Diarmaid Condon’s blog – for independent commentary and analysis on what is happening in the overseas property industry.
A suspected land banking scam has had its assets frozen by the Financial Services Authority. The High Court order applies to Asset L.I. Inc. (trading as Asset Land Worldwide), Equity Services (London) Limited, and Asset Land Investment PLC.
The French government announced tax hikes on Foreign Property Owners. Tax on rental income could rise from 20% to 35.5%, applied retrospectively from January 1, 2012 and CGT on sales would rise from 19% to 34.5% from the end of July.
His value investing philosophy has seen his company ride out many bubbles and bursts, not least the one from which the US is struggling to emerge. When he says things people tend to take notice – and he says now is the time to invest in US property.
The ratings agency has downgraded 11 European banks, including Rabobank, which is worrying for Irish investors. Should we have our cash and investments somewhere else?
Investors in the infamous ‘Westwood 100 Club’ won’t be happy to hear that Companies House has issued a first notification of strike-off action against Worldwide Sports Investments.
Many of the locations in which Irish investors have put their money have struggled since 2007. Germany was touted as a ‘safe haven’ investment, I check out how it has been performing.
Landbanking Scams have been around for many years, but the recession has led to a rejuvenation in their nefarious ways. Sky News does a report on one such company.
Peterborough United Chairman and former CEO of MRI Overseas Property, Darragh MacAnthony, appeared in a closed court session in Marbella on April 25th 2012 to answer charges that his company defrauded clients when taking money for furniture packs that were not consequently delivered.
2 bed, 2 bath Sonoma lakeside condominium, originally $156k – now $45k. Ideal buy-to-let investment in strong rental area.
Cypriot Property Rights Protest outside the ‘A Place in the Sun Live’ exhibition to highlight the problems associated with buying property in the Republic of Cyprus.
