Expat Property Abroad News

Latest 10 news items tagged Property Abroad

18 Feb at 6 PM 2019

New Oz property capital gains tax law forces rushed sales of prestige Sydney homes

Expat and foreigner home owners of prestige properties are rushing to get them sold before Oz’s new tax exemption laws kick in. Expatriate and foreign owners of a selection of Sydney’s most upscale real estate are besieging property agents with demands their homes must be sold before June 30 this year, the date on which they will no longer be able to claim capital gains tax exemption on capital appreciation. The new law covers both Australian nationals living and working overseas and expats from other nationalities who’ve bought...
18 Feb at 6 PM 2019

Popular FLYbmi carrier now under administration due to Brexit

The low-cost airline, popular with British expats as well as holidaymakers, was apparently taking bookings right up until its bankruptcy announcement became public. Based in the Midlands, the carrier operated over 600 scheduled flights to European destinations including France and Spain, and employs some 450 staff. A spokesperson told the media the decision to go into administration was made due to the rising cost of fuel and the imposition of carbon taxes caused by the EU’s decision to exclude UK-based airlines from its Emissions...
15 Feb at 6 PM 2019

What next for Spain’s expat real estate market?

Traditionally a favourite for British expat retirees, Spain and its real estate market are caught between currency exchange rate instability and a lack of Brit expat buyers due to Brexit uncertainty. Following the 2008 financial crisis, Spain’s formerly successful property market slumped to a low point from which it had barely recovered when the Brexit referendum moved its goalposts yet again. Although house prices had staged a positive recovery, they’re still below those considered normal before the financial meltdown. One major...
14 Feb at 6 PM 2019

Is now the time for Dubai expats to bag a property bargain?

Is Dubai’s property price collapse signalling an end to its boom years? Over the past four years, Dubai’s property prices have slumped by a massive 25 per cent, with the fall blamed on the oversupply of high-end luxury real estate combined with the fall in oil prices. A recently released report confirms the nose-dive, with formerly fought-over prime properties on the spectacular man-made Palm Jumeirah Island dropping by a further 9.5 per cent last year. Prices in Dubai Marina with its yachts, sandy beaches and soaring Jumeirah...
11 Feb at 6 PM 2019

Millionaire expats buying into Algarve resorts

British retirees planning to emigrate to Portugal are sitting on their hands rather than snapping up properties. Real estate agents along Portugal’s Algarve coastline are losing British expat buyers due to Brexit-led uncertainty about sterling’s value. However, the lull in done deals seems only to be affecting reasonably-priced properties under 500,000 euros, whilst luxury pool villas set in small estates are still finding buyers who can afford to ignore the poor exchange rate. In spite of Brexit, Portugal in general and the...
6 Feb at 6 PM 2019

Omani ban on private sector expat workers extended again

Oman’s Ministry of Manpower has now extended its ban on expats and is reserving certain occupations for Omanis only. Some 87 separate job sectors are again reserved for Omani citizens, with the ban expected to last for a further six months. All permits allowing expats to work in the private sector are to be temporarily suspended, including those in the IT, admin and human resources, media, medical, engineering, technical, insurance, accounting, finance, technical and airport staffing sectors. Expats whose visas were granted before...
5 Feb at 6 PM 2019

Irish expats could find repatriation is an expensive luxury

Many Irish expats returning to their home country after years away will face a massive hike in their cost of living as well as having financial hurdles to jump. In addition to having to find a suitable property to call home during one of the country’s worse housing crises for decades, Irish returnees are likely to also have to battle to get any kind of social welfare. In addition, those wishing to take out private health insurance will need to do so within nine months of their repatriation or be prepared to pay far more than they...
31 Jan at 6 PM 2019

Spanish police praise expats for rescue of retired British couple

Spain’s Guardia Civil is heaping praise on the heads of two expats who saved an elderly British couple from a gas explosion. John Frank and his friend Roger were enjoying a leisurely afternoon a home when gas bottles in a nearby house exploded. The pair rushed to their neighbours’ house and saw dementia sufferer Shirley standing in the middle of the living room in shock. Her clothes were burned off, her skin was black and she’d suffered major burns to her legs. Her husband, cancer sufferer Brian, was covered in blood and...
31 Jan at 6 PM 2019

One euro Sicilian village property offer sees thousands of willing buyers

If you’ve ever dreamed of finding an incredibly affordable property in a charming Sicilian village, now’s your chance! The offer earlier this week of 17 dilapidated, traditional homes in Sicily’s picturesque mountain village of Sambuca for just one euro each resulted in a property stampede as thousands of would-be buyers rushed to secure the property bargains of the century. The reason for the sales was to save the village from total depopulation, as most of its inhabitants have either died of old age or left for jobs in nearby...
25 Jan at 6 PM 2019

New UAE long-term visas to start in February

The UAE government has announced the start date of its new long-term residence visas as February 3. UAE long-term residence visas due to be issued from February The new visas are intended for entrepreneurs, investors, outstanding students and expats with specialised talents and will allow holders to study, live and work in the emirates without having to provide a sponsor. Those lucky enough to get one will also be allowed to have 100 percent ownership of their businesses as long as they are located on the UAE’s mainland. The visas...