REAL
TIME NEWS
Keeping
you in touch with buying, selling, renting and developing, and industry
up-dates
HOLIDAYS -
RETIREMENT OR INVESTMENT?
BUYERS BEWARE!
The prospects for a Spanish
holiday or retirement home are still good but don't be tempted to buy
as a rent-on or sell-on investment.
Cheapness is no longer the name of the game. Property prices have boomed
on mainland Spain as in the UK, particularly at the popular resorts.
Now with interest rates on the increase and with a glut of rental properties,
plus competition coming from the middle and Far East. siren voices that
tell you how easy it is to cover your mortgage by renting out or making
a profitable re-sale could be luring you onto the rocks.
Look away from where most holiday-makers congregate, further inland you
will find pleasant villas and smaller homes at prices that are still good
value and affordable so long as you plan to live there for your own comfort
and not for profit.
HOLIDAYS AT HOME
(IN
THE UK)
STILL OUTWEIGHED
BY THE
OVERSEAS-BOUND
According to a recent survey this year some 20% of Brits say they intend to visit Devon, Cornwall or Scotland but 25% are still flying away to France and even more to Spain. Now that our 'long hot summer' has been drowned out by wind and rain, perhaps the figures will change next year!
Ote
SEMINAR
JUNE
2004
DELEGATES HEAR THE FACTS
(The Organisation
for Timeshare in Europe) members were briefed on how their organisation
is helping international authorities to combat Timeshare fraud.
Legitimate firms do not deserve to suffer from being tarred with the same
brush as unscrupulous fraudsters and it was noted that complaints to Ote
were very rarely about member companies.
It was also noted that the Timeshare market has consistently averaged
an annual 14% growth since 1985 which means there must be many satisfied
buyers.
A study of U.S. owners revealed that they are usually in their late 40s,
85% are married, the family income is nearly twice the average, almost
half of them classify themselves as professional or managerial and 21%
are retired. A good time of life to own a Timeshare?
An alternative source of finance for developers to offer to their clients
could prove helpful to prospective purchasers seeking loans, which are
then paid through trustees. Worth asking your Ote developer for details
if you are looking around for a one to ten year loan. We will report on
the forthcoming UK July seminar -and for those who are not yet members
but would be interested in the major forum, to be held in Athens in October,
details are coming soon.
For advice on legal, financial and tax issues you must consult a lawyer or tax advisor.
A ONE-STOP FOR DEVELOPERS, HOTEL AND RESORT OWNERS.
LEISURE SOLUTIONS can draw upon the expertise of established and experienced associates in administration, construction and many of the disciplines that concern you. Any queries? E-mail yours now to jenniet@leisuresolutions.net