Feltrim International http://www.feltriminternational.com Just another WordPress site Mon, 22 Oct 2012 16:12:04 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://www.feltriminternational.com/1912 http://www.feltriminternational.com/1912#comments Fri, 10 Aug 2012 13:57:27 +0000 admin http://www.feltriminternational.com/?p=1912
S Michael – Singapore]]> http://www.feltriminternational.com/1912/feed 0 Number of Cape Verde Hotel Units Up Almost 10% Year-On-Year http://www.feltriminternational.com/number-cape-verde-hotel-units-10-year-on-year http://www.feltriminternational.com/number-cape-verde-hotel-units-10-year-on-year#comments Thu, 12 Apr 2012 13:52:16 +0000 admin http://www.feltriminternational.com/?p=1666 Sal Rei Villa SMBR Cape Verde www feltriminternational com Number of Cape Verde Hotel Units Up Almost 10% Year On Year
Number of Cape Verde Hotel Units Up Almost 10% Year-On-Year

Official figures released in March from the Cape Verdean National Statistics Institute (INE) show that the number of hotel units across the archipelago rose by a mighty 9.6% year-on-year, from 178 hotels in 2010 to 195 in 2011. Even more interesting is the fact the hotels are getting larger to cater to demand with the number of rooms rising a huge 34.1% for the same period.

Apartment SMBR Cape Verde www feltriminternational com Number of Cape Verde Hotel Units Up Almost 10% Year On YearAdam Cornwell, Managing Director of Feltrim International promoting real estate on the Islands, comments, “Cape Verde is one of the fastest growing tourist markets in the world and inevitably the hotel industry is responding. These 17 new hotel establishments added 7,900 rooms and 14,000 beds to 2010 figures, yet there’s still plenty of room for growth as tourist arrivals continue to increase by around 20% per annum. It is projected that Cape Verde will reach half a million tourists annually by 2015 and one million by 2020 as northern Europeans wake-up to the potential of this mid-haul winter sun destination.”

This news comes hot on the heels of a positive report from holiday rentals website HomeAway. Not only did Cape Verde enter the top ten holiday destinations for the first time, but it ranked an impressive fifth most popular destination for booking enquiries between October and December 2011. The website said it was a hot mid-haul market emerging as a strong winter sun rival to the Canaries and highlighted the increase in hotels, charter flights and package holidays over the last few years. Skyscanner also ranked Cape Verde highly, in third place, on its list of emerging destinations in 2011.

With additional hotel units of course comes additional employment opportunities in Cape Verde and the same report stated that employment within this sector increased by a welcome 27.6% from 2010 to 2011. Geographically, the Islands of Sal and Boa Vista boast the greatest number of hotel units, 44.7% and 31.1% of the total respectively – a number of them now of five star rating to cater to the demand from discerning guests after the ultimate in luxury. Boa Vista in particular is working hard to maintain its ‘five star status’, emphasizing quality over quantity, and keeps a tight control over build density to protect the environment and promote sustainability for investors and locals and avoid over-saturation.

Joining the five star fraternity is the Santa Mónica Beach Resort & Spa on the Island of Boa Vista. With many of the 1,140 units available for sale on a freehold basis, the Resort combines a five star hotel with luxury one and two bedroom apartments and two to five bedroom villas each with private pool.

Vista Villa SMBR Cape Verde www feltriminternational com Number of Cape Verde Hotel Units Up Almost 10% Year On YearAs an indication of its excellence, some serious heavyweights have put their name to the project including Wyndham, the largest hotel operator in the world, to handle guest services and rental management alongside ESPA, a global award-winning Spa operator, to provide blissfully relaxing treatments and products.

Santa Mónica Beach Resort & Spa will have a range of gourmet seafood, oriental and fine dining restaurants, childcare services and on-site coaching at the tennis complex alongside mountain biking, big game fishing, diving, windsurfing, sailing and 4×4 safaris in the local vicinity. A championship standard golf course is planned for alongside the Resort. Meanwhile the beach at Santa Mónica is well known as one of the world’s key turtle nesting sites as well as being a breeding ground for humpback whales and home to many native and migrating bird species.

Hotel occupancy, according to the Government, is currently 90% and there is no low season due to average daily temperatures consistently hovering between 21ºC and 30ºC which is warmer and more reliable than even the Canary Islands – excellent news for strong rental yields. Boa Vista’s International Airport takes direct 5.5 hour flights from Glasgow, Gatwick and Manchester and flights from Bristol and Stansted are to be added giving UK visitors greater flexibility. Direct flights to Cape Verde are also in place from Lisbon, Madrid, Milan, Frankfurt, Brussels, Boston and beyond which again helps boost rental yields.

For a limited time early investor discounts of 30% for cash buyers mean prices start from just 83,300 euros for a one bedroom apartment and 325,500 euros for a detached three bedroom villa. Finance options of up to 90% are available making ownership of a one bedroom apartment achievable from just an 11,900 euro deposit. There are also rental and leaseback plans offering up to 7% fixed income with allowances for personal use. Santa Mónica Beach Resort & Spa also qualifies for SSAS and SIPP purchase via fully managed hotel suites from 85,000 euros (official valuation 162,000 euros) with ten-year guaranteed 7% rental income. Licenses and planning permission have been granted and construction is underway on site with phase one scheduled for completion mid 2013. Santa Mónica Beach Resort & Spa offers a unique chance to purchase top-quality property in a prime location – while prices remain low.

Please click HERE for further details of the Santa Monica Beach Resort
]]> http://www.feltriminternational.com/number-cape-verde-hotel-units-10-year-on-year/feed 0 Florida Foreclosures http://www.feltriminternational.com/florida-foreclosures http://www.feltriminternational.com/florida-foreclosures#comments Thu, 12 Apr 2012 13:37:32 +0000 admin http://www.feltriminternational.com/?p=1656
Full Steam Ahead for Florida Foreclosures

Florida has been a tricky State for foreclosures. Not only does it form part of a group of US States where foreclosures are handled with judicial oversight, thus protracting the process, but it also has a higher volume of them. Compound this with the “robo signer” scandal and the system all-but stalled. But there’s good news, the kinks have been ironed out and it’s all systems go for Florida foreclosures.

Adam Cornwell, Managing Director of Feltrim International, is pleased with the progress, “Whilst more homes may be starting the foreclosure process as this period of limbo comes to an end, many more are also finishing it and hitting the Florida property market. Fortunately there are many investment buyers out there, particularly from Canada, Brazil, the UK and Far East, who are ready and waiting to snap up this flood of bargain homes. In fact a recent study from listing website Point2 showed that over 31% of foreign investors looking at the US for real estate homed in on Florida. And, with new home construction currently at a stand-still, existing stock will continue to be their preferred option.”

Adam continues, “It’s not just price that underpins the investment proposition in Florida, rental potential is a key factor that creates stability. 51 million tourists came to Orlando last year, many of them to explore Walt Disney World and short-term lets are booming. Meanwhile unfavourable mortgage lending, a lack of confidence and the need to wait for two or three years for a credit rating to rebound after a foreclosure, creates a huge local demand for long-term rentals. Investors can soak up 8 to 10% return on investment in rental income and wait patiently while the market readjusts and recovers – which indeed it already is. The US economy is improving and current unemployment levels are at 8.3%, a three year low. Fewer people are defaulting on their payments and property prices are on a natural rise.”

The “robo signing” scandal which came to a head at the end of 2011 centred around under-qualified bank personnel blindly signed thousands of foreclosure papers on a daily basis without verifying the authenticity of the paperwork – a practice that was inadmissible. The subsequent law suit stalled foreclosures while cases were investigated for fraudulent activity. Whilst this was good for the homeowner, delaying their impending foreclosure, it was frustrating for the property market. The result was the average time it took for a foreclosure to complete rising from 169 days in Q1 2007 to 806 days in Q4 2011 – well over two years. Fortunately, in February of this year, the five major lenders involved in robo signing came to a 25 billion dollar settlement agreement which paved the way for a fresh wave of foreclosures to hit the market.

According to RealtyTrac, one of America’s most trusted sources of foreclosure statistics, overall foreclosure filings in Florida, which include initial notices, notices of sale and repossessions, were 40% higher in February 2012 than they were in 2011 – but remember this is coming from a very low base. Florida is taking steps to increase the number of judges and administrators on hand to clear the paperwork and the hearings and flush the glut of foreclosures through the system. This is very much in the banks’ interest as all the while they are carrying the cost of securing, insuring and maintaining the homes on their books.

Florida’s housing market peak was in 2006 to 2007 and maybe it’ll take a while to get back there but prices are already moving back in the right direction, albeit slowly. The only time anyone can pinpoint the bottom of the market is when it’s out the other side, by looking in the rearview mirror and making the call, but conditions are most definitely stabilising and when finance becomes more readily available there will be a sharper upswing.

