Credit crunch creates 'investment opportunities'

Wednesday April 23rd , 2008

Ongoing problems in the global economy could ultimately work in the favour of overseas property investors, industry analysts have said.

According to Amberlamb, many consumers are unable to get sufficient funds or a mortgage due to the current credit crisis.

This has hit demand for overseas property in some countries, which in turn has affected some property sellers' businesses.

The organisation said many have become desperate to offload their stock and are therefore slashing many prices.

Consequently, people who can still afford a purchase could take the opportunity to purchase a property at a knock-down price, before the market begins to pick up again.

Rhiannon Davies, director of Amberlamb, said: "Those who buy in very low today and cash in on the financial crisis will reap the dividends over the long term."

Similar advice was recently issued by the Foreign Property Buyer website, which said many firms in Spain are offering incentives such as cash, good mortgage deals and even free cars to buyers.

Therefore, prospective investors have been told to find out what each company is offering and use it as bargaining tool in their own transaction.