Overseas Property questions and information

Overseas Property advice & real estate blog

Hi I am Nicholas Marr the CEO of Marr International Ltd a UK based property marketing  company responsible for overseas property portal Homesgofast.com.

Buyers ask the questions. Buying property abroad requires research. This blog is aimed at those looking for answers about buying property abroad.

Post your comments and questions

Two heads are better than one. We are working with about 400 agents and developers from locations worldwide I intend to use their specialist knowledge to help answer your questions. 

Your contributions are welcome! I would also like to encourage professionals such as real estate agents and developers to contribute to this forum. All contributors will receive acknowledgment and a link to back their own web site. 

Seek independent advice. All reasonable efforts are made to ensure the accuracy of the information given however we strongly advise you to seek professional independent advice before embarking upon any venture as a result of any information in this blog

Buying overseas property safely. Overseas property buyers should take advice from qualified solicitors or other independent professionals and ensure that sales documents, title of property, building permits and registrations are correct and translated into the language of the purchaser.

Go to Homesgofast.com.

Comments

[Kelly Jones]

Nicholas a great concept! I would like to ask the following:
I am considering buying a home in France for a holiday home. I love the French countryside can you recommend a particular area. I am looking for
1.) Reasonable house prices
2.) French countryside
3.) Typically French no loud tourist areas
4.) French property with character

[Roy Cowell]

On the subject of ensuring correct title on an overseas property. The safest way is to take a mortgage on the property because the mortgage lender will always ensure safe title before risking their money
www.ukma.com

[Scott Jones]

Can you point me in the direction in regards to tax havens i.e what and where they are exactly.

[Signature Properties]

Isla margarita (Caribbean)

Hi Nick
I searched through Google the other day to find out what other people thought about Isla margarita and came up with this.

More than twenty years ago, Margarita Island emerged powerfully from the waters of the Caribbean, as a perfect option for investors, and today…pretty soon, they have started to collect to profits of large investments.
Nueva Esparta experienced a vertiginous economical evolution in less than two decades and surprisingly is almost untouched by the crisis that still persists in the country, Nonetheless, this apparent Magaritenan bounty depends entirely on tourism, which leaves plenty of expectations for the future of Nueva Esparta, diversifying the economy to maintain the growth rate and to insure its future all factors point towards success.
Communities form all over the world settle on the island, attracted by investments of internationals companies. Many visitors, which fall in love at first sight with Margarita, decide to return and settle here, looking for prosperity and tranquillity.

The island is a phenomenon without precedents in the recent history of the country. Basic services and esthetics have improved, enhancing its national beauty. The roads are generally good, and they reach all villages on the island.

Investing on the island is still rentable; remember if you do it now, your investment will grow with the development of the region, if you wait much longer, the square meter of land will show sky rocking prices.

Just come and visit for some days, let us show you round this beautiful island analyze the market – you will find completely saturated sectors and others, still virgins, ready to invest. You will enjoy the contrast between the villages, its costumes and traditions, the living images of its geography and history that season each corner of this land, bathed by the sea, with the most beautiful sunsets and sunrises, where you can multiply your investment it is a good time to invest, tourism backs up your investments.

Hope this all helps to make your mind up for more info please email nick@jdgroup.co.uk

[Signature Properties]

wow in the last two weeks two of my developments in margarita have had a price increase of over 10%
which is great for me because i make more money, but its hard trying to get to all those investors to my web site to see.
at the moment there are two flights a week from gatwick and one from Manchester coming back in two weeks time which is know good if you want to see a property. i have agents now contacting me from other countries to list there developments which i will do .lets hope easy jet and ryanair see the need for more flights,and will jump on the band wagon! then watch your investments grow, sow got any monry to spare please call 0845 370 111 or email nick@jdgroup.co.uk
kindest regards nick

[Matt]

Hello Nick!

My name is Matt. I work in recruitment in UK earning £35 K+ I've been seriously considering 2 buy a property in Italy, where some of my roots are. I was aproched by an estate agent who offered 2 find me a 6-7 bedroom Villa in 4instance Calabria for about £400 000. He said that it's gonna b a guaranteed rental 4 the season and that I can get an get a profit of around 60-80 000 Euros a year. It sounds 2 good 2 b true for me if I'm honest:) Can U please tell me what U think about it?

