first time buyer - where to buy?

[Chantel]

Hi,

I am about to venture on my first overseas property however am getting overwhelmed at 'where'? I am hoping for a short term investment to built some equity. That or a long-term rental with somewhere that's likely to guarantee rental which will pay for the mortgage. Can anyone assist in pointing me in the right direction? The most I read the more confused I get

Places I have been reading about is Albania, Calabria, and Prague. Help greatly appreciated.

Chantel

 

[propertastic]

From the suggestions that you made, my comments would be as follows:

Albania - too early at the moment - I think that it will be a couple of years before prices really start to take off as the infrastructure is just not there yet.

Calabria - no advice to give you as this is not a market we cover.

Prague - It would be a very safe investment, but not one that is going to increase your capital so much as prices are already high.

My personal tip would be Bratislava as I believe that it still has an enormous amount of growth and is also a very safe investment.

You can read my reasons for tipping it at:

Propertastic! International Property & Real Estate: Property and the Schengen Effect

Slovakia Property Investment: Buy Slovakia Real Estate Resources

 

[jdmat1]

Where to Invest - our thoughts

Hi Chantel

It depends alot on your budgets, your goals and your attitude to risk. However, here's my thoughts;

Morocco - if you look at Morocco, for a first time investment - ensure you have a good solid rental guarantee. Avoid large developments with 1000's of units. You need to remember that at any time 10% of your competitors will be looking to rent or sell at the same time as you. Really like Morocco - but choose your location and development carefully.

Silver Coast/ Eastern Algarve - Great capital growth opportunities here in an established EU country. These 2 areas are attracting plenty of interest now as more and more investment take place with new golf courses and new hotels springing up.

Istanbul - big local housing shortage and introduction of mortgage finance makes this a good cheap entry deal.

I agree with Propertastic - Albania is a good long term bet - but not for a first time investor

For details of all our investment oppoortunities - please visit Specialists in the sale of discounted off-plan worldwide properties for investment purposes » IQ Property Investments Limited » Welcome where you can download free Country Guides

Good luck and feel free to contact us if you need any help

Jeff
[email protected]

 

[awahee123]

I think you should look a little bit further afield,Turkey and North Africa are providing some ideal investment opportunities with good returns at the moment.You will also find with good all year round sun it might be a more favourable investment.

 

[Chantel]

Hi propertastic,

Thank you for the information on Slovakia. I read the articles and was curious if Bratislava did see that rate of property growth/success in 2007? Would it be recommended that new builds, off plan are the best bet in terms of long term rentals to the locals?

Thanks

Chantel

 

[propertastic]

Hi Chantal,

Yes, Bratislava did see very good growth during 2007 - 20% is one figure that I read.

It wasn't as crazy as Bucharest, but that to me has all the signs of burning out after a few years if it carries on growing at that rate.

Bratislava's growth seems slow but sure (as is the case with their economy).

Yes, new build offplan developments are always going to be attractive because the housing stock in Bratislava - as is the case throughout Eastern Europe - is very poor. Anyone with a bit of cash is going to want to live somewhere with all mod cons.

So I still stand by everything I said last year about the market. It's maybe not such a 'sexy' destination for investment as a resort or Prague/Budapest, but that just means less competition from those who invest with their hearts rather than their heads.

Hi propertastic,

Thank you for the information on Slovakia. I read the articles and was curious if Bratislava did see that rate of property growth/success in 2007? Would it be recommended that new builds, off plan are the best bet in terms of long term rentals to the locals?

Thanks

Chantel

 

[little-red]

I'm a first timer too!


I agree, its so overwhelming...

I am in my mid thirties and have lived outside the UK for 8 years. I have no pension planned yet, so I am planning that property will be my pension in 20 years or so....

As this will be my first international purchase, I want to be helped and sort of have my hand held along the way, therefore have been looking at off plan / pre construction, as my maiden purchase. I also realise this makes me very easy prey, so I am terrified, and close to deciding to stick my money under the mattress!!

