Tuesday, 17 June 2008

Moving into the Middle East......

After weeks of red tape, Horizon Consultancy is finally an Authorised DAMAC Property Agent !!

If you don't know, DAMAC Properties is the largest private property developer in the Middle East, specializing in offering outstanding returns, on Off-Plan property investments. 

DAMAC Properties was established in 2003 and has grown into one of the most successful residential, leisure and commercial developers in Dubai and the Middle East. DAMAC is also expanding rapidly into North Africa, Jordan, Lebanon, Qatar, Saudi Arabia and the Far East.

Notable Developments by DAMAC are:

- DAMAC Heights, Dubai Marina, Dubai 

o For information on this Development, please click HERE 

- Lincoln Park, Dubailand, Dubai

o For information on this Development, please click HERE

- Marina Bay, Abu Dhabi

o For information on this Development, please click HERE 

- Hyde Park, New Cairo, Egypt

o For information on this Development, please click HERE 

Developments can be acquired using a Payment Structure or Financing of up to 90% (yes, that includes Saffers as well !!) by a local Commercial Bank in Dubai or wherever the property in located.

If you would like more information on the above Developments or on purchasing property in the Middle East, please click HERE

Monday, 2 June 2008

A Guide to Buying Property Abroad

by Sarah Scrafford 

It’s extremely easy to make mistakes that have severe financial consequences when buying and selling real estate, more so when the property you have your eyes on is located overseas. Here are a few things to consider before finalizing the papers on that home or piece of land abroad: 

  • Don’t believe all that you hear or read about the property. It’s wise to make a couple of visits and go over the place before you even think of buying.
  • Deal only with agents who are authorized and legit.
  • Check if the seller is within his rights to sell that particular property to you – you don’t want to be caught on the wrong foot paying good money for property that’s caught up in a legal wrangle or other problem.
  • Familiarize yourself with that particular country’s real estate laws and if possible, find a good local lawyer who can guide you through the process.
  • If you plan to renovate, go through the planning permission rules with a fine-tooth comb to make sure you don’t breach any laws.
  • Open a bank account local to the country you’re buying property in. It eases your financial transactions.
  • Your country’s embassy can help in educating you about local taxes and work permits.
  • Don’t rush the process – take as long as you can to make sure you’re not given the short end of the stick.
  • Make sure you’re not quoted a higher rate just because you’re a foreigner.
  • Retain an alternative housing arrangement in case the deal falls through.
  • In case you’re paying for a house that’s yet to be built, ensure that your insurance is in order.
  • If the company you’re buying the property from is a member of the Federation of International Property Developers, it’s an added plus point.
  • The rules and regulations governing foreign property purchases vary from country to country.  
  • Talk to other fellow countrymen who have bought property in the same country to get information, views and opinions.
  • Don’t buy property overseas just because there’s a current housing boom and you hope to cash in later.
  • If you think a deal is too good to be true, check it out again and again until you’re sure there are no loopholes. 

Investing in property is a financial decision that can either pay rich dividends or get you deep in the red, depending on how wise (or foolish) you are. So be informed, be savvy, and be careful when buying property in a foreign country.  

About Sarah:  

Sarah Scrafford is an industry critic, as well as a regular contributor on the subject of entrepreneurship. 

She invites your questions, comments and freelancing job inquiries at her email address. To contact her, please click HERE


Sunday, 1 June 2008

Investment Opportunity - London, United Kingdom (£239,999)

Property in the United Kingdom has always been a good investment, but the best returns have always been experienced in the capital, London. Reasons for this include a rampant Rental Market due to the steady influx of Foreigners, Low interest rates & steady growth for the past 10 years.

But now London finds itself in a Buyers Market which bodes well for the informed investor. One such 'Buyers Opportunity' includes the following property that is up for sale:

The Property is situated in the South West of Central London in an area called, Southfields. 

(Click HERE for the location)

Details of Property: 

This newly decorated bright and attractive two bed roomed first floor flat in Southfields features a modern open-plan reception room/kitchen with a stylish interior. 

The property further comprises of two well proportioned bedrooms, a newly installed bathroom and ample storage space in the hallway. Situated on Bell Drive, Southfields the green open spaces and woodland walks of Wimbledon Common and Putney Heath are within easy reach, whilst the shops, bars and restaurants of Southfields are also nearby. 

The nearest station is Southfields Underground station that is a 12min walk away (District Line), which provides regular services to central London and London Victoria (for Circle and Victoria lines and British Rail services to Gatwick Airport). Regular bus services (2 every 10mins) also stop nearby that’s travels to Putney town centre within 5 mins.

Features of the Property: 

  • Totally re-furbished in July 2007
  • New combination Boiler and Central Heating Network (Boiler under warrantee)
  • Integrated fridge & freezer (under warrantee)
  • Newly installed Oven, Hob and Extractor Fan (under warrantee)
  • Newly fitted Bathroom
  • Two big hallway storage cupboards
  • Main Bedroom build-in cupboards
  • Ample free off-street parking
  • Flat is sold fully furnished !! 

Financials of Property: 

  • Potential rental income: £1050 - £1100/calendar month
  • Service Charge: £450/calendar year
  • Lease: 107 years remaining

If you require more information on this property, please contact me HERE