Chamber Of Commerce Meeting July 2010
- 1. James Dearsley, European Sales Manager Rob Handley, US Director The Overseas Property Market Hounslow Chamber of Commerce, July 2010
- 2. Agenda General introduction about Atlas International A review of the current property market Information about Spain, Turkey and Italy and a review of certain products Question and Answer session
- 3. About Atlas International Established in 1977 and a group of over 8 companies Family Owned and Private Company Have helped over 75,000 buy property in Europe Operating out of 19 different countries Business built around “Inspection” or “Viewing” trips
- 4. The Current Market? The most positive it has been in 2.5 years In fact we have done more business in the first six months as for the whole of last year There is a very evident move back to “traditional” markets Spain has seen price drops in excess of 30% but sales volumes are on the up and moving quickly Turkey has seen sales volumes up 24% year on year Italy has avoided the price drops and sales volumes are steady Cyprus and Greece had a recent sharp reduction of prices (approximately 30% in Oct/Nov 2009) and recovering now
- 5. Spain Lifestyle orientated facts 320 days of sunshine a year Golf, skiing, water sports Excellent infrastructure Fantastically low cost of living WHO designated the area of the Costa Blanca as the healthiest in the World! Regular flights in and out of the country A real mixture of cultures 48 Blue flag beaches Buying orientated facts We have 67 properties available under £100,000! We have over 500 different properties ranging from £44,000 up to over £1 Million We have over 200 Resale properties We deal with over 250km of coastline from Denia down to Mazarron 70% mortgages are readily available Additional costs equate to 10-12% depending on whether you take a mortgage
- 6. Turkey Lifestyle orientated facts Over 320 days of sunshine a year Coastline is a mixture of fabulous beaches and tiny private coves Friendly and helpful locals Paradise for boat owners Low cost of living 3.5hrs from London flying time 192 beaches that carry the Blue Flag award Exquisite food Buying orientated facts We sell over 500 properties ranging from £28,000 to £650,000 Additional costs are approximately 6-8% Annual costs include a wealth tax set at 0.5% of the property per year (£250 on a £50k property for example) We cover property over 600km of coastline from Antalya to Kusadasi No Capital Gains tax after 5yrs Only New properties but could source resale if required
- 7. Italy Lifestyle orientated facts Year round Mediterranean climate Turquoise waters, sand, and snow! Low cost of living Advanced infrastructure Friendly, family oriented people Amazing food and wine Fashion and culture Healthy living in Mediterranean paradise You can be skiing within 1.5hrs Voted the 5 th Best Place to retire to by the Sunday Times (18 th July 2010) Buying orientated facts Over 10 developments available with over 150 properties Prices range from £45,000 to £550,000 but can go higher if needed Additional costs are approximately 13-16% depending on whether you take a mortgage New and Resale properties offered No capital gains tax after 5 years No inheritance tax Overseas buyers have a straightforward purchase
- 8. Inspection trips The best and safest way to buy a property overseas We try to use people that have bought through us as your guides Four day trips are preferred and we pay all costs while you are on the trip Special offer for the Hounslow Chamber of Commerce
- 9. So, what will it be?!
Editor's Notes
- #3: This presentation is about trying to give you key notes that you will need if you are speaking to people on the phone or at an exhibition Hopefully there will be enough Sound bites in here that you can take away with you for future use!
- #4: I will just give a general overview of company to include: Over 30 years Family Run company and general overview of family involvment Helped over 75,000 buy property Operating out of 19 countries with a website translated into 17 different languages Run Inspection trips (what are they) and USP is that invariably run by people who have actually bought in that country Go into the initial operation and how it started to expand rapidly into other countries
- #5: Points to note – General Market There has been a shift in interest – mainly back to Spain now from Turkey of 2009. Expected to maintain this shift due to currency and also price drops. Shown in Recent figures from Rightmove where 60% of all searches are from France and Spain (also interestingly 42% of all respondents are for permanent moves and only 12% are for investment purposes) – too much focus was on the “investment element” rather than the lifestyle focus. Spain reduction really about 30% but Housing Ministry has stated only 11% Ministry of Housing have said that house sales transactions have increased 7.7% against same time last year and 16% more than last quarter 2009 Turkey Figures from Thomas Cook and flights have increased rapidly in 2010 flying to both Bodrum and Antalya Italy Recently quoted to be one of the winners in 2010 due to the market stability Market dropped by a minimal 1-3% during 2009 and a growth of a similar amount is expected in 2010 Cyprus is one of the few countries that quotes its figures correctly and has shown to have an 84% drop in sales to non Cypriots between 2007 and 2009. Mainly the UK market affected as 70% of all property purchases were by the Brits. Seems to be recovering now.
- #9: Special Mentions Going direct is not advised especially in this current market You get to see all important processes involved in your purchase i.e. lawyers Special offer is only open to members of the Chamber of Commerce and they have to quote “Hounslow Chamber” to book the offer – Have to book the trip by the end of August but you can always call me personally if need be.