Investment Property in Montenegro is Definitely One to Watch

High mountains, deep inland lakes and a spectacular southern coastline of bays and beaches, plus sunny summers and mild winters, are just some of the reasons why Montenegro has become a holiday hotspot. Combine this with the fact that it occupies a key location for business, is attracting foreign investment, has a rapidly growing infrastructure and has been a sovereign state since 2006 upon its independence from Serbia and you have one of the world’s most intriguing emerging property markets.

Montenegro is aiming for EU membership in 2014, which will add to its attractiveness for buyers looking for investment properties or holiday-home ownership. There are no restrictions for foreigners wishing to buy property in Montenegro, other than land for development, and the buying process is relatively straightforward. Montenegro property prices and lawyers’ fees are low and there is no capital gains tax liability in Montenegro, all of which is helping to fuel the sector.

Montenegro is well served by airlines. Flights arrive at Podgorica and Tivat airports regularly from Europe and further afield, plus into Dubrovnik in Croatia, which is a drive of around 50 minutes across the border to Montenegro’s Bay of Kotor. Kotor, a fabulous old city that has been recognised as a UNESCO heritage site, and is one of the country’s most popular holiday hotspots, lies on the banks of the bay.

Much of the new development is taking place around Kotor and already there are reports of property increasing by as much as 100% over the past year or so, with the potential for further capital growth being maintained, plus excellent rental returns being achieved through holiday home rentals.

“Montenegro property offers an excellent investment opportunity,” says Glenda Lazare, managing director of Key Universal, an overseas investment specialist company. “The country has a burgeoning tourist industry, bolstered by the government’s Tourism Masterplan 2007-2020, which aims to develop high-end hotels, golf courses and other luxury facilities in order to attract affluent tourists.”

Key Universal is currently marketing Kotor Apartments in Dobrota on the fringes of Kotor. A boutique residence of just ten two and three bedroom contemporary apartments offering stunning sea and mountain views, and a specification that includes parquet flooring, granite staircases and fitted kitchens and bathrooms, the development is ideal for investors looking for exclusive holiday-home rental opportunities, says Lazare.

The complex will have landscaped gardens, a pool and parking spaces. Key Universal has negotiated a special deal direct with the developers and prices for the upmarket apartments will start at EUR154,880 (£124,000), with a 30 per cent deposit and 70 per cent payable on completion. “The rugged beauty of Montenegro continues to attract high-profile visitors, including Michael Douglas, Catherine Zeta Jones, Madonna and The Rolling Stones,” adds Lazare. “It is being tipped as the next Monte Carlo.”

Other companies marketing in the Kotor area include Europe Property Plus, which is offering Dobrota Heights, a brand-new luxury collection of apartments from around EUR225,000 (£180,000), and Rosco Properties that has off-plan apartments at Herceg Novi-Igalo from …

Tips On Picking "Sleeper" Real Estate Property

Real estate investing is all about perception. Your perception of where the market is going, in conjunction with where it’s actually going. The aim, as always is to buy low and sell high.

You want to buy a cheap tract of dirt and sell it as a high priced piece of developed real estate, after it’s appreciated enough to turn a tidy profit. Selling the property is an art in and of itself.

Buying an initial tract of dirt lends itself to some solid, rational guidelines:

First, look at trend lines for housing prices in your area. While most housing markets are in decline (and the housing markets in Florida and California are adjusting from more than a decade of over-valuation), there are markets where the housing prices are going up. This is a decent leading indicator that there’s a market for expansion.

Second, look for job related news. Home purchases require a steady source of income. New employers moving into a city, or a government branch office opening up are a strong indicator that good, well paying jobs are likely to come up. Where well paying jobs roost, home purchases follow.

Related to this, talk to your local city planning office. Are there recent purchases of “right of ways” to lay down sewer lines? Is the local telephone cable making plans to run out fiber optic lines – a “must have” trend in new home construction. These things point to areas where home growth is immanent. Other big tip offs are school bond issues (found in your local news paper) and new parks being opened up.

Before you look at the land, check out the adjacent commercial real estate usage. Look for “family friendly” or “residential friendly” commercial properties: Houses that are close to grocery and clothes shopping tend to fetch a higher price than ones that are farther away. If there’s a movie theater nearby, or plans for an elementary or middle school, factor that into the size of the homes you build, and what their amenities will be; buyers looking for those features are looking for “mover upper” homes – with a bit more floor space, and two (or three) bedrooms for the kids. Other spots to look for are anchor stores, like Wal-Mart and Best Buy. These companies spend millions on surveys of purchasing patterns before buying a store location; if they’re buying a plot of land, you’ve got about a year to a year and a half window to look into nearby real estate for single family residential and rental residential properties.

