Property Solutions

Wealthy real estate investors drawn to luxury property in Morocco

Posted on August 31, 2013 at 2:09 pm

Image The second one home industry in Morocco is expanding and attracting domestic buyers in addition to wealthy property investors from around the world, consistent with a brand new report.

Over the decade, Morocco has benefited from strong macroeconomic policies that experience contributed to its economic growth, improving social indicators and expanding middle class, says the report from Aylesford International.

It points out that in keeping with Wealth-X there are actually 35 ultra high net worth individuals in Morocco, with a complete wealth of US$5 billion who’re excited by property as an investment.

Political reform introduced with a brand new constitution in July 2011 has meant Morocco has not experienced the social unrest of the broader north African region and as such, tourism and the second one home industry have continued to expand, attracting both fashionable domestic clientele in addition the international elite, and feature been key to compelling the country’s economy.

The report also says that there’s now a considerable expat community in Morocco. Foreign residents are primarily from Francophone countries and the united kingdom, in addition to those from much further afield. They may be drawn to Morocco’s moderate property transaction costs, liberal inheritance laws, and provide of outstanding, high end properties.

Recently, however, slow growth within the European Union, particularly in France and Spain that are Morocco’s key export partners, has had an impact on economic performance, and the present deficit is believed to have increased to eight.8% of GDP in 2012, in step with figures from the International Monetary Fund.

To that end, Morocco’s Budget in 2013 has sought to tax both high income earners in addition companies that produce large profits. Effective as of 01 January 2013 for 3 years until the tip of 2015, the ‘social contribution’ applies to individuals whose net, Moroccan sourced salaries are above 360,000 dirhams (£28,200), at progressive rates from 2% to six%. The best rate is applied to salaries in way over 840,000 dirhams or £65,800.

The report details what taxes are payable on trading property in Morocco. When buying there may be an agent commission of two.5%, at Notary fee of one% plus VAT at 10% plus a Notarial tax of 0.5%. There’s also a land registration fee of three% to 4% plus land registry tax of one%.

When selling a property there is no such thing as a inheritance tax as such but gift tax could be levied at a flat rate of 20%. Capital Gains Tax applies to the sale of a property unless it’s been the owner’s principal residence for 6 years. Gains are subject to the tax on real estate profits at a 20% rate.

The minimum tax is 3% of the transfer price. However, gains derived from the sale of property amounting to a maximum of MAD140,000 per year are exempt.

As far as local property taxes are concerned owners face and annul urban tax from local municipalities that are progressive from 0.025% to 0.5%. There’s a tax d’habitation that is an annual property tax in response to 0% to 30% of the rental value of the valuables. Only 25% of the assessed rental property value is subject to tax when it’s a primary residence.

Properties which can be attracting wealthy buyers in Morocco include a five bedroom villa in Marrakech with two guest houses, pool, tennis courts and a 3 hectare garden priced at €2.9 million.

There can be a four to 6 bedroom villa on a non-public estate which incorporates an 18 hole golf course, luxury boutique hotel, and spa that is due for completion in 2015 which start at €1.91 million.

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Children within the UK who like to buy their first property face waiting over a decade

Posted on August 29, 2013 at 11:29 am

Image Kids within the UK are finding themselves locked out of the valuables marketplace for years, leaving them with little hope of owning their very own home, it truly is claimed.

Would be first time buyers with families could face a wait of greater than a decade before they are able to get themselves at the property ladder and the wait rises to fourteen years for single people, consistent with an independent report commissioned for housing charity Shelter.

It says that these long waits for ‘generation rent’ to get at the housing ladder mean an important shift within the way teens reside their lives and should influence families everywhere in the country.

Many children would be left trapped in uncertain private renting, facing years of soaring rents, short-term lets, and unexpected letting agent fees. Others must live as much as the truth that living with mother and father, even into their mid-thirties, can be your best option left.

