MARCH 2011 |
www.opp.org.uk Contents ON THE RECORD THIS MONTH...
“Whole ownership second home markets with limited supply such will avoid value contraction and may see slight improvements in volumes over 2010. Within Europe hot spots for fractional ownership remain AAA locations where there is a scarcity of quality product available.” NICK TURNER. RCI. LEADERSHIP AND VISION: PAGE 7
“The 80’s were tough, so I’ve been through it before. It’s just taken a bit longer to recover this time. We were diversifi ed ... we did residential, land and industrial real estate in Florida, Ireland and the UK, but no-one foresaw all 3 markets collapsing at the same time.” GARRETT KENNY. DISTRESSED REPORT: PAGES 44-53
05 07
EDITORIAL COMMENT Stay positive in these negative times
LEADERSHIP AND VISION What are the 2011visions of our experts?
08-09 INDUSTRY NEWS Egyptian revolution may help market
10-11 INDUSTRY NEWS Spanish banks reveal loan exposure
12 13 14 16 DISTRESSED REPORT. STORMY WEATHER (Pg 44-53)
For the last few years, doing business in the overseas property market has been about putting out fi res - a scrap for survival in which sales have fallen, and budgets have been cut to the bone. This is especially the case in the distressed markets, which have suff ered from foreclosures, overbuilding, and the collapse of the banking system. But is there a light at the end of the tunnel? We talk to industry experts from Spain, Portugal, Dubai and the USA to assess how the industry has weathered the storm, and what opportunities the distressed markets can off er for you and your clients.
ALTERNATIVE INVESTMENTS: GREEN OIL MARKET SNAPSHOT: FLORIDA 18 20
FINANCE NEWS Fund gives alternative to fi rst-time buyers
DEVELOPER NEWS UK land price growth is slowing down
FRACTIONAL NEWS The lowdown on Fractional Summit 2011
MEDIA NEWS New database system drives referrals
TRAVEL AND TOURISM NEWS Overseas air travel set to take off
PEOPLE: MOVERS & SHAKERS Who’s on the move in the property world?
24-25 YOUR SHOUT - LETTERS AND BLOGS Misleading geography, and hiring the best
26-27 US VIEWPOINT The land of red, white and blue is going green
28
AIPP ADVICE Good customer service is paramount
30-31 DEVELOPMENT Margaret Wylde avoiding costly mistakes
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LEGAL LESSONS What should clients know when emigrating?
34-35 FUNDING FIGURES Mortgage data analysis from the experts
39 41
39 | It’s good for the planet, and could also help your clients investment portfolio.
THE LAST WORD: NICK BYRNE
54 | All the facts on Florida, a distressed market that has remained a popular tourist destination.
OPP AWARDS FOR EXCELLENCE 2010 43
ALTERNATIVE INVESTMENTS Green oil off ers an interesting option
FRACTIONAL FUTURE The rise of the urban fractional
SUSTAINABILITY Conferences call on green industries
44-53 DISTRESSED REPORT How have agents and developers survived?
54-55 MARKET SNAPSHOT - FLORIDA All the stats for the Sunshine State
56-59 OPP AWARDS FOR EXCELLENCE 2010 Meet the Currency and Media winners
60-61 DIGITAL MEDIA Building an online reputation
64-65 THE LAST WORD A franchise opportunity for waterside agents
62-63 OPP TRADE DIRECTORY Contacts and opportunities
64 | The director of Waterside Properties talks to OPP about the franchise network he is setting up.
56 | Find out who won the 2010 Currency and Media categories, and why the judges chose them.
66
CAREERS SECTION Find your next job in OPP
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