Property Select - Overseas Property News

Moroccan Sands to bump Moroccan Property into the Premier League

Wed, 20 Aug 2008 00:00:00 GMT

With the majority of demand for property in Morocco coming from places like the Middle East, France, domestic buyers, US, the Irish buyers and also every country that has remained stable with their house prices or rising, the market has been unaffected to a large extent by the collapse of confidence from UK. Michael Kent, managing director of Morocco Property expert Moroccan Sands remarked that he’s surprised that it has taken as long as it has, considering the number of advantages that Morocco affords visitors. Kent adds that the number of enquiries is constantly rising and increasing numbers of people realise the benefits that the region holds. Kent adds, “With a pro-active government, rising prices and easily available credit, the conditions are ideal for a successful Moroccan property investment"

As announced by a leading property magazine Homes Overseas, property in Morocco is now one of the most elite and sought after destinations available to buy abroad. The Moroccan banking division is in good shape making it easy for international buyers to obtain mortgages; this is due to the fact that the banks in Morocco have been barred from self-exposure to the global credit markets because their currency, the Dirham, is non-exchangeable.

A steep climb in the amount of people finding accommodation in Morocco or buying property in Morocco can be seen. Prices in property start around 60,000 pounds for a decent unit, and people also realise that to make money you need to put in money - and there are profits to be made, so Morocco wouldn’t be the cheapest destination. With the latest figures available from the Tourist Authority showing that the amount of people coming into Morocco has increased by 8% from the previous year, the region is on its way to achieving its goal to have 10 million visitors each year by the year 2010.

New rent formula confirmed for property in Dubai

Wed, 20 Aug 2008 00:00:00 GMT

Defining structures for property in Dubai rent, The Real Estate Regulatory Authority (RERA) has finished a formula and is busy getting ready to launch that index early in the coming year.The director of Owner's Relationship Management Department in RERA, Mohammed Khalifa bin Hamad, says that this will prevent landlords from overpricing and continuously increasing tenants’ rent. He adds that: "RERA has defined the average annual rents for studios, one, two and three-bedroom apartments and compound and single villas". Transparency is aimed for over the rental rates in each region and would also be helping investors to put their strategies together.

The formula is meant to be used and act as a guide for landlords when pricing accomodation in Dubai, and is not legally binding; it shows a reasonable rental rate for every unit in all the buildings or compounds, and they foresee it to be followed by most when the regulation regarding property in Dubai comes in to play. Eisa Al Maidour, assistant director-general of Dubai Municipality for Planning and Building Affairs, says that increasing concerns regarding the unfavourable impact of the rapid urbanisation has lead to a vital need “sustainable, eco-friendly and energy efficient property development” and a real need to eliminate, as far as possible, any negative impact on the environment.

In the meantime investors in property in Dubai are crossing thumbs that the new real estate court, set up especially to sort out disagreements, will bring some clarity over the real estate market in Dubai as it starts operations in the coming month. At the moment most people with disagreements come into contact with RERA hoping that an outcome for their problem will be reached. Most of the cases never even get to the civil court, and due to waiting periods anywhere from 18 months to 3 years investors are put off.

New Flights to Hurghada, Hotspot in Egypt

Tue, 19 Aug 2008 00:00:00 GMT

Flyglobespan, a low fare cost effective Scots airline, now boasts with direct flights between the much sought after resort of Hurghada offering accommodation at lovely properties in Egypt and Glasgow. Chairman of Flyglobenspan, Tom Dalrymple, says: "We are delighted to be launching another direct flight from Scotland to Egypt. The success of the Sharm el Sheikh - which began as a winter destination only, but proved so popular it soon became one of our year-round destinations and was definitely a contributing factor in this decision. I'm confident that Hurghada, with its sandy beaches, great climate and world-class hotels, will be a great success, attracting a mix of families, couples and dive enthusiasts."

Weekly flights are soon to be offered between the popular resort of Sharm el Sheikh and tickets are currently being sold sale. These flights will be starting in early November, and costing of fares ranging from 120 pounds one-way. The managing director of Glasgow Airport, Gordon Dewar, says: "Egypt is proving increasingly popular with Scottish holidaymakers. Its culture, history and landscape make it a quite unique holiday experience, and visitor numbers have been growing consistently."

Additionally Rick Green, Flyglobespan chief executive, says: "Our summer programme is well ahead of budgets and I have every confidence that our winter programme will prove to be just as successful". Property in Egypt can only profit by the increase of flights to a weekly basis, by boasting the need for accommodation in Egypt, and is becoming an increasingly popular holiday destination with more and more countries throughout the world, by also offering affordability, it also makes it more accessible to a wider range in the market. With the help of this mutually beneficial relationship, properties in Egypt as popular holiday destinations will continue to flourish.

Major development within Dubai Waterfront and Dubai Maritime City

Tue, 19 Aug 2008 00:00:00 GMT

An amazing new project, expanding the coastal property in Dubai by an incredible 820 kilometres and also making allowance with ocean access for trade and entertainment; the Dubai Waterfront, is going to be invested into by Al Fara'a Properties, the flagship subsidiary of the Al Fara'a Construction, Industrial and Property Group. Together with the Dubai Maritime City they aim to leverage the booming demand for high-profile developments along the coast. They have not yet disclosed any information about their developments, but will announce their ventures in line with a new range of developments that would be valued at Dhs10 billion together.

Nitesh Gangaramani, director, Al Fara'a Properties concluded: "The potential of these two mega projects to push Dubai as a major frontrunner in waterfront development is being eagerly anticipated by developers, investors and end-users, and this has fuelled our keen interest in venturing into these world class destinations. Moreover, we will ensure that our signature touch of sophistication and comfort will be incorporated within all of our future projects, which we expect to be delivered in line with the stipulated schedule"

With a solid track record of more than 28 years the Construction, Industrial and Property Group in Al Fara'a has completed prestigious projects in the UAE, and have committed to develop all their projects in line with the US Green Building Council (USGBC) guidelines. The Dubai Waterfront was designed to serve to the residential, commercial and resort properties in Dubai, in effect adding to the number of existing property in Dubai, featuring over 100 different waterfront projects and planned communities of over 150. The Dubai Maritime City is a 227 hectare maritime centre, iconic but also multidimensional this fully-equipped centre is projected to house 400,000 people upon its completion by 2012, offering more accommodation in Dubai.

Sheffield's Real Estate contract awarded to Tepe Akfen

Mon, 18 Aug 2008 00:00:00 GMT

Marina 101: the flagship project for Sheffield Real Estate FZC and part of their Dhs7bn project portfolio in Dubai's freehold real estate space - which includes projects of commercial realty and retail - covers 1.65 million square feet. The hotel comprises the first 32 floors, with 58 floors of hotel apartments and property in Dubai offering amenities on a further 11 floors. Investors are being offered 252 1BR, 204 2BR and 42 3BR elegant apartments, as well as eight luxury duplex penthouses.

They aim to have it completed by the end of 2010 and have awarded the building contract of Dhs1.1bn to a division of TAV, a Turkish construction company, Tepe Akfen (TAV) construction. Sheffield is one of the leading Dubai-based private developers; they also pioneered the money-back idea in Dubai's real estate. With prudent management, they will generate significant returns from Marina 101, which is conceived in line with Dubai's ambitious growth push in the tourism sector of property in Dubai.

TAV construction was established in 2003, and quickly became a leading contractor of property in Dubai. They made a name for themselves through numerous select and architecturally challenging developments across the area and have offices in Georgia, Tunisia, Egypt, Quatar and UAE.

Mr. Abu Ali Malik Shroff, managing director of Sheffield Real Estate says: “Work on the project is on at full swing and we have already completed the casting of the raft. We are confident to complete the project with the support of TAV Construction.” Mr Shroff adds: “Dubai is a global tourist destination and Marina 101 will gain from the Government's efforts at increasing tourist inflows by offering an elegant apartment and hotel to accommodate them.”

Marina 101 is amongst the tallest sky-scrapers offering accommodation in Dubai, and this predominant hotel apartment project gives investors the opportunity to gain returns of 75% on managing their property in Dubai.

New plans for hotels in Bangaluru and Goa and projects in Morocco by East India Hotels Ltd

Mon, 18 Aug 2008 00:00:00 GMT

East India Hotels Ltd plans to strengthen their company in Bangaluru and Goa by opening 10 hotels by 2011, but is awaiting government approval, which they hope to have by October. They intend adding a new hotel as a component of their growth plan as well as another 2,300 rooms and 10 properties, while investing Rs650 crore. Shareholders were told by EIH Ltd chairman PRS Oberoi during the company's AGM on 14 August in Kolkata; AIH plans to invest Rs500 crore to construct a 225-room lavish hotel of about eight acres in Bangalore, investing the rest into a development in Goa, where a 75-room property will be at least 50 acres, consisting of villas and a hotel, with 15 villas available for sale. The company will own all these hotels, including the properties in Morocco.

Being the owners of the Oberoi brand, luxury hotel owner EIL plans to add the Trident brand, that recently ended alliances with Hilton International, now to be combined under EIH Associated Hotels. The company would manage seven hotels, while three would be managed on a management-contract basis. They have a 436-room Trident hotel property at Bandra-Kurla in Mumbai nearing completion, which they expect start operations in January 2009. New flight kitchens will be added in Kozhikode, Mauritius, Kolkata and Kochi as well as the ones in Chennai, Mumbai and Kolkota. EIH will manage kitchens in
Kochi and Kozhikode.

The company plans to sign deals with various real estate developers having a substantial land bank. This will ensure flexibility and higher company profits. For their overseas projects with property in Morocco, including The Oberoi at Muscat, Al Yas Island Resort and Al Raha in Abu Dhabi, Oberoi Dubai, and a resort at Marrakesh, with 40 villas and 100 rooms ensuring more accommodation in Morocco and other regions, management contracts through a foreign subsidiary have been signed.