‘This research reveals the cruel reality that teenagers today are facing on account of our shortage of affordable homes. These shocking results show that once it involves saving up for a house of your personal, things today just aren’t what they was,’ said Shelter chief executive Campbell Robb.

‘It is ideal that folk work flat out and save up in the event that they like to own a house, however the government has to begin meeting people halfway. Unless we see radical action to tackle our chronic shortage of affordable homes, the subsequent generation of teenagers will find it even harder to search out a spot to name their very own,’ he added.

The Nationwide Building Society welcomed Shelter’s demand cheaper housing to be built to assist adolescents buy their very own home. Nationwide, that’s a partner to the charity, lent a record collection of mortgages to first time buyers last year, but agrees more might be done to liberate the marketplace for people on the bottom of the valuables ladder.

‘Nationwide is supporting youth by helping first time buyers get a house in their own; last year we provided 42,000 first time buyer mortgages. However, a significant component stopping more people from buying is the low supply of affordable homes,’ said Stephen Uden, Nationwide’s head of citizenship.

‘We echo Shelter’s demand action to construct more houses to spice up the availability to first time buyers. We now have also referred to as for the reintroduction of a stamp duty holiday for first time buyers and the whole overhaul of the stamp duty system. This is able to be fairer to these buying their first home and would also encourage second steppers to head, freeing up more homes for folk starting out,’ he explained.

‘Last year, Nationwide pledged to assist 750,000 people right into a home in their own over five years, to 2017, and is operating with Shelter to accomplish this. We glance forward to continuing that relationship in further support of first time buyers,’ he added.

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Posted in Property Solutions

The Activities Performed by Professional Cleaning Contractors

Posted on August 29, 2013 at 9:39 am

For a company that aims at becoming the best in its field, projecting an image which shows its articulate side is essential. An office that is clean and in good condition represents professionalism in whatever business they are dealing in. commercial office Cleaning Contractors Kettering can perform wonders when it comes to this regard, since such firms normally undertake the cleaning projects of organisations of all sizes a very affordable rates. The Commercial Cleaning Contractors Kettering carry out all tidying operations with utmost expertise and ensure that the designated buildings are in the best possible condition.

A reputed company that is engaged in offering cleaning services specialises in various activities. The standard practices performed by a Cleaning Contractors Kettering include the following; Carpet Cleaning, Commercial and Industrial Cleaning, Window Cleaning, Office Cleaning, End of Lease and Construction Cleaning, Rubbish Removal, Dusting and Desk cleaning, Vacuuming, Disinfecting kitchen, restroom and telephone handsets, Collection of Trash, Mopping and Wiping, Lunchroom cleaning, Spot clean – including finger marks removal from glass, Thoroughly clean all toilet areas, Hard Floor Stripping and Sealing, Tea Towel Service, Recycling, Laundry Services, Car Park Sweeping and Maintenance, Pressure Cleaning and Graffiti Removal.

An office cleaner that has been hired by a company normally specialises in at least one of the above mentioned tasks and carries out the chore in a manner that exudes skills and quality to its core. The services offered by agencies involved in this field are well-known for their affordability and effectiveness. Such features make them needed for companies of all sizes, and because of that the demand for Commercial Cleaning Contractors Kettering has grown tremendously.

While carrying out office cleaning services, the staffs ensure that all of the front and back areas of the buildings are cleaned as per the required standards. The personnel ensure that the areas specified in the contract are cleaned within the pre-determined period of time. The places to be cleaned are normally zeroed in by the customers and the resources are provided by the commercial cleaning service providers. The services are performed by the professionals using the modern and most sophisticated tools and techniques, with environment friendly practices, such as the use of alternative microfiber and waterless technologies, being integrated in the operations.

The services offered to a specific client can be customized by lessening or adding the neatening tasks as per the company’s requirements. Carpet cleaning is a challenging task and the experts who carry it out do more than just removing the dirt and dust stuck in the carpets. The Carpets Steam Clean services are performed to perfection by highly trained professional, who conduct the following steps; Pre-inspection, Cleaning, Rinsing, Deodorizing and Final Inspection.

