Richard Butler Creagh: Real Estate Abroad Part II

In the previous article (Part 1),  we talked about best locations that are the best places to buy real estate overseas. In “PART 2”, I’ll continue sharing real estate property listing. Here it goes.

Greece.  Investors and people interested in buying real estate abroad are coming to Greece in search of cheap real estate. Due to the economic events the average prices seem to be lower however there a big spread of prices. Crete is the most popular. Real estate prices lower than in Spain and Portugal. New low cost flights to Greece, UK and Crete also determine this.Agios Nicolaos is at the forefront of popular cities to buy real estate in Greece. After this is Elounda, Apokoronas near Chania in Crete, Neapoli and Kerkyra on the island of Corfu.

Italy. Italia is always a "strong" country when it comes to popularity among investors and people interested in buying real estate with an appetite for "Bela Vita". Real estate prices more expensive than Spain and Portugal, with an average price of £254,000. Historic cities, great architecture, great food, all this encourages investors to buy a house or apartment in Italy. Scalea in Calabria in the south of the country. And in the popular Tuscany are cities like Fivizzano, Chianni, Licciana Nardi.

Cyprus.  Still a very popular place for British real estate to buy. The average price of Cyprus property is £133,000. And the most popular places to buy Cyprus property are around Paphos, Peyia, Kato Paphos, Talo and Chloraka. There are not so many new properties being built like in Greece, and it is worth focusing on the secondary market if you are thinking of buying an apartment or house in Cyprus.

Florida. Friendly Florida with English language and Anglo-Saxon culture. Real estate prices soared. The average price of real estate among those looking for in Florida is £385,000. In addition to Miami, where real estate prices are sky high, it's worth heading north to Florida theme parks. Developers and real estate agencies offer properties with a "rent guarantee". And prices around Orlando are still "reasonable" for a European and it is worth investing there, for example, in an apartment for rent.

Barbados. Not everyone is bothered by over 7h flight from Europe and high real estate prices, but Barbados is still strong investment place. The strong roots of the British community and high property prices within £350,000 do not alienate buyers and investors. The most popular places to buy real estate in Barbados are Westmoreland, Sandy Line, and Holetown. Also, around Mullins and Speighstown. It always was and is an exclusive place to invest capital.

Richard Butler Creagh helps companies to raise finance in ways that is sometimes out of reach for mainstream lenders. Getting bridging finance is a big financial decision and choosing the right provider is crucial. Have a look Richard Butler Creagh website here. Check out the Richard Butler Creagh Twitter page to learn everything you need to know about bridging loans & short term finance. Richard Butler Creagh also has a library of real life bridging finance scenarios showing how bridging finance lenders have helped a range of diverse clients here. You can also learn more about bridging finance by reading Richard Butler Creagh indepth guides about all aspects of bridging loans here.

 

Richard Butler Creagh: Real estate abroad

The British – as you probably know, lead the nations that buy real estate abroad. And they mainly drive real estate markets in the most popular locations to buy real estate not only in Europe but also in the world. The best example of this is the Spanish real estate market.

Buying real estate aboard is not only an apartment or holiday home, but also as a capital investment and as an investment that is expected to bring stable cash flow from real estate.

If you are interested in real estate markets around the world it is worth looking at some facts and statistics. Over the past few years, the same countries are in the top most popular places to invest in real estate in the world.

Spain. The most favourite destination for buying property, by English investors and families looking for a second home for vacation or moving to Spain. Spain has been the number 1 property buyer abroad for many years. It is a place for those who are looking for a Life in a warm country. Property prices in Spain have been rising steadily over the past few years and still, Spain remains relatively cheap compared to other warm countries. The average property price in Spain in 2018 was £117,131. Which places are the most popular in Spain for buying property abroad by foreigners? Most foreigners buy real estate in Torrevieja on the southern Costa Blanca. Next is Camposol near Murcia. The town of Estepona on the Costa del Sol, Villamartin on the Costa Blanca near Orihuela Costa and Condado de Alhama near Murcia – one more good places to buy a property at a golf course in Spain.

