News updates

Swiss house prices increase as permit rules are set to change

House prices in Switzerland have increased this year by more than 4%, according to figures from the Swiss National Bank.
Single-family homes increased by 4.5% in the year from January 2009, and resale rental apartments rose 4.3%.

A 3-bedroom duplex apartment in Ovronnaz, Canton Valais, Switzerland

Andrew Hawkins, head of international at Chesterton Humberts, believes these increases stem from: “A controlled market where ownership is highly regulated and a corresponding level of supply and demand. Switzerland didn’t have a price boom, unlike markets such as the UK or Spain.
“The continued interest from non-resident foreigners has kept house prices rising at a manageable amount. Also, as the economic crisis hit, locals transferred overseas investments into the more stable local property market, driving prices up at a steady level.”

Foreign property laws
While Switzerland has traditionally been difficult to buy into because of the federal government’s system for issuing permits, from 2010 each canton will have the power to set its own foreign property laws.
“Giving cantons the responsibility for making their own property acquisition rules is a positive for foreign buyers,” says Andrew. “We expect faster transfer times for property titles, making property ownership easier and therefore more desirable, so we expect that prices will continue to steadily increase.”

Fully furnished chalet, Vercorin, Canton Valais, Switzerland

Chesterton Humberts sells a range of property in Switzerland, including:

•    A three-bedroom chalet designed in traditional Swiss style, with modern interiors. This chalet is located in one of the highest spots in Vercorin and offers unparalleled views over the Rhone Valley from Sierre to Sion. The chalet has two terraces, including one with Jacuzzi. Price: CHF 2,000,000 (approx. UK£ 1,118,637).

For more information, call: Chesterton Humberts – Tel: 020 3040 8210 or on-line at: www.chestertonhumberts.com

Post Office launches new international bank to bank money transfers

Transferring money between UK and overseas bank accounts is set to become significantly easier following the launch of the new Post Office® Overseas Property Money Transfer service.

The new service offers customers peace of mind by enabling them to fix at a favourable rate of exchange for up to a year, giving valuable protection against volatile currency fluctuations. And because the Post Office offers this service online, people can transfer money from the comfort of their own home to wherever they need it to be in the world.

Anyone needing to transfer money to an overseas bank account can benefit from the service. It’s ideal for:
•    Repayments on a foreign mortgage
•    Deposits or costs associated with buying, selling or maintaining a property abroad and paying utility bills
•    Bringing money back to the UK after sale of an overseas property
•    One off payments such as a wedding venue or emigration
•    Regular payments – transfer pensions, salaries or even school fees, removing the hassle and expense of frequent individual transactions from a bank.

The Post Office Overseas Property Money Transfer service offers competitive exchange rates, with 0 per cent commission and no hidden charges, plus it will reimburse customers for any charges that the destination bank may impose, meaning that customers can expect to save hundreds of pounds a year*.

Buying in bulk

Sarah Munro, Post Office head of money transfers, said: “Until now, many users of international bank to bank money transfer services have found it to be an expensive business, with limited options for small transfers.  They have often been unable to capitalise on the great rates offered by currency specialists because they weren’t buying in bulk.  And they were also at the mercy of volatile currency markets, making it harder to get the most from their money.

“The Post Office Overseas Property Money Transfer service offers customers the ability to fix at a competitive exchange rate, giving them peace of mind for up to a year, which is a real advantage in current markets.  We calculate that with 0% commission and our competitive exchange rates we will be saving customers a serious amount of money if they’ve just sold their house or are paying a deposit on a new property.”

For anyone wanting to make a cash money transfer abroad, the Post Office still provides the MoneyGram service. This offers cash transfers to over 176,000 destinations worldwide from any one of 11,500 Post Office branches.

Anyone wanting to find out more about Post Office Overseas Property Money Transfer should go to www.postoffice.co.uk/moneytransfers or by calling 0800 180 4702. Transfers must be a minimum of £500 and are limited to £10,000 online. There’s no transaction limit for transfers made over the telephone. The Post Office Overseas Property Money Transfer service is provided by HiFX PLC.

Based on a monthly transfer of £700 over a year customers could save £528 by going to the Post Office:
High Street Bank
Monthly Transfer fee £30 = £360.00
Post Office
No charge

High Street Bank
Commission 1.5% = £126.00
Post Office
No commission

High Street Bank
Receiving charges up to 0.5% = £42.00
Post Office
No charge

High Street Bank
Total bank charges £44.00 = £528.00
Post Office
Free

Golf fanatics flock to Turkey

Turkey provides some of the newest and most exciting courses, many being championship level and most within easy reach of each other. Golfers have realised the tremendous benefit of 300 days of sunshine a year with the average temperature even in December, of 16 degrees centigrade.

Now the European Challenge tour will be played in Turkey in 2010 at the Carya Golf Club which was established in 2008 and in Belek the World Amateur Golf Championship is to be held in 2012.

Turkey was awarded “Best Golf Destination in Europe 2008” by the International Association of Golf Tour Operators (IAGTO) putting Turkey ahead of other European golf hotspots including Spain and Scotland. “This is largely due to Belek, the home of championship golf in Turkey”, says Robert Nixon, executive director, Nirvana International. “This is a beautiful region enhanced with beautifully maintained, top quality golf courses, making it a golfer’s paradise”.

Ideal for renting

Taking Belek as a prime example of golf courses available, there’s the Tat Golf Club, The Gloria Golf Resort, The Robinson Club, Nobilis, Cornelia Nick Faldo course and Papillon Golf course which is a new Colin Montgomerie Golf Course. In addition there is Kaya Eagles Golf club and Lykia Links Golf and of course the National Golf Course.

NIRVANA golf 7 Gem Golf Villas

It’s worthwhile considering the possibility of owning a property there. You could buy as part of a syndicate or for personal use and of course, such a property in a prime location is ideal for renting when not in personal use.

Belek is an ideal spot for relaxation and is famed for its pine trees which fill the air with a glorious scent with plenty to do including yachting, windsurfing, scuba diving, walking, bird watching and exploring the area’s rich history. The mountains too are easily reached and there is even the opportunity to go skiing 120km away at Saklikent Ski Resort.  There are also some superb beaches dotted along this coastline.

Currently being offered is an exclusive development of brand new homes at Gem Golf Villas in Belek located in the heart of championship golf in Turkey and just 500 metres from the National Golf Club and close to the Sueno Golf Club.

Year round flights

There’s a choice of two different house types (Villa A and B) all immaculately presented and built to a high standard. Villa A has a slightly bigger floor area than Villa B. 14 of the villas are offered with a shared pool with seven of the homes having private pool and parking. The development is surrounded by attractive landscaped grounds. There is 24-hour security on site and Gem Golf Villas is close to Belek beach, mini market and shopping mall. Belek town is 2 km from the resort and offers many shops and restaurants. Antalya is 30 minutes drive. There is a shuttle bus service for transfer to golf courses, beach or Belek town centre. Antalya Airport, which provides all year round flights to and from the UK, is just 25 minutes drive away and transfers are provided.

Gem Golf Villas, Belek.

Prices

Detached villas with four bedrooms and two bathrooms (1 en-suite)

Type A – some with private pool start from £200,000

Type B – villas with shared pool start from £180,000

Contact Nirvana International on: 01189 744 950/955 or at www.nirvanainternational.com

Nirvana International is a member of AIPP and NAEA International incorporating FOPDAC.