You can even flip this on its side – if you can talk to a group of commercial real estate investors, building a shopping center as the nucleus for home development is also a viable combined strategy. This also applies to highly urban areas. Many downtown areas that have been abandoned by businesses can be converted to apartment buildings, and some of the older housing projects are being torn down for mixed-use spaces …

Locating Unclaimed Abandoned Property and Financial Assets in Israel Finding & Locating Real Estate

In Israel, thousands of assets totaling approximately 15 billion Israeli Shekels currently remain unclaimed. These unclaimed assets include land, developed real estate, bank accounts, stocks and bonds.

“Abandoned property” is defined in section 1 of the Law as an asset in respect of which no one is entitled and able to be treated as owners, or an asset whose owner is unknown.

Naturally, the need for claiming, finding such property, assets, lands by their rightful heirs arises. The process of locating lost, abandoned or unclaimed assets in Israel requires, among other things, a very competent, diligent Israeli attorney with depth understanding as well as a proper investigation to trace those lands & assets. How to find and locating a lost or abandoned property in Israel? This article discusses this matter.

The first step is to gather any relevant data including family tree and or any ID number in order to start the due diligence and genealogical evidence to track the property, estate in the Israeli Land Registry Offices “The Tabu”, Minhal or Hevra Meshakenet. We will learn the name of the current or historic landowner as well as his Israeli ID number or American/any passport. The information held by the Israeli TABU is considered highly credible and sensitive, and it is part of the Israeli land database.

Second step is to check: 1) managing the abandoned assets for the benefit of the private owner/s and 2) releasing the assets to those entitled to them after getting a Israeli probate court order, or where beneficiaries can not be located, transfer the property to the State of Israel until the right heirs will be found.

We handle various types of abandoned assets in Israel, including real estate, lands, personal property, funds and bank accounts. By law, an “abandoned property” in Israel is defined as an asset in which its owner or manager cannot be found or is unknown, and can be released only by a probate process and a court order that will determine the right heirs, and now owners of the Israeli land or any financial asset in Israel.

The Israeli government concludes its management of the property in one of three main actions. Firstly, it can release the asset to the person who is the lawful owner again by a Israeli probate court order. Alternatively, it can transfer the asset to the State of Israel. Thirdly and lastly it can transfer the asset to The Company for Location and Restitution of Holocaust Victims’ Assets, if appropriate.

We will discuss in detail the first aforementioned action – negotiation with The TABU over unclaimed property. In this case, the person claiming a right to the property must prove to the satisfaction of the Israeli Administrator General that he is the legal owner of the asset. In this process, the Israeli Administrator General will act very carefully to ensure that it has received sufficient information regarding the applicant’s rights and a probate court order that proofs the person are the legal heir. Then, …

Buying Property in Messinia – Why Investors Interest is Growing

Messinia – An Investment Hotspot

Messinia is the latest area to become of interest to investors and developers in Greece. Messinia is located on the southwest of the Peloponnese which hosts some of the most significant and impressive ancient sites in Greece. The climate is usually mild and green in the winter and it’s not too hot in the summer. Messinia has and abundances of outstanding natural beauty and more than 100km of coastline, with some of the best and cleanest beaches in the whole of Greece.

Messinia offers many larger parcels of development land and there are many investment opportunities to be found. Particular attention is focusing on the areas of Finikounda, Methoni and Pylos.

Why the Interest in Messinia?

Interest has increased largely because the Government is actively encouraging investment in Greece with new laws aiming to stimulate local revenue. Messinia is one of the largest areas to benefit from these plans.

The private sector has also shown a great deal of interest in Messinia and have been buying large parcel of land for the development of holiday rental units. It is estimated that over the next 3 year Finikounda alone will have accommodation for over 2000 tourists. So it’s easy to understand the current interest in Messinia.

* Golf Tourism Developments in Messinia:

Petros Doukas, Deputy Minister of National Economy and Dimitris Avramopoulos, Finance and Minister of Tourism are keen to see more golf opportunities. Messinia has benefited directly from their campaign and planning consent has been given for 7 new golf courses in the area. The courses will all be within half-an-hours drive of each other. There will be 2 championship18 hole golf courses at Pylos and Romanou as well as 5 other smaller 9 hole golf courses nearby. Construction of the Championship courses is already under way and they are due to open in the spring 2008. This will bring an international cliental all year around. Studies have shown that more than 200,000 visitors to Greece annually are potential golf tourists. It is easy to understand the current interest to develop this high-end attraction in one of the world’s most attractive climates.

