budget Report might help to clarify the effect of the end of the Stamp Duty holiday:

Charles McDowell

Charles McDowell, the prime London property consultant, buying and selling properties over £5mn in Kensington, Chelsea, Belgravia and Knightsbridge, said:

“This lame duck budget is basically political posturing prior to election.  The current Government’s war on the City does nothing but diminish tax revenues and highlights the continuing value of property as an important asset class, particularly if inflation begins to rise. The old adage ‘safe as houses’ will be more relevant than ever in 2010.”

Immediately following Alistair Darling’s pre-Budget Report, Peter Bolton King, chief executive of the National Association of Estate Agents, said:

Peter Bolton King

“The Chancellor missed an open goal with his statement. By ignoring the advice of much of the property industry there is a real danger that the property slump that has hit thousands of families hard over the past 12 months will hit thousands more, harder, in the year ahead.
“Stamp duty unfairly distorts the property market. It is prohibitive to people looking for a step up the housing market and unfairly penalises people investing in buy-to-let portfolios.

“As a first step the Chancellor should keep the stamp duty threshold as it is when the current holiday ends in December. More importantly, the Government should commit to a complete reform of the tax to produce something that is fairer for everyone.”

John Phillips, Financial Services Director of Kinleigh Folkard & Hayward, stated:

John Phillips

“Whilst the return to a 17.5% VAT level from January 1st will push more money into Government coffers, it is not likely to help house buyers looking to access a mortgage.  People will have less money free to put towards saving for a deposit, and combined with a continued difficulty in obtaining lending, will not really help those looking to purchase property in 2010.

“The extension of the Mortgage Interest Relief Scheme by six months will be of little benefit to the housing industry.  Whilst it will provide much-needed security for those who own homes and who may be struggling financially, it is less likely to give an incentive to people in such circumstances who may have been considering selling their property. This will add to an already existent shortage of stock on the sales market.”

David Adams, Chesterton Humberts’ head of residential comments:
“The Government has produced a ‘steady as she goes’ pre-Budget report with eyes firmly on the horizon. This completely belies the reality that we are dead in the water and listing badly.

The large number of bankers who’ve been considering abandoning ship may now be persuaded that it is time to move off-shore and we could see a large number of country houses come to market out of season.

“The continuing record level of taxation on property transactions will go on depressing sales across the country. The London market will increasingly diverge from the rest of the country as foreign buyers continue to take advantage of the low pound to buy into prime central London property.

“What is bemusing is that we are selling properties of high tax payers and replacing them with foreign owners who aren’t paying any tax. Who will pick up the tab?”

David can be found on Twitter

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.

Avoid travel nightmares this Christmas with advice from www.aph.com

Winter's arrived...

It doesn’t matter where you’re going, what the season is, whether there’ll be snow and skis or sand and sea, there are certain basic rules it’s worth heeding. Along with the early skiers, many sunshine-starved families who opted for a UK ‘raincation’ during the summer will be heading for more reliable climates this Christmas break.

As a result, UK airports promise to be busy despite the economic woes. Airport Parking and Hotels (APH), the long-stay airport parking expert is offering travellers a selection of top tips to make sure they have a fuss-free, festive break.

The family-friendly top tips include the following:

• Check that your passports are still valid – for some countries it must be valid for six months after the date of travel, and remember, children’s passports do not last 10 years like adults.

• Make sure you have travel insurance and if travelling in the EU then obtain and take your European Health Insurance Card (EHIC).

• Make copies of important documents and take one copy and leave one copy with a close friend or relative, or subscribe to and load them onto the ‘APH Online Safe’ in case bags get stolen or lost.

• Shop around for the best rates on foreign currency or purchase a pre-paid currency card – don’t wait until you get to the airport to buy your currency.

• Heading for the sun at this time of year means you may be travelling to more exotic destinations so check which inoculations are necessary for that country.

• Pack a foreign plug adapter.

• Charge iPod and camera batteries the night before departing

• Check that suitcase weight and dimensions conform to your airline’s rules.

• Check-in online, 24 hours before flying to avoid check-in fees at the airport.

• Print out flight e-tickets.

• Reserve seats on the plane.

• Cancel the milk and papers and make sure your central heating is on the ‘frost protection’ setting.

• If you have a very early start, consider an airport hotel the night before. This year Hotel and Parking packages are even better value and offer great peace of mind.

• If not, set a back up alarm clock to make sure you wake up for early departures.

