buying property abroad

mad_jacqui

we are thinking of making some investments, with very little capital outlay, in property other than this country. We are looking at the new areas to tourism, its a big step on the plan to have a nice retirement sum/ income. any suggestions or pitfalls we should look for?

LilacLillie

Pitfalls: ........................................................ TAXI DRIVERS!!!!!! The world over!
LL

Robin00

... in Cyprus (as elsewhere) you can buy a property off-plan (new build), pay just the deposit (typically 10-30%) and sell the property before it is built, without any further capital outlay. https://www.internationalpropertyfinders.co.uk (I think) are one company that do this that I know of, but I'm sure there are many others...

Robin00

sorry, https://www.international-property-finders.com

gallygirl

We've just purchased an off-plan apartment on the Costa Almeria - 30% now, rest on completion, in around 14 months. Not cheap, and highest price increases may be over but we're happy with our buy.
We went on an inspection trip with Parador - with much trepidation, afraid of hard sell. However there was none at all, we were shown lots of properties but not even asked if we wanted to buy, let alone bullied into it. If you decide to have a look at Costa Almeria pm me and I'll give you our reps name, he was excellent.

If you've got a strong nerve may also be worh looking at Egypt - red sea resorts. V v cheap, we are going to look into it with possibility of lets for diving holidays. Search on google & it brings up loads. Have read up a little bit - the recent bombs had no affect on tourism, sadly we're becoming immune to them.

Good luck!

Oaktrees

We are planning to go house hunting in Portugal in January with a company called MacAnthony Realty International (already have an old farmhouse in France) to see a new build. Has anyone gone through a sale with this company and are they as good as they seem?

Conrad

I did masses of research starting 3 years ago. I even visited Great Exuma in the Bahamas.

The biggest worry for me is getting ripped - off. Many people have been conned but dont know about it for years to come.

Spain is over - priced. My friend bought off - plan 2 years ago, and now (despite promises) cant achive anything like the price he paid.

The point about investing is not to follow herds. Ive personally gone for Germany as I am confident they are due a property boom (the rest of Europe has had one). Its safe and secure and cheap. Ive heard of people buying large houses near the Czech border for under £40000. Land or appartments can be a lot cheaper. Flights easy (less than 2 hours to Berlin).
Germany is England 1991.

Another place to consider is Morocco near Casablanca.

Slovakia well worth a look, honest people and bargains in touristic areas. The capital has already had a boom.

Turkey - like Bulgaria and Croatia is now a bit 'yesterdays news', so fast capital growth not likely.

Romania / Albania - too risky.

Hungary - definitely worth a look.

A freind has bought an appartment for £50000 in Kuala Lumpa (Malaysia). Its next to a golf course and is let year round by the on - site management company.

There is no right or wrong answer to this, but as a general rule I avoid places that have already experienced sharp captial growth.

My top - tip for buying abroad, use an expensive capital city lawyer. You pay more but the peace of mind is well worth it.

alihen

I am looking to buy a property abroad, most probably in Morocco, and was wondering if anybody had any words of warning or advice....... I'm hoping to go back over there sometime in the next couple of months to try and crack on with things and any advice would be v much appreciated!!

rozeepozee

There was a programme on buying in Morocco on Monday morning on BBC1. I was watching it in the gym whilst working out :j

I wonder if it's worth looking at the BBC website for further info?

monkeydust_2

looking to buy a place in Bratislava, Slovakia - as an investment. Going over this weekend to meet developers / bankers and hopefully start the process..

canny_yorkshireman_2

I dont think there is a pot of gold to be had anywhere abroad there are a lot of pitfalls with different countries and locations so its down to personal prefference and luck of the markets to achieve a high capital growth. The best advice is to try to get in touch with people that have bought abroad and can give you tips that they have picked up.we have just bought in the algarve so if anyone wants to contact me direct then feel free.