Overseas Investment

26 year old with circa €60,000 to invest in an overseas property,looking mainly at Berlin or possibly Poland,I feel there is good value to be got there and the potential for capital appreciation looks good,would appreciate any reccomendations or suggestions as regards location or other matters

Perhaps you saw this http://www.askaboutmoney.com/showthread.php?t=23482

Thanks onekeano,so basically keep my money here in Ireland,oh well the get rich quick dream is fading away so!!!!!!

Hi Duck, I am in a similar situation to your's- am in twenties and looking to invest approx the same amt or maybe a bit more in investment, currently looking at the Polish market and have done some research but there's so much more to do! Would welcome any ideas/suggestions.. I am going to Poland in a few weeks to get a better idea of the market, any thing in particular to ask the estate agencies?

From a rental point of view don't listen to the estate agents. Arrange to meet a rental agent and find out what areas are in demand and what rents are available. I work out the yield and then calculate a max price I am prepared to pay. Agents will put 50% or more onto the actual rental and will always tell you it's easy to rent!

Find out in detail the level of finishing for the apartment if it's a new one. This varies a lot so get a detailed list.

Well Duck, I was in a similar situation with less money I have gone for a Studio in Cape Verde(Villa Verde on The Island of Sal) it cost 69K using MacAnthony Realty International. Contracts are in the post to me at the moment.

26 year old with circa €60,000 to invest in an overseas property

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Do you already own your own home here?

If not, be aware that if you acquire property anywhere in the world you will subsequently be regarded as a non-FTB by the Revenue when buying a house in Ireland, potentially landing yourself with a hefty stamp duty bill.

Mayotom,

Would be very interested to hear how you get on. have been looking at property in Cape Verde for a whicle but have not had the courage to do anything yet.

I would also recommend that in most cases, particularly if you're planning to live in Ireland for the foreseeable future, it's a much better idea to buy your own home here first before spending money overseas.

helan72 said:

Mayotom,

Would be very interested to hear how you get on. have been looking at property in Cape Verde for a whicle but have not had the courage to do anything yet.

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I went over there on a viewing trip in January, I would highly recomend this. it will give you a chance to see what you are buying into. and a chance to meet the locals and other people in the same situation as yourself. I think there is great potential in Cape Verde especially Sal, but be carefull I have heard stories of planning issues leaving people high and dry.
Do plenty of research on the Builders and the Company you are buying through. try to use reputable companies. there are plenty of cowboys in the business(worldwide)

mail me and I will send you presentations on Villa Verde. (file is 8.3MB)

Mayotom