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Buying Property Abroad Whats it All About

A look at the ever increasing interest in buying a property abroad. What are the best places, is it a good idea and what are the pitfalls if any Les Calvert from Property-Abroad.com answers some of your questions with his tips on what are the best areas for investment.

In the past 4 - 8 years there has been a tremendous increase in the interest, purchase and hype of buying a property abroad. The late 90's and early part of the 21st century has seen house prices surge in the UK to record heights, this together with the ever increasing coverage of the low cost airline destinations has given the average man in the street the excess equity in their existing homes and easier access to be able to think about buying and perhaps even living overseas.

Sure you have all probably been on a foreign holiday to some exciting destination, be it Europe, The Americas (http://www.property-abroad.com/estate-agent-directory)estate agents window you always make a beeline for it if not to compare the prices to back in the UK then certainly to see how and what one could afford - you have probaby been doing it for years now without really considering the possibilities.

4 years ago the number of properties owned by people from the UK hovered at around 170,000. Now there are over 1million Brits owning second homes in Spain and France alone, and figures from the Office for National Statistics recently revealed that around 200,000 Britons travel abroad every year in search of buying a property with the intention of staying for a minimum of 12 months.

Where should you buy a Property Abroad

The main question that Property-Abroad.com are asked by investors and holiday home seekers is "where should we buy" A difficult question to answer because every person's idea of owning an overseas investment property (http://www.property-abroad.com/shop/mortgages.html)

Financing your overseas property is a lot easier now than it was a couple of years ago. Mortgages for buying property abroad can be arranged through high street banks like the Abbey National, Nat West and Barclays. However, you may need to look at specialist lenders for new and emerging countries like Turkey, Bulgaria, and Croatia etc. Consideration should also be given to obtaining a mortgage in the country that you are buying in - things like euro mortgages can often work out cheaper than UK lenders but be aware of the changing exchange rate. Typical loan to value %'s can range from 60 - 80% depending on the country.

Overseas Property Insurance (http://www.property-abroad.com/locations/)covered in their overseas property database prices of properties for sale in the areas above can range from a plot of land in the Bahamas from 2000 right up to a country holiday complex in Tuscany for over 33 million. Typical property prices in the likes of Romania stand at around the 10-15,000 mark for a decent property in the outlining areas whereas 5,000 + will get you a rural property requiring renovation and upwards of 30,000 will buy you something very near to the city of Bucharest.

Top Tip

The property market in Poland is Les' tip for rapid future growth as he considers the country to have the best prospects of all current EU members. There are a huge number of international companies, such as Tesco's and GSK, beginning to set up offices, shops and warehousing in the country - this together with over EUR70 billion of European funding earmarked for the country over the next 8 years or so can only indicate the anticipated growth in employment, housing and infrastructure. Together with their Polish partners Les is currently busy identifying new opportunities within the country and will soon be marketing off-plan developments in Poland throughout his massive infrastructure of websites.

As the British buyer becomes more and more daring in his ventures of overseas holidays then the great British public will continue to conquer new and exciting areas of the globe in which to lay their foundations of a holiday home or indeed a permanent residence abroad.

Whatever your reasons are for considering a move abroad then remember there's only one company out there that can offer access to over 70,000 properties for sale worldwide:

http://www.property-abroad.com)

Tel: 0870 720 3210

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