FranceAlthough not as popular as Spain for the purchase of foreign real estate, France among the British “home buyers” occupies a leading place in our statistics and portal “Home in the Sun”. Closeness, beautiful properties and charming locations are decisive. Both in the south of France on the Cote d’Azur and the northern outskirts of France. The profile of a client looking for real estate in France is slightly different than, for example, Spain. They are mainly people looking for real estate for retirement. “Full time” pensioners who are looking for a quiet life in France, mainly in rural locations. Farms, country houses and country properties are selling. The average property price in France was £137,000. It’s still more attractive real estate prices compared to Great Britain. In addition to the Cote d’Azur, the most popular places to buy real estate are Britain in the north of France and around Nancy and Morbihan.

Portugal. Real estate in Portugal is not cheap in Europe. Portugal is more expensive than Spain and France. The average price of real estate is £220,000. According to data from “Home in the Sun”. Buyers with a higher budget seem to be choosing Portugal to buy a holiday home. Great climate, friendly nation, beautiful scenery of the south of the country, i.e. the coast of the Algarve. Real estate maintenance costs in Portugal are also higher than in Spain. Albufeira, Faro and Portimao are cities that the British choose to buy property in Portugal. Poles are also buying property in the Algarve.

Check back for more!

Richard Butler Creagh helps companies to raise finance in ways that is sometimes out of reach for mainstream lenders. Getting bridging finance is a big financial decision and choosing the right provider is crucial. Have a look Richard Butler Creagh website here. Check out the Richard Butler Creagh Twitter page to learn everything you need to know about bridging loans & short term finance. Richard Butler Creagh also has a library of real life bridging finance scenarios showing how bridging finance lenders have helped a range of diverse clients here. You can also learn more about bridging finance by reading Richard Butler Creagh indepth guides about all aspects of bridging loans here.

 

Richard Butler Creagh: How are the UK’s talks with the EU going?

Here is the latest news from Richard Butler Creagh.

EU officials say the UK is “dancing around the issues” in talks in Brussels on a Brexit deal. Boris Johnson’s government is seeking to renegotiate the withdrawal deal agreed by his predecessor, Theresa May, but discussions so far have been at a very general level. The EU maintains the text of the withdrawal agreement is closed but it is still listening.

“The UK wants a less involved relationship,” says one EU source close to the talks, “but it’s not clear what that means in practice.” The prime minister’s Brexit envoy, David Frost, is back in Brussels this week for further talks but time is running short. UK officials say criticism of their approach, from the EU side, is unfair.

“We’re having conversations this week which pick up on last week’s discussions,” one official says, “and we’ve agreed where to focus talks in the future.” That means the focus is still in Brussels.

So far this week, the UK side says it has presented ideas on customs and manufactured goods, while there has been further discussion on the non-binding political declaration which sits alongside the withdrawal agreement and outlines the future relationship between the two sides. But while the government says progress is being made, the EU insists no formal proposals have been tabled.

Clock ticking

There is also a sense from those involved in the talks the UK’s desire for a looser relationship involves not just economic issues but defence and security too. All of this exasperates the EU. There is plenty of churn behind the scenes but little certainty about anything.

Philip Rycroft, who was until recently the permanent secretary at the Department for Exiting the European Union, says it will be very difficult to get a deal done by mid-October.

If the EU were to shift position on any issue, it would want some degree of confidence a new deal could win the approval of the UK Parliament. That could mean waiting for a general election – but if anything is going to be achieved in these talks, it is going to have to happen pretty quickly.

Future relationship

As well as replacing the backstop, Boris Johnson wants a clearer path to what he calls a “best-in-class” Canada-style free-trade agreement with the EU in the future.

But it has been made clear during the talks in Brussels that this would involve the UK getting rid of many “level playing field” elements – promises agreed by Theresa May to stick close to EU rules on things such as subsidies for business, workers’ rights and environmental rules.

