When Brits first began scouring Europe for a second home abroad all those years ago it was old properties in need of renovation that were firmly at the top of the buyer's menu. From dilapidated chateaux in rural France to crumbling fincas in Spain, the challenge of purchasing a property which could be transformed from ruin to palace was one many Brits took on with glee. Not only did purchasing an aged property give the buyer a chance to create the house they had always dreamed of owning but, perhaps more importantly, they were also cheap – to purchase, anyway: the cost of renovating was, and still is, another matter entirely.

Fast-forward to the present day and the tastes of British second home seekers have changed. In recent years, due to a combination of fewer ruins now being available and a growing realisation that buying an old home in need of renovation is not necessarily the cheaper option, an increasing number of Brits have decided that newly built properties are often a more enticing option when it comes to parting with their hard-earned cash. Of course, the fact that there is now a much wider choice of countries in which to purchase a property has also added to this change in trend Every year hundreds of new developments are built all over the world, with each developer's mandate being to attract investment from overseas property purchasers. But, while all of these will have their unique selling points that will appeal to certain individuals, every so often there comes along a development that just manages to poke its rooftop above the crowd and make buyers really sit up and take notice.

Award winners
One of the best ways a development can catch the attention of the purchasing public's eye is to scoop one of the many property awards which are dished out to some of the most impressive creations each year. Take the Kilada Hills Collection in Greece. In 2004 this development, situated in the Peloponnese just two hour's drive from Athens, won a Bentley Award – often referred to as the 'Oscars of the property awards' – for the Best Greek Development and Best Interior Design (single unit), while in 2005 it was shortlisted for both a RIBA (Royal Institute of British Architects) award and a property industry FIABSI award.
So what is it that has made the Kilada Hills stand out from other developments in the southern Greek region? "The Kilada Hills is a boutique-style collection of contemporary dwellings, with huge windows to invite 180-degree views of the sea and surrounding forest into the living spaces", explains Isabella Gilmartin, marketing director of the development. "Each residence is different from the next by virtue of its location and orientation on the hill the development is situated on and its exterior detailing. However, all the properties blend together, nevertheless, to create a coherent overall design story, while retaining their individuality", adds Gilmartin The properties in the Kilada Hills Collection are particularly noted for the 'breathtaking' views they offer of the surrounding area. In fact, the architect's brief when developing the residencies was to 'maximise the area's stunning sea views and the natural beauty of the local countryside whilst embracing 21st-century architectural styles'. The awards the development has since received would suggest this task has been firmly met.

Another plus point for the development, according to Gilmartin, is its "secluded position within easy reach of local villages and islands for shopping, beach-side tavernas and dining." If there is one major drawback to obtaining this slice of Greek luxury it is that the properties are not likely to be within the budget of everyday buyers. With prices starting from 1.9 million euros (approximately £1.3 million), with a swimming pool included, the chance to get your hands on one of these multiple award-winning properties will be out of reach for many. That said, Gilmartin insists that prices do compare favourably with that of similar property in the area, while she also points out that not only will owners receive privileged access to two local golf courses, currently in their planning stages, but they can also expect rental yields of up to 22,000 euros a week in peak season.

Of course, not all stand-out new developments require you to be millionaires in order to be able to buy property there. In Dubai, a city which epitomises the trend for new build properties – the whole city, it seems, is currently one big new-build development – there are many examples of quality new developments in which properties can be afforded by the not so rich and famous. Ocean Heights is one of these very developments. "In November 2005 Ocean Heights won the Bentley Award for best architecture", says Susan Pelekanou of international property agent Islands Blue. "Winning this award further positions Ocean Heights as one of the most prominent developments on the world scene, and investors can now be even more confident about buying into the development", she adds. Not that it is merely being able to boast about being an award winner that makes this development stand out. "Ocean Heights is an 82-storey towering masterpiece strategically located at the entrance of Dubai Marina", continues Pelekanou. "The design spirals skywards and is dramatically different no matter what angle you view it from. But what really sets it apart is that the elegance of its interiors matches the award-winning and intriguing architecture. When you close your doors and windows, you don't leave the beauty behind, it's all around you in the finish and style of the apartments. Plus, you get to enjoy breathtaking views of the azure-blue sea from any of the 600+ luxury freehold apartments in this build."

With prices for apartments in Ocean Heights starting from £138,000, and with Dubai becoming increasingly popular with tourists, Pelekanou doesn't envisage it will take too long for the award-winning development, which is on track for full completion by 2008, to sell out. "Dubai is now a massive tourist hub and the construction of Dubailand [the world's largest tourist park, covering an area of around three billion square feet] is set to push visitor figures skywards", she says.

Mark Leale of Dubai Luxury Homes, meanwhile, pinpoints the Arabian Crowne and the Windsor Towers – five-star, hotel-style residences, located in the heart of Dubailand itself – as another new Dubai development which will offer massive purchasing potential. With a guaranteed return on investment of eight per cent a year for the first three years, 30 days free use for any owner, and prices for two-bedroom apartments starting at £205,900, Leale believes this may just prove to be the most exciting of the many new developments taking place in the emirate city. "This is a unique opportunity to own a five-star property in Dubai whilst being guaranteed an annual return on your investment", he says.

Another development located in desert surroundings, El Gouna in Egypt, has also already caught the attention of overseas property purchasers. This popular man-made tourist resort, which consists of a private airport, an 18-hole US PGA golf course, an international school and a 50-bed hospital among many other attractions, has become one of the world's stand-out developments and has ensured its popularity amongst second home seekers. "Thanks to its many amenities El Gouna has now become a self-sufficient tourist reality or, even better, a residential area attracting buyers, investors and tourists from all over the world", explains Gianna Righi of El Gouna Real Estate. "There are various types and sizes of villas and apartments spread right across the El Gouna territory", Righi adds.

