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Nubricks.com

Category: 

Overseas Property

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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