International Property News and Articles from Propertyshowrooms.com

Brazil 'is a safe place to live'

Brazil has been described as a safe place to live by a Briton who is relocating to the country.

Damon Kestle is leaving his north London home with his pregnant wife Sarah within the next year.

Speaking to the Telegraph, he said the move has been partially driven by a desire to pursue a business enterprise overseas.

However, he also stated that he believes Brazil offers a better standard of living than the UK, as well as lower crime rates.

Mr Kestle commented: "I think Brazil is actually a better place to bring up a child.

"We are living in north London, which is full of knife crime."

He added that country offers a growing economy and is likely to become a more desirable place to live in during the next few years.

According to figures from NuBricks.com, Brazil is likely to experience economic growth of about 4.8 per cent this year.

French tourist accommodation in high demand

Tourist accommodation in France came under higher demand last year, new figures have revealed.

According to government data, nearly 82 million holidaymakers visited the country in 2007, reports Reuters.

This figure - which is four per cent up on the previous year - was dominated by the European market, as this accounted for almost half of all incoming visitors.

A seven per cent increase in the number of American visitors was also recorded throughout the same period.

This means that rental accommodation in France will have been in much greater demand from holidaymakers in 2007, thereby generating higher returns for property owners.

The release of the figures comes after ShelterOffshore.com tipped France to be a hotspot of activity for British property buyers next year.

According to the website, this is because the country is "on our doorstep", which means rising fuel prices are less likely to be an issue for travellers.

Dubai recommended to investors

Overseas property investors have been encouraged to consider possible opportunities in Dubai.

According to ShelterOffshore.com, the emirate has a number of lifestyle attractions such as year-round sunshine.

However, the website believes that it also offers various financial benefits, such as the potential to collect strong rental yields.

ShelterOffshore.com said that since it offers good weather for 12 months of the year, it is consistently popular with holidaymakers.

This means Dubai could be more lucrative to foreign property buyers than destinations with a more seasonal tourist trade.

The website commented: "There is tourism-based potential in the emirate which can equal property-based potential for those looking at a fly-to-let investment approach."

ShelterOffshore.com added that high demand is forcing rental rates to go up at a faster rate than house prices in Dubai.

This comes after Dubai Tourism and Commerce Marketing revealed that about seven million people booked accommodation in the region during 2007.

According to the organisation, this number could possibly increase to ten million in two years time.

Bulgaria 'offers strong fundamentals'

Bulgaria has a number of strong fundamentals which are supporting its housing market, according to industry analysts.

Amberlamb stated that factors such as its growing tourism industry are helping to make Bulgaria a good option for long-term investment.

The organisation said the eastern European country has become increasingly popular with leisure travellers because it is an affordable and easily accessible location.

Since it also offers natural beauty and a variety of attractions, it has also helped become an appealing destination for foreign property buyers.

Commenting on its investment potential, Amberlamb stated that visitor numbers went up by 11 per cent last year.

This means that demand for rental accommodation in the country will have gone up by a similar amount, thereby generating higher yields for buy-to-let investors.

Online travel agency Lastminute.com recently revealed that the number of June bookings holidays in Bulgaria is 151 per cent up on this time last year.

Investor speaks of Turkish purchases

A homebuyer from the UK has outlined her reasons for purchasing two properties in Turkey.

According to the Independent, Helen Love owns a holiday home and an investment property in the Dalyan region.

Speaking to the newspaper, she said she chose to purchase homes in Turkey because it is relatively cheap in comparison with other European countries.

Ms Love added that it is also a politically stable nation which is currently aiming to become a member of the European Union.

However, she also said that Turkey offers a number of lifestyle attractions, which make it a good place for her family to visit.

She commented: "It's great for holidays, there's a pristine beach and the local people are wonderful."

According to A Place in the Sun Live, British buyers will be required to spent about £300,000 on a typical apartment in London.

However, this "wallet-wincing" sum could be used to secure three much larger properties in prime Turkish locations, such as Bodrum and Dalaman.

Britons move abroad to escape economic crisis

Economic problems in the UK are contributing to a surge in the number of people moving abroad.

According to the Office for National Statistics, more than 200,000 British nationals chose to pack their bags and relocate in 2006 - a record amount under the current measuring system.

However, BuyAssociation has revealed that during the last year, it has seen a seven per cent increase in the number of enquiries into emigrating to another country.

Speaking to the Telegraph, property editor Paul Collins said this is partly because of the continuing economic difficulties in Britain.

Mr Collins said the ongoing financial problems have led to many people making "decisions about their future that they have been considering for some time".

He added that a growing number of people are choosing to settle in non-European destinations, such as Morocco.

The country was said to offer attractions such as new property developments and good governance.

This comes after FinancialAdvice.co.uk said more and more expats from the UK are moving to long-haul destinations.

Cape Verde 'worth considering now'

The archipelago of Cape Verde is becoming an increasingly attractive investment option, a market expert has claimed.

Cape Verde's government has worked hard to make the country more accessible for the international community, with enough success for it to be held up as a model for other emerging nations, according to ShelterOffshore.

Those thinking of buying property in Cape Verde may be encouraged to learn that there are currently plans to increase the number of airports and that property can cost as little as €1,200 (£950) per sq metre.

Rhiannon Davies, director of ShelterOffshore, said: "Now is a good time to consider investment if you like the thought of entering an emerging market and having access to the potential profits and returns it may offer."

Around half the population of Cape Verde lives on the island of Santiago, yet the biggest tourist island is Sal which currently boasts the only international airport.

Tough times make moving overseas 'appealing'

The appeal of moving overseas is greatly increased for Britons in times when the economy is struggling and the costs of living are high, a property expert has suggested.

High day-to-day expenses are encouraging UK residents to look at foreign properties in order to get the most out of their money, according to BuyAssociation.

While property purchase abroad has risen steadily in the last 20 years, the last five have seen a steeper increase in the number of Britons looking for low-cost property in Spain, France and even emerging markets.

Paul Collins, property editor at BuyAssociation, said: "When times get tough in the UK, if they were thinking about moving overseas it makes their mind up for them."

A recent study by Datamonitor concluded that 3.81 million Britons already own properties abroad and predicted that the expatriate market is likely to double in value by 2012.

New transport link to Sharm el Sheikh

Low-cost airline Jet2 has announced that it is to offer a new series of direct flights to Egypt from Leeds Bradford International Airport to the sunny resort of Sharm el Sheikh next year.

In what could be good news for those who own investment property in Egypt, the resort, with its warm climate, ample history and beautiful coral reefs, will now be even more accessible for British tourists.