Richard Butler Creagh is the founder of Henley Finance and has been one of the first people in the UK to identify the need for reliable and fast bridging finance. In all its forms, Richard Butler Creagh also designed this blog for readers who want to know what’s going on in the British news helping you to keep abreast of events and form your own opinion of the latest issues. Richard Butler Creagh also gathers and reflects on news as it happens, adding depth and context to breaking stories on the Richard Butler Creagh Twitter page here. Keep up to date with what’s happening on the Richard Butler Creagh Linkedin page here.

When Brussels decided to end tax avoiding practices, Britain decided to leave the EU.

Here is the latest news from Richard Butler Creagh. .. When Brussels decided to end tax avoiding practices, Britain decided to leave the EU.

David Cameron wanted Great Britain to remain in the European Union, however, his frail campaign failed because he never informed the British voters of the biggest advantage of staying, which is EU’s new Anti Tax Avoidance Directive.

To convince the British people to vote remain, Mr Cameron had to remind them that by staying in the EU, his government would have had to implement EU’s Anti Tax Avoidance Directive by the year 2019, by enacting new laws and collecting taxes from everyone, including our tax-dodging billionaires.

However, throughout his political career, Mr Cameron wasn’t keen on ending extreme austerity measures by collecting taxes from the wealthy elite registered in tax havens.

Every time the EU undertook momentous actions to end tax-avoidance amongst its member states, Mr Cameron responded by issuing his momentous announcements regarding the British EU referendum.

In January of 2013, Brussels produced a concrete action plan for a new EU directive that would end tax-avoiding practices amongst its member states, and within a month, Mr Cameron confirmed that he favours an EU-referendum, stating:

“And I want us to be pushing to exempt Europe’s smallest entrepreneurial companies from more EU Directives.”

Within that year, Mr Cameron undertook his first push to exempt Europe’s smallest entrepreneurial companies from more EU Directives, by request from the President of the European Council to exclude offshore trusts from the EU’s new Anti Tax Avoidance Directive.

“David Cameron intervened personally to prevent offshore trusts from being dragged into an EU-wide crackdown on tax avoidance, it has emerged. In a 2013 letter to the then president of the European Council, Herman Van Rompuy, the prime minister said that trusts should not automatically be subject to the same transparency requirements as companies.”

Mr Cameron announced the date for the EU referendum soon after the exact details of the EU’s Anti–Tax Avoidance Directive were revealed.

The European Commission presented its proposal for the Anti–Tax Avoidance Directive on January 28th of 2016, and within a month, Mr Cameron announced the date for the EU referendum.

Shortly afterwards, Theresa Villiers, Priti Patel, Michael Gove, Iain Duncan Smith, Chris Grayling, and John Whittingdale appeared at the Vote Leave headquarters, holding a banner with a slogan “Let’s take back control”. Speaking on behalf of six Tory Brexiteers, Grayling explained that they want to restore the sovereignty of the British nation.

Backed by The Sun, Daily Mail, Sunday Times, Daily Express and Telegraph, which are owned by tax-avoiding media tycoons, Tory Brexiteers managed to protect the sovereignty of our wealthy tax-dodgers from the new EU Anti Tax Avoidance Directive.

At Prime Minister’s Questions, Mr Cameron defended the offshore low tax rates, claiming:

“We’re happy to support blacklists but we don’t think we should draw up a blacklist solely on the basis of a territory raising a low tax rate – we don’t think that’s the right approach.”

In fact, ever since he announced his U-turn on the EU-referendum in 2013, Mr Cameron spent his time exclusively in the company of executive officials of the British pro-Brexit press, which are owned by wealthy tax-avoiding billionaires who felt threatened by the new EU Directive intended to bring an end to their tax avoiding practices.

According to Press Gazette throughout 2013, 2014 and 2015, Mr Cameron and George Osborne intensified their discussions with the pro-Brexit press.

