http://www.worldpropertyshop.com/ News RSS feed http://www.worldpropertyshop.com/images/aquavista_rss.jpg http://www.worldpropertyshop.com/news.php?nID=236 Important news for people who sold property in Spain between March 2004 and December 2006. Although Aquavista does not currently sell property in Spain, many of our clients have previously owned property in Spain and we feel it important to get this news to them: From the Sunday Times - 13/4/08: THOUSANDS of Britons who profited by selling property in Spain between March 2004 and December 2006 could be owed a 20% tax rebate from the Spanish government. Refunds could total more than £50m, according to a Spanish lawyer, and translate to about £11,000 for each claimant. The European Commission has ruled that Spain contravened European Union legislation by charging foreign non-residents a higher rate than Spanish nationals. Those who sold a home before changes to the rules last year were charged the Spanish nonresidents’ tax rate of 35% on any capital gains instead of the Spanish flat rate of 15%. About 4,500 British people, plus thousands more in other European countries, can now try to reclaim the difference, plus interest, from the Spanish authorities. Emilio Alvarez of the firm Costa, Alvarez, Manglano & Associates, is helping them to reclaim their money. He has already helped around 70 UK customers file a claim, he said. The currency specialist HiFX said at a conservative estimate, Britons are each due £8,300 in overpaid capital gains tax. Add to that interest of around 6% from when the tax was paid and those who made gains on Spanish property could be owed almost £11,000. “A change in the law at the start of 2007, which saw the standard capital gains tax for non-residents being brought in line, passed by largely unnoticed,” said Alvarez. “This tax trap is thought to have affected hundreds of thousands across Europe and in the UK. Although a final judgment on payouts could take years, Alvarez said those affected need to put in a claim now to avoid falling outside the four-year registration period. For more information, go to www.spanishtaxreclaim.co.uk or telephone 0845 6803849. 18 Apr 2008 http://www.worldpropertyshop.com/news.php?nID=235 Turkey were delighted to receive this prestigious award at the beginning of the year from IAGTO in association with Hertz in Cancun Mexico to mark the recognition of their outstanding golf courses in Belek. See the IAGTO website www.iagto.com IAGTO is the global trade organisation for the golf tourism industry and these IAGTO Awards serve to award a few exceptional contributions to the golf industry. The Awards also serve to encourage private and public sector organisations to work closely together in the development of new and existing gold destinations. On receiving the Gold Destination of the Year for Europe, Ali Sahin, Director of Golf at the Cornelia Golf Club and IAGTO Turkey Chapter Chairman said "We are very proud and happy to win this award. The award means we have acheieved something because we have worked very hard over the last 10 years. We started off with just one course in Turkey and we now have fourteen. Over the next two or three years there will be about 30 courses throughout Turkey" The golf courses in Turkey are stunning. The greens are beautifully kept and are all designed by leading European golfers, Nick Faldo being one of them. Aside from the actual courses the Club houses are majestic and luxurious and cater to your every whim. The Turkish pride themselves on their hospitality and this can be found in abundance at all their golf courses. The green fees are reasonable and with the wonderful weather golf can be enjoyed all the year round. Property prices are still sensible in Belek, the prime golfing location with twelve golf courses, and here you will find beautiful beaches and wonderful restaurants and hospitality and being only twenty minutes from the airport at Antalya makes it an ideal destination for golf and leisure. 03 Apr 2008 http://www.worldpropertyshop.com/news.php?nID=234 After several years of requests for separate flights to and from Turkey, Flythomascook.com and Easyjet are offering single flights. This will have a huge impact on people wanting to go and view properties but not take a week away. Easyjet have one way flights from March through to October to Dalaman and Flythomascook.com are offering Izmir, Bodrum, Dalaman and Antalya from April through November. Effectively this means you could start your travels flying into Izmir and cover the whole of the coastal towns and fly home from Antalya! The Turkish property market offers excellent value for money within some stunning areas. Turkey is a beautiful country with a very exciting culture and some of the most beautiful scenery in the world. This together with a sound infrastructure i.e. transport, good roads, sound health care, international restaurants, excellent shopping and a strong tourist economy helping the rental market and mortgage availability it becomes a good investment. Indeed it has been placed third in the breakdown of where people most want to buy rising from eighth position last year according to a well-known industry magazine. We have an extensive range of properties from all areas. From Cesme, a very sophisticated resort near to Izmir, all the way along the coast to Belek with its 12 immaculate and reasonably priced golf courses. Please give us a call to chat through your requirements and request a tailor-made portfolio. 