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New overseas property purchasing statistics show that despite the “Crunch” Brits are still buying abroad.
Foreign exchange specialist Currencies Direct has analysed the number of foreign exchange transactions made by Britons buying property abroad in the last six months.
Portugal is beginning to encroach on the USA’s usual third spot, as Brits monitor the housing market across the pond and also begin to consider safer overseas bets than the high-risk, quick-return emerging markets regions of 2007.
Mark O’Sullivan, director of dealing at Currencies Direct, said: “Investors are now looking to established markets, whose appeal will remain consistent amongst ex-pats and holidaymakers, guaranteeing a rental market for as long as Brits can afford to holiday abroad.”
Despite housing woes in all three places, Spain, France and the USA still remain the favourites.
O’Sullivan thinks this might change: “When it comes to nurturing the steady growth of its property market, Portugal is learning from Spain’s mistakes, and as a result has much stricter planning regulations in place. This has ensured that new-build properties are coming on to the market steadily, and that Portugal is not suffering from any of the planning irregularities its neighbour has endured in recent times”.
Cyprus has also made it into the ‘top ten’ buying destinations.
O’Sullivan said: “Property prices have risen by as much as 80% over the past five years in Cyprus, but still represent good value, particularly for new-build property, which is in the majority on the island. Cyprus also enjoys a strong bond with the UK, has a consistently mild climate and favourable taxation laws – all factors which combine to make it a popular destination for retirees and investors”.
Top 10
- Spain
- France
- USA
- Portugal
- Italy
- South Africa
- Australia
- Cyprus
- Canada
- New Zealand
Naturally Sunshine Property Investments can assist with any of these countries should you wish to explore the opportunities further please contact us with an outline of your objectives and will be happy help you.
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Investor funding project St, Lucia, Caribbean.
This opportunity is only available to contracted clients in our Investor club. Contact us for more information.
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Next newsletter we hope to feature Turkey and are producing a free buyer’s guide for our readers. Look foreword to hearing from you soon.
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Kind Regards
Andrew Greenaway
Have a Sunshine day!
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