Spanish "bad bank" starts property sales.

Global Edge

Spain’s so-called “bad bank” has begun marketing the first batch of properties taken from troubled lenders at the end of 2012.

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UAE property prices at pre-crisis level

Arabian Business.com

UAE property values have returned to their pre-crisis levels and in many cases have climbed higher.

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U.S. may expand mortgage refinance program

Global Edge

The U.S. government is considering expanding its mortgage refinancing program to include borrowers whose mortgages are not backed by Fannie Mae FNMA.O and Freddie Mac.

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Overseas buyers help Spanish market to end year on a high

Global Edge

2012 has witnessed a perfect storm of negative news for the Spanish property market.  Prices are down year-on-year by 15.2% according to official statistics and the newly formed bad bank has led to a frenzy of price cutting by the savings banks.

The good news though is that on an annualised basis, Spanish property sales have increased for three months in a row

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There's never been a better time to move abroad

Telegraph

Spain continues to be one of the most popular destinations for British expatriates, despite its obvious economic difficulties, as the laid-back lifestyle and the convenience of the easyJet-corridor gives it an allure that is hard to resist.

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France - Mortgage Market Update

Connect Overseas

While it comes as no surprise that property prices have fallen in France over the past four years by an average of 3%. According to the latest analysis from Notaires, this figure hides larger falls in some rural areas, where falls of between 10 and 15% have been recorded. There has also been a substantial fall in property sales with figures from estate agents reporting a slump of around 20% in the volume of sales.

FNAIM, the national association of French estate agents, reported that house prices had fallen by an average of 1.3% over the past year. But again this headline figure masks the fact that in rural areas prices have fallen by as much as 8% in the same period.

The main drivers, apart from the international downturn, have been placed at the door of government action, including withdrawal of interest free loans for first time buyers. Currently property finance is available to non French nationals with fixed rate mortgages being offered with interest rates as low as 2.3%, with finance available up to 80% loan to value. Mortgages are available for the purpose of residential property purchases, second homes and investments. There are also remortgage and equity release finance options available. Lending starts from 30,000 euros up to mortgage terms of 30 years. As part of their finance package many lenders in France include a free property valuation and some do offer an interest only repayment option  alongside the traditional repayment method.

Capital Gains Tax on Second Homes for 2013

French Property

The government is proposing to grant a reduction of 20% in capital gains tax on second home sales next year.

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