One of Dubai's leading property investment and development events is to become biannual from 2007, with a second show taking place in Abu Dhabi. Together Cityscape Dubai and Cityscape Abu Dhabi will seek to promote investment opportunities in the UAE, capitalising on the vast potential for growth in the region's property market. He Ahmad Humaid Al Mazrouie, director general of the Abu Dhabi National...
Owners of property abroad are being reminded that offshore assets, including property, are liable to UK tax. Charlie Hall, tax investigations partner at accountancy firm Grant Thornton is advising second home owners that failing to correctly disclose liabilities on overseas property can result in severe penalties and charges. However, Britons who know they are in breach of the overseas taxation...
The mayor of Tianjin in China has said he would welcome overseas investment in the Tianjin New Coastal District development. Speaking at the opening ceremony of 2006 Tianjin Week in Hong Kong, mayor Dai Xianglong said that the new district would expand regional development, but could not meet its potential without overseas investment. Plans for the district are expected to cost as much as $3.2 billion...
Professional landlords are increasingly looking to overseas property investments as opportunities in other countries prove more profitable. The Sunday Times has reported that countries such as Dubai, Bulgaria and Canada are proving particularly popular with people hoping to find property abroad. They are looking especially attractive given the fall in buy-to-let rental yields in the UK. The Dubai property...
People looking to buy and sell property overseas are set to see the transaction process improved thanks to a new code of practice covering more than 40,000 estate agents across Europe. The International Code of Practice was introduced in the UK in May last year, gradually building up support across the EU throughout the year. It has now been adopted by all members of the European Confederation of Estate...
Around ten per cent of Britons' inquiries into overseas property centres on Bulgaria, confirming the growing popularity of the country and Eastern Europe in general as a location for second homes. The Glasgow Evening Times also cites official figures showing that the number of such homes bought in Bulgaria has rocketed by 38 per cent since January this year. Meanwhile, the Sofia Echo has reported that new...
The price of prime central London property is growing at its fastest rate for five years, according to one leading estate agent. Knight Frank reports that prime property prices in central London rose almost 15 per cent year-on-year in April, the 16th consecutive monthly rise and the highest jump for five years. Liam Bailey, head of residential research at Knight Frank, said that the boom was actually...
The sale of South African land to foreigners will be among the key issues on the agenda at the country's annual Top Property Conference. The two-day event on June 7th and 8th in Johannesburg will attract leading executives and foreign property investors and will compare property to other investment vehicles in South Africa. Other topics up for discussion include inner city rejuvenation and the global rise...
Qatar-based Barwa Real Estate Company has agreed to purchase a plot of land for its landmark Al Khor Resort project. The resort will offer people looking to buy property overseas with a range of options, including residential apartments, bungalows and beach chalets. The completed resort will also boast hotels, a marina and leisure and sports facilities including an 18-hole golf course. The site for the...
Asteco, the largest property services company in the United Arab Emirates (UAE), has appointed a new head of its investment agency for the Middle East region. Simon Gray is from the UK originally, but also brings management experience from positions in the Thailand, Singapore and Hong Kong property markets. His role as head of investment will involve the management of assets for VIP clients in all property...