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| Buying Property Abroad Thnking of buying a house in Spain or somewhere else abroad? Post about your questions, answers, and experiences here. |
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The property market here in Barcelona has started to pick up in recent months. Good quality properties in central locations have held their value well, the rest have dropped in price and are unlikely to drop much further.
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The latest figures published by the Ministry of Housing show that in the first quarter of 2010 a square metre cost 1,865.7 euros which is 4.7% less than in the same period last year.
However, in a dozen provinces - Teruel, Cantabria, León, Palencia, Salamanca, Soria, Zamora, Albacete, Cuenca, Cáceres, Ourense and Melilla – prices have risen compared to a year ago. In these areas of the country the surplus stock of housing has started to go down. People interested in buying a property are advised to keep a close eye on offers available. ( source: euroresidentes) |
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The figures from the Ministre of Housing are quite useless... Moreover, I would say that the figures about Spanish property market are quite unaccurate. The market is moving very fast and there is not a standard methodology.
If you want to buy or invest I would recommend to find a local agency to get a micro research of the area. |
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I've heard Morocco, parts of Eastern Europe and South East Asia are a good place to invest. Incidentally I just read a poll that named Shanghai, Singapore and Mumbai are the best places to invest in the world. Not sure about that, but that's what the poll said.
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There are many property investments out there at the moment but it really depends on your objectives as to where is best. Are you looking for a guaranteed return on investment? Are you looking for high capital growth for a specific period? Do you need to clear exit strategy within a certain time period?
I have invested my pension fund in to overseas properties as well as savings. I have bought offplan and current receive a 6% return on my deposit monies (more than in the bank!). There are some fantastic options in Cape Verde, Caribbean and also in Brazil that offer a guaranteed return and resorts are managed by 5-Star hotel operators. Property in these regions has increased in the last few years and will continue to grow due to the current demand from tourists. I have been involved with Overseas Property Investments for a number of years and I would be happy to advise you, depending upon what type of investment you are looking for. Good luck! Greg Ford 07793416708 |
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