Hello again.
Have you seen the Grace Kelly exhibition at the V & A recently? I haven’t, but I did go along to a talk by her friend and biographer Donald Spoto. He gave a fascinating insight into the real person behind the iconic image – it was so interesting. There’s always something to do in London isn’t there?
Thinking about my blog for this week, I popped on to Internet, just in case there was something I thought we all really should know about in Greece. There I was struck by the absurdity of it all. In bold headlines, on a news-driven site was the following:
“A new advertising campaign supporting Greek tourism has been created…The three different spots of the campaign first appeared on television on July 20th. There are lyrics about Greece from famous poets such as Odysseus Elytis, Yannis Ritsos and Lorentzos Mavilis. The campaign was presented in a press conference in collaboration with the Ministry of Culture and Tourism on July 26th.”
So they are trying to encourage tourism. And right next to that, in smaller print, was: “Queues at petrol stations”; this as consumers feared petrol shortages as a result of truck owners’ strikes. Then there was “Delays and cancellations of flights”; all about domestic and international flights in and out of Greece facing serious delays because of an air traffic controllers’ 24 hour strike – this despite it being declared illegal by the courts. Those involved said that they are seeking higher wages and the recruitment of more staff and that they will continue with their strike actions. Then there was mention of the dockside workers strikes too…
Now, I am by no means an expert on these matters, but here’s a rather naive question. If people stop visiting Greece altogether, after being endlessly irritated and inconvenienced by disrupted itineraries while on holiday in Greece, will these workers have jobs AT ALL? I mean, the Acropolis was closed recently because the ticket office was on strike…go figure. The Greek Association of Tourism and Travel Agents (HATTA) warned that continuing strikes “would be the nail in the coffin of what is left of the Greek tourism sector this year.” I hope someone is listening out there and that some consideration is given to that money generator, the tourist – i.e. you and me!
I hastily point out that I am talking about a country I really love, one that I would adore to live in and, in fact, have made it my job to encourage people both to work and to buy property in. But…get real. Times are hard, and we all need to get our heads down and work hard to get out of this recession. Is this the right way to go about it? Personally, I think not.
However, I have to say that I am thinking of going over to Greece soon. I will go with a flexible attitude and I will definitely get rebated hotel/B & B prices. I believe Athens is not nearly as crowded as usual and that tours to places on the mainland like Delphi and Sunion are not nearly as fully booked as they usually are this time of the year so that at least is a plus.
Also, if you are planning to view properties I would suggest things have played right into your hands. At this time of the year it is often impossible to get an appointment with an estate agent – I suggest that you may just get lucky this summer! Also it will give you a good idea of accessibility during the hard times – always a good idea. You can suss out how your area has been affected by the recent strikes and upheavals – something that it may be wise to bear in mind for the future.
Do let me know if you plan to go - and if so where. Or if you have been already, how did you find things?
All for this week – talk soon!!
Carol.
Friday 30 July 2010
Friday 23 July 2010
Make Sure You Use An Independent Lawyer
Hello again.
My daughter was in town last week so that was really exciting…and the best thing of all was that we went to a Will Young concert at Kenwood House!
Well, I thought it was the best thing – my cool kids were a trifle disconcerted at first but to their enormous embarrassment they LOVED Will! Evidently he’s not considered particularly cool but the great music and his relaxed charm won them over, as I knew it would. It was a warm, clear evening and my daughter had put together a picnic of all my favourite things – smoked salmon, prawns, a few glasses of wine…it was great sitting on the lawn just soaking up the lovely summer evening and the listening to Will’s dulcet tones, surrounded by like-minded people.
On to more serious matters. In my years with the OGC, I have spoken to lots of people buying abroad, most of whom were thrilled with the outcome, but sadly there have been a few that have had tragic tales to tell.