Increasing Tourism to Egypt Causing Property Investment Boom

Fri, 15 Aug 2008 00:00:00 GMT

Egypt is currently experiencing a vast increase in tourism, according to the World Travel & Tourism Council (WTTC) and the World Tourism Organisation (WTO). This is the main factor in the surge in Egypt property investment and development. New tourist industries, in the form of travel and tour operators and airlines, are springing up to cope with the influx, and this is fuelling the growing trend of investors to buy property there.

Egypt is using real estate and tourism to expand its economy, and the burgeoning tourist industry is aiding in this endeavour. The growing demand for short-term rentals and holiday houses makes investing in Egypt property an attractive option. Another factor adding its weight to this trend is the increasing realisation that Egypt is one of the closest destinations to Europe and Britain that has a hot climate and year round sun, ideal for holiday homes and properties for retired people.

The United Nations World Tourism Organisation (WTO) has released a report showing that Egyptian tourism figures have risen by twenty percent from last year. In addition, tourism in Egypt is on track to grow by seven percent annually over the next ten years, and the tourism minister intends to draw fourteen million tourists to Egypt’s shores by 2011, thereby further increasing the need for Egypt accommodation.

Facilitating this amazing growth is the fact that Egypt has a plethora of attractions, such as its balmy climate, gorgeous white sand beaches, an amazing historical heritage and unique culture. This is contributing to the growing popularity of Egypt property as holiday homes and tourist rental accommodation investments.

All these factors contribute to the abundance of excellent reasons for the annual twenty-five percent capital growth currently being seen in many areas, as well as the double figure rental returns continuing as Egypt property becomes more and more attractive to investors.

Forty Percent Increase in Property Prices in Dubai

Fri, 15 Aug 2008 00:00:00 GMT

According to Al Mal Capital investment bank, the price of Dubai property showed a forty percent increase last month, as compared to July 2007. By contrast, rental returns decreased in July, falling to 6.8% from the 7.8% return seen from Dubai property rentals in 2007, according to Robert Mckinnon, the managing director of Al Mal Capital, who stated this in a letter to investors.

Higher prices are driving the rental returns decrease, as the median rental amount has seen an approximate rise of 23% over 2007’s levels. A slight decrease was also seen in commercial Dubai property, which fell from 12.4% in June to 11.9% in July.

The price of residential property reflected the decline, and only increased by 0.7% over June’s levels. The office market, however, continued to increase, showing a 3.7% growth. Since 2002, when foreigners were allowed to buy property in some areas, the price of Dubai property has soared, and demand has far exceeded supply.

In the Al Mal Capital bank’s report it is stated that some areas of the investment boom will lessen if the US dollar strengthens further, however. While a major portion of the investors who are buying Dubai accommodation come from countries that do not use the US dollar, such as Europe, Great Britain, Russia and Asia, the strengthening dollar will undermine their ability to purchase property and curtail further investment.

The report goes on to state, “It is, however, important to note that taking this more speculative type of investor out of the market could be better for the longer-term real estate picture. We expect that any moderation in prices would ease the transition from an investor-driven market to an end-user market. In our opinion, this would lead to a market driven less by liquidity levels and more by the already strong supply and demand fundamentals.”

Morocco Becoming A New Property Investment Hotspot

Thu, 14 Aug 2008 00:00:00 GMT

The latest contender for the title of foremost property investment country is Morocco, which is ousting some of the world’s best. Homes Overseas magazine has ranked this North African country as a select destination, even outranking previous market leaders Slovakia and Australia.

According to Michael Kent, managing director of Morocco property specialists Moroccan Sands, he’s surprised that it has taken so long for overseas investors to realise the advantages that a Morocco property has to offer. He claims that there is a rising demand from buyers who want to invest in property in Morocco, which, with its hands-on government, healthy banking sector and easy to obtain financing, makes it perfect for a rewarding property investment.

The most prominent investors in Morocco property are the French, along with Middle Eastern countries and local moguls. These are countries that have stable housing markets, and therefore the slump in confidence that US, UK and Irish buyers have shown has not been adversely influenced the Moroccan market.

The number of visitors to Morocco has risen drastically in recent times, as much as eight percent since 2007, according to the Tourist Authority. Reasonable house prices and a number of improvements to the infrastructure, in addition to the burgeoning tourism market, are driving the growing Morocco property market. This has resulted in property there having the potential to be an extremely profitable investment.

Buyers are keen to take advantage of the benefits that the country has to offer, and its increasing popularity is pushing up Morocco property prices. This means it’s not cheap to buy there, but the increasing value of property is assuring excellent returns to investors who buy houses and commercial properties. The need for additional Morocco accommodation to cope with its increasing tourism market will encourage hospitality companies to invest, which in turn will further improve the housing investment potential.

Optimistic view of the Dubai property market

Thu, 14 Aug 2008 00:00:00 GMT

Regardless of the slump in the Dubai property market, Desert Dream Real Estate and Investment has an optimistic view. The company has proved this by its recently launched residential tower that cost in the region of Dh1,7 billion, and has another four projects for the development of even more property in Dubai.

The company’s chairman, Mahmood Khan, stated that travellers coming into the region always “fall in love with the city”. Kahn also expressed his concerns that if the market for property in Dubai is regulated too strictly then investors might be driven away and that this alone might crash the market.

The number of available property in Dubai is expected to increase drastically with the company’s planned projects alone, and anyone seeking Dubai accommodation will find something to suit their tastes. The Dream Harbour project alone, planned for construction along Dubai’s western shores, increases the company’s Dubai portfolio by Dh2.4 billion and Khan says that the company plans on strengthening its projects in Dubai in particular, as well as the rest of the UAE, and in 2009 it will invest in properties throughout the rest of the UAE.

Desert Dream Real Estate and Investment has two current developments underway in Dubai �" Dream Square, situated in the International City, and Dream Bay, a 32-floor tower designed for commercial use. The other four developments planned consist of three residential buildings and one commercial property in Dubai and these four are still in the process of being designed.

Khan says that investors who put money into the Desert Dream property in Dubai are likely to see a return on their investment in a minimum of two years from the date of purchase. Khan added that long-term investors have the option of either renting out the purchased units for further income, living in the units fulltime, or using them as a holiday destination.

Elite property market in Morocco

Wed, 13 Aug 2008 00:00:00 GMT

Property in Morocco has become a world-renowned and inviting opportunity for investors, who now seem to favour this region above any other international property market when considering investment opportunities. The Home Overseas magazine has recently declared Morocco, a country in north Africa, to be the cream of the crop when it comes to tourist destinations. The magazine rated Morocco over and above other major tourist destinations such as Slovakia and Australia, which is no minor achievement for Morocco.

The Home Overseas magazine says that the reason it has rated Morocco so highly on its list of favourite destinations is due to the fact that there is an extensive variety of attraction in Morocco, particularly to those who are interested in investing in property in Morocco, as the prices are more than reasonable and there is never a shortage of those seeking accommodation in Morocco, which means that the returns on investments are usually substantial.

Over and above this, further market growth is expected in the near future due to the continued growth in the number of tourists visiting Morocco on a regular basis, as well as the many improvements on the country’s infrastructure. For these reasons especially, anyone who decides to invest in property in Morocco could very well discover that it is highly profitable.

The Home Overseas magazine also stated that: “Significant capital growth is anticipated across some parts of the country over the next few years.” Jo Sinnott, a presenter for Sky Travel as well as the “Next Big Thing” series on Real Estate TV, stated that property in Morocco is a very good investment. Sinnott went on to tell Property Wire that she is of the opinion that investors could very likely expect quite rewarding returns when investing in property in the country.

Sliding global market to affect properties in Egypt?

Wed, 13 Aug 2008 00:00:00 GMT

It seems that most property markets, irrespective of the country or region, are receiving plenty of bad press lately. However, property in Egypt seems to be exempt from this negative publicity and anyone wishing to invest in overseas properties is advised to consider Egypt as it has become incredibly popular with regards to both investment opportunities as well as to tourists or those looking to retire, and property values are very reasonable compared to those in other countries.

Most international property markets, such those in Bulgaria or Dubai, have been very much in the public eye with regards to investment opportunities, but properties in Egypt have remained low-profile up until about two years ago, despite the large number of travellers seeking accommodation in Egypt. Taking into consideration that Egypt does not seem to be badly affected by the downward progression of the global market, some industry experts think that perhaps there has been good reason for Egypt avoiding the news in the past.

There is good reason, however, for properties in Egypt to continue to be highly sought after despite the global trend, and perhaps this trend is the reason for Egypt’s popularity in recent years. Egypt has a spectacular amount of natural splendor, and travellers will only take a mere five hours to arrive in Egypt, if flying from the United Kingdom, which is a considerably short flight considering the amount of time it takes to reach other popular destinations. From the Red Sea resorts to the Mediterranean resorts and more, there is so much to enjoy in Egypt that travelling from region to region can be likened to travelling to a different country.

More importantly, properties in Egypt are affordably priced and especially perfect for UK investors’ pockets. In some regions of the country beachfront apartments can be bought for a mere £30,000 �" an amount for which investors can still expect to see a capital growth of at least 20% per year.

Dubai Freehold Properties

Tue, 12 Aug 2008 00:00:00 GMT

The government of Dubai recently declared that outsiders now have freehold property rights, which means that anyone, whether for holiday or business purposes, may now purchase any property in Dubai, from villas to self-catering apartments, and more. Since the announcement was made, many foreigners have purchased freehold properties in order to make money �" Dubai doesn’t expect its economy to slow down any time soon and the investments are expected to be worth the buyer’s while.

The economic growth in Dubai is a world-wide topic of conversation. Even though the United States economy has recently slowed down, the cost of petrol is ever-increasing, and commerce the world over is suffering, Dubai’s economy continues to flourish. Over the last few years property in Dubai has provided substantial dividends to property owners and investors alike, and the number of people seeking accommodation in Dubai appears to still be on the increase.

