Overseas Property Investment News – What the Papers Say
A round-up of news on overseas property investment from the property papers.
Why the smart money is on Germany’s cheap buy-to-lets
The Independent reports on growth of East Germany buy-to-let option in cities such as Dresden, Berlin and Leipzig. Reasons for investment: low property prices on the rise, major European capital cities, Germany economy on the up, and increasing desire for property ownership by Germans from traditionally lifelong renters.
When home is away
The Telegraph highlights a new legion of BARBIES (Buy Abroad Rent in England) and considers the pros and cons of getting on an overseas property ladder to fund the first step onto the rung of the UK market. Reasons for buying abroad: soaring UK property prices with average asking price up 1.5% to £228,183, rising interest rates, a strategy to help first time buyers reap returns on small deposits in order to buy a UK home. Case Study highlights: Ski property in Canada, off-plan apartment in Cyprus and new golf development in Spain.
Day when the sunshine retirement dream dies
The downsides of retirement abroad are often forgotten in favour of pursuing the dream of a place in the sun. The Guardian investigates the implications of what a change in circumstances can mean for a retired couple abroad. Our recent retirement property podcast with Saga is also worth a listen.
Paradise gets the green light
The Timesonline takes a closer look eco-friendly holiday homes, a solution to the dilemma of being green at home whilst wanting to jet off to your very own place in the sun. International developers recognise need for wildlife friendly and recycled watered golf courses, to harness solar power even carbon neutral inspection trips. Environmentally friendly resorts the future of overseas property, Moskito,a British Virgin Island a future eco-resort planned by Branson for 2010. Ambitious projects underway in emerging markets such a Thailand, Goa, The Caribbean and Latin America. Difficulty is determining a new development’s ‘greeness’ usually an endorsement from a environmental organisation. The over-riding issue is the emissions impact of international flights with many viewing carbon offsetting as a new moneymaking scheme to assuage any guilt.
A dream home in Cyprus
Buying a property in Cyprus has always been popular with Brits The Sunday Mirror details positives factors affecting Cyprus property. Takeaways: Prices have risen 80% in the last 5 years, ambitious plans for new golf resorts, marinas and yacht clubs, upgrades to Larnaca and Paphos airports and road improvements, adopted the euro in 2004. Tips: Look beyond busy resorts, capital Nicosia and Larnaca are up and coming with prices 15% below popular Paphos. Ayia Thekla and Tersephanou, 10 minutes from the blue flag Mackenzie Beach and five from Larnaca airport have future potential.
Chasing out the Cowboys
The AIPP is the new industry watchdog for the overseas property market, the Daily Mail profiles this year old non-profit organisation which now has 184 members, latest member Natwest. Aims to emulates bodies such as ABTA. Top Tips: independent legal advice, question profit and rental yield promises and don’t overspend. Spreading risk abroad especially important when investing for profit. 35 complaints with compensation cases launched. To learn more about the AIPP listen to our AIPP podcast.
