18 November 2005

Property lures buyers

Charming Tuscan villas lure with views of lush olive groves and ancient hill towns. Beachfront retreats in the Caribbean call like modern sirens. While travelling abroad, who among us hasn't been tempted to splurge on an exotic vacation home?

But international real estate is more than an impulse buy – or, it should be if you're smart.

Along with the appeal of owning a second (or third, or fourth) home, there are pragmatic reasons for buying abroad. It can be a way to diversify an investment portfolio or provide rental income. Buy in Dubai, and you automatically receive a visa that permits you to do business there. Some international purchases made a decade ago would be considered very wise today.

More here.