19 Mar 2008 http://www.worldpropertyshop.com/news.php?nID=232 The mortgage market has moved rapidly in the past year, with 8 Turkish Banks now offering mortgages to overseas property buyers. At Aquavista we provide mortgage products via a specialist broker who it best suited to offer best deals and lead you through the entire process. There are currently 2 types of mortgage products available: MORTGAGE PRODUCT A: Up to 100% Loan to Value (LTV) * completed property Up to 100% LTV * Equity release & Re Mortgage available Off-plan for available for approved projects with stage payments (LTV varies per project) Security of loan taken on Turkish property Currency: Euro Repayment only 1 year fixed 6.9%; 3 year fixed 7.2%; 5 year Fixed 7.5% Term: Minimum 5 years; Maximum of 20 years Minimum EUR25,000; No Maximum Self Employed & Retirees Accepted 24-70 years of age ( must be repaid before 75 years of age) Eligible to private individuals resident in the UK and Northern Ireland, Holland, Germany, Belgium (also foreigners living in Turkey) Applications can be submitted up to 4 months prior to property completion Natural Disaster insurance & Building insurances are compulsory Life Insurance NOT mandatory Bank will carry out valuation, upfront fee of EUR400 Notes: Must have clean credit file (Experian or Equifax) Bank arrangement fee can be included in loan if required (2% or EUR1,250 minimum) Early repayment: 10% per year without penalty. Otherwise; difference in the interest rate when new rates are lower * 100% LTV is based on Execution Value Fees: Client needs to budget anywhere from GBP1500 to GBP1900 approximately for all mortgage related fees (Banks, Brokerage & valuations, etc. Fees will be fully itemised in clients Mortgage outline document) Also note client should budget for OFFICIAL CHARGES. Other costs will be the commissions clients will be paying to the estate agent (ranging from 1% to 3%), fees for lawyers (again approximately around 1%) & some other small charges for the local services. ID & Financials Required: Standard required documents (Others may be needed by underwriting) * Copy valid ID (drivers license excluded) * Past two years P60 statements * Employers reference letter * Two months most recent salary slips * Pension award letter (for retired individuals) * Two months most recent bank statements (all pages) * If renting, 12 months cancelled rent checks * Mortgage payment statement and life insurance payment * Fully executed divorce decree (if applicable) * UK Credit report * Copy of the "Tapu" (Registration of ownership at the Office of Land Registry) * Copy of the "Iskan ruhsati" aka "Yapi Kullanma Izin Belgesi" (Certificate of Permission for Building Using) * Copy of the Purchase Agreement Self Employed applicants (Others may be needed by underwriting) * Copy valid ID (drivers license excluded) * Three years signed personal tax returns * Last three years corporate returns as well as a year-to-date profit and loss statement and balance sheet * Two months most recent bank statements (all pages) * If renting, 12 months canceled rent checks * Mortgage payment statement and life insurance payment * Fully executed divorce decree (if applicable) * UK Credit report * Copy of the "Tapu" (Registration of ownership at the Office of Land Registry) * Copy of the "Iskan ruhsati" aka "Yapi Kullanma Izin Belgesi" (Certificate of Permission for Building Using) * Copy of the Purchase Agreement MORTGAGE PRODUCT B: Max 75% Loan to Value; Currently 8% standard variable (buy to let will be 8.5%) Term of loan is up to 15 years; **Completed projects & off plan projects 6 months from completion Security of loan taken on Turkish property UK & Northern Ireland citizens; No min or max loan value; Age from 18 years old can apply, no max age limit Note: GBP475 early repayment costs if paid fully within the first three years (nothing afterwards). ** This bank as yet is not in the position to offer off-plan mortgages, however they are prepared to assist us by giving a Formal Letter of Approval (subject to successful valuation and underwriting) that will last for 6 months (extended after 180 days, whereby military approval, completion of property, Life insurance will need to be met to extend the loan to the six months. During this period, either the Banks off-plan product will become available (which is their plan) or that the client’s project will be completed within 6 months time frame, and the extended formal loan letter of offer will suffice. Fees: