When buying property abroad it is important to look for the best deal without compromising on quality. Many countries have fluctuating property markets at the moment, so now could be the best time to invest. Here are some tips on good locations for potential buyers, first time or not:
1. Look for property in Europe. The recent boom in house prices has finally come to an end, leaving house prices at an all time low. You can get a mortgage at a very low interest rate and some houses may be cheap enough for you to buy in cash, like in Bulgaria, with prices beginning from as little as $12,500 or less!
2. When looking in Europe, try to avoid most regions in Spain as the ‘land grab’ law allows the government to seize any piece of land or any property for development, leaving the owner with no house, and no money.
3. Austria is cheaper than France and most people are able to qualify for a very low-rate mortgage and there is no risk of losing credit or investment as the country holds many schemes to assist with finance options.
4. Jamaica has huge potential as its recent political crisis has left the country unable to encourage foreign investors to buy property. This means that house prices are low, but be quick, as the country is recovering the prices look like they may rise considerably. If you buy in Jamaica now, you are set to make a packet on your property.
5. Malta is one of the most promising locations. The warm climate attracts lots of potential rental clients for your new property and the tax friendly status for non residents means you will pay no more tax than the locals.
6. The property market in Orlando, Florida has officially crashed. This would be a prime location to buy property as you can buy a house at more than half the standard property values of two or three years ago.
7. France is especially welcoming to English and American tourists, making this an ideal country to buy property in. The warm summers and snowy winters mean you will be able to enjoy your stay in your new house at whatever time of year, and with a saving of up to 40% of standard market values, you cannot go wrong.
8. In South Africa the Great British Pound and the American Dollar are worth lots and lots of money. Here you can get much more for your money and the quality of the homes for sale will surprise you.
9. Russia is a growing tourist nation. Houses are cheap but make sure you research thoroughly all of the cultural differences to avoid offending any locals, and be sure to keep track of the ever changing laws in Russia as something as simple as a woman wearing a short skirt around an Orthodox church is punishable.
10. England will soon become maybe the best place to buy property. At the moment prices are sky high with one bedroom apartments costing around $250,000, and two bedroom detached houses costing an average of around $800,000. It is impossible to buy houses in England at the moment, even for the English themselves, but keep an eye on the market as a devastating price crash looks apparent and then property in England will look more attractive to everybody.