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May 28, 2008
An agent is offering up £2 million new homes for sale in Spain – with gardeners thrown in for good measure. Barton Wyatt International (BWI) is marketing two prestige golf properties at La Reserva Rotana, in Majorca, and says both also come with waiters and cooks.
The idea is for property investors to be able to spend as much time as possible on the nine hole private golf course, with one of the villas even boasting its own vineyard. BWI said:
“Both villas boast five en suite double bedrooms, a solarium, 100-square metre pools, an office and 18,000-square metres of land, so the gardeners can be put to good use.”
La Reserva Rotana is just one of a range of elite golf properties marketed by the agent. Villa San Lorenzo, at La Zagaleta Country Club, features a home cinema and gym and is up for grabs for around £5 million.
Golf properties continue to be hot property in Spain. Former England Cricket Captain Ian Botham has snapped up a home in Desert Springs Resort and Golf Club, in Almeria. Here top-end, gated four-bed villas with private pools, fronting the championship golf course, fetch a cool £1.1 million.
BWI specialises in selling homes on golf resorts and also deals with corporate lettings, property management, portfolio management and refurbishment.
Qatari state property investors are reportedly gearing up to buy as much as £5 billion in UK and European commercial property. The news comes just days after it was revealed state investors from the Middle East were in the running to buy large swathes of commercial property in New York as they shifted focus from banks to buildings.
The Telegraph reports the Qatari consortium includes the Qatar National Bank, Qatar Islamic Bank, Barwa International and Qinvest. Assets in London and other prominent European cities will be the properties of choice as property investors seek to capitalise on falling property prices in the UK.
Quoted by the paper, chairman of the Qatar Islamic Bank Sheikh Jasim said:
“It is our belief that the United Kingdom continues to be an attractive investment place in Europe.”
Over the weekend the Financial Times reported real estate in New York is now being snapped up by state wealth funds. Groups from Kuwait and Qatar are among those though to be in the running to purchase the GM building, overlooking central park.
An estate agent body has said the UK housing market is showing signs of stabilising, although buyer confidence remains ’shaky’. The National Association of Estate Agents (NAEA) said its members were reporting stability in the number of sales agreed.
Officials added it seemed some buyers were keeping a close eye on the market before taking the plunge, as many were worried about a possible drop in prices. NAEA president Chris Brown said:
“Property supply is good but buyers are being cautious.
“It is apparent from the survey results that some people are adopting a ‘wait and see’ attitude, watching the market before making any decisions.”
He added first-time buyers feeling the effects of the credit crunch were particularly likely to be holding back from getting on the property ladder. Statistics released by the association showed the average difference between asking and sales prices remained at 4.7 per cent.
A regional breakdown showed agents in many areas say potential buyers have been withdrawing recently. The lettings market appears to still be strong in most areas. Mr Brown added:
“Some agents are also finding it difficult to stop sales falling through as people get ‘cold feet’ or fail to secure mortgages but we must remember this happens in the best of markets.”
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