US property investors are increasingly being stung by unscrupulous ‘qualified intermediaries’ who run off with their cash, it has been revealed.

The Denver Post reports around 350 US property investors have fallen foul of the problem while deferring capital-gains taxes on investment property sales.

The 1031 tax code lets owners defer capital-gains taxes on the sale of their investment properties, and says they have to buy a property similar to the one they sold within 180 days.

However, in the meantime, the cash has to be held by a third party or qualified intermediary.

The post reports some intermediaries have been making off with the money entrusted to them, costing investors across the US a total of $132 million in the last year.

Quoted by the paper, Joel Judd, D-Denver, chairman of the House Finance Committee, said:

“The federal government has set up this system where folks are required to hand money to people they don’t know. Of course, we’re all shocked and amazed when the money disappears.”

Taxpayers must use intermediaries, rather than a separate account to store the cash, as IRS regulations say the taxpayer may not receive the proceeds any way in order to qualify the 1031 exchange.

Barratt Homes is marketing a riverside development as a top UK buy-to-let opportunity after it began to prove a hit with property investors.

The firm said its Riverside Plaza project in Maidstone was attracting buyers with an eye on the long-term market.

Professional property investor Sue Hainsby and her husband bought a two-bedroomed apartment in the development and remain “undeterred” by the current difficulties in the UK property market.

Mrs Hainsby said:

“We choose properties to invest in very carefully and we don’t believe the buy-to-let market will be affected in the long-term.

“Riverside developments are always in demand, and the quality of the homes, together with a great location close to the town centre and station, tick the boxes for a good investment property.”

Riverside Plaza is located on the banks of the River Medway, a short walk from Maidstone.

Remaining one-bedroom apartments in the scheme are priced from £129,995 and two-bedroom apartments from £169,995.

A study from Bradford and Bingley recently found 90 per cent of property investors, four per cent more than last year, remain confident in their portfolios despite the current house price slump.

Indian real estate investment opportunities are to be on show at an Oman event open to the general public.

Oman International Trade and Exhibitions is running the exhibition at the Salalah Municipality Fair Ground, Salalah, and showcasing the Indian market to international property investors.

Today’s show will feature ongoing projects in Bangalore and Ooty from Pathy Housing.

Pathy, based in Bangalore, has already completed 25 real estate projects and sold them on to 2,500 clients around the world. It’s Oman arm, Termah LLC is overseeing today’s event.

Tony Gotino, general manager of Termah, said: “The company’s layouts are well planned and are in prime localities near the IT hub in Bangalore.”

Opportunities on show include the Pentagon City, Sky City and Ketti Homes project in Ooty.

The Sky City project is close to the electronic city project in Bangalore, set in 60 acres, and is a fully developed residential layout with plots ranging from 1,200 sq ft to 3,000 sq ft.

Ketti Homes is based at Coonoor, the second-largest hill station in the Nilgiris near Ooty, surrounded by tea plantations.

Residents will get easy access to the hills and Sim’s park, a natural area with stunning lake and mountain views.