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| Greece Buying Guide Newsletter |
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| Hello there – and how are you?
I cannot describe the feeling of utter relaxation drifting along the river at an average speed of something like 3mph. There is a tremendous camaraderie amongst the people who ply the river and we made many new friends as we drifted along. This is a photo taken at Shiplake Lock – we went through about five locks on our trip. I couldn’t believe how unspoilt and rural the English countryside still is, viewed from the water. Mid-afternoon we moored the boat and clambered
up the bank to enjoy the best tasting roast chicken and On an earlier trip Jane (the owner of the
boat) and two crew mates had taken a 1,000-mile (1,600km) tour of England's
canals, passing through about 600 locks – what an experience that
must have been. Right – enough about me. I can’t remember the film but I always chuckle when I say this: in the film the girl goes on to say:” What do you think about the dress I am wearing…?”!! Before I go any further with my newsletter, I have to tell you about something that I think you'll find extremely interesting. Kim recently wrote a small guide about UK pensions...It's about what can be done about increasing the income one gets, eliminating or reducing the tax one pays and effectively ensuring that beneficiaries get ALL of the funds upon death rather than just a percentage (plus more...). I don't want to steal Kim's thunder - to get access to the special guide (at no cost), please send a blank email to the following address and you'll immediately get a return email with the report: kim32-443706@autocontactor.com. Anyone that has moved abroad or is thinking about moving should definitely read this report. (please note to check your junk email if you don't receive a response from Kim in 5 minutes...it's automatic). On to the rest of my newsletter: I am going to chat about where to buy property in Greece, let you into currency secrets with a case study, I show you a lovely property on Crete, and then – believe it or not, talk about how YOU may be able to get a tax rebate! Then there’s a bit about our wonderful Greece Property Buying Guide, I share a great offer from my favourite booking website, answer a burning question about land ownership and discuss buying property in Greece on auction before ending this month’s newsletter. Enjoy – Karolina! |
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Mamma Mia!The PropertyIndex.com revealed that in recent months it has seen a 120 per cent increase in the number of enquiries relating to Greek property. This, believe it or not, is considered to be down to Mamma Mia, which is said to have "captivated" British buyers. Without wanting to sound like a churlish so and so, am I the only person who thinks that this was one of the most inane movies ever, with Piers Brosnan AND Meryl Streep making total idiots of themselves?!! Be that as it may, I happen to be personally familiar with both Corfu and Skopolos, where it was filmed, and in my humble opinion Greece was by far and away the star of the show! A property expert we at the Guides Company personally know very well is quoted as saying that the Greek islands have that classic appeal and, since Mamma Mia, it’s particularly resonating with American buyers now. He also adds that, after a slow 2008, he is seeing the market pick up, particularly among British buyers, especially those buying at the top end of the market. Thing is, if this is so - and I believe it is - then it means that the Greek property market is on the rise again and this can only be good for the market, in all price ranges. But it would be a good idea to buy now, before the prices really start their upward move. I would add a word of caution however: you need to buy in areas of easy access. This will mean that people will always want to holiday or live there. After all, if you are thinking of actually relocating yourself, you will want friends and family to visit and frankly, in these busy times, the easier it is to reach you the more often they are likely to do just that. And the same applies if you want to let the property – the easier it is to get to, the easier it will be to rent out. Here are a few places that are recommended for that very reason: Corfu Rhodes Santorini This is the archetypal Greek island, with lovely white Cycladic villages clinging to the volcanic hillside overlooking the huge caldera (the large crater caused by a volcanic eruption in about 1630 BC that formed this watery view where once had been land). There are two Blue Flag beaches on the island : Kamari and Perissa. Access to the island is easy via or EasyJet and Thomsonfly. Crete This is just a very brief outline –
please don’t hesitate to call me if you want to chat about this
or share your thoughts. The number is 0207 898 0549 and I always love
to talk about Greece! If you want to give me your specs on what you
are looking for property-wise you could fill in the short form at: |
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Currency: How a Guide Reader saved by being SmartPlease, what ever you do, remember that you will save money – and sometimes quite a huge sum – if you transfer your funds abroad through a currency company (such as Smart Currency) rather than your high street bank. Have a look at this case study that I put together and see what you think:
Over the years Ken and Sarah Smith have been to just about all the Greek islands. They spent numerous holidays there and had always liked Greece and the Greek people. However, it was while holidaying at a neighbour’s home on Kefalonia that it occurred to them to actually build their own home on the lovely island. “I had retired, and we decided that if we didn’t do something about it now, we never would” recalls Ken. “Sarah is still working, but we wanted a holiday home, with the intention of staying for longer periods as we get older. I had the time to put into the project, so we bought a plot in Katelios and hired a local builder.” The first payment on the new property was a deposit of €37,000 which Ken did through their local high street bank, and found it massively expensive. “I sent the money through the bank and found it hard to believe the amount they charged for the process” says Ken. “It was only on hearing about Smart Currency from Sarah, information that she picked up on reading the Greece Property Buying Guide, that I first learnt about currency companies and what they do. Needless to say, once introduced to this money-saving way to ensure the best rates, I have used them ever since.” Ken recalls: “There were more stage payments to come for the off-plan property: €13,000 for the first stage then 3 tranches of €60,000 and then finally a completion payment of €2,000. After my initial money transfer, the follow up at the currency company was excellent. I spoke to various individuals, all of whom were friendly and to the point. All my initial concerns were answered and I found the actual process extremely easy. They talked me through the whole process, even advising on the wisdom of ‘forward buying’ – locking the currency in at that day’s rate for a time in the future.” “We will have saved hundreds of pounds by the time the building is completed. This plus I plan to transfer some funds into a Greek saving account on an ongoing basis. Also I am kept updated on currency trends” adds Ken. “Once I realised that not every organisation charged the same rate I started watching the rates” he says. “I am, by my own admission, a ‘tight git’. But now, with the passage of time, trust has been established and I don’t bother to compare rates. I won't change now. Follow up is excellent and the educational reports I receive are of enormous value.” This really brings to light the importance
of using not only a currency company, but the right currency company
– one where you get a really proactive service. As soon as you
know that you’re going to send money overseas, contact Smart Currency
Exchange. To read the latest market information on Sterling and the Euro go to: http://www.GreeceBuyingGuide.com/Currency230709.htm Why
overseas property buyers lose money... This 10-page educational report outlines:
And just a couple remarks about the report from our readers...
To get a copy of the report at no charge go to: http://www.smartcurrencyexchange.com/freereport.htm To get a Better-than-Bank
rate go to: http://www.smartCurrencyExchange.com/smartsquotation.htm
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Falcon Hills Property
Falcon Hills comprises 39 detached or semi-detached villas with magnificent sea views to the Cretan Archipelago and the green hills of the area. The size of the houses varies from 66 m2 to 105 m2. Each house will have two parking places, a communal or private swimming pool, fully landscaped gardens, a heating system, air conditioning and will be furnished. There are outstanding finance terms for you to consider; this could prove a really good investment opportunity while at the same time providing you with a holiday home. The Rethymno prefecture, where the development is located, is the 3rd largest on the island - the area in general is becoming more and more popular with expatriates buying a holiday home or taking up permanent residence on the island. It is situated in the traditional village of Filaki, minutes from the stunning Lake Kournas(under 4km), and the sandy beaches of Georgioupoli (also under 4km). Georgioupolis also offers restaurants, tavernas, coffee shops and shops as well as numerous hotels. Interested? Give me a call on 0207 898 0549 and we can chat. Or if you would prefer, just fill the form and I will call you. Go to: |
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A rebate on tax – can it be true?!I picked up an article in the Financial Mail recently that I thought may be of interest to you. It drew attention to the fact that anyone who has paid capital gains tax on the sale of a European property, or has failed to cover their costs when letting out a property, could now receive a rebate on tax paid in the last five years. Needless to say, the cynic in me saw this as an opportunity for the government to find out exactly who is receiving taxable rental…but hey, this may be a genuine window of opportunity for some investors! Evidently the tax break is an attempt by the government to bring the rules for European holiday homes into line with those for second homes in the UK. The fact that these benefits were allowed on second homes in the UK and not in the rest of Europe has been seen as a contravention of European law. Of course, the upshot is that this benefit is to be removed next year from second homes in the UK too – however, until then, owners of properties abroad are allowed to claim retrospectively. SO: you may be liable for a tax rebate: £ if the income you received in rental did not cover related costs, such as mortgage, repairs, insurance and many other bills related to the property £ if you have paid capital gains tax on the sale of a European property Should you fall into either of these categories you are advised to act fairly swiftly as this only applies to the current tax year. Good luck! Do call 02078980549 if you’d like
to chat about your future plans at all – I’d love to hear
from you. And remember too that as you move your money across to pay
bills, holiday in Greece, have your pension forwarded to you etc, you
will need to contact Smart Currency and discuss this. They can help
you here too. Phone 0870 285 0364/ 0207 898 0541 or go to: | ||
Buy the GuideDo you have your copy of the Greece Property Buying Guide yet? It makes great holiday reading and, if you are thinking of buying property in Greece, it is an absolute MUST! The Greece Property Buying Guide is an utterly honest and straightforward look at the buying process and will allow you peace of mind in knowing that you have covered every aspect of the buying process. This is what Christine, a Greece Property Buying Guide reader, wrote – I have abbreviated it:
Go to: http://www.GreeceBuyingGuide.com/guide.htm
for your copy of the guide.