Purchasing or investing in property in Dubai is an assured way of making money, taking into account that the emigrants currently making Dubai their home take up about 80% of the population, as well as the large amount of tourists regularly flocking to Dubai. Although Dubai’s thriving economy is surprising to many, perhaps it can be explained further by the increasing amount of construction projects on the go and the special rates that come with new hotels opening, along with the ever-increasing amount of new attractions included in these development projects. There is also a large amount of both individuals and investors who purchase holiday villas or self-catering apartments.

Also taking into consideration that Dubai is an all-year-round tourist destination and hosts a multitude of interesting events throughout the year, it is not at all surprising that freehold properties in Dubai are so popular to both investors and holiday-makers alike.

Properties in Egypt dubbed “a good investment”

Tue, 12 Aug 2008 00:00:00 GMT

It is said by many that on an overall basis, properties in Egypt are an incredibly prudent investment for anyone who would like to own a house or flat in the area, and estate agents in Egypt are cashing in more and more due to the increased numbers of buyers and investors who are becoming aware of the value of Egyptian property. Anyone who is interested in or planning on investing in overseas properties would be interested to know that a spokesman for the property website Amberlamb, Andrew Williamson, says that the reason for Egyptian properties being in such high demand rests in the fact that Egypt has and continues to see a remarkably high degree of capital growth.

Williamson goes on to say that the region has many other benefits to anyone that is considering purchasing property in Egypt, including no stamp duty or any other type of property taxation, amongst other things. Williamson also states that because Egypt is one of the few regions in the entire world where one is able to buy a beachfront apartment for the low amount of more or less £30,000 and can be almost certain that within one year the capital growth will have reached at least 20 per cent, property prices in Egypt are steadily increasing.

Williams ends by saying that: “Unlike other property markets overseas, the Egyptian market was far later to take off and therefore isn’t showing any signs of dramatic correction in property prices, such as experienced in Spain.” Properties in Egypt that are available for rental are more likely than not to be booked out on a regular basis by those seeking accommodation in Egypt, either for business intentions or for leisure purposes, due to the healthy tourist trade in the region, says Buy Association.

Why the rush to invest in property in Brazil

Thu, 31 Jul 2008 00:00:00 GMT

Although this Latin American country has remained a popular tourist destination for a number of years, it is now also catching the eye of investors, locally and abroad.

Property in Brazil is now being considered one of the most attractive and lucrative options for long term foreign investors.

Thanks to a growing economy, a stable political system and an expanding housing market, this South American country is fast becoming the next best in foreign investments.

Coupled with a beautiful, year-round tropical climate, Brazil has definitely found its niche in an already booming foreign investment market.

It is important, however, to bear in mind that regardless of the vastness of Brazil - there are only a few areas, at present, which offer realistic chances of investment returns.

A predicted rise in housing prices, in and around Brazil, could prove to be highly lucrative to many investors, as most areas in Brazil can expect to see a growth of up to 20 per cent �" meaning buyers can later re-sell and walk away with much more than the original purchase price.

A major contributing factor to the increase and considerable growth in Brazil’s housing market lies in the fact that new flights into the country are opening Brazil up to the rest of the world, accordingly increasing and piquing interest from foreign investors.

An obvious prime investment area is the former capital, Rio de Janeiro, already famous for its tourist beaches, carnival and spectacular national backdrop �" this popular city remains one of the pivotal economic and social centres in Brazil �" and provides brilliant investment opportunities.

The ‘Times’ magazine summed it up perfectly: “Latin America is high on glamour, but low on prices. The perfect mix for investors”

The average property price in these sought after Brazil regions is considerably less than those in Europe, with the average apartment costing at approximately £38 000.

In an attempt to further boost the economy and particularly the housing market growth in Brazil, authorities have taken on a series of infrastructure projects, countrywide, as well as implementing measures in which to improve the social, political and economic situation in Brazil.

What more can be said to further indicate the growing potential of this more than lucrative country.

Property Select offers a comprehensive selection of overseas property in Brazil, news, members club and reviews of the latest property developments.

Property in Dubai and what it entails for investors

Thu, 31 Jul 2008 00:00:00 GMT

The emirate is fast becoming an important financial centre and a tourist haven - as it undergoes rapid expansion and continuing government-controlled tourist and business development.

Investors into Dubai's property market are likely to be more than happy with the returns they achieve - and demand for property and tourist growth should only make their investment more secure and profitable over the coming years, one expert has said.

Property authorities in Dubai are planning introduce long rental contracts between landlords and tenants, as they look to soften rapid rent price inflation in the emirate.

Dubai, as a property investment destination is poised to be a top choice property for a while yet, according to research from overseas investment portal Homesgofast.com.

With the average cost of a property in Dubai still remaining reasonable, it is of no wonder why Dubai was voted the top investment hotspot for January 2008 - with many clients coming from the British Asian community - despite the region witnessing a development slowdown as new laws take effect.

Enquiries to the website from over 170,000 visitors in January 2008 give an early indication that Dubai is one of the most sought-after locations, according to the company.

This is a positive reflection, as one can see that the property sector in Dubai is progressively growing, and has maintained profitable margins whilst continually providing lucrative opportunities for keen property investors.

Rent prices have been subject to rapid inflation in recent years, as demand for rental properties continues to outstrip demand, despite the high level of development in the emirate.

Landlords are subject to a seven per cent cap on rental rises, although this no longer exists when the tenant changes - so property owners are free to up rent prices as soon as they get a new tenant in.

Because of this, studios and apartments in popular complexes can make excellent investments, commanding high rental yields and strong prospects for future growth, according to Giulio Giancovich, a senior Dubai consultant at The Best in Dubai.

"Purchasing a unit in one of the luxury new residences such as Lago Vista or Ocean Heights can net you up to 18 per cent rental yields per year," he comments.

"With up to 51 per cent tax free growth and an expected 15 million tourists by 2010, the buy-to-let market is a very attractive prospect for property owners," he adds.

Property Select offers a comprehensive selection of overseas property in Dubai, news, members club and reviews of the latest property developments.

Egypt property industry booming

Thu, 31 Jul 2008 00:00:00 GMT

Egypt as an economy and as an intelligent investment choice is fast becoming a force to be well reckoned with.

“Confidence in Egypt is running at an all time high, investment commitment is being made because the international community has faith in the policies and visions of the current leadership in Egypt”

The Egyptian property industry seems set for a bright future according to predictions from a recent study. The inclination towards property abroad seems set to continue with the British and Irish Buyers firmly behind the wheel.

As emerging markets (like that of Egypt) have become more accessible and foreign governments are increasingly more active in following procedures in an effort to attract inward investment, experience shows that the Egyptian government are leading the way as they tend to be more adventurous than many of their counterparts, when it comes to ensuring policies and infrastructure remain a key focal point for the government.

Pierre Cailleteau, Vice President of Egypt, has summarised Egypt’s current economic status perfectly: “evidence of a decisive break with the past is mounting �" and it is this that is creating a strong flow of international property investor interest across Egypt.”

A further study, conducted by Datamonitor has predicted that ownership is set to almost double over the next five years.

According to Nicholas Marr, (CEO, Overseas Property Portal: Homesgofast.com), “Buying overseas property is a life long goal for many buyers.”

This combined with the fact that overseas property investors are seeking better growth and cheaper property prices, allows one to see more clearly why property in Egypt is so attractive.

Moody’s Investors Service recently released a report, analysing and receiving the economic status of Egypt, comprehensively. The finding of this report collates with independent research conducted by the Institute of International Finance �" it was found that “Egypt’s performance reveals an overall positive economic outlook emerging which is good for Egypt’s property sector.”

What is interesting to note is the fact that investors are pouring in regardless of the fact that they will only see positive returns within the next decade or so…

This is highlighted by property experts, Amberlamb, “foreign direct
investment in Egypt this year is already running at its highest level for many years thanks to a couple of mega privatization deals, and that a number of high profile international investors are committing to the nation despite warnings that the profitability of their investments may not come to fruition for another decade or so.”

Overseas property buyers cross all types of people and income groups. The age of our buyers are now getting younger with a larger percentage of 20- 30 year olds seeking property abroad than 3 years ago’

Given the rate of growth that Egypt has been experiencing, it is safe to conclude that the growth will continue to affect Egyptian life as we know it, and affect it positively.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

All you need to know about Hurghada, Egypt

Thu, 31 Jul 2008 00:00:00 GMT

Renowned for its pristine quality of service and style, and as an adobe for tourists, Hurghada has a preceding reputation of quality versus quantity.

Hurghada, also known as ‘Al Ghardagah’ by locals, is an Egyptian city and a popular tourist city.

Due to the fact that Hurghada is situated along the shores of the Red Sea, almost all developments are inevitably beachfront properties.

Hurghada lies on a promontory projecting into the sea, some 380 km to the south-east of Cairo. Once an isolated fishing village, Hurghada emerged as a key site early in the 20th century. From the 1980s, the city has expanded and flourished, and is now the leading resort along the Red Sea Coast.

Founded in the early 20th Century, Hurghada has been on a continuous growth spiral, so much so that Hurghada is now the leading resort destination along the Red Sea.

Presently, this former fisherman’s village hosts 40 000 inhabitants. Divided into three main parts, namely: El Dahar (the old district, downtown); Sekalla (the modern district) and El Korra Road (the most modern district), Hurghada has plenty to offer its visitors and residents. For example: Sekalla is where one would find relatively modest Hotel quarters, whereas El Dahar is where one would find the town’s largest bazaar, post office and bus station.
Property markets indicate that it is possible to fetch a luxury beachfront studio apartment in Hurghada for as little as £15 000, while a fully furnished turn-key apartment will have you looking at £20 000.
Stretching approximately 40km along the Red Sea coastline and not reaching too far into the desert, Hurghada is perfectly situated to enable a guarantee of luxurious relaxation at its best.