“Of the 23 meetings between October 2014 and September 2015, eight were with News Corporation executives, five with the BBC or BBC Trust and four with Telegraph Media Group.”

As someone who campaigned to remain in the EU, one might have expected that Mr Cameron would coordinate his campaign and meet with the pro-EU press, such as the Independent, Guardian, Financial Times, etc. Instead, Mr Cameron spent most of his time in the company of the executive officials of the pro-Brexit press, as follows:

News Coorp., which controls The Times, The Sunday Times and The Sun

  • February 2015, Mr Cameron met with Robert Thomson, News Corporation chief executive, general discussion
  • July 2015 – Mr Cameron met with Robert Thomson, general discussion

Telegraph Media Group, which controls The Daily Telegraph and The Sunday Telegraph

  • February 2013 – Mr Cameron met with Murdoch MacLennan, Guy Black (with John Witherow and Lionel Barber), to discuss Leveson Report
  • April 2013 – Mr Cameron met with Aidan Barclay, general discussion
  • September 2013 – Mr Cameron met with Murdoch MacLennan (with Tony Gallagher and Ian MacGregor), general discussion
  • November 2013 – Mr Cameron met with Sir David Barclay, Telegraph owner, dinner
  • May 2014 – Mr Cameron met with Aidan Barclay, general discussion
  • October 2014 – Mr Cameron met with Aidan Barclay (with Fizzy Barclay), dinner
  • January 2015 – Mr Cameron met with Aidan Barclay, general discussion

Express newspapers, which controls the Daily Star and Daily Express

  • October 2013 – Mr Cameron met with Richard Desmond, general discussion
  • January 2015 – Mr Cameron met with Richard Desmond, general discussion
    Daily Mail
  • October 2014 – Mr Cameron met with Lord Rothermere (with Paul Dacre), chairman and owner of Daily Mail and General Trust, dinner

David Cameron is a classic Jekyll & Hyde example, publicly campaigning to remain in the EU and secretly spending most of his time with people who campaigned to leave the EU.

On March 25th of 2015, Members of European Parliament representing Mr Cameron’s party, UKIP and DUP voted against EU’s plans to crack down on corporate tax-dodging, by making companies report where they make their profits and pay taxes.

“From Britain, Conservative, UKIP, and DUP MEPs voted against the report, though many did not show up or not vote.”

Even Mr Farage’s UKIP, the party who rambled on as being the only UK party to speak out for Britain’s little people, in the European Parliament, instead of the people they pledged to represent, they voted to protect the vested interests of the wealthy elite, who refuse to pay their tax contributions.

Apparently, Mr Farage also tried to avoid paying his taxes through an offshore trust fund.

“The 49-year-old paid a tax adviser to create the Farage Family Educational Trust 1654 in the tax haven – which he intended to channel funds through.”

Reflecting on the Supreme Court’s decision that the British Parliament must decide whether or not to trigger Article 50, Mr Farage revealed the crucial aspect of his Brexit campaign, stating:

“Well, we would be half-Brexiting is my guess – is that legally we may get out of some aspects of EU membership, but if we stay in the single market, we finish up with all our businesses being regulated somewhere else and indeed a court in Luxembourg that can overrule our own Supreme Court and if that happens it will a supreme act of betrayal.”

The European Court of Justice in Luxembourg is responsible for ensuring that EU directives are interpreted and applied in the same way in every member state, including EU’s Anti Tax Avoidance Directive.

The following link has been added on June 21, 2018, to clarify that compared to British tax havens, the new EU Anti Tax Avoidance Directive will not have much impact on Luxembourg’s and Malta’s tax havens.

Here is an extract of the link provided:

“Of course, Brexiteers continue to argue that the President of the European Commission, Jean-Claude Juncker, attempted to block EU’s clampdown on tax avoidance… However, once he became the President of the European Commission in 2013, Juncker’s institution has been actively engaged in drafting new legal framework to tackle the increasing and aggressive tax avoidance… Besides, compared to the British tax havens that are mostly used by the British greedy wealthy elite, Luxembourg serves as a tax haven mostly for non-EU citizens and businesses. Therefore, the EU’s new Anti Tax Avoidance Directive will not have much impact in Luxembourg or Malta, because it targets only individuals or businesses that generate profits from one of their member states.”

