Overseas Property Blogguide to international real estate investment |
|---|
A new middle class in Brazil means more people are going on vacations. It also means food consumption will go up, and not just in Brazil–some reports suggest a 50% increase in global food demand by 2025.
Increased wealth and a new middle class in emerging economies (combined with population growth) means something else, too–all of a sudden, people become image conscious. Gadgets and labels are important symbols of their new buying status.
Renowned London based architect, Zaha Hadid were announced as architects of the new Cairo Expo City. They are are to partner with engineering consultancy, Buro Happold.
The figures are in. According to Largemortgageloans.com, a large loans specialist mortgage broker, £1m property sales in Great Britain fell by a whopping 41% in 2008. Figures in 2007 indicated that 9,003 £1m properties changed hands in the country, while in 2008 the total was 5,302.
If you are lucky enough to live or own property within the reaches of Wimbledon, or SW19, then grab your chance of making some extra cash now. Many local residents have seen a great opportunity to earn some extra income with short-let rentals. They are cashing in by renting out their homes or extra rooms to fans, players and relatives.
Khartoum’s real estate market is on fire despite the global recession seen elsewhere. The capital of Sudan has experienced a noteworthy face-change over the last few years as international companies setup shop in the city.
Dubai investors and home owners should keep their eyes peeled on a soon-to-be announcement that involves new rules and regulations governing the property industry. The announcement, expected within a few short weeks - is supposed to be helping with confidence in the hard hit real estate industry in Dubai.
Wealthy Chinese investors are taking advantage of relaxed Australian foreign investor laws to buy property in Melbourne. Agents in Melbourne’s eastern suburbs have reported that many buyers are part-time residents from China, Hong Kong and other Asian countries like Taiwan. There is also an increase in Asian companies who buy property in Australia to accommodate their staff.
Real estate prices in the United Arabian Emirates are now back to a similar level as they were in 2006. Propertyfinder.ae is an UAE based online real estate portal and according to their latest comparison of the Emirates top locations they came to this conclusion.
Fraud investigators are looking at a suspected international property scam that has left investors more than £40 million out-of-pocket.
Ocean View Properties, based in Staffordshire, has gone in to administration claiming overseas developers forced the company to stop trading after failing to repay millions of Euros handed over as deposits on behalf of investors.
A notice to investors on the company website claims: “Adverse press reports have undoubtedly contributed to the company’s demise though we have communicated and continue to communicate with the relevant media personnel to correct the inaccuracies that they appear to have been fed.
“It is worth noting here that there are clearly a number of people who have appeared in these articles who have subsequently confirmed that they were never personally approached or that they have been misquoted.
“With regards to the allegations surrounding Sean Woodall we can confirm that he acted as a ‘land finding’ agent for us for a period of around 4 years. It subsequently transpired that, not only was he creating problems with the developers that we were working with but he also had a ‘history’. Accordingly links between us and he were severed in 2005.”
This statement refers to articles in the Sunday Express that alleged hundreds of investors have been left at least £80,000 each out of pocket after major off-plan property deals in Spain’s Costa del Sol never materialised.
Customers were told their cash was being held in legal escrow accounts, said the newspaper, but when they asked for refunds, the money had disappeared.
Sean Woodhall set up his own company, Worldwide Destinations after falling out with Ocean View, copying the Ocean View business model in Egypt, Brazil and the Dominican Republic.
In May last year, a light aircraft said to be carrying Woodhall was reported to have crashed over Brazil.
His body has never been recovered, but he was declared dead last autumn.
Fraud officers from Staffordshire Police, City of London Police and the Serious Fraud Office are currently investigating Ocean View to see if any evidence exists to support criminal allegations.
Ocean View was set up in 2001 by buy-to-let millionaire Colin Thomas, other businessmen and Sean Woodhall, a convicted fraudster.
Investors were persuaded to buy off-plan apartments in southern Spain.
Several celebrities were involved in the marketing - but there are no suggestions of wrongdoing against any of them. They include Martin Roberts, presenter of the BBC’s Homes Under the Hammer property programme.
He claims the company owes him and his partner about £200,000.
England international footballers Gareth Barry and Alan Smith also bought—properties successfully from Ocean View.
There were first talks of plans to demolish thousands of illegal Spanish properties by the Spanish government, that scared off home owners all across the Costa Del Sol; but now,it appears the government is reversing its decision. The Spanish government is hoping to boost its dismal property market by holding off the demolition of the properties.
Thursday, July 2nd, 2009 
Posted by Overseas Property Mall in 
