cayman-islands

Governments Are Loosening Offshore Property Markets

There are still golden opportunities to be had for nonresident property owners amidst the global property drop. A increasing number of governments have become more open to foreign investors, loosening or temporarily suspending property laws in hopes of stimulating there real- estate markets. Governments have been doing this for years in response to slow down swelling interest.

Beijing, for example, has suspended their one year residency requirement for foreigners to buy property. The Cayman Islands and Australia are amongst the other nations loosening restrictions.

Our recently slow property market, has once again created a need for governments to stimulate there property market. Cayman Islands temporarily lowered rates on there real estate transfer taxes, including drop of 2.5% on waterfront property. The Islands’ real estate brokers group announced a 20% rebate on all commissions, which will last through till September 30.

Most Western EU countries, including France, Italy and UK, do not have strict laws on foreign nationals owning property. Restrictions on foreign ownership are mainly found in emerging property markets, such as outright bans and high transfer taxes. Much of it depends when and how much money investors can repatriate or whether the purchase is residence or an investment.

While some governments believe that foreign investments spur on the economy, others blame it for driving prices to higher levels.

Now is the perfect time to start or increase your offshore investments. The key is to know when and where to put your money, not every country is right for you.

Property Consultancy International can help you get invested.