2016 Trend
Prime Algarve property sees rise in demand
While Portugal’s national housing market has seen only tentative improvement in recent years, prime Algarve property has shown a marked upturn. In Quinta do Lago, for example, the very best properties have exceeded their pre-crisis peak.
The rise comes as many wealthy individuals find themselves fully invested in first-tier cities, where prices are at a high plateau, and are now looking at second-tier cities and leisure retreats like Quinta do Lago.
Consequently stock levels remained low, which has been a major driver of price growth as demand has returned.
Central to the appeal of the Algarve is its excellent connectivity to the rest of Europe. Annual passengers numbers at Faro airport exceeded six million for the first time in 2014, an increase of 34 per cent of the previous decade.
The airport provides direct links to 80 destinations across Europe, of which 23 are to UK airports. Faro airport is undergoing a €32million expansion and remodelling programme that will result in a 25 per cent increase in peak passenger flow capacity. Therefore, with its low levels of supply and a product tailored to the luxury second home market, we believe prime Algarve is in the perfect position to benefit from strengthening demand in the years to come.
Creative Design
The draw of waterfront homes on the French Riviera
A home on the water is often considered to be the ultimate property purchase. Whether it is a lifestyle choice, holiday home or retirement dream, waterfront property has an eternal appeal. The Victorians introduced sea bathing, widely encouraged for its health benefits.
The French Riviera, or the Côte d’Azur as it is also known, often tops the bucket list of “must-sees”. Nice, Cannes, Saint-Jean-Cap-Ferrat and Saint Tropez are all synonymous with glamour, sunshine and celebrities.
As a globally connected location with unbeatable amenities, prime property in the region has had a long-standing appeal.
Moreover, the Côte d’Azur offers opportunities for all, combined with authentic charm and a special atmosphere. Ranging from beachfront villas with private moorings and beach access, to dramatic waterfront retreats with panoramic views.
The French Riviera, or the Côte d’Azur as it is also known, often tops the bucket list of “must-sees”. Nice, Cannes, Saint-Jean-Cap-Ferrat and Saint Tropez are all synonymous with glamour, sunshine and celebrities, plus the dramatic landscapes beloved by artists and writers, in addition to sporting opportunities aplenty ensure the French Riviera really does have it all.
2016 Trend
Future office buildings: intelligent by design
There are lots of factors to take into consideration when letting your property out and if you’ve never done it before it can be a daunting task. Here are some of the things new landlords need to think about:
You are legally required to inform your lender that you intend to let your property out. Some mortgages contain clauses which won’t allow you to let on your existing mortgage, while others require notification to grant ‘consent to let’. How long do you want to let your property for?
Keep in mind that most corporate tenants want to rent for a minimum of two to three years.
If you are only letting your property out for six to 12 months, you may want to price it more competitively and avoid lengthy void periods. We work with inet3 which specialises in landlord buildings, contents and rent guarantee insurance.
Look at your property objectively as if you were seeing it for the first time. At the very minimum rooms are likely to need to be decluttered and repainted. To achieve a better rent, more works may be required – speak to your agent for advice. Make sure your property is adequately covered if anything goes wrong while your property is let, investigate options and costs for specialist landlord insurance.
Home Decor
10 steps to buying a property off-plan
Buying off-plan is something many people shy away from because they feel it’s a complicated process that is best left for people with a lot of property experience. The truth is it’s really simple and can be a very intelligent investment. Here are 10 steps to purchasing an apartment off-plan.
You won’t be able to get a mortgage offer until about six months before completion, however it depends on which lender you use. A financial advisor will give a good steer as to what can be borrowed and when you should begin the formal application process.
Once you have agreed a price, you will need to pay your reservation deposit which takes the apartment off the market.
You will also need to fill out a reservation form and appoint a solicitor. If you do not have a solicitor, there is often a suggested solicitor who is familiar with the specific process for that development.
When your apartment is ready, you will be sent a completion notice telling you how long you have to complete on your purchase – usually about two weeks. You just need to let your mortgage company know and your solicitor will do the rest. You will be able to collect the keys on the day of completion. After you have exchanged, check with your financial advisor when you should start your formal mortgage application process. It depends on the lender but generally it is around six months prior to completion.
2016 Trend
Five things you didn't know about living in the City
You might think of the City of London as a square mile of iconic towers and slick office blocks. Which of course it is. But there’s a lot more to this tiny city – one of only two London districts with city status – than banking, trade and financial services.
Settled by the Romans in the 1st century AD, the City was heavily populated right up until the 18th century. Today, there are only around 7,500 permanent residents in the Square Mile, but new transport links, the regeneration of several of Smithfield’s market buildings.
The City is criss-crossed with ancient alleys and passageways, each with a story to tell.
For example, on the corner of Giltspur Street and Cock Lane there’s a golden statue of a boy, marking the point at which the Great Fire of London stopped. The Great Fire razed more than 13,000 houses and nearly 90 churches.
Some of the best restaurants in London are to be found in the streets around Barts Square, including The Modern Pantry (St John Street), Club Gascon (West Smithfield), St John (St John Street), Smiths of Smithfield (Charterhouse Street) and Polpo (Cowcross Street).
Great old pubs include Ye Olde Mitre (Ely Place), The Hand & Shears (Cloth Fair) and The Jerusalem Tavern (Britton Street), where William Hogarth and Samuel Johnson were once regulars.
Home Decor
A 'living rent' could solve the housing crisis
It’s a sensible question – while in theory, lenders have to take steps to ensure you can afford to keep up the monthly repayments (as much for their own sake as yours), buyers can still end up saddled with a mortgage they can’t afford.
There are a number of mortgage calculators online, such as the one provided by SPF, which give a good general idea of how much a mortgage will cost per month, taking into account the price of the property, the deposit available, the length of the mortgage and the rate of interest.
Mortgage calculators don’t usually factor in the other costs associated with a mortgage, such as arrangement fees.
While these are mostly one-off costs, they still need to be considered when deciding whether you can afford a mortgage. They will all be tabled in a mortgage illustration document which your lender should provide.
The terms of the mortgage may also affect your decision: are there missed payment fees or early repayment charges? The latter could be significant if, for example, you’re planning to use part of your pension to pay off your mortgage early. And if you’re getting one of the less common types of mortgage, such as an offset, you will need to consider whether you can afford to devote enough of your savings to make it worthwhile.