Dreaming of buying property abroad?
by Neil Cooper
Property in Spain, Ah yes, you remember the dream people had years ago about owning property in Spain, most discounted the notion, it was only for the wealthy, well time marches on, our attitudes change and most of us are a bit wealthier.
It is a fact that those who bought 20 years or even less ago are smiling and rightly so, overseas property values have soared, enabling many to purchase additional properties even in other countries, those who procrastinated must surely rue the day they hesitated and pulled back from the brink of opportunity and overseas property ownership.
Many people helped by rising property values in the UK have taken the plunge and invested in property in many parts of the world, and no wonder, with emerging countries showing property values rising almost daily. The eastern bloc countries show great promise as do more familiar countries such as, Morocco, Montenegro, Brazil, Dominican Republic, Bulgaria and the not so well known, Lithuania, Latvia, Ukraine, Belize etc.
The world these days seems a lot smaller than 20 or so years ago, what then seemed a dream is now everyday reality for many and more join daily. Statistics show that Britons purchase 1,000 homes a week overseas, with the old favourite Spain accounting for about 80% of sales, it's not hard to see why, with 300 days of sunshine a year, good infrastructure, excellent health service, lower cost of living, superb beaches, outstanding golf courses, restaurants to suit every taste and a quality of life style all contribute to make the country what it is.
But what of the other countries? Brazil offers some of the best beaches in the world and is only now being discovered by investors, Bulgaria offers excellent property for very little money, Latvia with price increases of 3-5% per month in some areas. Investors with say £50,000 could buy several opportunities and £100,000 could buy you an impressive portfolio of property investments worldwide.
Perhaps people disappointed with the UK pension fiasco in recent years should look no further than overseas property to provide financial independence in the future. Ah yes and back to the future, and dreams, are you going to just think about buying property abroad or will your dreams become a reality? Astrid Alauda said 'Dreams are free, so free your dreams' I couldn't have said it better.