Property Dealings

Property investors are targeting the tiny Eastern European country of Estonia with a vengeance because it offers massive and sustainable long term potential for profit and property price gains with real estate prices having already increased by as much as 30% in just three years.

The popularity of this breathtakingly beautiful country stems from many different points: firstly the country is an economic success story. Having escaped the domination of Soviet rule back in 1991 it has since established strong trade links with Finland, Sweden and Germany and now has a GDP growth rate of around 6% annually. Secondly the government of Estonia is committed to the promotion of foreign direct investment and to this end it offers some impressive tax breaks to companies who establish themselves in Estonia.

Income tax is a flat 26% in Estonia making it one of the most competitive of all European nations and therefore more appealing for multinational companies seeking a base in Europe and more appealing for local and foreign employees. And finally, Estonia has a rugged and natural beauty and its natural landscape and friendly people are drawing more and more visitors to the country annually and so the tourism market in Estonia is growing quickly.

Property investors have been targeting the capital city of Tallinn where the majority of international companies investing in Estonia are establishing bases and where there is an increasing demand for quality residential and commercial property to rent, buy or lease.

Those who bought just three years ago in the most desirable districts have realized real profits in the region of 30%. These rates may not be sustainable over the longer term but prices and rental rates are set to keep on climbing because the demand for property outstrips supply and will likely continue to do so for quite some time.

A lot of the residential real estate in Estonias cities is old Soviet style apartment block units and these properties are not at all popular. More and more developers are constructing new and modern accommodation that property investors are snapping up and renting out to tenants or selling on to first time buyers or other property investors upon completion. Those who wish to buy these types of property pre-construction benefit from the fact they buy at todays prices but take possession in 12 18 months when the real value of the property has risen quite substantially.

Unlike in many other countries around the world, those who buy off-plan in Estonia usually only have to find between 10 and 20% of the propertys price during the build period because the majority is payable upon completion this makes it easier for a property buyer to save to afford a property or to flip upon completion and resell to realize the profits with which to pay the developer.

The investment property potential in Estonia is exceptional and anyone looking to diversify their real estate portfolio should consider this Eastern European countrys property market.

One should look at Dubai’s fast growing skyline, to have a measure of its economic growth. The number of new construction plans being announced on a regular basis, by the city’s developers, is amazing. Several Dubai hotels and retail chains could be enlisted in these developments. Those dealing in Dubai apartments are also found playing active roles. Despite the supply of residential properties looking healthier than ever before, only 175,000 new apartments might be built by the year 2010, as against the demand for roughly 181,000 units. Roughly about 75% of all new developments in Dubai are expected to fall under the property segment, totaling around 230 billion over the next decade.

Dubai has started organizing an International Property Show in the recent times to help grow its own real estate smoothly. The latest edition of this show was held from April 3rd to 4th this year. Exhibitors from several European countries like Germany, France, UK and Spain made their presence felt. Several other players from India, China, Malaysia, Bahrain and Turkey also took part in the same event alongside. The three day long annual show is regarded by many as the most sought after in the Middle East. A 35% increase in the level of participation was recorded this year. The next year’s property event is slated to be held in February 2008.

This annual show features many advanced projects from across the globe involving leisure, commercial and residential properties. Deals outlining newer Dubai hotels and Dubai apartments are often sealed during the three-day annual event. Dubai’s hotel industry is already under pressure while trying to pace along its own tourism sector. Developers would surely like to explore possibilities for making newer world-class hotels in the years to follow.

The main purpose behind this show is to bring together city planners, property developers, financiers, real estate agents, consultants and designers under one roof. This year’s show was held during the International Property Week, thus allowing the visitors and participants to take part in a series of industry-specific workshops, conferences and seminars. New property laws were recently announced in the UAE allowing a major boost in the area of real estate. A basic platform for bringing together all property developers was urgently sought in this scenario. The International Property Show of Dubai has fulfilled the same emerging demand.