Many of Hurghada’s beach resorts are all-inclusive, self-contained entities that satisfy the visitor’s every need and desire. Amenities include discos, bars, playgrounds, swimming pools and small theatres.
Hurghada has its own international airport that receives many charter flights every day. Hurghada is well connected to Cairo and Luxor by bus. There are also ferries to and from the Sinai Peninsula.
Minibuses seat up to a dozen people, and are probably the cheapest means of intra-city travel.

Another option is car rental. Several international rental companies are represented in Hurghada.

Within Hurghada, public transport is good. Collective service taxis operate on a wide variety of routes. They are quicker than buses, and can depart (and arrive) at any given time.

Prices are on the increase, daily �" as new developments are re-priced, on average, every quarter. The amounts of these quarterly-increases vary according to the exact locality of the development and the apartment position within the complex, but a ten per cent increase is the average quarter-hike for the best located development on the market.
Hurghada is known for its spectacular landscape, rich in canyons and mountains. The desert safari is a wonderful means of experiencing this colourful terrain. Several operators in Hurghada arrange such safaris, most of which last between 1 and 5 days. Participants may select from camels, horses, quads and 4x4 vehicles.

Hurghada Aquarium and Museum boasts a wide selection of Red Sea plants and animals. It is open from 8am to 8pm.
Remaining a popular holiday destination for residents of Cairo, the Delta and Upper Egypt, as well as gaining popularity as a package holiday destination for many European tourists (i.e. Russians, Germans, etc), Hurghada is on the rise in leaps and bounds.

Giftun Island provides a superb day outing for the whole family. Besides excellent snorkeling, one has the opportunity to view the Red Sea underworld from a submarine. The island is well populated with shops and boutiques, and there are also some interesting historical sites such as the Roman porphyry quarry remains.

El Gouna lies 20 km to the north of Hurghada. A purpose built leisure resort, it boasts a 10 km stretch of beachfront. Its water activity opportunities are excellent, and include facilities for water skiing, parasailing, snorkeling and windsurfing. For those who favour land-based activity, the 18-hole USPGA Golf Course offers a world-class game.

Safaga is slightly south of Hurghada. This port town comprises several tourist villages specializing in diving holidays, and is complete with outstanding hotels and seafood restaurants. The town’s clean sandy beaches and stiff sea breezes make it an ideal location for windsurfing.

Other nearby islands is Shaab el-Erg, Shaab Abu Ramada, Abu Minquar, Careless Reef and Shadwan Island. All offer excellent swimming and diving conditions.

Sharm El Naga is a village located 40 km south of Hurghada. Its beach boasts the most beautiful reef cliff in the region.
The Hurghada Casino, at the Hurghada International Resort and Casino, provides an alternative night on the town. Games on offer include Black Jack, Poker, Roulette and slot machines.

Hurghada is a true party town. The night clubs are concentrated along the same main street as the hotels and, although they attract mostly young people, there is entertainment enough for everyone.

More facts on property in Brazil

Wed, 30 Jul 2008 00:00:00 GMT

Brazil and its recent financial statistics seem to rival its famously fleshy beaches as a reason for property investors to choose Brazil as top property choice.

Brazil's financial funding institutions have been positively marked by the recent favourable financial conditions, and are offering lower interest rates over longer periods as a result. The country's domestic property market therefore is saturated with cheap credit and, accordingly, is surging as strongly as its overseas counterpart.

Indeed, last year foreign investment doubled to $34.6 billion, and with credit-rating company Standard and Poor's now considering Brazil's currency to be 'investment grade', this level of interest looks certain to increase.”

Whilst inflation is currently on a tight rein and the global commodity prices keep booming in all the right areas, only benefiting Brazil, the land of the samba can now finally boast a steady economic pulse.

The mounting hype surrounding property in Brazil has ensured that “a frenzied buying crowd is pushing property prices right up before our very eyes.”

So, is buying property in Brazil still affordable? Fortunately for potential investors, it most definitely is!

Investors the world over have been inundated with prospective investment opportunities in and around Brazil.

Although many tourists and investors are initially drawn to Brazil because of its tropical lifestyle, laid back living, stunning environs and enchanting fauna and flora �" Brazil is also an attraction due its emerging economy.

Assuredly, all these contributing factors are enabling Brazil as an economically viable country, and ensuring a growing demand across all sectors, searching for investments which hold long and short term potential for growth.

International interest shown from investors is largely focused on Rio Grande del Norte in north-eastern Brazil. As an explosion of developments now offer property buyers an affordable range of beachfront accommodation in Brazil.

Brazil not only offers the authenticity of a true Latin American country, complete with ‘flava’ and panache, it also has on offer all the comforts and necessities of modern-living.

At the end of the day, these recent financial figures will prove to be excellent value for money over an inordinate length of time.

Property Select offers a comprehensive selection of overseas property in Brazil, news, members club and reviews of the latest property developments.

Dubai and its property sector still beckons to investors

Wed, 30 Jul 2008 00:00:00 GMT

It's estimated that around 27,000 residential units will be delivered by 2010, assuming there are no construction delays, against a demand for more than 100,000 homes.

Although Abu Dhabi's off-plan market presents some excellent investment opportunities - remain cautious. The risks associated with buying a home that has not been completed are far higher, particuarly in a market that lacks transparency, as the development may never be finished.

As in the words of many property experts, “The property market in the UAE is one of the most attractive markets in terms of rental yields. For property investors, self-employed professionals and others participating in this high-growth market, 'Irad' allows the opportunity to utilise rental returns to cover the cost of finance. In other words, the finance will pay for itself. This unique value proposition, with its Sharia-compliant structure and flexible profit rates, therefore offers significant opportunities for new and current investors to participate in the country's real estate success story." (Nabil Abou Alwan)

If you do decide to buy off-plan, always ensure that you purchase from a reputable developer. There are many unscrupulous operators in the property business.

There are currently 186,200 residential units in Abu Dhabi, with this figure expected to rise to 213,000 by 2010. However, Colliers
International estimate that it will not be until 2013 that Abu Dhabi has sufficient new supply of homes to cool the local market with the expected delivery of 140,000 units by that year.

Rents in Abu Dhabi are also rocketing upwards, exceeding Dubai. Colliers International report that average rents in the UAE capital city have appreciated by around 22% over the past year.
Average property prices in Abu Dhabi soared by 53% over the past year to $580 (£293) per square foot, according to Colliers International.

Yet the estate agency projects that property prices in the UAE could appreciate further over the next few months due to the continued shortage of accommodation in the country.

According to Jet-to-Let magazine, the Asian country is one of the top ten hotspots for property buyers from the UK.

The UAE was ranked eighth in the list, ahead of rival markets Brazil and Turkey and inside the top ten for the very first time.

Dominic Farrell, editor of Jet-to-Let magazine, said the popularity of investing abroad highlights the lack of faith in the British housing market.

He commented: "This reflects the perception by investors that there are better opportunities elsewhere."

Figures from the magazine showed that during the next two years, more than half of investors in the UK plan to buy a property abroad.

Dubai property expert Ryan Mahoney recently told Gulf News that local real estate professionals were still experiencing record levels of demand from both investors and home buyers.

Chief executive of Buniah Group, Mohammed Al Safeen, commented: "Rental yields in the UAE have remained high in recent years … In the coming four years; it is likely that rentals will flatten, while property values will continue to rise."

He went on to say: “the market was set to soar in such a way that any family planning on spending three years or more in Dubai would do well to purchase a property.”

However, those still looking to invest in property for sale in Dubai may be interested to know that prices have been tipped to rise.

Due to the availability of cheap capital with low interest rates and relatively high rental costs, increasing numbers of people in the United Arab Emirates are looking to buy their own properties. (Business 24-7)

This comes after the Centre for Future Studies revealed that a growing number of Britons are choosing to go to the UAE because it offers larger pay-packets and a lower cost of living.

Officials in Abu Dhabi are expecting a shortage of nearly 20,000 homes in the next year as demand grows and the population expands.

Mohamed Alabbar, (Chairman, Emaar), told the news agency that the “reason for the inflation means it is unlikely to affect property for sale in United Arab Emirates.”

The demand for property in United Arab Emirates is likely to remain strong for the foreseeable future, according to one of the leading player's in the country's real estate sector.

Several recent media articles have opined that the local property market cannot hope to continue the upward course of recent years and predicted that a correction is close.

Property Select offers a comprehensive selection of overseas property in Dubai, news, members club and reviews of the latest property developments.

Why investors are still opting for property in Egypt

Wed, 30 Jul 2008 00:00:00 GMT

Following the recent trends, one will easily see that Egypt has ensured it remain a top tourist destination �" regardless of the current economic crisis and credit crunch, experienced in the European and British cities, investors remain undeterred when it comes to property in Egypt.

Egypt’s credibility as a nation, and its increasing success in the tourism market, can in large be attributed to the fiscal reforms the Egyptian government have committed themselves to.

Confidence in Egypt, as an emerging property market is at an all time high, due in part to the fact that the international community have faith in the policies and visions of the current Egyptian leadership.

There is a general consensus that investors consider property in Egypt, as an investment option, thanks to a “strong market in terms of excellent long term potential.”

Due to the fact that many Britons have an ‘insatiable desire’ to own property in a sunny location, the recent global economic slump has done little to suede investors from looking abroad.

In contrast to this is the fact that many other countries are currently in a position to offer good capital growth against relatively low and reasonably priced property.

Chris Nourse (Multicom Manager) went on to say that “Consumers are not willing to give up their holidays abroad, even if they are faced with higher bills and general expenses. Holidays are being seen more and more as essential”.

A large attraction remains the projected guarantee of large rental returns for property situated holiday destinations, the likes of Egypt, Brazil, and Italy �" to name but a few countries.

