A strong investment case for property investment beyond Europe
Consumers who previously bought property abroad to enjoy as a holiday home are now considering the investment potential of their purchase.
Seven Continent Investment has said that buyers are becoming more "astute" about their choice of destination and are looking for a property they can profit from.
Ryan Chana, senior partner at Seven Continent Investment (SCI), explained that people are looking beyond Europe to maximise their return on investment.
Mr Chana said: "People who have bought in places like Spain, for example, will have bought nice holiday homes a few years ago but now they have problems off loading it and selling it and maybe cashing in on any capital growth they have got, so they are becoming a bit more astute about where they are buying."
Interest in buying property in destinations such as France and Spain is dwindling as British investors are affected by poor exchange rates, an industry study has shown.
The latest HiFX Monthly Global Property Hotspots Report shows that enquiries for France and Spain have fallen by 11 per cent.
There has, meanwhile, been increased interest in US properties as buyers are keen to take advantage of the weak dollar and falling house prices.
Overseas Property News posted on 30/05/2008 17:19:32
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