Dear Investor

It was a big night for Manchester United last night and a big day today for the Labour Party in the UK with the by-election in Crewe and Nantwich.  As I wrote a couple of months ago, the UK public finances are in a mess and the electorate knows it.

Although “concerns” about inflation prevented the government honouring a pay award for the police in England and Wales, they decided a few weeks later that inflation was no longer troubling them (although it is rising well above target!) and borrowed a huge sum (£2.7bn) to try and patch up a political problem, which was of their own making in the first place.  In the UK this is known as the “10p tax issue.”

This electoral “bribe” which was announced during a mini budget was a desperate attempt to appease backbench Labour MPs and to save Gordon Brown’s premiership.  Borrowing money for tax cuts is not sound economic policy.  Furthermore, he will have to do it all over again next year in the run-up to the General Election in 2010.  What a mess. It is true to say that the Labour Party has reverted to its long-term trend of economic incompetence!

So why is this relevant for property investors?  Simple – don’t expect an imminent cut in the Bank of England’s base rate.

Busy period

We are extremely busy in the Liverpool office and are recruiting more staff and moving offices as a result.  I can’t remember a period when the phones have been so red hot with property sales, strategy meetings and conference bookings. If you are interested in a position with our group of companies, please call 0151 244 5444 and speak to Valerie.

Annual Conference Saturday 7th June 2008 - London

Our Jet-to-Let Magazine Annual Conference is in London on the 7th June 2008.  We are almost at full capacity for the room, but could take a few more delegates if you are free on the day.  I am really looking forward to it and enjoy these days immensely. We have some fantastic expert speakers, a great venue and lunch and some very experienced investors attending for you to network with and learn from their experiences.

If you would like to take advantage of the credit crunch (which most professionals are doing right now), learn how to raise finance quickly and then invest in the best opportunities, then this conference is a must attend eve

To book your place and for further information about the day, click here:

www.jet-to-let-magazine.com/events

The Palm Spa Resort, Cyprus

We’ve had a huge response from investors and property agents around the globe to the pre-market offer for my latest scheme.  We are presently finalising the price list and launch materials.  This exclusive development just yards from the new golf course has attracted considerable interest.

Features include:

• 24hr Concierge
• Reception
• Health Spa with indoor pool, steam rooms, Jacuzzi, gymnasium and treatment rooms
• Tennis Court
• Central Piazza with two large swimming pools and Jacuzzis
• Landscaped gardens
• Bar and cafe
• Underground car parking
• Only 70 apartments, 1 bedroom and two bedrooms with two bathrooms. Penthouse apartments have large roof terraces with space for a private Jacuzzi.

An office to manage the rentals and property management for all my schemes in the area will be located at The Grove Spa Resort in one of the commercial units I am building next to the development.

In terms of capital growth and rental, this new scheme, like The Grove Spa Resort will be excellent.

For further details of the pre-release offer contact Karon on 0151 244 5444 or visit the website and complete the form:

www.thepalmsparesort.com

Jet-to-Let Magazine 2008 Survey

Finally, I hope you enjoyed the latest issue of Jet-to-Let Magazine.  We issued a press release last week with the findings of the 2008 survey of investor intentions which has been picked up by the trade and general press, including The Telegraph today.  I have reproduced it below if you haven’t yet read it:

Top 10 Property Investment Countries For 2008 Revealed In Jet-To-Let Survey

The top 10 countries of most interest to foreign property investors in 2008 have been revealed in a survey conducted by property investment magazine, Jet-to-Let.

In order to provide an up-to-date snapshot of investor intentions in 2008, Jet-to-Let magazine surveyed 1000 new readers who recently subscribed to their free quarterly investment magazine. The results, which provide an interesting comparison with a similar survey conducted last year, show that investor interest is continuing to shift away from the UK buy-to-let market and towards foreign investment opportunities.

Over 50% of investors said they wish to invest in foreign property in the next 24 months, with 35.8% keen to invest in the next 12 months. The number one country for investors was found to be Cyprus, which is unchanged from 2007, with France and Spain ranked second and third. There were three new entrants this year – Italy, ranked at seven, the United Arab Emirates at eight and Brazil, which came in at tenth place.

Dominic Farrell, editor of Jet-to-Let magazine and author of the bestselling property investment book, The Jet to Let Bible, says he’s not surprised that Cyprus scored the top slot in the survey. “The adoption of the Euro on 1st January 2008, the interest rate cut, oil and gas finds offshore and low taxes continue to make Cyprus very attractive for investors and homebuyers alike,” he says.

“France and Spain will always be in the top three for UK and Irish buyers, but the relegation of Spain to number three reflects the change in market conditions and an erosion of confidence following the recent property market scandals, principally in Marbella,” Dominic explains.

Bulgaria, Poland and Portugal all notably dropped out of the 2008 top 10 league, after being featured in last year’s ratings. According to Dominic, “This reflects the ongoing changes in their respective property markets and the perception by investors that there are better opportunities elsewhere.”

Overall, the survey highlights the fact that interest in foreign investment opportunities is still going strong, helped in part by the inflated housing market in the UK and the small returns on offer here, compared to good returns in other countries.

Summing up the current choices of property investors, Dominic says, “We have seen a significant increase in investing in overseas property since the beginning of 2008, which reflects an ongoing ‘substitution’ away from UK, Irish and US property, as well as equities and other financial products. A well-selected, cashflow-positive property in a country with a sound legal framework and economy will always beat alternative investments hands down.”