On the Market:
333 Cherokee Haines City Florida 150k www feltriminternational com Florida Foreclosures
Detached House, Haines City, Florida
Bright 165m² three bedroom two bathroom home with a screened-in heated swimming pool, hot tub and shower to the rear. Spacious eat-in kitchen with all appliances, separate utility room and master suite with walk-in wardrobe. Private corner plot in a nice, gated community where short-term rentals are allowed.

Price: from 150,000 USD (approx 94,393 GBP)

Click HERE for further details

Delancey Drive Davenport Florida 65k www feltriminternational com Florida ForeclosuresDetached House, Davenport, Florida
Built in 2005, this three bedroom two bathroom 165m² property has one of the keenest price tags you’ll see on a foreclosure in this area. Just three miles from the main interstate highway I-4 bringing you to Walt Disney World in 20 minutes and 30 minutes to downtown Orlando – a 13% net rental return on this property is highly reasonable after costs and taxes.

Price: from 65,000 USD (approx 40,903 GBP)
Click HERE for further details
]]> http://www.feltriminternational.com/florida-foreclosures/feed 0 Spanish Golf Property Loses Its Premium Price Tag http://www.feltriminternational.com/spanish-golf-property-loses-premium-price-tag http://www.feltriminternational.com/spanish-golf-property-loses-premium-price-tag#comments Thu, 08 Mar 2012 12:10:32 +0000 admin http://www.feltriminternational.com/?p=1486 Spanish Golf Property Loses Its Premium Price Tag Spanish Golf Property Loses Its Premium Price Tag
Spanish Golf Property Loses Its Premium Price Tag

When the Costa del Sol property market was at its peak in the mid-2000s, developers building in prime golf locations added a hefty loading to their price tags. Golf-side was second only to beachfront and a two bedroom apartment wouldn’t always give you change from half a million euros. In order to sell unsold inventory in today’s climate, that premium has been dropped but the benefits remain the same.


Adam Cornwell, Managing Director of Feltrim International comments, “As Spain struggles to cope with the collapse of its construction industry, many properties now lie in the hands of the banks. Whilst many are below par at best, there are some genuine top quality homes within their stock including golf-front. As the Government aims to clean up and restart the banking system, lenders are being asked to recognise bigger provisions on their property portfolios which encourages them to offload the stock by dropping prices and offering significant financial incentives to purchase. This means that not only has the clock turned back six or seven years in terms of pricing, but also in terms of lending with 110% mortgages reappearing on bank-owned developments. Prime golf property is within reach once again.”

Golf property always has appeal, particularly on the Costa del Sol with its 70-plus courses, short flying times from northern Europe and reliable year-round climate. Owners soak up all the benefits of discounted green fees or rights of play, protected attractive green views, a well-maintained community, gated access and security, additional on-site leisure and social facilities and enhanced potential for rental income as golf continues to grow in popularity as a sport. These benefits used to come at a cost, but with the market at rock bottom that’s a thing of the past.

Adam continues, “It’s an ongoing debate – is the Costa del Sol property market at rock bottom? – and I can only say that if a bank is prepared to lend 110% on heavily discounted property it must have confidence in the long-term value of that home in that particular location. The inventory of unsold property in prime coastal areas for discerning buyers is dropping, demand is growing from overseas buyers and they are looking with a long-term lifestyle perspective rather than a short-term investment mentality. The new Government, sworn in in December 2011, has offered political stability and created reasonable expectations for the coming years which have instilled a degree of confidence and optimism in the market. If the price, location and quality stack up, there is no reason to wait to buy.”

Somewhere the figures do stack up is in the resort of Los Flamingos just to the west of Puerto Banús in a countryside setting yet a stone’s throw from the beach. Boasting an incredible three 18-hole golf courses, a driving range and an acclaimed American Golf Academy, Los Flamingos has hosted the European Senior’s Circuit final, no less than three Daily Telegraph European Seniors Match Play Championships and the 2010 Ladies Spanish Open won by Laura Davies. The focal point of Los Flamingos is the luxury five star 129-room Villa Padierna Palace Hotel, which in 2010 was home to America’s First Lady Michelle Obama, her daughter and friends for a few days holiday. Styled as a Tuscan Palace, the Villa Padierna Palace Hotel is known for its original pieces of art and antiques from the owner’s private collection, fine dining, luxurious Spa, wellness centre and exquisite landscaped gardens.

Directly overlooking the Villa Padierna Palace Hotel, Hoyo 19 is a top-end gated apartment resort finished in a refreshing contemporary style. Entirely orientated to the south and southwest, all homes have incredible views of the Los Flamingos golf and the Mediterranean coastline – a view that becomes ever more dramatic as the sun sets and night falls. The apartments themselves enjoy top specifications and qualities as well as private underground parking and storage whilst community facilities on-site include a Spa, putting green, tennis courts and two private swimming pools.

Now under bank ownership, the one, two and three bedroom apartments are being sold for half the developer’s price of three years ago with some incredible terms. Clients are able to take advantage of a specially negotiated 110% mortgage, to cover all closing costs, and take two years interest-only repayment terms with rates from as low as 0.25% plus Euribor – all for just a 2% commitment fee. Key-ready furniture packages are also available. Prices start from 238,000 euros (approx 198,500 GBP) for a two bedroom two bathroom apartment. For further details CLICK HERE and also see our other listings on the Costa del Sol HERE]]> http://www.feltriminternational.com/spanish-golf-property-loses-premium-price-tag/feed 0 Shrewd international homebuyers target properties in Florida http://www.feltriminternational.com/shrewd-international-homebuyers-target-properties-florida http://www.feltriminternational.com/shrewd-international-homebuyers-target-properties-florida#comments Tue, 06 Mar 2012 13:07:26 +0000 admin http://www.feltriminternational.com/?p=1454 Tuscana Resort Champions Gate Orlando Florida Shrewd international homebuyers target properties in Florida
Shrewd international homebuyers target properties in Florida

As reported in International Estate Agent Today, Gary Kenny, chief executive of Coldwell Banker Feltrim and Feltrim International, says that Florida is a property hotspot once again.



A.

We’re already off to a good start this year. So much so that at Coldwell Banker Feltrim (Feltrim International’s sibling in Florida) I’ve already appointed five new sales agents to cope with rising demand.

During the dark and dismal past few years, when the property market here totally collapsed, I always had confidence that this area would bounce back, and that faith is now being rewarded.

What’s particularly exciting for Coldwell Banker Feltrim and Feltrim International is that central Florida is now attracting buyers from all corners of the globe – two of my new agents are specialising in the South American markets, particularly Brazil and Columbia, where I see great growth for us over the next three years.

The Canadian market has also been a great success for us since we concentrated our attention there in October last year. By offering special exploratory tours where as well as inspecting a selection of properties, the prospective clients also meet with our in-house property management and rental divisions as well as expert tax advisors , we have large parties of Canadians booked to visit central Florida over the next few months.

In February alone, one of our agents has sold 10 resale units at our Tuscana Resort in Orlando to Canadian snowbirds, who head south to Florida for two to three months a year to escape their harsh winters.

It is demand like this that is driving Coldwell Banker Feltrim (and Feltrim International) not only to increase its staff but also to acquire more quality properties that we can market to this growing number of international buyers.

There is a real shortage of prime propertiy on the market in central Florida at the moment. Just this week I submitted a bid to bulk purchase 40 units in a resort that is in foreclosure and being sold off by the bank, only to find that we are competing with eight other companies looking to acquire the some homes!

One area that I consider will become a prime location in 2012 is Jacksonville, the largest city in the sunshine state.

In a new report by Metrostudy, a firm which boasts the most extensive database on residential construction in the US housing market, the growth of new jobs in this city has increased by 1.4% which is far greater than the Florida rate which is 0.6%. In addition, the construction of single family homes has increased here by 19.3% in the last quarter of 2011.

Despite its size, Jacksonville remains an untapped location for overseas buyers and yet is only a two hour drive from Orlando and its famous theme parks. Jacksonville itself, or Jax as its known locally, is a thriving tourist destination, known for its sandy coastline and outdoor lifestyle. It also benefits from a vibrant business district and retail thoroughfares.

We’ve had tremendous interest from buyers looking to find quality properties in the Jacksonville area, so much so that we’ve recruited two new, local agents. The location offers tremendous value and its economy is bouncing back at a quicker rate that elsewhere in Florida, but I believe prices will start to rise as the availability of good properties on the market remains limited.

We’re seeing a greater demand for single-family homes, rather than condos, across central Florida where builder confidence has doubled in the last quarter of 2011 which is terrific and, combined with the return to record visitor figures of 50 million last year, it’s a promising sign of more sustainable growth.

Prices for properties in Jacksonville, available from Feltrim International, range from only $140,000 (£88,250) for a single family, four bedroom home or $80,000 (£50,432) for a condo.