This climate of positive change is extremely promising, as Egypt is bound for great success, as is aptly worded by Jennette Bradbury (Managing Director, Egyptian Experience), “We expect the Egyptian property market to grow substantially in the next few years. After many years of economic reform the area is ripe for investment. With record levels of tourism, the property market in Egypt offers excellent investment returns, from both rental yields and property price rises."

It is of general consensus that many rental investments will continue receiving good rental returns, even amidst the global economic crisis.

Recent reports also suggest that “foreign direct investment in Egypt this year is already running at its highest level for many years thanks to a couple of mega privatization deals, and that a number of high profile international investors are committing to the nation despite warnings that the profitability of their investments may not come to fruition for another decade or so.”

A reflection of property in Egypt’s gaining popularity is the potential for high returns on investments, with yields being known to reach up to 11 per cent. As a result, Egyptian property prices are on the rise , however are presently still indicative of its ‘newbie’ status in the property sector, as one could expect to pay as little as £37 000 for a 2 bedroom apartment in a beachfront resort-style complex.

Egypt’s wealth of historical background, abundance of exquisite scenery, as well as Egypt’s policy of low stamp duty, death succession duty of 7 per cent, and zero capital gains tax �" translates into an unprecedented potential for positive growth.

All in all �" one is not only guaranteed safety in the knowledge that property in Egypt will only become more desirable and thus increase in property value in the years to come �" but as a hub of ancient cultural knowledge and ancient art, Egypt offers its visitors and inhabitants a plethora of little mysteries to uncover…

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

More on Abu Dhabi and Dubai

Wed, 30 Jul 2008 00:00:00 GMT

Abu Dhabi is a unique destination in the emirates, where luxury and style are infused with the traditional values of hospitality and respect. With sunny weather, tranquil beaches, lush oases, a vibrant city life, as well the mixture of culture and traditions ensures a congruent coming together, which results in the creation of a holiday experience and lifestyle unlike any other.

One is invited, if not enticed to explore the emirate’s old souqs, while sipping a fragrant Arabic coffee, one can also loose time in the dunes on an exhilarating desert safari, or be one with nature by diving into the dazzling marine life - there is something for everyone in Abu Dhabi.
Many investors are largely unaware of the fact that Abu Dhabi emirate is in fact archipelagic, meaning that nearly 200 islands are strewn along its coastline. Accordingly, ‘island-hopping’ is a popular pastime among the more affluent residents (who have boats) and even for non-boat owners, where public transportation is available.
There are various private tour operators, which also offer similar island-hopping services. Due to the fact that some islands are currently undergoing major development, access may be limited for sometime. It is advisable to check with your local tour operator for more information on which islands are accessible at present, and which are not.
The vast number of islands which are available to tourists and the locals in Abu Dhabi are excellent destination choices. The following Islands can be visited and enjoyed at length:
- Lulu Island: perfect for short weekend trips, this large man-made island is situated directly opposite the Corniche and is accessible by boat. Visitors are free to take a dip in the pools or beaches and then enjoy a treat from a couple of restaurants, coffee shops and cafeterias on the island.
- Saadiyat Island: Located to the east of the Corniche, this island is being transformed into a luxury leisure and cultural destination. This island boasts a massive, multi-billion dollar development project that includes “world-class entertainment centres, museums, resorts, upscale residences and business centres are currently being built on the natural island.”
Al Futaisi Island: The perfect bird spotter’s paradise, and situated only five kilometres south of Abu Dhabi city, this island offers a range of activities such as nature trips via a local bus tour or through bicycles. There is also a well-kept stable on the island which houses purebred Arabian horses as well as camels, which can take visitors for rides.

These are just a few of the 200 islands one can visit when in Abu Dhabi.
According to the tourist sector in Abu Dhabi, the best time to pay these bountiful islands a visit would probably be the period between November and April.
Despite the fact that Dubai is quite new on the property-buying radar, many developments in Dubai are setting and maintaining a high standard of quality and service �" making this UAE country a top choice for investors, holiday makers and retirees the world over.

So, why exactly are tourists and investors so keen on Dubai?
Well, aside from the obvious: the famous, sought-after beaches; diverse landscape; rich culture and idyllic climate �" Dubai is also, most importantly, reasonably affordable.

Tourism, as an industry, is quite the relatively new concept for Dubai. This novel industry is however fast becoming one of the main reasons why people are flocking to Dubai in droves.

With an increase in tourism statistics of approximately 30 per cent in the last year alone, one can only assume that the Property Industry in Dubai is also well on its way to new heights and bigger profit margins.

Picture unchartered territory at your doorstep; long lazy days basking in the warmth of the sun; days and nights spent bathing in the warm waters of idyllic beaches �" and you will find your mystery haven is situated no where else but in the delightful Dubai.

Property in Brazil remains buoyant amongst credit crunch

Tue, 29 Jul 2008 00:00:00 GMT

Formerly regarded by many as 'the country of the future' �" due to its immense potential - a spate of recently publicized statistics suggest that Brazil is now fulfilling its economic promise.

A spokesperson for a popular property portal explained that "The credit crunch has limited impact on emerging markets; Brazil has been in the running for a long time to become one of the strongest economies in the world together with India and China.”

According to another source, "Brazil is set to increase its influx of international holiday makers and the demand for rental accommodation will, of course, rise accordingly.”

It is rather clear to the discerning investors that the growing popularity for South America is by no means a novel idea. “There has been steady and solid interest which is substantiated by the upgrade of the country's infrastructure.”

Most media coverage suggests that "Brazil is a positive investment for anyone who wishes to expand their existing property portfolio, not only because of the economic stability but also the strength it is continuously showing".

A solid reason for this could be that Brazil's financial funding institutions have been positively marked by the recent favourable financial conditions, and are offering lower interest rates over longer periods as a result. The country's domestic property market therefore is saturated with cheap credit and, accordingly, is surging as strongly as its overseas counterpart.

With the numbers of tourists rocketing, (there was a 134 per cent increase in visitor numbers between 2002 and 2005), and the World Travel and Tourism Council expecting this figure to grow at a rate of 4.3 per cent per annum until 2014, it is of little surprise that Brazil is now seen as a top destination choice.

Whilst inflation is currently on a tight rein and the global commodity prices keep booming in all the right areas, only benefiting Brazil, the land of the samba can now finally boast a steady economic pulse.

At the end of the day, these recent financial figures will prove to be excellent value for money over an inordinate length of time.

Property Select offers a comprehensive selection of overseas property in Brazil, news, members club and reviews of the latest property developments.

What investors need to know about property in Dubai

Tue, 29 Jul 2008 00:00:00 GMT

Dubai has a history that dates back to around 1799. The city has always been important strategically; however it wasn’t until the discovery of oil in the emirate (in the 1960s) that the emirate’s fortunes began to take on another form entirely.

Many have described the events occurring following the discovery of oil “changed the face of the emirate from a small pearl exporting town into an international, wealthy and world dominant country.”

Dubai is one of the seven emirates which form the United Arab Emirates. Dubai is by large regarded as the most liberal and forward thinking of the seven. It is common knowledge by now that: “As a direct result of its economic and social policies Dubai attracts record numbers of expatriates and investors annually who are attracted by tax free living, fantastic employment opportunities and also by the booming and iconic real estate marketplace.”

In an attempt to improve on Dubai’s infrastructure, and well aware that the emirate’s natural resources are in limited supply, Dubai’s rulers determined that “diversification was the key to maintaining the wealth, status and success of the emirate forever” and accordingly, “a prolonged period of intense diversification began in earnest in the 1980s with the establishment of the Jebel Ali Free Zone which was specifically designed to promote inward investment.”

The fact that foreign investors can now buy freehold property in parts of Dubai and due to the fact that Dubai property sector remains attractively priced, the amount of inward investment into the real estate market is considerable. ‘This is pushing prices up steadily and already investors are making substantial profits on their properties.’

Supporting this claim is the following statement made by a property analyst, “At the same time the demand for quality rental accommodation particularly in and close to Dubai City far outstrips supply, so those with property investments in Dubai are also profiting massively from the ever increasing rental prices chargeable.”

As we can see Dubai is still the place to be for your business and residential needs…

Property Select offers a comprehensive selection of overseas property in Dubai, news, members club and reviews of the latest property developments.

Property in Egypt keeps growing in stature and popularity

Tue, 29 Jul 2008 00:00:00 GMT

The overseas property industry seems set for a bright future according to predictions from a recent study. The appetite for international property seems set to continue.
According to our sources, “Capital growth has been slow to kick off in Egypt, with static prices until late 2005. With so much new-build going up, the market is gearing up for a busy time and resale bargains could be on their way.”

Important to bear in mind is the fact that “Egypt’s property registry is out of date so check that the land your property is on is registered. Older property should already be registered but getting hold of title deeds in Egypt can take time and even prove impossible. Property is bought freehold in Egypt, except for in Sinai, which includes Sharm el Sheikh, where you buy with a 99-year leasehold.”

As emerging markets have become more accessible and foreign governments are increasingly keen to attract inward investment. The age and types of buyers seem to be changing, accordingly today’s international property buyers cross all types of people and income groups. The average age of property buyers are now getting younger with a larger percentage of 20- 30 year olds seeking property abroad.

There are many places to visit in Egypt, with developments being implemented and constructed.

Sharm el-Sheikh is located on the southern tip of Sinai, and is now a firm favourite woth investors and visitors alike. It has the feel of western Mediterranean resort and is the most expensive of the coastal destinations.

Gouna, which is built in a Nubian style (with pastel-coloured domes and arches). With the seductively named Mangroovy Beach, the marina that is formed of a maze of canals and waterfront homes joined by stone bridges, this too is quite popular with the internationals.

Further south is Hurghada, a resort traditionally popular with scuba divers. It attracts a younger crowd and is filled with nightspots, cheap bazaars and internet cafes.

