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Invest in property abroad?
danster
Posts: 128 Forumite
Hi,
Im thinking of going halves with a partner on a house/flat abroad. Probably something that we could rent out (if we get the bookings). I dont have a property at all and cant afford to buy in this country, so it would be purely as an investment to try and earn me some profit over a few years which woudl hopefully put me in a better position to buy somewhere in this country.
Does anyone suggest what countries would be good for this? What things would I have to consider? Has anyone done this before and could offer advice?
Ive heard Cypress is quite good, although the Euro is being introduced over there, so noones sure whats going to happen to the market (their existing currency may weaken)
Many Thanks.
PS
I dont speak another language.
Im thinking of going halves with a partner on a house/flat abroad. Probably something that we could rent out (if we get the bookings). I dont have a property at all and cant afford to buy in this country, so it would be purely as an investment to try and earn me some profit over a few years which woudl hopefully put me in a better position to buy somewhere in this country.
Does anyone suggest what countries would be good for this? What things would I have to consider? Has anyone done this before and could offer advice?
Ive heard Cypress is quite good, although the Euro is being introduced over there, so noones sure whats going to happen to the market (their existing currency may weaken)
Many Thanks.
PS
I dont speak another language.
0
Comments
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You speak English? Get a buy to let here. 15% deposit required and a far better investment. In my opinion.0
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Hi,
Im thinking of going halves with a partner on a house/flat abroad. Probably something that we could rent out (if we get the bookings). I dont have a property at all and cant afford to buy in this country, so it would be purely as an investment to try and earn me some profit over a few years which woudl hopefully put me in a better position to buy somewhere in this country.
Does anyone suggest what countries would be good for this? What things would I have to consider? Has anyone done this before and could offer advice?
Ive heard Cypress is quite good, although the Euro is being introduced over there, so noones sure whats going to happen to the market (their existing currency may weaken)
Many Thanks.
PS
I dont speak another language.
Do be careful as you can easily get your finger burned. By all accounts you have very little experience in the property market and it might be an idea to buy in the UK first.
There are still opportunities in the UK (maybe outside your area) to buy to let and a £70,000 property will only require a £10,500 deposit, with maybe a £380 pm income coming in.
This then leaves a mortgaged balance of £59,500 @ say 5.50% interest only = £272.71 pm
Making a tidy profit of just over £100pm..
* No language problems
* No currency fluctuation
* No flight costs
* No brainer
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
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