The properties in El Gouna are particularly noticeable for their architecture and interior design, for which they have won a variety of different awards, and the newest development currently being constructed in the Egyptian resort, the South Marina Project, will not be any different. It will feature 11 modern Nubian-style villas and 16 blocks of different apartments, all designed by world renowned and award-winning architects. "The South Marina project is an enclosed gated complex located in the heart of El Gouna", continues Righi. "The main entrance to this exclusive and sophisticated residential complex will have private access from a side road, and the shape of the whole project reminds one of the famous Italian gardens, with alleys, green areas and water pools." Prices for property in the new South Marina development are also extremely affordable. Modern, fully furnished and equipped Nubian three-bedroom villas with pool and pool deck cost from £130,000, while prices for the apartments start even cheaper, at £100,000.

Something worth talking about
Awards aside, another factor which can go some way towards making one development stand out from another is how much it is being anticipated. The Lusort project, currently being developed at Vilamoura on the Algarve, is being heralded as one of the most important and biggest developments to ever take place in Portugal and will be designed to cater for 6,000 residents and 600,000 tourist visitors a year. Over 434,000 square metres has been set aside for the development of hundreds of new dwellings, which will range in size from one-bedroom apartments to individual land plots of over 4,000 square metres.
Moreover, a further 213,000 square metres has been earmarked for the construction of tourist villages and hotels and 24,000 square metres for various shopping and leisure centres. Of the properties that will eventually be built in the development, four per cent will be single-family houses situated in only the most exclusive areas of the project, 11 per cent will be semi-detached houses, 7.5 per cent will be maisonettes, while the remainder will be apartment blocks ranging in size from two-to-four storeys tall.

Among the main attractions of Lusort is that it is surrounded by five 18-hole golf courses within a three kilometre radius of each other – the Algarve was voted the best destination in the world for golf in 2002 by the  International Association of Golf Tour Operators – and the close proximity of Vilamoura Marina – the largest marina in Portugal with a capacity for 1,000 boats.

Further afield, the Caicos Beach Club Resort and Marina on the island of South Caicos in the Turks and Caicos Islands is widely regarded as being the 'Best Investment in the Caribbean'. Spanning over one hundred acres of the South Caicos peninsula, properties situated within this resort offer owners stunning ocean views, and are located right next to the talcum white beaches for which the Caribbean is famous. "The purchase of real estate in the Turks and Caicos Islands has recently been attracting worldwide attention", points out Dawn Van Malleghem of Turks and Caicos Equities Ltd. "In some cases this interest is based on the Islands' tax-haven status and also because the Turks and Caicos Islands' off-shore legislation is progressive – particularly in the area of residency. There are no restrictions on the purchase and ownership of property by foreign investors." The allure of the development is enhanced by the fact that interested buyers who get in quick can purchase their Caribbean crib at below its usual expected market value. "The average price for a one-bedroom unit with an ocean view on the Turks and Caicos Islands is currently around US$500,000 [approximately £290,000]", Van Malleghem continues. "However, the prices for a one-bedroom apartment with an ocean view at the Caicos Beach Club Resort and Marina start from US$269,000 [approximately £157,000]."

Finally, one of the most eagerly anticipated developments currently taking place anywhere in the world is occurring in Hungary's capital, Budapest. "The Marina Part, located in Budapest's District XIII, is the biggest [approximately 3,000 residential units plus many shops, restaurants, etcetera, are being developed], and the only full marina development to ever occur in the city", says Martin Padfield of Hungary Property Ltd. "The development combines the benefits of feeling like a rural location yet being very close to the city centre. It is situated just a two-minute walk away from a six-lane major arterial road running directly into the centre of Budapest, while the Metro is a further one or two minutes away, making the city very accessible", he adds.

Marina Part is being built in four stages with each stage being classed as its own individual development. The first stage was finished in 2005 with the second and third stages both due for completion at some point during 2006. The fourth and final stage, which will be the most opulent part of the development and situated right next to the Marina, is slated for completion in the summer of 2007. While the development has not yet won any awards – simply because it hasn't been entered for any –  Padfield is happy to state that it has received recognition nevertheless. "Marina Part has been voted the best development in Budapest by those who really matter, the people of Budapest themselves, via a vote in ReSource magazine, Hungary's leading real estate publication", he says. "People have also voted with their wallets by making it the biggest-selling development in Budapest's history, and it also has more UK and Irish buyers than any other development in Hungary too", Padfield adds.  Prices for a one-bedroom apartment in the Marina Part start from around £47,000, making the average square metre cost of property in the development around £1,300.

Of course, checking to see if a development has won any property awards, or being swayed by the thousands of column inches that have been dedicated to a particular new build, aren't the only ways you should decide whether one new development is any better than another that hasn't been laden with the same awards or received the same amount of coverage. In fact, the only way you can really determine whether a particular property is right for you or not is to go and see what you think of it for yourself. However, should you find yourself not knowing where to start your search for a second home due the plethora of new-build properties that are now available, it is safe to assume that if you do find yourself visiting a widely praised or award-winning development, you probably won't be disappointed.

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For further information:
Kilada Hills
Islands Blue
Dubai Luxury Homes
Dubai Property
El Gouna Real Estate
Lusort
Turks and Caicos Equities Ltd 
Hungary Property Ltd

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Article first published in March 2006