Distressed Sales, Repossessions, Short Sales and Foreclosures

Distressed sales, repossessions, short sales and foreclosures: the credit crunch has introduced a whole new vocabulary into buying property overseas. Thanks to the economic downturn, property markets around the world are being flooded with properties now available that have been priced competitively low in order to achieve a quick sale. Even considering the weak pound, there are great bargain opportunities in Spain and Eastern European cities, Florida and some parts of the Carribean and Dubai - see all the usual websites. If you are in a position to buy comfortably but are new to the overseas investment arena you can sometimes get the best advice and a real feel for the market by looking at the web forum discussions on the issue. But if you want to talk one on one with the seller who is trying to offload before repossesion check out the holiday and house price forums where shouts for help and advice on escaping an investment nightmare are all too common this year.

The Top 10 Countries to Buy Property in 2008

Theres always a new list of top ten property investment destinations. Thuis one is from http://www.rodthomasblog.com/. They are always worth a look whether it is for ideas or confirmation that you did the right thing!

The Top 10 Countries to Buy Property in 2008

Where was the hottest spot to buy property in 2008? As 2008 has just ended, that makes us wonder where the year has taken the property investing world. There have been a great number of ups and downs and 2008 has been financially challenging for many countries. So where have the Brits been buying when buying abroad? Is it worth it to invest in countries that are showing economic hardship?

Could this be an opportunity to take advantage of and get a good market deal? So many questions arise when you begin to talk of such topics. Europe has some great countries for investing and if you’re looking to broaden your portfolio with some new properties, here are 10 countries to consider:

Bulgaria- This country really hit the map in 2007 and since then has continued to grow in popularity for investors. Both foreign and domestic investors alike are joining in the rage of Bulgarian property and now are a great time to get in on the action before it’s too late. This is a great time to buy for short to medium term projected growth.

The Belgravia, Lozenets, Sofia.
Studio Apartments
Price: €73,766



Croatia- Here’s another European country that’s making its way on the map as far as investment properties go. This is a great opportunity for commercial as well as residential properties and it is projected to do well into 2009 also. There is also a strong tourism market in Croatia, adding to the reasons to choose this country when expanding your property portfolio.

Cyprus- This country is on the surge of growing property prices and there is no sign of it dropping anytime soon. This is one reason it’s a hot choice for investors looking to build their properties abroad. You are virtually guaranteed to make your money back and some when you buy in Cyprus.


Czech Republic- There are many cities in this country that offer wonderful opportunities for investors. Whether you’re looking to buy and rent or resell, you will find profits in this country. Property price growth and rental prices have steadily went up in past years and throughout 2008.


Estonia- In and around the capital of Tallinn there are many real estate opportunities for someone looking to grow in 2008. Local demand and prices are rising making 2009 a profitable year for Estonia and those who invest in it.
Hungary- This is a country that’s been steadily growing since the early 2000’s and 2008 looks to also be a profitable year for those who invest in it.

Latvia- The economy of Latvia is one of the fastest growing in Europe making it a hot investment choice for real estate. They are also expected to receive one of the five largest wage increases in the world. This boom in the Latvian economy means more money for people to buy or rent properties.

Poland- Here’s another nice choice for investing in 2008. This country is currently undergoing growth with the help of the European Union and this is a fine time to get in on the profits this growing country has to offer.

Gorczewska Park, Poland, Warsaw.
1 bedroom Apartments, 47sqm
Price: € 132,418



Romania- This is an exciting country with low real estate prices and a great number of exciting, creative properties available. It’s more than worth it to check out properties in Romania.

Bonaire, Bucherest, Romania.
2 Bed Apartment, 108sqm.
Price: € 111,760


Turkey- Prices of Turkey property are going up which is good news for investors who want to get in before ’08 is over and see profitable turnarounds in ’09 and the years to come.

Astrum Towers, Istanbul, Turkey.
1 bedroom apartments 34 sqm.
Price: € 44,438

Currency Fluctuations Impact On Overseas Property

It is not the credit crunch that is having an effect on property sales but the strong USD to which the EGP is tied. The GBP has lost nearly 25% against the USD/EGP since the autumn. Then with Russians being big buyers in Egypt the numbers of investors are falling as the rouble is at a 13 year low against the USD.

