Where to invest 50k-60k?

I am in a bit of a dilemma at the moment i have 50k to 60k to invest i was thinking about bulgaria with buy in bulgaria.com i could buy a nice 1 bed apt for 47000euro in sunny beach but im not to keen on the weather i.e 3 months of sun 9 months of mixed rain and cold.Another option is furteventura have been on holidays before liked it but would i get something for the money i have. And my other option is cape verde the weather attracts me its accesible enough via london im not pushed on rental i would rather keep it for myself and family and friends i would keep the property for 5-8 years any help would be fantastic as i want to act on this soon and not get left behind. I am 27 years of age no debts i am not a home owner and have no interest in buying property here i will wait till the bubble bursts im living at home so no major outgoings i.e rent...also open to other ideas where the sun shines???

Re: where to invest 50k-60k???

Hi Steven,

It's important to know that if you buy an overseas property, you will lose your FTB entitlements in Ireland, which are worth quite a bit - much lower stamp duty for most people, higher mortgage interest relief, etc. Most people would recommend that you buy a property to live in before investing anywhere.

If you do decide to invest abroad, be careful about buying where you are not familiar with. Buy where you know or at least spend a few weeks in any destination that you're interested in. I live in Eastern Europe and am familiar with Bulgaria but wouldn't dream of investing there without living in the country for at least a short while. Budapest is the same. Guessing which parts are a good investment is extremely risky without local knowledge.

If you use the investment as a holiday home, it can have added benefit and is more of a lifestyle decision than a financial one. Two sunny destinations, which (in my opinion) are beautiful are the Croatian islands close to Dubrovnik or Split and the coast of Montenegro.

Best of luck!
Budapest

Re: where to invest 50k-60k???

Is there any particular reason why you've opted for foreign property as the best investment option for you right now?

thanks for replys for the first one the ftb grant does not bother me as i do not know whether i will ever buy here i have always been interested in emirgrating eventually and to the second post i feel forgien investment for the time i am willing to invest will show best returns capital apperciation is quite good in the countries i have mentioned so a 5 year investment should show good yields but bulgaria i still don't know about the more i look into it my mind says yes but my heart says no forget it????

What other investment options did you consider? Have you given due consideration to some of the risks of foreign property, like currency, tax, market instability etc? How will you go about ensuring that you don't pay the 'paddy price' (which is usually about 50% higher than the local price?

great point rainy day i think the paddy price thing here is a joke we are paying way over the odds for overseas properties compared to local prices.What other investment ideas had you in mind.hungary looks a good option also.

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celticsteven said:

great point rainy day i think the paddy price thing here is a joke we are paying way over the odds for overseas properties compared to local prices.What other investment ideas had you in mind.hungary looks a good option also.

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Hi Steven,

I think that some investors pay over the odds for overseas property, but it's becoming less common in any country that wants to establish a long term market.

The more research, the better. Don't rush into anything without at least visiting your chosen destination for a few weeks or preferably, talk to as many locals as you can. Don't believe anything that estate agents tell you and don't buy any investment that is purely based on supposed capital appreciation. If it's a good investment, it should also rent well. At the minute in the market I'm familiar with (Budapest), 6-7% is a good return.

Hope it works out for you,
Budapest