Expat Property Abroad News

Latest 10 news items tagged Property Abroad

17 Nov at 6 PM 2017

Dubai free fall real estate prices now bottoming out

Given that it hasn’t gone unnoticed in Dubai’s expat community that real estate prices are falling, what’s on the cards for foreign property investors next year? Unsurprisngly, property values in Dubai’s residential enclaves continued to fall during this year’s second quarter, with the average decline set at about 1.5 per cent. It’s the 12th consecutive quarter in which prices have dropped, making a total fall of 14 per cent since the decline began. As a result, average house prices are now almost 30 per cent lower than in...
14 Nov at 6 PM 2017

Risks of earthquakes in the UAE

Reports of the effects of the powerful earthquake which struck along the border of Iraq and Iran include a death toll of at least 452, injuries to thousands and massive damage to villages. Tremors were felt across most of the UAE due to the shallow epicentre of the quake along the Iran/Iraq border, sending expats and nationals fleeing from buildings in Dubai, Abu Dhabi and other northern emirates. Luckily, no deaths, injuries or damage to property were reported, although Emirati citizens were warned of aftershocks. One Dubai expat...
13 Nov at 6 PM 2017

Kuwait residents and expats evacuate as strong Iraq earthquake shakes buildings

Last night, a 7.3 magnitude earthquake struck Iraq, with tremors in Kuwait forcing panicking residents and expats onto the streets. The huge earthquake hit large areas of Iraq, including Baghdad, and was centred around Halabja on the country’s border with Iran. Shocks were felt in Kuwait, sending frightened residents onto the streets as building swayed and the ground shook. Aftershocks were expected, although at present little damage appears to have been done to buildings in the emirate and no injuries or fatalities have been...
7 Nov at 6 PM 2017

Is Cyprus the best destination for UK retirees

For several decades, Cyprus has been a favourite holiday destination for sunshine and hospitality, but is it the best option for UK retirees? Once under British possession and now divided into two halves with the north under Turkish rule and the south now the Republic of Cyprus, this stunning Mediterranean island has been a favourite for British holidaymakers since cheap flights became a reality. Many visitors returned home dreaming of a sun-baked retirement, but is Cyprus the best place for disenchanted Brits? Once a bargain...
31 Oct at 6 PM 2017

Qatar eases banking regulations for expats with expired visas

As the regional economic boycott enters its sixth month, Qatar’s central bank is loosening up on expat banking rules. According to the regulator, lenders must now allow expat workers whose visas have expired a full 90 days before their accounts are closed. Formerly, accounts were shut down immediately on visa expiry. The news was posted on the regulator’s website last Sunday, and is in line with an existing law which allows a stay of up to three months for expats whose residency permits have ended. The declared aim of the new...
30 Oct at 6 PM 2017

Expat tax resident investors in Spain get worthwhile tax breaks

The Spanish taxman has granted useful tax advantages on investment and savings plans to expats who’ve chosen tax residency in the country. Tax advantages on savings and investments for tax resident expatriates in Spain also let them off the hook of Spain’s notorious negativity against non-compliant investments. UK expat tax residents won’t have to worry about onerous extra reporting requirements as well as the punitive tax rates and requirements on non-compliant savings and investments. Conditions for the valuable exemptions...
25 Oct at 6 PM 2017

Famous Fuengirola expat owned oyster bar forced to close for roadworks

Former chef to the stars Larry O’Rourke’s oyster bar and restaurant is likely to be forced to close due to local government road works slated to take until December to complete. The famous Irish expat, formerly the private chef for Irish traditional dancer Michael Flatley, was devastated when he arrived at his premises to find a local crew had dug up the road outside, denying him access to his premises. Distress turned to fury when he discovered an unaddressed letter warning him of the work had been put in his letter box the same...
19 Oct at 6 PM 2017

Baby Boomers still retiring overseas in droves

As the 21st century gets even more confusing, the Baby Boomer generation is heading off into the sunshine for a tropical retirement. Survey after survey is revealing the most important factor in the decision to emigrate is the wish to enjoy a lower cost of living in a warmer, more laid-back environment. The Baby Boomer generation still has its zest for life, and seems to be determined to live it as far away as possible from their countries of birth. Better weather is a must-have, as is a lively community which believes life begins at...
16 Oct at 6 PM 2017

Expats left with nothing after upscale Pattaya condo project goes bust

Over a hundred expat and Thai investors are still waiting for their money after the luxury Centara Grand Residence project was declared bankrupt. Basil Development Co’s advertorial for the high-rise condo development ensnared over 100 buyers by focusing on upscale living, resulting in all of them buying off-plan. Several months ago, all building work was stopped as the construction company’s massive debts emerged, with reports of over 911 million baht owing to suppliers. Court orders on behalf of the purchasers were issued, but...
13 Oct at 6 PM 2017

Expat buy to let investors losing out to the UK taxman

New tax rules on buy-to-let landlords have resulted in the UK becoming one of Europe’s most expensive countries for property tax. Due to mortgage and tax changes aimed at slowing house price inflation and levelling the British property market in favour of first-time buyers, expats investing in buy-to-let properties have been hard hit. A combination of the withdrawal of mortgage interest relief from high earners, increased rates of capital gains tax and higher stamp duty rates on purchases have made expats’ formerly effective...