Overseas property market 'still a good investment'
Monday September 1st , 2008
Despite the credit crunch, buying property overseas could still be a sound investment, an expert suggests.
Nicholas Marr, chief executive officer of Homesgofast.com, believes buyers who do not need high loan to value finance are now reaping the rewards. Agents selling to this demographic will survive the financial crisis, he adds.
"Buyers are still there and they are picking and choosing the best products for them. For investors, these tend to be developments that offer low deposits and guaranteed returns," adds Mr Marr.
Those looking to buy into a particular lifestyle are likely to encounter the best deals as they can pick and choose the best properties, he believes.
Value for money is what Mr Marr thinks ultimately drives the overseas property market.
The Association of International Property Professionals reports that 25.4 per cent of all foreign properties purchased by UK buyers in 2007 were in Spain and 17 per cent in France.
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