Our investment brokers report in from the CEE...it's great news all round!
Welcome to this edition of your PRO newsletter. The main emphasis this week is on investing in Central and Eastern Europe and what changes are taking place over there, but for those interested in the UK don't switch off just yet! We have some very valuable information for landlords and property investors from our network of UK experts. More on this later.
We also have the usual columns from our regular editorial team, a fantastic opportunity to invest in Romania - Bucharest to be precise - website changes and event news. Let's get cracking shall we?
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This Week's Articles | On The Forums
Investment News | Website News | Event News
The Davies ReportBy Richard Davies, Investment Director
Exclusive to Property Secrets PRO members
Re-finance in Poland! The investor's greatest portfolio building tool has arrived!
"In just a few short weeks we're going to see emerge the first re-finance product for overseas investors."
Our focus on all things European this week comes from our Investment Team. Investment Director Richard Davies, Investment Broker Simon Blakebrough and Head of Property Management Oliver Watts have all reported back from Poland and Romania over the last seven days. You can read The Davies Report and Blakebrough's Blog over on the left, but let's see what Oli has to say.
"There's a new tax law in Poland that will potentially affect every one of the Property Secrets investors who has bought in that market."
"And at first sight it appears to be a biggie."
"But I want to clear up a few misconceptions and, in the process, explain that the reality is that no one needs to panic. As is so often the case, the market place has supplied a solution."
"In fact, the net result of the changes in Polish tax law, for UK resident taxpayers at least, will be nil. But, it is worth explaining why this is in detail because this is where several important misconceptions arise."
Interesting stuff, especially for those who have or are planning to invest in Poland. It's well worth a read, so check it out here in Oli's Eastside Story.
Property tax expert Colin Davison returns this week with another Question of Tax column, this time looking at principle private residences and how you can use the status to your tax-saving advantage. Those of you with more than one property and looking to save on Capital Gains should definitely take a look.
Blakebrough's BlogBy Simon Blakebrough
Property Secrets Investment Broker
Bucharest - Real salary levels and what you really need to know about the rental market
"Three key issues got me fired up at the recent Property Secrets Investor Evening in London..."
The US economy continues to affect all things European and Robert Liebman reports that it is once again defying the experts. To find out what that means for the rest of us click here.
Looking to refurbish a property and / or prepare it for sale? Then you need to read our latest Property Basics article, which gives you top tips on how best to go about it, keep costs low and save time! Check out Top Refurbishment Tips now and make sure you don't make the mistakes many landlords do.
David Lawrenson keeps us all up to speed on the latest legislation as and when it happens and there are some new laws regarding the Disability Discrimination Act. I'll let David fill us in.
"Under the Act, disability is defined as any mental or physical impediment that adversely affects someone's ability to carry out normal day to day activities."
"Disability has to be "Long Term" to count. This means the disability has to last, or be expected to last, for over a year."
"However, and few people realise this, things like cancer, HIV and multiple sclerosis are included within the definition."
"So, it's important to think beyond physical things like whether or not a person is wheelchair bound; whether or not you can see the disability does not matter."
"The new rules came in from December last year and what they say is that landlords should make 'reasonable adjustments' to their property if required and if asked."
What might these 'reasonable adjustments' be? You can read the full article to find out, but there are three key areas you'll need to bear in mind.
Property MattersA landlord's personal view on the market
Exclusive Property Secrets PRO members
Small is beautiful
"Small is beautiful landlord associations represent only a tiny number of landlords - but they can be very effective"
Click here to read more...
Property Secrets PRO members can read reaction from industry experts and experienced investors to many of our articles on the Property Secrets Discussion Forums.
Exclusive to PRO members, the Property Secrets Discussion Forums are a great place to chat with like-minded investors and get advice and opinion on property issues, including where to buy, what to buy, taxation, finance and property management.
Popular discussions this week have included...
- Refinance in Poland! - posted by Huw
Huw got the discussion going on the soon-to-be-had ability to refinance in Poland, sparked by the latest Davies Report.
- Anyone Sold A PS Unit Yet? - posted by minsk
Interesting question from minsk and one I'd be interested to hear answers to! It is still perhaps too soon for most of the developments we've offered, but rumour has it one unit in Marina Mokotow has already been sold - anyone else?
- Manchester Agents - posted by Bod
Bod wonders if a fee his letting agent wants for resigning an existing tenant is normal practice. "NO!" was the resounding answer. What are your experiences?
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M Y D R E A M
Bucharest, Romania
» Exclusive 5% discount on developers list price
» Ideally located in an affluent residential area with views of Baneasa Forest
» Up to 489% Return on Investment over 5 years
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Click here to view the Investment Report |
Property Secrets is delighted to offer you the opportunity to invest at a comparitively low cost into the booming market of Bucharest through My Dream, the aptly named development being built near the Baneasa Forest.
With an exclusively negotiated 5% discount on the developer's list price, we have 35 units, all with underground parking, available to Property Secrets clients. Located in the north of Bucharest close to the citys ring road, American International School, business districts and high-end residential developments, My Dream is ideally placed and priced to offer the investor a low cost entry into what is often, wrongly perceived as a high cost market.
This is truly one of the best value developments in Bucharest at the moment.
You can find out more about My Dream by clicking here...
Click here...look at the top of the website...see the change? Yep, you can now log in, manage your shopping cart, manage your account and make sure your membership is up to date from every page. It's a much neater, tidier way of using the PS website and also frees up space for us to provide you with even more advice and research to aid your investments!
There'll be even more to come over the next few weeks...stay tuned!
A quick heads up that we'll be exhibiting at the Homebuyer Show at the beginning of March at ExCeL in London. I'll be announcing more details of what we intend to do there throughout February, but I can tell you that we'll be having one of our popular Investor Evenings over that weekend.
Speaking of Investor Evenings, the next one is February 15th - that's a Thursday night - in Birmingham at Aston Villa's ground, Villa Park. Invites and full details will be in your inbox soon!
Finally, we now have an events page on the website - you can find it here, under the Investments drop down menu. At the moment it contains our Investor Evening calendar and a calendar of all the property related exhibitions, shows and events worldwide that we know of and track...and intend to attend! Take a look.
That's all for this week. Happy investing!
Cheers
Chief Executive Officer
Property Secrets
ES