Expat Property Abroad News

Latest 10 news items tagged Property Abroad

14 Oct at 6 PM 2019

Expats urged to protect against new-build deposit loss

British expats living overseas and investing in a new-build UK property are being warned they may lose their deposits. Whether the purchase is for investment purposes or because the buyer is returning to the UK after living overseas, expats are at risk of losing their initial deposits if they’ve decided on a new-build property. Typically, developers will expect a 10 per cent deposit linked to strict rules as to how or even if the deposit can be redeemed should the sale not go ahead. Nowadays, increasing numbers of would-be expat...
4 Oct at 6 PM 2019

Is Dubai’s economic slowdown a warning for its expat professionals?

Dubai is rushing to court investors as its economy tanks. Weakening trade, tourism and property sales are threatening the Gulf States’ most diverse economy, with its growth now regarded as ‘lacklustre’ by economic experts. Last year, real estate deals fell some 21 per cent, with tourism figures remaining at around 16 million since 2017. Consumer spending in the city-state is also subdued, with the triple whammy resulting in just 1.9 per cent growth. The growth figure is half that of 2017 and point 4 per cent more than during...
1 Oct at 6 PM 2019

UAE plans 20,000 new Emirati jobs to replace expat talent

The UAE is planning to create 20,000 new jobs aimed exclusively at Emiratis. In a move which may result in the beginning of the end of jobs for expat professionals in the Gulf States, the UAE will create 20,000 private sector jobs for locals as well as subsidising their wages.No less than 160 private sector job categories will be included, with only Emiratis eligible to apply. The UAE is the second-largest economy in the Arab world, in which expatriates form 80 per cent of its entire population. It's also the latest cash-strapped...
27 Sep at 6 PM 2019

Survey shows Brit expats prefer their lives overseas

A recent survey involving 1,000 British expats suggests nostalgia for the home country has finally faded. Results of a survey launched by an independent financial advisory firm include the fact that more than half of Britons living overseas feel their home country has changed for the worse, with only one third saying they’d return on a permanent basis at some time in the future. For some three- quarters of respondents, living overseas as an expat has had a profound effect on how they see their country of origin, with 44 per cent...
26 Sep at 6 PM 2019

Hong Kong-based expats still investing in UK buy to lets

Over the past several years, the numbers of expats in Hong Kong investing in British property has grown substantially. Nowadays, the idea of buying a property in Hong Kong as an investment is declining due to the island’s incredibly high real estate prices, with a basic home priced at almost 20 times the average local salary. As a result, home ownership totals on the island are some of the lowest in the world, leaving would-be expat investors looking elsewhere for affordable buy-to-lets. Due to Brexit, UK property prices are in...
26 Sep at 6 PM 2019

Brit expats scammed by property developer granted full compensation by Spanish court

British expats living in Zurgena, Almeria have been granted compensation for new-build homes which were never finished. The case against developers New Medina Villas was brought by 14 mostly British expatriates after work on their new-build homes was stopped and the development seized due to its being on illegal land. A total of 111 unfinished homes dating back to 2005 were involved, most of which had been sold to foreign buyers as investments or retirement homes. The long-awaited judgement gave the developers six months to fully...
24 Sep at 6 PM 2019

Dubai real estate market price corrections tempting expat professionals

For expat professionals living and working in Dubai, its falling property prices may present an investment opportunity. The effects of Dubai’s slowing economy and the oversupply of new housing developments have sent the emirate’s property market into a tailspin. However, the newly-introduced visa laws for skilled workers and expat retirees wishing to stay in the city may encourage investors to take a chance. Given that the Dubai real-estate scene isn’t yet in the doldrums experienced during and after the 2008 world financial...
18 Sep at 9 AM 2019

Worst storms in living memory hit expats and Spanish nationals alike

Expats in Spain are starting the big cleanup after the biblical storms.. Last week’s terrifying storms and torrential rains hit all of Spain’s south-eastern region including popular expat and tourism destinations, with the death toll now standing at five. According to long-term residents, the annual weather phenomenon was the worst in living memory and has destroyed or damaged property, cars and even entire rural neighbourhoods. One victim died trapped in his car whilst driving through a tunnel in Almeria which became filled with...
16 Sep at 6 PM 2019

Expats in French village terrified over no deal Brexit

Expats in a charming French village are living in fear of a no deal Brexit. British expats make up a quarter of the population of the quaint French village of Gouarec, and are becoming more and more anxious about their futures as the clock winds down to October 31. Their fears are focused on access to French healthcare and their pension entitlements, as well as losing their rights to free movement as many have family and friends back in the UK. As has been the case since the 2016 referendum, they’ve been unable to get concrete...
13 Sep at 6 PM 2019

Urgent travel warning issued for expats and tourists as Spain’s extreme weather returns

British expats and holidaymakers in Spain are being urged to take note of the Foreign Office’s urgent travel warning. Following on from the earlier ‘worst storms in over a century’ in Valencia, the Foreign Office is now warning tourists and expats over more outbreaks of extreme weather. Last week, Valencia and its region suffered biblical floods, massive storms, flash floods and damage to property and vehicles, with the latest travel warning an indication there’s more of the same on the way. Torrential rain is expected to...