It is increasingly common for individuals to own more than one property and in many cases the first investment after the family residence is in a holiday home. Whether you are buying a place in the sun, a country retreat or a city centre apartment, if it is in a foreign country you will be exposed to an unfamiliar legal system and to taxes in the country concerned. It is therefore important, even before a contract is signed, to decide whether to make the purchase in your personal name or through a company. To change course later will always be expensive. It is however usually possible to reduce exposure to tax.

Buying in a personal name

Assuming the property is for personal occupation, the form of tax, which is most easily avoided, is estate or inheritance tax. The death of the person in whose name the property is registered will normally give rise to a liability which may exceed 40% of the value at the time and the tax will usually have to be paid before the property can be sold or transferred.

Buying in a corporate name

If, however, the property is purchased in the name of a company, the death of the owner does not create a need to transfer the property. The property will be owned by the company, and it is the shares in the company which will form part of the owner’s estate and not the property itself. If the company is formed in an offshore territory, the British Virgin Islands for example, which does not impose taxation on non-residents, the objective of avoiding foreign death taxes will have been achieved. There is a bonus, in that the name of the owner of the company need not be a matter of public record, thereby maintaining confidentiality.

Ownership through an offshore company will also ensure that, on death, the property will pass to the intended heirs. It will overcome the forced inheritance provisions found in the civil law and in Sharia law.

Purchasing through a company does increase the cost. The purchase may attract a higher rate of stamp duty, the company will need to be professionally managed and it may be required to file a tax return. These costs are however generally modest in relation to the potential tax saving.

Some words of caution

Some countries, whether in an attempt to prevent tax evasion by their residents, as part of increased international co-operation against tax avoidance or merely to raise revenue from non-voting foreigners, impose taxes on a notional income of companies incorporated in tax- free centres, but not against companies formed in taxing locations. Examples are France, Spain, Portugal, Greece and Argentina.

Others, such as the U.K. have hit on the wheeze of taxing their residents on a notional benefit, where the property is owned by a company rather than by the taxpayer personally, and no occupational rent is paid. Foreign investors in U.K. property are not discriminated against however. The answer, as always, is to take advice before acting.

The Chesterfield Group provides a full range of trustee, and corporate advisory, formation and management services and invites enquiries. More particulars can be found on our web-site http://www.chesterfield-management.comREF=CH4EZ

Residential Property Abroad

Condo hotels, also called condotels, are a relatively new concept in vacation home ownership. Rapidly gaining popularity, numerous condo hotels are now being built in Florida, Las Vegas, Chicago, Toronto, the Caribbean and many other locales around the U.S. and the world. To help illustrate the unique qualities of condo hotels, here’s a look at how they compare with traditional condos.

AMENITIES

Condos – The average condo has a community pool and some common areas.

Condo Hotels – A condo hotel has many of the amenities you would find at a four- or five-star hotel. In addition to a pool (or pools), there is probably an on-site restaurant (possibly several), a lounge, a full-service spa, a state-of-the-art exercise facility, poolside bar, etc. The amenities in a condo hotel are far greater than what you would typically find in a condo.

FURNISHINGS

Condos – Condos are usually sold unfurnished. You may decorate your unit as you like, and you pay for all furnishings.

Condo Hotels – A condo hotel unit is delivered to you completely furnished, typically with high-end furniture, appliances and fixtures selected by a professional interior designer. All units are decorated the same, more or less, much like hotel rooms. Condo hotel units are delivered user-ready upon receipt. The cost for furnishings is included in the price of the condo hotel unit.

SERVICES

Condos – You are responsible for your own housekeeping and unit upkeep. Services are usually limited to maintenance and possibly security.

Condo Hotels – You get daily housekeeping as you would in a luxury hotel. You have access to room service, concierge services, maintenance services and check-in services. The vast majority of condo hotels are operated by big-name hoteliers like Ritz Carlton and Hilton, the consummate professionals when it comes to customer service. Most of the same services available at their high-end hotels are offered at their condo hotels.

LOCATION

Condos – Condos can be found in almost every major market across the country. Some condo developments are in resort areas, while others are not.

Condo Hotels – At this time condo hotels are only available in a handful of locations, all of which are major vacation destinations or highly desirable cities, such as South Florida, Las Vegas and Chicago. Condo hotels are usually built on the most desirable pieces of land such as on a golf course, overlooking the ocean or in the heart of a major city.

PRICE

Condos – Prices for condos can start as low as $70,000.

