Excellent article on investing in overseas property>>

Re: >>Excellent article on investing in overseas prope

Interesting nugget from [broken link removed]

Whether the high levels of capital appreciation sought by investors in these areas [EU Accession countries] will materialise is debatable - the likelihood is that it will happen in some areas, but not in most. Emerging re-gions are only for the investor taking a speculative punt - it is not advisable to borrow money in the hope that rentals will cover repayments, this is a recipe for disaster in regions where future economic health is very much in the balance.

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Cyprus Property

Interesting comments on the Cyprus market above.

I can confirm that the healthy appreciation of both land and property (predicted) has actually happpened already. I have lived in the Paphos area for the past five years and property has increased by about 30% in the past twelve months alone
The foreigner investment market and indeed the holiday market is heavily dominated by the Brittish and the property market most definitely moves in tandem with the UK market.

However there are signs that the Buy to let market here is becoming saturated. More and more rentals are appearing on the classifieds and the yields are diminishing quickly.

Also this is a market where you need to know what you are doing. All that glitters is not gold. The building industry is not very well regulated and there is little protection for the foreign investor that makes a "mistake"
A fair share of cowboy developers exist and the build quality is often terribly basic / bad.

Title deeds in this country is a subject to be studied at length. Sometimes they are never issued and very often
the land remains registered in the developers name even after the sale has closed. It is not a safe system as we know it in Ireland.

If you decide to invest make sure you research well and visit thhe Cyprus property boards for guidance.

Re: Cyprus Property

Aphrodite

Can you name a couple of reputable developers in Cyprus? I would like to look into investing/holidaying there.

Slim 8)

Re: >>Excellent article on investing in overseas prope

See [broken link removed] for another good reason to tread carefully with overseas property investments;

UP to 200 Irish people have lost between €15,000 and €50,000 each because a Bulgarian apartment complex property deal they bought into has gone bust.

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It would be very interesting to see how detailed was the 'background check' carried out by the Irish agent on the Dutch developer.

Brendan said:

The Sunday Business Post's property section has a great [broken link removed]by Diarmaid Condon on the practical, legal and tax implications of investing in overseas property.

It is by far the most comprehensive and practical piece I have read on the subject.

I hadn't heard of Diarmain Condon before. He is involved with a company called Independent Property Consultants which seems to sell Spanish property and they have a useful[broken link removed] .

By the way, I still think that investing in overseas property is not a good idea. But if you are going to do so, you should read this article.

Brendan

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Hi Brendan

I notice that you posted this a long time ago. Do you still hold the same views about overseas property investment?