Articles
Residents of Cyprus will be evicted for debt. In exchange for a new tranche from international creditors Cypriot authorities are obliged to adopt the law according to which banks will be entitled to seize property from defaulters, quickly and without unnecessary formalities. Cypriots threatened with death to those deputies who will vote for it.
Property development in Bulgaria – adventure or a good deal? Purchase of an apartment on the groundwork stage has always been considered as risky business, but low prices impress even the most cautious. We asked experts from Bulgaria, how to be more attentive in order not to lose the money and property at once.
Real Estate News
Gold corruption. Senior officials were arrested in Portugal for bribes, which they received for issuance of the "golden visas." The accused turned a blind eye to the fact that property value of applicants for residence permit was smaller than the required €500,000.
Sales in France have fallen to level of 2008. The number of transactions on the primary residential real estate market has fallen to its lowest level in the last few years. Less than 20,000 properties were purchased across the country, during the quarter. The demand decline was caused by high prices and slow economic growth.
Fair taxes in Britain. According to progressive scale, launched in December 4, buyers of ordinary housing will pay less, and the ones who purchase elite – more. Compared with the previously effective rates will benefit those who buy property at the price below £937,500, and those are majority in England.
Property owners in Portugal got a discount of 85%. Portuguese authorities are ready to mitigate the tax regime. Owners of property which is in short-term lease will now be taxed not from the income, but only from its 15%.
Arabs purchased police of London. UAE investors purchased the headquarters building of Scotland Yard for £370 million – it’s even more than the mayor's office would like to earn. Cost saving forced London Police to actively sell its property, and its head office moved to a smaller building.
Cypriot authorities entangled in property taxes. Due to the transition on new evaluation system, many homeowners have received notifications with calculations errors. Island’s authorities are calm: an appeal can be submitted until April 25, 2015.
Switzerland is not closed. Confederation citizens who participated in the referendum voted against restricting immigration from EU countries. In addition, it was decided to keep the tax benefits for rich foreign investors, who own real estate in Switzerland, live there, but do not work.