Investment property abroad

[callmemonkey]

I have purchased in southern Spain in 2004 and sold for a decent profit, although the fact that I knew some reliable agents out there really helped. The market there is not good now though and very pricey. You really need to find the next up and coming areas if you want to maximise your investment. I know someone who bought a 3 bed house in Slovakia for well under £20,000. His wife is from there so that helped with the research. I am doing some web work for a company that sell in Calabria, southern Italy. You can check my profile to see the URL and get some info (if thats allowed on here).

It's very important to work out how much a rental property will bring in, never expect the return to pay the mortgage. Some people are lucky to rent properties out for 4 weeks a year if the area is saturated with similar rental properties. Look out for 'For Sale' signs everywhere .

Most importantly do plenty of research, get good legal advice, speak to other owners in the area if you can and remember about extra taxes when you buy and sell, the agents probably wont mention too much about those. If agents talk of huge price rises that will continue, ask for proof of sales in the area similar to the information we can get from the Land Registry.

[brian]

Good points, and welcome to Property Watch.

[tetka17@hotmail.com]

HI everyone! One of the biggest steps in people’s lives is the purchase or sale of a home or investment property, and this is especially true when investing in a foreign country.
I will try to give you my reasons why to invest in Dubai.
• First of all is future demand: Population is destined to increase from 1m to 3m whilst tourism will also triple from 6m to 15m, by 2010
• Also there is future supply: to manage the demand-supply ratio carefully thus maintain strong growth & returns it is Government controlled
• 0% Capital Gains Tax
• 0% Rental Income Tax
• Reagarding to Legal & Notary Fees: None required, although legal advice is recommended
• 1.5% Land Registration Tax is paid to the Government on completion
• 1-7% Transfer Fee is paid to developer on resale of contract before completion
• Simple buying process. No Company formation is no National registration required
• Payment Structure: Following an initial reservation deposit, a deferred payment structure is usually provided by the developer with payments spread over the construction period
• Finance: This is available to non-UAE residents only on certain projects, with competitive interest rates from 6 - 9%, and usually with 15 yr terms and reasonable conditions
• Capital Appreciation: Recent years have risen between 15 - 25% annually
• Rental returns: Recent years have returned between 10 - 20% annually
• Freehold: The right to obtain freehold rights on your property is provided with most non-UAE purchases of property.
• Resident visas are supplied with non-UAE purchase on property

So as you can see there's no taxes of any kind no even hidden.With an escrow account you have the assurance, security and safety that your monies are protected by an impartial third party.

Always happy to answer your questions
Kind regards.

[brian]

But Dubai is something of a property bubble at present, isn't it?