Richard Butler Creagh is the founder of Henley Finance, a short-term bridging finance company specialising in loans for the professional property developer. If you’re seeking bridging support, talk to us via the Richard Butler Creagh website here. Check out Richard Butler Creaghs Crunchbase page here to learn everything you need to know about Richard and bridging loans here.

Don’t forget to subscribe to the Richard Butler Creagh Youtube channel here

Richard Butler Creagh: Negative interest rates

The market is showing it’s impatience as we emerge into economic slowdown. Mankind do not like to postpone the purchase of something we want to have them now. However, we can be incentivised to postpone purchases if the reward is sufficient. For example: I will not buy my dream house now because it is expensive at the moment and in half a year it will be cheaper. Of course, I want to have it right away, immediately, but I am ready to wait, because more money in my pocket encourages us to do so. In the opposite situation, if I knew that in half a year it will be more expensive, then of course I would buy it immediately.

It is exactly the same with saving and interest rates. We keep savings in the bank when we know that we will be able to buy more for them in the future. This occurs when real interest rates are positive. Real rates are the interest on the deposit minus inflation. If we earn 3% a year on the deposit and inflation is 4% a year, then we lose 1% so the real interest rate is -1%. It is obvious that we do not want to stop our consumption if someone tells us: “lend me money for a year, and after a year you will get 1% less”. By this year, we could already enjoy all the things we want to buy for our money. Where’s our encouragement?

This brings us to the monetary policy of central banks. Central banks are lowering interest rates to “stimulate” the economy. In this way they want to stimulate consumption and expenses. The Bank of England’s monetary policy keeps the interest rates at 0.75% and has been very low for years now to stimulate slowing economy. In Europe and Japan, however, it went even further. The European Central Bank, the Central Bank of Japan, the National Bank of Switzerland and the Swedish Riksbank keep interest rates below zero. This is an extreme step in rescuing slowing economy and it is a very vivid sign of emerging slowdown. Experts say that we can experience a 2008 slowdown which can have once again a devastating effect on the economy. First sign of such occurrence is the increased value of gold which is at it’s peak meaning that there is a huge demand for it as people are investing in safe havens, gold being the hard safe haven. If governments are borrowing money on negative interest rates at whatever term the borrowers is being paid to borrow money. This is not repeated into the customer however lower interest rates incentive borrowing and may lead over borrowing and if any of the assets loose value, like houses, recalling capital will be problematic. We might have heard this before a few years ago.

Richard Butler Creagh offers short-term bridging finance company specialising in loans between three months to a year, of between £100,000 to £1,000,000 for the professional property developer. If you’re seeking bridging support and have asset security available, contact  the Richard Butler Creagh via our website here as we offer fast, flexible solutions to your bridging requirements. Check out how interest rates affect the stock market on the Richard Butler Creagh  Pinterest page here. More about the Richard Butler Creagh here.

For fun informative videos about finance visit  and watch the Richard Butler Creagh YouTube Channel or subscribe to view later.

Richard Butler Creagh: Investing in technology

Investing in new green technologies has never been as important as today, and yet many of us believe that these efforts are doomed to failure. It may be one of the safe havens of todays threat of recession.

The rapid technological progress in the United States means that next generation solar panels will be thinner, cheaper and more efficient. Maybe they won’t even be made of silicone. Companies are looking for even more effective ways of obtaining solar energy, for example using long parabolic mirrors that focus light on thin tubes filled with liquid, which – when heated to a sufficiently high temperature – can drive a steam turbine and generate electricity. Spanish and German companies are setting up large solar power plants of this kind in North Africa, Spain and southwestern North America. In California, on a warm summer afternoon, solar power plants are already competing with coal. Europe could obtain most of its energy from power plants operating in the Sahara desert. A new extensive transmission network would be needed.