Condo Hotels – Units start at $200,000, and most are substantially more. An oceanfront four- or five-star condo hotel unit can cost $500,000 to over $1,000,000.

RENTAL INCOME POTENTIAL

Condos – You have the option of renting out your unit when not using it. However, you are responsible for finding your own renters, preparing the unit for those renters, dealing with any maintenance issues that arise and collecting the rent. The condo association’s approval may be required on renter issues. You keep 100% of the rental revenue.

Condo Hotels – All details are handled for you. When you’re not using your condo hotel unit, you simply place it in the rental program. Renters would be found for you, and all aspects of the renters’ stay would be handled by the hotel management company. The entire process would be hassle-free for you.

You would receive a portion of the rent revenue, typically 40%-50%; the balance would go to the management company. Because the condo hotel most likely is a national or international hotel chain (such as Hilton or Ritz Carlton), it has a global sales force, multimillion dollar marketing campaigns, loyalty programs, a centralized reservation system and a strong Internet presence, all of which suggest that the property’s management would probably have better success at keeping your unit rented than you would as an individual condo owner.

APPRECIATION POTENTIAL

Condos – Whether your condo will appreciate or depreciate depends strongly on its location. Because there are so many condos on the market, the rules of supply and demand often help keep prices down. For the same reason, condos can be hard to resell.

Condo Hotels – Because condo hotels are a relatively new type of property investment, they are limited to just a handful of locales across the country. The supply is small and demand is currently high and growing, all of which contribute rapid and significant appreciation. Another factor to keep in mind when reselling a condo hotel unit is that you’re selling not only the actual unit but also the luxury lifestyle that comes with an amenity-filled, high-service property.

Many condo hotels are sold out in pre-construction. Often the developers, sensing the high demand, will themselves raise prices many times before all units are gone.

For example, The Mutiny condo hotel located in Coconut Grove, Florida was the first condo hotel to be built in South Florida. From the time the developer began accepting deposits until it sold out in pre-construction, there were nine price increases. People who bought early did exceptionally well.

Joel Greene is the President of Condo Hotel Center, a licensed real estate brokerage that specializes in the sale of condo hotels. For more information on condo hotels — including property listings, photos and prices — visit his website at http://www.CondoHotelCenter.com.

Be sure to sign up for the Property Alert e-newsletter at http://www.CondoHotelCenter.com to receive notification when new condo hotels come on the market and are available at pre-construction pricing.

Condos Vs. Condo Hotels For Vacaton Home Ownership

Properties for sale or to rent on the Costa Blanca

As a general rule of thumb, newly built properties on the Costa Blanca are generally cheaper than existing or re-sale properties – cheaper still if you buy ‘off plan’ (before the house has been started). Property prices have rocketed here over the last five – ten years and many fortunate people have found that their properties have grown in value enormously even before they had moved in! Even though the market is now leveling out, a property in Spain is still an extremely good investment. Visit http://www.villa-angels.com for the latest properties on offer all over the Costa Blanca from Mar Menor to Valencia.

If you prefer a more traditional Spanish style country house called a ‘finca’, or one of the quaint village houses, the first thing you need to do is check the wiring. Spain has the highest percentage of unsafe wiring in Europe with over 78% of all installations over ten years old in a near lethal state of repair. There are good electricians to be found – as well as some bad ones. Ask to see their qualifications and check to see if they have the appropriate testing equipment. You may have to pay a little extra, but better that than the alternative.

Not many houses are built to include a damp proof course and people often find that after the first winter – and we do have winters here – the paintwork starts peeling and bubbling along the bottom of internal walls. Check with the builder that it is included and if not ask that it be included as an extra. Older houses will not have one, so you may have problems that need to be rectified by a competent builder.

There is no such thing on the Costa Blanca as mains gas. You will need to set up a contract with the local Butane gas company to have it delivered to you. A lorry will then pass by your house once or twice a week to bring you full bottles and collect the empties to be re-filled. You will need to supply the company with a copy of your escritura (deeds) or rental contract plus a copy of your N.I.E. certificate.

Obviously, it should go without saying, when buying a property DO NOT SIGN ANYTHING BEFORE YOU FIRST CHECK IT WITH A LAWYER. So many people have been fleeced by sharks acting as ‘estate agents’ who have demanded a deposit on a property that either was never for sale in the first place or has so many debts outstanding on it to make it worthless. In Spain all credit is guaranteed against property so if the debt is not paid, a charge is put against the property not the owner. In other words, the owner can disappear with your money and leave all the debts waiting to be settled by the you as the new owner of the property. Ask to see a copy of the ‘nota simple’, this will tell you if there any large debts lodged against the property as well as the legal size of the dwelling if any illegal extensions have been made to it. It’s also a good idea to visit the local town hall (ayuntamiento) to ask if there are any taxes outstanding on the property.