International companies succeeded in making a combined sale of 170 million in this year’s show. A leading American real estate firm, named The Corcoran Group, alone made deals worth about 130 million. Its ocean liner named ‘The Orphalese’, launched during the three day event, generated many business queries. Notwithstanding the significance Dubai hotels and Dubai apartments might carry in this part of the world, ideas like ‘The Orphalese’ do also have a great future ahead. The liner is the largest to be built ever in its own class, roughly twice in size compared to the nearest model. It offers 200 permanent and 265 temporary units for stay. It also carries state-of-the-art business, leisure, medical and other necessary amenities on board.

Here in Secured Loans you get some great tips that you should know first before filling out any Loans applications. All that a Secured Loans really is, is a line of credit that you are given that has been secured for you. Even though the details of these Secured Loans will vary according to the lending institution that you use, they can certainly help you out of a bind that you may be in or in order to get something done that you do not have the cash to handle upfront. One of the primary things that you should look at whenever it comes to this type of Loans is the payment terms. This would include such things as the interest rate amount, pre-payment terms and accessibility of cremation. Typically, these will vary whenever you go into different lending institutions so you might want to shop around a little bit in order to make sure that you are getting a great deal. Be careful not to shop too much, however, because each time your credit report is downloaded your scores will be lowered to a certain extent. If you’re on the borderline of being accepted for one of these Loans, this can put you over the edge and cause your application to be denied. The interest rate is probably one of the most important things that you’re going to need to look at. A delicate Loan may end up having a very attractive interest rate if your credit score is good and you have shown the ability to repay Secured Loans in the past. If you find yourself spread out a little bit too thin with your bills, you can typically pull them all together with one of these Loans before you end up in financial trouble.

If you are dealing with bad credit, you may have a difficult time securing personal Loans at all. That is of course, unless you go with the lending organization that works purposely with people who have credit problems. You can expect to pay more in terms of interest rates, but if you really need the money in your pocket, these Secured Loans may be your only option.

Do you know how to buy or Rent property in spain?

Spanish property for sale – finding YOURS

Spain is medium sized country with population thinly spread out throught the entire country. There is vast streches of hilly areas which over look the sea and have become a best location to build villas. These hills have their own water supply and hence it comes a feasible location for building a township or a villa as per the requirements of the customer. The speciality of these areas are that they are a short distance away from the main city. This adds special feature to the hilly locations. They have the peace of the hills and are easily accessible from the main city. Other an the hills, most of he apartments have a own community swimming pool and independent villas of course have their own swimming pools.

Finding a Spanish property for sale that fits the family wishes and requirements can be a daunting task.

First you have to ask what kind of Spanish property for sale that are you looking for. This includes searching for suitable areas, price range, property type etc. This takes some thinking and discussing over the family dinners and also researching Spanish property for sale over the Internet. You will find many a lot of Spanish properties for sale, but more importantly you will get an understanding of the Spanish market. Also, you can find other people who have already found their homes, and some of them share their experiences.

Make contact with the estate agent who has the Spanish property for sale you would like have more information about. This can be done from home, and you should also take time to speak to the agent on the phone (ask them to call you) to find out if the agent understands your wishes and requirements. There are many agents who will show you any Spanish property for sale, but take your time, and if it doesn’t work with the first agent, then just call the next one.

The real estate agent assists you in finding a Spanish property for sale
Typically an agent will be escorting you on the viewing trip to see the any Spanish property for sale you have asked for and explain about the areas where they are located. The viewings are always arranged on a “one to one” basis, where you are the only client. The same agent will support you from start to finish, saving you the stress, and time, and hassle re-explaining your wishes and requirements. It is important to come to a decision with peace of mind and at your own pace. The buying procedure and how to obtain a mortgage will also be explained on the viewing tour if needed.

We found our “Dream Home” – support please!
A thorough step-by-step walk through of the buying process is often required, including the legal aspects of buying a property in Spain. An agent should go through different options on how to get the mortgage in place, and should visit one or more banks with you.
After having bought the Spanish property for sale where are looking for, the agent should be your contact to the Spanish, and assist you with renting, renovation work or any other help needed with your property.

Whistler is perhaps North Americas best ski resort; certainly there is nowhere close for vertical drop, acreage of groomed runs and variety of expert terrain. However there is also a tremendous variety of rental accommodation, and before you make a choice it would be as well to be educated about the options and their implications.

