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HOLIDAY

Swedes cite unrest in ruling out Turkish homes

Swedish city-dwellers still flock to Spain and France when looking for a second home, with Portugal rising fast in the ranks while the Turkish holiday housing market is set to suffer due to recent unrest, according to a new report.

Swedes cite unrest in ruling out Turkish homes

The new survey by estate agents Fastighetsbyrån found that ten percent of residents in Malmö, Gothenburg, and Stockholm already own a holiday house abroad. A further ten percent plan to join their ranks in the next five years.

“The main reason for this choice is to be in the sun, and to have a swim, but culture and food are also important features,” Fastighetsbyrån spokesman Johan Vesterberg told The Local.

A new report found out that Turkey had tumbled in the ratings for potential holiday homes. Survey respondents cited the recent unrest and concerns about the country’s human rights records as reasons to stay away from the Turkish property market. Some 34 percent specifically mentioned recent turmoil in Istanbul as a turn-off. Almost four of ten Swedes ruled Turkey out as a second-home location, and 36 percent of people who want to buy a second home in the next five years specifically said recent events had made the country less attractive.

Some 1,000 Swedes aged 35 to 65 were interviewed about their plans to buy a second home abroad in the next two to five years. Six percent plan to buy a house within the next two years years, while four percent put the deadline at five years.

The political context was important not only for Swedes’ attitude to Turkey, but also in relation to Spain – still Swedes’ number one holiday home market.

“Sinking housing prices, a strong Swedish krona, and cheap flights means the interest in buying homes in Spain is at a record high,” Fastighetsbyrån’s Spain and France head Daniel Nilsson said in a statement.

The survey also noted that younger Swedes were increasingly interested in second homes abroad, a market which has previously been dominated by older would-be buyers.

Vesterberg said that France, the second most popular, was a traditional pick for Swedes scouting the property market abroad, because the country is already well-known to Swedes. Accessibility was also key, he said.

“They go to Cannes, for instance, because it is easy to get there. And the Cannes Film Festival gives a positive image to the place, but good communications is more important,” Vesterberg told The Local.

The survey showed that Portugal was on the rise among Swedish holiday home seekers, hitting third spot on the most favourite list, as was Croatia, sneaking up on fifth place behind number four Italy.

Elodie Pradet

Follow Elodie on Twitter here

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PROPERTY

How to ensure your French property is insured for storm damage

Storm Ciaran’s property-wrecking passage through France - with another storm forecast for the weekend - may have many people wondering how comprehensive their insurance cover is. 

How to ensure your French property is insured for storm damage

In the wake of Storm Ciaran, thousands of property owners in France are preparing insurance claims – with initial estimates of the bill for damage between €370 million and €480 million.

Home insurance is compulsory in France, whether you own the property you live in or you rent – and it must include some level of storm damage cover. 

Check also to see if your insurance provides cover in case of a declaration of a catastrophe naturelle.

The garantie tempête (storm guarantee) covers damage caused by violent winds. What constitutes a ‘violent wind’ varies from contract to contract, but there appears to be a widespread consensus of agreement on wind speeds over 100km/h.

In most insurance contracts, this covers damage caused by the storm and within the following 48 hours – so you’re covered if, for example, a tree weakened by the storm comes down within that period and damages your property.

Be aware that, while the storm guarantee automatically covers the main property, it generally only covers any secondary buildings and light constructions – such as a veranda, shed, solar panels, swimming pool or fence – if they are specifically mentioned in the contract. 

The same is true of any cars damaged by debris. A basic insurance contract might not include storm damage, so it is always worth checking.

Damage must be reported to your insurer as quickly as possible. The deadline for making declarations is usually five days after any damage is noticed. This is especially important for second home owners, who may not be at the property when the damage occurs. 

In some cases – such as in the aftermath of Storm Ciaran – insurers may extend the reporting period. But under normal circumstances, it’s five days after the damage has been discovered.

What happens next

To make a claim, the first thing to do is contact your insurer by phone or email. Your insurer will take you through the next steps, but usually you have to send in a declaration – which should include an estimate of any losses and for any repairs, with evidence where possible, such as photographs and any receipts for purchases. 

Your insurer may also request proof of wind intensity, which can be provided for example by a nearby weather station.

The insurance company may appoint an expert to come and assess the damage, so make sure to keep damaged property safe until they arrive, as well as all invoices for any urgent repair work. 

What if you’re a tenant?

If you rent your property, you must report any damage inside the accommodation to your insurer and also notify your landlord so that they can file their own claim. 

In the case of a co-propriete, you must declare damage inside the accommodation to your insurer, while the trustee sends his own declaration to the collective insurance (which sometimes covers the private areas) .

How long does it take for claims to be settled?

Payment of the compensation provided for by the “storm guarantee” depends your home insurance contract. After the insurer has estimated the amount of damage, compensation is generally paid between 10 and 30 days following receipt of the insured’s agreement.

What if we got flooded?

In the case of flooding, you may have to wait for a natural disaster order to be issued. 

Catastrophe naturelle

The ‘state of natural disaster’ is a special procedure that was set up in 1982 so victims of exceptional natural events, such as storms, heavy rain, mudslides and flooding, as well as drought, can be adequately compensated for damage to property.

The government evaluates each area and deems whether it qualifies for the status of catastrophe naturelle (natural disaster). 

Essentially once a zone is declared a natural disaster, victims can claim from a pot of funds created by all insurers. If the zone is not declared a disaster, insurance companies are under no obligation to pay out. 

Under a “state of natural disaster” residents are covered for all those goods and property that are directly damaged by the phenomenon, in this case storms.

It applies to residential or commercial buildings, furniture, vehicles and work equipment that are already covered by insurance policies.

Homes must be already covered by a multi-risk insurance policy for the status of natural disaster to count.

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