End of Cheap Air Travel?

Now sit down for this one. BA chairman Willie Walsh, yes he who presided over the Terminal 5 fiasco at Heathrow, claims that we've hit the end of cheap air travel.

According to the Guardian Willie has said; "... the soaring cost of oil allied to global economic uncertainty would force airlines to raise fares in a scramble for survival that will see many of them go bust." Not good news for the consumer obviously. Less airlines = less competition = the backside being ripped out of the market.

This announcement comes the day after the world's biggest carrier, American Airlines, announced huge cuts in routes and jobs because of rising oil prices. Walsh also said that; "budget airlines would have to increase fares and add-on charges such as baggage check-in fees and that many unprofitable companies would simply go bust. The industry has no future if it does not price in its costs." Ah, has that not been happening already Willie? Aer Lingus and Ryanair have both announced increases in baggage charges and boarding fees over the past few weeks.

The prediction is likely to send shivers down the spine of Irish owners of property abroad, many of whom bought on the back of cheap access and who rely on such cheap access to visit their properties regularly.

Let's hope Willie's predicitions are as reliable as his ability to open a new passenger terminal.

You'll find Mr. Walsh's rather unpopular prediction here.

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For an advice article on the risks of basing your purchase decisions on the availability of cheap flights click here.

For other stories referring to airlines click here.

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Taxing Times

It's one of those things you may not like to talk about, but that doesn't mean it doesn't exist - tax. You know what they say, the only things certain in life are death & taxes.

One thing is for sure, if you're looking to get into overseas property you'd better not overlook the tax implications, particularly if you're purchasing in your own name rather than through a company.

As is the wont of the OverseasCafe.com website, we have commissioned a few very fine articles on taxation and how it will effect you in relation to your overseas purchase. We strongly advise that you visit and read a few of them to get a handle on these issues before you consider your purchase abroad (or indeed after you've purchased abroad should you have already done so, but reading them in advance is better if you can manage it).

For a listing of impartial advisory articles relating to taxation issues when purchasing property overseas click here.

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For a selection of property from around the world click here.

For a listing of agents selling overseas property click here.

For independent articles on overseas property click here.

For advice on purchasing property overseas click here.

For news on the world of overseas property click here.

For new releases and product updates from agents around the world click here.

For a list of upcoming overseas property exhibitions around the country click here.

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German Property - Think Laterally

Looking for German property, then the chances are you'll have been offered units or projects in Berlin, Frankfurt, Munich, Stuttgart, Leipzig or Dresden. You've probably never been offered anything in rural Bavaria though (of course Munich is in Bavaria but we're ignoring it for the purposes of this blog, just because it suits us and its our blog).

Bavaria is Germany’s number one vacation state and its Chiemgau alpine region enjoys a healthy share of the state’s tourism, drawing many thousands of German and foreign visitors annually. Well you'd never have thought of that would you? Apparently it's a wonderful spot so we said we'd better check it out to see what all the German's know that we don't.

We wrenched Margaret Carragher from her desk at the Sunday Indo and sent her off to the region to size it up, you can see what she thought of it here.

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For a selection of property in Germany click here.

For a list of agents selling property in Germany click here.

For articles on Overseas Property click here.

For advice on purchasing in Germany click here.

For news on the German property market click here.

For new releases and product updates from agents selling in Germany click here.

For a selection of property exhibitions featuring German property click here.

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Rate Your Spanish Agent

Had an absolutely wonderful experience with your Spanish property sales agent? Alternatively, have you had completely rubbish service from an agent, been led up the garden path, taken for a ride and every other cliché in the book? Well then you'll be glad to know that, as with everything else, there's a website where you can find out about agents before you use them or report your experiences so that others can read and assess your comments.

As an example, here are links for the ratings given for some of Spain's larger agencies. Just remember when browsing the results that you may need to balance it somewhat with the fact that people are more inclined to complain that they are to compliment.

Aifos

Ambasun International

Andalucian Dream Homes

Atlas International

Iberian International

MacAnthony Real Estate International (MRI)

Masa International

Medsea Estates

Ocean Estates

Palmera Properties

Parador Properties

Polaris World

Viva Estates

There is also a list of Spanish developer ratings here.

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To view properties in Spain: Click Here

To View a List of Spanish Agents: Click Here

To View the most Recent News from Spanish Agents: Click Here

To View the Latest Spanish Property News: Click Here

To See a Listing of Upcoming Spanish Exhibitions: Click Here

To See a Selection of Advice on Purchasing in Spain: Click Here

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Justifying Irrational Purchase Decisions

When an investment seems overpriced, when the purchase seems completely irrational, we can be talked into accepting it by thinking that 'this time it is different' there are now 'different market drivers' and things will never return to the 'old status quo'.

That was a motto of the Internet bubble, the heyday of delusional investing. Valuations in the fledgling industry made no sense, even with the most heroic assumptions about their earnings potential. But the sector was so appealing that investors created a new assumption - unfounded, as it turned out - that the world would change so fundamentally that valuation norms no longer applied.

This has also been happening since that time in the property industry, leading to an unprecedented boom and, ultimately, bust.

See full article here.

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For a selection of property from around the world click here.

For a listing of agents selling overseas property click here.

For independent articles on overseas property click here.

For advice on purchasing property overseas click here.

For news on the world of overseas property click here.

For new releases and product updates from agents around the world click here.

For a list of upcoming overseas property exhibitions around the country click here.

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Revenue Seeks to Track Down Overseas Property Owners

This isn't exactly news, it is merely chronicling articles which deal with the subject as it seems to be a very popular one in the media recently. The Revenue is openly co-operating with the writing of these pieces (you'll see one in the SBPost links below from Diarmaid Condon who writes for the site) so there is obviously a big move on to clamp down on overseas investments and the Revenue wants it known that this move is being made.

These are the most recent reports on the initiative from the Revenue to track down overseas property owners from the Sunday Business Post (and others here and here on making a Qualifying Disclosure) and Irish Independent today.

Click here for informative onsite advisory articles dealing with the Revenue.

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Who's Been Looking Where

The OverseasCafe.com has been doing monthly surveys on where Irish web surfers (both North and South) have been checking out on the Web. The surveys have been an excellent barometer of where potential Irish property buyers interest currently lies. Its big advantage is that it is right up to date, rather than the usual season old data received from shows and cobbled together from anecdotal information.

The results of the survey for 2008 and comparisons with April 2007 are available here. They make very interesting reading as there has been a sea change in the areas now tickling the fancy of Irish investors. We could be seeing the end of the huge surge in French interest, which has lasted since 2000, but has dropped dramatically from 25% of all searches to just 8%. Interest in the UK and US are at all time highs as buyers seek to profit from weakness in both currencies.

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