This has led to a two-tier pricing system coming into effect in Hurghada, according to the thread. Some developers that target predominantly the UK market are keeping their prices in GBP. Others that target the Russian market are priced in USD or EGP which now makes them very expensive versus the developments priced in GBP.

As a result some developments at the higher end of the market are really suffering. But the bargain apartments are still selling well. Anything around £15,000 just disappears fast.

Although some investors are concerned that if tourism numbers are down this will affect rental yields. But this, of course, only applies to those who are currently renting to the holiday market rather than those buying off-plan for completion next year when the global credit crunch may have eased off.
http://www.propertywire.com/



1,2,3 and 4 bedrooms Apartments for Sale, Centre Ville, New Cairo

The connoisseurs of fine living often look back fondly on old downtown Cairo in the 1920's. Everything about life was so French. The pace, the architecture, the settings. life was unhurried, untouched by pollution and congestion and marked by quaint buildings, café boulevards and premium arcades. Launching Rivoli at Centre Ville, New Cairo, Egypt. A cluster of six blocks, each comprising of several luxury apartment buildings which are 6-storeys and feature opulent 1, 2, 3 and 4 bedroom apartments. Rivoli captures the spirit of the turn of the century French architecture with its decorative iron railings, stone cornices and tall window openings.


Lush green parks
Clubhouse
Swimming pool, sauna & massage
Gymnasium
Mosque
School
Retail
Cafes, bakeries & restaurants
Kid's play area
24-hour security and controlled entry
Multi-function indoor rooms
Ample underground parking

Investment Property For Sale

Tunisia – Dubai of the Mediterranean?

Tunisia does not trip off the tongue for overseas property investment and is currently mightily overshadowed by near neighbours Morocco and Egypt in the property press, however with the presence of major Middle East property investors, mainly from Dubai and other UAE nations, the country is set to make a big impact. Property prices are low, even as low as Morocco was five years ago, and the country feels exotic yet European, affordable yet upper-class and will appeal to a broad spectrum of end users. The bonus is that unlike some far-flung destinations, a property in Tunisia is both a future income generator as well as being close enough to actually hop on a plane and enjoy the wonderful beaches and culture,

North Africa’s smallest nation, Tunisia, has a Mediterranean-facing coastline and lies directly south of Italy’s Sardinia tucked between Algeria on the west and Libya to the east. Thanks to a sharp right-angle turn on its shoreline, Tunisia has 1,400km of coastline and it is this asset, together with its strategic location, which has propelled the nation on to the global stage and attracted considerable foreign investment, particularly from the Middle East.

A colourful hotchpotch of architecture from Roman ruins to nineteenth century French colonial boulevards and a patchwork of landscapes from cork oak forests through to olive groves, vineyards and mile-upon-mile of undulating Sahara desert, Tunisia more than makes up for its size in terms of diversity. The sandy beaches front an impressive infrastructure of luxurious hotels, modern international airports, chic boutiques and jet-set marinas whilst the barren south has long-been the chosen setting for blockbusting films including Star Wars, Raiders of the Lost Ark, Monty Python’s Life of Brian and Minghella’s The English Patient.

Life in Tunisia is very relaxed, tolerant and open. Women’s rights are better catered to than anywhere else in the Arabic world allowing western-style clothing, participation in sport and no barriers to taking part in business or Government at a senior level. Alcohol is freely available and widely drunk by locals and tourists alike.

As tourism becomes more important, leisure facilities are springing up at a significant rate, particularly around the honeypot resorts of Hammamet and Monastir, and Tunisia now boasts six golf courses, two of which have 27-holes, international diving centres and plenty of yachting clubs. Two significant projects currently underway, Mediterranean Gate ‘Century’ City and Tunis Sports City, both funded by Dubai investment at 25 billion USD and 5 billion USD respectively, will bring further golf courses and marinas, world-class sporting academies, Olympic grade facilities, business and leisure hubs as well as thousands of residential units and hotel beds.

While buying a property in Tunisia may not be the obvious choice, expect nothing short of positive global headlines and economic fortune from Tunisia over the coming years, and your investment will be rewarded in spades.