All the tasks require the level of professionalism that only a well-qualified staff can possess. The service is performed for all carpets within the premises of the company, and the commercial cleaning companies undertake all aspects of the task, including the removal and relaying of the carpets.

Posted in Property Solutions

Property investment inside the US is cheaper than ever with mortgage rates lowest since 1950s

Posted on August 27, 2013 at 6:53 pm

Image Mortgage rates within the Usa at the moment are near their lowest levels since future mortgages were first offered within the 1950s, in keeping with new research.

A 30 year fixed mortgage currently costs as low as 3.6% in interest to service every year and this has made houses cheaper and driven an incredible rise both in mortgage applications and in refinancing to cheaper deals, experts claim.

American property has also turned the corner with prices continuing to rise, in line with the most recent research from the leading measure people home prices S&P Case-Shiller index. The info shows that house prices rose by over 10% within the last four quarters and all 20 cities within the index posted positive year on year growth.
 
For those considering property investment within the US, the climate is favourable and hotting up. Low, but rising prices and lengthening average rental rates give the chance to realize far better yields than inside the UK, says Axis Property Investment.

‘America’s demographics also support the market. Younger people still find houses relatively expensive, so they’ve switched en masse to renting. As a consequence, America’s rental market has boomed in recent times, helping to support prices,’ the firm says in a report.

It also points out that rental vacancies are actually at their lowest levels in over a decade, while the homeowner vacancy rate is at its lowest point since March 2006.  Selected regions within the US can easily give a rental yield of well above 5%.

While there are great opportunities to be seized within the US, there also are significant risks for overseas buyers and the firm says buyers must realise that real estate brokers don’t necessarily operate inside the same way as in other countries.

It points out that properties are sometimes sold as seen and you’ll be taking over a property with associated problems either in the case of the material of the building or debts associated with the address that may be passed onto the recent owner.

‘When buying real estate within the US you’re dealing in with property thousands of miles away. The legal system, language and feel could be just like the united kingdom or indeed elsewhere, but there are a many differences, both subtle and demanding. Location is basically critical, as an instance, as one side of a street can be a great investment while the opposite side is a disaster,’ the firm says.

It believes that more research must be done into prices before buying as property valuation inside the US is different. ‘Firstly, you should know in case you are paying the wholesale or the retail price for a property. It can be the case a place has a heavy concentration of wholesale units on the market at a definite time and this can well affect the perceived market price. Detailed research of local, regional and national markets and trends is critical with the intention to get a holistic picture and this might well prevent you from making a luxurious mistake,’ it explained.

Other issues worth checking if you’re renting out the valuables is where there’s a tenant before you purchase. ‘A pre-tenanted property means there’ll be no initial void period and your income stream will begin to circulate your account. Furthermore, there’s also associated hassle and stress with an empty property including the opportunity of vandalism, or the upper insurance premiums you’ll have to pay for an empty unit,’ the report says.

‘Carry out independent research to make sure the deal really stacks up. Investigate cross-check what’s said concerning the neighbourhood, conduct comparable price checks. Consider independent legal advice and ensure you realize the connection between you, the seller and the lawyer assigned to appear after the sale. Some Title Agents do precisely what their name suggests, they merely check the title at the property is obvious and won’t feel it’s their place to advise you on other aspects of the deal. You might want to refer to an independent legal representative with the intention to ensure the contract is fair and reasonable,’ it adds.

The firm also recommends that overseas buyers commission an independent property inspection report and for investors to have a pragmatic exit strategy. ‘We are currently on the bottom of the usa property cycle just on the point where prices are beginning to rise. That will derive the best overall returns, you have to be seeking to sell on the top of the cycle and this would take a little time to reach, perhaps even a decade from now,’ it says.

