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Blog and News -
Overseas Property Investment
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Written by John Angeletta
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Tuesday, 11 May 2010 16:44 |
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Luxury Algarve Apartments For Just One Pound We had to look twice at this agency submission! 1, 2, 3, & 4 Bedroom luxury apartments in Tavira, Algarve ... 20% Deposit Paid 80% Loan-to-value Bank Mortgage 99% of Purchase Fees Refunded following Completion. This offer is unlikely to be repeated and stock is of course, limited to first come-first served. Check out the website under INTERNATIONAL PROPERTY > Portugal.
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Blog and News -
Overseas Property Investment
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Written by John Angeletta
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Wednesday, 28 April 2010 17:09 |
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Portugal ~ 99% Fees Cash Back We may have a limited opportunity to offer 20% Below Market Value, luxury property in the Algarve, Portugal. Total Cash-in will be only c. £3,400 with 99% refundable on Completion. Properties include 1, 2, 3 and 4-bed Luxury, Fully Furnished Apartments with all the usual Algarve features included. Holiday Lettings Management may be arranged to offset mortgage payment. This is virtually a No Money In deal. Property values in Portugal have proved more resilient to the global recession than most. Do hurry and email me with your provisional interest for subsequent information.
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Blog and News -
Overseas Property Investment
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Written by John Angeletta
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Thursday, 08 April 2010 11:27 |
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No More VAT On Self-Builds And Renovations In France
Private individuals who are not registered for TVA will no longer be subject to 19.6% TVA (French equivalent of VAT in UK taxed @ 17.5%) when they sell a property which they have extensively renovated themselves. That is more than 70% of the construction is new, or they have transformed a barn into a home changing its original designation, or they have built their own home from scratch.
Previously, TVA was applicable for five years from the date when the declaration of completion of the works was submitted however, this was proving too difficult to manage for the Government tax authorities, notaries and agents alike.
So, if you come to France you can renovate or build a new house and when you come to sell it as your principle fiscal residence, you will not only benefit from 0% Capital Gains Tax but, you will now also be VAT exempt in France.
This is great news for amateur developers and experienced DIY enthusiasts. However, beware that you will need to insure that the building work you carry out is covered by a ‘domage ouverage’ policy and that if you own a building company you may be considered a professional.
The previous exemption on ‘droits de enregistrements’ ~ land registry and stamp duty equivalent ~ returns to the normal level of around 5.06%
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Blog and News -
Overseas Property Investment
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Written by John Angeletta
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Monday, 15 March 2010 15:22 |
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Don't Offer More Than 50% For Spanish Property!
Spain is the last large world economy to find itself still mired in recession. Its GDP continues to shrink prompting Standard & Poors to put the country on a negative outlook in December last year.
The agency has little confidence in Spain reducing its Government deficit from 11.4% of GDP to the eurozone limit of 3% and could even apply further downward pressure to its ratings should the Spanish authorities not take aggressive action to tackle its weak economic growth and near 20% unemployment.
What does this mean for the investor?
Due to decades of poor planning control and over building, Spain has a near-banckrupt construction sector. But the good news, is there is so much property available in Spain that any serious investor is King or Queen: everyone wants to be nice to you!. Current Below Market Value Deals should be 50% or better: period! So don't be pressured into talking about higher purchasing prices and be prepared to walk away!
Be careful however, when talking property price as Spain does not have a single, simple way of calculating market value (it uses one of three methods???)! Be sure you are being offered a genuine 50%BMV by telling the vendor or agent you will seek market comparison and advice from more than one bank.
Contact us to discuss where the best buys really are and how much you should be offering.
Source: Property4Media
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