Buyers flocking to coastal markets

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COASTAL property markets have taken off with new figures revealing a surge in auctions and sales numbers.

Auction activity on the Gold Coast was booming, according to the latest CoreLogic RP Data Quarterly Auction Market Review, with more homes going under the hammer there than in any other non-capital city market in the country.

At the same time the Sunshine Coast was revealed as the top region in Queensland for property sales with predictions it will lead to future price growth.

The latest Hotspotting Price Predictor report found the Sunshine Coast had more suburbs than any other region in the state where sales numbers were rising steadily.

 

Read more on Weekly Times Now

16 Overseas Properties Ideal for Tennis

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To celebrate the end of Wimbledon 2017 we’re bringing you a selection of homes with tennis courts in the sun, along with a further ten prime properties.

So if tennis is your thing then check out a property in Estepona, Spain – this three-bed townhouse has a tennis court on-site, is only 500m from the beach and has stunning mountain and garden views. It is also close to all the amenities you need so you can stock up on strawberries and cream!

 

Read more on A Place In The Sun

16 Overseas Properties Ideal for Tennis

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To celebrate the end of Wimbledon 2017 we’re bringing you a selection of homes with tennis courts in the sun, along with a further ten prime properties.

So if tennis is your thing then check out a property in Estepona, Spain – this three-bed townhouse has a tennis court on-site, is only 500m from the beach and has stunning mountain and garden views. It is also close to all the amenities you need so you can stock up on strawberries and cream!

Or maybe you’re looking for a property in Turkey? If so, take a look at property five in Antalya which is situated on the Oasis Club II complex. As well as tennis courts, this villa has access to basketball and volleyball courts so you should never be short of a thing to do if you’re looking to keep active.

Read more on A Place In The Sun

Pricing a Property Based on Comps is Still the Rule—Unless It’s Incomparable

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When pricing a residential single-family listing, most agents’ first step is to look at the recent sales of comparable properties in the same neighborhood; about the same size; on a similar piece of land; and with similar features, like views, amenities and updates.

This process of evaluating comps is especially important when the buyer is likely to need financing, experts say, because an appraiser is going to perform the same exercise to justify the loan.

But when an agent is considering how to price a luxury property—specifically one that’s truly in a class of its own, and likely worth more than anything else out there— they become much less important. Or as Adam Rosenfeld, a founding partner at Los Angeles-based luxury brokerage Mercer Vine put it: “Comps are always relevant until a property becomes incomparable.”

Read more on Mansion Global

SA property investors find value in 25 countries

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The South African listed-property sector has seen a dramatic shift offshore with about 46% of its value in overseas markets, including eastern and western Europe.

South African property stocks’ offshore exposure has more or less doubled since 2014 as investors have diversified their risk and sought better growth opportunities.

The South African listed-property sector is now worth about R500bn and is exposed to 25 countries, most recently Spain, according to Keillen Ndlovu, head of listed-property funds at Stanlib.

 

Read more on Business Live

How to inspect an off-plan property overseas

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Q: My off-plan property in Malaga is due to be completed in the next few months, and I will be inspecting the property soon. What should I look out for, and what are my rights if I find any defects? J Harrison, by email

A: Before making the final payment to a developer or builder — usually the remaining 70% at this stage — you need to ensure your home is finished to the required specification. When the builder contacts you to arrange an inspection, commission a chartered surveyor’s report to UK standards, which starts at about €400 (£350).

 

Read more on The Times

 

5 Lifestyle Factors When Buying Your Overseas Property

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When choosing a place to buy abroad it’s not just about how cheap the property is. Of course, this is a pretty big driver for most buyers, but along with accessibility, lifestyle factors also come into play. So how do you choose between your favourite countries? Here we look at five of the key considerations for buyers…

1) Climate and seasonality

There are many people who would stay in the UK if it offered more sunshine! Just waking up each morning knowing there is going to be sun is one of the most highly prized factors frequently flagged by buyers abroad because it allows an outdoor lifestyle and also has tangible health benefits. But think about local conditions carefully – will it be too hot in the summer holidays when you need to go there – or play golf? Bear in mind that in many southern European countries it can reach 40 degrees in peak summer. Likewise, what are the winters like? Are they mild or surprisingly bitter? Even on an island, conditions vary from one side to the other.

 

Read more on A Place In The Sun

Tips From Our Overseas Property Buyers: Part 3

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Welcome to the latest instalment of our 13-part series, Tips From Our Overseas Property Buyers, where we catch up with homeowners from all over the world who share their experiences exclusively with A Place in the Sun. Next up we have Nancy and Russel Davidson from Edinburgh, who decided to purchase a villa in Vilamoura, Portugal.

Algarve veterans Nancy and Russell Davidson, from Edinburgh, were deterred from buying the first apartment they wanted because the vendor didn’t want a lawyer involved. So, they moved on and bought somewhere equally nice, with legal representation. Nancy [above] tells us why.

“We got the keys to our one-bedroom apartment in Vilamoura in February this year, although it isn’t the place we’d set out to buy. We’ve been coming to the Algarve for family holidays for 20-odd years, usually renting the same apartment owned by a local Portuguese man. When we decided to buy our own place at the start of 2016, we made an offer for that apartment, which was accepted.

 

Read more on A Place In The Sun

Selling a property overseas: tips for online marketing

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Q We’ve decided to put our Portuguese home on the market and are considering listing it online, bypassing agents and their fees. Any words of advice?
M Formby, by email

A Although there are costs for using a “for sale by owner” property forum — such as magnoliaproperty.co.uk (from £15 a month), rightmove.co.uk (£29-£99 a month) and the-viewing.com (from £588 flat fee) — there is no commission to pay.

However you decide to market your home, though, you still need to decide on the asking price, and make sure you have all the documentation required in Portugal in order, including relevant deeds, registration and tax certificates. Resolve any legal issues with the property, such as illegal extensions or inheritances that have not been finalised.

Read more on The Times 

Britons are spending 50% less on European property since the Brexit vote

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LONDON — The weak pound caused by the Brexit vote has caused Britons to slash the amount they spend on European property by more than half, according to research from payment card firm Fexco.

The data indicates that Britons spent 52% less in sterling terms on Eurozone property in the first three months of 2017 compared with the same period last year.

The analysis, of more than 500 Eurozone transactions made by UK customers through Fexco’s payment platforms, shows that new property purchases have shrunk, with the majority of funds still being sent to the Eurozone destined for ongoing commitments such as mortgage payments, maintenance or management fees.

The lowest point was in January 2017, when transaction values slipped to 78% their January 2016 level. February transaction levels were 42% lower than those made in February 2016, while March saw some recovery, with transaction values jumping by a quarter on February’s figure.

 

read the full article on Business Insider