• Make sure your car is prepared for the journey to the airport – for example, check tyres, battery and screen washer fluid.

• Double check the booking if you have arranged a taxi to take you to the airport and be sure you have a contact number if they fail to show up at the agreed time.
  

  The Mediterranean is beautiful at any time of year - but don't forget to copy your travel documents

APH offers parking at all major UK airports, ports and Eurotunnel terminals plus airport hotels packaged with parking, airport lounges, travel insurance, car hire and holiday taxis. APH is also a carbon-balanced company and has, through the World Land Trust, helped purchase more than 1,000 acres of Belize rainforest.

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.

French properties

A new résidence de tourisme at Val Cenis in the Haute-Maurienne

French ski property developer MGM plans to build a new résidence de tourisme at Val Cenis in the Haute-Maurienne, close to the Italian border, has named the scheme Le Chalet de Flambeau in memory of a legendary local canine postman.

The dog – a German Shepherd – ensured the arrival of the mail between the town of Lanslebourg (now part of Val Cenis) and Fort Sollières, perched high on Mont Froid, during the 1930s. Every day for ten years, summer and winter, at the same time of day, Flambeau – ‘The Torch’ – could be relied upon for the safe delivery of the military postbags.

MGM’s proposed new four-star residence will comprise 197 one-, two- and three-bedroom apartments with floor areas ranging from 35 sq m to 75 sq m. Those in the first phase will be ready for occupation before the end of 2011.

The new MGM ski résidence de tourisme, Val Cenis

Located close to the ski lift – giving access to around 125 km of pistes – Le Chalet de Flambeau’s position in the sunny valley of the River Arc is expected to make it a destination for year-round holidays. Hiking, horseriding, climbing, paragliding and fishing are among the numerous outdoor activities on offer locally.

As in most MGM residences, facilities will include an indoor pool with a glazed roof, fitness suite, gym, sauna, Jacuzzi and steam rooms, as well as a beauty centre with a variety of massages and treatments on offer.

Biggest ski resort

Richard Deans, sales consultant in the company’s London-based UK sales office, says that the site in Val Cenis provides MGM with the opportunity to offer a new generation of ‘affordable-range’ ski properties in the biggest ski resort in the Haute-Maurienne.

Located between two national parks – the Vanoise and Italy’s Gran Paradiso which together create Europe’s largest wilderness area of almost 500 square miles (1,250 square kilometres) – Val Cenis is described by Richard as: “charming, unspoilt and, in some ways, a bit of a time-warp.”

All of MGM’s new leaseback homes are fully furnished and decorated. They have pine internal finishes with tiled and parquet floors. In keeping with MGM’s policy of using local natural materials wherever possible, the buildings are clad externally in timber and stone. Each home comes with cellar storage, a ski locker and underground parking.

Although not yet announced, off-plan prices at Le Chalet de Flambeau are expected to start at around €150,000 for a one-bedroom apartment, excluding VAT at 19.6 per cent which is waived under the leaseback scheme.

For full details of the properties available from MGM call 020 7494 0706 or visit the website www.mgm-constructeur.com

A spacious, six-bedroom house with land and a pool near Gaillac (Tarn)

This large country house has been renovated with traditional materials. The property is surrounded by one hectare of land. With six bedrooms (three of them en suite) the house is large enough to house a big family and friends. All this is set in beautiful surroundings just a few kilometres outside Gaillac.

Situated just a few kilometres from Gaillac, surrounded by vines and fields, the property is typical of this lovely region. L-shaped at the rear to form of a courtyard, this gives access to various parts of the house. The careful use of stone, wood and terra cotta tiles makes the property worthy of being in a smart property magazine. There is an attractive exterior metal and wood staircase.

Major improvements that have transformed the property include two new septic tanks, rewiring of the electrics, double-glazing and renewal of most of the roof and an architect’s advice was sought throughout. There is a lounge on one side of the house with the kitchen, then another lounge or dining room, plus another large room measuring 27 m2, followed by a bedroom with its own washroom.

Surrounded by vines and fields, the property is typical of this lovely region

There is plenty of scope for the new owner’s creativity, for the interior staircase is only temporary, one of the lounges needs to be decorated, as do two children’s bedrooms. The house also comes with a cellar, laundry and covered car area.

Price: €660,000

For further information call 0845 123 5885 or go on-line at www.my-french-house.com

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.

