10 tips on how to buy a property abroad from A Place in the Sun
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In the current economic climate, the general feeling is that people should be pulling in their financial horns and riding out the storm.
But according to Richard Way, editor of A Place in the Sun, the UK’s best-selling overseas property magazine, now could be the best time in a generation to buy property abroad.
“If you’ve got the cash and you can buy now, you can get fantastic bargains,” says Richard. “If you’re looking for an investment, you don’t buy properties when the market is at, or close to, its peak – you buy as close to the bottom as you can so you can benefit from a turn-around. And if we’re not at the bottom now, we’re close to it.
“If you’re buying for investment and take a mid to long-term view – five to 10 years – then you should see healthy returns.”
Richard offers 10 tips on buying properties abroad:
1) Look out for distressed sales: The economic downturn has knocked the housing market. So there are loads of properties now available that have been priced competitively low in order to achieve a quick sale.
