Investing in a Holiday Home Abroad

Housing in Spain has very well lowered its prices and many investment and foreign funds have launched to find opportunities. However, a falling domestic market in the short term is not as profitable as some foreign locations. Therefore, there are many investors who are considering buying a house outside Spain and… also – why not?

But a different legal system, different cultural’ know-how’, classic winkery of the place and even the ignorance of the area can take away the buyer from making an important and profitable investment. For this reason, going to a specialized real estate agency will make things much easier to know the viability of the local markets we are interested in and will also provide us with security.

First step: finding the house

To find a suitable house, it is highly recommended to know the local market:

1. One possibility is that we have a very detailed knowledge of ourselves by spending long periods of time in the place or having visited it thoroughly. Likewise, it is also necessary to be clear what we want the house for: as a second home or as an investment, because for each option it is advisable to know which are the locations of the country with the highest profitability.

2. Another option is to go to the real estate agent who gives us a general introduction on the local market to know where we are interested in finding the property we are looking for. In each country there are areas of high, medium and low demand and the desired investment could lead to a catastrophe if we are not well advised. “The investor must establish contact with internationally renowned professionals and agencies of international stature to help them determine the right investment,” says Ignacio Sobrino, associate agent at RE/MAX Casagrande & Asociados in Tomares, Seville.

3. A previous personal interview with your trusted agent in Spain, who is internationally accredited and also takes charge of monitoring the entire process of the operation, will help you find the right house.

Second step: legal certainty

Knowing how home buying and selling laws work is crucial.

1. When we have found the house, we ask the real estate agent to give us a general introduction on the legal particularities of the country that must be known and the differences most pointed out with Spain to make this transaction. It is the contact agent abroad who must inform the referred client of each of these particularities, taxes, expenses, rights and obligations, and if possible that the contracts to be signed clearly detail them,”says Sobrino. For example, in France, as Eva Souza, director of Engel & Völkers’ Cannes shop, explains, once the purchase contract for the house has been signed at the notary’s office, the buyer has seven days to withdraw.

2. To overcome the language barrier, it is essential to have a sworn translation into Spanish. In Spain, for example, in the case of a foreigner who does not speak or cannot communicate in the official language of each community, he or she is obliged to hire an official translator to assist him or her in the purchasing process. The presence of such translator shall be required at the notary’s office. This is what usually happens in any notary’s office in another country,”says Sobrino.

3. Hiring a local lawyer is the next step, and if possible be fluent in both Spanish and the language of the country of origin, although there are also many real estate agencies that already have a legal department included among their services. We advise them but it is always mandatory to hire a local lawyer, and we provide them with a serious and reliable law firm,” says Eduardo Lluzar, Catalan licensee of Engel & Völkers who works in the Dominican Republic. Some of their basic tasks in all countries are to check that the property is in the name of seller or to facilitate translations in contracts. Also to avoid the particular scams of each country, as Lluzar puts it:”In the Dominican Republic it is not possible to sell a property without having the approved demarcation that guarantees the individualization of the property with respect to the other adjacent properties, its own cadastral designation and a serious property registry”.

4. Know the taxes involved in the purchase and sale operation, both for the seller and the buyer. Depending on the country, it will be necessary to know whether there are taxes for the increase in wealth, double taxation, that is to say, whether taxes have to be paid in Spain and in the country of origin. Also those that have to do with renting the property, its maintenance, local fees, community fees, etc.

Third step: financing

If it is more convenient to take out a mortgage, in the country of origin of the house or through a Spanish bank, it depends on the period of the loan.

Hurdles In A Real Estate Project Investment

Investing in real estate is a very lucrative business. Analyzing the property market where you are going to invest your money is very important. Despite what many people believe, becoming a real estate investor can help you earn huge profits. As long as you go about the business the right way, you can reap huge rewards and achieve the goals that you have set for yourself.

However, as with every great business opportunities, there are some difficulties to overcome in order to be a successful investor.

Research is the most important thing when it comes to investing in real estate. Good research always plays a vital role in property investment. With the advent of technology today, it is not as time-consuming as it used to be. There are several websites available on the internet that helps a great deal in finding a suitable property, location as well as reasons to invest in it. Take your time to conduct the research and search for the best location. Check for the specifics of the region you are considering to invest in. Analyze the buyers, sellers, rental, and investor in the area. If need be, contact the property agents of that particular location through any means possible and send them quires to find out any question you have about buying, selling and renting of any property in that area. These things may give you enough knowledge about investing in real estate in that particular area. Ultimately, you will be able to get a full picture property business in that region.