One such couple had bought the holiday home of their dreams, with lovely views of the sea, and were excitedly planning regular visits accompanied by their children and grandchildren. You can imagine their horror when they visited their property as it neared completion only to discover that a block of flats had been erected which totally obscured their sea view. I must say I was utterly heartbroken on their behalf. Here is another tale, as emailed to me:
“…none of our documents were translated by our English speaking lawyer, introduced by the agent! (I know - classic mistake and one we are paying for in stress and also money!). We thought we had bought a house complete with the land, but our documents tell a different story which is that we bought the land for one price. We then bought the shell of the building and employed the builder to complete the house (he still hasn't). This contract also states that if the builder does not get his money then he can sell the house and take everything in it (about £30,000’s worth of furniture and fittings).”
Why am I telling you all this?
If there is one ‘classic mistake’ that I have identified more than once, it is that people do not use the services of an independent lawyer, thoroughly conversant in English. This really is absolutely vital: retain your own lawyer and do not, under any circumstances, use one recommended by the seller or developer unless you can get personal recommendations from other people who have used him/her successfully. If you do, you may well find that such a lawyer will have conflicting loyalties. You don’t have to be a rocket scientist to know who they will ultimately look after - you, with your one-of purchase, or the estate agent/developer, with whom they do business on a regular basis. It’s a no-brainer.
Suffice it to say that if both these buyers had used good, thorough lawyers both the above set of circumstances could and indeed should have been avoided.
You also need to make very sure that you understand every word on the contract and that you’re paying as building stages are reached if you are buying off plan. That way you can’t be forced to pay by a certain time. I have heard of people paying almost the full price on a property before the builder has even started the build – it’s a very old con and one that still catches people out.
Please don’t neglect to do the things that you as a buyer would routinely do in the UK…as mentioned, retain your own lawyer, and also make sure you have all documents translated so that you can read and fully understand them and that you get personal references on all builders and developers that you use. A survey would also be on my ‘to-do- list.
I would love to hear how your plans to buy property are coming along. Also, there is masses on really detailed information in the OGC Buying Guides – I have put them all in case you may know someone interested in buying elsewhere! Just go to:
http://www.GreeceBuyingGuide.com/guide.htm
http://www.ItalyBuyingGuide.com/guide.htm
http://www.FranceBuyingGuide.com/guide.htm
http://www.PortugalBuyingGuide.com/guide.htm
http://www.EmigrationGuide.com/guide.htm
Best regards and a sunny smile from me – I am off boating down the canals in my friend’s longboat again!
Carol.
http://www.greecebuyingguide.com
My daughter was in town last week so that was really exciting…and the best thing of all was that we went to a Will Young concert at Kenwood House!
Well, I thought it was the best thing – my cool kids were a trifle disconcerted at first but to their enormous embarrassment they LOVED Will! Evidently he’s not considered particularly cool but the great music and his relaxed charm won them over, as I knew it would. It was a warm, clear evening and my daughter had put together a picnic of all my favourite things – smoked salmon, prawns, a few glasses of wine…it was great sitting on the lawn just soaking up the lovely summer evening and the listening to Will’s dulcet tones, surrounded by like-minded people.
On to more serious matters. In my years with the OGC, I have spoken to lots of people buying abroad, most of whom were thrilled with the outcome, but sadly there have been a few that have had tragic tales to tell.
One such couple had bought the holiday home of their dreams, with lovely views of the sea, and were excitedly planning regular visits accompanied by their children and grandchildren. You can imagine their horror when they visited their property as it neared completion only to discover that a block of flats had been erected which totally obscured their sea view. I must say I was utterly heartbroken on their behalf. Here is another tale, as emailed to me:
“…none of our documents were translated by our English speaking lawyer, introduced by the agent! (I know - classic mistake and one we are paying for in stress and also money!). We thought we had bought a house complete with the land, but our documents tell a different story which is that we bought the land for one price. We then bought the shell of the building and employed the builder to complete the house (he still hasn't). This contract also states that if the builder does not get his money then he can sell the house and take everything in it (about £30,000’s worth of furniture and fittings).”
Why am I telling you all this?
If there is one ‘classic mistake’ that I have identified more than once, it is that people do not use the services of an independent lawyer, thoroughly conversant in English. This really is absolutely vital: retain your own lawyer and do not, under any circumstances, use one recommended by the seller or developer unless you can get personal recommendations from other people who have used him/her successfully. If you do, you may well find that such a lawyer will have conflicting loyalties. You don’t have to be a rocket scientist to know who they will ultimately look after - you, with your one-of purchase, or the estate agent/developer, with whom they do business on a regular basis. It’s a no-brainer.
