CHARACTER BUILDING; OVERSEAS PROPERTY; Buyers Now Want Second Homes with Personality, Potential and a Pretty View, Says Gwenda Brophy

Daily Mail (London), November 12, 2010 | Go to article overview

CHARACTER BUILDING; OVERSEAS PROPERTY; Buyers Now Want Second Homes with Personality, Potential and a Pretty View, Says Gwenda Brophy


Byline: Gwenda Brophy

FOR Britons considering buying an overseas property, the overriding priorities have always been guaranteed sunshine and a convenient, accessible base.

Never mind that what they bought was an identikit apartment or just one property within a large development.

However, over-development and falling values has made this type of property a less attractive proposition.

As a result, many buyers are looking for homes with character.

Many of those who have bought abroad have gained in confidence and are now seeking something unique, a property with its own story to tell.

And they have the inside knowledge and experience to find something off the beaten track.

Andrew Hawkins, head of international at Chesterton Humberts, sees the trend as being part of a more considered approach to buying, grounded in the realities of the market.

'Buyers are seeing an overseas property as a mid to long-term investment, making it more of a lifestyle purchase,' he says.

'Since the recession, high-volume, new-build properties that are identical in style have been slower to sell as buyer numbers have decreased and properties are forced to compete against each other. As a result, characterful properties have fared much better.'

Ann Wright, international development manager of agents Primelocation International, also sees British buyers becoming keener to broaden their horizons. 'While overseas buy-to-let investors prefer to play it safe, buying standard apartments and villas, second-home owners are increasingly looking for a property with individuality.

'Those that have retained some of their original features are always popular.'

Jan and Andy Pratt are part of this adventurous new breed. They bought their first property in Majorca several years ago.

'It was a new-build in a pretty setting and came with everything you'd expect, including a swimming pool.

'But we felt we were either too young for the location, because there were plenty of older people, or not young enough, as we didn't have children of school age.

'We realised what we really wanted was a property that would allow us to express our style.'

The Pratts began their search in the old Town of the city of Palma, where they discovered a house tucked away in a quiet corner, but only minutes from some of the bustling squares in the city.

'We loved the fact there was so much history around us -- including the old catacombs, tunnels that link to other big houses and palaces below the streets. The property was pretty much a wreck when we found it, with pigeon lofts and animal troughs on the terrace.What is now our kitchen had apparently been used as a brothel.

'The ground floor had been a print works, with an enormous ancient press; that is now the garage.

'We knew we'd found something different, but it also had generous outside living space and great views. There was parking within the building, a lift to the front door and privacy.'

THE duplex property that Jan and Andy bought has been turned into a beautifully restored home with two bedrooms, both ensuite, a large living room and open-plan hall.

The kitchen and indoor dining area lead on to a large private terrace with built-in seating for outside eating and relaxation.

'The views across the rooftops are spectacular. We can watch the sun setting behind the cathedral,' says Mrs Pratt. 'At night, the churches are floodlit and you can see cruise ships lit up in the dock.'

Now feeling the need for another challenge, they have put the property on the market, priced at [pounds sterling]1.08 million, through Shortcuts Property Search.

Restoration specialists Sextantio in Abruzzo, central Italy, is typical of the companies trying to offer something different. It has transformed a fortified medieval village, restoring a number of characterful homes with courtyards, patios and alleyways, surrounded by pastures and fields. …

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