* New Road Plans for Messinia:

In addition and in accordance with the government’s guidelines for the ‘Good Road Plan’ a new motorway is under construction from Tropoli to Kalamata and is nearly completed. This will increase accessibility from Athens, directing traffic to the Messinia area and the commercial port of kalamata. Currently the drive from Athens takes 3.5 hour, but the new motorway will reduce this time to less than 3 hours. Another new major road is planned between Kalamata and Methoni further opening up the area.

* New Marine Planned for Velika:

Kalamata currently has one of the largest and best yachting marines in the whole of Greece. Many people choose to moor their yachts here over the winter. This has two effects for Messinia. Firstly, these people often buy houses to reside in during the winter. Secondly, Kalamata marine has …

How to Claim Lost Property

Most of us think that claiming lost property is not for the majority. The reality betrays the common notion about the process of claim. Almost 80% of us have left behind cash and property at some point and failed to claim it. As the time goes by, the desire to claim our lost property fades and slowly it goes down in our list of specified. But, who does need their hard earned cash or property?

Most of the state governments and the federal authorities are aware of the volume of unclaimed cash property. They have created laws and public-interest regulations that expedite the process of identification and retrieval of unclaimed or lost property. Most of the searches for lost properties can be performed online from the comfort of your home. Online search forms make it easier for citizens to formally apply for the claim of the lost property.

What Will the Federal Government do for Me?

Federal government ensures that your lost or unclaimed cash or property is secure and it can be retrieved through a proper channel and through a prescribed process. Contrary to the notion, federal government will not find the money for you, although it provides you with all the tools and databases of unclaimed and lost property to make the search on your own. In addition, every state manages its own database of unclaimed property and has its own rules for claiming the lost property or money. Apart from the federal and state government and agencies, there are a few reputable and reliable private firms which assist in claiming your lost property.

How Should I go About it?

In this age of internet pervasiveness, some of the most obscured information is available on the internet, only if you knew where and how to find it. So, if you have lost property or unclaimed money, the first place would be to go on the internet and start looking for unclaimed or 'lost property' databases in your state – or to be more precise, the state where you presumably lost your property . The following practical steps would go a long way towards the planning for the 'claim of your lost property'

• Make a list of the states where you have lived
• Make a list of the organizations where you have worked in the past
• A list of banks where you had your account will also help in the process
• Identify the most reliable databases for unclaimed property or money
• Identify any reliable agency which has a good reputation

Once you have performed the above actions, it is time to find your lost property. You can start by entering your personal and professional details in each of the above databases and organize the results (with contact details of the authorities). In addition to the personal investigation, you can also seek the help of professional search agencies which have very nominal fees. At the end of the above process, it is time to make …

Brain Drain: 3 Keys to Keeping Your Most Important Intellectual Property

I met a gentleman many years ago at a networking group and he invited me to meet one-on-one at his office. As we talked, he began to unveil things about his personal life. He had been a Financial Ambassador for the U.S Government to Turkey and several South American countries. That was all interesting. What was most intriguing was that his father was one of the two original scientists that had run the Manhattan Project. He then shared with me an insightful comment, ‘With everything that is known about nuclear bombs, there are still things he knows that he never shared.’ It makes you wonder, doesn’t it? Did that lack of knowledge transference cause the further development of nuclear technology to be slowed down? Could there have been different methodologies, processes, or products developed had that information been made immediately available? And, so many more unanswered questions.

The same thing is happening right now in your organization. How many times have you had an employee leave your company, or they had a personal crisis, and then you realized there was information they possessed that hadn’t been captured?

Here are a few of the affects you may have experienced:

1) A process that used to flow easily is now shut down because no one knows about a “missing” step

2) Your largest clients cease to do business with you because you failed to implement a promise that was made by the person that left

3) Chaos breaks out between departments because the person that left had information on how to create harmony between them

4) Some other catastrophic outcome

What can you do to have the competitive edge of keeping that all-important intellectual property? Here are 3 keys that will help immensely in creating a natural “Brain Drain” (Knowledge Transfer) process:

1) Treat your employees like volunteers.

Their paycheck will buy their sweat and time. No amount of money can buy their creativity, innovation, passion, and loyalty. Those are earned through building a strong relationship, both business and personal, and by building trust. Let me give you an example of how well this works when it is put into practice: I know a person that departed from their job a few months ago. The company and the person had an excellent relationship. The parting of ways was on very good terms. After being gone now for a few months, the person and company are still in regular contact, still volunteering and harvesting information that is needed for the company to continue flowing smoothly and easily. Because of the trust and loyalty between the person that left and the people at the company, the person is still acting as a ‘volunteer’ and helping fill in any missing information that would otherwise stopped the company in its tracks.

2) Create a culture that encourages knowledge transfer.

