What Is Cheap Overseas Property?
Filed Under Uncategorized · Tagged: cheap property, emerging hot spots, value property
Yesterday I attended the OPP live exhibition speaking to property professionals and exhibitors at the trade overseas property exhibition in London. I thought a clear pattern would emerge.
Words like, “challenging market”, “nervousness” were banded sprinkled in the conversations. the inevitable with world “financial events” that sales were down. Well these did indeed crop up regularly, but what was really interesting were the very different thoughts emerging from both brokers, developers, lawyers etc.
Investors or Lifestyle Buyers?
Some developers were saying that that all their buyers were investors who focused on rental guarantees. Then there were others who said buyers have returned to how overseas property started. Namely, people desiring a place abroad for mainly own use and possible eventual full, or part, retirement.
There did not seem to be a particular pattern on whether this view was for expensive or cheaper properties.
Cheap or Expensive?
I was then quizzing others as to where the trend in on the maximum property price buyers are prepared to pay. The answers here were unanimous and that is its about low price and cheap. However, I would like to examine what is cheap.
What is Value For Money Property?
Well are we looking for cheap as chips? When we talk about cheap property, I think we usually mean a property at the lowest price possible that satisfies needs. I know we could buy a shack for a few cents - but it wouldn’t satisfy for most of us as a permanent residence.
What I am hearing, is the desire to get the very best value. This means widening the search to other locations and countries that may not have previously been considered.
Where Can I Find Value For Money?
This is subjective but what is clear is that we should as either investors, lifestyle or a mixture of both buyers is recognise there could be some very interesting options worth checking out. If you know where you want to be and there are powerful emotional ties, such as famil and friends nearby then you need only to research a small area.
But if you are after maybe a place to use for holidays and you have a budget of say $100,000, and you want to be overlooking the ocean and have existing infrastructure nearby then your choices could be anywhere from Brazil, Panama, Morocco, Tunisia, Egypt, Cyprus, Malta, Middle East, Thailand, Vietnam, South Africa and so on.
What Never Changes
Most in the overseas property industry know that the focus on the due diligence process is not only smart, but moreover, improves the whole buying experience for all.
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What do you think? Let me know - your comments are welcome
Hello, this is Lance Nelson and welcome to my blog, Overseas Property Talk - the authority on investing in overseas property.
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