Regards,
Matt

[Nick]

Hi Matt

Does sound too good to be true have you considered looking at his accounts and records for letting out the property. He should have some you need to see some good hard facts is my gut feeling. Its always good to compare like for like so get on the net and find simliar properties and compare pricing.
I can recommend a lawyer who specialises in Italian property
go to http://www.homesgofast.com/International_Lawyer/Legal_services.php

[Annie Lowey]

I have just returned from gambia where I looked at several land plots for sale. I have a contact in gambia who assures me that the land is owned by a village and that the cheif is willing to sell this land which willnot require any planning permission and that I would be free to build a house. Having made several enquiries I understand that there is no land register I dont know how to find out if the land ownership is genuine also I need advice on the pitfalls of buying in gambia

[Ian Brown]

Legal Formalities & Associated Property Conveyancing Costs in Gambia

Just as in European Law it is always recommended that a purchaser/seller of property/land instruct a reputable solicitor/conveyancer to act for them so it is equally advisable in The Gambia.

Land in the Gambia is registered at the Property Registry (an organisation just like the English Land Registry), where you can confirm immediately whether the seller owns the property free of any liens and encumbrances.

Just as in Europe, however, there is still plenty of land/property which remains as yet unregistered. To avoid any ensuing confusion it is necessary for European purchasers/sellers to understand the difference between the terms freehold and leasehold used both there and in Gambia.

These terms have very different implications in Gambia to those in Europe. In Gambia there is no such thing as absolute ownership of land and property. This is because all the land is ultimately owned by the Government and is leased to any private purchaser for a period of 99 years but this confusingly DOES NOT constitue leasehold land.

This land/property can be either leasehold or freehold depending on whether or not it has been registered at the Property Registry. If it is unregistered it has a freehold status, whereas registered land/property is denoted leasehold. It is important to register previously freehold land/property as leasehold at the Property Registry during the purchasing process thus documenting your unequivocal ownership of the same

[Ian Brown]

Legal Formalities & Associated Property Conveyancing Costs in Gambia

Just as in European Law it is always recommended that a purchaser/seller of property/land instruct a reputable solicitor/conveyancer to act for them so it is equally advisable in The Gambia.

Land in the Gambia is registered at the Property Registry (an organisation just like the English Land Registry), where you can confirm immediately whether the seller owns the property free of any liens and encumbrances.

Just as in Europe, however, there is still plenty of land/property which remains as yet unregistered. To avoid any ensuing confusion it is necessary for European purchasers/sellers to understand the difference between the terms freehold and leasehold used both there and in Gambia.

These terms have very different implications in Gambia to those in Europe. In Gambia there is no such thing as absolute ownership of land and property. This is because all the land is ultimately owned by the Government and is leased to any private purchaser for a period of 99 years but this confusingly DOES NOT constitue leasehold land.

This land/property can be either leasehold or freehold depending on whether or not it has been registered at the Property Registry. If it is unregistered it has a freehold status, whereas registered land/property is denoted leasehold. It is important to register previously freehold land/property as leasehold at the Property Registry during the purchasing process thus documenting your unequivocal ownership of the same

[Nick]

Gambia is set too be an emerging market prices are very low and tourism strong along with impressive growth over the last couple of years.Learn more about Gambia and its potential as the next big thing at
http://www.homesgofast.com/Gambia/Gambian_Property.php

[Luxury Living in Morocco]

Morocco property is currency becoming one of the world's leading luxury emerging markets. It is popular for many reasons but one of the major consideration is the excellent price that luxury Morocco property can be purchased for during this era of major development and construction.
Further factors to be taken into account are coupled with the Morocco's excellent capital fast growth in Morocco and the already solid and ever-increasing Buy to let market.

[Stephen Conger]

HI , What a great blog.....but I was surprised not to find anything on Mexico which is one of the hotest overseas investment areas for Americans and Canadians and now with the very high sterling a fantastic investment for those from the UK. Its blue skies, palm trees, colonial architecture and tropical climate will seduce you, and the remarkably affordable cost of living and peaceful lifestyle will entice you to stay.

