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Property Abroad Buying property abroad is not as difficult as it seems. But here, as in any category of housing transactions, there are a number of its subtleties. You must have a clear idea on how to purchase housing in a particular country, as well as the requirements applicable laws of the state selected ... On this page of our site travel agencies you can find information about the possibility of buying property abroad, paperwork to buy a property abroad, as well as other useful information on buying property abroad .... |
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FORMS OF OWNERSHIP FOR REAL ESTATE
One of the most important issues that arise when buying overseas property - what form of ownership will apply to purchased a house or apartment?
In most European countries often operates private ownership. This option is the most preferred and reliable. The Owner shall be entitled to dispose of them at its discretion, sell it, send a gift or by inheritance. In some countries, for the purchase of housing in the private property of an alien must fulfill a number of formalities (to obtain a residence permit, register a business with a certain share capital, to live or to work out a certain amount of time on the territory of the State).
In many states, there are other, less common types of tenure. Thus, in some cases may involve the acquisition of property only for the right to use it, the transfer of an inheritance, and even sell, while the very house remains the property of the state. Such a property is classified as municipal. Homeowners are considered such only formally, but in fact are the tenants of real estate owned by the state. That lease and transferred in the sale or transfer of the legacy of such housing.
CIVIL RIGHTS OBTAINED in buying a home
Buying property abroad is not always involves getting the full package of civil rights to foreign owners. As a rule, is quite the opposite - the right owner of the house or apartment are substantially limited. Acquisition of real estate in a particular country may be only a first step towards obtaining a residence permit, or to work and conduct business in this state.
One of the most famous example is the Czech Republic. In this country, the alien will organize a company that acquires and housing. After that, the owner of the organization only receives a business visa, valid for a year, and only after this period the foreign investor receives a residence permit in the country for two years. Then, the residence permit shall be extended for the same period, and only after that a foreign investor can become a full citizen of the Czech Republic.
A similar situation exists in England and Italy. Acquisition of real estate here only gives the right to obtain a residence permit, and even then only if the homeowner has a valid business in the state. Buying a house or apartment in Slovakia makes it possible to obtain a temporary residence permit, but the housing must be owned by an organization established alien. Buying a property in Slovenia allows the holder to reside in a foreign country, and even expect to get Slovenian citizenship.
It is necessary to take into account another feature inherent in the legislation of a number of countries. Acquisition of housing in resort areas (namely, a property of great interest to foreign investors) are sometimes performed on simplified terms, however, and the rights acquired, together with the housing, is also simplified.
BUYING PROPERTY ABROAD IN CREDIT
Buying a property abroad - quite an attractive prospect in many ways. However, many potential buyers do not have the necessary amount of funds available, or do not want them to invest in real estate, having more profitable options for generating income from capital. In foreign countries, buying real estate with borrowed money and did the most common way to become master of your own home or apartment.
As a creditor should be considered foreign banks, or rather local. First, interest rates on loans from foreign banks is much lower than in our banks. For Ukraine, the average rate on mortgages fluctuate between 10-15%, whereas in most countries abroad - in the range 3-5%. Second, many foreign banks are offering mortgages are talking about a particular house, which falls under it. Accordingly, the terms of the loan in this case will be softer.
The process of buying foreign real estate loans made in three stages - the choice of housing, the choice of a local bank that can provide loan funds to purchase real estate to foreign citizens, the provision of this bank guarantee their own solvency.
Given that in most cases, the potential client is a foreign credit institution in unfamiliar circumstances, he can recommend hiring an independent consultant who will collect all the necessary paperwork and signing of agreements with the bank. The cost of services of such specialists is usually about 2% of the cost of purchased housing.
Pricing INTERNATIONAL PROPERTY
To a large extent determined by the value of real estate economic situation in the country. Therefore, certain predictions can be made on this basis. The state with a stable economy will be attractive to those who wish only to preserve their capital - increase in housing prices here will be small, but sudden collapses of its value can not be afraid.
Real estate in countries where the economic situation is constantly changing, can be classified as very risky. For several years, its price can grow quite rapidly, after which it is either sharply reduced or remains at an extremely high level. This instability often attracts many very large players, but the ordinary man in the street markets of these countries is better not to risk it.
The political situation in the country, the location of housing, the level and dynamics of the demand for real estate in your area - all of which can significantly influence what will change in value of individual housing in a short time. It is important to note that in order to invest in foreign real estate was the most profitable, we need as much as possible full awareness not only of economic and political situation in the country, but also about the dynamics of the real estate market in recent years. Only in this case, you can count on success. |
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