02 July 2007

UK bank lends advice to overseas investors

The HSBC bank is advising overseas property investors to be vigilant during their first purchases abroad. Differences in legislation are the main cause for headaches when purchasing a property overseas so it is advisable to get sound legal advice.

The British bank also highlighted a small drop in overall sales for overseas properties, with more people investing in retirement homes in Spain and France. This view has also been confirmed by Barclays Investment and highlights a trend that is set to grow in forthcoming years.

Don't forget that the power of the pound £ over the Euro is making things easier for UK residents but for how long is this likely to be the case noone knows.
In addition as foreign countries develop the price of properties is set to increase. Will Britons be able to buy with such ease in 10 years?

Might be a case of simply wait and see.