Whistler properties vary along 3 key dimensions: size, qualitystyle and location. We dont need to say much about size; there are properties on the rental market ranging from shoeboxes of 350 sq. ft to imposing chalets of 6000 sq. ft. or more. Quality is another question altogether. Much of the Whistler rental inventory was built in the 80s and 90s when the profile of the resort was lower and cost was the name of the game. Most developments were built with indifferent design, cheap materials, poor quality fixtures and fittings and dcor that is unimaginative at best. You do not want to spend your vacation in a condo with a blue carpet, magnolia walls, formica countertops, shiny brass bathroom fittings and garishly-coloured sofas. So you need to seek out either one of the more recent developments, such as Taluswood, that were built to a much higher specification, or you need to find a unit that has been recently renovated (or Whistlerized, as the local term has it). Whistlerization typically involves installing slate floors, granite countertops, stone fireplaces, wooden cupboards, beams and trim, and painting in earthy autumnal tones of caf-au-lait, caramel and burgundy. These units have a much more mountain-cabin feel. The top-of-the-line properties in Whistler go a stage or three beyond this, with spectacular designs and extremely high-end finishes, although only a few of these properties are on the rental market.

Location is perhaps the key issue in choosing your Whistler rental. Although only a small town, there are many different areas you can choose for your vacation, and each of them has advantages and disadvantages.

The Village is the place for proximity to bars and restaurants, and for being a relatively short walk to the lifts. However most of the inventory in the Village is small, with one or two-bedrooms units dominant in the mix, and it was all built to a cheap standard. It is critical to find a unit that has received a recent quality renovation. There are also one or two units that are larger, but you may have to search hard to find them.

The Upper Village is on the lower slopes of Blackcomb Mountain. This is the location for ski-in, ski-out units that are also reasonably accessible to the Village. However, if you want ski-in, ski-out make sure that you check what this means. Some properties are actually on the slopes; others, still styling themselves ski-in, ski-out may be up to 5 minutes walk away. Still others are ski-in, but not ski-out.

The second main location for ski-in, ski-out units is Taluswood on the lower slopes of Whistler Mountain. This is a very upscale area with a variety of accommodation, but all of a high quality standard using peeled logs, natural materials and quality dcor. Access to the slopes is very easy, with no more than a 2 minute walk from most properties. However you need a vehicle to get to shops and restaurants, as this area is not served by either the free shuttle or by municipal buses.

The fourth location is Creekside, the original location of Whistler. This used to be a very downmarket area, but recent heavy investment has made it a decent alternative to the Village. The Creekside gondola is always less crowded than the lifts in the Village, and there is now a great selection of shops and restaurants in town. The quality of accommodation is very mixed, with many unattractive older properties and a few newer, luxury chalets that are equal to any in Whistler. You can walk to the lifts from most locations in Creekside.

Finally, there is a selection of other locations, including Blueberry Hill, Nicklaus North and Alpine Meadows. Here you will generally find larger homes, but they are not ski-in, ski-out and you will have to drive to the Village as well. However, you will get more for your money in terms of the quality and size of the property itself here.

So you are the proud owner of a vacation home congratulations. But just as with your own home, a vacation home needs a lot of tender loving care. Who is going to look after it when you are away? And, perhaps, how is it going to pay its own way? Thoughts like these tend to push vacation home owners into thinking about appointing a property management company. So what should you be looking for in a property manager, and how do you go about finding one with the qualities you want?

First and foremost, you have to decide if you just want the property taken care of, or if you also want it rented out. This will determine what kind of property management firm you want, and whether you need to check their credentials for marketing your firm, or just for looking after it. Assuming that you would like your home to generate some income for you, you need to look for several key capabilities

