What Are The Best Locations To Buy An Overseas Property?

By Laura Cheshire

Where to buy abroad? That is the big question! If you're thinking of investing in overseas property wouldn't it be perfect to find an undiscovered paradise where property values will increase ten-fold in the next three years! Yes it has happened before but for every investment success story there are more that haven't fulfilled their potential.

The best location to buy abroad comes down to what you want the property to do for you.

If you require a regular income from letting the property you should look at locations with a good track record of demand such as Spain, France and Italy. You might consider speculating on up-and-coming areas such as Bulgaria, Turkey or Morocco, but bear in mind it could take time to provide a regular income.

If you're looking for a short term return on your investment then buying off-plan is one of the best ways to achieve this. Buying 'off plan' is buying a property before it is built. You buy often at a reduced rate due to incentives from the developer keen to sell. You then sell it on after completion often at a good return in a short space of time. You may even decide to sell before completion if the values have risen. If buying off plan then often the 'newer' countries in the market offer the best return. Places such as The Dominican Republic are becoming very popular with US and Canadian citizens due to better transport and the building of 'super resorts' such as the new development at Punta Perla.

A good property agent will offer you advice on the best options available.

If the property is to provide a long term return on your investment you have more options. As with any investment you have to decide how much risk you are prepared to take. For example, Spain is probably one of the safest countries to buy due to demand, but the return may not be as much as an up and coming area such as Egypt or an, as yet, 'undiscovered paradise'.

If this is to be a holiday home for you then it's really quite obvious it should be somewhere you like! Keep in mind that you will be returning on a regular basis so the cost of flights should be included in your budget.

If the property is to be your permanent residence choose a location you are already familiar with and can speak the language with some confidence, or be prepared to take language lessons. Also consider the distance and ease of travel for family and friends who will want to keep in touch - and get a cheap holiday at the same time!

Take your time to decide the exact reason for buying abroad and this will create a shortlist of the best places. Visit the location if possible and talk to others who have bought there and talk to a reputable overseas property agent. If you do your homework you will be far more likely to meet your objectives and discover the joys of buying overseas.

Laura Cheshire has worked in the overseas property market for over 4 years and appreciates its a big decisions to make. She feels it is essential to find the right property and be within your budget. For more information and advice see buying overseas off plan property.

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