The Right Time To Buy
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The first few months of 2008 haven't held particularly good news for property investors in the UK.
With residential property prices at an all time high, now isn't the best time to be buying a buy to let in the UK.
Meanwhile, the UK commercial property market, which always looked like such a great opportunity for many investors, is now having problems too.
Despite this, property remains the best investment money can buy, just perhaps not in the UK right now!
There are many opportunities for buying an investment property abroad, however, you do need to be careful when considering this.
It's easy to get pulled along by all the hype you hear about this place or that place, but usually the people spreading the hype are the agents who are selling there, and they're bound to say it's great!
There are a number of key points that you should bear in mind when considering an investment property abroad…
Just because the location is a great tourist destination, doesn't mean you're getting a good investment – prices are usually much higher in these places and hence the locals can't afford to buy. When you want to sell, your buying market will be that much smaller.
Just because somewhere's getting loads of publicity, doesn't necessarily mean it's got great potential as an investment property abroad – Cape Verde is a prime example of this.
And just because there's loads of development going on and properties have risen by x over the last year, doesn't necessarily mean it's going to be a hit – what's important is that the economy of the country is stable, and preferably growing. Take Bulgaria as a good example of this.
The main advice I can offer you is to be careful! If you're not sure about an investment property abroad, walk away, don't feel pressurized into buying something you're not 100% sure about.
Make sure you read my Overseas page, for further information on what to look for when buying an investment property abroad and remember, please do Contact Me with your questions, because I'm here to help!
Return from Investment Property Abroad to Overseas
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