Where To Invest In Foreign Property
With the precarious UK property market in the unstable way it currently is, many investors are looking for foreign property to either invest in or as a bolt hole to get away from it all in the UK.
For those looking for a fairly exotic location and who have money to burn, foreign property in the Middle East is becoming popular. Abu Dhabi and Asian cities have seen an influx of investors of late and this is pushing up house prices.
If this is a little to extravagant for your requirements, consider buying a foreign property in Florida. The pound is strong in US markets at the moment but if you’re looking for a property that isn’t likely to be surrounded by British investors, you could do worse than buy a foreign property on the beautiful islands of Mauritius or Monte Negro.
Given the location, these properties are perfect for letting out as holiday homes and when you’ve really had enough of the depressing British weather, why not emigrate and see out your days lazing on white sandy beaches with a turquoise ocean lapping at your toes?
Mainland Spain has had its fill of British investors but islands off the coast are still promising hot spots for those wishing to invest in foreign property. Tenerife and Mallorca are among the current favourites.
Changes in inheritance tax laws mean that France is more popular than ever for property investors. A property price rise of 8% is predicted for 2008 because of this so the sooner you get in the better. House prices in France are still reasonable and it is an easily and speedily accessible area.
For Caribbean foreign property investors, Grenada is the upcoming investment hot spot. The fact that Grenada is undeveloped in comparison to other islands just adds to its appeal making it the perfect getaway.
With an investment in Grenada now, you could be looking at a 25% profit over the next few years. If you’re looking to let the property out, bill it as the ideal location for water sport enthusiasts. Skiing, surfing, sailing and diving are all popular pastimes that Grenadans.
Turkey has been a bit of a difficult area for foreign property investors but this is due to be addressed this year. Mortgages will be more accessible as will the country itself. With the clampdown that is due on UK second homes, this is the ideal place for that second property.
For sure stability and excellent quality of life, try investing in property in Canada. This is a less densely populated country and ideal for those with a love of snow-boarding or skiing - this itself also providing a perfect reason for letting our during peak season.
Though not the first place you’d consider investing your money, Albania is certainly worth a look. The Italians have already caught on to this market and political stability has made investors feel a little more secure.
Beach front apartments in South Africa, overlooking the Indian Ocean are going for a song right now and South Africa promises to see foreign investors flooding in over the next year or two.
It would seem the world is opening up to foreign investors. All that is needed is some thorough research, some spare dollars and some brave decisions.
Property expert Catherine Harvey looks at the foreign property investment market. To find out more please visit http://www.property-venture.com/
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