A firm which will ensure the highest standards of care and attention to the fabric and contents of your property. Lots of rental income will not make up for the damage caused by careless renters. Make sure that your chosen firm will keep on top of every
Personal check-in and check-out of every rental. Many firms take advantage of the availability of keyless coded locks to allow renters to check themselves in and out. This means that they never know who is in your property, and whether your four-bedroom home which is supposed to have a maximum of 8 guests actually has 16 grad party celebrants all over the floors
The highest standards of cleaning. Cleaning a property thoroughly is time-consuming and expensive. Many property management firms cut corners here, and if they do, you will eventually pay the price in worn-out carpets and other forms of dilapidation.
Superior marketing capabilities. Marketing vacation rental properties has become a sophisticated business these days. Make sure that the primary website on which your property will appear is ranked highly against the most popular keywords for your location. A local firm without much experience in search engine optimization may be able to take good care of your property but they wont generate a lot of income since no-one will know that they exist.
Great service for guests. Look for a manager who knows how to offer excellent service to guests: arrival baskets of food and drink, pre-booking of activities, restaurant reservations etc. If guests feel they are well looked-after, they will be more inclined to come again, but also feel more of an obligation to take good care of the property they are in.
Great service to you. You should expect VIP treatment when you are using your own property, but also VIP service when you call up your property manager to enquire about availability, discuss renovation and maintenance issues, query your income statements or any other matter. Make sure you will always get to speak to someone senior who knows you and your property.

Have a look at this page: www.holidaywhistler.comownerinfo.htmWhistler property management for a company which looks as if they know what they are doing. But make sure you talk to them in detail and go over the management contract with a fine tooth comb before you sign on the dotted line. You should expect to pay 35-50% of gross rental income to the management company; if they charge less you might want to be suspicious of what they are offering; if more, theyre probably too expensive. This may sound a lot, but remember that they are looking after your property for no fixed outlay to you, and they only make money when you do as well.

Good luck with your search.

Retirement in Thailand is the dream of many foreigners and mine too. I plan to settle down there in about two years and have been checking out the rules for acquiring property in the land of smiles.

The easiest solution for a foreigner (farang) is to buy a condominium. There is a percentage requirement as to the total number of farang and Thais in the condo complex.

Foreign land ownership is forbidden in Thailand. So, the best that a farang can do is to lease the land and own the house. The lease is good for 30 years and beyond that is anyones guess. Some web sites say you can get an additional 30 years and other sites say that there is no guarantee.

Another option is to incorporate yourself as some sort of company and lease the property back to yourself as an individual. This is in the gray area of Thai law and one that I wouldnt use. I have friends that have done this and so far it is Ok but I worry about the future.

Lastly is something called a usufruct. Googling this will probably give you more information and a better explanation than I can provide. All I know is that is the option that a lawyer recommended to me and I will pursue further on my next trip to Thailand. He claims it is similar to a lease but has some better advantages. He will have to convince me.

Regardless, it will be the lease or the usufruct. Either one should allow me to have a place in Thailand until the day I die or whatever happens to the property after that I really dont care about.

There is one final solution that I highly DONT recommend. You can place the property in your Thai wife or girlfriends name. She will then own the property outright. There is a minor technicality that she has to prove that she provided all the funds for the real estate but that is an easy lie to cover. The problem with this solution is that since she is the owner, she can do whatever she wants with the property. You could take a two week vacation and come back and find that your house has been sold and your honey is gone. This is definitely not advised.

Check with your lawyer and find the way to purchaselease property for your retirement. While you have your lawyers ear, check on pre-nuptial agreements and an enforceable will. Dont conduct any transaction of this nature without the advice of a lawyer.

Every year many thousands of properties in Spain are sold to foreign investors. What is the attraction? Firstly the country has a great climate and that is particularly appealing to those people living under the grey skies of northern Europe. Getting there is both quick and relatively cheap. A flight from London in the United Kingdom to Malaga on the south coast of Spain takes only a little over two hours. It is possible to get some very cheap flights with either one of the well known budget airlines or by picking up a spare seat on one of the hundreds of charters that fly to Spain every day.

There is a wide selection of property to choose from both in type and numbers. Consideration of the following points will help to narrow the search. Size of the property, the garden and the number of rooms required. People planning to emigrate with children should check out what schooling is available locally. Consider the local health & social services. Choose between a built up area or open countryside. How near is the beach, a town, the shops, the bars and restaurants, public transport, its frequency and what time does it stop in the evening?

