This page contains a Flash digital edition of a book.
APRIL 2013 |www.opp-connect.com


Editor’s letter • John Howell ✆ +44 (0)203 540 2225 john.howell@opp-connect.com | 05


HEAD OFFICE 15 Little Green Richmond TW9 1QH ✆ +44 (0)203 540 2222 www.opp-connect.com


EDITORIAL Editorial Director John Howell ✆ +44 (0)203 540 2225 john.howell@opp-connect.com


International property reporter Francine Carrel ✆ +44 (0)203 540 2221 francine.carrel@opp-connect.com


Editorial assistant Candice Ritchie ✆ +44 (0)203 540 2221 candice.ritchie@opp-connect.com


OPP Connect Editor Adrian Bishop adrian.bishop@opp-connect.com


OPP India


Editor: Maneesha Chawla maneesha@opp.org.in ✆ +91 98102 89626


ADVERTISING Commercial director


Andy Grimley ✆ +44 (0)203 540 2224 ✆ +44 (0)7841 929 768 andy.grimley@opp-connect.com


Sales consultants Anthony Hurley ✆ +44 (0)203 540 2216 anthony.hurley@opp-connect.com


Alex Martin ✆ +44 (0)203 540 2229 alex.martin@opp-connect.com


MARKETING & OPERATIONS Marketing and Operations manager Naomi Zammit ✆ +44 (0)203 540 2231 naomi.zammit@opp-connect.com


Marketing and Operations executives David Beaumont ✆ +44 (0)203 540 2228 david.beaumont@opp-connect.com


Mina Mu ✆ +44 (0)203 540 2223 mina.mu@opp-connect.com


DESIGN & PRODUCTION Martin Lane ✆ +44 (0)203 540 2218 martin.lane@opp-connect.com


SUBSCRIPTIONS ✆ +44 (0)203 540 2228 subscriptions@opp-connect.com


PUBLISHED BY OPP Media, part of RGG Ltd Chief Executive Xavier Wiggins ✆ +44 (0)203 540 2222 xavier.wiggins@opp-connect.com


Group editor John Howell


It is hard to believe that somebody – understandably, no one seems prepared to confess who – has made such a monumental mess of dealing with the question of the protection of bank deposits. We all thought the rules within the EU were clear. If you bank with an EU bank and it goes bust, any deposit up to €100,000 is protected. Anything over €100,000 is at risk.


T


Suddenly it looked like this might not prove to be true. At the last minute, the government came back into line – but, by then, the damage had been done.


Even now, and inevitably, people with over €100,000 stand to lose a large (but uncertain) amount of their money.


This, of course, all has a huge impact on those thinking of retiring abroad and the uncertainty damages the credibility not only of the Cypriot banking system but also those in all other European countries, particularly


here is no doubt about what’s on the industry’s mind as I write this editorial. Cyprus.


Europe: prepare for a rough ride


The drama unfolding in Cyprus is bad news for Europe – what will be the knock-on consequences for tourism and investment in the EU?


those in distress such as Greece, Portugal, Ireland, Spain and Italy. What a mess! This chaos and uncertainty could not come at a worse time for the governments of countries such as Spain and Portugal, who are trying – and trying very hard – to put together coherent plans to boost both tourism and the international property industry. Interestingly, they are now, at last, working closely with the industry to make, fi ne-tune and market these plans. They look pretty optimistic (unrealistic?) but the dithering over Cyprus won’t help at all. Tourism, and the role of residential tourism, has been a bit of a theme this month. Almost all of the developers I have spoken to are pressing ahead with ‘resorts’, to encourage investment buyers looking for a better income fl ow model and the topic has been much discussed at the various hotel and investment conferences that have taken place.


It also seems to still be exercising minds at the UK Financial Services Authority, who are working to clarify what is or is not covered by the infamous collective investment rules, about which we have written a lot. The tourism statistics look impressive. Growing members of tourists spending more money in more countries. The main players all seem very bullish and, interestingly, the message seems fi nally to have got out that residential tourism – people buying and using holiday homes – is one of the most socially and fi nancially benefi cial forms of tourism. The industry needs to look at this subject more closely and OPP will be keeping a close eye on developments in this sector. A high point in my month has been my discussions with a number of developers operating Brazilian “’Minha Casa, Minha Vida” social housing projects. On the fourth anniversary of


the introduction of the programme, over 1 million houses have already been delivered – changing the lives of several million people. Not only that but a lot (though not all) of the property is of much higher quality than I had expected. That is an impressive record from a standing start. See the article at pages 42-45. Strangely, two very different developers in two very different countries (Egypt and Brazil) made the same comment about social housing projects: “It is nice to make a living by doing something worthwhile”. Is this the reality or is there, as some are suggesting, a lurking nastiness and danger in the way some of the Brazilian projects are being run?


Another great development this month is the soft launch of our new OPP Training service. I expect this to become an important part of OPP’s activities by the end of 2013. This industry is going through such rapid change that training has never been more necessary. Will the industry seize the opportunity? See pages 12-13. Your feedback will be much appreciated. This month I seem to have been travelling almost without a break. Next month, things look a little calmer. Thank God! I can live without these 3am starts.


This will also give us more time


to fi nalise the plans for the new look OPP, due to be launched in June. I am looking forward to this as it will mark the fi rst anniversary of my arrival as editor and will complete (and add to) the changes I planned when I took up the post. Finally, you will see that OPP has


moved. We’ve not moved very far. Only about 5km. But we have gone back to our roots in Richmond Green and we will now have enough space for our staff and better working conditions. Please note the new address.


© Copyright RGG Ltd. No reproduction in whole or in part without written permission. The Publisher cannot be held liable for any loss suffered as a result of information held herein, accepts no liability for views expressed by contributors and advertisers, undertakes that prices were correct at time of going to press and neither accept responsibility for loss or damage to unsolicited material nor return it without an SAE. No product or service advertised and/or publicised and/or appearing in The Overseas Property Professional magazine is, unless expressly stated to the contrary, endorsed by and/or otherwise associated with the Overseas Property Professional (OPP) brand. OPP Magazine is printed by Pensord. Please note that the cost of a yearly subscription to OPP is £71.50 (UK), £110.50 (Europe) and £123.50 (rest of the world).


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68