So where should you buy?  Ski of sea??

If skiing is not your thing, the Black Sea coast with its beautiful beaches would seem sensible but the rental period, should you want to rent out your property is far shorter.  On the other hand, Bansko, which offers snow-making to prolong skiing at this premier ski resort, gives you year round opportunitiesbecause, aside from skiing, there are plenty of summer activities including horse-riding, white-water rafting to name but a few.

Some new popular developments include the very modern St George Ski and Spa located in the old town which has thermal springs and ancient roman baths. Set for completion by December 2008, a studio here would set you back about £32,000 and for this you have full benefit of all the facilities including the swimming pool with retractable glass roof.

Palma Springs Holiday Club and Spa is located at Golden Sands on the Black Sea.  Here the attraction will be a hot spring mineral spa and health centre. With a more glitzy feel, Golden Sands is more upmarket than its neighbour Sunny Beach, and offers facilities for all ages.

So should you be pressured into buying before Bulgaria joins the EU in January 2007?  No.  despite thoughts that property prices will increase after January, there is no resale structure currently in place in Bulgaria so even if prices do rise, it could be hard to sell your home, particularly while new properties are being developed. A re-sale structure will take a few years to be put in place so if you decide to invest now, you should view it as a five-year investement.

Properties built since January 2006, when building regulations were in place, will prove very desirable. Garden of Eden is a beachfront scheme, built to blend with traditional Bulgarian architecture and is located in the village of St Vlas.

For residential properties in Bulgaria visit AddMyProperty.com

Then there is the language.  Unless you are fluent in Spanish it is a must that you engage a Spanish speaking solicitor who is also fully conversant with the legal process.  The Abagado is the equivalent of na solicitor who acts on behalf of the purchaser. Budget for costs in the region of 1.5% of the purchase price plus IVA (their equivalent to VAT) for this service.

You will then be liable for capital gains tax when you sell and a transfer tax or Impuesto de Transmisiones Patrimoniales (ITP) of 7% when you resell.  In Spain, the ‘Inland Revenue’, who deal with all tax issue is known as the Hacienda.

A Gestor will need to undertake conveyancing on your behalf.  This is done in conjunction with the Abagado in the presence of the Notaria, who is the local government official who oversees that the process is correctly followed.  The Notaria must witness the signing of the Title Deeds (Escritura), and will apply to formally change the land registry.  You should at this stage, obatin a copy of the Copia Simple (Title Deeds).

As a foreign national, you will have to apply for a NIF (Numero de Identificacion Fiscal) - a number which identifies you as a foreigner purchasing a property in Spain.  Although your legal representative should do this for you, it is wise to check that they have done so on your behalf.

Local taxes you need to know about include Plus Valia which is a tax paid by the vendor and is a percentage of the profit made since the previous purchase.  You also don’t escape Stamp Duty which fluctuates around the 1% mark and finally there is ITP which is referred to earlier in this article.

In Spain allow 10% above the asking price of the property to cover the Abagado’s fees, translation costs, Notaria and land registry frees, stamp duty and iva.

It is important to stress the need to get a good agent.  You may look to save costs but the financial penalties of making mistakes, or missing important parts of the buying process, can well outway the costs of good legal advice and guidance.

Check:

That the property has a clear title;

If there are restrictions on renting it out;

If there is tax on rental income;

If anyone else has laid claim to the property;

If your Will is recognised in Spain and what happens to the property if you die?

There is more to Spain than the main tourist areas and it is worth checking out as much of the country as feasibile before investing your life savings.  Madrid, Seville and Cordoba are fascinating places as are Bilbao, in the north and Corunna in the north west corner.  These areas are often defined as ‘real Spain’.

For properties to buy in Spain visit AddMyProperty.com

Also, they generally have high ceilings, large picture windows and additional stroage space as well as an enviable location.

So what is timeshare? Well, timeshare is a form of holiday ownership. You do not own the property but you own the right to use a week (or more depending on your contract) in an apartment or villa on a holiday resort of your choice for as many years as you want.

The accommodation offered by the timeshare arrangement, is usually much better than a hotel or rented accommodation. Most resorts offer excellent leisure facilities that are generally free to use. They also tend to be self-catering properties making them perfect for family holidays. Accommodation can range from modest studios to luxury villas with as many (or as little) bedrooms and bathrooms as you require.

So what is the difference between ‘fixed week timeshare’ and ‘floating system timeshare’?

With a fixed week timeshare you sign up to a specific week of the year in a specific property. However this need not restrict your holiday as you can choose to swap through the exchange system for something similar in another part of the world at another time if you do not wish to spend each holiday at the same place at the same week.

On the other hand, the ‘floating system’ (including Points Clubs) mean that instead of owning a specific week, you own a week or more within a seasonal band of time but each year, subject to availability you will need to book the specific week you want.

The exchange system tend to be more popular as it offers the flexibility to choose from a variety of resorts world-wide. All you have to do is swap, through the timeshare company, with someone who has the same standard accommodation as you.

Legally, what you are paying for is the right of use of your holiday accommodation, being held in trust, or registered on a public register for your lifetime.

You will need to pay an annual fee and to ensure you get your choice, you should ensure timely payment. If you invest and later decide its not for you you just sell your rights to someone else!

Be sure to seek legal advice before embarking on, what can become a considerable investment.