The area will be of particular interest to sun-seekers as it maintains its hot weather throughout the year, meaning people buying holiday property in Sharm el Shiekh have the potential to rent it out for all 12 months of the year.

Mandy Round, general manager of Jet2holidays, said: "Sharm el Sheikh is proving to be an increasingly popular destination for UK holidaymakers who flock there for guaranteed year-round sunshine and the spectacular sites and scenery of Egypt."

Egypt's government has been working hard to attract more investors and was recently recognised by the World Bank for its efforts in reforming trade and financial regulations.

Prime City Investment in Maceio, Brazil

Apartments at Paradise Beach, in Brazil’s fast-growing Maceió city, are highly attractive to overseas buyers seeking both a tourist and a local market to fuel their investments. Northeastern Brazil has been an area targeted by The International Property Investment Network (IPIN) for some time, and the network is now proud to introduce its very first city based investment in Brazil.

Growing domestic and international demand from Maceió, a prime Brazilian city and holiday location, helps make Paradise Beach apartments a solid all-round investment.

Apart from being the capital city of the Alagoas region, Maceió is also one of Brazil’s fastest growing cities: with over one million inhabitants, it is now a favoured pleasure and business tourism destination. Mark Wilson, Product Acquisition Manager at IPIN explains the merits of investment there: ‘A fast growing middle-class economy is now emerging and plans are underway to expand the city’s perimeters towards the north. This means that Paradise Beach, now just 5km from the centre of Maceió, will become integrated with the city over time. Beachfront locations within the city are naturally in high demand, adding even more investment advantage to this development.’

Potential for lifestyle investment in Maceió is considered to be very strong and, as the city grows, these beach front apartments are set to attract a steady rental and resale demand from both local and international buyers. Mark Wilson adds, ‘Their position on one of the region’s most acclaimed urban beaches, overlooking the world’s second largest natural reef, of course adds to their great investment appeal.

With the domestic mortgage market set for massive growth over the coming years and strong indications of ongoing economic growth within Brazil, projects such as Paradise Beach offer an exceptional opportunity for today’s early investors.’

The two bedroom, two bathroom apartments start at only 182,710 BRL (approx. 72,500 EUR) and investors buying through IPIN will not only benefit from their privileged access to especially allocated units but also to a 10% discount for IPIN members, valid on all apartments until the end of August 2008.

All discerning property investors realize the importance of taking advantage of the most lucrative real estate opportunities as soon as they arise, before they become common knowledge. The International Property Investment Network (IPIN) operated by Propertyshowrooms.com helps all types of investors in their quest to access up-to-the minute information on the very latest investment opportunities in the worldwide property market today.

Serious investors 'target emerging markets'

The majority of Britons purchasing properties abroad are looking for somewhere they can use as a holiday home, yet increasing numbers of serious investors are turning to emerging markets to get the best return on their money.

Most British investors choose somewhere relatively close to home which can be reached via cheap flights, according to BuyAssociation.

This can be seen in figures published by Rightmove Overseas, which show that more of their customers search for property in Spain than any other country.

Other locations that made it into the top five were also nations with established markets for overseas investors - France, Italy, USA and Portugal.

Paul Collins, property editor at BuyAssociation, commented: "The emerging markets are popular with investors but they are not so popular with holiday home owners."

A recent NatWest report noted that as EU member states become more integrated, both politically and economically, there will be new opportunities for Britons to work and relocate abroad.

Spanish market 'will recover'

Those thinking of purchasing a property in Spain may be encouraged to learn that experts believe that the market will recover.

Despite a dip due to the credit crunch and an over abundance of Spanish properties and shortage of buyers, it is believed that the balance will return and prices will begin to rise again, according to the Telegraph.

Now may be an excellent time to invest in property in Spain as developers may be willing to sell for as much as 30 to 50 per cent below the asking price.

Brennon Nicholas, a local property industry professional, commented: "We believe the market will come back in the next two years … If we can get the credit crunch out of the way, there are a lot of positive things happening on the coast."

A UK-based private equity firm Benson Elliot Capital Management has recently bought 70 per cent of a Spanish development company in order to take advantage of the drop in the price of real estate in the country.

Brazilian investment prospects 'good'

Investors considering purchasing property in Brazil may be pleased to hear that experts believe prospects in the country are looking up.

With a better than expected growth in the country's economy and a long-term sovereign debt status upgrade from Standard & Poors, the Latin American nation is looking forward to increasing levels of investment from overseas, according to the Brazilian-American Chamber of Commerce.

Brazil's equity funds have already spotted the potential and for the past six consecutive weeks the country has seen consistent inflowing revenue.

Property in Brazil, the health sector and information technology are particular areas of interest for investors.

Julian Thompson, head of emerging market equities at Threadneedle, commented: "The demand for middle income residential property is strong and [it] remains relatively good value."

Joinville may be a focal point for investment in Brazil, as it is to see $800 million (£400 million) worth of public money pumped into infrastructure and the local economy over the next five years, reports Nubricks.com.

Turkey benefits from 'low prices and accessibility'

Those looking for an investment property in the sun may wish to consider houses or apartments in Turkey.

The country offers apartments in holiday resorts from as little as £19,000 and with plenty of budget flights available, purchasing a property in Turkey may be a wise investment, according to the Sunday Mail.

Turkey currently has extremely competitive property prices, particularly in relation to its Mediterranean rivals, such as holiday favourites Spain and Portugal.

Stuart Malloy, who recently bought an apartment in Didim, said: "I'd been looking to buy abroad for years but the cost of property in the Mediterranean and the Canaries really put me off.

In addition to the holiday essentials such as sun, sand and pools, Turkey has a wealth of alternative activities, including historical and cultural attractions.

With government plans to invest 200 million lira (£81 million) to increase tourist numbers two-fold in the next 15 years, purchasing rental property now could provide a healthy return.

Expert tips Brazilian city for investment success

People considering buying investment properties in Brazil should look at the city of Joinville, an overseas housing expert has advised.

The suggestion was made by Dan Johnson of The Move Channel, who explained that Joinville is set to benefit from a major publicly-funded investment programme.

Authorities in the city have set aside $800 million (£405 million) for infrastructure projects and improvements to health and education facilities over the next five years.

City leaders hope this will stimulate the economy and create employment opportunities, which Mr Johnson believes will create favourable conditions for property investors.

"In a domestic market that is growing rapidly as a whole, this city is already faring well and this investment programme will help Joinville to continue attracting residents and businesses," he told Nubricks.com.

Mr Johnson added that acting before the benefits of the public money start to be felt would help property investors to maximise returns.