With extensive infrastructure, safe investment, ease of access, an established expatriate community, Merida, capital of the Yucatan, has become one of the most attractive places for foreign property investment.

With a population of over 800,000, Merida, designated as the Cultural Capital of the Americas offers a cosmopolitan lifestyle with small town charm and friendliness. Whether you enjoy exploring Mayan ruins, a day a the beach or strolling along the European inspired boulevards, Merida and its surroundings have everything you could want including theatres, museums, libraries, universities, restaurants and markets.

As one of the most beautiful and safest cities in Mexico, Merida has become a haven for foreign property investors looking to find a tranquil retreat to call home. From the grandeur of European style mansions, to the charming Spanish colonial homes , few places rival Merida in architectural variety and charm. Founded in 1542 the city is home to the oldest Cathedral in the Americas situated in the heart of the city on the Plaza Grande.

Throughout the week, the theaters, plazas and galleries offer countless events, including music, dance, theater, youth concerts, exhibitions and other special events related to the designation of Cultural Capital of the Americas Year 2006... all usually held within walking distance of the Plaza Grande which forms the heart of the historical center where most foreign investors have decided to purchase.

This old colonial neighbourhood boasts French and Spanish colonial architecture and most homes have either central courtyards or gardens and the area is currently being transformed by the influx of American and European home owners. With real estate prices starting as low as $30,000.00 USD for a fixer-upper on the beach or in the city to upwards to 2 million for a classical mansion, Merida has something to offer to all investment portfolios. Construction prices are very reasonable, currently running below $50.00 USD per sq. ft. to build new or remodel. With its growing GDP, a higher level of foreign direct investment than any other Latin country, and a current political climate, investing in Mexico today offers high rewards with limited risk.

The peso is strong and direct foreign investment is at an all-time high. In fact, in the past year the flow of foreign capital into the Mexican stock market rose more than 6%, helping make it the seventh best performing stock market in the world. In February of 2003, the Wall Street Journal published an article entitled Mexico Real Estate is a Haven for U.S. Institutional Investors.

This enthusiasm has now overflowed to the private property investor. The property taxes are minuscule compared to the U.S. and Canada, usually costing just a few hundred dollars per year. It is also very easy to be exempted from paying the capital gains tax - you just have to prove that you reside in the property for at least six months. The appreciation in many areas, especially on the coasts, can be very high, with 50% or more per annum being a realistic number. And above all, buying Mexican real estate is safe and easy.

Infrastructure and the standard of living are high. The Merida International Airport provides service to most Mexican and US destinations and connections to Europe. Local transportation is efficient and car rental very inexpensive.

Wonderful clean beaches are less than a half hour's drive away and a variety of Mayan ruins and wildlife parks are within a short drive or bus trip from the city. The city is well served with wireless, cellular and high speed communications and internet capabilities. Healthcare in Merida is on par with the USA, Canada and Europe and many of the doctors are US trained. Many facilities are state of the art but costs are about 30% of those elsewhere.

Here, in this sophisticated, safe cosmopolitan city you can own a beautiful historic home with garden and pool for a fraction of the cost you would be paying back home and enjoy a higher standard of living.

So if you are looking for a wonderful lifestyle, a secure investment, and year round blue skies then purchasing a home in Merida may be the investment opportunity for you.
Stephen.design@gmail.com

[makati condo]

I agree and you have a point there. Very interesting concept.

Deirdre

[Philippines properties for sale]

Well, glad I saw this post! My aunt has an overseas property and she need answers to her questions. I will show this post to her. Thanks for sharing this post.

-seff-

[Jose Espandezx]

what about brazil

[Philippines properties]

I agree and you have a point there. Very interesting concept.

Deirdre G

[Philippines properties for sale]

First of all i am so glad i found this site. I can feel here that real people exist in this world.

Deirdre G

[Turkey Property]

I live in Liverpool, I am interested and new in the buying and selling overseas property for investment, I want to know, is there any tax can be levied in the UK if I buy property in Turkey? If yes, then what is the rate of that. Hope, I can get answer of this.