Quite obviously, there is so much to see and do in Egypt, is it of little wonder why this country ahs remained on the top of tourist and investor spots for quite some time now.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments

News on buying property in Brazil

Tue, 29 Jul 2008 00:00:00 GMT

Brazil is seeing a number of new off-plan developments and infrastructure plans that are driving international investment. Turtle Bay Beach and Golf Resort is one of the many new developments that is set to draw plenty of international and Brazilian property buyers to this area of northeast Brazil.

This particular development offers a choice of 3 villa types, each of which will consist of 3 varying options dependent on the size of the plot and the orientation.

The plots are situated throughout the property with differing views and back-ground settings. There are the beachfront properties and plots which include a golf course and views which overlook lagoons and the equestrian centre. Each home is due to be fully equipped with tantalising terraces and lush gardens for 24-hour enjoyment of this awe-inspiring area.

The Discovery Coast, yet another popular environment is situated along 90km of seafront in Bahia. Beginning to the north of Porto Seguro and running up toward the north of Belmonte, you will find this little ‘utopian’ development.

The town of Belmonte has a population of 22,000 inhabitants and is about 45 km north of Porto Seguro. Not unfamiliar to eco travelers, this destination (and it’s government) seeks to retain the natural surroundings and preserve the area, limiting developments to specifically designated areas �" thus keeping damage to the environment to a minimum. Porto Seguro currently has a small international airport and is developing plans for a major new airport.

In light of all of the above, it is transparent as to why the North-East region of Brazil continues to capture the imagination of international property investors.

Supporting this viewpoint is the claim made by many property analysts stating: “It is no surprise this is happening as returns on land are generally equal to - or higher than - returns on bricks and mortar and come with a much lower entry level price. Indeed, land prices in Natal are forecast to go up by 15%-25% per annum based on current market trends.”

Another interesting fact about Brazil, and its property sector, is the fact that according to many sources that “There is plenty of cheap land available in Brazil, some in the middle of nowhere that is being marketed as a good investment. Several of these plots are classed as rustic land (not buildable at present) and consequently do not have utilities (power and water) and infrastructure (roads).”

Important to bear in mind here is that “Purchases in such land should be considered as high risk and purely speculative on the basis that one day they might get urbanised and the promoter might actually implement the infrastructure required.”

As one researches more about Brazil, is becomes clear that the actual cost of such land is actually quite inexpensive, “which is why the land is marketed cheaply by European standards, even with the very healthy margins build into the sales price.”

As is apparent in all property sectors, and perhaps should be common knowledge, location, location, location! Perfectly worded by a popular property portal, “The location of plots and property is critical to maximising the investment potential. All regions and locations in North East Brazil are clearly not the same and nor is their investment potential. Just because something is cheap doesn't mean it is a good investment or good value for money. It can a big risk to buy cheap land site unseen based on price alone, as the likelihood is it will always remain just that - cheap land. ”

Needless to say, intelligent investors know that you get what you pay for and that a prime location is critical and imperative to an investment's potential.

According to another popular news hub, “Infrastructure services such as power and water have already been installed and the roads will be complete within the next three-six months.”

Clearly a positive turn of events, when one considers the ripple effects this will have on all fronts �" a positive determinant indeed when trying to determine which destination would be best to invest in.

The facts on Property in Brazil

Tue, 29 Jul 2008 00:00:00 GMT

Bearing only good news for property investors in Brazil is the very latest statistics from the World Travel and Tourism Council (WTTC). Relating to the tourism based demand in Latin America with specific focus on Brazil, highlighting the fact that Brazil’s commitment to a fiscal and political overhaul, and to the greater promotion of the nation as a desirable and safe place to visit, invest, do business and live is proving more than successful.

The vast majority of individual property investors who have committed or who are considering committing to Brazil’s property market are currently basing their commitment and predictions for growth and profitability on the ongoing development of Brazil’s tourism market…

Experts have said the hype surrounding Brazil's investment potential is entirely justified as it offers numerous attractions to foreign property investors.

Property in Brazil will be boosted by the WTTC statistic which show that travel and tourism demand in Brazil in 2007 is growing at a rate of 7.2% �" almost 3% higher than the global average increase �" and that for the next decade this increasing intensity of demand will remain exceptionally strong.

For property investors who were biding their time and waiting to see hard evidence of the sustainability in terms of the stabilization and improvement of Brazil, the World Travel and Tourism Council statistics combined with the news that we reported last month relating to General Electric Real Estate’s commitment to invest heavily and for the long term into property in Brazil, enough evidence is stacking up in favour of a property purchase.

A spokesperson for Knight Frank claimed that people are choosing to purchase property in Brazil for a number of investment reasons.

Investors choosing to buy second homes in the country are doing so to take advantage of potentially higher gross profits, he said, while others are "looking for value".

"It is somewhere which has not been developed to the extant of Dubai or Spain, so it offers a bit of exclusivity," he commented.

Hetal Shah, director of Investors Provident, recently suggested that people seeking to purchase investment property abroad are becoming "quite adventurous" when moving into new markets, such as Brazil, Egypt and Morocco.

According to Mr Shah, capital growth in these emerging property sectors is often between ten and 15 per cent a year.

Seeing the economic boost that, the Brazilian government has since committed to everything from infrastructure and accessibility improvements to an aggressive global push in terms of the promotion of
Brazil as an exciting place to visit, and as is clear from the WTTC statistics, the government’s actions are proving successful.

Overseas property investors are beginning to discover the opportunities offered by the emerging Brazilian market, according to one expert.

Property Select offers a comprehensive selection of overseas property in Brazil, news, members club and reviews of the latest property developments.

Dubai and what all investors should know

Tue, 29 Jul 2008 00:00:00 GMT

If you do decide to buy off-plan, always ensure that you purchase from a reputable developer. There are many unscrupulous operators in the property business.

There are currently 186,200 residential units in Abu Dhabi, with this figure expected to rise to 213,000 by 2010. However, Colliers
International estimate that it will not be until 2013 that Abu Dhabi has sufficient new supply of homes to cool the local market with the expected delivery of 140,000 units by that year.

Yet the estate agency projects that property prices in the UAE could appreciate further over the next few months due to the continued shortage of accommodation in the country.

It's estimated that around 27,000 residential units will be delivered by 2010, assuming there are no construction delays, against a demand for more than 100,000 homes.

Although Abu Dhabi's off-plan market presents some excellent investment opportunities - remain cautious. The risks associated with buying a home that has not been completed are far higher, particuarly in a market that lacks transparency, as the development may never be finished.

Rents in Abu Dhabi are also rocketing upwards, exceeding Dubai. Colliers International report that average rents in the UAE capital city have appreciated by around 22% over the past year.
Average property prices in Abu Dhabi soared by 53% over the past year to $580 (£293) per square foot, according to Colliers International.

According to Jet-to-Let magazine, the Asian country is one of the top ten hotspots for property buyers from the UK.

The UAE was ranked eighth in the list, ahead of rival markets Brazil and Turkey and inside the top ten for the very first time.

Dubai, as a property investment destination is poised to be a top choice property for a while yet, according to research from overseas investment portal Homesgofast.com.

Enquiries to the website from over 170,000 visitors in January 2008 give an early indication that Dubai is one of the most sought-after locations, according to the company.

The research also points to an investor trend towards lower-priced properties.
”Over 50 per cent of visitors to the site were seeking property in the overseas market for £60,000 or less.” (www.homesgofast.com)

With the average cost of a property in Dubai still remaining reasonable, it is of no wonder why Dubai was voted the top investment hotspot for January 2008 - with many clients coming from the British Asian community - despite the region witnessing a development slowdown as new laws take effect.

This is a positive reflection, as one can see that the property sector in Dubai is progressively growing, and has maintained profitable margins whilst continually providing lucrative opportunities for keen property investors.

One thing is clear, as en emerging and steadily progressing property sector, Dubai has become a force to be reckoned with.

In conclusion, as is perfectly worded by the authors’ of TheMoveChannel.com: “Never content to rest on its laurels, the UAE’s defining characteristic seems to be its unshakeable quest for continuous improvement �" something that has underpinned the success of States like Dubai and Abu Dhabi. And with major infrastructure investment occurring across the Emirates, it’s an exciting time for prospective investors.”

Property Select offers a comprehensive selection of overseas property in Dubai, news, members club and reviews of the latest property developments.

Investors continue to opt for property in Egypt

Tue, 29 Jul 2008 00:00:00 GMT

The prospect of growth in developing markets means that property investors are becoming more adventurous in their choice of location, an investment firm has said.

According to Mr Shah’s comments, "I think with the established markets, it's never going to really die down. Even with the recent scare in the Spanish property market, I don't think it's really died down to that degree. Even in tried and tested markets, I don't think you can go wrong … You've got the security, you've got guaranteed capital growth; although it's going to be slow. It's not going to be as high as what you’d find in somewhere like … India, or Brazil, Morocco, Egypt.”

“We're finding that Morocco, Egypt and Brazil seem to be the highlights of the day at the moment … People are being quite adventurous in that respect. And capital growth is really, really good in these locations. You're looking at anywhere between ten, fifteen per cent a year," he added.

The possibility of snapping up a bargain property is drawing many foreign investors to Egypt, an expert has stated.

An estimated £4 billion of City bonuses predicted for investment in the capital's properties is now finding its way to overseas housing markets according to experts at the Homebuyer Show.

A shortage of suitable London properties is seeing investors with bonuses to spend looking overseas, new research reveals.

Most estate agents in the traditional investment area of the City and Docklands had less than ten properties for sale at any one time at the end of last year - an all time low.

This means the markets next in line for investment are likely to be Egypt, France, Spain, Bulgaria and the United States, with more adventurous investors buying homes in Barbados, Dubai and Brazil.

"These wealthy investors will be attracted to places like Egypt, where they will be able to avoid paying tax on their purchases," commented Nick Clark, (Managing Director of Homebuyer Events).

