Umm Al Quwain Marina

With plans now complete, work on a new Marina, which will transform the emirate and property market, is set to begin shortly.

The $3.3bn Umm Al Quwain Marina is planned to cover more than 1,488 acres and is scheduled for completion within seven years.

Umm Al Quwain Deputy Ruler Shaikh Abdullah said: "Umm Al Quwain has great potential to be a major player in the property market. It is with the support of developers like Emaar that the emirate can take advantage of its natural attributes and create world class destinations like Umm Al Quwain Marina."

The masterplan blueprint would see 2,600 residential villas and 6,500 apartments - the vast majority either waterfront or beach front created on the site.

Insurance is the best policy.

Government figures show that more than 150,000 British people now own second homes abroad. Spain is the most popular destination with about 70,000 homes, followed by France with about 50,000. However many investors are failing to take out the appropriate insurance.

Richard Bowser, editor of Property Investor News says, "Failing to get the right insurance cover is just one of the many mistakes that amateur investors make. Unfortunately, common sense often goes out of the window with the first glass of foreign beer."

It may be a good idea to arrange a local insurance policy, because they have more information on the risk of storms, floods, earthquakes and landslides locally. Furthermore local premiums can prove lower than if obtained in the UK.

Price threshold raised in Malta.

The Maltese Ministry of Finance has changed the law governing the purchase of property in Malta by non-Maltese nationals.

As things now stand apartments and maisonettes may not be purchased for less than approximately £54,000 (dependant upon the exchange rate), and houses and villas may not be less be bought for under approximately £91,000.

The move has been made to protect the interests of local residents on what is a relatively small country, in which the supply of property is limited.

However, EU Citizens who intend on moving to Malta on a permanent basis are exempt from these thresholds.