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Low prices favouring overseas property investment

Low prices favouring overseas property investment

Low prices mean many of those considering an overseas property purchase believe now is a good time to make a move.

This is the view of James Dearsley, European sales director at Atlas International, who said the overseas property market has undergone a "remarkable" transformation in the last six months or so.

He said market confidence has returned, especially in the more traditional marketplaces, thanks to "significant" reductions in prices.

"Atlas International has seen considerable interest from holiday home owners looking to capitalise on the low prices," he remarked.

Property investors are also realising that there are good returns to be made from both capital and rental investment perspectives, he added.

Mr Dearsley pointed out that many buyers, having seen prices remain stable for the last 12 months, believe they cannot get any lower.

As a result, they are making a move and buying now, using their property as a holiday home for the time being and keeping it on as a possible relocation home.

The expert said the Spanish market is performing particularly well at the moment, with overseas buyers attracted by low pricing.

He claimed that one developer in the country has just released four two-bedroom properties in a "beautiful" Spanish town for only £53,000.

"Two have already been sold and it won't be long before the others are sold too," he said, insisting that 12 months ago they may not have sold for several months.

"The market has changed and offers something that the UK property market can never offer, an investment that you can enjoy in 320 days of sunshine," he stated.

Of course securing favourable exchange rates on a money transfer to another country could help to make an overseas property purchase even better value.

Buyers can use a specialist broker to secure favourable rates in advance.

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