Overseas property investment 'requires research'

 

Those considering investing in overseas real estate could still make some money from this strategy, it has been claimed.

Property-Abroad.com director Les Calvert noted that this requires research into how the location was affected during the recession.

Furthermore, buying assets in popular holiday destinations needs consideration of how the tourist industry is faring, he added.

The expert said: "It is appealing to people if they are doing their homework."

Recent research from Knight Frank showed the global housing market has fallen to its weakest position since 2009, with an average price rise of 0.1 per cent in the three months preceding June.

This represents a 1.7 per cent growth over a 12-month timeframe, with the market dropping in 23 of the 50 nations surveyed.

"Only the astute investor" is using international accommodation as a money-making opportunity, Mr Calvert declared.

He recommended studying the country and the locality in as much details as possible before purchasing any land or property.

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