Almost half of all business in Spain is conducted ‘under the table’ so don’t be surprised to find that the amount you are paying for a property is not the amount written in the escritura (title deeds). This is nothing to be concerned about as it is done to save you and the seller significant tax bills. Duty on property sales currently stands at 7% which can add a large chunk to your investment, so it makes sense to declare a smaller amount on all the legal paperwork. Everyone does it and the authorities turn a blind eye as they would rather have some money than none at all if the whole deal were done in cash.

In any case, you need to budget for 10% above the property price to cover you for taxes, legal fees and paperwork.

Happy hunting!

If you would like more information on this topic or any other related to the Costa Blanca visit http://www.costablancaworld.com

Karen Milacic is a graphic and web designer living as a British expat on the Costa Blanca for the past five years. Visit her other web sites at:http://www.villa-angels.com; http://www.thedesignbusiness.co.uk; http://www.costablanca-webhosting.com

Estate Agents on the Costa Blanca Spain

The Murcia region in Spain benefits from some of the most beautiful coastlines of Europe. Nowhere else will you find so many fascinating contrasts – with Spanish Mediterranean architecture, magnificent mountain ranges and beautiful long sandy beaches. Real estate in Murcia is buoyant with many people from northern Europe looking for bargain property deals in Spain. Some choose to rent a home in Spain long term while they decide if they want a house in La Manga or one of the many golf properties in Spain. We have property for sale in El Campello, Spain as well as apartment sales in La Manga del Mar Menor. There are dream villas for sale in Spain to suit all tastes and budgets, we can arrange mortgages for buying property in Spain with both leading Spanish banks and the more familiar English banks that are represented here.

If you are looking for properties for sale in Spain, look no further than Villa Angels – your friendly real estate agent in Spain.

Costa Blanca South / Costa Calida

The Southern region of the Costa Blanca, differs vastly from the North. Where the mountains meet the coast in the North, the South provides a far flatter landscape with immense Salt Lakes dotted around the coastline. Some of these Lakes are operational and full of wildlife including the famous pink flamingos, and others have now become protected Natural Parks.

The beaches between Alicante and La Mata include some of the best in the whole region, for example, La Marina and Guardamar. The majority of the land in this area is protected with a vast expanse of pine forests separating the beaches and prohibiting further development making the area quite unique. There is a constant demand for property in the La Marina and Guardamar area and it is virtually impossible to find front line property on the beach side, however, there are still affordable new developments and resales just a few minutes drive away.

Just a little further down the coast and you will find yourself in the bustling town of Torrevieja. This is a busy town all year round and is home to many expatriates and Spanish nationals alike. Such are the facilities in Torrevieja, with everything you need on a day to day basis right on your doorstep, that many Spaniards choose the town for their own holidays -they have also been known to call it a holiday town for foreign residents!

As with several coastal towns in the Costa Blanca, Torrevieja and the Orihuela Coast have areas where the properties are mainly owned by expatriates. Many people find comfort living amongst their fellow country men, whilst for others it is to be avoided. Due to the numbers of foreigners moving to this area, there are many international facilities available, international schools and multi-lingual hospitals and health care to name a few. Whether you want to live amongst a British / Non Spanish European community, or live as the nationals do but have the international services close by – the choice is yours as both aspects are available.

Go past the Orihuela Coast and you will find yourself approaching the Costa Calida / Mar Menor. This is home to Europe’s largest salt-water lagoon, with over 170 square kilometres of shallow water separated from the Mediterranean by a 13 mile peninsula known to most as La Manga. Along the coast of the Mar Menor you will find many small Spanish towns such as Los Alcazares and San Javier, where development of small residential areas are underway providing homes for both Spanish Nationals and foreigners.

One thing to note is that in all these areas there is an abundance of golf courses – you are never more than 15-20 minute drive away wherever you are! Also, thanks to the motorway links you are never far away from home, whether you land in Murcia or Alicante.