Suffice it to say that if both these buyers had used good, thorough lawyers both the above set of circumstances could and indeed should have been avoided.
You also need to make very sure that you understand every word on the contract and that you’re paying as building stages are reached if you are buying off plan. That way you can’t be forced to pay by a certain time. I have heard of people paying almost the full price on a property before the builder has even started the build – it’s a very old con and one that still catches people out.
Please don’t neglect to do the things that you as a buyer would routinely do in the UK…as mentioned, retain your own lawyer, and also make sure you have all documents translated so that you can read and fully understand them and that you get personal references on all builders and developers that you use. A survey would also be on my ‘to-do- list.
I would love to hear how your plans to buy property are coming along. Also, there is masses on really detailed information in the OGC Buying Guides – I have put them all in case you may know someone interested in buying elsewhere! Just go to:
http://www.GreeceBuyingGuide.com/guide.htm
http://www.ItalyBuyingGuide.com/guide.htm
http://www.FranceBuyingGuide.com/guide.htm
http://www.PortugalBuyingGuide.com/guide.htm
http://www.EmigrationGuide.com/guide.htm
Best regards and a sunny smile from me – I am off boating down the canals in my friend’s longboat again!
Carol.
http://www.greecebuyingguide.com
Friday 16 July 2010
Why Still Holiday in Greece?
Hello – how are you? This is a happy week for me as my daughter is in town. She lives in Dubai and is here to complete a course module for her studies. She arrived in London hoping to escape the heat in Dubai, only to be met with uncharacteristically hot weather here! I did warn her in advance – but do kids ever listen to their mothers? Thank heavens it’s cooling down a little now, for both our sakes!
Are you off to Greece this summer? A number of people have asked me whether I think it’s a good idea to go, given the strikes that seem to have become a regular occurrence…
Frankly, my answer is yes. For a start, there are far fewer tourists in town – it reminds me of when there was a Gadafi-related problem years ago and there was barely a tourist in the whole country. I am sure they were sorely missed by local hotel and restaurant owners but it certainly made visiting the Acropolis bliss! Tourism numbers have definitely dropped so queues are shorter and doing all the wonderful touristy things are just so much easier.
Then there is the Greek government’s offer to compensate tourists affected by industrial action. They have committed to pay up to €70 (£58) a day to cover costs incurred because of strikes, a sign of just how seriously they are taking the threat to the tourist industry.
And for good reason: tourism accounts for one in five jobs in Greece and nearly 20% of its GDP. The Brits are second only to the Germans here and are being especially courted, with the tourism ministry going so far as to create a Greek beach on the bank of the river Thames recently! They used 350 tons of real Greek sand to build a real Greek beach beside the River Thames in June at London’s South Bank’s riverside walkway by Gabriel’s Wharf, along with Greek food and entertainment. There’s no doubt in my mind that everything that can be done to help tourists will be done.
My suggestion is to perhaps stick to mainland Greece instead of the islands: ferries and local flights are particularly badly affected when there are strikes. You may want to try the Peloponnese for example - there are some wonderful seaside resorts along the coast. I personally love Monemvassia, not for beaches but for pure historical charm. And another of my wonderful discoveries is Xylokastro, right on the Corinthian Bay in the Peloponnese, on the way from Athens or Corinth to Patras.
I stayed at Le Convivial Luxury Suites & Spa – it’s near both the sea and the mountains, an hour’s drive from Athens (I took a bus) and within a short distance of some of the most important archaeological sites in Greece. In fact, the hotel’s clientele is often made up of academics, archaeologists and historians who use it as a jumping-off point for ancient sites in the region, including Epidavros, Nemea, Mycenae, ancient Corinth, ancient Olympia and Delphi. Plus Xylokastro has a wonderful small town atmosphere and a lovely beach – the photos show the spa in the hotel and the views from a local restaurant… what more could you want? You can travel either by hired car or by bus, as I did.