France Property Investment Market Remains Stable

France has seen such continued – if steady – increases in property values, mainly because it never really became swept up in the overseas investment boom. In the last 2-3 years thousands of savvy people with a pound to spare decided to put their money into overseas property, but did so, mainly in off-plan properties in emerging markets where prices were incredibly low, and the opportunity presented itself for immediate high-level gains and incredible rental yields. France never exactly offered an abundance of these properties, and so has and will remain to be one of the favorite places for people [especially Brits] buying a resale property as a holiday home.

What Is A Leaseback Property?

While the UK property market is experiencing tough times, there are other areas for investment which are booming. It has been estimated that UK buyers will invest 22.8 billion pounds in this year alone.

The French leaseback scheme was introduced over 30 years ago to help alleviate the growing problem of 'not enough tourist property' to service demand (France is the Number 1 visited country on the planet) Typically bought by the French themselves as a way of boosting their pensions, the leaseback properties bacame popular with UK investors around 5 years ago when the mortgage rules were relaxed.

The most popular areas are the Cote d'Azur, French Alps and Paris as these are the most visited areas in France and solid places to invest. The programme has proved immensely popular because it is government backed; not only do the French Government grant the planning licences for leasebacks, but they re-fund the entire VAT to the client (this is almost equal to the client's entire deposit) as a reward for allowing the property to be used for year round rentals. Along with the guarenteed rents, it's a huge incentive that makes the investment hard to beat.On the finance side, mortgages are lower than the UK and you can normally fix your rate for the entire term of the mortgage.


A French Leaseback property is also a great way to invest in the European property as your investment is totally hands free; it can be totally managed, fully maintained and all rents are totally guarenteed, you can even take a Euro mortgage. It should be seen as a medium to long term investment that forms part of your property pension. The fully managed aspect means that you can invest and relax. Should you want to take up the optional lifestyle investment which gives up to 2 weeks personal usage a year, France is well served by all the economy airlines.

Slovakia Property

The Slovakian Property Market is just beginning to take off again as it follows the pattern of the Czech Republic and enters its second phase of rapid growth.

This new growth is taking place against a back drop of huge economic growth built on a sustainable basis with strong exports.

As the Slovakia Property market matures this strong export base will ensure it can balance the economy as consumer spending takes off and drives property prices further ahead.
Of the Eastern block European Union countries, only Slovakia is due to join in the near future (January 2009) and with its economy generally in good shape, there is little risk of it not joining.

Along with their economic expansion, the Slovakian property market has also seen substantial growth. Slovakia is a good opportunity for overseas property investors, with low rental income tax and no capitals gain tax on long-term property holdings. Slovakia is one of Europe’s most attractive real estate investment propositions.

1 Bed apartment,Karpatska, Bratislava, Slovakia, Price: € 256,550 Bratislava District I, Old Town
Slovakia EXTRAS Bratislava district I, Old Town Windows, duplex anti – noise windows - external plastic windows frames Doors, safety antifire entrance doors - wooden inside doors with cap board Walls
Floors, there are floating wooden floors,tiled floors in hall, bathroom, toilet and kitchen Kitchen,complete kitchen unit with built-in white goods: ceramic hob and oven, fridge with freezer, dishwasher, washing machine and microwave oven
Bathroom, bath, wash-basin - mirror, box
Heating,digitally operated air-conditioning Electrical installation,TV and internet connection,switches, plugs,connector for telephone,video door-keeper.

Current Financial News for Investors in Polish Property

The polish bank BZWBK (part owned by AIB) produce a monthly news letter on the polish econmy and financial markets. This is interesting reading for Polish Property investors. It is a free service. Log on to the BZWBK website,
http: / /english .bzwbk .pl , click on Economic service on Left hand side and download monthly MACROscope

Chose the right time to purchase, but dont leave it too long!

Demand for flats still remains subdued as potential clients are
postponing purchases, hoping for a deeper price correction.
However, it is likely that delayed demand is likely to show up
eventually, and thus a scope for price drop is limited. Especially
that rents in big cities have been growing, which implies that
delaying house purchase is getting increasingly costly.

Miasteczko Wilanów Warsaw

A residential development of over 8.000 units,
A commercial zone of approx. 80.000 sqm, including:
supermarket (9.900 sqm)
do-it-yourself facility (9.000 sqm)
200 retail stores
restaurants (3.700 sqm)
leisure (8.250 sqm)
Offices and others zone:
A 50.000 sqm technology park
Other business developments are being negotiated.