Jacksonville offers an alternative choice to the theme parks of Orlando, and it’s proving increasingly popular with buyers of all nationalities. We’re only seven weeks into the year and demand for property across central Florida is growing week by week, which is great to see.

For further information on properties in both Orlando and Jacksonville CONTACT US today.]]> http://www.feltriminternational.com/shrewd-international-homebuyers-target-properties-florida/feed 0 Florida housing market upbeat in January 2012 http://www.feltriminternational.com/florida-housing-market-upbeat-january-2012 http://www.feltriminternational.com/florida-housing-market-upbeat-january-2012#comments Thu, 23 Feb 2012 12:07:32 +0000 admin http://www.feltriminternational.com/?p=1407
Florida housing market upbeat in January 2012

Florida’s housing market reported gains in median sales prices and a reduced inventory of homes for sale in January, according to the latest housing data released by Florida Realtors®.



“We’re seeing positive signs of a strengthening recovery in Florida’s housing market,” says 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “In both the statewide single-family and condo-townhome markets, pending sales are higher and the statewide median sales price rose – up 5.3 percent to $129,000 for single-family homes and up 18.8 percent to $95,000 for condo-townhomes. Improving the availability of affordable financing to qualified buyers and investors would continue to stabilize Florida’s housing market and economy.”

The median is the midpoint; half the homes sold for more, half for less. Sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes, according to housing industry analysts.

The national median sales price for existing single-family homes in December 2011 was $165,100, which is 2.5 percent below the previous year, according to the National Association of Realtors® (NAR). In California, the statewide median sales price for single-family existing homes in December was $285,920; in Maryland, it was $222,934.

Florida statewide sales of existing single-family homes totaled 12,044 in January 2012, down 5.5 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing.

Looking at Florida’s year-to-year comparison for sales of condos/townhomes, a total of 5,963 units sold statewide last month, down 22.6 percent from those sold in January 2011. According to NAR, the national median existing condo price in December 2011 was $160,000.

“Even though closed sales are down from a year ago, there are two really bright spots in Florida’s housing market,” said Florida Realtors Chief Economist Dr. John Tuccillo. “One is a significant increase in pending sales. In fact, pending sales have been up every month since May. The barrier that stands between pending sales and closings is the difficulty consumers are experiencing in obtaining financing.

“The second positive is inventories, which are now at a point close to a balanced market,” Tuccillo said. The months supply of inventory stands at 6.4 for both the single-family homes market and the condos/townhomes market.

The interest rate for a 30-year fixed-rate mortgage averaged 3.92 percent in January 2012, down from the 4.76 percent average during the same month a year earlier, according to Freddie Mac.

CLICK HERE for further details of our latest Florida listings]]> http://www.feltriminternational.com/florida-housing-market-upbeat-january-2012/feed 0 Spanish Banks Prepared to Lend Over 100% on their own Quality Stock http://www.feltriminternational.com/spanish-banks-prepared-lend-100-quality-stock http://www.feltriminternational.com/spanish-banks-prepared-lend-100-quality-stock#comments Wed, 22 Feb 2012 17:43:32 +0000 admin http://www.feltriminternational.com/?p=1401 Newsletter Spain 3 3 150x150 Spanish Banks Prepared to Lend Over 100% on their own Quality Stock
Spanish Banks Prepared to Lend Over 100% on their own Quality Stock
Spanish home loans have fallen for the 14th consecutive quarter. Data from the National Statistics Institute out in December 2011 showed that October lending was 43.6% down on the previous year and the lowest monthly figure since 2003 – beating even 2008, the year the ‘bubble burst’.

Yet banks will lend more than 100% on their own stock to high quality borrowers and Feltrim International has access.

Managing Director Adam Cornwell comments, “Whilst Spanish mortgage lending is not expected to recover in 2012 due to high unemployment and limited bank funding, financial institutions have to optimise their balance sheets. Recent reports from a leading risk adviser say banks have around 30 billion euros-worth of property that they can’t sell. To incentivise quality buyers they are prepared to offload these homes at rock bottom prices and with the highest mortgages. At Feltrim International we have a luxury beachside development close to Marbella at 50% off the developer’s 2007 price plus a 110% mortgage option with two years interest only – all the more incredible given the financial crisis.”

Of course Feltrim International is not interested in Spanish property in the middle of nowhere or the cheek-by-jowl cheap coastal homes – both of which are worth literally nothing – it is the desirable areas that are proving to be most popular with repossession hunters.

Adam continues, “If a bank is prepared to lend all of the money, more than 100%, on a project that has fallen to 50% of its value five years previously then it must have the confidence that first the market has reached the bottom in this particular location and second the property will regain its value in the not too distant future. Ironically we are now in a situation where the best units in these marked-down resorts are selling fast, just like in the heady days of the property boom when the best off-plan units were snapped up fast – albeit now they have the peace of mind of something complete and tangible. Investors can buy using very little, or none, of their own capital with the risk being entirely taken by the bank – this simply does not happen in any other distressed market in the world. As the phrase goes – if you see the bandwagon, you’ve missed it – so best to act early.”

Marbella is as “safe” a location as you’re going to get in Spain. It already has a fantastic infrastructure, licensing issues have been resolved under the new urban plan (PGOU) approved in 2010 and the tourists come in a steady stream attracted by more than 70 golf courses, year-round sunshine, endless beaches and no frills flights. In 2009 RyanAir established a base at Málaga Airport and the carrier now operates 39 routes whilst over recent years Delta Airlines has added a direct flight to JFK, Saudi Arabian Airlines direct to Jeddah and Riyadh and significantly a selection of airlines, including Aeroflot, have introduced direct flights to the several Moscow Airports. Marbella now has true global appeal.

Perhaps the single best piece of news in Marbella for 2012 is the announcement that a 109 million euro plan to expand Marbella’s fishing port has been given the green light. The long planned transformation of La Bajadilla into one of the most luxurious marinas on the Mediterranean can now take shape after the Junta de Andalucia, Marbella town hall and the Nasir Bin Abdullah & Sons Consortium signed a contract allowing construction to begin. The plan, which is expected to take four years to complete, includes a commercial area of 23,000m², a five star hotel and three times the current number of moorings including access for cruise ships and megayachts. The mayor of Marbella, Angeles Munoz, said “it is a great opportunity not to be missed.”

The new Rajoy Government may have to implement some unpopular policies to drag Spain out of economic turmoil, it has already announced an 8.9 billion euro budget cut across all Government departments, but the long-term result will be a stronger more optimistic country and the market will return to normality. Meanwhile property is cheap, tourism is recovering and the investment opportunity is there for the taking.

On the Market – Soto Serena, nr Marbella, Costa del Sol
Designed by signature architect Melvin Villarroel who has been responsible for many of Spain’s iconic hotel, shopping and residential projects; Soto Serena sits in over 34,000m² of beautiful landscaped gardens with large freeform swimming pools, a feature waterfall, fully equipped gymnasium and sauna and a bar/restaurant area. The apartments are fully furnished to high specification, have large terraces with superb views, fitted hot and cold air-conditioning, parking and storage and immense rental potential. Ideally located just 300 metres from the beach with beautiful Mediterranean and golf views, the gated community of Soto Serena is just 12 minutes drive from chic Puerto Banús and even closer to nearby Estepona with its shops, bars and fishing marina. Local agents project that 16 weeks (high season) rental income should keep the investment cash neutral in the first five years leaving 36 weeks personal use at no extra expense. We are able to offer an incredible finance deal on this luxurious development to include a 50% discount off the developer’s price plus a 110% mortgage option (including closing costs) with two years interest only at rates from 0.25% plus Euribor.
Price 184,000 euros (approx 158,233 GBP) for a one bedroom penthouse (was priced at 368,000 euros in 2007 – half price)

Contact Feltrim International on UK Freephone 0800 862 0280 or telephone +44 (0) 20 7183 4045, email info@feltriminternational.com or visit www.feltriminternational.com.


]]> http://www.feltriminternational.com/spanish-banks-prepared-lend-100-quality-stock/feed 0 Theme Parks Undergo Expansion as Orlando Beats New York on Visitors http://www.feltriminternational.com/theme-parks-undergo-expansion-orlando-beats-york-visitors-2 http://www.feltriminternational.com/theme-parks-undergo-expansion-orlando-beats-york-visitors-2#comments Wed, 22 Feb 2012 17:38:03 +0000 admin http://www.feltriminternational.com/?p=1395 Newsletter US 2 3 150x150 Theme Parks Undergo Expansion as Orlando Beats New York on Visitors
Theme Parks Undergo Expansion as Orlando Beats New York on Visitors
Proof that American recovery is in sight, Universal Studios and Walt Disney World Resort are pouring millions of dollars into expansion programmes.Both based in Orlando, the first city in the United States to ever hit the 50 million plus visitors mark, the Theme Parks are taking advantage of mighty marketing and research prowess alongside reduced ‘recession’ construction costs to set the scene for future success.