His advice comes after Jonathan Garner, head of emerging markets for Morgan Stanley, told Reuters he was recommending land and property in Brazil to investors.

Cypriot tourism on 'upward course'

Owners of investment properties in Cyprus could find they enjoy better than expected rental income during the coming winter.

The Association of Cyprus Travel Agents (Acta), Cyprus Tourism Organisation and the Ministry of Tourism have been working together to attract more visitors to the island, reports the Cyprus Mail.

Akis Kelepeshis, president of Acta, told the trade group's annual general meeting that there were already signs that those efforts were paying off and that 2008 would be the start of a "firm upward course" for the Cypriot tourism industry.

He added: "The efforts made this year for increasing numbers in the winter season 2008-09 appear to be bearing fruit."

The news, which could mean that owners of rental property in Cyprus enjoy good levels of occupancy during usually quiet months, comes just days after an increase in the number of Britons booking holidays to the Mediterranean island was reported.

Travel website lastminute.com revealed that bookings for June breaks to Cyprus were up 32 per cent on the corresponding period in 2007.

Spain aims for year-round tourist industry

Owners of investment property in Spain could soon find they have a healthier rental income in the winter months, if plans announced by industry minister Miguel Sebastian work.

In a speech delivered on Thursday, Mr Sebastian outlined measures to combat the impact of the credit crunch and economic slowdown on Spain, reports Thomson Financial.

The two key strategies he detailed were moves to encourage more people to buy new cars and efforts to increase tourist numbers.

Tourism is already a vital sector of the Spanish economy, with thousands of visitors from across Europe heading to its beach resorts and the cultural centres of Madrid and Barcelona every year.

However, Mr Sebastian insisted there is room for improvement, adding: "We need to make tourism less seasonal."

His masterplan to do this involves running campaigns to persuade more retired people to holiday there in the winter - a move which could mean people with investment property in tourist resorts are able to claim rent during usually quiet periods.

Beatriz Corredor, the country's minister for housing, recently said now is the "right moment" to buy property in Spain because the current lack of demand from house purchasers means prices are low.

Turkish property prices 'could carry on rising'

People thinking of buying property in Turkey could be making a good investment choice, it has been suggested.

With the UK property market suffering a hangover from the credit crunch, some investors are looking overseas for opportunities to profit.

Ian Jones of fund manager Cordea Savills believes one place worth investigating is Turkey, where a number of factors are combining to drive prices up, despite the economy starting to slow.

"This is a country of some 70 million people with half of the population under 30 and with an average annual population growth of about one per cent," he told Reuters.

Property prices have grown rapidly in some parts of Turkey in recent times and one newspaper recently reported that homes in the area surrounding the resort of Bodrum are prohibitively expensive for locals.

However, the Turkish Daily News also pointed out that prices were still at a low enough level to attract interest from holiday home buyers and investors from overseas.

Expert confident about property in Brazil

Investing in Brazilian property could be one of the most successful ways of negotiating the current economic uncertainty, it has been suggested.

UK property, the stock market and even traditional safe havens like gold have suffered since the beginning of credit crunch and many investors are searching for more profitable alternatives.

Their best strategy could be to buy land and property in emerging economies, according to Jonathan Garner of Morgan Stanley.

He told Reuters he has been recommending to his clients that they consider investing in growing markets such as Brazil for a number of reasons.

"The credit crunch has very limited relevance to many emerging markets. Not only are the banks in good shape, you've also got households that are not overextended," Mr Garner explained.

Many overseas investors already appear to have spotted the potential offered by the South American country's economy, as figures published by the Central Bank showed that foreign direct investment grew from $18.8 billion in 2006 to $34.6 billion last year.

Morocco Sotheby's International Realty introduces the golf villas and apartments of Al Houara Resort

Morocco Sotheby’s International Realty, the brokerage company for Qatari Diar, the real estate investment and development leader, showcases the most exclusive luxury resort in Tangier, Morocco Al Houara Resort. After successful launch of the beach villas and apartments, Morocco Sotheby’s International Realty will be releasing 64 golf apartments at the beginning of June through their four offices in Doha-Qatar, Tangier-Morocco, Casablanca-Morocco and London-United Kingdom.

Sotheby’s International Realty, owned by Qatar Real Estate Partners, is a joint venture partnership between real estate investment and Development Company, Qatari Diar, and leisure real estate consultant NorthCourse and is affiliated to the Sotheby’s International Realty® network. This will offer its luxury real estate services for the first time in the GCC.

The Sotheby’s International Realty network currently has more than 9,000 sales associates located in more than 470 offices in the U.S. and 29 other countries and territories.

Peter Giamalva, Managing Director Qatar Sotheby’s International Realty, states that “Al Houara is a spectacular world-class resort targeted at an international affluent clientele blending Moroccan culture with European sophistication.” Designed by award-winning architects, the result is a community that offers handcrafted luxury and an unrivalled investment opportunity.

The Al Houara Resort, conveniently located within 15 minutes drive from the new Tangiers international airport, offers a selection of truly luxurious accommodation from two 5 Star Hotels to magnificent Beach and Golf Villa’s and Apartments. The resort offers world-class amenities and facilities such as the 18-hole Signature Golf Course, designed by golf master Graham Marsh, to the supreme Moroccan spa, restaurants, Kasbah shopping experience and equestrian centre.

“Combining high quality and value is more important than ever when considering any property acquisition in the current climate, and the Al Houra resort achieves this without exception” said Peter Mindenhall, Business and Media Manager at Propertyshowrooms.com

About Qatari Diar Real Estate Investment & Development Company

Wholly owned by the Qatar Investment Authority, Qatari Diar Real Estate Investment & Development Company capitalized at US$1 billion was established in December 2004 to support Qatar's growing economy and to co-ordinate the country's real estate development priorities. Qatari Diar creates distinguished property developments with local culture and lifestyle experience to attract tourism and residents generating sustainable and tangible socio-economic benefits. Qatari Diars' vision is to become the most trusted and effective real estate Investment Company by focusing its value proposition on the creation of quality, well-planned and desirable sustained developments. Qatari Diar also provides local and foreign property developers with further opportunities to invest in numerous projects across the globe, including but not limited to Qatar, Morocco, Egypt and Europe.
Alhouararesort.com or Qataridiar.com

About Sotheby’s International Realty Affiliates LLC

Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, the world’s largest real estate franchisor, entered into a long-term strategic alliance with Sotheby’s Holdings, Inc. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit Sothebysrealty.com.

Spain set to attract British holidaymakers

Rental investors in Spain could benefit from high demand from British holidaymakers this summer.