And if you are thinking of buying a property in Greece, property experts are looking at a projected drop of 30% in the prices for the next two years. Some sources go as far as to say that property deals decreased by 60% and brokers are not expecting the market situation to improve before the second half of 2012. This means that prices will be down. It also means that you will really need to concentrate on accessibility – always important but never more so than now. I write a monthly Greece Buying Guide newsletter and I am dedicating my end July/ early August one to transport within Greece – you may like to look at it. Just go to: http://www.greecebuyingguide.com/greece_news.htm around about 29th July.
Chat next week – ’bye for now!
Carol.
Are you off to Greece this summer? A number of people have asked me whether I think it’s a good idea to go, given the strikes that seem to have become a regular occurrence…
Frankly, my answer is yes. For a start, there are far fewer tourists in town – it reminds me of when there was a Gadafi-related problem years ago and there was barely a tourist in the whole country. I am sure they were sorely missed by local hotel and restaurant owners but it certainly made visiting the Acropolis bliss! Tourism numbers have definitely dropped so queues are shorter and doing all the wonderful touristy things are just so much easier.
Then there is the Greek government’s offer to compensate tourists affected by industrial action. They have committed to pay up to €70 (£58) a day to cover costs incurred because of strikes, a sign of just how seriously they are taking the threat to the tourist industry.
And for good reason: tourism accounts for one in five jobs in Greece and nearly 20% of its GDP. The Brits are second only to the Germans here and are being especially courted, with the tourism ministry going so far as to create a Greek beach on the bank of the river Thames recently! They used 350 tons of real Greek sand to build a real Greek beach beside the River Thames in June at London’s South Bank’s riverside walkway by Gabriel’s Wharf, along with Greek food and entertainment. There’s no doubt in my mind that everything that can be done to help tourists will be done.
My suggestion is to perhaps stick to mainland Greece instead of the islands: ferries and local flights are particularly badly affected when there are strikes. You may want to try the Peloponnese for example - there are some wonderful seaside resorts along the coast. I personally love Monemvassia, not for beaches but for pure historical charm. And another of my wonderful discoveries is Xylokastro, right on the Corinthian Bay in the Peloponnese, on the way from Athens or Corinth to Patras.
I stayed at Le Convivial Luxury Suites & Spa – it’s near both the sea and the mountains, an hour’s drive from Athens (I took a bus) and within a short distance of some of the most important archaeological sites in Greece. In fact, the hotel’s clientele is often made up of academics, archaeologists and historians who use it as a jumping-off point for ancient sites in the region, including Epidavros, Nemea, Mycenae, ancient Corinth, ancient Olympia and Delphi. Plus Xylokastro has a wonderful small town atmosphere and a lovely beach – the photos show the spa in the hotel and the views from a local restaurant… what more could you want? You can travel either by hired car or by bus, as I did.
And if you are thinking of buying a property in Greece, property experts are looking at a projected drop of 30% in the prices for the next two years. Some sources go as far as to say that property deals decreased by 60% and brokers are not expecting the market situation to improve before the second half of 2012. This means that prices will be down. It also means that you will really need to concentrate on accessibility – always important but never more so than now. I write a monthly Greece Buying Guide newsletter and I am dedicating my end July/ early August one to transport within Greece – you may like to look at it. Just go to: http://www.greecebuyingguide.com/greece_news.htm around about 29th July.
Chat next week – ’bye for now!
Carol.
Friday 9 July 2010
Money Saving Tips Abroad
Hi there – how are you?
I never, in my wildest dreams, imagined that I would be hoping for a cloudy, cool day here in London. While my friends were here and Wimbledon was on, it would have been a tad churlish to wish for overcast skies but this week at last I welcome the cooler weather!
Are you going away this summer? Whether you are looking to buy a property abroad or just joining the steadily declining number of holiday makers overseas, there is no doubt that financial restraints have meant that tourism has dropped. Most of us or having to tighten our belts and count the pennies, to use two clichés in one sentence! Not only is getting out there more costly but accommodation is stretching budgets too, so here are a few of my own tips for saving money next time you are abroad:
Food shopping
Bye for another week – take care!