This is most apparant on the Palm Jumeirah island, where the array of investment property is vast.  One of the largest projects here is the Kingdom of Sheba where more than 10% of the residential phase sold in one week when the scheme was launched in December 2006. The villas, townhouses and penthouses in this complex all come with sea views and access to a private beach club, gym and restaurants.  Invest in a five-bed townhouse and a free year’s membership to a yacht hire scheme is thrown in for good measure!.

So, is now the time to invest in Dubai?  Many fear that Dubai’s sudden rise in popularity wil be short lived as there is rising competition from elsewhere in the Middle East - e.g.  Bahrain is constructing Durrat Al Bahrain which will be a group of 13 artificial islands, home to hotels, apartments and shops.  So what are the pros and cons of investing in property in Dubai?

For a start the location offers year round sun and purchasers are entitled to apply for residency.  There is no capital gains tax or stamp duty on freehold property.  On the down side, the weather can reach searing temperatures in the height of the summer ( the hottest temperature recorded was 47.5% in the summer of 1999), and residency isn’t guaranteed.  There is a 7% cap on rent increases this year (2007) ; a drop fropm the previous rate of 15%.  Until the metro system is built you should expect heavy traffic congestion.

80% of Dubai’s population are ex-pats. Its population is expected to rise to 1.4 million by 2010.

Whenever you buy something you always have to be sure that the buyer actually owns what is being sold. Yet in their rush to buy in Dubai some buyers seem to have forgotten this - a simple note of sale from the seller is just not enough. While Dubai has a reputation for having a transparent and trouble free property purchase process it is not safe to enter into any form of property transaction without the aid and support of a competent and independent lawyer.

The Energy Saving Trust encourages us to save 20% energy per year and for the average three-bedroomed semi-detached house it is easy to cut 2 tonnes of its annual carbon dioxide emissions.  It is now common practice for many of us to recycle our bottles, jars, plastics and paper and this is actively encouraged by local authorities all over the UK but this is only the thin end of the wedge if you are seriously determined to make a difference.

This is by no means a difficult task.  A few simple changes that will be hardly noticeable to housholders can result in a 20% energy saving thus reducing an average household fuel bill by £300 per annum.  Some savings are instant - other may take a bit longer before the financial benefits can be realised.  If you are planning on selling your home, recent studies have shown that properties  having a package of eco-friendly improvements can increase the saleability and value of the property by up to £10,000!

The new home seller’s packs will include energy performance certificates - so what steps can you take now?

Check the temperature settings on your heating and water settings - If you turn down your thermostat by just 1 degree centigrade you could see a decrease on your energy bills of up to 10%.  Many people make the mistake of believing that their water has to be boiling hot but what do we do?..add cold water instantly to cool it down!  So we pay to heat it up then add water to cool it down ???  Look now and change your cylinder thermostat to be no higher than 60 degrees Celsius.

How’s your insulation?  Would you believe that up to 33% of the heat produced in your home is being lost through walls and more is being lost through the roof.  For a quick fix to prevent this scale of heat loss, invest in cavity wall insulation which is quick and relatively cheap and you could see a saving on your heating bills of up to £150 per annum.  Houses built after 1920 tend to have cavity walls with a small air gap - if this is the case investigate the possibility of obtaining a grant which could cut the cost of insulating your cavity walls to about £300.  If you have exposed floorboards, under-floor insulation which would cost about £100 will save you £50 a year in retained warmth!

Have you seen the light?  Light saving bulbs make a significant saving to the amount of energy being consumed when compared to the ordinary light bulb.  Changing all your traditional bulbs to enery efficient ones can save you £100 over the bulb’s lifetime and the can last up to eight years.

Check your appliances - It is easy to check the energy efficiency of household appliances as they are now graded according to their efficiency.  New products will display a sticker - the nearer the Grade to A - the more cost and energy efficient it is.  Using a high-efficiency boiler with heating controls could give you savings of about £230 per year - this saving will pay for your cavity wall insulation!.  If your boiler is more than 15 years old, you may reap the benefits of investing in a new one.  Do not leave electrical equipment on ’standyby’ instead of switching off as this could lead to you loosing £37 a year in wasted energy.

Solar power - No greenhouse gases are generated by solar systems and this can result in a saving of 325kg of carbon dioxide emissions a year for an average property.  Solar panels and systems come in various types and styles and indeed prices.  Many people wrongly believe that this would not be an efficient system in the UK because ‘we don’t get enough sunshine’.  How wrong could they be!  The solar systems only require daylight rather than direct sun, but shade will have a detrimental effect on the way solar panels work which decreases their appeal to owners of north-facing properties.  Costing between £4,000 and £9,000 to install and you should check your local planning rules before embarking on this type of project.  A full solar system may take up to 15 years to be financially rewarding but you can be satisfied that you have made an contribution to saving the environment.  You can also explore cheaper versions which may just heat water.

Wind power? Only a small percentage of the UK’s power is harnessed from the wind.  Systems are available for the home and cost in the region of £7,000 which includes the turbine, mast, full kit and installation.  Because turbines are relatively new, the cost savings are yet to be evaluated.

Earth Ship is Britain’s ultimate eco-friendly house built at a cost of £280,000 in Brighton.  It was built to show that style and sustainability can go hand in hand.  The house’s construction includes old tyres  rammed with earth to build the walls, which also contain broken glass!  The granite floor are made from the off-cuts of gravestones and reclaimed floorboards were used for its wooden frame.  Check it out!