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Travelling to Greece?Travelling on the tube the other day I saw a really great offer from ebookers – have you seen it? I thought that I just had to share it with you, especially as summer is just the time when prices seem to rocket! They are saying that this summer every holiday is on sale until 31st July – and this even includes August Bank holiday breaks! You can save on EVERY destination - now there is no excuse not to jump on the plane and take that a last minute holiday you have been promising yourself, or that trip to look at property…! On some options you pay for only half of your stay – and how about spoiling yourself with luxury accommodation at bargain prices? And there are some great prices: over the August bank holiday you can go to Athens for 3 nights on a scheduled flight for £296; to Dublin £162 – that’s a real bargain! Other holidays included Istanbul for £313, Lisbon for £271…the list is endless. Spoil yourself and have a look at: Incidentally, if you are just booking
flights it does sometimes pay to start your journey on Tuesday, Wednesday
or Thursday, something I discovered by playing on this site –
it can make quite a difference to the price. | ||
Burning QuestionThis month I have two questions from Greece Property Buying Guide readers, both basically needing the same basic information. The first one is from Daryl, who wants to know about establishing ownership of the property. The next is from Simon Ward, who asks if there is any chance of buying a home in Crete and having somebody repossess it, as has happened in places like Spain or Cyprus. At the heart of both these questions is the concept of property ownership and land registration. Fact: Greece is one of the few European countries that does not have a complete property register. Some places, like Rhodes for instance, have had a Land Registry since the time of the Venetian occupation, but other places do not. Many of the bigger cities and islands are in the process of changing this and the deadline for registration of property owners resident in Greece was October 31, 2008 while the same deadline was December 30, 2008 for owners residing outside of Greece. For the rest of the country the old Mortgage Office system is still the method for the registration of legal titles regarding the transfer of property. This system is based on the person or entity that owns the land at any given time. Under the Mortgage office system, you cannot locate a property in the Mortgage Office archives based on its address or location. You must know the name of the last person who legally owned the property and the property will be listed under their name. So, if you are researching at the Mortgage Office to determine the status of a title and there is no deed on file, you will be unable to locate the property. This also means of course that your vendor probably does NOT own the property…and you will immediately know this. However, here is the heart of the matter. Please, please get your OWN, reputable lawyer to deal with this aspect of your property purchase. I cannot stress this enough – we have received many heartbreaking emails from readers who fail to do this – and pay a very high price indeed. And I don’t just mean a financial price – the stress can be unbearable and some people have paid in full only to find that they do not own the property. Yes, you can sue: but what if the person has gone bust, or just disappeared? And remember, it can take up to 5 years for a case to get to court in Greece… Here is what my very good property friend on Corfu has to say about this:
Please don’t hesitate to phone me
on 0207 898 0549 if there is anything you want to discuss – we
at the Guides Company are always delighted to chat about Greece! And
don’t forget that I can put you in contact with brilliant property
people, in Corfu and indeed the rest of Greece too: just phone or go
to: |
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My dear colleague Elaine, who I am sure that many of you have spoken to, tells me that she has had a number of enquiries about buying homes on auction in Greece. Now, to be honest, I have not heard of anyone who has bought a property this way in Greece but I have to confess that my immediate feeling would be that this is not a great idea. The thing that worries me is this: we all know that there is a lack of a clear property register in Greece. Sometimes a whole lot of people own a property, passed on by inheritance to a family that may be spread all over the world. The importance of having a lawyer who can look into this for you and who will then communicate with you – in English – is something that we have mentioned often – sometimes, I am sure, to the point of boredom. However, I do believe that it is essential that the correct checks are done by your own independent lawyer and, in an auction how can you be assured of this? Just a thought… To contact Elaine just call 0207 898 0549
and she will be happy to help you with your needs. |
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That’s it for now. Do give me a ring and tell us how you are getting along - same old number: 0207 898 0549. And do let me know if there is anything you would like me to discuss in my next newsletter - I am always delighted to hear from you. Happy summer and keep your dreams in mind – they will come true if you make them! Take care out there, Best regards, Carol |
What
else have I been up to this month? Well, one thing I did do was meet
up with a friend of mine who has a 50ft narrow boat. Two of us drove
down to Henley and boarded the Ariadne there. 
salad
that I have ever eaten…or was it just the delightful company and
the breathtaking surroundings? I don’t know…but it was an
utterly lovely, relaxing and regenerating day that will live in my memory.
