Buying overseas property

[harsh]

Hi,

I am Interested in a buy a Buying overseas property.

 

[rowlandsbb]

Are you buying as an investor or life style buyer...or a bit of both

As an investor/ dealer then unless you are experienced then it is a touch difficult..you need to get to know your market and then look for the good deals in the best locations and as you would expect the local dealers often pick up the best!!!.....same as in UK

Off plan is dead in the water [ concrete] as there is now no benefit from buying early on in the development cycle as property prices are unliley to increase by the time it is finished and certainly not enough to warrant the risk

Guaranteed rentals have always been a marketing tool and built in to the price and even more so today!

Lots of good deals from developers wanting to off load finished stock where in Spain discounts on asking prices are circa 25%-eg a ready now 3 bed quad in nice development was 189.000 € now asking price 140.000 €

Or distressed sales -eg owner paid 185.000 € for an attractice 2 bed duplex with solarium a few years ago has to sell to repay mortgage so will take 130.000 €
Similar deals on all price ranges and Polaris World re sales


So you would be buying at or near the bottom of the property cycle and when the world markets come back it will be the known established economic locations which will be popular....as before Spain and France

The so called emerging markets with either poor economies, poor regulation or just a different culture will be high risk and last to recover, if at all for some time......well that is if property economic history repeats itself

Now there is an over supply in Spain which will take some time to be sold on but if you keep to basics and buy close to beach and close to golf courses and pay the right price , then it should turn out to be a good deal medium term.....as always front line is best!

Great time for life style buyers who's agenda is not just investment and even with the exchange rate will find that they get a much better property than they ever thought possible ,whatever their budget

Good time for experienced dealers with cash or finance but a bit risky for first timers!

 

[essepi74]

mmm...

What about Calabria, South of Italy?

 

[terrifishpie]

Have you thought about Mauritius?

If you're thinking of investing in overseas property don't exclude Mauritius from your research. According to many articles I've read it's a property hotspot!

Take look at Emerald Heights (google Emerald Heights Mauritius) a new luxury property devolopment.

Until recently, residential investors from overseas were barred by law. However the downturn of industries such as sugar cane, the traditional backbone of the local economy, has caused a change of heart.

There are a number of schemes and circumstances under which foreigners may acquire property in Mauritius these include but are not limited to:

•The spouse having Mauritian nationality
•For business purposes under the Business Facilitation Act
•Under the Non Citizen Property Restriction Act
•With a Residence Permit for Retired non-citizens
•The Real Estate Scheme
•Integrated Resort Scheme (IRS)

If you are thinking of buying a property in Mauritius see the property types at the Emerald Heights development on the website.

 

[clarenash]

First things first have you decided where you would like to invest? If so, have you been on a trip out there - checked out the local area and made sure it is for you?

Then I would suggest hiring an agent you hear of so many people being misguided on buying property abroad it is good to know that you are getting good advice. Visit a solicitor in the country and try and get a grip on how the law works for buying property in that country.

 

[Zero Avenue]

Be Very Vigilant & Careful...

... Before you put pen to paper in signing that reservation agreement to a property/ies.

& make sure you gain legal advice before you go invest into a new property project venture.

 

[Zero Avenue]

<Our Experience of Buying Property in the U.A.E>

...We have currently been stabbed in the back by GSS Real Estate, who apparently used to have a sound & trustworthy track record.
You may visit their site and witness this perception.

YET - as we were to learn, do not necessarily believe this fact about any real estate company. It doesn't mean it's true for all times - as climates do change in the world of property investing - as we have seen in Dubai & Ajman now.

Shockingly as a result, many projects are now being cancelled and companies are backing out of original plans to build towers!

Yes, even AFTER we signed the agreement, and even AFTER the 5th payment - we were not issued with any official contract as binding in their promise - GSS Real Estate Holdings have still not to this day, answered to any reasons why the following have been delayed:-

-Issuing of Contracts
-Registration with ARRA
-Opening of ESCROW account
-Start of Construction

None of these have taken place, and we are as a result having to join forces together with all the investors of this one particular tower - in Emirates Lakes Towers Ajman: Project 5th Avenue - and fight in a legal case against GSS Real Estate to either issue the contracts and start official construction; or if project is to be cancelled, to be reimbursed with full refund of monies owed.

Now trust me, after reading this be very careful now what you sign into, as you may be giving away thousands of your hard-earned cash, for imaginary castles in the sky.

I pray things will improve in the U.A.E property market very soon...!

I hope this helps anyone, in buying property overseas in the U.A.E in this current climate.

E & F.

 

[Zero Avenue]

<Successful Property Investment Experiences>

Does anyone have any sound property investment experiences, any where else overseas, in this current gloabl economic climate?

E & F.

 

[gornanalb84]

Hello Friend..
Overseas property investment has always been popular with astute investors with many markets to choose from the rest of the world.Real estate investment involves the commitment of funds to property with an aim to generate income through rental or lease and to achieve capital appreciation.
_______________________________
Montgomery County Real Estate

 

[Albatross Villas]

It is vitally important that you pay your chosen area a visit to ensure that you get the right feel for the place. It can be all too easy to get wrapped up in 'dreamland' marketing copy online.

If you are looking for an area of unspoilt charm and tradition Portugal's Silver Coast region is yet to be discovered by the mass tourism industry and remains typically Portuguese.

 

[JamesRoberts]

First thing to establish might be what you want to achieve. If it is lifestyle and personal use, then that is really a matter of taste and preference. On the other hand, if it is pure investment you are after, then a number of things should be considered.

Is your investment purely capital gain? or are you looking for rental income?
Is rental income needed to cover mortgage payments?
If renting, are you looking to do it long term? holiday lets?
Will you/can you manage the renting yourself?
If you need a mortgage, are they available in the region?
If you take a mortgage, will the lender allow you to let the property?

This of course is just a generic start to the overall process, once you know where you are going to buy, you can get down to the regional and legal specifics. When you do, have your own lawyer do some due diligence too, don't rely just on the agent/vendor paperwork.