Queries about buying property abroad

I was wondering about buying property abroad in one of the new EU states or one of the prospective new states. Perhaps people here have invested and could help me with some queries
Are the potential renters meant to be tourists or locals?
Its just when I hear figures like 400,000 Polish have emmigrated to Ireland + Britain since Poland's ascension, it make me wonder will the rental economy collapse in these countries as a result of mass emmigration?
Also when the developer offers the property with 3 years guaranteed income, do they actually end up renting the property for the 3 years or has the developer had to pay out of his/her own pocket?
Any word on how easy the properties have been to rent out after the 3 years guaranteed income has finished?

See for previous discussions on the subject.

Also you should check that there is a double taxation agreement with the country you intend to invest in.

I think your link is broken

Hi Joe - Try doing a search & you'll find several recent topics on foreign investments (including Poland).

Re: german property investment
hi

i've looked into buying property direct in that region but (for what it's worth) have come to the conclusion that
a. initial expenses (eg stamp duty, legal fees etc) are too high (at approximately 15% of property value)
b. local knowledge is missing
c. putting all eggs in one foreign basket is too risky

the Alternative Investment Market (AIM) is a market in London in which you can buy shares in companies that buy hundreds of properties in specific locations (check out dawnay day carpathian (DDC) for example). you can buy and sell these daily (albeit for a cost), the fact that they are listed companies means that they are run by professionals, and also your investment is diversified across hundreds / thousands of prroperties.

they provide return through dividends (typically they return a propertion of the rent collected), and also capital appreciation (or deprecdiation) is the value of the properties held goes up (or down)

this is by far the safest way to get exposure to foreign property

note that DDC invests in commercial propeertty (eg shopping malls). i reckon it's a good place to part a few. equest balkan is another listed company with a similar objective

I don't think AIM property companies would be great for novice investors. What about currency risk? What about risk of light regulation as applies to AIM companies (by comparison to FTSE companies)?