Karen Milacic is a graphic and web designer living as a British expat on the Costa Blanca for the past five years. Visit her other web sites at:http://www.costablancaworld.com; http://www.thedesignbusiness.co.uk; http://www.costablanca-webhosting.com

Alicante to Mar Menor – You can Still Find Cheap Property in Spain

The only way to buy a home in Spain is during an inspection visit. If you are serious about buying a property, and are in a position to purchase, this is the most effective way to ensure your find the ideal home, in the ideal area at the right price for you.

If you are unsure as to whether an inspection visit is appropriate for you at this time, the following questions and answers may help you decide.

1 What is an inspection visit?

An inspection visit is a 3-4 day trip designed for those who have made the decision to purchase a property, and are in a position to buy should the right property be available. During your visit with http://www.francisestates.com you will not only be shown a wide selection of locations and properties within your budget, but also the range of facilities that each of these locations has to offer. This will include the beaches, golf clubs, shops, supermarkets, restaurants and anything else that is important to you personally.

2 Will we have enough time?

Absolutely, in all honesty it is very similar to when you are purchasing a property at home, if you see something you like – you buy it! The only difference is that we do the searching and pre-selection for you. You will be shown a wide variety of properties and locations based on your own personal requirements – a bit like a shortlist.

3 What if we do see the right property for us?

Then we will be there for you to help arrange the entire process. We will introduce you to solicitors, mortgage advisors if required, open up a bank account with you, help with the best routes for converting your currency into Euros – quite simply we offer the full service to help you make the process as stress free as possible.

4 Can we come on an inspection visit with you if we are not in a position to buy yet?

Unfortunately we cannot offer personalised inspection visits to you if you are not in a position to buy. Bear in mind that there is nothing more frustrating for you when you see the ideal property and are unable to proceed any further! If you did want to explore the area however, we would be more than happy to advise you on areas to visit at your own leisure, and help arrange accommodation during your stay.

5 I am ready to book an inspection visit – what do I have to do next?

Just let us know and we will get in touch with you to arrange the visit.

Karen Milacic is a graphic and web designer living as a British expat on the Costa Blanca for the past five years. Visit her other web sites at:http://www.villa-angels.com; http://www.thedesignbusiness.co.uk; http://www.costablanca-webhosting.com

Spanish Estate Agents and Inspection Visits

Never has there been such an ambitious and creative drive to establish a property market as has been witnessed in Dubai over the past three years. Running short on oil reserves, Dubai’s crown prince, Sheikh Mohammed Al Marktoum, set out to turn Dubai into the financial, commercial and tourism capital of the Middle East and in the space of three years he has more than succeeded. The country’s GDP has expanded by 17 per cent over the past year and HSBC Bank estimates that there is $42.5 billion worth of projects under construction, compared with $20 billion for the rest of the neighboring oil states put together.

The result has been the rise of Dubai as the world’s most glamorous property investment market. Nothing in Dubai is understated. The tiny emirate, that only five years ago was nothing more than a simple fishing village has suddenly become the Manhattan of the Middle East. Following the mantra ‘bigger is better’ Dubai has proudly announced the world’s first seven star hotel, Burj Al Arab and is set to construct the world’s biggest shopping mall, the first underwater hotel and amazingly, the longest indoors ski slope.

Already the annual number of visitors stands at 5 million and is set to rise to 10 million by 2007. The scale of development has been unprecedented with apartment blocks being constructed by the dozen and selling out within days to hordes of zealous investors prepared to queue overnight to bag a bargain in Dubai. The projects being released are some of the most inventive and ambitious the world has seen, with man made islands such as The Palm and more recently The World capitalizing on the attractions of beach front living and redefining the world’s geography in the process.

With real estate as out of the ordinary as this, it’s not difficult to see why Dubai’s property market is attracting such large-scale international interest. There really is nothing like it and it seems everybody who’s anybody will have a piece of Dubai. Dubai’s more exclusive developments are being snapped up the celebrity classes and the world’s elite. Ageing English rocker, Rod Stewart is already the proud owner of Britain [The World's miniature Britain that is!] and villas along the Palm are being bought by sports stars, film stars and anybody with upwards of ?1.5 million to spend on a private waterfront retreat.

If so much has been achieved in three years, where is Dubai to go from here? Nakheel, the company behind the extraordinary Palm and The World projects already has its eye, literally, on a new development. Dream City, like the Palm is also a series of man made islands but out sizes the Palm significantly. When finished, Dream City will form the shape of an eye, with the residential element on giant eyelashes extending out into the Persian Gulf. Villas at Dream City start at ?425,000 for around 371 sq m (4,000 sq ft) of accommodation. Townhouses start at ?200,000, while one and two-bedroom apartments start at ?150,000.

