Travellers 'could be drawn to cinematic destinations'

Thu, 20 Dec 2007 00:00:00 GMT

Destinations featured in popular movies could benefit from something of a tourism boom next year, according to the Association of British Travel Agents.

The organisation claims that tourists may be inspired to visit the countries they see in films in 2008 as they look for new and exciting places to visit.

This could boost opportunities for property investors looking for new places to purchase rental accommodation or holiday homes as demand is likely to increase.

Baz Luhrman's epic Australia for example could pique travellers' interests and encourage them to travel to the country to discover more about its fascinating history.

Meanwhile the film adaptation of the Alex McCall Smith novel No 1 Ladies' Detective Agency may attract more tourists to Botswana where the book, and hence the movie, is set.

The effect of film on tourism has been seen in England where according to UK Film Council movies such as Harry Potter have led to an impressive rise in visitors to the locations featured.

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FTBs 'struggle' in South Africa

Tue, 14 Aug 2007 00:00:00 GMT

South African first-time buyers (FTBs) are struggling to make their first step onto the property ladder, a new report states.

The First National Bank residential barometer briefing, released on Monday, states that FTBs are increasingly finding it a struggle because they are being hit by affordability constraints.

In the middle of 2005, FTBs accounted for 32 per cent of all house sales - but this proportion stood at a comparatively paltry 16 per cent in the second quarter of this year, the study states.

"The combination of the National Credit Act (NCA) and recent interest rate hikes has curtailed activity in this segment of the market, due to stringent affordability assessments and qualifying criteria," a briefing statement read.

Real estate professionals say that the lack of availability of affordable credit is acting as a barrier at the lower end of the market.

"Sixty-seven per cent [of real estate professionals] claim qualification and affordability issues are becoming significant hurdles for this market to secure funding," the report states.

"However, industry professionals operating in the upper end of the market affirm that their customers are more immune to the effects of the NCA, largely due to the proportion of cash buyers in this market."

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Travellers 'could be drawn to cinematic destinations'

FTBs 'struggle' in South Africa