Overseas Property Investment - where?

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sparrow

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Where's 'hot' at the moment for property investment? A buddy of mine has about Euro 60K and would like to investigate buying a small 1/2 bed apt abroad. I've mentioned that this is not a lot to play with for Irish/UK/Spanish property but he is interested in hearing about Hungary / Bulgaria or any imminent Eu members.
 
What is his logic in choosing foreign property over the many other forms of investment open to him?
 
Bulgaria is a good place to invest but you need to know a bit about the country. Everybody will talk about Sunny Beach but if you go there you will see that there is far too much building going on there and already developers are struggling to sell new apartments. The area to buy is in the Centre of Varna or north of Varna, for example Balchik is a great town and there is an international golf course being built 3 kilometres outside of Balchik i.e. great rental potential.
 
In my opinion, before your friend considers investing in property (or any asset class for that matter), it would be wise to outline his/her strategy first. i.e. What does he/she want to get from it? Income, capital? How much return would he/she settle for?

A sure way to increase ur risk is to follow the herd and head for the "hot" locations.

The fact is that any location where u can achieve ur objective is a good location. For you, this could simply be around the corner or it could be in timbuktu. I would advise ur friend to listen to advice but make his/her own decision at end of day and not simply follow the crowd to the latest hot spot.
best of luck
 
hmmm said:
Cape Verde? Please god tell me you were joking.
Click to expand...

Well said. It has negative connotations for me because my brother broke his neck there a few years ago (survived and is able to walk again but his hand movement isn't great), anyway the facilities there are basic at best, especially the medical facilities. A real ar*****e of nowhere type of place.
 
What about Fallujah or Mosul? Must be some "bargains" there, and its hot!
 
Ok I suppose I should defend my 'Cape Verde' recommendation and that is all it is...


1. Its only 1 hour South of Canaries.
2. All year round Sunshine (Warmer than Canaries)
3. Government is totally behind Tourism Push (V. IMPORTANT).
4. Major tourist 'villages' already being built.
5. New International Airport opening this month on main Island.
6. Europes nearest 'Tropical' Island - We travel extra hours to Bahamas. Mauritus etc)
7. Direct flights from a number of European capitals UK soon to follow.


I am not saying it is a short term investment but if you can wait 10 to 15 years you are looking at a serious rival to the Canaries Islands.

Humphrey.
 
Fallujah:

1. Very underdeveloped accomodation sector, much of which is run down or shot through
2. Lovely sunny climate
3. Just south of Turkey which is very popular with tourists
4. Airport in Baghdad (30km away) recently reopened to commercial flights, it is expected the occasional mortar shelling will stop soon
5. Direct flights from various military airports in the UK to Baghdad - can Heathrow be far behind?
6. You can buy a 4 bed apartment for $5k. Compare this to $400k in Terenure! Cheap or what.
7. Region has massive quantities of oil and gas which will attract investment
8. Security is not a problem owing to the columns of US marines driving through on a daily basis.
 
hmmm said:
Fallujah:

1. Very underdeveloped accomodation sector, much of which is run down or shot through
2. Lovely sunny climate
3. Just south of Turkey which is very popular with tourists
4. Airport in Baghdad (30km away) recently reopened to commercial flights, it is expected the occasional mortar shelling will stop soon
5. Direct flights from various military airports in the UK to Baghdad - can Heathrow be far behind?
6. You can buy a 4 bed apartment for $5k. Compare this to $400k in Terenure! Cheap or what.
7. Region has massive quantities of oil and gas which will attract investment
8. Security is not a problem owing to the columns of US marines driving through on a daily basis.
Click to expand...

Ironic thing is you may be dead right ... if the Yanks pull out !
 
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