Tuesday, June 30, 2009
Monday, June 29, 2009
Tuesday, June 23, 2009
Saturday, June 20, 2009
Tuesday, June 16, 2009
The Bulgaria Property Action Group (BPAG) is seeking to bring together as many people as possible that have experienced problems with off-plan property purchases in Bulgaria in an attempt to help resolve any issues which have arisen.
The group aims to provide help, support and information for those who need it. It is also an action group of people who want to see changes that will help them seek justice and recompense for any losses they may have incurred.
Pamela East, the project's administrator, says: "There are currently huge problems with the way that real estate transactions are conducted in Bulgaria. The group want to see legal and structural changes that will give protection and provide a legal framework in the Bulgarian property market. We also want to see a process which will enable them to seek redress for any losses and to prevent such problems happening again."
For further information on the group and how it can be contacted visit the full press release on the OverseasCafe.com website.
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Monday, June 8, 2009
The Mail on Sunday article, once again written by Michael O'Farrell (who seems to have become Mr. Lynn's tail in Europe) features Lynn directly. Apparently he's being accused of locking clients in his Cabanas development in Tavira on the Portuguese Algarve out of their swimming pool.
Friday, June 5, 2009
The strength of the euro relative to sterling presents a window of opportunity for the Irish investor looking to invest in UK distressed property. Most commentators agree that the euro is currently overvalued and is likely to weaken against sterling in the coming months following a combination of some positive economic news from the UK and the European Central Bank’s ponderous response to the financial crisis.
It is currently possible in the UK to buy bank repossessed property at discounts of up to 50% on the property's previous sale value. If an Irish investor had purchased a typical city centre apartment in Manchester, for example, at £180,000 in June 2007 when the exchange rate was 1.47 euros to the pound it would have cost him or her €264,600. A repossessed property in the same block in many cases would now typically cost £100,000, while the exchange rate is now 1.15. This means that the same apartment, if a repossession, would now cost an investor €115,000 - a staggering difference of €149,600!
This is an example of a property recently sourced for an investor in Yorkshire:
- Purchased for £74,000 in 2009
- Previously sold for £184,000 in 2007
- Discount of 60%
- Gross yield 8%
The seminar starts at 6.30pm, lasts for two hours and will cover the following topics:
- The outlook for the UK property market
- How to source distressed property
- Distressed property criteria (what to look for)
- The legal pitfalls of buying distressed property
- Arranging Finance
- The services on offer
If you can’t make the seminar but would like to meet up or discuss distressed property please email us at contact@OverseasCafe.com and we can have same arranged.
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Thursday, June 4, 2009
Wednesday, June 3, 2009
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