Overseas Investment Properties

MDUK

I am considering buying some property abroad for investment, I do not intend to use it myself and will let an agent run it. I am looking abroad simply because I believe that I will get for my money. I will be borrowing the money and expect to pay it off over 15 years. This will create a income as a 'pension'.

IMHO Spain, Portugal and most of the med are overpriced and seem to be a lot complexity around purchasing, ongoing issues (such as the government land grabs in Spain) and in some countries inheritance tax.

America has been suggested to me as they speak english, the law is similar to ours and they know how to do business. I wondered about Cyprus and am just starting the research.

Other areas i seem to hear a lot about are Bulgaria, the former Yugoslavia and Egypt around the red sea. I do not neccessariy just want to focus on the tourist market (but do not need much excuse to go back to Cyprus).

Does anyone have a recent experiences good or bad of potential invesment countries that they willl share with me please.

loanranger_4

Not sure about Europe (all I know is hearsay) but I would look at investing in Dubai. Everyman and his dog seems to be either buying or moving over there.

budgetflyer

USA looks a good bet. More your bottom end of the market.You can buy in Ohio,NY state etc for under £10K outright. These produce $300-$600 a month rent .Taxes ,management fees etc would dent aprox 25% of this amount. but still a nice return for very little money.
have a look at prices below

http://www.buffaloniagarahomes.com/property/index.cfm

or

http://www.reosource.com/index.html

p3gg

MDUK wrote:

I wondered about Cyprus and am just starting the research.

Be very careful with NORTHERN Cyprus. Recently there have been cases of foreign owners having their property taken off them by the the courts and returned to the Greek people who owned it prior to Turkish occupation.

(I write the above from a position of political neutrality and, well, ignorance, incidentally -- just recounting it as it was reported to aid a fellow MSEer.)

Bulgaria is a good prospect, IMHO.

MDUK

Thanks, you're right, Northern Cyprus is a can of worms. Paphos looks interesting

joannegibson

MDUK wrote:

I am considering buying some property abroad for investment, I do not intend to use it myself and will let an agent run it. I am looking abroad simply because I believe that I will get for my money. I will be borrowing the money and expect to pay it off over 15 years. This will create a income as a 'pension'.

IMHO Spain, Portugal and most of the med are overpriced and seem to be a lot complexity around purchasing, ongoing issues (such as the government land grabs in Spain) and in some countries inheritance tax.

America has been suggested to me as they speak english, the law is similar to ours and they know how to do business. I wondered about Cyprus and am just starting the research.

Other areas i seem to hear a lot about are Bulgaria, the former Yugoslavia and Egypt around the red sea. I do not neccessariy just want to focus on the tourist market (but do not need much excuse to go back to Cyprus).

Does anyone have a recent experiences good or bad of potential invesment countries that they willl share with me please.

try Turkey. I've just bought in Altinkum. Very cheep too and you could use it for your holidays too !

Boardguide note: edited for advertising

sneekymum

Have you thought of southern Ireland?

The south coast has a climate like the Channel Islands - the property is cheap - you can get there by ferry or plane - the folks are friendly - they speak English - there's almost no crime - the law is the same as ours and I believe it will be boom-time in the next thirty years.

grebbo

MDUK,

We've used a company who specialise in overseas investment property when buying some apartments in Bulgaria (They dont just do Bulgaria)

If you want their web site address drop me a PM as I'm not sure if its against the rules to post the address on this forum?

One of the downsides we came accross is the fact that buying in an emerging market usually means you cant get finance and have to buy cash.

Brear

As the other posts advice stay away from nothern cyprus as its all kicking off a little over that way.....

Try some sites like https://www.property-investment-centre.co.uk for advice etc on investing in certain areas....

Theres plenty of sites out there to help with investing in europe so have a google and see what people are saying out there.....

Europe is quite expensive at the moment so maybe other options might be a better choice.....

Cheers

karenj

I would just think carefully about buying a holiday home to let in any country. It is not that easy to rent all year round. I live in Galera, Spain and I have seen many homes that people have bought and they are not rented regularly, maybe once or twice a month. I would assume that the same applies wherever you choose to buy, so it may be a good investment in the long term, but don't expect a quick return on rental income.

brodev

I have had property in Costa del Sol for many years now. It is the only area I know but i suspect most others are similar. I and many others friends have made big profits in property here. But ,we were here and knewthe market. The Costas are full of "agents" looking for people they can make money from. I know of many who have been ripped off. Some have lost there life savings. Of course tyhere are fair agents but I would point out a few MUSTS. 1 Use a solicitor. 2 Don't use your agents solicitor. 3 if you can go to the area for as long as possible, speak to the local expats (but be careful of them as well) and get a feel for what is fair for that part of the country