Property developments, news and investments

No Need for Luxury

When you stay in a hotel, how much do you really need the ultra-modern gym? Do you dare explore the minibar? And as for the restaurant, do you eat there or are you happy to venture out to find a meal? Would you miss these luxuries if they weren’t there? Probably not, and you’d miss them even less if their absence slashed the price of your bill. Enter Base2stay.com, who have approached hospitality from an entirely original angle by mixing aspects of serviced apartments with boutique hotels to create a comfortable pied-à-terre – with none of the usual lashings and expensive extras. By retaining the comfort of any hotel room, while ditching room service, restaurants and minibars, the cost of your stay will be dramatically reduced while the level of service remains the same as a normal hotel. Perfect for down-to-earth visitors to London, their first property opens this spring in Kensington, a stone’s throw from the Royal Albert Hall, Harrods and amenities such as supermarkets and gyms. Rooms start from ¤118 per night for a single, saving you money on the usual garnish – mints on your pillow indeed.

Economical with the Truth

Nowhere are the nuances of language distorted to deceive more than in the world of real estate. Luckily insider expert Miles Shipside, from the property website Rigthmove.co.uk is offering the world a simple guide to help decipher this elusive phraseology. For example, if an estate agent talks about the local amenities (schools, supermarkets etc), it should set alarm bells ringing that the house itself is not worth talking about. “Has potential” may excite your DIY juices when you hear it, but essentially this means the place is a dump and in need of extensive work. The Property Descriptions Act of 1991 states that it is illegal to deceive buyers when describing a property, which has led to all this slippery argot, and occasionally lawsuits have been successfully brought against estate agents. Finally, should anything in the property be described as “colourful”, run for the hills; whatever the colour is, you won’t be able to stand it (think lurid-green or asparagus-grey).

Une maison, s’il vous plaît

The French housing market has become one of the most vibrant property sectors in the EU, according to a 2005 study by the Royal Institute of Chartered Surveyors. The price of French property has been rising for more than eight years now, since 1997, and the increase is accelerating. During this period, nominal prices have doubled nationally, with almost half of the increase occurring in the last three years. With a healthy property market and a quality of life that is the envy of the world, France has experienced a steady increase in the number of international property buyers. Official statistics show that one in five new homeowners are foreigners. These buyers have been attracted to France for a number of reasons, including historically low interest rates and easy access thanks to low cost airfares. For those considering a move, the French Government has also simplified the process for foreign citizens, and recent reforms have made it much easier for international executives and those with families to relocate. The measures include the automatic issuing of working visas for spouses of executives – an appealing proposition for today’s global business world. Maybe it’s time to dust off those French books.