I am sure I will become bolder with more experience, but can I ask if you have some good practical advice, can you recommend any reputable companies which you ahve used yourselves, and in terms of where you are putting your money for the next couple of years?

Any advice is welcome!

Thanks...

 

[martinm]

I agree, its so overwhelming...

I am in my mid thirties and have lived outside the UK for 8 years. I have no pension planned yet, so I am planning that property will be my pension in 20 years or so....

As this will be my first international purchase, I want to be helped and sort of have my hand held along the way, therefore have been looking at off plan / pre construction, as my maiden purchase. I also realise this makes me very easy prey, so I am terrified, and close to deciding to stick my money under the mattress!!

I am sure I will become bolder with more experience, but can I ask if you have some good practical advice, can you recommend any reputable companies which you ahve used yourselves, and in terms of where you are putting your money for the next couple of years?

Any advice is welcome!

Thanks...

hi, i thinkyou should look in to dubai as your money will be put in to an ascrow account an will be safe if you buy off plan as i have done see my tread called sportyscity anyone in the dubai forum.

 

[little-red]

hi, i thinkyou should look in to dubai as your money will be put in to an ascrow account an will be safe if you buy off plan as i have done see my tread called sportyscity anyone in the dubai forum.

Thanks, but actually I live in Dubai, and am not planning to buy here for many reasons, but mostly as the real estate laws governing foreign owndership are still not fully developed, but if you have investment money to play with and can take a higher risk, then I believe this is the right place for you as growth is very good....

Personally, I am looking to buy in an area where the laws are more mature, but the opportunities are good too... maybe I'm searching for something that doesn't exsit....!!

Whats your opinions on:

1. Germany
2. Brazil
3. Albania
4. India

Thanks,

 

[Paul]

Hi,

In general we are concentrating on the following:

Spain - Murcia and Andalucia.
Cyprus - South East
Germany - Major cities
US - Florida
Turkey

I'll get you some more specific info when I get chance.

Be brave! (but wise!)

 

[Paul]

Just read, according to the National Association of Estate Agents (NAEA),the number of Britons interested in buying investment property overseas is still increasing, quoting an 8.2 per cent rise in overseas property transactions in the final quarter of 2007 compared with the equivalent time in 2006. They highlight Spain (the costas) and Florida in particular...

 

[geester]

Prague is a safe bet.

But have you thought of the US market, seeing that its taking a battering at the moment

 

[excelram9000]

R. Ganesan, Chennai, India

Hi,

I am about to venture on my first overseas property however am getting overwhelmed at 'where'? I am hoping for a short term investment to built some equity. That or a long-term rental with somewhere that's likely to guarantee rental which will pay for the mortgage. Can anyone assist in pointing me in the right direction? The most I read the more confused I get

Places I have been reading about is Albania, Calabria, and Prague. Help greatly appreciated.

Chantel

Dear Chantel, I am interested in your news, i saw lot of replies that have come to your questions, I am from India, do you interested in investing in Indian soil, i can suggest some pleaces and if you are interested you ;can make a visit and assess with the help of the guide ascertain from the offices the facts satisfy yourself and then go for an investment. I can be a trusted helpful guide if you are interested please call me 91 44 42659340 with regards. R. GANESAN

 

[realestatemart]

Dear Chantel,
interested in your news, i saw lot of replies that have come to your questions, may be you should take a look on red sea Hurghada or Sharm El Sheikh its safe, and return on investment is guranteed

 

[Olly]

Hi

Anyone wanting a guide with absolutely no committment or sales pitch, I will willingly help you on your way. Please understand I am a Licensed Realtor & International Property Specialist trained and qualified to help. That said, I would select and introduce you to other 'qualified professionals' in each location for you to move forward at whatever pace you desire.

