With more financially distressed property on the market than you can shake a stick at, real estate auctions seem to be the best way of moving excess inventory, and will hopefully give some idea as to current market prices in the UAE. At the moment it is anyone’s guess. Sherwoods are organizing an auction of some 50 properties in the UAE in June. Their press release is below:
Real Estate Investments in Cyprus – The Ugly
Once again, the justice system in Cyprus displays its customary incompetence and reluctance to do any real work. The archaic laws concerning real estate investments in Cyprus still contain gaping loopholes, allowing unscrupulous developers to steal money from buyers. Thousands of foreign buyers have been scammed by property investors, in a scheme dating back to the 1980’s, with little sign of any attempt to fix the system.
I came across an interesting article recently on the Financial Times website. It is interesting for a a number of reasons which I will discuss. This is the article in question -
Singapore can survive a recession if the Government comes out with a good Budget Report next month. But what happens if the current recession stretches on beyond the 2 year mark and drags on for a few more years? News reports have led us to believe that the world hasn’t seen an economic downturn of this magnitude since the days of the Great Depression in 1929.
Glasgow-based Jabbar Fund Management today announces the launch of the 20m euro MENA (Middle East and North African) Real Estate Fund.
Developed in partnership with FSA-authorised operator Acorn Corporate Finance Ltd, the Fund provides a tax efficient route for investors seeking exposure to one of the world’s most dynamic real estate markets.
