Developers respond to currency fluctuations
The desire by Fly to let investors to own properties in the sun has not subsided but for those considering purchasing overseas, especially within the euro zone, concerns over currency fluctuations are making some think twice.

The pound’s weak performance against the euro over the last few months has forced property developers to review their offerings and many are now giving potential property buyers access to attractive finance deals.

On Sal Island in the Cape Verde archipelago for example the 5 star Dunas Beach Resort and Spa and Tortuga Beach Resorts have the euro rate fixed at 1.5 to the pound, resulting in obvious discounts and also stability when it comes to the strength of the euro.

Adrian Lillywhite, MD of specialist agents Cape Verde Property Ltd, said: “A large 2 bed, 2 bathroom apartment with air conditioning, free legal services and furniture pack in one of these 5 star gated communities can now be purchased from a fixed rate of £98,633, giving a saving of over 16 percent.

“This short term offer has been extremely popular and has made buying overseas affordable once more in today’s economic climate.”

Download Turkish property guide for free
A guide to buying and owning property in Turkey, Buying In Turkey, is now available free online as a PDF download.

First published in 2005 and updated annually, the 138-page guide contains information and advice on the Turkish economy and property market; legal advice from a Turkish property lawyer and a step-by-step guide to the buying process and purchase costs.

The guide also lists 17 of the most popular areas to buy and their local attractions and facilities, property prices and an assessment of the rental potential in each.
A NatWest survey of mortgage lenders published in March this year, predicted that Turkey would be the third most popular destination for British buyers in the next three years.

No interest payments at Egyptian five star resort
Overseas property investors and fly to let landlords could be tempted into Egypt by a purchase package being offered at the five star Paradise Gardens Golf and Beach Resort in Sahl Hasheesh, a Red Sea megaresort.

Purchasers invest only 50 percent up until exchange of contract and then on completion in 2010 can pay the outstanding 50 percent of the property price over 3 years with no interest at all.

Prices start at £43,000 which means in real terms this means that a one bedroom apartment can be bought with less than £28,000 paid now and the remainder can be paid between 2010 to 2013, with no interest rate hikes to worry about.

Tahir Ali MD of Egypt Revealed, the International Marketing Agency for Paradise Gardens Golf and Beach Resort, said: "It is really heartening to see a project in a developing market with such a fantastic payment plan.”

Property on the Red Sea Riviera enjoys a year round rental opportunity, a healthy economy and a growing tourist numbers.

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