One thing I can promise is, you won't fall foul of the 'marketeers' who claim expert knowledge of 30 or more countries & locations and who operate on the internet from a spare room.

All my contacts are 'local' within the target countries and and provide both fiduciary & legal responsibility to their clients. Equally, I can show you how to save and make money from real property based upon real experience and training.

Olly

 

[Damian George]

Buy in Spain - Murcia and Andalucia - safe and mature markets

never invest money though you cant afford to lose!!! is a goldern rule.

Murcia would be the cheaper option of the 2. and polaris would be my first point of call as there is a good rental and resellers market.

also remember that property overseas is expensive as the ongoing costs can add up quickly. I am constantly topping up funds on my two places as the rent although supposed to doesnt quite cover the bills

 

[Investy]

Damien, the rental yields on Polaris world tend to be very low.

I was looking at a 3 bed villa on the new sports complex (Alhama) and the lowest stirling price for an ongolf villa was £445,000 inc Taxes. The nearest beach is a good 20 minute drive.

For £170000 I got the same size ongolf villa but much more luxurious and contemprary (PW is all a bit M & S faux luxury),with three onsite 18* courses, 11 5* hotels (imagine the free marketing that will generate for the development),the Meds largest marina (70% built),500 onsite luxury shops (compared to about 20 on PW),and its own 7km beach ONSITE.
The development is about 60km from Almeria accross the sea in Morocco - ebd users will not expect to pay less for an experience like Saidia will offer than they would PW, so the rent yield will be a lot more lucrative.

Not only that but the Moroccan Royal mega developments were designed with a core objective in mind since they began planning in 1999 (now that what I call thorough planning); The core objective is to make the mega developments YEAR ROUND. They aim to do this by providing something like 5 x more sports and leisure facilities onsite compared to anything in Portugal or Spain (imagine the cost of an on golf villa in Spain with 7km beach and biggest marina in the Med capable of taking the very largest private boats).

Some people have a reality tunnel hooked into the past, so they cant imagine Morocco as a funky cutting edge high class destination. The same people would have said this about Dubai 20 years ago.

 

[Investy]

. I am constantly topping up funds on my two places as the rent although supposed to doesnt quite cover the bills

Wow, I just re read this bit!

This is not an investment. An investment should yield a lot more than the costs of ownership. Even if you get captial growth, time you take off the Tax, the buying and selling costs, the cost of interest for any UK or Spannish borrowing that was required, the costs of lost interest on any cash you had to introduce, the sums surely make this a non investment.

This is a real revelation to me and the key reason I felt Spannish investment just does'nt add up now.

 

[Damian George]

agreed, but i have also had capital growth of roughly 10% per year to upset this. Equity release is the next option.

also Investy i was saying for a first investment Spain is a good choice, Morocco and Dubai look much better in the shorter term but present a lot more risk for a newbie.

Personally i like the idea of buying a bargin in a mature market not taking on loads of risk.

(Saying that it is very difficult to buy in spain as the exchange rate has fallen from 1.4800 to 1.3000 or in other words Spain is now 12% more expensive)

 

[Craig Mahoney]

Hi,

I am about to venture on my first overseas property however am getting overwhelmed at 'where'? I am hoping for a short term investment to built some equity. That or a long-term rental with somewhere that's likely to guarantee rental which will pay for the mortgage. Can anyone assist in pointing me in the right direction? The most I read the more confused I get

Places I have been reading about is Albania, Calabria, and Prague. Help greatly appreciated.

Chantel

Hi my name is Craig Mahoney a property consultant for an established international property professionals Barrasford and Bird Worldwide.

In reply to your question, I understand how confusing it can be when looking into an investment with so many things to take into consideration, we have properties in Albania, Calabria and have some fantastic properties in Greece. all with guaranteed rental incomes, no capital gains tax etc.

We can organise viewing trips and brochures at request, you can call or email me to talk about it further.

Regards
Craig Mahoney