Nubricks an overseas property news blog providing news and articles about the property industry in both emerging and established markets.

Nubricks Overseas Property Blog
Ever dream about buying a little place in sunny beaches of
Algarve in Portugal? Perhaps you're drawn to living in the luxurious Monte Carlo
or in a
French property at the sunny Côte d’Azu.
Buying the right property in a foreign country is no small
task. But more and more British are finding benefits to moving abroad by reading
nubricks.com blog you can discover the best overseas property opportunities.
Who can argue with buying four acres of prime land in Costa
Rica for less than a small room in London? And of course now there's always the
Internet to keep you connected to your family and friends back home even at your
remote
Cyprus property.
But be warned, sometimes the grass isn't always greener
across the globe so you need expert advise if you want to avoid common mistakes
and pitfalls. No two countries in the world have completely identical legal
systems, nor are the laws, rules and regulations that govern the purchase of
property are exactly the same. Unfortunately most potential property buyers
often assume otherwise, and unfortunately open themselves up to the likelihood
of getting bitten by the legal intricacies of an unknown foreign property
market.
Britons buying property in the European Union can take some
comfort in the knowledge that they are subject to exactly the same rules and
regulations as the locals, or any other EU citizens for that matter. But - and
this is a big but - not one single EU country has the same buying procedures as
another. Individual countries have their own property laws.
As an example, in
Spanish property any previous outstanding debts attached to a property
become the liability of the new owner. Or, if you purchase a farmhouse or villa
with some kind of agricultural land in Italy, your farming neighbors could
exercise the right of pre-emption, that enables then to buy back the land for
less than its purchase price. This is a very complex area of tax and law, and
any move should be carefully thought, and expert legal advice is a must.
Outside of the EU - from Eastern Europe to the United
States, Australia or South Africa - the legal aspects of buying property are
even more variable.
The United States presents its own set of exotic purchase
proclivities, for instance, although Britons can feely buy a US holiday home,
there are some restrictions on how long they can remain in the United States
each year, normally 90 days unless an application is made for a B2 visa. And the
Florida state foreign home owners will confront restrictions in certain areas
that will limit the number of days per year that the
Florida property can be rented. While South Africa does have special
restrictions on foreign property ownership, ‘non-residents’ (all those where the
nominal place of residence, domicile or registration is outside South Africa
common monetary area) have to declare any money that is imported to the South
African Reserve Bank.
The specific exigencies of buying property around the globe
are hugely variable. But wherever the location you chose fundamental legalities
most be studied in detail- ranging from registration fees, local taxes and stamp
duty to zoning laws, death duties and even tax treaties including double
taxation treaties. These international agreements can limit the tax liability
for a citizen of one country who is resident in another - and thus prevents the
same income being taxed in two different countries; fortunately the UK has the
largest network of double taxation treaties, covering over 100 countries.
Some top locations that are deeply covered in the
nubricks.com blog.
Tropical Brazil offers excellent potential for purchasers
of property abroad. Today, vibrant Brazil is amongst the fastest growing and
most desirable locations for property abroad. With increased direct flights
available to Brazil and some very well priced options available, it is easy to
see why
Brazil property is currently amongst the top destinations for the purchase
of property abroad.
Purchasers of property abroad are currently looking to Cape
Verde as a great opportunity to purchase at the very start of an almost virgin
property market. Often likened to the Caribbean,
Cape Verde property prices are very low and the fantastic climate, easy
access and stunning beach-front properties offer fantastic opportunities that
are second to none.
Exotic Egypt has long been a one of the favorite amongst
medium haul holidaymakers from Europe. Today property, particularly in coastal
hotspots, is offering great potential and high capital growth. The tourism
industry in Egypt is growing in proportions never seen before and this bodes
well for those who invest earlier in holiday property here. Prices still remain
incredibly low and while the economic growth and stability of the country is
high, buyers now regard
Egypt property as a sound investment with excellent returns on investment.
Malaysia bodes very well in the international property
investment arena. With strong economic policies in place and a gradual
relaxation in the laws governing foreign investment, property purchasers in
Malaysia are set to enjoy very high returns on their properties in the city and
in coastal resorts. A growth in tourism figures has prompted the creation of new
luxury developments to welcome visitors, eternally attracted by an exotic
culture and an abundance of natural beauty. This, combined with low property
prices and a vibrant economy puts
Malaysia property amongst the top property investment hotspots today.
Morocco is currently one of the world's leading emerging
property markets for investment. In Morocco luxury real estate can still be
purchased at very affordable prices and purchasers enjoy the exotic atmosphere,
stunning natural beauty and variety this country provides. With progressive
government policies firmly in place, the tourist economy is on the brink of a
boom and purchasers of
Morocco Property are acting fast.
High building quality and relatively low prices are
continual attractions for
Portugal property investors. To cap this, very cheap flights, consistent
capital growth, a strong buy-to-let market and low cost of living continue to
draw investors and homebuyers to this stable EU member state. Portugal is famed
as a golfers’ paradise and investment in off-plan property on one of its world
class golf courses is a firm favorite amongst property investors today.
For more information and latest news just head to the
nubricks.com blog.
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