Client needs to budget anywhere from GBP1500 to GBP1900 approximately for all mortgage related fees (Banks, Brokerage & valuations, etc. Fees will be fully itemized in clients Mortgage outline document) Also note client should budget for OFFICIAL CHARGES. Other costs will be the commissions clients will be paying to the estate agent (ranging from 1% to 3%), fees for lawyers (again approximately around 1%) & some other small charges for the local services. Great features of this product explained: The advantages of this particular lender is that they will 1) be doing initial processing of applications via a UK office 2) with English speaking staff 3) no minimum loan or maximum loan values 4) Any UK resident over 18 is eligible 5) penalty fees are minimal for early exit 6) one of the five top banks in Turkey 7) Clients with properties still being constructed, and have a completion date within 6 months can now be eligible to receive a mortgage, & security of loan taken over Turkish property ID & Financials Required: is as follows; 1)Proof of ID Valid Passport(s) or UK Driving license(s). If copies are provided these must be certified by an authorised person (your lawyer, or local official, or your bank) 2)Proof of Address(es) utility bills (except mobile phone bills), dated in the last 3 months 3)Proof of income Last 3 months’ pay slips, or other official form of documentation (where possible), and latest P60. If self – employed a copy of the latest tax return, & last 3 years’ audited accounts with a letter from your accountant confirming the profit figures 4) Bank Statements Dated within the last 3 months,& including details of the applicant(s) 22 Feb 2008 http://www.worldpropertyshop.com/news.php?nID=231 *Update* Aquavista and Austria in Daily Mail 22nd February 2008 and the Daily Telegraph on the 9th January. The basis of the Daily Telegraph article was regarding buying property in Austria and heavily featuring Aquavista. The essence of the article was highlighting that prices in other ski resorts, which have been hotly tipped over the past few years, have risen such that Austria now appears very inexpensive, even in comparison with much small resorts resorts in places like Bulgaria. With demand growing at a very steady rate, prices in Austria are also rising. The Daily Mail article was of a similar nature with the undervalue and growing interest in property in Austria being highlighted. Again Aquavista was highlighted as the leading property agency in Austria with the greatest selection of properties available, both new-build and resale. The article featured 3 of our properties, although by the time the article went to press we had indeed sold 2 of the properties. Austria is just one and half hours from the UK and the number of flights by low cost airlines has doubled in the past 3 years. Austria offers some of the best skiing in Europe, all year round attractions, low crime rates and is very keen on protecting its environment. 21 Feb 2008 http://www.worldpropertyshop.com/news.php?nID=228 10 essential holiday letting tips and advice in the best practices to maximise holiday property lettings. Advertising 1. Maximise the properties key selling points Every holiday home rental has its very own key selling points and these are most likely the very things that drew you to purchase the property in the first place Open fires, wonderful views, easy access, idyllic locations and good local nightlife are all examples of good selling points. Use these to paint a picture for your guests of how their holiday at your property could be. 2. A picture speaks a thousand words You have a great opportunity to really sell your holiday rentals by taking some great photos of the property. Make sure that you use a good digital camera, take the pictures in good light and make sure that your holiday home looks at its best and use them to capture your prospective customer’s imaginations. When adding images to your advert ensure they are of the highest quality and use as many images that the advert will allow 3. Reply to your customers promptly Replying promptly to emails and answer phone messages is essential. Take your time in getting back to your customers and you could very well lose out on a booking. The prospective customer is probably weary of letting a home directly and psychologically they will gain an initial assessment of the entire booking process from the initial response 4. Special offers We all love a bargain. Why not offer your customers last minute offers or low season reduced bargain rates to try and fill those gaps in your availability calendar? You will be surprised at how many people respond to such as offer. 