Adam Cornwell, who heads up Feltrim International’s UK office, explains, “Aside from the obvious backlog of foreclosures which is gradually being burnt off, the property market has stabilised and Florida’s fortunes are on the up. There are cash buyers out there, of all nationalities from Brits to Brazilians, and the State experienced a double-digit percentage rate increase in sales for 2011 over 2010. Much of this is fuelled by Florida’s unrivalled status as a tourist hotspot and the allure of steady rental income in a sunshine State.”

In 2010 the city of Orlando attracted an incredible 51.5 million visitors whilst New York had to settle for 48.7 million and number two spot. Although New York went on to break the 50 million barrier in 2011 with 50.2 million tourists, Orlando is expected to reveal that it once more surpassed 51 million when 2011 figures become available. The Magic Kingdom, just one of Walt Disney World’s four iconic Theme Parks, attracted almost 17 million tourists in 2010 making it the world’s most-visited entertainment resort. These tourist attractions are not resting on their laurels but are instead using the economic downturn as an opportunity to revamp and expand their offer.

For Walt Disney World the biggest news of 2011 was the official green light for an Avatar-themed land at Animal Kingdom. With construction scheduled to begin in 2013, Film Director James Cameron is already chomping at the bit saying, “with two new Avatar films currently in development, we’ll have even more locations, characters and stories to explore. Our goal is to go beyond current boundaries of technical innovation and experiential storytelling, and give parkgoers the chance to see, hear, and touch the world of Avatar with an unprecedented sense of reality.”

Long-term project Avatar aside, more imminent improvements for Walt Disney World include the expansion of Fantasyland to include the Beast’s castle, a Seven Dwarfs’ mine train rollercoaster and the Journey of the Little Mermaid attraction, all of which are expected open to the public in late 2013 early 2014. Meanwhile in 2012 the Art of Animation Resort hotel will open, inspired by classics such as Finding Nemo, The Lion King and Cars, as will an expanded Dumbo attraction. A Disney spokesperson said, “Fantasyland, with its storybook setting, always will be the place where even the youngest of guests can experience many of our most popular attractions with their entire family.”

At Universal Studios it’s out with the old and in with the new. Their classic Jaws attraction, a park favourite for more than 20 years, officially closed on 2 January this year to make way for an exciting new experience – hotly tipped to be Harry Potter inspired. With the Wizarding World already in place at Islands of Adventure, rumours abound that a Hogwarts Express train will link to Universal Studios and a whole host of new Harry Potter attractions. A Transformers ride is also in the rumour mill frame. Other changes at Universal Studios include a new Despicable Me attraction and an update to The Amazing Adventures of Spiderman – both with crisp HD technology and pencilled in for a summer 2012 reveal.

President Obama headed to Walt Disney World last month, to galvanise a national strategy to make the United States the world’s number one tourist destination. Standing in front of Cinderella’s Castle he said, “We’ve got the best product to sell. I mean look at where we are” and argued that Disney represents “the quintessentially American spirit.” International tourists spent an estimated 140 billion US dollars in the States last year but its global share has plunged from 17% to 11%. Post 9/11 security procedures are to blame with Brazilian tourists for example having to wait months for tourist visas. Obama wants to simplify the process and add more consuls in countries such as China and Brazil to tap into these lucrative source markets.

Feltrim International has two bedroom condo apartments for sale in the Mediterranean-style villa resort of Tuscana priced from just $99,900 USD (approx £64,500 GBP). This more than 70% below their peak price of $360,000 USD in 2008. At the heart of Orlando’s attractions, properties at Tuscana are fully furnished and equipped alongside a wealth of amenities such as a large swimming pool complex, hot tub, 30-seat cinema, fitness centre, bar, restaurant and free wifi. Rentals can be managed by on-site staff.

The Feltrim International Head Office in Orlando hosts inspection trips including a tour of Tuscana Resort, the local area and other investment properties in its portfolio. Guests stay at Tuscana Resort at discounted rates. Call Feltrim International on UK Freephone 0800 862 0280, international +44 (0) 20 7183 4045, email info@feltriminternational.com or visit www.feltriminternational.com.
]]> http://www.feltriminternational.com/theme-parks-undergo-expansion-orlando-beats-york-visitors-2/feed 0 Cape Verde’s Economy on the up http://www.feltriminternational.com/cape-verde%e2%80%99s-economy http://www.feltriminternational.com/cape-verde%e2%80%99s-economy#comments Wed, 22 Feb 2012 17:20:51 +0000 admin http://www.feltriminternational.com/?p=1383 Newsletter Cape Verde 3 32 150x150 Cape Verde’s Economy on the up
Cape Verde’s Economy on the up

Whilst the rest of us are sick of the doom and gloom surrounding the European debt crisis the Cape Verde economy has little to complain about, according to the IMF GDP growth is expected to rise to 7.1% by 2013, news of a fresh aid injection by a leading US Aid Agency has given the African nation a welcome boost.

The 66.2 million US dollar agreement will reform water, sanitation and land-management to foster further economic growth – in particular in real estate and tourism.

Adam Cornwell, Managing Director of Feltrim International comments, “Cape Verde is a nation on a rapid ‘up’. It has halved its 1990 poverty level and in 2008 officially graduated from Least Developed to Middle Income Country status. Much of this positivity stems from one of the fastest growing tourism industries in the world and active encouragement of substantial foreign investment. The five-year agreement with the US Millennium Challenge Corporation announced this week will focus on specific projects to help Cape Verde sustain its growing tourism industry.” Real estate development and tourism will increase as a direct result and around 13,000 jobs created.

The Millennium Challenge Corporation completed its first successful multi-year agreement with Cape Verde in 2010 and helped the Islands turn their reliance on foreign aid to an economy led by private sector growth – in particular tourism.

According to the latest official statistics, tourist arrivals continue growing at a rate of 20% per annum with 219,000 arriving in the first half of 2011, a percentage growth of 27.5% against the same period in 2010. It is projected that Cape Verde will reach half a million tourists annually by 2015 and one million by 2020. The number of hotel beds is also increasing year-on-year. Spanish chain Riu has no less than five hotels across the Islands (four of them five star) and rival Spanish company Melia recently opened its five star hotel on the island of Sal in 2011. Cape Verde ranked third on Skyscanner’s list of emerging destinations in 2011 proving there is now a strong winter sun rival to the Canaries in the mid-haul market from the UK.

New on the island of Boa Vista is the 1,140 unit Santa Mónica Beach Resort & Spa which combines a five star hotel with luxury one and two bedroom apartments and two to five bedroom villas each with private pool. The beachfront Resort has a range of gourmet seafood, oriental and fine dining restaurants, safe and exciting childcare services and a range of leisure pursuits from on-site coaching at the tennis complex to mountain biking, big game fishing, diving, windsurfing, sailing and 4×4 safaris in the local vicinity. A championship standard golf course is planned for alongside the Resort.

Architecture fuses the contemporary with elements of local Afro-European vernacular such as hardwood decking and hand carved stone whilst interiors show fresh clean minimalist lines. The communal swimming pool areas and walkways are dressed by literally thousands of lush tropical plants. Some heavyweights have put their name to Santa Mónica Beach Resort & Spa including Wyndham, the largest hotel operator in the world, to handle guest services and rental management alongside ESPA, a global award-winning Spa operator, to provide blissfully relaxing treatments and products.

The beach at Santa Mónica is well known as one of the world’s key turtle nesting sites as well as being a breeding ground for humpback whales and home to many native and migrating bird species. Boa Vista itself is renowned for its world-leading beaches and much is protected by law as natural park thus preventing overbuilding. Hotel occupancy, according to the Government, is currently 90% and there is no low season due to average daily temperatures consistently hovering between 21ºC and 30ºC which is warmer and more reliable than even the Canary Islands – excellent news for strong rental yields. Boa Vista’s International Airport now takes direct 5.5 hour flights from Glasgow, Gatwick and Manchester and flights from Bristol and Stansted are to be added giving UK visitors greater flexibility. Direct flights to Cape Verde are also in place from Lisbon, Madrid, Milan, Frankfurt, Brussels, Boston and beyond which again helps boost rental yields. Passenger traffic across the Islands’ seven airports rose 11.2% year on year in 2011, from 1.6 million to 1.78 million.

For a limited time early investor discounts of 30% for cash buyers mean prices start from just 83,300 euros for a one bedroom apartment and 325,500 euros for a detached three bedroom villa. Finance options of up to 90% are available making ownership of a one bedroom apartment achievable from just an 11,900 euro deposit. There are also rental and leaseback plans offering up to 7% fixed income with allowances for personal use. Santa Mónica Beach Resort & Spa also qualifies for SSAS and SIPP purchase via fully managed hotel suites from 85,000 euros (official valuation 162,000 euros) with ten-year guaranteed 7% rental income. Licenses and planning permission have been granted and construction is underway on site with phase one scheduled for completion mid 2013. Santa Mónica Beach Resort & Spa offers a unique chance to purchase top-quality property in a prime location – while prices remain low.

