16 January 2013

Interested in property? The answer is abroad!

Eurozone unrest and Britain’s sterling strength has brought about great opportunities for British investors interested in buying abroad.  With the UK’s market stifling would-be investors, it’s no wonder that many of us are looking for fair investments. So where are people buying?

Spain remains at the top of the list for Brits looking for property abroad.  One of the reasons behind the massive influx of UK money is the fact that repossessed property prices fell by 65% in 2012 due to economic uncertainty. However, if you are planning on buying a repossessed property, be aware that the procedure is long and complicated, not to mention you would have to hire experts to assess the property for damage. 

France is known for holding record low interest rates and while the recent tax hikes may appear threatening, the decision has not affected the property market as a whole.  Tim Brown, the head of international sales at Chesterton Humberts, said "Out of our entire international network, France was our big seller last year ." The weakness of the Euro also means that the British Pound goes a long way in terms of investment.

Great food, great wine, great weather and beaches… what’s not to love? The stoic economy has meant that sellers have begun lowering their asking prices and Italy has not seen the overdevelopment that France and Spain have. Mortgages are usually capped at 70% of the purchase price and agents can ask for 3% along with the purchase tax, which can be a full 10%.

Rife with foreclosures and fantastic weather, this state is on an upward trend.  Condominiums average at $107.000 and with a strong rental market, it’s clear to see why investors are flocking to the sun drenched state.


  1. Anonymous11:51 PM

    It's great if you have a property at the tourists spots. You'll have Holiday Letting Agents help you rent out your property easily.

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