Britons snap up holiday homes

Sean Poulter, Daily Mail

THE number of families with a second home has surged by 40% in a decade - with the main boom seen in purchases overseas.

Some 393,000 Britons now have a second property, up from around 280,000 ten years ago.

The figures reveal a huge increase in the desire for a holiday home abroad. Foreign purchases rose 85% over the period - up from 89,000 to 165,000.

The total for second homes in Britain went up by a more modest 37,000 - 20% - to 228,000. Abroad, Spain is the most popular place for Britons to buy, ahead of France, Portugal and Italy. The US, particularly Florida, is also becoming popular.

The figures came from the Nationwide building society, which suggested second homes were often bought in a place that had been a favourite holiday destination. It said second-home hotspots in the UK, from idyllic villages to the Lake District and seaside resorts, have generally seen higher than average house price rises.

The society added: 'Whilst overseas holidays are popular, there is something for everyone within and around our shores. This has encouraged many to holiday here and even reach for a second home in their favourite part of the country.'

It pointed to recent research from Surrey University showing several UK beaches on the list of the world's best. St Ives in Cornwall came fourth, above Rio de Janeiro's Copacabana, while St David's, on the Pembrokeshire coast, was placed 18th, ahead of many Caribbean beaches.

In the UK, the South-West has 22% of second homes, some 19% are in the South-East and a further 20% are spread across the North-East, North-West, Yorkshire and Humberside.

Nationwide said there is an increasing number of second homes in cities. This suggests families are opting to have their main home in a cheaper area with good schools and a better quality of life, coupled with a city 'crash pad'.

The phenomenon of buying a second home overseas has been fuelled by TV programmes such as Channel 4's A Place in the Sun suggesting that fantastic properties can be bought at prices which are low by British standards.

Properties needing refurbishment, but with a good amount of land, can be bought in Spain and France for as little as £50,000-£60,000.

For £170,000, it is possible to get a three-bedroom property with two bathrooms, roof terraces and sea views on Spain's Costa Blanca. A similar budget would buy a home with four bedrooms, three bathrooms, a games room and a heated pool at Hampton Lakes in the Davenport region of Orlando, Florida.

The boom in low-cost airlines flying to regional European airports has also contributed to the second-home rush, driving up property prices around these hubs.

Many buyers are turning to second homes as an investment as well as an opportunity to escape. The poor performance of the stock market has seen people switching to property both in this country and overseas to build a nest egg.

Some 40% of all new homes built on the Spanish Costas last year went to British buyers. The clamour for properties has driven up prices by 20% and more. A similar pattern has been seen in France, particularly in towns close to the airports serviced by budget airlines.

PETER Jacob and his wife Caroline bought their second home on Spain's Costa Calida for less than £69,000 in December 1999.

The detached four-bedroom villa, which has a swimming pool, has more than doubled in value since then. But a similar-sized holiday home in Britain would still cost considerably more.

Mr Jacob, a 55-year-old estate agent, and his wife, from Chelmsford, Essex, say they have never been happier since buying the house in Mazarron. Mrs Jacob, 53, said: 'We live half an hour from Stansted airport and Mazarron is an hour from both Murcia airport and Alicante.

'We go out about six times a year but we also let friends and family use it. It is like a home from home. We have the best time with our children and grandchildren.

'We go to the beach in the day, but in the evening we sit around the pool and have a barbecue. Peter is still a workaholic when in the UK, but when we are in Spain he's a different person.'

She added: 'Buying the property was a very easy process. We were recommended a local Swedish lawyer who spoke excellent English and Spanish and she helped us.'  

For more information: Hiperprop News

Sunset for Spanish property dreams

BBC News

A staggering 500 people a day leave the UK in search of a new beginning abroad, the majority choosing Spain for what they hope will be cheaper property and a better life.

But for some, the dream turns sour. BBC One's Real Story met one couple who sank their life savings into land which turned out to be worthless.

Alan and Jane Brian sold their home in Buckinghamshire, left their jobs and flew to Pedrera, north of Malaga, to set up a business.

They paid 114, 000 euros (£78,889) for two acres of barren wasteland where they planned to build an upmarket caravan park. Their target clients were those looking to experience the real Spain rather than an English resort in the sun.

An environmental man told us, 'Your house.....is illegal

"We were planning to have orange and lemon trees so that people could come and pick their own," said Brian.

"We got the chickens so that they could come and buy the eggs."

But cracks started to appear in their plans shortly after they had agreed to pay 78,000 euros (£53,976) to a builder for a new house on the land.

Local police visited to request planning permission papers - but the builders assured the Brians that everything was fine so they paid 68,000 euros (£47,054) for the work done so far.

They were not given receipts or proof of planning permission.

High speed train

Just as the cement was drying, they discovered their new house was partly built on someone else's land - and the owners wanted it back.

Faced with having to demolish a metre of the house or pay the money, they agreed instead to give up some of their land as compensation.

But the battle was not over. The new property was also built on the access road to a neighbouring olive grove to which four people had right of way. Passing tractors scraped the Brians' pool.

I think the major difficulty people have stems from not doing their homework before they come out

Meanwhile, a new high speed train line was being built just over the brow of the hill.

Then, after heavy rainfall, it suddenly became clear there was no chance of the house ever getting planning permission. It was built on a flood plain. "An environmental man told us, 'Your house is too close to the river - it is illegal,'" recalled Alan.

"We were told the river does burst its banks and has been as high as 3 to 4 foot - which is just under the windowsills of the house."

The Brians' story is a suprisingly common one in Southern Spain. According to the Head of Municipal Communities of Costa Del Sol, Juan Sanchez, as many as 50,000 illegal homes have been built there in recent years by developers or individuals who have not sought permission.