Call Feltrim International on UK Freephone 0800 862 0280, international +44 (0) 20 7183 4045, email info@feltriminternational.com or visit www.feltriminternational.com.

]]> http://www.feltriminternational.com/cape-verde%e2%80%99s-economy/feed 0 Spain booms as booking enquiries up 27% in 2011 http://www.feltriminternational.com/spain-booms-booking-enquiries-27-2011 http://www.feltriminternational.com/spain-booms-booking-enquiries-27-2011#comments Mon, 20 Feb 2012 12:51:01 +0000 admin http://www.feltriminternational.com/?p=1376 Malaga province was the fifth most popular destination for the last quarter of 2011 Spain booms as booking enquiries up 27% in 2011
Spain booms as booking enquiries up 27% in 2011

Supply of holiday rental accommodation in Spain grew sharply in the last quarter of 2011 as demand from holidaymakers also stayed strong, according to the UK’s largest holiday home rentals website, HomeAway.co.uk.



Figures released today by the company position Spain as the tenth best performing market in terms of growth in inventory on its website. It was the first time the country entered this top ten last year.

Due to the tough resale market in 2011 it would seem more Spanish holiday homeowners looked to rent out their properties to help cover costs. Now, as property prices are largely thought to have bottomed out, Spain is again becoming one of the most attractive investment options for Brits.

The country also performed well on the demand side too. Overall, booking enquiries for Spain in 2011 were up 27% compared to 2010 and Malaga Province was the fifth most popular destination for holidays in the last quarter of the year, according to HomeAway.co.uk. This supports recent figures from Skyscanner which show Spain remains the number one holiday destination for Brits.
On the other hand, after rapid growth and a promising performance in 2010, Morocco, Egypt and Turkey all saw booking enquiries fall following the Arab Spring. Meanwhile, Euro-zone countries recovered as people switched back to traditional destinations to take advantage of the good exchange rate and stable environment. Based on a survey by HomeAway.co.uk this January, 56% of respondents said they’re planning a trip to the Euro-zone this year to profit from the strong pound.

CLICK HERE for our latest listings in the Malaga province of Spain. ]]> http://www.feltriminternational.com/spain-booms-booking-enquiries-27-2011/feed 0 Fresh Aid Injection to Boost Cape Verde’s Economy http://www.feltriminternational.com/fresh-aid-injection-boost-cape-verde%e2%80%99s-economy http://www.feltriminternational.com/fresh-aid-injection-boost-cape-verde%e2%80%99s-economy#comments Mon, 20 Feb 2012 11:06:23 +0000 admin http://www.feltriminternational.com/?p=1369 Santa Monica Beach Resort Boa Vista Cape Verde Fresh Aid Injection to Boost Cape Verde’s Economy
Fresh Aid Injection to Boost Cape Verde’s Economy

Whilst the Cape Verde economy has little to complain about, according to the IMF GDP growth is expected to rise to 7.1% by 2013, news of a fresh aid injection by a leading US Aid Agency has given the African nation a welcome boost.




The 66.2 million US dollar agreement will reform water, sanitation and land-management to foster further economic growth – in particular in real estate and tourism.

Adam Cornwell, Managing Director of Feltrim International promoting real estate on the Islands, comments, “Cape Verde is a nation on a rapid ‘up’. It has halved its 1990 poverty level and in 2008 officially graduated from Least Developed to Middle Income Country status. Much of this positivity stems from one of the fastest growing tourism industries in the world and active encouragement of substantial foreign investment. However, with scant natural resources and little rainfall, further aid flows have been needed to make the necessary improvements to cope with the influx of tourists. The five-year agreement with the US Millennium Challenge Corporation announced this week will focus on specific projects to help Cape Verde sustain its growing tourism industry.”

The bulk of the aid, 41.1 million US dollars, will help make Cape Verde’s national regularity institutions financially sound and transparent and transform utilities into high-performing commercial organisations. The Islands’ households and businesses will benefit from better quality water and sanitation services. A further 17.3 million US dollars will refine Cape Verde’s legal and institutional environment to make a more attractive climate for large and small investors. Land information will become more reliable, land rights strengthened and land transactions made more efficient. Real estate development and tourism will increase as a direct result and around 13,000 jobs created.

The Millennium Challenge Corporation completed its first successful multi-year agreement with Cape Verde in 2010 and helped the Islands turn their reliance on foreign aid to an economy led by private sector growth – in particular tourism.

According to the latest official statistics, tourist arrivals continue growing at a rate of 20% per annum with 219,000 arriving in the first half of 2011, a percentage growth of 27.5% against the same period in 2010. It is projected that Cape Verde will reach half a million tourists annually by 2015 and one million by 2020. The number of hotel beds is also increasing year-on-year. Spanish chain Riu has no less than five hotels across the Islands (four of them five star) and rival Spanish company Melia recently opened its five star hotel on the island of Sal in 2011. Cape Verde ranked third on Skyscanner’s list of emerging destinations in 2011 proving there is now a strong winter sun rival to the Canaries in the mid-haul market from the UK.

New on the island of Boa Vista is the 1,140 unit Santa Mónica Beach Resort & Spa which combines a five star hotel with luxury one and two bedroom apartments and two to five bedroom villas each with private pool. The beachfront Resort has a range of gourmet seafood, oriental and fine dining restaurants, safe and exciting childcare services and a range of leisure pursuits from on-site coaching at the tennis complex to mountain biking, big game fishing, diving, windsurfing, sailing and 4×4 safaris in the local vicinity. A championship standard golf course is planned for alongside the Resort.

Architecture fuses the contemporary with elements of local Afro-European vernacular such as hardwood decking and hand carved stone whilst interiors show fresh clean minimalist lines. The communal swimming pool areas and walkways are dressed by literally thousands of lush tropical plants. Some heavyweights have put their name to Santa Mónica Beach Resort & Spa including Wyndham, the largest hotel operator in the world, to handle guest services and rental management alongside ESPA, a global award-winning Spa operator, to provide blissfully relaxing treatments and products.

The beach at Santa Mónica is well known as one of the world’s key turtle nesting sites as well as being a breeding ground for humpback whales and home to many native and migrating bird species. Boa Vista itself is renowned for its world-leading beaches and much is protected by law as natural park thus preventing overbuilding. Hotel occupancy, according to the Government, is currently 90% and there is no low season due to average daily temperatures consistently hovering between 21ºC and 30ºC which is warmer and more reliable than even the Canary Islands – excellent news for strong rental yields. Boa Vista’s International Airport now takes direct 5.5 hour flights from Glasgow, Gatwick and Manchester and flights from Bristol and Stansted are to be added giving UK visitors greater flexibility. Direct flights to Cape Verde are also in place from Lisbon, Madrid, Milan, Frankfurt, Brussels, Boston and beyond which again helps boost rental yields. Passenger traffic across the Islands’ seven airports rose 11.2% year on year in 2011, from 1.6 million to 1.78 million.

For a limited time early investor discounts of 30% for cash buyers mean prices start from just 83,300 euros for a one bedroom apartment and 325,500 euros for a detached three bedroom villa. Finance options of up to 90% are available making ownership of a one bedroom apartment achievable from just an 11,900 euro deposit. There are also rental and leaseback plans offering up to 7% fixed income with allowances for personal use. Santa Mónica Beach Resort & Spa also qualifies for SSAS and SIPP purchase via fully managed hotel suites from 85,000 euros (official valuation 162,000 euros) with ten-year guaranteed 7% rental income. Licenses and planning permission have been granted and construction is underway on site with phase one scheduled for completion mid 2013. Santa Mónica Beach Resort & Spa offers a unique chance to purchase top-quality property in a prime location – while prices remain low. CLICK HERE for further information and to download a brochure. A full investor information pack is available on request.


]]> http://www.feltriminternational.com/fresh-aid-injection-boost-cape-verde%e2%80%99s-economy/feed 0 Theme Parks Undergo Expansion as Orlando Beats New York on Visitors http://www.feltriminternational.com/theme-parks-undergo-expansion-orlando-beats-york-visitors http://www.feltriminternational.com/theme-parks-undergo-expansion-orlando-beats-york-visitors#comments Mon, 23 Jan 2012 16:58:34 +0000 admin http://www.feltriminternational.com/?p=1319
Theme Parks Undergo Expansion as Orlando Beats New York on Visitors

Proof that American recovery is in sight, Universal Studios and Walt Disney World Resort are pouring millions of dollars into expansion programmes. Both are based in Orlando, the first city in the USA to ever hit the 50 million plus visitors mark.


