where to buy an investment property overseas up to a max. of €85000.

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limerickmick

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hi all-first post & would be grateful for any advice

thinking of releasing equity in ppr to fund an investment property overseas up to a max. of €85000.

any ideas or advice ?

thanks
 
Is there a particular reason that you feel that foreign property is the most suitable investment for your needs right now?
 
Re: where to buy an investment property overseas up to a max. of €85000.

It all depends on where and what you want to buy, and what you want to do with it. Plus with that budget you'll be aiming at something around €50-60,000 in order to account for taxes, fees and kitting out the place.
 
Myself and the girlfriend signed contract on 3rd January for a two bed solidly built apartment in a small town in the old East Germany.

Needs to be decorated, needs a new kitchen & bathroom.

The price was ........ wait for it .............. €12k.

I'm not joking in the least. Germany seems to be overlooked where Foreign Investors are concerned.

If you don't want to buy in an 'out of the way' place, then perhaps Berlin or Munich would suit you. They have yet to be tapped into (in the overall scheme of things) by Investors. There's still deals to be had.
 
Re: where to buy an investment property overseas up to a max. of €85000.

Holy well,
I have to ask....
what do you plan doing with your apartment? is there a rental market?
Can you advise how you found this apartment - any websites to recommend? (I can read German if you have any in German as well)
Did you go and visit the area?
Sorry, lots of questions!
 
I think it's possible to buy properties for 12,000 euro in many rural parts of old East Germany as well as what is now referred to as 'Eastern Europe'. Not sure if these are wise investments though.

I would also be interested to hear what rental markets are like in relation to this German property. Also, how accessible is the property from Ireland should you need to fly out at short notice?
 
Re: where to buy an investment property overseas up to a max. of €85000.

HI ,
first post by me (i hope of many)
a friend is looking seriously in Poland and Krakow in particular,he's fairly astute and already has a few properties here(also has a Polish Mrs) so it helps.
web site if anybody is interested
www.krakow4u.com.pl

thanks
 
Re: where to buy an investment property overseas up to a max. of €85000.

The property is located in a town called Muecheln, in the Halle (Saale) district of Saxon Anhalt.

When we renovate the property (we plan on spending a further €12k on this), we will rent one bedroom for €250 per month to a family member, and use the other for us when we visit (4-5 times a year).

My partner is from this area, and we found the property through the Merseburg Querfurt Sparkasse (the Bank - they also sell property), if you do a search on the Net, you will find them & available properties they have.

A Notar sorts the Legal work in Germany, and it's usual that both parties use the same one. All Fees cost us just €800 to complete the sale, and it was pretty painless.

Admittedly, there are not alot of properties who come up this cheap, but the other properties are still very very reasonable.

Let me know what you think!

Remember also that 79% of German people rent for their lifetime, and do not own where they live, so if you're worried about a rental market, think again!

As regards access, we fly from Dublin to Berlin and get a 2 Hour Train Journey to Muecheln. The property is across the road from the station, so no problem there. We did all our homework!
 
Re: where to buy an investment property overseas up to a max. of €85000.

thanks for response-clubman;

thought that foreign property offers better value for money when compared to this country.
also rental returns cover mortgage so getting an asset for very little outlay.maybe this is probably a simplistic assumption but have to start somewhere
 
Am enquiring about Berlin. Also having a look at Budapest.......I know I'm a bit late but I think places like Bulgaria are a bit overhyped. any comments ?
 
Re: where to buy an investment property overseas up to a max. of €85000.

limerickmick said:
thanks for response-clubman;

thought that foreign property offers better value for money when compared to this country.
also rental returns cover mortgage so getting an asset for very little outlay.maybe this is probably a simplistic assumption but have to start somewhere
Click to expand...
Have you crunched the numbers including management expenses, tax on rental income and capital gains both here and abroad and so on to assess the viability of this option? You haven't said why you consider property better than any other investment option open to you. If you already own property (including your own home) and don't have any other significant savings/investments then perhaps you should be diversifying a bit more?
 
Re: where to buy an investment property overseas up to a max. of €85000.

Hi Clubman,

I never cease to be amazed by our generation's obsession for property investment of all types. Your observations are pertinent and I have seen them repeated on several Property Investment threads; but they do not seem to have much of an impact on the enthusiasm of the average poster. I get the feeling that a lot of people buying property now for investment purposes are not even considering looking at any other asset classes. Caveat emptor I suppose.
 
We have a good Lithuanian friend who is taking us to his home country to view some property in a few weeks time.
Apparently there is good value to be had and while rental income is lowish the prices of peoperty are increasing there all the time.
 
Re: where to buy an investment property overseas up to a max. of €85000.

"our generation's obsession for property investment of all types"

Of course our generation is interested in property as most (almost all?) property owners are sitting on a property (or 10) that has increased in value. We are selling our home for 3 times what we paid in 1999.

undoubtedly it will all end.

meanwhile I find the opportunity to invest in foreign property very attractive. My reasoning is that if it is a long-term investment, and I do not/will not need access to that money, then, sooner or later property in the EU will fall in line with each other. I may make a profit, a very good profit or a loss? But I will also have some good holidays there and get to know anoitehr country.
 
Re: where to buy an investment property overseas up to a max. of €85000.

pernickety said:
My reasoning is that if it is a long-term investment, and I do not/will not need access to that money, then, sooner or later property in the EU will fall in line with each other..
Click to expand...

Falling in line with each other doesn't necessarily only have to happen (if it has to happen at all) with everything rising to the level of the frothy top of the market does it ?

There's many ways that everything could end up at the same level - prices may go up as well as down etc....

Of course I could be totally wrong .. but so could you :)
 
Re: where to buy an investment property overseas up to a max. of €85000.

pernickety said:
But I will also have some good holidays there and get to know another country.
Click to expand...

A very nice way of looking at it Pernickety
 
Re: where to buy an investment property overseas up to a max. of €85000.

There is still good value to be got in Turkey. Very low legal and fitting out charges so 85k should get you a very decent 2 bed in a good location including fit-out, legal fees etc.
 
Re: where to buy an investment property overseas up to a max. of €85000.

2706eilis said:
There is still good value to be got in Turkey. Very low legal and fitting out charges so 85k should get you a very decent 2 bed in a good location including fit-out, legal fees etc.
Click to expand...
Would it be earthquake proof or insurable for such an event?
 
Looks like there's good value in Zimbabwe, some beautiful properties too!

[broken link removed]

but my tip as an up and coming has to be

[broken link removed]

Listings seem to be a bit sparse though...
 
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