Spanish Villas Versus A Moorish Riad
The housing market in the UK is in a very precarious position right now. This is putting off many investors and they are choosing to put their money into foreign property instead.
Trends in foreign property investment come and go and the long standing villa in Spain is moving over for those looking for something a little less ordinary. Spain has been favoured by the British for many years because of its ‘Englishness’, which defeats the object a little. With its chip shops, bars and ex pat community many consider this a mini Britain but with a better climate.
Property prices in Spain were relatively cheap and building developments sprung up everywhere. Nowadays, investors are stretching their imagination and looking to further climes to sink their money.
One of the hotspots of foreign property opening up right now is Brazil. Farms in Brazil that produce cotton, soya beans, corn and sunflowers are currently being snapped up for $500 US per acre. This is an absolute bargain in a beautifully hot country full of culture.
Another place rich in culture and ripe for investment is Marrakesh. Think more than mosques, souks and carpets. Think small Riad - a traditional Moorish house for $400,000. This may seem a little pricey now but foreign property here has risen by 50% in the last two years and this steep climb looks set to continue so snap one up now.
House prices in Australia have seen the same difficulties as the UK market and its instability is not expected to recover any time soon. However, if you can afford to hang on to your investment in foreign property and are not looking for a quick turn over then Australia could prove a wise choice in the long run.
The same is true of Germany. Bargains are still to be snapped up but for those less impatient investors, the economy is showing good signs of recovery and you could soon be making a profit on your foreign property.
One place you will find difficult to invest in is parts of China. The Shanghai government have imposed restrictions on foreign property investors because, they say, their own families who are on low incomes are suffering due to lack of available property.
For the truly wealthy who are looking for somewhere a little different to invest in, try Megeve. At the foot of Mont Blanc, this little village is very popular amongst the rich and famous. Top celebrities such as Elle MacPhearson, Naomi Campbell and Hugh Grant as well as the Swedish royal family can be seen here on a regular basis.
Do not expect this investment to come cheap, though. Three bedroom chalets start at $5 US million and a one bedroom apartment could set you back a whopping $900,000. Having said that, if you can afford one of these places that you would be happy to let out for the best part of the year, the area has an excellent rental market with one bedroom places going for $2,500 per week! This is one area of the world that has not suffered a recession in the housing market and prices have continued to grow since 2000 at a rate of 20% per year!
Foreign property is a good investment but it pays to do your homework. Don’t just settle for the typical Spanish villa - it’s a big world out there and so many opportunities for those that can afford it.
Property expert Catherine Harvey looks at the plethora of foreign property in unusual locations. To find out more please visit http://www.property-venture.com/
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