Many developers looking to improve their own cash flow will offer property for sale off plan. The potential buyer may be able to view a show home but in many cases they are literally shown a development plan or a scale model. An initial deposit is payable followed by several stage payments. A couple of advantages, if property prices rise between purchase and the completion of the project the buyer will own a property worth more than they have paid for it. Secondly, most developers will allow the buyer some say in style and design of both the inside and outside of the house. The down side is the amount of time buyers will have to wait until the development is completed, often in excess of 12 months. And of course they don’t know what they are getting for their money until the property is completed.

The cheapest property available in a finished state is likely to be an apartment. These are often on an urbanizacion or housing estate that will often include other types of property such as townhouses and villas. These small communities will include a pool and landscaped gardens. Some kind of security is often employed either in the shape of guards or CCTV cameras. A community charge is payable to cover these facilities. A word of caution. Many of these properties are let to holidaymakers during the summer months. Some to English people with children. The noise these guys make while on holiday has to be heard to be believed. If it’s not the kids during the day it’s their drunken parents in the early hours of the morning.

A detached, purpose built villa offers more privacy and seclusion but it will cost more than a comparative property within a community.

Buyers looking for a more of the Spanish experience should look at properties within an established town or village. Many of these properties look small but are surprisingly spacious once inside.

A Finca is a property standing on a plot of land in the countryside. It may be a tumbledown farmhouse or a just completed villa. Many fincas have a good deal of land and this may have fruit orchards or olive groves.

Finding the right property should be no more than a question of looking. Once a decision has been made on the location and the type of property it is time to talk to the estate agent. Make certain this person is registered with the authorities and holds a license. Many estate agents have a background in time share developments so the hard sell can be expected. Any claims made by agents should, wherever possible, be substantiated by an independent source.

Any offers to purchase a property should be made in writing and include the following: The price, how it is to be paid and in what currency. The amount of the deposit, to ensure the property is withdrawn from the market, and when it is to be paid. The completion date. Who is responsible for the payment of which taxes. And a detailed list of what is included in the price, furniture, fixtures and fittings and a proviso that all systems, air conditioning, etc. are in good working order. It is vital that this is done in conjunction with a solicitor. Many English speaking solicitors are to be found throughout Spain. No document provided by an estate agent or others should be signed without a solicitor having prior site of it. This cannot be stressed enough.

When an offer is accepted the solicitor should firstly make a check with the land registry. If all is well a private contract binding both parties to the deal is prepared. Following that is the preparation of the public deeds (Escritura de Compraventa) which must be signed before a Spanish notary. Upon completion the solicitor will fax the title deed to the local land register confirming the identity of the new owner and ensuring that the property cannot be sold a second time.

There are certain charges involved with yearly maintenance of the property and these may include, community fees, electricity, real estate tax, rubbish collection charges, water. If the property generates rental income the owner will be liable
for property income and wealth tax. The estate agent should be able to provide this information.

A mortgage application in Spain is relatively straightforward. The following original documents need to be shown, passport, if employed, the last three months payslips and if self employed, accounts of the last 3 years, an accountant’s reference, and tax returns.

A further 10% of the agreed price will have to be found to cover additional fees that include: Legal fees of approximately 1%, Notary and Land Registry Fees of approximately 1%, Title Deed Tax of 0.5%. A Valia tax, payable on any increase in land value may be payable. On a new construction IVA tax is levied at 7%. It is charged at the full rate of 16% for purchases of land. Purchases of used property are subject to a transfer tax and this like the IVA comes in at 7%.

People planning to move to Spain for a period in excess of 6 months must apply for residency. Spanish property owners’ who do not have residency should appoint a financial representative and they must be resident in Spain. This can be a lawyer or tax adviser or to save a few Euros a neighbour or friend. It is to this person that all correspondence regarding the property will be sent.

Consider appointing a gestor or legal representative. They will look after all the paperwork and in Spain there’s plenty of it to look after. There’s that residency to begin with. People planing to work will need a work permit. If opening a business they can assist with the licenses and permits that will be required. They will also advise on the import of pets, cars, furniture and electrical goods. And they can sort out pension payments in Spain.