Carol.
http://www.greecebuyingguide.com
I never, in my wildest dreams, imagined that I would be hoping for a cloudy, cool day here in London. While my friends were here and Wimbledon was on, it would have been a tad churlish to wish for overcast skies but this week at last I welcome the cooler weather!
Are you going away this summer? Whether you are looking to buy a property abroad or just joining the steadily declining number of holiday makers overseas, there is no doubt that financial restraints have meant that tourism has dropped. Most of us or having to tighten our belts and count the pennies, to use two clichés in one sentence! Not only is getting out there more costly but accommodation is stretching budgets too, so here are a few of my own tips for saving money next time you are abroad:
Food shopping
- It’s true that there are usually some lovely specialist stores nearby but prices can be on the high side if there is little competition in rural areas. It may be wise to consider shopping online if you can. This will mean that you can compare pricing and buy cheaper plus you will be less inclined to impulse buy!
- You could also find out if they have something like special offers or ‘double point’s days’ at your local supermarket and make an effort only to shop on those days. Also have a look at the items in the section for ‘nearing sell by date’. I have had lots of success here – things are sometimes quite dramatically reduced and are absolutely fine if you are going to eat them straight away or freeze them
- Last but by no means least, make a point of using your local fresh produce market for the bulk of your general day to day fruit and veggies if there is one in the vicinity. You may have to queue at the popular stalls but produce is usually cheaper and often much better than at the supermarkets
- Once you have your own property, think about growing your own vegetables. Some friends of mine have a small plot and were absolutely delighted this year to be able to pick the most wonderful green beans, potatoes and tomatoes from their own garden. It is tremendous fun to watch something you have planted grow from seed and not difficult to achieve
- Invest in a water butt to catch rainwater for your garden
Car boot and bric-a-brac sales
- Every village or town has one or more. Look out for adverts in your supermarket and patronise these – you will be surprised what you can find.
- Good insulation helps cut heating bills down in winter and air con. Bills in summer. Sealing outside doors also helps here
- A wood burning stove and/or an open fire may well be all you need for many of the winter months instead of more costly central heating
- Remember to turn off your TV, PC and mobile phone charger when not in use – from the wall and not just on the remote! A little goes a long way in saving you money!
- Both petrol and diesel are usually cheaper at supermarkets. Try to avoid motorway service stations if you possibly can, they can be quite a bit more expensive
- This is always worth looking into properly. You need to look at the cover you have as well as any excess and compare to other companies
- This is vital. Communication with your neighbours, local shopkeepers and new friends is vital, not only for your peace of mind and happiness but for helping you to save money on your general living expenses. When I first bought my house abroad a kind neighbour told me where to get the very freshest bread in the morning which also happened to be a little cheaper than the bakery I had been going to. OK, a small point but a good example of how integration can help you in so many ways. So don’t be shy, socialise as much as you can and both you and your pocket are bound to benefit!
Bye for another week – take care!
Carol.
http://www.greecebuyingguide.com
Friday 2 July 2010
Make YOUR financial plan come together….
Hi there.
Well, miracles DO happen! Can you believe the wonderful weather Wimbledon experienced in the run-up to the finals? As I may have mentioned, friends of mine came from South Africa and the USA to watch, and their chief concern was that they didn’t get sunburnt – not a problem usually encountered at Wimbledon! And what a gripping series it is, with the both the men’s and the woman’s favourites out – unbelievable.
I heard recently that they were doing a remake of that classic TV series, The A Team…I know it was ridiculous, but somehow it reminds me of my kid’s childhood, of a less sophisticated era when we all clustered around the TV together to watch instead of the family being spread throughout the house, each at their own computer or laptop.
Remember the catch-phrase – ‘I love it when a plan comes together?’ Well, wouldn’t it be wonderful to jet away to your place in the sun for your summer break, all your plans having come together? If only buying abroad was that easy….or is it? Well, thousands of us Brits do so every year according to the statistics – why not become one of them?
However, has the family agreed on the motive for buying? Is it a heart pounding, emotional fuelled, lifestyle purchase? Or is it a level-headed, pragmatic, money making decision? The majority of people probably want it all - the best of both worlds. However, that peaceful mountain retreat might not rent like the hedonistic beach front apartment…or should it be the city centre apartment which could rent well…but then…do you really want to stay in the business district yourself?
