Investing in international property by the London Magazine
2014-05-04 18:19:51
Published by The London Magazine on April 30th 2014, Zoe Dare Hall takes us around the world looking at safe, and emerging destinations to invest in real estate – asking the question: are you a safe bet? Or more of a gambler?
The last five years have been a topsy turvy time for many international economies, meaning that investing in real estate overseas has become more of a skill than it was before – those ‘in the know’ and those with a knack for picking the right time and right moment to invest – however there is still a fine line between a safe bet and an upcoming destination.
The London Magazine takes a look at two safe bet options and two upcoming options where most investors are placing their faith in the long term.
The difference between the safe bets and the upcoming destinations is that while the safe bets have been popular for years and have bounced back in recent years following the economic crisis, the up and comers have been reaping benefits from huge projects, growing economies, and government initiatives.
Safe bets:
Florida:
Skyscrapers in Miami and the brand new Miami Worldcenter are set to see Florida’s continued resurgence continue and are selling well into the millions - a sunny destination within an English speaking country, Florida will always prove to be popular amongst Brits.
Spain:
A large mansion in Spain will still set you back several millions, however smaller villas in Spain have seen dramatic price cuts in recent years of up to 60 percent due to Spain’s economy, so you can now find four bedroom villas from as little as 400,000 euros in Spain – something to tempt the Brit looking to retire, but perhaps scaring away some investors to look at the up and comers below.
Up and coming real estate markets:
Antigua:
The Citizenship Investment Programme allows anyone who spends over 400,000 dollars on a property to apply for an Antigua passport – attracting plenty of investors and those looking to retire to a sunny destination. High end property can cost into the millions such as the Pearns Point development or Jolly Harbour plots selling for up to 20 million dollars.
Turkey:
Luxury homes such as the world famous Richard Meier’s five villas in Yalikavak, Bodrum from 3 million dollars are leading the trend in new luxury homes in Turkey – gone are the days when you would find project after project of similar apartments and villas – Turkey has gone luxury and the world is taking notice.
South Africa:
With the British economy standing in a good position at the moment against many foreign economies, the pound is stretching further, up to 36 percent further in South Africa when compared with just a year ago.
Final word:
Whether you are a gambler or a safe bet purchaser, it is still possible to find plenty of options to purchase real estate abroad today – all five destinations listed by The London Magazine offer something different, something unique to each other, an opportunity to step on the overseas real estate ladder at a time when the global economy is still in recovery mode.
You can read the full article in The London Magazine by clicking HERE.