As with purchasing a property in any country, you must make yourself aware of the formalities and “peculiarities” of the foreign market.

Property prices.

Without an official price index, many properties are advertised with a price that is determined by what the vender wants rather than by a market value. If you find a property in a particularly popular area (or in an area like an Old Town where they can be no more development), it is most likely that market has been determined by the price paid for a similar property. If you are looking at a renovation project in an area away from the main towns, then the price you pay will most likely be a result of your negotiation skills.

Legal advice.

Getting a local lawyer is imperative. Many properties have multiple owners (i.e. owned by whole families) and all parties must be in agreement of the sale. When the lawyer has this in writing, the title of the property can be yours.

Paying for your property.

All purchases are cash purchases. The vendor will require a cash deposit of at least 10% of the agreed price and you will need to pay the rest in 30 days. If you cannot complete the deal, you lose the deposit. If the vendor pulls out of the deal, they will have to pay back the deposit plus the same again. Therefore, if you put down 5000 and the vender defaults, you will receive a total of 10000.

Fees.

In Montenegro, it is the buyer that pays the estate agent fees.

- Property tax: 2% (on the sale price, payable to the government.)
- Agent fees: 4% (approx.)
- Legal fees: 750 (approx.)

Example: Agreed sale price = 45000 + 900 tax + 1800 agent fees + 750 legal fees = 48450

Transferring money.

It is not necessary to carry the whole amount of money to Montenegro as cash (although you may wish to do so for the deposit). You can transfer the outstanding amount electronically to a bank in Montenegro and withdraw the money when you are there. Some banks don’t have any method of direct transfer to Montenegro, so you may have to use a currency exchange to do this for you (they quite often get better exchange rates too for those in non Euro currency countries). From there the money can be transferred to a Montenegrin bank (Opportunity Bank in Kotor Old Town only charges a 15 handling fee. Some banks charge a percentage).

Once you have decided on your property (or properties), seek the proper legal advice and look forward to your new holiday home, capital growth or rental income.

Please note: this article does not constitute legal advice and any costs incurred & potential future gains may be different in each instance.

Buying property in Greece is the greatest desire of many persons nowadays

Buying property in Greece seems to be rising up to the top of many persons to do lists for this life and this is why there has been an increasing surge of interests in the estates found in this magnificent country. Since the turn of the century, property for sale in Greece has become a great attraction for foreign persons who are willing to invest in real estate and this has turned the action of buying property in Greece like a gold hunt.

The greatest deal of buying property in Greece represents the propriety that is usually used as a holiday estate. Apart from this, there are also lots of retired persons that consider buying property in Greece a good opportunity to spend their rest of life there. Moreover they can finally unwind, enjoy their unique twisting of the ordinary and get rid of the flurry of activity from the big cities.

Greece is now encompassing a great place of investment in real estate, in sundry areas, such as commercial, industrial, residential. After the Olympic Games had been held in Greece there was a boom in buying property in Greece. This high interest has not been quenched yet. Although the foreign persons that are ferreting out for property for sale in Greece might find the process of actually owning a propriety an intricate set of rules and regulations, it is important for them to be acquainted with the fact that grasping and taking in all the things required and of course trying to meet them will very soon help them be the possessors of a property for sale in Greece.

Due to a new adjustment to the Greek law, foreign citizens can now dare to dream at the wonderful proprieties situated in Crete and Corfu, areas that once were considered very sensitive. Therefore, if you desire to have access to a property for sale in Greece, apart from checking various sites on the internet it is advisable to resort to specialist agencies that are accredited to give you unobtrusive pieces of advice concerning your desire of buying property in Greece.

Moreover, there if you want to acquit property for sale in Greece, are imposed no restriction it is a great asset for you. However, it is imperative to take into account that prior to buying property in Greece a prerequisite for you is to be granted the permission to purchase a real estate in the Greece by a local authority. After this you will be a real freehold owner, and therefore a good advice for you is to crack while the iron is still hot and to take advantage of this desirability.

It is true that buying property in Greece may require you to put aside a lot of time but it is really worthy, and apart from this there are a plethora of sites and agencies ready to buttress your actions and to help you get hold of a suitable property for sale in Greece.