According to figures from ebookers.com, nearly two-thirds of holidaymakers from the UK are planning a beach holiday this year.

The online travel agency has found that established European markets including Spain are among the most popular destinations for tourists.

This is despite the weakness of the pound against the euro, as well as strong competition from long-haul destinations such as the USA and Thailand.

However, the company has found that many tourists are booking their holidays fairly late.

As a result, head of marketing Claire Howard Jones has issued the following warning.

"Bargain hunters will often be disappointed," she said.

"Smart travellers know the best prices in the travel industry are mostly available to early bookers."

Meanwhile, Frances Tuke of the Association of British Travel Agents has highlighted Spain as a highly affordable place to visit.

Speaking to the Western Mail, she said it offers much cheaper prices than other countries in the eurozone.

Cape Verde 'is a property hotspot'

Cape Verde is becoming more and more popular with second home buyers from overseas, analysts have stated.

According to property experts NuBricks.com, the west African nation has become an "overseas property hotspot" in recent years.

The website said this is partially due to efforts to boost tourism in the country, as this has created a variety of investment opportunities in different areas.

However, it said Cape Verde's regulatory system has also helped make it attractive to foreign buyers.

Chintan Mahida, a spokesperson for NuBricks.com, observed: "In simple terms, the laws of Cape Verde do not differentiate between foreign investors and local businesses, offering a level of security and rights."

He added that this level of protection is missing in many other developing nations across the world.

According to the Organisation of Economic Cooperation and Development, Cape Verde's economy grew by 6.6 per cent last year.

Figures cited by MacauHub show that it is expecting this rate of growth to increase to 7.6 per cent in 2008.

France set to attract British second home buyers

France has been tipped to be a hotspot of activity for British property buyers next year by industry analysts.

ShelterOffshore.com believes many budget airlines will be forced to hike up the cost of flying overseas next year in response to rising fuel prices.

This means that consumers may find travelling to other countries very expensive, a development which could reduce the appeal of these places to second home buyers.

However, the website added that financial problems such as the global credit crisis are not putting people investing in a foreign property.

Therefore, it believes France could be a highly popular destination in 2009, as it can be easily reached by other modes of transport.

ShelterOffshore.com said: "France is on our doorstep and it is a country we can fly to, drive to or even take a train to."

This comes after Virgin Trains revealed that "more and more" people are choosing to use the railway as a means of getting to destinations they might previously have gone to by car or plane.

Dubai unaffected by credit crunch

Overseas property investors could collect strong returns in Dubai, an expert has advised.

According to Ahmed Jamal of Emerging Markets Property Advisors, the emirate is one of the best investment markets in the world.

This was said to be because it has a very strong rental market, which means investors can enjoy high occupancy rates and healthy rental yields.

Mr Jamal added that many other popular property hotspots have been negatively affected by the credit crunch.

However, he stated that the problems in the worldwide economy have not extended as far as Dubai.

"People are talking about a global property crisis but the terminology is incorrect," he commented.

"There is a crisis in the US and parts of Europe but other places are doing well."

This comes after Dubai Tourism and Commerce Marketing revealed that about seven million people booked accommodation in the region during 2007.

According to the organisation, this number could possibly increase to ten million in two years time.

British tourists flock to Bulgaria

Rental investors in Bulgaria are seeing a surge in demand for tourist accommodation this summer, it has emerged.

Online travel agency Lastminute.com revealed that the number of June bookings for the country is 151 per cent up on 12 months earlier.

This means that some owners of holiday accommodation in Bulgaria will see higher occupancy rates this year, as well as greater rental returns.

According to Lastminute.com, the increase in the number of bookings is partly because consumers in the UK want to avoid Euro 2008, which kicks off in Austria and Switzerland this weekend.

John Bevan, managing director of the firm, commented: "It would appear that it is too painful for fans to stay home and watch Euro 2008 without their team competing."

This comes after the Times said that Bulgaria is a much more affordable holiday destination than places such as Italy, Portugal, France and Spain.

Traditional European markets attract Britons

New research has found that traditional tourist destinations in Europe are still the most popular options among Britons.

Norwich Union has used its customer information to compile a profile of what it describes as the average British couple.

A typical husband and wife in the UK were said to be called Mr and Mrs Smith, own a Ford Fiesta and live in a 60-year-old house.

In addition, the profile showed that the average British couple takes their summer holiday in Spain every year.

Simon Warsop, spokesperson for Norwich Union, commented: "Contrary to popular belief, it reveals that we are a lot more traditional than we think we are."

Spain is also a hotspot for second home buyers from the UK who want a property in another country.

According to A Place in the Sun, it is currently the most popular destination among property investors from the UK.

Europeans head to Cape Verde

Former Portuguese prime minister Mario Soares has highlighted the growing appeal of Cape Verde among holidaymakers.

According to the ex-premier, the west African archipelago is becoming more and more popular with people from Europe.

Speaking to Inter Press Service, he said this is because it offers attractions such as hot and sunny weather all year round, along with a rich culture.

This, he stated, has helped Cape Verde to become an "enchanting" destination for people from all over Europe.

Mr Soares commented: "The archipelago is turning into a prime tourist destination."

He added that as well as its appealing climate, people can also enjoy high-quality accommodation and a friendly local population.

According to the Organisation of Economic Cooperation and Development, Cape Verde's economy grew by 6.6 per cent last year.

Figures cited by MacauHub show that it is expecting this rate of growth to increase to 7.6 per cent in 2008.

Expat speaks of move to Thailand

A British expatriate has revealed his reasons for moving to Thailand and the impact this has had on his life.

Jay Walker moved from Essex to Phuket in 2007 after a friend encouraged him to get a job in the region.

Speaking to the Sun, he stated that despite spending most of his working life overseas, moving to south-east Asia was still a "huge culture shock".

He said this is because his experiences had been confined to western locations such as Europe.

Mr Walker added that he was surprised to see how modern Thailand is in terms of its amenities and facilities.

He commented: "Stupidly I thought it was less developed and less advanced with regards to infrastructure."

This comes after the Telegraph said Phuket is becoming increasingly popular with foreign property investors who are looking at the top-end of the market.

This area was immortalised in 1974's The Man With the Golden Gun, which starred Roger Moore in the lead role.

