Expat Property Abroad News

Latest 10 news items tagged Property Abroad

20 Nov at 6 PM 2018

Expats banned from owning Oman property and land

In a royal decree issued by Oman’s Sultan, expat ownership of real estate and land in several areas has been banned. Regions where the ban will apply include Dhofar, in which Salalah, Buraimi, Al Wusta and Musandam are exceptions. Also banned are properties and land in Shinas, Liwa, Jabal Shams, Masirah and Jabal al Akhdar. Expats in Oman are also prohibited from owning land located on islands, near palaces or military compounds, and are banned from owning historic houses and archaeological sites. The ban will also apply to Omanis...
19 Nov at 9 AM 2018

House-hunting advice for UK expat returnees

British expats relocating to the UK in fear of Brexit are faced with shock property price hikes. A good number of Brit expats rented out their UK homes when they left for warmer climes, but the majority sold their properties in the UK in order to upgrade to beachside or poolside villas in the Spanish sun. Sadly, although the Spanish property market is now experiencing an upturn, decreasing numbers of newly arrived expats and an increase in British real estate prices across the board has left many UK returnees with renting as the only...
15 Nov at 6 PM 2018

Expat women banned from owning Kuwaiti property

Expat women are forbidden to own Kuwaiti property after an appeal court judgement was overturned at a higher court. By overturning an initial court judgement which allowed an expat woman to own half of a Kuwaiti man’s house, Kuwait lawyers have effectively banned expat females from owning Kuwaiti property. The Court of Appeal had granted the right of half-ownership to the woman, but the emirate’s Court of Cessation Civil Circuit reversed the decision and dismissed the case. The property had originally been built by the female...
7 Nov at 6 PM 2018

Dubai property market slumps further

Cheaper Dubai rents and property prices are due by the end of this year. The fall in Dubai real estate prices and rental charges is now expected to crash still further by late December. Real estate agents in the emirate are predicting a five per cent drop in both sectors as a result of a 20 per cent fall in the number of homes changing hands. However, property firms are attempting to talk up the market whilst counting the cost of a slump in commissions earned. The size of the percentage-based slump in interest as well as in prices...
6 Nov at 6 PM 2018

London property still hot for Middle East expat investors

The Brexit-hit pound sterling is providing a once-in-a lifetime opportunity to Middle East investors wishing to purchase UK property. Investors in Dubai and the rest of the emirates are piling their money into British buy-to-let properties, forcing house prices up whilst taking full advantage of the shrinking pound and low mortgage interest rates. Worse still, many are waiting in eager anticipation of a possible no-deal Brexit’s further negative effect on the sterling exchange rate. One Dubai-resident landlord already has a £14...
5 Nov at 6 PM 2018

British and Irish buying up Spanish property

Foreign buyer purchases in Spain are up by 11 per cent, with Brits and the Irish cornering 15 per cent of the total foreign market. It’s old news that Spain is the most popular expat destination for British expats as well as for holidaymakers, but the threat of Brexit doesn’t seem to have dampened their enthusiasm for a sunny climate, inexpensive cost of living and a ready-made expat community. In total, some 17,388 foreigners bought their very own personal versions of the Spanish dream during this year’s second quarter –...
1 Nov at 6 PM 2018

UAE expats warm towards property ownership

Expats now resident in the UAE are beginning to like the idea of property ownership. A report from the online real estate portal Property Finder revealed the result of a recent survey, with 50 per cent of respondents who’d purchased homes over the previous six months now believing owning is better than renting. A further 33 per cent said now seemed to be a good time to buy. Those who’d purchased homes did so for financial reasons, as they were planning to stay in the UAE for at least three years or more and didn’t want to pay...
30 Oct at 6 PM 2018

Brit expat returnees priced out of UK housing market

Brit expats returning to the UK due to Brexit are being priced out of the UK real estate market. Although house prices are falling across the country, they’re still not low enough to be affordable for former British expats returning home due to Brexit uncertainty. Many who bought homes in their country of retirement will have found a quick sale impossible, leaving them short of cash and unable to get a UK mortgage. Many more will face the fact that, although they could live in a European country on the ungenerous British state...
25 Oct at 6 PM 2018

Expats in Spain could get windfall on property purchase taxes

In Spain’s Murcia region, expats who took out mortgage loans over the last four years could be in for a tax refund. Following a Supreme Court ruling announced last week, some 30,000 buyers in total could be in for a tax refund. The judge’s decision reversed a former ruling that the ‘tax on judicial acts’ levied on property purchasers with mortgages over the past 23 years should, in fact, have been paid by the banks which provided the loans. Unsurprisingly, the ruling has caused confusion and uncertainty both in leading banks...
24 Oct at 6 PM 2018

Expats in Oman to be allowed to buy non-ITC properties

Oman’s Ministry of Housing is considering a proposal which would allow expats to buy homes outside its Integrated Tourism Complexes. According to a spokesperson for the ministry, a proposal is being debated which allows expatriates to own properties in other designated districts apart from Muscat’s Integrated Tourism Complexes (ITC). At present, foreigners from outside the GCC can buy properties in the complexes either for investment or residential purposes, and citizens of GCC countries resident in Oman can purchase commercial,...