Overseas property buyers 'seek to invest wisely'
Investors who are looking to buy real estate in established markets are taking a different approach when making a purchase, an expert has noted.
According to Paul Collins, editor at BuyAssociation, many of the locations that are already popular with overseas property buyers are being looked at in a "new light" at the moment.
This, he said, is because they are seeking to "invest wisely" – which may be a reflection of how the global financial crisis has impacted on housing markets around the world.
Mr Collins highlighted the US as an example of one country that is being perceived differently, with many buyers looking for opportunities at the bottom of the market.
Investors were also said to be becoming highly discerning when looking at Brazil, as this market is going from "strength to strength".
This is not a surprise given the fact that two major international events are coming to the South American country in the next few years. Major cities across the nation will be staging the World Cup in 2014, while Rio de Janeiro is hosting the Olympic Games two years later.
Mr Collins has already flagged up Brazil as a possible option for foreign property buyers, noting recently that the country boasts the strongest real estate market in South America, as well as plenty of development activity with appropriate planning controls.
"It does represent a very good prospect," he commented.
Mr Collins also noted that overseas property buyers are not just looking at traditional investment hotspots, as many are seeking emerging markets that have the potential to take off in the near future. This could be a good way for investors to pay a minimal price for a property and collect hefty returns at a later date.
"There are constantly new destinations cropping up for overseas property purchases," Mr Collins said.