Expert Tax Advice From International Fiscal Services Ltd

Financial expert Binne Vries from International Fiscal Services Ltd gives his personal opinion on the latest tax schemes:

Tax Tip

United Kingdom - real estate developments

The Chancellor of the Exchequer Alistair Darling recently announced a u-turn on the 10p tax rate, and since then we’ve been following with interest what other rabbits may appear from his hat. Meanwhile, the so-called “IOM partnership scheme” has been closed down by the Budget 2008 (see BN66 “Double Taxation Treaty Abuse” for specific details) with retroactive effect to 1987. UK tax is avoided by the establishment of two interest in possession trusts which together form an Isle of Man partnership. The scheme is designed so as to ensure that the income realised by the partnership continues to belong to the UK resident, as beneficiary of the foreign trust.

This structure was commonly used for undertaking UK real estate development projects. We have always been quite blunt when clients have asked us about this structure; it doesn’t work! A scheme devised so that a UK resident individual who has UK property development activities is able to make a profit subject to no tax and bring it all back into the UK for his enjoyment will never find favour with HMRC – unsurprisingly. If you have been affected by these anti-avoidance measures and would like a reality check of what can still be done to minimise tax on property developments please contact us.

United Kingdom

Multinationals flee the UK

Last year the Government issued a discussion document on the taxation of companies’ foreign profits with the stated aim of modernizing and creating a more straightforward regime for taxing foreign profits. The main components of the proposals include:

The introduction of a Dutch-style tax exemption method for foreign dividends on shareholdings of 10% or more, but only where the new Controlled Company Rules apply to the dividend payer.
The implementation of a new income-based system for controlled companies which distinguishes mobile passive income from active income and enables the UK to tax artificially located profits that are effectively within the control of the UK parent.
A restriction on interest relief for international groups and the extension of the existing unallowable purpose rules applicable to loan relationships and derivative contracts.
The abolition of the Treasury consent rules.

Although the proposals were initially applauded by multinationals, particularly as a means to repatriate their foreign profits tax free, companies have become increasingly concerned about the ‘small-print’ in the form of anti-avoidance measures. It now seems that the UK’s competitiveness compared with other European countries has been severely damaged. Furthermore, the new Controlled Companies Rules seem to narrow significantly the scope of the ECJ decision in the Cadbury Schweppes case which limited the UK CFC legislation to ‘wholly artificial arrangements’.

A few weeks ago, Shire, the pharmaceutical group, relocated from the UK to Ireland, the aim being to “help protect the group’s taxation position” and it is believed that the main reason behind this decision is uncertainty over the proposed changes to the UK corporate tax system. Not only will Shire be able to benefit from Ireland’s 12.5% tax rate (compared with the UK’s 28% rate), but Ireland does not have the extensive anti-avoidance legislation that the UK has, for instance no thin cap or transfer pricing rules.

It has also recently been announced that the UK publishing and events firm, United Business Media, also aims to relocate to Ireland by the end of the summer. The reason given by them is: to “manage the interaction between the UK tax system and the tax systems of the multiple countries (in which it operates)”. These cases follow other relocations out of the UK in recent years by companies including Ebay, Kraft, Omega and Google. The Treasury is due to produce another consultation document on the issue soon – whether it will be soon enough is another matter.

EU / Netherlands

ECJ Opinion on real estate IHT transfer tax

The Dutch Supreme Court asked for a preliminary ruling from the ECJ in respect of case Arens-Sikken v. Staatssecretaris van Financien (C-43/07). AG Mazak gave his opinion regarding the rules on Dutch inheritance tax, affecting residents and non-residents.

In the Netherlands residents and non-residents are taxed differently on inheritances received. A resident testator’s assets are subject to inheritance tax. For non-residents, inheritance tax is levied only on certain Dutch source assets such as immovable property. For residents, when calculating the Dutch IHT due on immovable property, any debts relating to the property are subtracted from the value of the property, before levying IHT. In addition if the inheritor has other debts to settle out of the funds of the property (over-endowment debts) as instructed by the testator, these will also be subtracted from the value of the property.

However, non-residents are not entitled to subtract over-endowment debts from the value of the property when calculating the amount chargeable to IHT. The facts of the case before the AG involved an Italian resident testator who owned a Dutch property. In his testament the property was left to his wife on the condition that she later paid each of the children the cash equivalent of their share of the estate, i.e. her over-endowment debts. The Dutch authorities would not allow the wife to deduct these debts from the value of the property when calculating the Dutch IHT liability. The AG made the following comments:

Cross border inheritance is a ‘movement of capital’ within the meaning of Art 56 of the EC Treaty.
The case was not purely domestic as the immovable property situated in the Netherlands was inherited from a person who was a resident on another Member State.
Immovable property situated in the Netherlands and inherited from a non-resident person is treated less favourably than a resident person.
The AG opined that the Dutch legislation constitutes a restriction on the free movement of capital.

Luxembourg

Tax efficient investment vehicle: improvement to the SICAR

The Luxembourg SICAR is a regulated investment vehicle used for investments in risk capital. It is a private equity and venture capital vehicle that can take a number of different forms. Most notable is the corporate form which, as a general rule, is subject to Luxembourg corporate and municipal tax and (in the view of the Luxembourg authorities) in principle can rely on EU Directives and benefit from Luxembourg’s tax treaty network. Some EU member states (France, The Netherlands) have disputed that the SICAR can benefit from double tax treaties.

Luxembourg, in a bid to improve the legislative framework of its financial sector, has proposed new measures regarding the SICAR. The proposals may be summarised as follows:

Creating sub-funds or multiple compartments within a SICAR, i.e. an umbrella fund.
Ability to segregate assets and liabilities.
Securities may have different par value within each sub-fund.
Investor liabilities will be limited to each sub-fund.
Each sub-fund can be liquidated separately.

These changes coupled with other administrative modifications make the SICAR regime more flexible and make Luxembourg an even more favourable jurisdiction for establishing such funds. As a re-cap, the tax advantages of the SICAR are as follows.

Normal Luxembourg 1% capital duty is capped at €1,250.
Income resulting from the sale of securities and from the sale, contribution or liquidation of these
assets does not constitute taxable income.
There is no withholding tax on dividends or liquidation proceeds distributed by a SICAR to its shareholders.
The return on short-term cash deposits held pending their investment into qualifying targets does not constitute taxable income within a maximum period of 12 months preceding their investment in risk capital.

Australia

Dividend income and capital gains from Dutch Co-operatives

The ATO recently issued a private binding ruling on the treatment of Dutch co-ops for Australian corporate tax purposes. It decided that dividends paid by a Dutch co-op and any capital gains arising on a disposal of a co-op, can be exempted under Australia’s participation exemption provided the usual conditions are satisfied. This ruling is not binding on other taxpayers, but provides a good indication of Australia’s views on this issue. Since there is no Dutch withholding tax on dividends paid by the Dutch co-op and the co-op itself is entitled to the Dutch participation exemption and the EC Parent-Subsidiary Directive on profits distributed to it (provided the conditions of each are satisfied), the use of a Dutch co-op as a top intermediate holding company between an Australian parent and its European subsidiaries can allow for a tax-efficient repatriation of EU group earnings to Australia.