Below are things you need to know about an area before considering investing in property in that region.
• Population,
• Tax and ownership law,
• Buyer and Sellers of that particular region,
• Temperature and Environment,
• Future projects and Developments,
• Rents of property,
• Management cost,
• Insurance policy,and
• Tourism Industry.

These are some basic things that must be considered before buying property in any region. These things may help to reduce your risk and give you handsome return on your investment. Aside from all of these, you may need to enlist the service of a professional property agent that has the full knowledge of that particular area. This might be necessary because when you are going to buy any property, there are some legal agreements and contracts that you may need to sign. To avoid running into crisis in the process, a professional help is a good option for you. In addition to helping you find a very profitable property, the professional real estate agent will also guide you in making the best choices that will be favorable for you. Also, whenever you want to sell or rent out your property, the help of a professional will ensure that you get a great return on your investment.

All in all, when you educate yourself about the latest market trends and learn various hints and tips on being a real estate investor, you are on your way to success. This will help you break through all the hurdles and ensure your survival in the competitive but lucrative real estate.

Parkway Vistas, the Address for Lavish Living

Parkway Vistas, a luxurious residential development located at the highly anticipated Dubai Hills Estate, the mixed-use joint mega-project between Meraas Holding and Emaar Properties in Mohammed Bin Rashid City.

Parkway Vistas features an exclusive collection of 61 magnificent villas consisting of spacious six to seven bedrooms layouts. These beautiful villas are available in two sophisticated designs: Modern or Contemporary Arabesque. Residents can experience maximum comfort and convenience with the wide range of exclusive facilities and premium amenities that complement these residences.

Boasting a cutting-edge architecture, an elegant design, and superior finish, the villas display unparalleled class and refinement. Highlighted with top-of-the-line fixtures, natural sunlight flooding through floor-to-ceiling glass windows, and large balconies overlooking the surrounding lush landscapes and private gardens, these marvelous residences create a soothing yet vibrant ambiance.

Cutting-edge architecture, elegant design, superior finish, top-of-the-line fixtures, natural sunlight flooding through floor-to-ceiling glass windows, and large balconies overlooking the surrounding lush landscapes and private gardens are some of details that complete the interiors of these marvelous residences.

Specifically curated for the most discerning buyers, these stunning villas offer expansive indoor and outdoor living spaces that are perfect for family living. Built within a vibrant yet serene environment, these superb homes are a haven for residents to experience a mixture of modern luxury and healthy living through the extensive variety of lifestyle, leisure, and sports amenities available within their reach.

Dubai Hills Estate is one of Dubai’s most spectacular new developments. Situated between the two major thoroughfares of Al Khail Road and Mohammed Bin Zayed Road, Dubai Hills Estate is an extensive residential and lifestyle development comprising villas, low-rise apartments and townhouses. It is the first phase in the massive Mohammed Bin Rashid City project, that has aptly earned the moniker of ‘city within a city’ because of the grand scope of the development.

In addition to the residential projects, Dubai Hills Estate will also contain an 18-hole championship golf course, nature trails, hotels, resorts and the Dubai Hills Mall, which is expected to be on the scale of the massive Mall of the Emirates in the neighboring Al Barsha district.

Dubai Hills Estate is in a prime location, benefiting from quick and easy access to Dubai’s other urban hotspots such as Downtown Dubai and Dubai Marina.

The Lifestyle

With rolling greenery on all sides and tree-lined drives leading to and from the area, Dubai Hills Estate is meant to be enjoyed at a leisurely pace. It is a self-sufficient community in its own right, with a variety of residence types that makes it well suited for families and individuals alike.

Highlights

Dubai Hills Mall

The Dubai Hills Mall is a massive retail and entertainment complex being constructed on the northern edge of Hills Estate. It is expected to be larger than the neighboring Mall of the Emirates upon completion, and to become Dubai’s premier shopping destination.

Golf Club

The immense championship golf course will be the centerpiece of Hills Estate, giving residents a place to relax, relieve stress and enjoy some fantastic views of the city skyline.