Mon, 07 Jan 08
International property investors remain confident despite tough times in 2007...
It seems that for
Robin Haynes of Foreign Currency Direct is particularly optimistic following a pick up in enquiries at the end of last year. We’re experiencing a good level of interest at the moment. Overall we saw an 8.2% increase in the number of overseas property transactions in the fourth quarter of 2007 compared with 2006.
Buyer diversity keeps established markets strong
The world’s established property markets have maintained a consistent level of interest over the last 12 months and, despite speculation to the contrary, many are expected to continue being popular. Countries such as
There has been considerable nervousness over the economy recently, but we believe that the majority of the established markets will remain robust over the next 12 months.
The key is the diverse selection of buyers who look to purchase in these destinations, from second home owners to those relocating for retirement. The huge variety present here in terms of age, financial circumstances and motivation for buying is the driver behind the constant supply of purchasers.
Spain and Florida still hold appeal
While Spain and Florida are reported to have experienced overheating recently, they still hold great appeal for traditional overseas buyers according to Robin Haynes: With all its bad press we know that Spanish property is taking longer to sell than normal, but British buyers are still in love with the idea of a place on the Costas.
Meanwhile, with property prices having fallen in the
Falling broadly into two groups, the emerging property markets revolve around the up coming areas of Central and Eastern Europe and more exotic locations such as
There are certain destinations across Central and
Meanwhile, more exotic locations are expected to grow in popularity as buyers become even more adventurous.
Linda Travella, committee member at the NAEA International incorporating FOPDAC, comments: Wherever you are looking to buy, the important thing is to seek the advice of a reputable and knowledgeable agent. There can be many complicated buying, tax and legal issues to contend with, particularly in less established destinations. Meanwhile, some of the horror stories you hear in the press are the result of property purchases that have not been monitored by an experienced professional, so visit naea.co.uk to find out more about choosing the right professional.
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