During certain periods of the past year, wind farms supplied nearly 40 percent of the energy used in Spain. In some regions of northern Germany, wind energy is more than needed. Northern Scotland, where winds reach one of the highest speeds in Europe, could easily meet 10 or even 15 percent of Britain’s energy demand – at a cost that would match today’s fossil fuel prices.

The discontinuous nature of the energy obtained from the wind (once it blows strong, sometimes weaker) means that the energy system would have to be shaped in a different way. To ensure continuity of supply, Europe needs to build a better energy network between regions and countries. Countries with surplus energy from wind easily exported it to places where it doesn’t blow so much. Great Britain should invest in transmission networks, probably underwater, through which the energy generated in Scottish wind farms would reach the south-eastern regions of England and further to France and the Netherlands. If we want maximum energy security, the energy distribution system would have to cover the whole of Europe.

You should also invest in energy storage. There is talk of the development of “intelligent systems” that encourage consumers to save energy when wind speed slows down. In many countries, acquiring wind energy is already financially profitable today and will soon stand – because turbines will be increasing and producers will reduce costs. According to some forecasts that wind farms can meet energy demand by up to 30 percent, turbine production and installation will also become a significant source of employment.

Check back for more!

Richard Butler Creagh is the founder of Henley Finance and has a very triumphant career in property development. Hes goal is to assist anyone working in a small business make smart decisions about finance, products, services and ideas. Whether it’s a food truck or a fashion line, a coffee shop or a consulting firm, Richard Butler Creagh brings you concise, actionable  information you can use to make the daily decisions required to grow your business.  You can also read more about Richard Butler Creagh here.

You can watch the Richard Butler Creagh YouTube Channel below or subscribe to view later.

Richard Butler Creagh News

2018 was a great year for Henley Finance. We have financed just over 50 projects with a total loan portfolio of just under £12. It has been a busy year with a lot of challenges and learning curves which resulted in many successes.  We have had a lot of new interest in the investment in our projects. We have proven ourselves to be an extremely reliable source of income for our investors and a safe one too. We have not lost any capital on any project as our experience and relationship with the borrowers enables to keep a close look at the targets of the project and if those are met.

handshake

In general finance companies, including Henley Finance, invest their client’s capital into securities or lend them. Generally, the higher the risk the higher the reward but also more likelihood of losing capital. Often the stock market is tempting for investors as the returns there are quite significant but also the loses. The property market in the UK has been relatively stable, in the Brexit circumstances. However, the banks have been reluctant in lending money onto high loan to value, which has opened an even bigger niche for bridging finance. The attitude of banks towards lending is rather skeptical. The banks reluctant to finance developments on the value of the project and are keener to look at the value of the property before the project. Big finance companies are less efficient in helping borrowers to finish the project and going through. Henley Finance is known for its individual approach to borrowers and devoting enough time to each project to ensure it completes.

At Henley Finance a highly motivated and experienced team ensures that the processes are being moved smoothly. This enabled to achieve a 30% profit margin on existing loans and over 26% on the entire portfolio with well-balanced security to minimize the risk. Those kinds of returns are unheard of in the banking industry. Last year Bank of America managed to achieve a 3% earning on their portfolio which is ten times lower than the earnings of Henley Finance.

Richard Butler Creagh said “A small team which works efficiently can do more than a large team” this is promotingly because of repetition of tasks cross-checking and general lead times which result in inefficiency. While Henley Finance is looking to expand the aim is to maintain the efficient size to enable high yield for our investors. We have already entered increased our investment portfolio by 10%. With our team, we are confident that the company can handle multiple times the current portfolio and maintaining the current standard of profit and engagement with clients.

To get in touch with Richard, visit the Richard Butler Creagh website. You can also connect with Richard Butler Creagh on his facebook page here. Watch this video to find out more about Henley Finance.