Public areas and parks will constitute 50% of the project.
Wilanów is one of the 18 districts that compose the administrative distribution of the city of Warsaw.
Wilanów is located in the south-east corner of Warsaw.
Warsaw is perceived as a garden-city, with wide variety of open green spaces (Natoliñski Park, Kabacki Forest and large areas next to Vistula River).
Warsaw is famous for the Palace of the King Jan III Sobieski.
Favoured area for embassies and diplomatic institutions.
Excellent communications withWarsaw city centre, the City airport, the subway and other districts such as Ursynów and Mokotów.

Over 1900 flats;

Buildings maximum height: ground floor plus 4 storeys;

Medium-high standard build quality;

Garages, commercial space and parking areas on ground;

Anticipated completion date for the Warsaw Project is 2010.

3 Bedroom Apartments,110sqm Ostoja Wilanow Poland, Warsaw.Price: € 221,000

Profitable Overseas Property Investments

How do you make real money? Most investors answer that if you put your money into brilliant companies, brilliant sectors and brilliant countries, then hang on, you’ll end up rich। We disagree. When something is that good, most people know about it already and your purchasing price is going to reflect that, which will limit your returns even if things go as well as the market expects. The key to wealth is to make investments “where outcome exceeds consensus expectations”. If the consensus is that something is a basketcase and it turns out instead to be merely mildly mad, or even a recovery candidate, “it’s a sure-fire way to garner riches”. The more widespread the pessimism about an asset class, the more the odds are stacked in favour of “the early and the brave”.Britons looking to expand their portfolios in emerging overseas property markets have been advised that they could face lower returns if they wait and follow the crowd.Off Plan International has said that individual investors face being crowded out of the market if they wait just one or two years after a market has become more well-known.However, the firm acknowledged that it was usually better to look at the capital city of a country, adding that press coverage and word of mouth encouraged investors to move to particular places."My advice for people if they are looking to invest in small value, one or two properties, is to look at capital cities within a country. They are more expensive than other parts of the country but you are not going to lose," noted an Off Plan International spokesperson."If you are a smaller investor, in a place that's been a hot spot for a year or two, you need to be careful where you invest.

Investment Property Sales: Emerging, Overseas & Foreign Property Investments

Why Invest in Overseas Property?

Property investors are still choosing to invest their money in property abroad over the stock market for a number of reasons:

A property abroad provides investors with a tangible asset
Property investments provide better capital growth returns on both long term and short term investments
Historically, the property markets are less volatile than the stock market
Investors in property have more control over their investments than they would investing in the stock market
Properly structured rental returns usually cover the day-to-day property costs and can provide pension incomes

The best strategies for maximum returns on investment.

Identify high quality overseas property investments within criteria
Purchase the best investment properties abroad at minimum cost
Add value to create immediate capital growth through refurbishments or comprehensive modernisation of foreign property investments
Maximise investment property rental cash flow
Chose the optimum time to sell to achieve maximum return on the foreign property investment
Build a well balanced portfolio of international property investments
Provide first class presentation to the local property rental market via websites, through press advertising, magazine and property brochures and direct contact with international relocation and corporate accommodation agencies.

Get the Right Advice

Who should own the property?

Getting this question of ownership wrong is probably both the most common and the most expensive mistake people make when buying property overseas. There are many people who could be made the legal owner of the property or, as the case may be, the shareholders in the company that owns the property. The best choice is, often, not obvious.

Getting this wrong can cost you tens of thousands of pounds/euro/dollars of totally unnecessary taxes, during your lifetime and on your death.Most local lawyers will be unable to help you make this decision as it involves an understanding of both the local AND your own legal, tax and inheritance systems.Investmment Property Sales can help with all of these issues.

What are the options?

There are many ways to purchase a foreign property as an investment. These include:

in your own name alone
in your name and in the name of your co-purchaser(s)
wholly or partly in your children's
names or in the name of somebody
whom you would like (eventually!) to inherit the property from you
in the name of a limited company,
whether English, 'local' or "off-shore"
via your SIPP/SSAS pension fund
via an investment fund (REIT, PUT etc)
via an investment club
via a trust