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Posted in Property Solutions

Investment in residential rental property within the UK rises significantly

Posted on August 25, 2013 at 8:14 pm

Image Landlord investment in residential property has increased significantly over the last three months despite a slight easing of tenant demand, new research shows.

In addition to more landlords buying properties, the choice of landlords selling their properties also is down, in step with the survey by the Association of Residential Letting Agents (ARLA).

The proportion of ARLA members who think landlords are currently increasing their net investment inside the private rental sector (PRS) by buying properties has risen from 30% to 39% during the last three months, indicating that rental property continues to be perceived as a secure investment amidst ongoing financial instability.

The research also found that the percentage of landlords selling their properties is additionally down incrementally at the previous quarter, from 15% to fourteen%, again indicating sector confidence.

Despite this positive investment background tenant demand has actually weakened slightly within the second quarter. ARLA’s research shows that 54% of respondents said that there are more tenants than properties, a decrease from the 57% seen within the first quarter. 

‘Our research shows that rental properties are still seen as a very good investment option, despite the challenging economic system. The slight slowing in tenant demand is worth noting, however the overall trend remains to be a continued appetite for rental homes,’ said Susan Fitz-Gibbon, president of ARLA.

On balance ARLA members report increased achievable rent levels during the last six months on every kind of rented property. The common proportion of respondents across all property types who say they believe achievable rent levels have increased over the past six months has changed little because the last survey, but rose marginally from 34.4% to 34.7%.

The overall average capital asset value of rented houses has risen by 0.5% during the last three months, the second one increase in succession. Over a similar period, the typical value of rented flats inside the country rose by 3.8%, also the second one increase in succession. This increase has come as a result of the increases within the average value of rented flats for those managing properties in Prime Central London, up by 3.4%, for those within the remainder of the South East up by 4% and for those inside the remainder of the united kingdom up by 4.7%.

Since the last survey three months ago, demand within the rented residential property sector has weakened a bit when it comes to the entire proportion of respondents saying that there are more tenants than properties available for them, with the figure falling from 57% to 54%, greater than reversing the rise seen then.

This overall decline was reflected in all the broad geographic areas with the figure for high Central London falling from 35% to 32%, that for the remainder of the South East falling from 69% to 66% and that for the remainder of the united kingdom falling the least, from 58% to 57%. Compared with three months ago, the common void period is up from 2.9 weeks to 3 weeks, again reversing the rise seen then, whilst the common variety of new tenancies signed up inside the preceding three months has risen from 32 to 34 tenancies, based on the standard seasonal trend for the second one quarter.

The average proportion of ARLA members’ offices’ portfolios which might be made of investment property is virtually unchanged compared with three months ago at 56%. However, the typical variety of purely investment properties that are managed by ARLA members’ offices is down from 156 to 149 properties, partially reversing the gigantic increase seen three months ago.

On average, ARLA members say that tenants remain within the same property for a period of nineteen.8 months, a figure that’s up slightly from 19.7 months within the first quarter.

The proportion of ARLA members’ offices who believe that they’re seeing a rise in rental property coming onto the market as it can’t be sold has fallen again over the past three months but not as dramatically because it did last quarter. This quarter, the figure fell from 29% to 26%. Detached and semidetached houses are still the categories of property most certainly to be coming onto the marketplace for this reason.

 There have been another fall within the proportion of ARLA members’ offices saying that they’ve seen a rise within the collection of tenants struggling to fulfill rental payments inside the last six months with the figure declining from 39% to 36%. There has also been a decline within the proportion saying that they’ve seen a rise in tenants haggling with landlords over rents within the last six months with that figure falling from 50% to 49%, partially reversing the rise seen last quarter.

Over the last three months, there was a fall within the proportion of ARLA members’ offices saying that they’re acquainted with a rise in tenants asking lenders for references on potential landlords to make certain they may be financially viable, with the figure dropping from 10% to 9%, again reversing the change seen three months earlier.

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