Assetz® News » HOME | RSS Feed FEED | LIST ALL ARTICLES | ASSETZ HOMEPAGE
Investment Property News from Assetz

Assetz® Property News Service

Overseas property changes tack

1st September 2008 | back to article listings BACK    print this article PRINT

To many doom-mongers, the overseas property investment scene and Britain's property scene are both one and the same - once good news stories that have now turned bad since the credit crunch hit, leading to nothing but trouble, losses and broken dreams.

Others, however, will state that this is far from the reality. For instance, Exchange Bond reported in April that British and Irish investors own 3.81 million overseas properties overseas. Moreover, it tipped this total to rise by between eight and ten per cent. Clearly, it seems, someone out there is still finding good reasons to buy.

The truth about the market is more subtle than just boom or bust, according to the chief executive officer of Homesgofast.com Nicholas Marr. He noted that the crunch has seen some markets - such as Spain - doing particularly badly but also suggested that slowdown does not mean shutdown.

Speaking of the lack of confidence and consequent fall in buyer numbers, he commented: "This combination is slowing our industry down but it’s far from a grinding halt and in fact, for some things, it could not be better."

These people are those investors who have enough money to avoid one credit crunch consequence while picking up bargains, he explained: "Those buyers who are in the fortunate position not to require high loan to value finance are now reaping the rewards; they have the power."

The outcome, he stated, is that: "Buyers are still there and that they are picking and choosing the best products for them. For investors, these tend to be developments that offer low deposits and guaranteed returns."

For these, therefore, as well as sellers and the property professionals, the key is value for money, Mr Marr concluded.

For those looking to invest, therefore, it seems the key is not to put things on hold until the stormclouds drift away and the sun shines again, but to seek the best deals that are still out there. Advising those who are currently doing this on how to go about it, Citywire has this week stated that there are plenty of good places to go, with Cyprus in particular offering competitive prices.

As ever, advice is the key, Citywire suggests, pinpointing taxation as one major issue that buyers need to know about, since various different taxes are levied on property in different countries, including inheritance tax. Moreover, these are not all the same as each other or the UK arrangements.

So with buyers being advised on the one hand to beware tax and legal pitfalls and on the other experts noting that those doing well are being very choosy as to where they invest, the message should be clear that those looking to buy abroad still have plenty of opportunities, but need to equip themselves with every but of expertise they can call on to help them make a success of it.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/4354.html. Alternatively, please see our full press release archive.

Assetz® is a UK and International Property Investment Specialist. Please visit our property sites shown below.

Assetz for Investors UK Assetz Hotels Assetz Homes Assetz International Assetz France Assetz Spain Assetz Cyprus Assetz Germany Assetz Portugal Assetz Ski Assetz Cape Verde Assetz USA Assetz Finance Assetz Fund Management

Accessing the news service

You can view all of the Assetz® UK, International and UK Property Investment Articles and News here.

We also provide an RSS Feed Feed of the news service, or you can view all articles. Click here to view more information on RSS readers and how they make reading online news more convenient.

eXTReMe Tracker