Buying Property Abroad Advice
Using Your Overseas Property to Pay Off Your UK Mortgage
Published on 26 April 2008
Well, well, well, the irony of it all! Who would have thought that there would come a day when you would be considering releasing the equity in your European second home to pay off your UK mortgage!
Gone are the days it seems when Brits were happily re-mortgaging their British property to buy a home in the sun; today greater numbers of us are more likely to be cashing in the money we have overseas in real estate to get a better mortgage deal on our principal residence back in the UK.
Buying Property Abroad in Emerging Markets
Published on 22 April 2008
The Association of International Property Professionals’ ‘International Property Market Report’ found that around 30-35% of British money spent on overseas property is spent in emerging markets. But how is this figure likely to compare now that there is a globally understood downward trend in real estate investment?
In this article we look at buying property abroad in emerging markets and try to determine whether it makes fiscal sense or not to go out and buy a home overseas in a non-established marketplace given the current fiscal situation.
Making Money from Property Abroad Even Now
Published on 18 April 2008It is simply not true that you cannot make money in a downward market – ask any real estate investment professional and they will tell you the same thing. In fact, some will be so bold as to say a market downturn is the ultimate time to make the most money!
So, if you’re thinking of looking overseas for real estate here’s how you can be making money from property abroad even now…
Words of Advice When Buying Property Abroad
Published on 04 April 2008
Phrases like ‘credit crunch’ and ‘global financial crisis’ are having little effect on us resilient Brits, and whilst we may actually be feeling something of a financial squeeze and saving less and spending more cautiously, this has had nothing of a dampening effect on our insatiable desire for a place in the sun it seems!
Whether your reasons for considering buying a property abroad stem from the fact that you can’t get a foothold on the British property ladder, you’re fed up with life in the UK or you want to invest in a property abroad rather than a poor returning pension plan back home, there are some words of advice that we would like to impart for you to think about when buying property abroad.
British Buyers Buying Property Abroad and Renting in UK
Published on 26 March 2008
It’s not just first time British buyers who are looking abroad for their property fix, an increasing number of Britons are making the conscious decision to sell in the UK to buy abroad and rent in Britain. Meet the Barby – someone who uses overseas property markets to get ahead, well aware that they can rent in the UK for less than they can buy now that the British property market has become ridiculously overpriced.
At a time when UK landlords are being forced to admit that often, their rental income is falling far short of their mortgage payments and that nowadays, property price appreciation cannot be guaranteed, it’s no wonder that savvy British buyers are buying property abroad and renting in the UK.
Could Global Downturn Boost Eastern European Property Markets?
Published on 14 March 2008
It doesn’t matter which way you look at it or who’s data you’re reading, the property markets of the developed economies are definitely not going to be the attractive investments that they have been in previous years.
In fact in many cases holding onto their current value is just about as optimistic as it gets. The current negative sentiment towards the property market in UK and US may well convince you that it’s a good time to stay well clear of any property market, however, it could just be the perfect time for you to consider taking a serious look at property investment abroad, especially in the economies of the emerging Eastern European property markets.
Of course, no one can deliver 100% guarantees in any investment market at home or abroad, there are however some good indicators that the Eastern European economies may well prove a very attractive proposition to property investors eager to escape the current downturn and stagnation of their home property market, while at the same time looking for sustainable long term investment growth in alternative markets.
Prospects for Property Markets Abroad Ernst and Young
Published on 04 March 2008
Every year professionals from Ernst & Young’s real estate group meet to discuss property based trends around the world. From these meetings Ernst & Young annually produce a report detailing the current trends in real estate markets around the world and in investment approaches too, and they add their own observations making for informative and informed reading.
This year’s ‘Real Estate Market Outlook’ report really makes for essential reading if anyone is thinking of buying a home overseas for any purpose – whether they are simply seeking a vacation bolt hole or an investment property. Basically, everything is looking tough in real estate terms for at least the short term.
What to Watch Out For When Buying Property Abroad
Published on 03 March 2008
The property industry seems to bring out the worst in many people – or perhaps certain elements of the industry just attract unscrupulous individuals? It’s probably because there’s so much money to potentially be made from real estate that dirty tricks such as gazumping and undercutting become common practice, and lies and mistruths abound. However, understanding why bad behaviour is synonymous with property doesn’t actually help the majority of us who are simply looking for a secure home.
What’s more, understanding that bad behaviour is common practice in the property industry certainly doesn’t assist those of us who want to buy a home abroad - because then even more complications arise because we’re likely to be less sure of when a lie is a lie, and when something unbelievable is actually true and just a strange quirk of an unfamiliar legal system! Therefore, in this article we’re going to summarise what you need to watch out for when buying property abroad so that you stand less chance of falling foul of the dirty tricksters!
Buying Property Abroad Hidden Costs
Published on 07 February 2008
In many overseas locations you can still bag yourselves a bargain – you can buy an apartment in North Cyprus from GBP 50,000, you can buy a villa in Brazil from GBP 100,000 and everything in America is about half price these days what with the weak dollar and all! So naturally this, combined with the British thirst for property ownership and our desire to have a place in the sun, means that more and more of us each year are planning on buying property abroad.
However...there are hidden costs when buying real estate abroad that few take the time to tell you about properly. For example, did you know that you can pay over 19% in stamp duty alone in France depending on the property you buy and your own personal circumstances – with fees like these coming in on top of the asking price, your bargain basement property abroad suddenly looks more expensive than a flat in Mayfair! In this article we’ll take a look at buying property abroad and the hidden costs related to doing so.
Why We’re Buying Property Abroad
Published on 14 January 2008
In an incredibly witty blog entry by Penny Wise published on the LowTax.net website in early December, the writer comments that by about 2020 the UK will be inhabited by “Polish plumbers, Turkish bricklayers, Russian billionaires and Brazilian football players” because the rest of us will have all bought property abroad and expatriated!
I’m not sure if Penny Wise is completely correct in her findings, but then the most recent statistics do reveal that 3.8 million Brits and Irish already own overseas real estate – meaning that if you count each family as having an average of four members, 15 million of us can escape abroad if we want to already. So why are we all buying property abroad?