Summer Properties

Now that summer is approaching you may have already booked your holidays in Spain, but have you ever been curious about purchasing a property in Sitges, Ibiza or Gran Canaria?
This sought after destinations offer everything you may possible ask for from your holidays, sea, sun, great restaurants, shopping and clubbing, and you may have pictured yourself owning a pied a terre where you can escape your busy city life on a wet friday afternoon, arriving to the warm weather just in time to eat your alfresco dinner in a terrace by the sea.
This are our suggestions. Sitges, only 1 h 30mins flight to Barcelona airport with a 30mins train to the center of this lovely town, has become one of the most sought after suburbs in the area and prices are accordingly high, purchasing a 1 bed apartment with balcony and nice town and sea views like the above will set you up at £235,000 (260,000 euros), whereas villas outside the centre can reach millions. Sitges is lively all year round, and it's easy access to Barcelona allows to combine a big city living with a relaxed village feeling when you are back to Sitges, you can also find a large number elegant boutiques and restaurants so you will never get bored!


Only 2 hours flight from London and you arrive to Ibiza, the white Island, what can be said that has not been said about it, a place with beautiful beaches and rural charm, it has been popular for the rich and famous since the 70's and it is still at the top of the summer destinations worldwide. Its mix of bohemian, hedonistic and tolerant atmosphere has attracted many artists, and it is also home to the best clubs and parties in the world. An ever popular summer destination, has also been hit by the Spanish property crisis, and now you can find a newish 1 bed with communal swimming pool (picture above) at playa d'en Bossa with the infamous Space at the door, for just £120,000, funny enough, the high end of the market with 4 bed villas ranging from £1mio, has been largely unaffected.
Fun summers are guaranteed, and you can also get a tidy return if you rent the flat when you are not there, but be warned, in winter the Island is pretty much dead and most of the amenities closed, so you may want to keep that in mind if you are thinking of investing in the Island.

Gran Canaria, maybe a bit less known for our readers than the previous two, being only 4 hours flight from Heathrow, benefits from a wonderful sunny weather all year round, which means that in january you won't need to board a 10 hour flight to the Caribbean to get your tan. The south of the Island is very popular with Brits and Germans and in Playa del Ingles you can find the ever popular Maspalomas Beach with its 'dunes'. Entertainment lacks the sophistication of Ibiza or Sitges, but prices are also more friendly to your wallet, you will be able to purchase a 1 bed bungalow with your own garden for about £90,000 and if you wish to rent it out, you can get an excellent return of around 7%.

Something to think about this summer...

Mortgage lenders 'harming new homes market'

The below article has been published by the property portal zoopla.
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The UK's new homes market is being negatively impacted by mortgage lenders who are holding back from providing good deals to buyers, according to one expert on the subject.

Vernon Pethard, managing director at NewHomesforSale, said that the market is being affected by "fragile confidence" and "general discrimination", which is leading to a restriction in overall price growth for new builds.

His comments follow the publication of research by SmartNewHomes, which revealed that the average price of a new property fell by 0.4 per cent in March to £218,344. Annually, growth in the price of new homes was one per cent last month.

Mr Pethard said that the "prudent attitude" adopted by many lenders is "not helping matters" for potential homeowners.

He added: "Lenders generally discriminate against new-build homes, by unjustifiably offering lower loan-to-value mortgages on brand new properties compared to re-sales, making it harder for many prospective buyers to purchase a new home, which holds back demand."

The expert said that this is in spite of the fact that many new homes do not necessarily command a "premium" in price, and are also far more energy efficient on average and cheaper to run overall than the majority of older properties.

OUTLET launching Penthouses and Lofts

We’re proud to say we’ve helped thousands of customers find their ideal home over the last 15 years. Being based in Soho, and having many clients who work in the arts, fashion and media businesses (and other cool professions), we have seen an increasing demand for unique properties - quirky conversions, lofts, penthouses and flats with the WOW factor.
Our clients demand more and more; spacious entertaining spaces, striking views, double height ceilings, industrial features or ultra-modern kitchens and bathrooms. So, to help meet demand for these special properties, we will soon be launching a new, very special, service.
More news after Easter!

Ultra modern design apartments for sale in Miami

I have been recently surprised to see that even in places like Miami, consiedered the ground zero of the property crisis, new initiatives to revitalize the market are being invented.
The Mondrian hotel and apartments is a very exciting example of a tired block from the 70's completely revamped by Morgans Hotels (owners of the Saunderson and St Martin's Lane amongst others) who allegedly spent $400 million on it, and turned into supertrendy destination for holidaymakers and property owners.
The Philosophy is simple but effective. Cutting edge design and luxury services for a building that otherwise would be just plain and boring.
The all-white pool area is just amazingly designed in the very South Beach style and definitely makes you feel like you are in Miami, stunning ladies in high heels (some of them models, others not...), media types and in general elegant people hanging around acoompanied with great music in the background, make for a exciting atmosphere throughout the complex.
Well, an the best news, selling prices have come down 50% if you wish to purchase one of the apartments. Prices start at a mere £200k for a 500sq ft apartment, bargain! Service charges are high though, around £7k per annum, but you get top notch services including gym, beauty saloon, the incredible pool service with the kindest ever waiters, and most importantly, the membership card of Morgan's hotels with access to the most exclusive celebrity events and parties all over the world.
Lastly, if you are not there all the time and wish to leave your flat to the management of the hotel, they will rent it for you, at a mere $300 per night and participate you around 40-60% depending on the lease options that you choose.
Contact me at Outlet on 0207 287 4244 if you wish to learn more!!

