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Overseas Property News
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Rising inflation will mean dearer mortgages
Country: France; Italy; Portugal; Spain
17 June 2008
Inflation in the Eurozone reached a 12-year high of 3.7% in May, up from 3.3% in April, due to higher fuel and food costs, according to the Eurostat statistical office.
The news will disappoint prospective property purchasers across the Eurozone, as rising inflation is likely to result in higher interest rates, which currently stand at 4%. This in turn will force up mortgage borrowing rates, as lenders will pass on rising borrowing costs through the money markets.
European Central Bank President Jean-Claude Trichet indicated that an interest rate rise was possible at its next meeting. He said: "We considered that after having carefully examined the situation, we could decide to move our rates by a small amount in our next meeting in order to secure the solid anchoring of inflation expectations.”
A spokesperson for Eurostat commented: “The main driver of inflation last month was an increase in food prices, which were up 6.4%, and transport costs, which were 5.9% higher. Central banks around the world have been struggling to keep inflation under control as food and oil prices rise. This has led to growing pressure to increase interest rates to counteract the rise of inflation.”
Jennifer McKeown at consultancy Capital Economics added: "A rate increase next month looks like a done deal but the fact that core inflation remains subdued supports the view that the move will be a one-off.”
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Autignac: Nice village with all shops, 15 minutes from Beziers, 20 minutes from the motorway and 30 minutes from the coast.
Flat leisure land of 10 000 m2 located 500 m of a village with all amenities.
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Price: £22,000
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Type: Apartment
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World Class Chateau Estate in idlyllic French Lake District* Non-Status Finance*150% Guaranteed Buy-Back* 8% guaranteed return years 1-2 *8%+ NET return year 3 onwards*Spa, Golf, Outdoor pursuits*Buy via your SIPP*Immediate income*I am an investor
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Price: £26,582
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Type: Apartment
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Flat leisure land of 18 000 m2 located 500 m of a village with alla amenities.
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Price: £28,000
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Type: Apartment
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Bedrooms: 1
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Make your pension work harder with 13.6% NET return pa via a SIPP*0% Non-Status Finance*Exit Strategy with 150% Return on Your Capital Investment*200% NET return over 10 years*Investment so brilliant I have bought one myself*Only 6 units left
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Price: £28,000
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Type: Apartment
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Price: £29,074
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Type: House
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In a hamlet at 5 minutes from Lamalou les Bains, stone house to renovate with possibility to make 90 m2 of living space on a plot of about 100 m2.
Ground = Courtyard/garden of 30 m2 + ruine of about 70 m2 ground surface.
1st = Possibility to make a
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Price: £29,240
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Type: Apartment
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Autignac : Nice village with all shops, 15 minutes from Beziers, 20 minutes from the motorway and 30 minutes from the coast.
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Price: £33,219
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Type: House
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Village with cafe / restaurant and small grocery store, 10 minutes from major shops and 30 minutes from Beziers, the highway and the sea.
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Price: £33,228
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Type: House
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Bedrooms: 2
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This village house is situated in a village in the north of the Gers. Property for total renovation. The house, of approx. 109 m2, currently consists of 4 rooms with two separate entrances.
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