Points of interest when buying abroad
09/12/2011 - Some markets are too risky
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Before buying a property abroad it is worth considering the following points of interest the quality and location of the property, availability of finance, its capital growth prospect and the rental market.
If you are looking to purchase a property at a knockdown price, a list has been compiled with the top ten bargain locations. At the top of the list is Ireland then the U.S. followed by Hungary, Greece, Bulgaria, Cyprus, Spain and lastly Portugal.
Ireland’s property price slump is still very much in motion and the average property in some areas including Dublin are more than 50 per cent lower than in 2007. Property values in some areas of the US are picking up but in some areas such as Florida, they are continuing to fall and there are no restrictions on UK citizens purchasing in the US, Atlanta and Detroit have strong rental yields.
Properties in Spain are available at knockdown prices but a risky purchase due to the problems with the Euro and oversupply. Greece property sales carry a high risk along with those in Cyprus due to their financial instability.