Whatever motivates your purchase, there are certain concerns that you should bear in mind, one of the most important being what financial liability are you taking on and if you can afford it. The papers have been full of property market crashes around the world – indeed mortgages were one of the main factors in many of the bank’s problems.
With 80% of overseas purchases being mortgaged, you need to make sure you choose the correct bank to fund your purchase. This can save you thousands in the long run. Do you need a bank that can facilitate re-finance? What about over-payments, what about off-setting income against mortgage costs? Is there a robust legal process and who should represent you? Cut costs here and you could lose the lot. Also, have you considered what type of property rents well in your chosen area: apartments or villas? Is there a glut of rentable property in the area you are looking at? These and many other factors need serious consideration upfront.
The bottom line is that all of the above involves money and lots of it, so talking to professionals is key. This is a big commitment with big responsibilities. How does it fit into your overall financial plan? Speak to financial advisors who have overseas property experience (not all do), and are familiar with property investment strategies. Understanding the full financial commitment you are taking on, you can then feel confident that you are buying within your budget and not be in for any shocks along the way.
Your plan will only come together only if you actually have one…and then stick to it! Even when buying the holiday home of your dreams the numbers must work… you must understand them, work them out in advance, and then confidently buy, knowing that you have catered for every contingency.
Take care in the week ahead and enjoy the summer sun!
Best,
Carol.
http://www.greecebuyingguide.com
Well, miracles DO happen! Can you believe the wonderful weather Wimbledon experienced in the run-up to the finals? As I may have mentioned, friends of mine came from South Africa and the USA to watch, and their chief concern was that they didn’t get sunburnt – not a problem usually encountered at Wimbledon! And what a gripping series it is, with the both the men’s and the woman’s favourites out – unbelievable.
I heard recently that they were doing a remake of that classic TV series, The A Team…I know it was ridiculous, but somehow it reminds me of my kid’s childhood, of a less sophisticated era when we all clustered around the TV together to watch instead of the family being spread throughout the house, each at their own computer or laptop.
Remember the catch-phrase – ‘I love it when a plan comes together?’ Well, wouldn’t it be wonderful to jet away to your place in the sun for your summer break, all your plans having come together? If only buying abroad was that easy….or is it? Well, thousands of us Brits do so every year according to the statistics – why not become one of them?
However, has the family agreed on the motive for buying? Is it a heart pounding, emotional fuelled, lifestyle purchase? Or is it a level-headed, pragmatic, money making decision? The majority of people probably want it all - the best of both worlds. However, that peaceful mountain retreat might not rent like the hedonistic beach front apartment…or should it be the city centre apartment which could rent well…but then…do you really want to stay in the business district yourself?
Whatever motivates your purchase, there are certain concerns that you should bear in mind, one of the most important being what financial liability are you taking on and if you can afford it. The papers have been full of property market crashes around the world – indeed mortgages were one of the main factors in many of the bank’s problems.
With 80% of overseas purchases being mortgaged, you need to make sure you choose the correct bank to fund your purchase. This can save you thousands in the long run. Do you need a bank that can facilitate re-finance? What about over-payments, what about off-setting income against mortgage costs? Is there a robust legal process and who should represent you? Cut costs here and you could lose the lot. Also, have you considered what type of property rents well in your chosen area: apartments or villas? Is there a glut of rentable property in the area you are looking at? These and many other factors need serious consideration upfront.
The bottom line is that all of the above involves money and lots of it, so talking to professionals is key. This is a big commitment with big responsibilities. How does it fit into your overall financial plan? Speak to financial advisors who have overseas property experience (not all do), and are familiar with property investment strategies. Understanding the full financial commitment you are taking on, you can then feel confident that you are buying within your budget and not be in for any shocks along the way.
Your plan will only come together only if you actually have one…and then stick to it! Even when buying the holiday home of your dreams the numbers must work… you must understand them, work them out in advance, and then confidently buy, knowing that you have catered for every contingency.
Take care in the week ahead and enjoy the summer sun!
Best,
Carol.
http://www.greecebuyingguide.com
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