The current economic climate has affected many overseas real estate markets. Large and small investors who have already bought or want to buy real estate abroad are also affected.
The United States
The US, particularly Florida, has a high volume of expropriated real estate and has been hit hard by the economic recession. Investors looking for cheap property abroad should take a close look at the UK market as there are some good deals available at the moment. Investors spending the same budget they planned before the recession Immobilienmaklerin and buying US homes abroad that have been repossessed and are just clamoring for buyers can find even better deals on high-end luxury homes and recoup their returns on long-term investments.
Investors should think about their preferred location and where they want to buy more overseas property for maximum returns. Repossessed properties are now more affordable in prime locations that were once premium priced. If there is land for sale at a good price then go for it because when the overseas property market picks up again you can either resell the land or develop it and make a big profit just by waiting and biding your time. Even a prime location will always sell, so buying property on the coast abroad or luxury locations is always a positive move.
United Arab Emirates
The growth of the UAE market has declined dramatically over the past year, with Dubai being hit hard. Real estate in Dubai has lost value and investors have completely withdrawn from the market. But while some markets have shrunk, other potential foreign property markets are gaining popularity and growth, such as Africa’s Egypt and Morocco and South America’s Brazil.
Foreign real estate in Europe
Buying property abroad in Spain has drawn really negative headlines as developers abandon their clients leaving properties and developments unfinished, corruption, land grab litigation and the property oversupply. Foreign investors looking to invest or buy a second home can now get a really good deal on a foreign property in Spain as prices have fallen and there is an oversupply of property on the market with sellers willing to sell at discounted prices to sell.
It is also very important that investors looking to purchase a property in Spain buy from a reputable agent or developer that they have thoroughly researched and not part with money until they have seen the property in question. You should also talk to other buyers and perhaps more importantly visit the development in Spain itself.
The situation is similar with the foreign real estate market in France, which was also affected by falling real estate prices last year. However, this price drop is a great opportunity for investors looking to buy overseas property in France, with the added help of falling interest rates creating even greater demand in the property market.
Sellers in France should, if possible, sit out the market situation for the moment and wait for property prices to bottom out and start to recover.
Portugal is emerging as a potentially good market for buying overseas property for the UK investor. Portugal has always been a popular destination for British holidaymakers and is now considered ideal for good value property. Portugal has a pleasant climate, can be reached easily and quickly by plane and has beautiful coastal Immobiilienverkauf areas. It is also very popular for golf and a number of properties form part of luxury golf complexes.