For most people, owning a place abroad is a strong desire. When you do eventually invest in property overseas - you need to make sure you are armed with all the facts.
Tip 1 - Whichever overseas property investment company you deal with, check if they're a member of the Association of Property Professionals (AIPP). IQ Property Investments have been vetted and approved as members of the AIPP, which means that when you purchase an overseas property through IQ Property Investments, you have the peace-of-mind of knowing that we will act with honesty and integrity, and to high professional standards..
Tip 2 - Location, location, location. It's a cliche for a reason! As property investment strategy goes, this one is key. Don't be tempted by 'flavour of the month' deals - there are a lot of people holding on to worthless properties in places like Bulgaria which they bought in the last property boom. Not exactly tourist hotspots now, are they?
So when picking an overseas investment, here are some important questions to ask yourself, to ensure you are making a really savvy investment:
- Does it have a strong, proven track record for lots of visitors? Check the tourism numbers online.
- Is it seasonal, or do people go there year round? If your investment is empty 6 months of the year, is it worth it?
- How many units are for sale? If you buy on a development - make sure there are no more than 250 units for sale. Any more than this will hinder rental or sale of your property.
- Buy something that will sell easily - is it unique?
- Is the property accessible easily from a well serviced airport?
- Are there facilities to attract tourists - i.e. Golf, Spa, Water Sports etc.
- What is the weather like?
Also, consider Fractional ownership. Fractional ownership is a very cost effective way of buying a luxury property for a fraction of the cost - see our Fractional ownership page to find out more on this:
Whether you are buying overseas property for investment or for personal usage - buying an overseas property can be one of the most rewarding experiences you will have. By answering these simple questions, you can ensure that you can enjoy the fruits of your investment for many years to come.