5. Maximise your audience The more sites you can afford to add your property to the better. Different sites work better for different locations; however this regularly changes for each site. Before starting to market your property choose a budget, normally a percentage of your rental income, and then choose as many paid-for sites as possible within this budget. In addition add your site to as many free-listing sites as you can find the time for. Generally paid-for sites provide a far higher response than free sites as a large proportion of your fee is spent marketing the site and thus your property. The general format of the adverts are similar to each site so once you have advertised on one site the rest should be pretty quick. 6. Referrals are the cheapest form of advertising If you make the whole experience of renting a property from you as hassle free as possible, it will go a long way to getting repeat business and referrals. Make sure you communicate with your customers all the time from their initial contact through to their return and provide important paperwork such as receipts promptly. One very important aspect of generating more rentals is to stay in touch with your previous guests, so keep a log of all the e-mail addresses and several time a year send a newsletter to your existing customers highlighting any offers and special events During clients stay 7. Keep guest book for your visitors Keep a guest book in your holiday property to encourage your guests to give you feedback as to how impressed they were with your property and their holiday in general. This is an excellent way to find out the things that you are doing correctly and also the things that you may need to improve on. You can then quote from this book on your advert to show prospective clients what your previous customers thought of your property 8. People notice the little things It is amazing, but talk to someone who has just been on holiday and they are more than likely to comment on the chocolate on the pillow rather than the quality of the bedding itself! How about some fresh flowers, welcome pack including milk, butter, bread, jam, coffee, tea or even a bottle of local wine to greet your guests on arrival? Its these first impressions that can make all the difference. 9. Local information leaflets and guides If possible you should leave your contact information, local phone numbers such as police and hospital and some leaflets with information of local activities and events. Often owners have a folder which they arrange all this information into and is always looked through by customers 10. Entertainment DVD´s, videos, books, video games and board games are just a few items that you can have in your holiday rental to ensure your guests enjoy their stay. Recommendations of excellent restaurants, bars and even clubs with directions would also be appreciated by your guests To advertise your property to let - please visit www.worldrentalshop.com 04 Dec 2007 http://www.worldpropertyshop.com/news.php?nID=227 The Salzburgerland region in Austria has received heavy snowfalls throughout the week, with some resorts already opening for the ski season. The snow fall levels are the highest in Europe and marks a promising start to the ski season. With the buying process in Austria taking 4-6 weeks there is still time to purchase a property before the festive season and maximise the use & rental income of the property throughout the 16 week ski season. Aquavista has an extensive portfolio of properties throughout Austria, including property in Salzburgerland (Lungau, Pongau and Pinzgau), Carinthia and the Tyrol regions. All these locations offer extensive skiing opportunities. 16 Nov 2007 http://www.worldpropertyshop.com/news.php?nID=226 It was announced last week by Tepe Akfen Airport Holding that it had won a 25 year lease to operate the small Gazipasa Airport in Alanya on Turkeys Mediterranean Coast. TAV which manage the international airports of Istanbul, Izmir and Ankara have already started construction to incorporate necessary runway changes in order to increase airport capacity to 3 million passengers annually. The new Alanya-Gazipasa International airport is widely expected to have a huge impact on tourism and the real estate sector throughout the Antalya province both from a residential and commercial perspective attracting not only Europeans in search of a holiday destination but also Turks from Istanbul and Ankara seeking a city weekend getaway. 23 Oct 2007 http://www.worldpropertyshop.com/news.php?nID=225 Starting in October, easyJet will fly to Funchal, Madeira, from London Stanstead and Bristol. Daily flights will operate from Stanstead with flights leaving Bristol three times a week. 17 Sep 2007 http://www.worldpropertyshop.com/news.php?nID=224 Aquavista is a long standing member of FOPDAC - the Federation of Overseas Property Developers, Agents and Consultants. Membership of FOPDAC is voluntary and by being a member of FOPDAC, Aquavista must follow a strict guideline in marketing properties for sale. In recent years the guidelines have been adjusted to mirror those of NAEA - the National Association of Estate Agents. Following the merger of FOPDAC and NAEA, Aquavista's membership of FOPDAC will nowbe under the NAEA International Division Incorporating FOPDAC 29 Aug 2007