Dutch co-ops are being widely used to extract dividends from the Netherlands, and by extension from the EU, without withholding tax. The big question is whether the Dutch authorities will limit such use of the co-op in the future. Co-ops were hardly introduced to facilitate tax efficient repatriation of profits within a multinational context - they were, as the name would suggest, intended for use by farming collectives, but what the heck! We would usually advise that a Dutch tax ruling is obtained, confirming the benefits from an international tax structuring point of view, when using a co-op. However, it is our understanding that the Dutch authorities are no longer issuing such rulings pending an internal review of the situation.

OECD

Distributions by Real Estate Investment Trusts: Draft 2008 Update to the Model Tax Convention

Many countries provide beneficial tax regimes for Real Estate Investment Trusts ("REIT's") to increase liquidity and access for small investors to the property market. The tax benefits vary per country but in general they include reduced rates compared to the normal corporate income tax burden, or even provide for an overall exemption of income generated by the REIT. Thus, the basic concept of a REIT is to exempt income at the entity level but for investors to be taxed on distributions, either via the domestic withholding tax on dividends or through (income) tax at the level of the shareholder. Since the main purpose of REIT regimes is to enable local small investors to participate in the property market, the conditions to be satisfied under the REIT regimes usually make it unattractive for foreign investors. However, the elements that make it unattractive for foreign corporate investors under domestic law could, in principle, be blunted by EU Directives and double tax treaties.

Naturally, some countries hold the view that the relevant EU Directives and tax treaties do not apply and as a result subject distributions to foreign (corporate) investors to full domestic withholding tax. Where tax treaties do apply, a REIT may benefit from reduced withholding tax rates (sometimes 0%) on dividend distributions to shareholders.

Since the tax treatment of REITs differs from one country to another the OECD has proposed new provisions in the Model Tax Convention to allow countries to levy higher withholding tax rates on distributions made by REITs. This is an important first step in the harmonisation of the tax treatment of REITs, since if the proposals are accepted by the members of the OECD, then over time these changes may filter through in the bi-lateral tax treaties concluded between individual states.

The good news is that the taxation of REITs and distributions thereof would be clarified, thus avoiding confusion and uncertainty. However, the downside is that it is very likely that distributions by REITs under the proposed changes would result in higher rates of withholding tax. No doubt it will take a long time before such changes will be implemented, and in the meantime there may still be some advantages to be obtained under existing tax treaties for cross border REIT structures.

Strong euro drives Britons to Morocco

British holidaymakers look set to shun traditional European destinations and head to Africa instead, analysts have predicted.

According to the Association of Independent Tour Operators (AITO), countries such as Morocco are likely to attract a greater number of people from the UK this year.

This is because the single European currency has risen to a record high against the British pound and is likely to remain strong during the next few months.

Therefore, prices in countries such as Spain and Portugal are comparatively expensive to Britons, whereas Morocco has more favourable exchange rates and lower prices.

AITO chairman Derek Moore commented: "There will be an increasing number opting for countries on the edge of the eurozone like Morocco."

He added that this is a good location because it is not far from Europe, which means travel times are not significantly different.

This comes after NuBricks.com said the tourism sector in Morocco is "on the up" and has witnessed some "impressive growth" in recent years.

Cyprus property 'is a great investment'

Two holiday home buyers from Scotland have outlined the advantages of owning a property in Cyprus.

According to Ian and Cathy Rutherford, purchasing a house on the Mediterranean island has proved to be a "great investment".

Speaking to the Sunday Mail, they said this is because they have been able to rent it out during those times that it would otherwise be empty.

Furthermore, they stated that continuing increases in house prices in Cyprus means that the value of their new home is going up. .

Mrs Rutherford commented: "A similar apartment sold recently for about £20,000 more than we bought ours for, so it's a great investment too."

She added that as soon as they retire, they plan to spend far more time living in their Cypriot property.

This comes after the Independent said that Cyprus does not seem to have been negatively affected by the worldwide financial crisis.

According to the newspaper, this development represents a "convincing case" for the island's investment credentials.

British tourists pointed towards Bulgaria

British holidaymakers have been advised to consider travelling to Bulgaria by a national newspaper.

According to the Times, the eastern European country offers a number of attractions which would appeal to the whole family.

In addition, Bulgaria was said to be much more affordable than places such as Italy, Portugal, France and Spain.

This is because the pound has slumped to a record low against the single European currency - falling by nearly a fifth in the last year.

As a result, travelling to a country inside the eurozone may not offer the value for money Britons have enjoyed in the past.

The Times commented: "It's been a bad year for the pound.

"Last summer, a €20 meal would have set you back £14. Now it would be £16.50."

By contrast, Bulgaria was said to offer bargain prices and comparable leisure facilities.

This comes after the Association of British Travel Agents revealed that emerging economies and mid to long-haul destinations are becoming more and more popular with tourists from the UK.

Tourism boosts Moroccan property market

Efforts to boost tourism in Morocco are directly impacting on its housing market, property experts have stated.

According to Amberlamb, the Moroccan government is aiming to attract ten million visitors a year by 2010.

As part of this plan, it has invested in the creation of new resorts in desirable locations, which include leisure outlets, amenities and accommodation.

The organisation said that this has helped to raise the international profile of Morocco, which in turn has led to interest from foreign property buyers.

Therefore, the country is receiving an economic boost from both the tourist trade, overseas investment and a growing housing market.

Amberlamb commented: "It is ensuring that interest is intense and it is already returning positives for real estate as a contributing sector to the overall economy."

This comes after NuBricks.com said the tourism sector in Morocco is "on the up" and has witnessed some "impressive growth" in recent years.

The online portal described a property purchase in the country as a "sound addition" to any investment portfolio.

Inland Spain attracts investors

Overseas property buyers are increasingly shunning the Spanish coastline and moving inland, it has been revealed.

The Spanish Property Owners Guild (Spog) stated that many coastal areas have become overdeveloped by mass tourism.

However, it believes that foreign property buyers can still find an unspoiled environment if they move away from the sea.

Paul Bradley, spokesperson for Spog, suggested that prospective investors look towards places such as La Vinuela, which is just 20 miles away from Malaga.

This means that property buyers could live in a more peaceful and natural environment while still having easy access to the Costa del Sol.