"We will also see considerable investment taking place in Europe, both in traditional countries like France and Spain as well as the emerging markets of Egypt, Poland, Bulgaria and Hungary."

Property experts in Egypt have commented how: "Over the past few months we have seen an increasing number of people, especially from the London area, wanting to buy larger more luxurious properties of two and three bedroom apartments and putting down 50 per cent or more of the property price as a deposit.”

Paul Collins, spokesperson for the BuyAssociation website, stated that the country was very popular because of the relative affordability of high-quality houses.

Commenting on the Egyptian market, he said: "Property is very, very cheap in comparison with other places where you have similar facilities and similar climates."

He added that the country's weather was also a strong draw for overseas investors, as they were "virtually guaranteed" to get hot and sunny conditions when visiting.

Other markets gaining investor interest include the Latin American country, Brazil, which appears to be more attractive thanks to good exchange rates and luxury properties from £130,000, and Dubai, which has proved popular due to the tax-free earnings it offers and the high rental yields of eight to ten per cent.

Meanwhile, tourists in Egypt are currently enjoying the opportunity to view the face of the country's former ruler King Tutankhamun.

The mummified pharaoh has been placed on public display for the first time, exactly 85 years after it was first discovered.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

What to do when in Abu Dhabi

Tue, 29 Jul 2008 00:00:00 GMT

A visit to Abu Dhabi is incomplete if you have not stopped by the charming Heritage Village It is serenely positioned overlooking the Corniche, near Abu Dhabi’s Breakwater and only a short distance away from the imposing Marina Mall.

Visitors can gauge some inkling of what life was like for Abu Dhabi’s Bedouin by viewing a reconstruction of their traditional desert encampment - including a goat’s hair tent and a campfire with coffee pots.

The Heritage Village also features a reconstruction of the “old well and irrigation system, mud-brick houses, old fishing villages and souqs (bazaars).”
Quite interestingly the Heritage Village features several workshops that simulate old-fashioned metal work, pottery and weaving, the heritage village craftsmen often let visitors try their hand on such skills.

A spice shop within the Heritage Village treats the visitor’s culinary senses and a small souvenir also shop sells handicraft items.

A mini-museum featuring artifacts such as diving tools, jewellery, weapons and coffee pots, amongst others, rounds up the Heritage Village experience.
There are no restrictions for photography here. Therefore, visitors are encouraged to keep their camera handy for photo opportunities with the friendly local craftsmen amidst their exotic landscape.

Another popular tourist attraction and local landmark is the Sheikh Zayed Bin Sultan Al Nahyan Mosque. Considered by many as one of the most imposing religious and national landmarks in Abu Dhabi to date.

It is also arguably one of the most important architectural treasures of the contemporary UAE society - and one of the most beautiful in the world - initiated no less by the late president HH Sheikh Zayed bin Sultan Al Nahyan, (who is fondly thought of as the father of UAE.)

The Sheikh Zayed Bin Sultan Al Nahyan Mosque, popularly called Grand Mosque by local residents, is seen as a “globally unifying” landmark from its conception to completion, bringing together designers, features, materials and suppliers from nearly every corner of the globe: Italy, Germany, Morocco, India, Turkey, Iran, China, Greece and the UAE.

Natural materials were chosen for its design and construction, which include marble, stone, gold, semi-precious stones, crystals and ceramics.

Also popular as a tourist destination is the Hili archaeological site. Situated within a public garden, it is accessible from the Dubai Road, some 10 kilometres outside Al Ain.

Visitors, including those with children, can enjoy the landscaped public garden whilst having a picnic especially during the cooler months.

This public garden features an important site where remnants of a Bronze Age settlement was excavated and restored.

This site yielded a tomb containing the remains of well over 200 individuals as well as valuable artifacts including ceramic and soft-stone vessels believed to be imported from Iran or Baluchistan that are now displayed at the Al Ain Museum.

Hili is near Fossil Valley, an area which was covered by sea many thousand years ago, and hence, serves as a mini-reservoir of countless fossils.

Archaeological surveys over the past few decades have been conducted at a number of sites including Rumeilah, a district of Al Ain.

Rumeilah yielded what is believed to be the first Iron Age settlement in the emirate where a series of mud brick buildings, some still with roofs intact, has been discovered.

The settlement, possibly occupied between 1000 and 300 BC, contained grinding stones, pottery, metal tools and some bronze weaponry.

Other archaeological sites are located in Qattarah (Al Ain), Mantiqa Al-Sirra (Abu Dhabi interior) and Ayn Al Fayda (Al Ain), to name a few. Plans are afoot to open at least one of these sites to the public in future.

Property in Brazil ushers in economic expansion for the country

Fri, 25 Jul 2008 00:00:00 GMT

Brazil’s economic expansion is picking up pace, as is apparent by Eletropaulo, Brazil’s largest power distributor and Unibanco, Brazil’s third largest private sector bank having both posted better than expected profit results in the last few weeks, seemingly setting the trend for Brazilian based companies.

The positive factors that are contributing to a buoyancy in the property market in Brazil are varied and range from the fact that the country has witnessed an increase in the profitability of certain major companies, a number of large international companies with bases in Brazil are expanding operations and inflation in Brazil is at a seven year low �" these are all factors which boost the economic prospects of the country and bode well for the real estate sector.

Brazil is benefiting set to benefit from the fact that investors are now taking into account exchange rates when deciding on their holiday or investment destination.

There has been a flurry of positive news coming from Brazil recently which has translated into good news for property for sale in Brazil; so much so that Brazil is being tipped by property experts as an emerging country poised on the verge of a property boom.

Industry analysts have recently revealed that investors and general holiday makers are becoming increasingly aware of exchange rate movements �" as they are tending toward watching financial fluctuations and taking them into account when deciding on which country to choose as a holiday or investment destination.

As the hordes of investors flock to Brazil, one can only further foresee more lucrative opportunities coming to full fruition, due in part to the Brazilian government taking a Pro-foreign stance and having taken measures to ensure the implementation of infrastructure to maintain the standards of service and facilities in which to cater for all tourist and investor needs, adequately.

Property in Brazil and the overall cost of living remains low and reasonable �" a positive aspect in Brazil’s favour �" as according to John Nicholas (Director, Travelex) the fact that travellers are generally more ‘savvy’ with regards to exchange rate movements, “this led to people travelling to places where they can get more for their money”.

Brazil is one of the top choices in this instance, as this Latin American country falls amongst the few emerging markets, as mentioned by Adrian McDermott (Managing Director, Escapes2), “Brazil and the other expanding markets of Egypt and Cape Verde are among the most active in the world at the moment”.

These factors are fuelling the speculation among experts researching for the UK based Property Investor and Homebuyer Show and according to some senior analysts in the property market, property for sale in Brazil could offer investors up to 20% capital appreciation over the coming medium term.

Brazil’s economic expansion and record low levels of inflation could well result in central bankers in Brazil cutting the benchmark lending rate right down to size �" this in turn could result in a flurry of local property market activity as the cost of borrowing is reduced to affordable levels for more Brazilian citizens.

As there is a severe lack of housing in Brazil, investors looking for development opportunities could consider construction projects for property in Brazil which opens up another form of property market investment in this rapidly developing market.

Other alternatives for international property investors are fuelled by the fact that the cost of living in Brazil is incredibly affordable and this is resulting in the country developing as an expatriate centre particularly for those looking for an affordable retirement haven.

The stunning weather that parts of Brazil enjoy all year round has attracted a growth in the numbers of international citizens seeking holiday homes to buy and rent which is another growth sector for property investors to consider targeting. Great news all round then for property for sale in Brazil it seems!

Property Select offers a comprehensive selection of overseas property in Brazil, news, members club and reviews of the latest property developments.

How has the government in Dubai assisted in ensuring the rise of the economy?

Fri, 25 Jul 2008 00:00:00 GMT

Dubai’s government has a very strong agenda. It is seeking to create a sustainable, affluent and attractive multi-dimensional destination and if any situation arises to undermine the long-term ambitions it holds for the emirate then it may well intervene.

Fortunately for Dubai the government is mature and while its overall, long term plans for Dubai are incredibly ambitious, they are possible to achieve which should give investors confidence in the emirate.

An example of how the government has previously intervened can be seen with regard to the rental rate increase caps applied to prevent rental rates spiraling out of control and beyond what residents of Dubai can reasonably afford.

Despite the fact that Dubai is quite new on the property-buying radar, many developments in Dubai are setting and maintaining a high standard of quality and service �" making this UAE country a top choice for investors, holiday makers and retirees the world over.

Tourism, as an industry, is quite the relatively new concept for Dubai. This novel industry is however fast becoming one of the main reasons why people are flocking to Dubai in droves.

So, why exactly are tourists and investors so keen on Dubai?
Well, aside from the obvious: the famous, sought-after beaches; diverse landscape; rich culture and idyllic climate �" Dubai is also, most importantly, reasonably affordable.

With an increase in tourism statistics of approximately 30 per cent in the last year alone, one can only assume that the Property Industry in Dubai is also well on its way to new heights and bigger profit margins.

With the emergence of a booming tourist industry, Dubai is taking shape and forming into an investors’ haven to be well reckoned with…

The government did this to protect its residents and citizens and also to protect the economy and rein in inflation. The decision was long considered, it was not a knee-jerk reaction and on the whole it has had a positive effect on the economy and the housing market.

Those who wish to realize immediate income should purchase well-located resale or completed apartment stock in the vicinity of the central business locations or townhouses and villas in attractive residential communities and/or within easy distance of international schools.

The cost of living in Dubai translates to a fraction of what U.K residents are accustomed to paying on a daily basis (estimates suggest that the cost of living in Brazil is a measly 20 per cent of the U.K costs), this coupled with the low, low property prices are solid reasons why Brazil has the pulling and staying power of late.