The Theme Parks are taking advantage of mighty marketing and research prowess alongside reduced ‘recession’ construction costs to set the scene for future success.

Adam Cornwell, who heads up Florida-based Feltrim International’s UK office, explains, “Aside from the obvious backlog of foreclosures which is gradually being burnt off, the property market has stabilised and Florida’s fortunes are on the up. There are cash buyers out there, of all nationalities from Brits to Brazilians, and the State experienced a double-digit percentage rate increase in sales for 2011 over 2010. Much of this is fuelled by Florida’s unrivalled status as a tourist hotspot and the allure of steady rental income in a sunshine State.”

In 2010 the city of Orlando attracted an incredible 51.5 million visitors whilst New York had to settle for 48.7 million and number two spot. Although New York went on to break the 50 million barrier in 2011 with 50.2 million tourists, Orlando is expected to reveal that it once more surpassed 51 million when 2011 figures become available. The Magic Kingdom, just one of Walt Disney World’s four iconic Theme Parks, attracted almost 17 million tourists in 2010 making it the world’s most-visited entertainment resort. These tourist attractions are not resting on their laurels but are instead using the economic downturn as an opportunity to revamp and expand their offer.

For Walt Disney World the biggest news of 2011 was the official green light for an Avatar-themed land at Animal Kingdom. With construction scheduled to begin in 2013, Film Director James Cameron is already chomping at the bit saying, “with two new Avatar films currently in development, we’ll have even more locations, characters and stories to explore. Our goal is to go beyond current boundaries of technical innovation and experiential storytelling, and give parkgoers the chance to see, hear, and touch the world of Avatar with an unprecedented sense of reality.”

Long-term project Avatar aside, more imminent improvements for Walt Disney World include the expansion of Fantasyland to include the Beast’s castle, a Seven Dwarfs’ mine train rollercoaster and the Journey of the Little Mermaid attraction, all of which are expected open to the public in late 2013 early 2014. Meanwhile in 2012 the Art of Animation Resort hotel will open, inspired by classics such as Finding Nemo, The Lion King and Cars, as will an expanded Dumbo attraction. A Disney spokesperson said, “Fantasyland, with its storybook setting, always will be the place where even the youngest of guests can experience many of our most popular attractions with their entire family.”

At Universal Studios it’s out with the old and in with the new. Their classic Jaws attraction, a park favourite for more than 20 years, officially closed on 2 January this year to make way for an exciting new experience – hotly tipped to be Harry Potter inspired. With the Wizarding World already in place at Islands of Adventure, rumours abound that a Hogwarts Express train will link to Universal Studios and a whole host of new Harry Potter attractions. A Transformers ride is also in the rumour mill frame. Other changes at Universal Studios include a new Despicable Me attraction and an update to The Amazing Adventures of Spiderman – both with crisp HD technology and pencilled in for a summer 2012 reveal.

Coincidentally President Obama headed to Walt Disney World on Thursday this week, 19 January, to galvanise a national strategy to make the United States the world’s number one tourist destination. Standing in front of Cinderella’s Castle he said, “We’ve got the best product to sell. I mean look at where we are” and argued that Disney represents “the quintessentially American spirit.” International tourists spent an estimated 140 billion US dollars in the States last year but its global share has plunged from 17% to 11%. Post 9/11 security procedures are to blame with Brazilian tourists for example having to wait months for tourist visas. Obama wants to simplify the process and add more consuls in countries such as China and Brazil to tap into these lucrative source markets.

Feltrim International has two bedroom condo apartments for sale in the Mediterranean-style villa resort of Tuscana priced from just $99,900 USD (approx £64,500 GBP). This more than 70% below their peak price of $360,000 USD in 2008. At the heart of Orlando’s attractions, properties at Tuscana are fully furnished and equipped alongside a wealth of amenities such as a large swimming pool complex, hot tub, 30-seat cinema, fitness centre, bar, restaurant and free wifi. Rentals can be managed by on-site staff.

The Feltrim International Head Office in Orlando hosts inspection trips including a tour of Tuscana Resort, the local area and other investment properties in its portfolio. Guests stay at Tuscana Resort at discounted rates. Call us today on UK Freephone 0800 862 0280, international +44 (0) 20 7183 4045 or fill in our CONTACT FORM HERE and one of our staff will be in contact.
]]> http://www.feltriminternational.com/theme-parks-undergo-expansion-orlando-beats-york-visitors/feed 0 Spain is the happiest ex-pat destination http://www.feltriminternational.com/spain-happiest-ex-pat-destination http://www.feltriminternational.com/spain-happiest-ex-pat-destination#comments Sat, 21 Jan 2012 12:05:01 +0000 admin http://www.feltriminternational.com/?p=1310
Spain is the happiest ex-pat destination
Spain has been announced as the happiest expat destination, according to the latest findings from Lloyds TSB International.
The company’s research asked over 1,000 British citizens in the 10 most popular expat destinations to rate their new homes on factors ranging from quality of life to cost of living.



75.9% of those who now lived in Spain said that they were happier now than when they were living in the UK, compared with the average of 68%. An important reason for the country’s high ranking is the fact that over 70% of expats believed they were better off since their move, despite the country’s poor economic situation. 80% agreed that the cost of living was low, a higher response than any other country.

Other countries which fared well on the happiness index were Canada and Germany, where 72.2 per cent and 71.4 per said they were happier respectively.

John Kramer, a British expat who lives in Andalucia, said that he was unsurprised by the fact most expats were happier in Spain, because its “outdoor lifestyle, traditional family values, and positive outlook on life” made it a very easy place to enjoy. “People still look after one another and really do live in the moment,” he explained. “The Spanish still seem to value the things that we have long ago forgotten.”

If you’re thinking of making the move to Spain, come along to A Place in the Sun Live at Earls Court, London between 30th March – 1st April, where there is a daily session on buying property in Spain and a daily session on emigration, giving you all the information you need to make a permanent move from the UK. Then come round and visit us on stand FL3. In fact CONTACT US today and we’ll arrange for you to receive TWO complimentary tickets to the show. Fill in the contact form on our website (quoting FL3 in the comments section) for your FREE tickets.
]]> http://www.feltriminternational.com/spain-happiest-ex-pat-destination/feed 0 Spanish banks prepared to lend over 100 per cent on their own quality stock http://www.feltriminternational.com/spanish-banks-prepared-lend-100-per-cent-quality-stock http://www.feltriminternational.com/spanish-banks-prepared-lend-100-per-cent-quality-stock#comments Fri, 06 Jan 2012 13:35:18 +0000 admin http://www.feltriminternational.com/?p=1252
Spanish banks prepared to lend over 100 per cent on their own quality stock
Spanish home loans have fallen for the 14th consecutive quarter. Data from the National Statistics Institute out in December 2011 showed that October lending was 43.6% down on the previous year and the lowest monthly figure since 2003 – beating even 2008, the year the ‘bubble burst’. Yet banks will lend more than 100% on their own stock to high quality borrowers and Feltrim International has access.

Adam Cornwell, Managing Director of Feltrim International comments, “Whilst Spanish mortgage lending is not expected to recover in 2012 due to high unemployment and limited bank funding, financial institutions have to optimise their balance sheets. Recent reports from a leading risk adviser say banks have around 30 billion euros-worth of property that they can’t sell. To incentivise quality buyers they are prepared to offload these homes at rock bottom prices and with the highest mortgages. At Feltrim International we have a luxury beachside development close to Marbella at 50% off the developer’s 2007 price plus a 110% mortgage option with two years interest only – all the more incredible given the financial crisis.”
Of course Feltrim International is not interested in Spanish property in the middle of nowhere or the cheek-by-jowl cheap coastal homes – both of which are worth literally nothing – it is the desirable areas that are proving to be most popular with repossession hunters.

Adam continues, “If a bank is prepared to lend all of the money, more than 100%, on a project that has fallen to 50% of its value five years previously then it must have the confidence that first the market has reached the bottom in this particular location and second the property will regain its value in the not too distant future. Ironically we are now in a situation where the best units in these marked-down resorts are selling fast, just like in the heady days of the property boom when the best off-plan units were snapped up fast – albeit now they have the peace of mind of something complete and tangible. Investors can buy using very little, or none, of their own capital with the risk being entirely taken by the bank – this simply does not happen in any other distressed market in the world. As the phrase goes – if you see the bandwagon, you’ve missed it – so best to act early.”

Marbella is as “safe” a location as you’re going to get in Spain. It already has a fantastic infrastructure, licensing issues have been resolved under the new urban plan (PGOU) approved in 2010 and the tourists come in a steady stream attracted by more than 70 golf courses, year-round sunshine, endless beaches and no frills flights. In 2009 RyanAir established a base at Málaga Airport and the carrier now operates 39 routes whilst over recent years Delta Airlines has added a direct flight to JFK, Saudi Arabian Airlines direct to Jeddah and Riyadh and significantly a selection of airlines, including Aeroflot, have introduced direct flights to the several Moscow Airports. Marbella now has true global appeal.

