Buying property abroad has become increasingly popular with the British and Northern Europeans for various reasons, mainly the warm climate, affordable prices and investment opportunities. With the poor returns on the stocks and shares market and uncertainty of pension fund's future, more and more ordinary people invest their hard earned cash into bricks and mortar by buying a property abroad.
Retirement abroad is no longer the prerogative of rich and famous. The dream of owning a property overseas turns into reality for hundreds of thousands of British people every year. Increasing number of pre-retirement age and the middle aged are buying overseas property (villa or apartment) in the hope to use it as a permanent or semi-permanent home in their forthcoming retirement.
What lures Britons to leave their homes in UK and look for the best place to live is not just a warm climate. Lower cost of living is also taken into consideration by people looking for a better quality of life, to what their UK pension can provide. Property in Turkey and Bulgaria is becoming increasingly popular choice for retirement abroad for the above reasons.
Spain and Cyprus remain a popular destination to retire due to the established social communities and high standards of living.
More and more couples consider choosing to buy a second property abroad and use it as a holiday home in summer and winter. Apartments in Spain have always been Britons favourite place in the sun to take holidays or short breaks. With the costs of travel dramatically falling, it is becoming cheaper and certainly more exciting to go abroad. Also the weather is guaranteed!
A lot of ordinary people realise that buying overseas property can not only become an ideal holiday home, but also provide a steady rental income. Think where you go to take a short winter break or spend Christmas - the Canary Islands (Tenerife)! Now imagine owning an apartment in Tenerife and be the lucky owner who also gets the rental income!
Property for sale in the emerging markets of Turkey and Bulgaria in the past few years has become a big attraction for investors and holiday home owners as they provide an affordable opportunity to own a place in the sun.
Buying property abroad and home has proven to be an excellent investment over the long term. Although it should never be overlooked that buying overseas property does not guarantee the increasing price in the short term, it is certainly a winner in a long run. An underlying asset of the investment cannot be wiped out as easily as the value of the stocks and shares, thus is less risky than other more traditional forms of investments.
It is a known fact that borrowing against your existing property is significantly cheaper, which makes it possible to create a portfolio of properties and benefit from the tax breaks that stocks and shares cannot offer.
More and more ordinary people realise the benefits of buying overseas property rather than shares and include Spanish property into their portfolio of investments. More sophisticated and informed investors diversify their risk and maximise their returns by investing in emerging property market of Turkey and Bulgaria.
The proposal regarding the possibility of including overseas property in your pension fund is a possibility in the future, so watch this space and review your pension portfolio with a financial advisor in the next few years as big changes are on the way!!!
Spread you risks, create a balanced portfolio of real estate investments!
Spanish property markets (Costa del Sol and Costa Blanca in particular) have been the first coastal resort areas, where British people discovered Spain. These property markets were pioneers in attracting foreigners to buy property here. With growing demand for properties in the above areas, lack of planning permission regulations, some parts of these beautiful costas have been overbuilt.
Costa del Sol and Costa Blanca property markets have now matured and provide lesser investment opportunities; however there is a big advantage of these areas - the established infrastructure, that makes these places ideal for retirement abroad or holiday homes.
By trial and error the property markets in up and coming areas of Spain are offering much more - good value for money, facilities, infrastructure that was frequently overlooked at the infant stages of the Spanish property market development. Costa Calida and Costa de la Luz are the future of Spanish property market.
This trend will continue despite the doom and gloom of some pessimists as the competitive Spanish mortgages open up the market to more people and therefore the demand will not reduce.
Large numbers of wealthy Northern Europeans are buying a property in Spain, in coastal resorts in particular and this trend will only increase as the European baby boomers retire. This will ensure the growth in demand for many decades to come, driving the prices upwards!
With the overwhelming supply of new developments coming in different parts of the world, growing number of the property exhibitions and UK property agents, as well as press and media coverage of different hot property destinations, it is easy to overlook your own objectives and jump on the band wagon.
We are here to help you to fulfil your dreams either you are looking for the best place to live, a holiday home in the sun, retirement home or investment.
Pick up the phone - and we will talk you through the options of buying an apartment or villa in Spain, buy to let apartment in the Canary Islands (Tenerife), holiday apartment in Bulgaria or permanent home (villa or apartment) in Turkey. The choice is yours!
Do it sooner than later as the prices are increasing!
