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Expats or second-home owners in Europe (Chicago Options: ^REURUSD - news) could see property values dramatically slashed if Greece was to exit the euro.

Greek properties would be the hardest hit with prices falling as much as 50 per cent, according to startling estimates made by foreign currency specialists HiFX . It has seen enquires from Britons looking to sell their European homes rise by almost 200 per cent since 2008.

Its (Euronext: ALITS.NX - news) research shows that 39 per cent of Britons are looking to sell up in Greece, 34 per cent in Spain and 23 per cent in Portugal.

Mark Bodega, marketing director at HiFX, said: "As many European governments tackle their deficits, second-home owners, especially those based overseas, have become easy targets for tax increases and as a result many are selling up and returning their assets to the UK."

James Price, head of international residential development at Knight Frank , said that many Britons had previously seen European properties as attractive short-term investments for their rental incomes. That has now changed.

"What people are looking at now is the security of their asset in the long term," he explained.

The Greeks go to the polls for the second time next month to decide who will take control of a government that needs to implement tough budget cuts if it is to remain a member of the eurozone.

While thousands of Britons are selling up and bringing money back into sterling, some brave investors are doing the opposite and buying euros, in the hope of picking up a European property on the cheap or renovating properties they already own.

Desirable locations are still the south of France, Tuscany and the Balearics for investors looking for a bargain.

Forex firm MoneyCorp says that while euro-to-sterling deals have doubled in the past month, it has also seen transactions the other way mushroom.

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Britons rush to sell European properties

JEDDAH, 23 April All eligible Pakistani nationals living in Saudi Arabia can cast their vote either through postal ballot or polling stations set up by the Embassy of Pakistan, Riyadh and the Consulate General of Pakistan in Jeddah on April 30.

Announcing this in a press release, the consulate said that the embassy would establish three polling stations and the consulate four other stations.

The locations in Riyadh are the embassy premises at Diplomatic Quarters and Pakistan International School, Nasaryiah, and at Saudi Arabian International School (Pakistan Section) in Al-Khobar. The locations under the consulate are at Pakistan International School (PIS), Main branch, Aziziah, Jeddah; PIS, Taif; Pakistan House, Makkah; and Pakistan House, Madinah.

The polling will commence at 9:00 a.m. and continue till 7:00 p.m. on the day. The ballot paper will be issued to each voter on production of original national identity card (NIC) or valid passport.

In the mean time, the postal ballot, marking procedure and special envelopes are being issued to all those applicants, who have applied to the embassy or consulate on the prescribed form till April 22. These marked postal ballots and a copy of NIC, as per the procedure, should be returned to the embassy or consulate by April 29.

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Polling booths for expats

THIS weeks National Cutting Horse Association (NCHA) Bayer Imax Gold Futurity might be the richest cutting horse event in the southern hemisphere and when it starts in Tamworths AELEC tomorrow will attract competitors from all over the world.

For one of those overseas trainers John Mitchell, an Australian living abroad, its also the chance to come home and compete in the most prestigious cutting event in Australia.

After winning the 1997 NCHA Open, Mitchell and his family moved to the United States however it hasnt stopped him returning to Tamworth for the Futurity every year since.

I always look forward to the Futurity and the chance to come home again, Mitchell said.

The Futurity is the biggest cutting event in Australia and if you win, its the most prestige that you can gain.

Mitchell also spoke of the excitement surrounding the Futurity.

Its the first show for two to three-year-old horses and therefore anything can happen. Its unpredictable and exciting.

The standard of the Futurity is extremely high.

When you take the top 20 horses out of the hundreds that enter, the events become very competitive, Mitchell said.

He also stressed the importance of Tamworths Australian Equine and Livestock Events Centre.

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Futurity lures expats back home

Weak rupee may bring cheer to NRIs, expats Windfall for those sending money from abroad to families in India, expats in India earning in dollars but spending in rupees Press Trust of India / New Delhi May 27, 2012, 14:23 IST

A sharp plunge in rupee value to near Rs 55-56 levels against the dollar may be bad news for the markets and the economy, but the currency's depreciation may bring cheer to some including, NRIs remitting money from abroad and expats drawing salaries in dollars.

Amid a fall in rupee and stock markets, concerns are rife about a slowdown in economic growth momentum. However, a weaker rupee could mean good news for the Non-Residential Indians (NRIs) and others remitting money from abroad to their families back in India, experts said.

The rupee has not only lost sheen against the US dollar but also against other currencies. One dollar gets a little over Rs 55 now, which is nearly 12.67 per cent more than what it did on March 1. Similarly, a British pound brings Rs 86.73, (up 10.62%), euro brings Rs 69.30 (up 5.83%) and Australian dollar Rs 54.02 (up 1.75%), a forex expert said.

India has one of the largest NRI diaspora in the world after China estimated to be around 30 million. According to World Bank data, India received remittance worth USD 64 billion in 2011 - the top recipient among developing nations.

Windfall gains could also be reaped by expats working in India with income in foreign currencies like the US dollar but incurring expenses in rupee, they added.

This is because in the short term, these employees are set to gain from a weaker rupee as they earn more rupees from their dollar-denominated salaries, an HR expert said. The rupee on Thursday hit a record low of Rs 56.38 against the US dollar. While some recovery was seen on Friday but the rupee remained above the 55-level. The rupee has slid by a whopping 13 per cent since March 1, while market barometer Sensex has tanked by nearly 8 per cent in this period. Besides, for those people who are planning a visit to India now, have a lot to cheer about as they will get good bargain for their home country currencies now. This translates to having more spending power in India as compared to other favourite destinations like Singapore and Thailand. Each US dollar now costs 1.28 Singapore Dollar, and 31.63 THB (Thai Bhat). Commodity analysts also say that a weaker rupee could also lead to a rise in gold prices, as investors tend to shift their focus away from riskier assets like stocks to the bullion market in such scenarios. If this scenario plays out, it could result in gains for the existing gold investors.

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Weak rupee may bring cheer to NRIs, expats

SINGAPORE - Expatriates in Singapore rank second in the world for income, with half earning over US$200,000 ($254,973) a year, a recent survey found.

The 2011 Expat Explorer Survey by HSBC also revealed that expat wealth remained widely immune to global economic troubles.

Expats in Singapore ranked top in Asia and third in the world for expat wealth and finances in areas such as earning levels, disposable income, spending, saving, investing patterns and the impact of the current global financial climate.

However, the survey also found that expats in Singapore faced higher cost of living such as accommodation, food and bringing up of children.

The survey sought the opinions of nearly 3,400 expats from over 100 countries across the globe on their experiences working and living overseas.

This year, for its 5th annual survey, HSBC is calling for expats to take part in its latest survey.

This year's survey will be focusing on emerging issues on how expats have fared after the global economic turmoil and social unrest faced in some countries, as well as tips and tricks on how to best live in a foreign country.

yamadak@sph.com.sg

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S'pore expats have second highest incomes globally