The prospect of investing in property abroad holds a lot of appeal for most people. The thought of owning a home in a country with a different climate and a slower pace of life seems like a dream come true for many. While some people invest intending to use the property as their home, others prefer to buy a property as a second home or purely for rental purposes. If you have decided to invest in the property market abroad, you may wonder which areas to consider. Here are some of the best options for 2014.
There is plenty to attract investors to France in 2014 and it remains one of the most popular choices for British people investing in property abroad. Not only is it one of the closest overseas destinations to the UK, the prices and interest rates are low and you can get a mortgage with up to 85% loan value.
Turkey avoided the property slump and problems associated with the Euro. It also has a great climate and a thriving tourist industry. Property in Turkey has good investment potential. However, you may only get a mortgage for between 50% and 75% of the property’s value, and interest rates are higher than other European countries.
Spain has overtaken France in the popularity stakes and is now the most popular overseas location for Brits to invest in property for sale Javea. The climate, food and culture are all factors that tempt people from the UK to invest in real estate in Spain. On the plus side, interest rates are low. However, since the property market collapsed in 2009, you are only likely to get a mortgage for around 60% of the property value. This means you will need a substantial deposit. For Spanish property bargains, check out http://www.valuvillas.com/.
The number of people interested in buying property in Portugal was stable over the last few years, but there is now evidence of an increase in property sales. It has many of the same appealing features as its neighbour, Spain. However, you can expect to get a higher loan amount on your mortgage here than you can in Spain, with lenders offering up to 70%. Interest rates are low when compared with other European countries.
If you fancy something further afield, then you may consider buying property in the US. As a result of the global economic crisis, repossessions increased and bargains are now available. Some areas to consider are California, New York and Florida. Interest rates here are relatively low and you can expect to get a mortgage for up to 75% of the property value, though this figure varies between states.
If you search carefully and take into consideration both the pros and the cons for each country, there are plenty of great investment opportunities available in properties abroad in 2014.