For the property investor seeking a lucrative return, a new market is always a risky one and the fear is that the market may collapse soon after it has taken off!. With plenty of anecdotal evidence to suggest that property prices in Dubai are rising by as much as 60% in one year, it’s tempting to rush straight in and grab a piece of the action. But the canny investors will have to consider if it is too much too fast.

The pace of the property market in Dubai makes is a speculators dream. It’s not unheard of for properties to have been transferred up to a dozen times even before the building is complete. Many opportunistic investors are booking 10 to 20 villas in new developments, selling them at significant profits before they have been completed.

Cashing in on this and perhaps in an effort to cool the market, builders are charging a fee of up to 7% each time a property is transferred and lending institutions are trying to keep some control on the market by agreeing to finance only the original sale price. In the secondary market, prices can exceed the original price by 10-70%, depending on the development’s popularity.

All the indications are suggesting that the initial hype is easing and prices are settling. A year and a half ago 900 houses in one development sold out in 7 hours. Many believe that demand will continue to be sustained and prices will continue to rise, though not at the frantic rates they have been rising over the past two years.

In comparison to other new and emerging markets, such as those in Central and Eastern Europe, Dubai appears to be a more attractive investment. Prices in the middle market are comparative to those in Eastern European cities such as Tallinn and Krakow. Unlike these countries Dubai has the sunshine factor and a glamorous edge, which is surely contributing to the high immigration from Europe, the Gulf Region and the Indian subcontinent. Over 100,000 extra people are expected to arrive in Dubai every year. Such large-scale immigration is sure to sustain the property rental markets.

Other property markets are seeing rental yields drop through the floor. Too many investors buying up properties and not enough tenants to rent them! Ireland, Britain and many of the New European capital cities are seeing yields drop to below 3%. In Dubai, rental yields have dropped from a very healthy 8-9% but are now holding firm at 6-7%. The fact that in Dubai rents are paid in advance, sometimes up to one year in advance, is surely a motivating factor for those considering a buy-to-let property in Dubai. On the downside, service charges on new development can be high, anywhere up to

Alphabet Letters after a person’s name seem to bestow some kind of special prestige. PHD, MD, ESQ are common… but just look at what is available to real estate sales people…

ABR, ABRM, ALC, CCIM, CIPS, CPM, ARM, AMO, CRB, CRS, CRE, GAA, GRI, RCE, RAA, SIOR, AHWD ePRO, CAM, CBR, C-CREC, CLHMS, CREA, CRIA, QSC and SRES designations.

Can anyone, anywhere explain just exactly what those 26 acronyms mean and what the qualifications are to earn the use each of them? And if you can … WHY?

Some of those designations have extensive requirements, including several days or even a full week in a classroom setting, a written examination, a certain number of years in the business and evidence of having closed a required number of transactions in the specialty.

And then there’s the real estate equivalent of The Skull & Bones… the CRE designation. Only 1,000 people hold it,the qualifications are secret, and membership is by invitation only. Yipes… are they licensed to kill?

Oh yes, let’s not forget the QSC designation. That one requires a live or online course, a 40-question multiple choice quiz, a signed commitment to quality statementand participation in a perpetual customer surveyprogram that costs $50 for every 20 surveys.

RE/MAX International has a designation for RE/MAX sales agents. This one is the “internationally recognizedCNHS designation.” Translated that stands for”Certified New Home Specialist.”

Since its international you can sell homes in Transylvaniawhere you don’t have to disclose that the previous ownerwas a vampire?

The Women’s Council of Realtors awards the LTG designation. Please excuse me, but I can’t figure that one out since I have just been stricken with a severe case of dyslexia

What I really want is an agent who can find a buyer and properly fill out a purchase agreement. No alphabet required.

How about just finding and assigning propertieswithout cash, credit or much risk? Sounds good?

Learn how here: http://digbig.com/4cmxe

About The Author: Mark Walters is a third generation real estate investor. From his Web sites he shares his experince:http://www.cashflowinstitute.com & http://www.lease-option-sub2.com

The Real Estate Agent Alphabet

GOLF GRABS BULGARIA!

At the present time there are only three golf courses in the whole of Bulgaria: one at Elin Pelin, near the capital, Sofia, and two owned by Air Sofia. These are located at Ihtiman, opened in 2000, 40km from Sofia, and at Sliven, opened in 2004, 90km from the Black Sea.

