PROPERTY
TEXT LEAONNE HALL
News
MONTE CARLO OR BUST
Monaco has overtaken London as the most expensive property market in the world. Estate agents Knight Frank have released new data which reveals that prices in area, already famous as a playground for the super-rich, have seen a 30% rise over the past year. Locals blame the massive shortage of property in Monaco for this increase, so elaborate Dubai-style plans are being drawn up for the construction of some man-made land off the coast from Monte Carlo, to be completed in 2017. It should be a real treasure island.
GOLF SCORES
Despite the credit crunch – or maybe even because of it – it seems that growing numbers of Britons still want to move overseas. Three million UK residents are looking into the possibility of investing in property overseas, while many more are considering permanent relocation abroad.
Data collected by Property International reveals that of the 700 British people surveyed, 50% would consider moving overseas because of increasing living costs in the UK. Other contributing factors included better weather and lower crime rates.
Spain remained the most popular destination for British buyers in 2007, accounting for 15% of all international sales. France (14%), Turkey (11%), Bulgaria (6%), Cyprus (6%), Portugal (4%) and Italy (4%) also continue to be popular.
ALL TOGETHER NOW
Over 80,000 Brits already call Cyprus home but many more could decide to relocate there if the proposed reunification of the northern and southern parts of the island goes ahead. Turkish and Cypriot leaders have been meeting to thrash out a plan which could see Cyprus become a unified state once again. The country has so much to offer the average Brit already, with sea, sand and an average 340 days of sunshine a year – not to mention tax breaks and even branches of Marks & Spencer and Debenhams.
GREENER GRASS
Despite seeing its Ryder Cup team lose out on American soil this year, European golf is still a major success story. A recent report from KPMG’s Golf Advisory Practice reveals that golf property brings in almost £15 billion per year, generating more income than all the green fees, sponsorship and membership charges put together. And it seems that buyers are prepared to pay a premium to live just a short chip from the 18th hole – the average purchaser is looking at shelling out up to 30 per cent more for a property in a golf resort. Turkey has recently scored a hole in one by being named the Golf Destination of the Year in Europe for 2008.
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