Expat Property Abroad News

Latest 10 news items tagged Property Abroad

16 Jan at 6 PM 2018

Cala Romantica fraud victims get their money back in court

Spanish bank Sabadell Solbank has been ordered to reimburse damages of hundreds of thousands to expats who lost out over a failed off-plan real estate development. The scam began in 2006, when the Cala Romantica development was launched as an off-plan opportunity due to be completed by 2008. Construction had stalled long before the purchase contracts were cancelled in 2011 just before the developers declared bankruptcy. Dozens of buyers lost all their savings due to the collapse, leading eventually to their lawyers sueing the...
15 Jan at 6 PM 2018

Expats account for a quarter of all Portuguese property purchases

Portugal is as popular as ever with expats, who’ve accounted for 25 per cent of 2017 property purchases. Foreign buyers are becoming even more active in Portugal’s property market, with data showing a 30 per cent increase in 2017 sales over the same period in 2016. Some 152,000 homes found buyers from France, Brazil, the UK and China, and the figures may be even higher as the figures only show the total of properties sold via real estate agencies. According to Portugal’s realtor association, the number of sales in 2018 is...
12 Jan at 6 PM 2018

Search stepped up for missing British expat in Marbella

Following an appeal launched earlier this week by English language expat newspaper Olive Press, the search for missing mother of two Rebecca Muldoon has been ramped up by Spanish police. Emergency 112 are now operating from a base on Camino del Pinar and are coordinating the search for the missing woman. Coverage of Rebecca’s disappearance has spread to local British media outlets as well as the international and national press in Spain and the UK. The search team now includes emergency personnel working with Emergency 112,...
12 Jan at 6 PM 2018

Expats in UK worried about Brexit effect on their finances

As speculation on the effects of a hard Brexit racks up, expats living and working in the UK are dissatisfied at best and fearful at worst. As a result of the ongoing uncertainty, the UK has dropped like a stone in the recent InterNations Expat Insider survey, managing only 54th place out of the 65 countries in the study. Significant falls were seen in all indices, but the results of the personal finance category were the worst. Clearly, rising inflation coupled with the weakening pound sterling is causing panic amongst a majority of...
5 Jan at 6 PM 2018

British retirees still favour Cyprus as their dream destination

A favourite with Britons for many years, Cyprus is still high on the list for expat retirees. British pensioners looking to retire in the sun as part of a long-established expat community have always placed Cyprus high on their list of possible locations. Although the cost of living isn’t as low as it was prior to the island’s becoming part of the European Union, it’s still far lower than in the UK, especially in services, goods and commodities. Vegetables and fruits, wine, beer and local spirits, rent, utilities and taxi...
2 Jan at 6 PM 2018

Expats heading for UK warned over rental property scam

Expats planning their arrival in the UK by renting a property in advance are being warned about a new scam involving fake landlords. The fraudulent scheme is being operated through the classified ads website Gumtree, and is aimed at foreigners planning to come to the UK on a semi-permanent or permanent basis. Advertisements offering rental properties are being placed on the site along with the email contact details of landlords. Following an exchange of emails, the fake landlord will request a deposit be sent to a designated bank...
27 Dec at 6 PM 2017

Affordable Bucharest is a haven for UK expats

Is the city of Bucharest as inexpensive as its reputation suggests? Having enough money for a satisfactory lifestyle is a challenge for the vast majority of expats living in a foreign country. Researching the cost of living including renting a suitable property is easier now than in pre-internet days, but the downside of online reports is knowing which to believe and which to discard as just another advertorial. Bucharest is a good example, as many citizens live overseas for a while and eventually return, giving their comparisons of...
27 Dec at 6 PM 2017

Saudi Arabia expats brace for five per cent inflation in 2018

Expats in Saudi may well benefit from the upcoming changes in the kingdom, but inflation may be the undesirable result. Beginning with the introduction in the new year of VAT at five percent and including the new energy price reforms, inflation in 2018 is expected to soar to over five per cent. Tariffs due to be introduced on private education, charitable institutions, healthcare, agriculture and residential property are also expected to prove inflationary. At the present time, there’s effectively no inflation in Saudi Arabia, but...
26 Dec at 6 PM 2017

Are Portuguese homes too cold for most of the year

If you’re thinking of retiring to sunny Portugal and buying a property, there’s one thing you’d be wise to remember. Granted, Portugal’s summers are a retirement dream, with sunshine and high temperatures banishing any traces of the cold-weather blues so common in the UK. However, if you’re thinking of buying a retirement home, you should realise that studies by environmental organisations have revealed only one out of every 100 Portuguese nationals was happy with the ambient temperature inside the house. Put briefly,...
26 Dec at 6 PM 2017

Brit taxman to target expat landlords in new crackdown

Tax avoidance by expat landlords is next in line for an HMRC crackdown. As the number of expat buy-to-let property purchases continues to soar, Her Majesty’s Revenue and Customs office is taking aim at expat landlords in a new crackdown on tax avoidance. The new policy is aimed at shrinking Britain’s black economy as well as increasing tax revenues against the chance of a hard Brexit’s effect on traditional revenue streams. The crackdown will ensure expat landlords are registered with HMRC and are paying the correct amounts...