Homes in Turkey

The property market along the Turkish coast has certainly cooled since the heady pre-credit crunch days when excitement about EU entry, rocketing property values and new Turkish mortgages fuelled an unprecedented rush of British buyers to take the plunge into what was enthusiastically promoted by overseas estate agents as the ‘next big thing’.

But crisis or no financial crisis, Turkey’s pleasant Mediterranean climate, unspoilt scenery and low cost of living – factors which have attracted over 74,000 foreign property buyers, including more than 22,000 Britons – look set to begin drawing British property buyers in ever increasing numbers again in 2010.

Turkey has managed to weather the global slow-down fairly well. Due to strict regulations, the country’s banking sector has been spared the direct effects of the credit crunch and despite a major slowdown, the Turkish economy looks set to move out of recession next year.

Being outside the Eurozone, Turkish property represents excellent value for money, particularly as prices in most of the large resorts have dropped significantly since their peak in 2007.

A villa at Akkaya Gardens

Increase in market activity

“In what is now a buyer’s market, there are certainly some bargains to be found, although purchasers should still be looking for high-quality property, which will offer the best investment long-term,” says Dominic Whiting, editor of the Buying in Turkey guide, www.buyingin.co.uk. “Looking forward, there is much to be optimistic about and I expect a steady increase in market activity from spring 2010 as the tourist season starts, and global economic conditions and consumer confidence in the UK improve.”

The Turkish tourist industry has experienced remarkable growth over the past few years, particularly when compared with other Mediterranean destinations such as Spain. The country received more than 24 million international tourists in 2009 with year-on-year figures up despite the economic gloom. A record 2.1 million British tourists visited in the first nine months of the year, making Turkey one of the top holiday destinations for Britons. Official forecasts are upbeat, with tourist arrivals expected to top 30 million in 2010 according to Ertugrul Gunay, the Turkish Culture and Tourism minister.

Investment is still being channelled into the development of the coastal areas, albeit at a slower pace, as part of government plans for Turkey to become one of the world’s top five tourist destinations by 2023. On the ground, this means new airports, roads, golf courses, marinas and hotels, which will widen the country’s appeal for property buyers, as well as tourists. The 600-berth Didim Marina, completed by Dogus Holdings in May 2009, is a good example, with new marinas opening in Cesme and Dalaman in the next few years.

Improving air access from the UK will be another important factor promoting the Turkish property market in 2010. Defying global economic turbulence, low-cost Turkish carrier Pegasus Airlines reported a doubling of passengers in 2009, with 17 flights from the UK to Turkey next year, including new direct services from London to Bodrum and Dalaman; Manchester to Antalya and Dalaman, and Birmingham to Antalya and Bodrum. Easyjet will be continuing its recently launched flights to Dalaman and Bodrum from London and Manchester next year. While Jet2.com has announced low cost seat-only flights to Dalaman from the airline’s new base at East Midlands Airport and Thomas Cook has added weekly flights from Exeter to Dalaman to its existing services.

Area focus

Dalaman

Dalaman is an area to watch in 2010 as it has avoided the over-development of the larger Turkish resorts. It has some wonderful scenery, great beaches and lots of activities, like white-water rafting, hot springs, yachting and walking, which give it a broad appeal. The Dalaman Hilton Golf & Spa Resort, with its 18-hole course, is opening in the summer.

Easyjet (www.easyjet.com) and Pegasus ( www.flypgs.com ) fly into Dalaman’s large international airport from Gatwick and Manchester; with Flyglobespan (www.flyglobespan.com) operating weekly flights from Aberdeen, Edinburgh and Glasgow.

Curbanoglu, (0845 355 5625, www.curbanoglu.co.uk) have apartments from £61,200 and villas and luxury bungalows with private pools from £136,000 in the beautiful rural area of Akkaya, which overlooks a lake and unspoilt mountains just 15 minutes from Dalaman town and the international airport. The unspoilt valley is being turned into an exclusive residential and holiday community with communal facilities including a stream-side restaurant and bar, indoor and outdoor pools, fitness centre, sauna, tennis courts – all spread over 100,000 acres of beautiful woodland and meadows.

Lakestone Villas

For more information about Turkish property or to view a selection of some of the best Turkish property contact Buying in Turkey, Tel: 0845 351 3551, www.buyingin.co.uk

Buying in Turkey

Buying in Turkey is the UK’s leading independent guide to buying and owning property in Turkey. First published in 2005, the 140-page guide has helped hundreds of people purchase villas, holiday apartments, investment properties and retirement homes in Turkey. Available for free download from www.buyingin.co.uk

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.