Mr Bradley commented: "Real Spain still exists - ten miles inland and it is still how it has always been."

A recent survey of foreign property owners by A Place in the Sun magazine found that Spain was still the most popular destination among Britons.

Turkish resorts offer investment potential

Overseas property buyers have been encouraged to consider potential investment opportunities in Turkey.

According to Dominic Whiting, editor of Buying in Turkey, new flights to the popular holiday resort of Dalaman have recently been launched by easyJet.

This means that the region is likely to see a surge in visitor numbers over the next few months, which in turn will push up demand for rental accommodation.

As a result, owners of property in Dalaman could be well-placed to earn a profit from the rental yields.

Speaking to Homes Worldwide, Mr Whiting said: "The start of low-cost flights into the Turkish resort will be a huge boost to the fledgling holiday lettings market."

He added that choosing the right location for a property is very important, particularly if they plan to let it out to holidaymakers.

This comes after John Bevan, managing director of Lastminute.com, told the Daily Mail that Turkey has displaced countries such as Spain and France in terms of the number of online searches and bookings it has received.

Spain 'offers escape from the UK'

British people who are unhappy with life in the UK could find Spain a good alternative, it has been suggested.

The Spanish Property Owners Guild (Spog) said some people in Britain believe that the country has gone "to the dogs" in recent years.

As a result, many have chosen to pack their bags and set up home in other countries.

Paul Bradley, spokesperson for Spog, said Spain could be the perfect place for people who share this point of view, as it offers a number of lifestyle benefits.

He stated that the low crime rates and relative safety could make it particularly attractive to older people, as it may remind them of Britain in the past.

Mr Bradley commented: "Spain is the quintessential example of how life used to be in the UK, but with nice weather."

This comes after HiFX cited the strong pound, rising house prices and good job opportunities abroad as three of the main reasons for Britons to emigrate.

Foreign investment used to fund UK property

A couple from the UK hope an overseas property investment could help them afford a house in Britain, according to a newspaper.

The Metro highlighted the case of Paul and Samantha Emery, who have been priced out of the market in their home town of Watford.

Speaking to the newspaper, they said they believe a foreign property investment could be the solution to their problem.

The couple have purchased two properties in Bulgaria, as it is a much cheaper country with a rapidly-growing housing market.

This means that the couple could potentially make a profit if they sell up after the houses have gone up in value.

Ms Emery commented: "It has already increased in value, but we are holding onto it for five years so that we don't have to pay capital gains tax when we sell."

She added that they have been able to afford the mortgage payments by letting the properties out and collecting the rental yields.

According to the Association of International Property Professionals, Bulgaria was the fourth most popular foreign destination for UK buyers last year.

Strong euro influences holiday choices

The value of the pound against the euro is directly affecting people's travel habits, it has been revealed.

According to Directholidaybookings.co.uk, the strength of the single currency has put people off travelling to traditional European destinations.

This has led to many people seeking alternative options beyond the continent, such as Egypt and Morocco.

The two African nations were said to offer far more favourable exchange rates with the UK, which means holidaymakers could find they offer better value for money.

Andrew Gibson, director of DirectHolidaybookings.co.uk, commented: "British tourists are finding that their money will go much further if they consider alternative locations."

He added that the cost of visiting established hotspots such as Spain and France has risen "significantly" in the last few months.

This comes after the Association of British Travel Agents revealed that emerging economies and mid to long-haul destinations are becoming more and more popular.

Australia popular with British migrants

Britons who want to live abroad could find Australia a good place to live, according to property experts.

ShelterOffshore.com stated that the country is currently very popular with migrants from the UK, as it offers both lifestyle and financial benefits.

However, the website recommended that people research the market thoroughly before committing to a move.

"It can take time to get through the emigration process and this time can be well spent researching the market in Australia," it commented.

ShelterOffshore.com added that a third of Britons who moved abroad in 2006 moved to Australia and New Zealand.

This, it stated, means that there are large expat communities in many parts of the country.

The comments follow figures from HiFX which revealed a recent surge of interest in buying property in Australia.

According to the firm, the country was the subject of ten per cent of the enquiries it received into moving abroad last month.

Emerging markets attract British buyers

Property investors in the UK are increasingly looking to less-established foreign markets, according to a media report.

The Metro stated that a growing number of people are snapping up houses in places such as Egypt, Brazil and the Cape Verde islands.

This is because the markets are expanding at a faster rate than those in traditional investment hotspots such as Spain, France and the US.

As a result, owners of property in these countries have been collecting strong returns from both rental yields and capital gains.

The Metro added that investors are subsequently using the money to purchase a permanent residence in the UK, as they had previously been priced out of the market.

"Despite the credit crunch, buying property in Britain is still too costly for many people," the newspaper commented.

This comes after currency specialist FC Exchange said the housing market in the UK is in a state of "turmoil".

Australia attracts British migrants

Migrants from the UK are increasingly choosing to set up home in the southern hemisphere, according to a new study.

Research by HiFX revealed that interest in buying property in traditional hotspots such as France and Spain has waned over the last few months.

This was largely attributed to the less than favourable exchange rates with the UK, as the pound is currently at a record low against the euro.

Instead, Britons are increasingly opting to set up home in places such as Australia, a country which has recently seen a surge in the amount of interest from Britons.

Mark Bodega, director of HiFX, commented: "Thoughts of moving to a new life overseas continue to burn strongly within much of the UK population."

According to the Real Estate Institute of Australia, Britons are the third-largest group of foreign property buyers in the country, reports Homes Overseas magazine.

UK expats branch out

Expatriates from the UK are increasingly looking to move to less traditional locations, it has been revealed.

According to FinancialAdvice.co.uk, countries in Europe are still very popular locations among Britons who choose to move overseas.

However, the website said that more and more people are looking at alternative countries as well, including some long-haul destinations.

FinancialAdvice.co.uk commented: "It seems that many may now be branching out to countries in South America."

The online portal said some people are choosing to move because house prices in the UK are far more expensive than in many other parts of the world.

However, the weakness of the pound against the euro means that European countries are also expensive, whereas South America offers better value for money.

This comes after NuBricks.com revealed that Brazil is likely to experience economic growth of about 4.8 per cent this year.

Cyprus 'offers similarities to UK'

Foreign property buyers from the UK have been informed that Cyprus offers many similarities with Britain.

According to BuyAssociation, motorists on the Mediterranean island drive on the left, while many people speak fluent English.

The online portal added that the legal system in southern Cyprus is closely based on the existing system in the UK.

Paul Collins, property editor at the website, said this could be very good for Britons who are purchasing a residence in the country with a view to living there permanently.