More sellers on the market in February

With lost of new stock coming onto our books, in Outlet we are starting to feel that the market is waking up from a lethargic winter for property sales.

After some quiet months, we now see competition for the flats in the new block we are marketing in Long Acre at very premium prices, and even properties that did not attract much attention during the winter are going quickly under offer.

Also, an increased number of sales agreed over the last 8 weeks shows a much more active market pointing to a spring with lots of transactions.

The UK housing market in February saw a jump in the number of people putting their house up for sale, according to estate agents.

The National Association of Estate Agent’s (NAEA) market report for February shows a year-on-year rise of 25 per cent in the level of available housing stock.

The number of house hunters registering with an agent across the country also rose to 268 reported in February compared with 252 in January per branch – the highest level for seven months.

Sales increased across the property market in February, growing from an average of 6 to 8 per branch month on month, despite continuing consumer concern regarding interest rate rises.

The percentage of sales made to first time buyers also increased slightly from 24 per cent in January to 25 per cent in February.

NAEA President Michael Jones said:

“To see such a significant boost in activity amongst sellers compared with this time last year is encouraging news for the UK property market. The signs are that they are being more realistic about the price they can expect to achieve when they put their house on the market. This means that, on the whole, supply can meet demand levels, meaning a more stable market, for the short term at least.

“However, the picture is still very variable across the UK with agents reporting much higher growth in enquiries and stock availability in some regions than others. Undoubtedly, broader economic constraints on spending continue to impact on consumer confidence, especially at a First Time Buyer level, and the effect of the public sector cuts has yet to be fully felt. With limited mortgage availability and the concern about a likely rise in interest rates still putting off many of the people who otherwise would be looking to buy, it is important that the government does everything it can to encourage growth at this crucial stage of the recovery process.”

London Homeowners optimistic about their property values

While at Outlet we are seeing our january sales applicants increase a 46% vs last year, a recent poll has revealed that homeowners are upbeat about London’s property market for 2011.

85 percent of those questioned indicated that they thought their property would be worth more by the end of the year, than its current market value. The remaining 15 percent stated that they didn’t believe their house would be valued at a higher price.

Commenting on the findings, William Davies, managing director of property maintenance and refurbishment company, Aspect who conducted the survey, said:

“The UK property sector has been through a very tough period, and it is encouraging to see that homeowners are beginning to feel upbeat about the value of their properties. Only time will tell how the market will fare over the year ahead.

“Whether they are planning to sell, or to stay put – London’s homeowners should prioritise keeping their properties in good working order; paying attention to key areas, such as the roof, brickwork and drains. Keeping your property in tip-top condition will not only save money in the long-term, but will also help to maintain its value, should you choose to sell.”

Buyers anxious to beat the bonus money rush (article by propertytalk live)

Homebuyers in Central London are moving quickly to find and secure properties before bonus buyers hit the market and competition for the best quality property heightens.

There has been a flurry of activity during the first two weeks of January, as buyers who started to look at the end of last year return to the market, keen to secure a home before cash-rich bankers are in a position to proceed with purchases.

According to Cluttons values of quality property in prime Central London continue to perform well, ensuring it remains an attractive, relatively low-risk investment during the downturn.

James Hyman, Partner for Residential Sales at property consultants Cluttons, said:

"It looks like big bonuses will be paid this year despite the Government's failed attempts to intervene in the case of the state owned banks. Bankers are already starting to look for property ahead of their bonuses being paid, and buyers know it will only be a few weeks before this cash starts flooding into the market, creating fiercer competition and forcing sales to sealed bids.

"The first quarter of this year will offer the best window of opportunity for sellers, as buyers spending upwards of £1million will be keen to avoid the additional 1% rise in stamp duty tax coming into force in April, which will take their stamp duty bill to 5%. The limited amount of property for sale also presents excellent opportunities for sellers over the next few months."

New Year, New resolutions, more property

Happy New Year to those following this blog! It has been a difficult end of 2010 for the London property market, but thankfully the year is over, and it looks like more and more people are looking ahead now with optimism.

Despite the budget cuts that will start biting this year and the increase in interest rates that we will see for sure, the real economy is rebalancing and businesses in London seem to think that 2011 will be still difficult, but better thant 2010.

We are seeing increases of about 15% on our available stock of property for Sale at Outlet, enquiries are still weak but it looks like more buyers are ready to proceed with their purchasers after months and months of looking around.

Overseas buyers are still very active, and we expect that the goverment will be able to persuade the big banks to lend more money this year, easing the credit conditins.

Also, it looks like city bonuses will account again for around £7 billion this year in the City, many of those will go to purchase property.

Well, the year has just started, but I can't wait to see what's coming...