The British consul in Alicante, Russell Thompson, has 150 active cases where people have been conned or have not complied with Spanish law. "I think the major difficulty people have stems from not doing their homework before they come out. "We have a very good website and there are others available. People have no excuse for not doing their homework."

Prosecution warning

In Spain, it is up to the homeowner to ask the town hall if a problem exists.

The Mayor of Pedrera told Real Story that the Brains' builder was respected locally - and that it was up to them to check for planning permission.

The advice, says Alan, has come too late.

"We're told that we can be prosecuted and told to leave because the site isn't suitable for a permanent dwelling.

"So the land that we've spent our life savings on is now a complete farce."

For more information: http://news.bbc.co.uk/2/hi/programmes/real_story/4131534.stm

Avoid the pitfalls and buy only through IN accredited agents such as Hiperprop

Property of the month...

Mijas Golf Villa - MLSV101001

View more pictures on our website

Tel: (+34) 952 587 211 email: info@hiperprop.com

Mortgages available for non-residents (rates at 2.95%)

Out and about...

Event info supplied by

17 August, 2005	Dance: Tango	Telephone : 952 825 035 Parque de la Constitución Marbella Tickets Entrance is 18 euros. Producciones Artisticas Lastra presents a new show with five dance couples interpreting both classical and modern tango. The show is at the auditorium of the Parque de la Constitución at 10.30pm.
24 August, 2005	Jazz festival	Telephone : 952 802 002 Plaza del Reloj, Estepona Estepona is staging a Summer Jazz Festival in the Plaza del Reloj, every night at 10pm, with performances from the Joaquín Castellano Quartet on Thursday, the Kiko Aguado Quintet on Friday and the Franc O’Shea Group on Saturday.
31 August, 2005	Art exhibition	Telephone : 952 902 714 Cortijo Miraflores Marbella "Etnia gitana" is the title of an exhibition by Ramon Zabalais on show in the art gallery in the Cortijo Miraflores. Entrance to the museum is from the calle Jose Luis Morales y Marin and calle San Pedro Alcantara (Avenida del Trapiche) is free. Open Tuesday to Saturday from 11.00 to 14.00 and from 18.00 to 21.00.
27 August, 2005	Flamenco	Telephone : 952 825 035 Parque de la Constitución Estepona Tickets Entrance 10 euros. A gala flamenco workshop performed by the San Pedro Alcántara Peña is taking place at the auditorium of the Parque de la Constitución at 10pm.

Find events, rentals, hotels, jobs and more at www.guide2marbella.com

Icelandic tycoons invest in Spain

Iceland's highest paid CEO, Robert Wessman of Actavis, and Iceland's first dollar billionaire, Björgólfur Thor Björgólfsson, have jointly invested in a two million square meter property in the vicinity of Murica on the coast of southeastern Spain.

Morgunbladid reports that the value of the land is ISK 8 billion (USD 125). There they plan to build vacation homes for affluent individuals.

The owners plan to build a hotel, 2500 apartments and houses as well as sports facilities, golf courses and an outdoor area on the lot. According to Morgunbladid the investors are working closely with the government and advisers in Spain. The Spanish property specialist IREA and London-based architect firm RTKL are the main advisers.

A holding company, AB Capital, has been formed around the project. Investment company Burdaras, of which Björgólfur Thor is chairman, owns 20% of AB Capital while Björgólfur and Robert own the remaining 80%. Debt finacing was provided by Íslandsbanki, Straumur Investment Bank and Landsbankinn. Thor Kristjansson is the chairman of AB Capital. According to Morgunbladid the building project will cost ISK 9.5 billion.

Robert Wessman is the CEO of generic drug company Actavis.

Des O'Connor Saved my life!

Sunday Mail (Scotland)

Des does a Hasselhoff!!

CHAT show host Des O' Connor rescued a drowning Scots holidaymaker who had fallen into the sea in Spain.

The tipsy tourist was stunned when he realised it was the veteran crooner dragging him to safety at Puerto Banus harbour.

Des, 73, who was looking at properties in the Marbella area, had left a bar with PR guru pal Max Clifford when they heard cries for help.

The pair rushed to the aid of the man, who was in his 40s, hauling him to shore.

Last night, Des said that as the man was about to thank them, he looked upand exclaimed: ' You're Des O' Connor!' After drying off, the Scot - who said his name was Billy - added: 'My pals are never going to believe THIS.'

Des said: 'There was nothing remotely heroic about it.'

Des and Max left the resort's trendy piano bar The Edge at 3am and heard cries from the waterfront. Max said' There was this guy, clinging onto a boat, screaming that he couldn't swim. We grabbed a life buoy and threw it to him.

' He'd have been in real trouble if we hadn't come along.'

The end bit

And you thought Bill's gaff was nice?

Last month we showed you Bill Gates' nice little semi. But we've since found out that the most expensive property on the world market is in the UK.

Price: $122.2 million
Location: Windlesham, England

Your blood may not run blue, but with enough green you can still live near—and like—royalty. Updown Court is currently the most expensive residence in the world, costing about $50 million more than the priciest U.S. home. The brand-new property is totally over the top, with 103 rooms, five swimming pools and 24-carat-gold leafing on the study's mosaic floor. There's a squash court, bowling alley, tennis court, 50-seat screening room, heated marble driveway and helipad. All eight of your limousines will fit in the underground garage. Then there are the neighbors, who include the queen (at Windsor Castle) and Elton John. It is listed with Savills and Hamptons International.

Check out the world's most expensive homes: http://moneycentral.msn.com/content/invest/forbes/P125238.asp

The worst albums in the world...ever!

John Firth, champion tat-finder has sent us these wonderful examples of actual album covers.

Google Earth

Want the latest properties straight to your inbox?

Hiperprop Property Alerts

Want the latest Spanish Property News?

Hiperprop News