He commented: "These are things that a lot of people look for because particularly if they're retiring, they don't want to be somewhere that's completely different."

Mr Collins added that the island is "great" for lifestyle buyers such as retirees and expatriates.

This comes after the Independent said that Cyprus does not seem to have been negatively affected by the worldwide financial crisis.

According to the newspaper, this development represents a "convincing case" for the island's investment credentials.

Negativity has been exaggerated, says expert

Many analysts have overstated the extent of the downturn in the global property market, an expert has claimed.

According to Darren Styles, chief executive of Brooklands Group, people in the UK are still very interested in buying a residence overseas.

This is despite the impact of the credit crunch on many housing markets and the negative media coverage that has come about as a result.

Mr Styles said: "It's a tribute to the strength of our brand and the resilience of our industry."

He added that much of the negativity about the effect of the credit crunch on the overseas property sector has been exaggerated.

Mr Styles was speaking after it was revealed that more than 13,000 people visited the recent A Place in the Sun Live show in London, which was organised by Brooklands Group.

According to research by the event's affiliated magazine, Spain and France are still the two most popular foreign markets among British buyers.

Indianapolis 'most affordable housing in US'

For the 11th consecutive time, Indianapolis has been labelled the most affordable housing market in the US, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

Of houses sold in the first quarter, 90.1 per cent were affordable to families earning the area's median household income of USD 65,100 (GBP 33,000), which may also interest those looking for an investment opportunity.

This is a sizable proportion compared to the nationwide results which report that only 53.8 per cent of all new and existing homes sold were affordable to those earning the national median of USD 61,500.

The smaller metro market showed that Kokomo in Indianapolis outstripped all others with 95.3 per cent of homes affordable to those on median income.

As customer service ratings are increasingly important in the home building sector, the publishing branch of the National Association of Home Builders has released Beyond Warranty: Building Your Referral Business to aid builders.

Egypt's tourism on the up, says report

A new report from the United Nations' World Tourism Organisation could be good news for anyone considering investing in property in Egypt.

It has been revealed that tourist levels in Egypt increased by 20 per cent during 2007, which has increased demand for property, reports Homes Overseas.

Speaking on behalf of La Siesta Tourism and Real Estate Services, Marion Isom explained: "This is excellent news for the buy-to-let market.

"Tourism figures always have an effect on the property market of a region and this rapid growth in interest in this amazing country is a welcome step forward."

Property seekers could also benefit from moves by the government to encourage financial input, resulting in tax incentives for foreign investment.

Meanwhile, those considering make the move from staying in hotels to resting in their own property may be interested in news surrounding the Grand Hyatt Hotel in Cairo.

It has been reported by the BBC that the owner, Sheikh Abdulaziz al-Brahim, has banned the sale of alcohol on the premises.

Property prospects in Turkey 'improved by EU talks'

Potential membership of the European Union (EU) could improve many aspects of Turkish living, which may interest those considering purchasing property in the country.

A report by Amberlamb looks at the hopeful predictions made about Turkey as an investment destination, made as it prepares for the busy tourist season with and following news that a positive economy is improving prospects.

Turkey has been seen by analysts to be making strong progress in its attempts to become a member of the EU, which has involved reformation of 35 policy chapters - six of which are currently being developed.

It has also been revealed that since talks between Turkey and the EU commenced in 2005, there has been a notable increase in foreign direct investment - of which property plays a role.

Foreign investment has also been improved thanks to news such as an increase in trade between Austria and Turkey, with a report from Select Property suggesting that 335 Austrian companies were working in Turkey as of May 2008.

The Cape Verde Government Throw a Lifeline to Investors Buying Furniture Packages

In a unique and unprecedented move, the Government of Cape Verde has commissioned an initiative, Cabo Verde Iniviativ SA (CVI) to protect the interests of its many overseas property investors who have purchased in their country and to ensure that mistakes made in previous property investment hot spots elsewhere in the world, are not repeated.

The Government has taken this step to secure their long term strategy for economic growth and stability in their newly developing residential tourism sector.

All companies operating under the CVI umbrella abide by a strict code of conduct, thereby removing in its entirety the risks in dealing with unreliable suppliers, as has been the painful experience of many investors in other countries.

Propertyshowrooms.com has long been a leading provider of information and resources for purchasers in Cape Verde, with the safety in mind that the agreement is in accordance with the local government. This arrangement will allow current and future buyers of furniture on the Islands the ability to save 70% in taxes and duty on their furniture purchases.

Currently tax and import duties are in the region of 85% on furniture on the islands meaning that substantial savings are to be made by investors and holiday home owners alike.

CVI enjoy solid strategic partnerships with some of the giants within the European travel industry are finalising plans to launch a new tour operation with the sole objective being to make the Cape Verde Islands the tourist destination of choice, furthering investment value in the country.

Find out more about Cape Verde furniture packages here.

New flights draw Brazilians to Dubai

The introduction of new flights between Brazil and Dubai has boosted visitor numbers in the emirate, it has been revealed.

According to the region's tourism and commerce marketing department, Dubai is likely to attract about 20,000 Brazilian holidaymakers this year.

Hamad Mohammed bin Meiren, head of the department, stated that this is about twice the amount recorded in 2007.

Speaking to ANBA, he said Dubai's growing popularity with Brazilian tourists is largely due to the introduction of new flights between the two locations.

Mr Meiren commented: "We are glad to see more Brazilians there and word-of-mouth advertisement has many people wanting to get to know Dubai."

This will be a positive development for owners of rental accommodation in Dubai, as it means their services are likely to be in greater demand over the next few months.

As a result, the emirate could be a good location for prospective buy-to-let investors to consider.

According to official government figures, Dubai attracted more than six million holidaymakers in 2007.

Tourism was said to account for about 18 per cent of its gross domestic product during this period.

Investors advised to consider Moroccan market

Overseas property investors have been advised to enter the Moroccan market sooner rather than later.

According to property expert Fouad Akalay, the north African country is currently enjoying considerable growth in its tourism industry.

Speaking to the Telegraph, he stated that this has had a direct impact on its housing market, as it has triggered a property boom.

This means that investors who purchase a residence in Morocco can expect their acquisition to go up in value relatively quickly.

As a result, they could potentially make a considerable profit should they choose to sell up at a later date.

However, this also means that investors who enter the market earlier will benefit the most, as houses will still be fairly cheap if they do not delay.

Mr Akalay commented: "Early investors should expect capital growth of 20 to 30 per cent for the next several years."

This comes soon after NuBricks.com described a property in Morocco as "a smart buy".