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Article > Resurgence in Foreign Property Market


Article kindly provided by
Laura Henderson

www.Abode2.com

 

As further proof of the resurgence in the foreign property market, a brand new magazine, Abode2, has just launched, specialising in the finest resort homes and developments across the globe for investment, lifestyle, rental and retirement purposes. This is the first property publication to launch since 2007. A surge of investment interest has been stimulated in the expansion of foreign resort developments following the popularity of the shared amenities and luxury facilities that these resorts offer. Abode2 is a must-read for anyone serious about investing in a resort-home abroad and is packed with practical information and analysis of the latest property market news and trends, including investment prospects, honest location reviews, detailed resort case studies and ‘how to’ buyer advice.

Abode 2 editor, Laura Henderson, reports a flight to quality shift in international property buying patterns: "A decade ago developing markets such as Eastern Europe had property investors rushing for the high returns and relatively low capital outlays they offered; but since 2008 money has been moving away from those areas due to a lack of transparency, over-supply and title issues. In contrast, we’re seeing a shift in interest to more established markets with proven long term results. Investors buying a city pad for example, can instantly reference it in terms of its value and rental rates against current market conditions, as well as making a smart lifestyle choice.”

 

Laura continues, “We are seeing Increasing buyer interest in capital cities in particular, which have great investment potential, for example new-build property values in Buenos Aires are tipped to rise a further 15% by 2015, since house values have more than doubled there since 2002 . Similarly the value of Toronto real estate has increased by 5%+ in the past year and yet property in a prime Toronto district is only half the price of similar property in downtown Manhattan. Capital city prices can be quite competitive too, as flats in prime residential sub-districts of booming city Berlin like Wilmersdorf and Dahlem, can be snapped up for just £200,000.’

Some Quick Tips for Buying Abroad:

  • Visit your desired location twice, preferably at different times of the year
  • Clear the rosey mist from your eyes and really think about what will suit your long term needs
  • New or old is a personal choice so think about whether you want a period character property or a contemporary younger building and also what the maintenance implications are
  • Double check that the price quoted is the price you are paying as there are often hidden costs
  • Get your currency right and bear in mind currency conversion costs
  • Make your purchase pay by renting the property out when you are not there but remember this income will be subject to UK tax laws
  • Don't get too excited by guaranteed returns as they are often added to the asking price
  • Think ahead and plan longer-term rental strategies especially if you have a guaranteed rent period
  • Plan your escape route and have an exit strategy
  • Appraise the resale market in case you want to take this option

Abode2 is on sale bi-annually for £6.95 from WH Smith and premium retail outlets throughout London and the South East, such as Selfridges and Harrods. It is also on sale in the USA, Hong Kong, Singapore, the Caribbean, Brazil, New Zealand and Australia. The next issue is due out in December. Visit www.abode2.com for more info.

Abode2 ‘s editor is Laura Henderson, who is a property journalist, columnist and author. A frequent contributor to the Telegraph Expat, the Herald Tribune and the Scotsman, she is also the author of ‘Tricks and Mortar: The Little Book of Property Wisdom’.

 

 
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