Because of the increasingly rapid rise in foreign interest in Bulgaria recently, several more golf courses are proposed. One of these will be located at Razgrad, in the north-east, about 90km from the Black Sea. More are scheduled to open in the next few years: two at Kavarna and one at Primorsko, near Sozopol.

Mountain and ski areas will be represented by a golf course in the ski town of Bansko this year, and a very large golf complex between Kostenets and Borovets, the country’s foremost ski resort. This is scheduled for 2007, the year of Bulgaria’s entry into the European Union, and will be located at Dolna Banya, already near Bulgaria’s first golf course at Ihtiman.

Bulgaria Properties Ltd has purchased almost 6 acres of prime development land adjacent to the proposed golf course at Dolna Banya. The plans are to construct about 220 apartments around a comprehensive sports complex, with access to the golf course by a short footpath. The amenities on site are to include tennis, volleyball, squash, badminton, lawn bowls, boules (boccia), shooting, archery, croquet, mountain biking, and fishing nearby. Indoor facilities will include a 140-seat main restaurant and cabaret stage, a huge main bar (perhaps the largest in Bulgaria), a sports bar with projection TV, snooker, pool, table football, table tennis, a Chinese restaurant, Indian restaurant, fast food cafeteria, pizzeria, gymnasium, sauna, massage parlour, clinic, chemist, sports shop and minimarket.

Steve Avery, a Director of Bulgaria Properties Ltd, said, "It may sound like a clich

With new destinations such as Bulgaria, Slovenia and Croatia offering two and three bedroom apartments for sale for

You could be forgiven for thinking that property is the new dot.com. It seems that anybody with a few extra bucks to spare is trying to get in on the current boom. Pushed along by the many television programmes selling hot new property destinations, newspaper articles regularly highlighting the returns to be made in foreign property markets, and the abundant websites offering property all around the world, would be investors are rushing by the thousands into emerging markets accompanied only by the certainty of making a killer return.

Many of these are young people who, priced out of their home markets are eager to get a foot on the property ladder in cheaper markets abroad. Others are coming in off the back of property booms in their own country, particularly the British and Irish and increasingly, the Spanish.

But while investors may be dreaming of a property that will offer high rental yields and high capital growth at the same time, sourcing the right property markets in which to make that investment is vital to achieving solid returns. With so much attention being focused on emerging markets, it is difficult for the rookie investor to know exactly where the next revolution in property is going to be.

Bulgaria, for many, is the obvious choice. For the small time investor or holiday home buyer, Bulgaria offers an affordable entry point. Receiving massive attention from the media, it has become a hot bed of investor activity, particularly around the Black Sea Coast and the Ski resorts. With property prices far below the EU average and capital growth averaging 60-70% per year, it’s not surprising. Bulgaria’s growing reputation as a tourist destination is also in its favour and many speculate that the Bulgarian property market will mirror the trends that were seen in the Spanish property market, particularly after its entry to the EU.

Many predicted that the ‘Eastern Eight’ – the Czech Republic, Hungary, Poland, Estonia, Lithuania, Latvia, Slovenia and Slovakia, on entry to the EU would contribute to the biggest property boom Europe has experienced in at least the last 10 years. While investor interest in the new Europe countries is significant, particularly among the Irish, British and Germans, prices are not rising at alarming rates and to some extent over saturation of the market by investors has meant that rental yields are not as high as they might be. While the property market in some of these countries has taken off on the back of EU accession, others such as Slovakia are struggling to raise their profile when it comes international investors.

Investing in European emerging property markets brings the risk that comes with investing in any new territory. However, for those daring enough to take the risk, the returns are far higher than those achieved by investing in the more traditional markets such as France or Spain. Take Romania as an example. Moving into a markets such as Romania now would require a great deal of courage, particularly when the country is still battling organised crime and negative world opinion, but the chances are that ten years down the road, Romania’s small Black Sea coastline will take off in much the same way as Bulgaria’s has over the past five years. The rewards are always greater for those brave enough to go in early.

Dubai is another strong contender among investors interested in emerging markets. Dubai, for many, has the winning formula; sun, sand, glamour, spectacular developments, liberal tax regimes and reasonably priced property. Though Dubai’s property market is probably the most glamorous and sophisticated in the world, it is still possible to pick up a bargain property that is sure to yield high returns. A one bed roomed apartment just 20 minutes drive outside Dubai can still be bought for around