Perhaps the single best piece of news in Marbella for 2012 is the announcement that a 109 million euro plan to expand Marbella’s fishing port has been given the green light. The long planned transformation of La Bajadilla into one of the most luxurious marinas on the Mediterranean can now take shape after the Junta de Andalucia, Marbella town hall and the Nasir Bin Abdullah & Sons Consortium signed a contract allowing construction to begin. The plan, which is expected to take four years to complete, includes a commercial area of 23,000m², a five star hotel and three times the current number of moorings including access for cruise ships and megayachts. The mayor of Marbella, Angeles Munoz, said “it is a great opportunity not to be missed.”

The new Rajoy Government may have to implement some unpopular policies to drag Spain out of economic turmoil, it has already announced an 8.9 billion euro budget cut across all Government departments, but the long-term result will be a stronger more optimistic country and the market will return to normality. Meanwhile property is cheap, tourism is recovering and the investment opportunity is there for the taking.

On the Market – Soto Serena, nr Marbella, Costa del Sol

Designed by signature architect Melvin Villarroel who has been responsible for many of Spain’s iconic hotel, shopping and residential projects; Soto Serena sits in over 34,000m² of beautiful landscaped gardens with large freeform swimming pools, a feature waterfall, fully equipped gymnasium and sauna and a bar/restaurant area. The apartments are fully furnished to high specification, have large terraces with superb views, fitted hot and cold air-conditioning, parking and storage and immense rental potential. Ideally located just 300 metres from the beach with beautiful Mediterranean and golf views, the gated community of Soto Serena is just 12 minutes drive from chic Puerto Banús and even closer to nearby Estepona with its shops, bars and fishing marina. Local agents project that 16 weeks (high season) rental income should keep the investment cash neutral in the first five years leaving 36 weeks personal use at no extra expense. We are able to offer an incredible finance deal on this luxurious development to include a 50% discount off the developer’s price plus a 110% mortgage option (including closing costs) with two years interest only at rates from 0.25% plus Euribor.

Price 184,000 euros (approx 152,000 GBP) for a one bedroom penthouse (was priced at 368,000 euros in 2007 – half price)
For more information CLICK HERE]]> http://www.feltriminternational.com/spanish-banks-prepared-lend-100-per-cent-quality-stock/feed 0 Keeping up with the El Joneses http://www.feltriminternational.com/keeping-el-joneses http://www.feltriminternational.com/keeping-el-joneses#comments Fri, 23 Dec 2011 13:03:08 +0000 admin http://www.feltriminternational.com/?p=1220
Keeping up with the El Joneses
According to the latest statistics from The Ministry of Public Transactions in Spain, property sales made by foreign residents made a huge jump of 24.7% in the third quarter of 2011. So what do those ‘on the ground’ in Spain know that they’re not telling us?




The significant jump could at least in part be due to the 50% cut in IVA (VAT) tax for the purchase of new property that officially expires on 31st December. Another contributory factor may well be that banks in Spain have started offering 100% + costs mortgage deals with added bonuses including mortgage holidays and low interest-only mortgage rates to shift at least some of the property surplus that they are currently weighed down with. While both of these factors have undoubtedly had a positive effect on sales numbers for the 3rd quarter, personally I believe there is another explanation. Could it be that the canny foreign residents are just well placed to see the opportunity that is right under their noses? Are they placing all their chips on prices not falling any further?

Speaking to clients here in the UK every day as well as many friends, colleagues and buyers on the ground in Spain, there is definitely a noticeable contrast in attitude. I’m still amazed by how few of my fellow Brits can see an opportunity when it is staring them in the face. Go back to the hey days of the early to mid noughties and appetite for overseas property among Brits (and the Irish) was enormous. Prices had been steadily climbing for years and the average apartment in Marbella was costing more than the average English country estate. I remember commenting at the time that there had been a time when people could sell their pokey flat in the UK and buy the dream villa in Spain but that at that time (mid noughties) the opposite was then true. For some of us at least, there was a big day-glow warning sign that maybe the party was over and the hangover would soon be upon us. Unfortunately some couldn’t see the writing on the wall and many kept drinking until the vino had run dry and there were no cabs left to take them home.

Fair enough, not many could have accurately predicted that little matter of the GFC and even the smug party-goers who had left early, with their dignity intact and even drunk a few large glasses of water before bed were probably a little bit shocked by the size and intensity of the Hangover. The fact was GFC or no GFC, the writing had been on the wall for Spanish property for a long time. The signs were all there. The oversupply, the ridiculous pricing. All of it built on weak foundations that towards the end was made of little more than speculation from investors. So yes, while the GFC may have been the rather large and tacky straw donkey that broke the camels back, it had long been on the cards for Spain. The result just meant that Spanish property got hit a lot harder than it would have been anyway.

Of course this is not a new phenomenon. For years us humans have suffered from a condition that dictates when something is going well then we all want to jump on the band wagon. Unfortunately the more cautious amongst us wait until the wagon is leaving town, weighed down with the masses and the axle in breaking under the inevitable strain. We want to ensure that things are really that good before we part with our own hard-earned money. I mean sure, we all heard that the Joneses (let’s make the Joneses the trail blazers for once) that live up the street bought an apartment in some little known place 10 minutes from somewhere called Marbella. They were always a little bit crazy though the Joneses.

Before long we start to hear a few positives and even learn a bit more from various friends and relatives that have managed to arrange a small remortgage and buy themselves a nice little property on the Costas. Some are even claiming that not only have they got somewhere for the odd long weekend and family holiday but they are also saying that the value of their little overseas indulgence has been rising nicely and it’s become a healthy little investment too. Several years later we hear that the Joneses have sold their little apartment for double what they paid and have now indulged a big villa with it’s own pool. It’s usually at this point that the unenlightened, having closely watched the Joneses and other Guinea Pigs take the plunge that they feel it would be a good time to buy. Somewhat surprised but undeterred by the fact that the rather large remortgage will buy nothing more that a small studio in a less desirable area, nevertheless, they’ve stood by, been cautious and let everyone else take the risks. What could possibly go wrong if they buy now?

Of course, in the interests of a balanced argument, there are always the stories of the Joneses that bought the apartment that never had a building license, got flattened and lost all their money. That is the risk that the pioneers amongst us take. Unfortunately is usually what makes the cautious sit back and watch everybody else take the risks. As much as we’d never admit it, do we sometimes resent the success of the fortunate? How about admitting or even recognising the self satisfaction that is secretly enjoyed when something goes wrong for the Trail Blazing Joneses? As the expression goes, you can’t have your cake and eat it. You either get in early, take the risks and pat your yourself on the back when it all does very nicely or you wait, watch and join the party just at the end when everybody else is heading home. If only there was another way…

I mean imagine if you could buy something in an area where people had already taken all the risks for you? Imagine if you could buy somewhere that already had an amazing infrastructure, where the budget airlines already flew, where some brave pioneers had already paved a safer path in terms of legal framework? Issues with building licenses and land rights were already resolved? An established area with a steady stream of tourists giving fantastic rental income potential. Imagine all this but unlike most distressed or emerging areas, the banks were going to lend you ALL the money you need to purchase your dream property, You wouldn’t have to risk any of your own hard earned money or remortgage your UK home. Finally imagine that any that prices were some some 50-60% cheaper than they were just a few short years ago. Well you’d bite my hand off would you? You’d at least be interested to see how such a ridiculous notion might look in reality

Of course even if that were all a reality, probably best to wait on the sidelines eh? From there we can safely watch the whole cycle happen again. I mean there’s always next time…



]]> http://www.feltriminternational.com/keeping-el-joneses/feed 0 The Economist claims US housing market is undervalued http://www.feltriminternational.com/economist-claims-us-housing-market-undervalued http://www.feltriminternational.com/economist-claims-us-housing-market-undervalued#comments Fri, 09 Dec 2011 10:52:44 +0000 admin http://www.feltriminternational.com/?p=1152
The Economist claims US housing market is undervalued

According to the latest update of The Economist’s global house price indicators, prices are now falling in eight of the 16 countries in the table, compared with just five in late 2010. In stark contrast however, the report asks “Since American house prices now look cheap, are prices set to rebound?”


Based on the average of two measures of valuation, the first being a price-to-income ratio (a gauge of affordability) and the second of which is a price-to-rent ratio (similar to the price-to-earning ratio used to value companies), it seems that house prices are overvalued some 25% or more in countries including the UK, France and Australia. In fact in four of the countries, it would appear that housing is more overvalued than it was in the US at the peak of its bubble.

