International Property News

Cyprus woos the wealthy

According to the most recent reports it seems Cyprus, the largest island in the Mediterranean, is really moving upmarket ? and the government believes that ?residential tourism? will provide the best way forward. 12,000 British people, almost 1.5% of the population, already own homes on the island, this is the equivalent number of British homeowners in France.

Work has started on the expansion of Paphos airport, and there are plans to build 1,000 berths at the Coral Bay Marina: with the lack of European births this would really entice the wealthy yachtsman.

Property prices on Cyprus have been rising at about 20% a year since the island joined the European Union in 2004 and entry to the euro in 2007-08 will pre-empt further growth.

Intercontinental expand into Murcia

Spain?s Costa Calida will see the opening of a luxurious InterContinental hotel, situated in Murcia the hotel at Polaris World?s Mar Menor resort is the fist of 3 hotels planned for the region. Set in the heart of the Golf course the hotel will offer a first class contemporary restaurant with terrace and patio area, bars and a themed pub. A tennis court and an ESPA wellness centre with pool will also feature.

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Moscow & Croatia top Knight Frank Index

Knight Frank recently released its Prime international Residential Report of which included its index showing the strongest price growth for 5 bed Villas in 2005 was Moscow and Croatia. Moscow saw prices rises of between 20-25%, even through the bad press Madrid & Mallorca saw good growth at 8%. Florida seemed to have benefited from the good Dollar exchange and saw prime properties increasing by 26%, and overall the US benefited from the increased availability of managed properties with leisure facilities which became increasingly popular in 2005.

According to their research countries including Bulgaria, Croatia, Cyprus, Turkey, Morocco and Thailand will become increasingly popular for investors in 2006. An increase is expected in Chinese & Indian investors purchasing UK property, and in 2005 a third of all London purchases were foreign buyers, enforcing the capital?s position as a ?World city.?

Murcia, Costa del Golf

Murcia is swiftly becoming a favourite amongst the European golfer, music to the ears of the Spanish tourist board. Figures show that in the region of Murcia golfing tourists spend 3 times more in a day than beach & sun tourists. Golfers spend an average 150 euros a day compared with beach tourists who spend 48 euros. To ensure the region continues its vast tourist expansion, the Spanish government is to invest 708 million euros into the Murcia region in 2006. 340 million was made available for improving the water supply in the region & a new Cartagena bypass is to be constructed.

Easy Jet Launches New Routes

Bristol ? Krakow (21st July)

Bristol ? Rijeka (Croatia ? 22nd July)

Bristol ? La Rochelle (21st July)

Bristol ? Toulouse (21st July)

Bristol ? Marseille (22nd July)

London Gatwick ? Split

London Luton ? Bordeaux (29th June)

London Luton ? Rimini (29th June)