October 25, 2005
Double Good News on Spanish Property Prices
Good news for Spanish property buyers as the rate of increase for the properties reached to 13.4 percent, the slowest in the longest time, in the past 12 months – the beginning sign of an equity slowdown as the mark soared up to 25 percent in the Costa Calida region back in 2004 and averaged 18 percent in other home areas in the region.
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Posted on: Spain
Property in Spain “best ever” investment
It has been a downgrade for the increase of house prices in Spain as it slowed down to 13.4 percent in the past twelve months – the first obvious slowdown as equity growth rose to a record high of 25% in the region of Costa Calida in 2004 and an average of 18 percent in other second home coastal areas.
Average prices for properties in Spain for new and “used” homes between September 2004 and last month showed a meltdown has begun for the first time as the “boom” market in Spain suddenly took a downward twist, the government claimed.
According to the director general of the Spanish Ministry Housing, “political architecture” section Rafael Pacheco, the increase verified that the long-predicted slowdown had already begun and that the efforts of the government to pacify the housing market had generated the desired results. The fear that the Spain’s socialist government is that they will not be able to pay back all ten thousands euros to millions if the property bubble bursts. The general index of property increased by up to 13.2 percent in the past year while the cost of state or “protected” properties inched its way to 5.7 percent during the same year.
Posted on: Spain
October 6, 2005
Advice on living and working in Turkey: Religion & Politics
Turkish people are amongst the most hospitable in the world. From the moment you arrive in Turkey, expect to feel welcomed. And by the time you leave it is likely that you would have gained many local friends willing to be of help to you.
Because Turkey is a Muslim country, a common false notion about the country is that westerners are not welcomed by the locals. As a matter of fact, the constitution of the country covers the secular state and the non-Muslim minorities are legally protected. But religion does play a very essential part in society which is obvious when you arrive in the country. They are open to other cultures and beliefs and they extend the same hospitality to non-Muslims as they would to practising Muslims. However, religion is far less obvious in the popular tourist areas and the big cities than in the smaller towns and villages. Local people enjoy a drink after work, party at night and basically enjoy the same things as the Brits do.
Posted on: Turkey
Florida offers good value property
Nowadays, buyers’ interest is greatly turning towards Florida’s west coast, better known as the Gulf Coast. At the boundary of Gulf of Mexico, the coastline from Tampa south to Naples has become very popular. Property on the coast is appealing with its many golf courses, sightly fishing spots, lovely sandy beaches and pleasant nature. The Florida Association of Realtor’s said the average prices on the Gulf Coast range from $222,900 in the Tamp-St.Petersburg-Clearwater metropolitan area to $343,600 in the Sarasota-Brandeton region. Statewide, the average is $250,500.
Tampa is the third biggest city in Florida after Jacksonville and Miami. As it prepares to host the 2009 Superbowl, the city is undergoing major redevelopment and part of this is the construction of a number of apartment blocks and condominiums in the downtown area. Amidst nature preserves, parks, rivers, historic districts and flourishing new neighbourhoods, Tampa has been a popular winter destination for America’s rich and famous for a long time now. Moreover, Tampa has its own airport which offers direct flights from the UK with some airlines such as British Airways, United Airlines and Virgin Atlantic. One hundred fifty miles south from Tampa, Naples can be reached in only two and half hours by road. As expected, prices in Tampa City can be quite expensive and a lot of second home buyers usually look for a property outside of the city, particularly in St. Petersburg or Clearwater.
Posted on: Florida
October 5, 2005
Advice on living and working in Turkey: Work and Health
There is still a high rate of unemployment in Turkey, no special privileges for EU citizens and there is little opportunity for job seekers in spite of ongoing recovery from the 2001 economic decline. Getting a job offer and work permit before you arrive in Turkey is a rational approach to finding work there. This way you will not be distraught in job searching even if your funds vanish. Before arriving and arranging for a work visa, it is advisable to communicate with the Turkish embassy or consulate. You need a written employment offer from within Turkey, proof of your qualifications, passport photos and the necessary completed embassy forms and fees paid. Your work visa entitles you to a two year residence permit.
In Turkey, the usual available jobs for Brits include English teaching positions for those with a TEFL (teaching English as a foreign language) qualification and tourism related work. Jobs are regularly advertised in the Turkish Daily News, the only English language newspaper in Turkey.
Posted on: Turkey
October 4, 2005
SIPPs Blow Could Boost Sunbelt Homes Sales
The government has made a done deal with the investors vying to have their tax relief to put their buy to let properties and holiday homes in their pensions from April of next year when the investing rules seem to be lax.
The UK Treasury has made a complete run about, as reported by the FT, as generous tax breaks have been removed from the SIPPs self invested pensions.
Starting April 6 of next year, there are rules that the pension laws were to be relaxed allowing those people saving much for their retirement much greater freedom allowing what they could have over their pensions. With this new development, it might seem that changes in the rule would lead to an advantage in the self invested personal pension (SIPP), pensions with wide invested freedoms.
Posted on: Spain
October 2, 2005
SIPPs experts warn on risks and rewards
Norwich Union, an insurance giant, has raised its concern with the FSA on the marketing of the residential properties that is invested into a SIPP (self invested personal pensions) when the month of April rolls around as during this month, the law rules that this is possible.
The firm raised its concerns that the SIPPs might be telling people its added advantage, overemphasizing its benefits, but not its flaw. People from the SIPPs keep on saying that by purchasing personal property through a SIPP, customers can then effectively reduce the price of the property by as much as 40 percent because of the tax breaks. However, this is not entirely cleared. The adverts failed to disclose that there are possible substantial tax bill for investments in overseas properties or that the investor could not take hold of their property any longer.
Posted on: Spain
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