International Real Estate Congress - Amsterdam
July 8th, 2008
Recently I returned from the FIABCI International Congress for real estate developers and agents. This year the Congress was held in Amsterdam for four intense days of seminars, speakers, study groups, and networking.
This year the Dutch were our hosts with the appropriate theme of the Congress, “Water, risks, opportunities….”
The Dutch have to be the world’s experts on claiming land from water. In their European country, they have the densest population, so it behooves them to add to their nation in the only way possible: reclaim from the sea by creating polders, which become inlands upon which they can build their new cities to accommodate their growing population.
Reporting Rental Income on Mexican Properties
May 1st, 2008
The international accounting firm, Deloitte, recently gave a seminar to AMPI agents on the subject of renting Mexican properties and the reporting of income.
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For years, some owners of homes and condos in Mexico, both foreigner and national alike, have not reported their rental income. The law has become more formal over the years and the procedures the country has now to seek and find those not reporting income, has become more strict and encompassing. |
What property applies to the current law?
All properties which are rented and generate an income for their owners are income properties for the length of time they are rented. When the owners are occupying them personally, and not charging their guests, it is not rented.
Please read more »
New Real Estate Products in the Bay of Banderas
April 1st, 2008
Recently, I took clients north into the Nuevo Vallarta township, which has continued to grow commercially as well as residentially. The indoor shopping mall is continuing to add more stores as the number of residents and visitors increase each year. Nuevo Vallarta is often named as the one of the two most frequently requested destinations in all of Mexico.
Developed over 30 years ago by the Mexican government, NV failed to attract attention in the beginning because most governments do not know how to develop real estate like professional developers. Every lot was plotted and every curb and street was built. After while, grass grew in the streets and lots were unkempt and over grown. I remember getting lost looking for a notary office in 1997, and none the few people I saw knew where it was, much less where they were.
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With the arrival to two powerful developers, Nuevo Vallarta transformed. A big impetus to buyer interest was the creation of two good golf clubs with food and sport amenities. Condos were built around an improved marina and the place began to take off. I think it is fair to say that Nuevo Vallarta has come into its own and without it, Flamingos Beach developments would not have the success started by its older sister. |