Most companies that I’ve been involved with unknowingly create a climate of distrust and encourage people to hold onto “special” information that they, and they alone, are …

Legal Claims in Pennsylvania Involving Stormwater Onto Your Property

In Pennsylvania, there is a law of surface waters found in legal case law. That is, a municipality or another property owner is responsible for harm to an adjoining landowner if that first owner or municipality artificially diverts or channels surface water (including storm water) onto that adjoining property.

Even if there is not additional volume of water, if the storm water is diverted resulting in higher intensity or concentrated flow, then there is liability if damages result.

A municipality has the right to manage storm water and to protect public health and safety. However, it must balance that with the rights of adjoining landowners.

If a storm drain system or runoff pipes are negligently constructed such that they do not adequately control the runoff, then there is liability for harm caused.

This can be found at the Pennsylvania Storm Water Management Act (32 PS Section 680.13 et seq). The Act requires that there be a plan in place to handle water runoff resulting from construction that involves drainage or alteration of storm water runoff.

If the soil disturbance from a construction project is large enough, or if the soil disturbance is close enough to a protected waterway, then a permit and/or a soil erosion control plan must be filed with the PA Department of Environmental Protection.

So, there are two main things to be aware of that may give rise to a legal claim in Pennsylvania regarding storm water. First. if you are doing construction involving a large amount of soil disturbance or you are within proximity to a protected stream or waterway, you should determine whether you need a permit and soil erosion control plan. Second, if you are a homeowner or landowner in which you believe that storm or surface water is being diverted onto your property at a greater flow or intensity, then you may have a claim if you have resulting damages.

In the second instance, if you believe your property is being damaged, or there is a resulting injury to a person, then you should investigate the source of the problem. If there is recent construction of culverts or some drainage system, you should check with both your local government and PA Department of Environmental Protection. Find out what the project was and whether there needed to be a permit and/or erosion and soil control plan. Even if a permit or plan was not required, it still may be a violation of the Storm Water Management Act or Pennsylvania case law if the diversion of the surface water was negligently constructed or otherwise artificially channels water at an increased flow or velocity onto your property.

In such legal claims, there may be legal causes of action for: negligence, trespass, nuisance, or violations of the PA Storm Water Management Act or the PA Clean Streams Law. The Clean Streams Law (35 PS Section 691.1). The Clean Streams Law does allow for private citizen legal claims for pollution runoff into a waterway. It more often applies …

Tenant and Landlord Responsibilities for a Rental Property

Whether you are a tenant or a landlord, it is important that both the tenant and the landlord have a fair understanding of the required responsibilities and rights, to have a peaceful and pleasant renting experience.

Property Dealers in Dwarka involved in renting business offer society flats, apartments and DDA flats for rent in Dwarka. The people who rent these residential properties are called tenants. When a person rent a property, the basic rights and responsibilities of both the tenant and the landlord are spelled out in the lease agreement. To avoid confusion and legal disputes, both the landlord and the tenant must be aware of these responsibilities and rights.

Types of Tenancy Agreement

Indian Tenancy agreement consists of 2 different types of contracts namely the Lease Agreement covered by the Rent Control Laws and the Lease and License Agreement, which is not covered. The first option allows the tenant to get the ownership of property for an undefined period of time. This becomes a big problem when the tenant refuses to vacate and to find a legal solution to this problem may take the court a very long time of 10 or 20 years. The second option however, is more viable as it comes with conditional agreement of ownership for a limited period of time with the option to renew with certain changes in rent and stay. This is the most popular contract which most of the real estate agents in Dwarka choose.

Deciding on Rent

A Lease Agreement is covered by the Rent Control Laws. The landlord can decide on the amount of rent by adhering to a formula devised by the judicial government, local executive or legislative. According to that formula, the maximum annual rent for Delhi is a combination of 10% of the expense of property construction and market price of the land. Both these costs are dependent on the historical values ​​where current market valuation is not taken into account. Therefore, with old properties you can expect smaller rent, whereas new properties can give profitable margins to the landlord. The rent can also be increased marginally by including the cost of renovating a property.

Responsibilities Both Tenant and Landlord Should Share

A responsible tenant should pay off the rent and other rental bills associated, within the mentioned time period in accordance of the agreement. If by any chance, the tenant fails to pay the rent within the mentioned time period, the tenant in Delhi is subjected to pay simple interest at the rate of 15 per cent per annum. The rate of interest should be calculated from the due date of the rent to the period it was paid off.

Similarly, there are also some responsibilities the landlord should share. The Property Dealers in Dwarka , New Delhi should provide a rent receipt as a proof of the paid rent to the tenant. If a landlord fails to provide a rent receipt, the tenant has the right to complain to the consumer court. In such …