With prices having already crashed so severely in the US however, could it be that the housing market is now so significantly undervalued that prices are set to rebound? The report suggest that average house prices in America are 8% undervalued relative to rents and a massive 22% undervalued when compared to income. Prices it seems have reached a floor but is this the first sign of a guaranteed imminent bounce? A bounce? Almost definitely. Imminent? Maybe not.

According to the report, in the UK and Sweden in the mid 90′s prices undershot fair value by some 35% but prices in the UK didn’t really start to rise for some 4 years after they bottomed. The signs that our US partners are seeing suggests that we might not have to wait quite so long, in Florida at least. I am however more than satisfied with the worse case scenario, which seems to be the possibility of a flat period for a year or two. This a small price to pay for getting in on the bottom rung of the ladder. The opportunity to buy a property now that will reward you with a steady 8-9% NET on cash invested and then almost definitely increase in value over the medium to longer term is what our Aussie friends would describe as a ‘No BRAINER’.

If you’re looking for a ‘No Brainer’ of your own then you could do a lot worse that download our report on the Milan Condominiums HERE


]]> http://www.feltriminternational.com/economist-claims-us-housing-market-undervalued/feed 0 Spain is more popular than ever as short haul destinations rule http://www.feltriminternational.com/spain-popular-short-haul-destinations-rule http://www.feltriminternational.com/spain-popular-short-haul-destinations-rule#comments Thu, 08 Dec 2011 11:32:06 +0000 admin http://www.feltriminternational.com/?p=1139
Spain is more popular than ever as short haul destinations rule

According to the latest Q3 Marketplace Report from HomeAway (the holiday rentals specialist), Spain has been the top destination for summer 2011…






In fact more Brits than ever opted for Spain as their top summer destination and recent government figures showed that between July and September this year, visitors to Spain spent a very impressive €19.7 billion, which was an eight per cent increase on 2010 figures.


Whats more, in terms of the number of booking enquiries for breaks in the 3rd quarter of 2011, Malaga Province, which is the heart of the Costa del Sol, with its epicentre in Marbella claimed first place.

Furthermore the report highlighted that a third of families opt for an apartment over a villa, which indicates not only that travelers are more conscious of budget but that apartments are a good investment option for owners. Not only do they cost less and yield higher but apartments are usually much easier and cost effective to maintain. Love or hate the monthly maintenance charges, they at least allow for investors to budget, with no big nasty shock repair bills.

The report went on to show that there is a clear preference towards short haul destinations in general for summer 2011 holidays. In fact 9 out of the top 10 were all short haul. Interestingly the only long haul destination on the list was Florida. You can read our views on Florida in other news.

So what does this news mean for those looking to buy a property in Spain? Well, as we’ve been saying for the past 6 months or so now, Spain and the Marbella region in particular has the underlying fundamentals that property investors should be looking for when purchasing overseas. The property market in Spain WILL bounce back, of that I have NO doubt. Trying to predict when exactly it will be is something best left to the crystal ball merchants. What we can say with confidence is that the market may well have over corrected and we are extremely unlikely to see prices fall any further in popular areas like Marbella and it’s immediate surrounds. One New Years resolution at the top of everybody’s list should be to finally consider that 2nd home you deserve.

Please click HERE to see our range of BELOW MARKET VALUE properties in the Marbella area.


]]> http://www.feltriminternational.com/spain-popular-short-haul-destinations-rule/feed 0 Property in Spain – Has it over corrected? http://www.feltriminternational.com/property-in-spain-has-it-over-corrected http://www.feltriminternational.com/property-in-spain-has-it-over-corrected#comments Wed, 07 Dec 2011 17:48:08 +0000 admin http://www.feltriminternational.com/?p=1129
Property in Spain – Has it over corrected?

Reading the most recent Knight Frank Global House Price Index, one could easily be led to believe that it’s all over for Spanish Property…




Not only was the country ranked 45th of 51 countries featured in the report, prices fell 5.5 per cent between the 3rd quarter of 2010 and the same quarter of 2011.

Being one of life’s optimists however, I was more intrigued by the comment in the report that indicates Spain, as well as the other countries that make up the PIIGS (Portugal, Ireland, Italy, Greece and Spain) acronym may be (as Knight Frank put it) “over the worst”.

What Knight Frank in fact kindly pointed out is, that despite the fact “prices in all five housing markets continued to fall, the pace of decline slowed in all but Portugal”. In fact Spanish property has experienced a decline of just 1.3 per cent in the second and third quarters of 2011.

What I find hardest to understand is why people often don’t see the positive in this. As with the stock markets, investors seem happiest and most confident when the stock market is making new highs. As the sayings go, when the taxi driver tells you you should invest in the stock market it’s probably time to sell your shares. The fact that prices in Spain have been hammered so hard combined with the fact that the decline is slowing is a sure sign for me that the market has reached a critical bottom. Now I’m not suggesting for one minute that if you don’t invest in a property in Spain in the next week you’re going to miss the boat. We wouldn’t insult your intelligence. What we are saying however is there are some good deals out there now. The banks are making it increasingly easy with 107-110 per cent mortgages, no money down deals and prices will NOT go any lower. Surely this in itself is a sign that banks feel prices in certain areas have over corrected!

Of course you can wait another year or two but why bother? The prices are at their lowest, the finance deals at their best and there is plenty of choice for investors. If you’d like my number one recommendation then take a look at Soto Serena, where you can invest from just €3,680 of your own funds for a penthouse apartment just 10 mins from Puerto Banus. ]]> http://www.feltriminternational.com/property-in-spain-has-it-over-corrected/feed 0 Spain enjoys an 8% increase in tourism http://www.feltriminternational.com/spain-enjoys-8-increase-tourism http://www.feltriminternational.com/spain-enjoys-8-increase-tourism#comments Tue, 06 Dec 2011 12:57:40 +0000 admin http://www.feltriminternational.com/?p=1091
Spain enjoys an 8% increase in tourism

There’s no rain in Spain with 8% increase in tourism and positive property sales recorded…




Spain has enjoyed a much improved year in terms of tourism levels welcoming 50.9 million visitors in the first 10 months of 2011, an 8% increase compared with the same period last year. In fact, Spain has shown no signs of slowing down with around 5.1 million arrivals entering the country last month.

October alone saw around 24.7 million overnight stays recorded by hotel establishments across Spain, a 3.2% increase over the same month in 2010 while 52% of all available bed places were filled in October, marking a year-on-year increase of 2.2% according to the latest data from the National Statistics Institute.

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España, comments,

“In spite of the waves of recession and economic hardship, Spain this year has managed to perform well experiencing a record breaking summer. This year has also been positive for Taylor Wimpey España, selling nearly 30 units in the Costa del Sol alone to date, a performance better than last year.

“Last month alone we saw just over 15% of enquiries for Malaga, compared to only 10% for the Balearics and only 8% for Alicante with the biggest buyers remaining our loyal British fans. Our research shows that 53% of all leads derive from British property hunters who also make up at least 28% of Taylor Wimpey España sales.”

Indeed, as a first choice destination for many British travellers, the president of the Tourism Board of the Costa del Sol, Elías Bendodo, has introduced a new brand under the title “Living Costa del Sol”, with the aim of attracting more British tourists and property buyers to Spain.

While the overall aim is to increase property sales to the British market to help boost the economy and to clear the surplus of unsold property, Bendodo believes that the initiative will “convince British tourists to relocate their permanent home to the Costa del Sol, where they can live the dream.” The plan however, also involves promoting the region to German, Scandinavian, Italian and French markets.

Meanwhile,Taylor Wimpey España has their own initiative in place providing potential property buyers the chance to snap up a beautiful VAT free Spanish property until the 31st December 2011.

With just under 5 weeks left, the NO VAT policy assists potential buyers further, allowing them to make significant savings on properties such as La Floresta de la Mairena set near the village of Elviria and its beach, very close to Marbella.

Set in beautiful surroundings which have been declared a natural biosphere reserve by UNESCO, the development benefits from stunning views and affords 2 large communal swimming pools, landscaped gardens and external private parking.

Consisting of 2 bedroom apartments measuring 141 square meters and 3 bedroom penthouses measuring 239 square meters, all units are built to the highest standard with first-class finishes costing from only €178,000 + NO VAT.

]]> http://www.feltriminternational.com/spain-enjoys-8-increase-tourism/feed 0 Lawrence & Lorraine Hamilton http://www.feltriminternational.com/lawrence-lorraine-hamilton http://www.feltriminternational.com/lawrence-lorraine-hamilton#comments Mon, 21 Nov 2011 09:31:18 +0000 admin http://www.feltriminternational.com/?p=935 very happy with this service from the initial first phone call to schedule the appointment to the end inspection by
Dana on the day of Completion. Dana was courteous, very knowledgeable and went the extra mile to make our
transaction run smooth.”

Lawrence & Lorraine Hamilton]]> http://www.feltriminternational.com/lawrence-lorraine-hamilton/feed 0