Picture unchartered territory at your doorstep; long lazy days basking in the warmth of the sun; days and nights spent bathing in the warm waters of idyllic beaches �" and you will find your mystery haven is situated no where else but in the delightful Dubai.

Investors need not fear the government in Dubai but they should make an effort to understand the government’s objectives, principles and vision.
We prefer not to give specific, direct advice to any investor because everyone has a different method of approach, attitude to risk and expectation of their property portfolio �" but if pushed we would have to generalise and say that anyone now looking to enter the property marketplace in Dubai would be best advised to consider committing to the long term for attractive rental yields and steady property price appreciation.

Property Select offers a comprehensive selection of overseas property in Dubai, news, members club and reviews of the latest property developments.

Investors revel in the consistency and popularity of property in Egypt

Fri, 25 Jul 2008 00:00:00 GMT

Property in ‘unusual locations’ have proved to be popular with international investors, according to TheMoveChannel.com, which has released its list of the top 10 most enquired about investment properties for the month of March.

Egypt took a top spot in this month’s chart beating out more popular markets like Canada and Cyprus. This is the third month in a row where the established markets of France, Spain and Italy have been overlooked by prospective investors.

According to a survey conducted by ‘Homes Worldwide’, they recommend the possible increase in overseas investing (especially in Egypt, Brazil, etc) is directly related to the current state of the housing market in the United Kingdom, where the mortgage rate remain on the rise, while the price of houses is steadily on the decline.

A large attraction remains the projected guarantee of large rental returns for property situated holiday destinations, the likes of Egypt, Brazil, and Italy �" to name but a few countries.

Due to the fact that many Britons have an ‘insatiable desire’ to own property in a sunny location, the recent global economic slump has done little to suede investors from looking abroad.

In contrast to this is the fact that many other countries are currently in a position to offer good capital growth against relatively low and reasonably priced property.

A further survey, done by ‘Multicom’ recently brought to light that many companies in the holiday sector have seen an increase in the number of bookings.

Chris Nourse (Multicom Manager) went on to say, “Consumers are not willing to give up their holidays abroad, even if they are faced with higher bills and general expenses. Holidays are being seen more and more as essential”.

It is of general consensus that many rental investments will continue receiving good rental returns, even amidst the global economic crisis.

Chris Nourse (Multicom Manager) went on to say, “Consumers are not willing to give up their holidays abroad, even if they are faced with higher bills and general expenses. Holidays are being seen more and more as essential”.

It is of general consensus that many rental investments will continue receiving good rental returns, even amidst the global economic crisis.

Property Select offers a comprehensive selection of overseas property in Egypt, news, members club and reviews of the latest property developments.

Dubai and its property market as it continues to soar

Fri, 25 Jul 2008 00:00:00 GMT

As is often said in respect of Dubai’s property market, there are two very distinctive sides to the real estate market that should be examined separately…

Affordability is the one aspect of concern to the entire real estate market in Dubai but at least in part this is being eased both by better finance products for buyers and by governmental rental rate increase caps for tenants.

While it is a fact that Dubai requires many more affordable housing units, it is highly unlikely that many/any developers are going to target the more affordable end of the market in the near term.

Dubai’s government has a very strong agenda. It is seeking to create a sustainable, affluent and attractive multi-dimensional destination and if any situation arises to undermine the long-term ambitions it holds for the emirate then it may well intervene.

Rightly or wrongly the government in Dubai as well as those responsible for the realisation of the vision of Dubai as one of the most glamorous, exotic and desirable nations in the world are aiming real estate developments at the world’s most affluent buyers and investors.

While demand remains intense in Dubai it will be a market of attraction �" its property price appreciation attraction has diminished since the early gold rush years…but looking to the longer term Dubai is in a position to support a mature, well rounded property market which will be of longer term interest to investors rather than shorter term interest for speculators.

Dubai is becoming an increasingly becoming a popular location for holiday homes, it has been claimed.

The emirate is traditionally perceived as an investment hotspot, with excellent rental returns achievable as a range of tourist and business developments continue on its Gulf coastline.

Shahid Iqbal, of Investors provident, says that people are increasingly looking to "actually have a holiday home … for themselves" when buying in the Middle Eastern destination.

"The majority of investors that are coming into Dubai at this moment in time are obviously new investors," he commented.

"A lot of people are buying to actually have a holiday home over there and use it for themselves as well as for others for investment."

He said that the climate was one of the main factors why people consider Dubai as a place to holiday and live in, rather than just as an investment location.

"They probably want to get away from the weather - to get away from the UK and get to a better climate. It's definitely increasing.

"They want to get away from the weather here and they always look at it like the grass is greener on the other side."

Demand for property in Dubai currently outweighs supply - and this imbalance should continue well into the next decade, it has been claimed.

"People who are saying that are not actively involved in the Dubai market, but just commenting on it from their ivory towers based on their experience in other markets. We all know Dubai is different. Dubai has His Highness Sheikh Mohammed," he added in an interview with AMEinfo.com.

Fortunately for Dubai the government is mature and while its overall, long term plans for Dubai are incredibly ambitious, they are possible to achieve which should give investors confidence in the emirate.

An example of how the government has previously intervened can be seen with regard to the rental rate increase caps applied to prevent rental rates spiraling out of control and beyond what residents of Dubai can reasonably afford.

The government did this to protect its residents and citizens and also to protect the economy and rein in inflation. The decision was long considered, it was not a knee-jerk reaction and on the whole it has had a positive effect on the economy and the housing market.

Investors need not fear the government in Dubai but they should make an effort to understand the government’s objectives, principles and vision.

Property in Brazil set to benefit from 6% capital growth and new developments

Thu, 24 Jul 2008 00:00:00 GMT

The Brazilian Reais is predicted to strengthen against both the Sterling and the US Dollar and therefore any increase in price is likely to be amplified by currency gains once buyers chose to exit the investment.

Scheduled price rises in property developments are often just a gimmick used by developers to motivate buyers to move quickly.

Investors still have a chance to secure BTL units at pre-construction prices in Joinville, Brazil.

Construction costs and levels of wealth are also rising rapidly; therefore it is normal practice to increase prices at regular intervals to reflect the market conditions.

According to a property expert, Dan Johnson, director of E-Quity, "For investors looking to make an immediate equity gain while linking their investment to a strengthening currency, July is a pretty good month to be looking at the Brazilian residential market.” He also went on to say that “The Reais looks likely to continue strengthening in the short term, while construction costs also look likely to go on rising for the next couple of months, albeit at a reduced rate.”

In the words of yet another property expert, "In the current global climate of price volatility, it's important for investors to maximize the effect that short term surges in price can have on their capital as global markets rebalance."

According to sources, Alagoas, one of Brazil's lesser-known States could become the country's next investment hotspot. Located in the Northeast region's second-smallest state, has an “impressive coastline relative to its size (230 km) which many say is the most beautiful in Brazil because of its coral reefs, myriad coconut palms, white sand, red cliffs and bright turquoise sea.”

It has long been a popular Brazilian tourist destination, yet the opening of the international airport just outside the capital, Maceio, in 2005, with the potential of welcoming direct flights from Europe next year, has brought it to the attention of international investors for the first time.

The President of ADIT Nordeste, Felipe Cavalcante, commented that “Alagoas is a potential high class tourist and real estate destination. The local government is focusing only on high-end real estate projects so the state receives the best developments in the country which add to its natural scenery. It is wonderful to see that the natural beauty of Alagoas will be enhanced by all these top quality real estate projects.
Such partnerships are serving to leverage the economy of the state and attract more attention from international investors."

All in all, one can clearly see that there is little wonder why many investors are referring to Brazil as the “promised land” �" opportunity is rife and lucrative �" what more would one need?

Property Select offers a comprehensive selection of overseas property in Brazil, news, members club and reviews of the latest property developments.

Dubai’s property industry fast becomes a 'global force', to be reckoned with?

Thu, 24 Jul 2008 00:00:00 GMT

The Dubai International Finance Centre (DIFC) has already welcomed just fewer than 200 financial companies and is already scanning a sizeable waiting list, with many companies of which are only hampered by the current lack of office space available.

In light of this, one can see that Dubai is making strong leads to becoming the world's financial powerhouse.

The fact that additional office space will be available early in 2009, the list of overseas financial companies either opening up satellite offices or deciding to relocate is expected to increase drastically.

As is pointed out by Oliver Hickey, UK Sales Director of Profile Europe (UK) Ltd, "The financial industry in Dubai was born out of a range of incentives that offered staff tax free salaries, foreign ownership and the freedom to repatriate capital freely to the UK.”

It should be mad clear however that aside from these and other incentives, this Middle Eastern Hub has evolved as a “dominant world force with up to 10,000 workers at the DIFC every day with estimates of up to 25,000 a day by the end of 2008.”

As is mentioned by another property expert, "This prosperous industry undoubtedly acts as bait for other key professionals but it is the knock on affect of so many high bracket salary earners now requiring appropriate lifestyle accommodation that has helped Dubai.

Property prices are soaring, demand for property is unprecedented and rental yields are at their highest. No longer, a white elephant in the sands, Dubai is here to stay and prosper it will."

Some property analysts will even go on to say: “There are two ways of purchasing property in Dubai; net or gross. With net properties, investors achieve the square footage as originally marketed and are not subject to any variation on living space. Investors buying ‘gross’ property, need to be aware that ultimately their square footage will be lower because communal areas (lift areas, corridors and walk ways) have been factored in.”

One needs to remember that “The overall square footage of these communal areas is then divided by the number of apartments within the building. So although your sales details may specify an apartment of say 1000sqft, in actual fact you are only looking to achieve living space of around 850sqft.”

One can rest assured that “Investors, who have done their market research and have compared numerous properties by the price per sqft before purchase, need to take particular care, as obviously such a variation on the overall square footage could have a considerable impact on their realised profit when they come to sell.”

Property Select offers a comprehensive selection of overseas property in Dubai, news, members club and reviews of the latest property developments.