Hot Global Property

[greg_si]

Hey all,

I'm currently looking to purchase property overseas.

I am a sydneysider so the idea of buying here turns me off because of the stupid price tag that goes with all our real estate. I'd rather just rent, and build up a portfolio o/seas.

Where do you think I should be looking?

At the moment I have my eye on Bulgaria, Mexico, Costa Rica, and Panama.

Does anyone own property outside of there own country?

[nado]

Checkout Fiji maybe. I was over there a few months ago and the development was crazy.

The government is also giving periods (up to 20 years) of tax free income depending on how much you spend. Though that may only apply to building a resort... hmm.

[greg_si]

Where are some nice places in Fiji that you saw?

[nado]

Where are some nice places in Fiji that you saw?

I wasn't really looking at the time (being on holis and all )

But there were a lot of very good looking, "developed world" housing development areas going up around the coast (so within walking distance of water etc).

It's still a developing nation though, so you'd want to pick the areas wisely. i.e. if you were wanting to rent out properties you'd probably want to target tourists or the rich areas of Fiji (though I'm not sure where exactly they are).

[pgaluck]

For the past year i have been residing in London, England. Europe is definatly a good place to start. It will depend on how adventurous you are and what sort of money you are intending on spending.

Counties like Spain, Bulgaria, Andorra and United Arab Emirates are have slow property prices right now but they are all just waiting to boom.

Even in England the same thing is happening. The house i was living in gained 20% in value over the year i was staying in it. Obviously it might be out of your price range but its definatly worth a look.

China is another posibility, its economy is rising but the month so if you get in there fast there are endless possibilities waiting for you.

[nado]

Oh yeah, I heard somewhere that Dubai is rapidly growing with property value increasing 10-20% a year. Though I then remember reading a blog post that said they expect you to pay a large upfront payment on a property (if you're building).

Checkout these two sites:

http://www.thecreativeinvestor.com/c...lty-index.html
http://www.biggerpockets.com/

[greg_si]

Saw something on Dubai last night actually....

They are building the tallest building (800m) globally comprising of residential, and commercial tenants...and a 70 level versace hotel.

Starting price for residential property is $2 million.

I've got friends working over there in property development who say its crazy over there at the moment.

40 + degree heat in summer....but at least they have an indoor ski slope to get away from the heat. That would be cool to check out!

[DECARealtor]

Come to the U.S. and into Michigan........I can show you a few places if your interested. It would also be helpful if you let us know what your price range is.

[pgaluck]

haha yeah greg, its definatly the place to be if your a true investor. Theirs a place called Emirates marina within dubai which is made from recliamed land in the shape of a flower. Its basically a hoarde of islands made into a residential estate in the arabian sea. Buying one of those now will net you millions in years to come.

If you can afford one in the first place.

http://www.emiratesmarina.com/

[YPAL]

Bulgaria: Was until a few weeks ago thought of as a great place to invest but people are not starting to realise that there are slow rentals, resales are non existent and the infrastructure is very poor.

Dubai: Very over hyped in my opinion, some developers are going bust and taking all of peoples investments, with so many new homes being built you cannot sell a second hand home and with such fast paced development you may be sold on a view from your new penthouse only for their to be an even bigger skyscraper blocking it the next time you visit.

UK: There are plenty of ways to make alot of money from the UK property market even now. But not if you are on the other side of the world as you need to be able to react quickly.

My tip is Thialand, not the overly developed areas but you can still get amazing beachfrnt villas for a couple of hundred thousand pounds. Bargain.

[The Stealthy One]

I can't recommend anything on any of the countries except for Bulgaria. And I have to say from my business experience there, don't choose Bulgaria. It is a very crooked country. They are attempting to get things straight, but so far they have not. I would place my money somewhere else right now. Out of the countries you listed, Mexico would be my first pick.

[Mozzie]

Hi

I live in London - we moved here in November 04 and rented for a year till we found something we wanted to buy.

We bought a short lease (10 years) on a blue chip one bedroom flat in Knightsbridge - and since legally we were allowed to buy the long lease afterwards we fixed a total buying price with the vendor of £600k

We moved in on 19 Dec 05 and to date the flat has risen in price by £95k

It has been a stretch but it will be worth it.

I have looked at buying abroad and see enormous pitfalls - France is a really tricky area because of huge taxes - though many Brits buy there.

Spain has had its day - and at any rate don't ever buy in a building site - i.e. resorts where they are still building - 1. you'll not see a return till the resort is finished and 2. you won't sell your place easily when you want to get out.

Dubai is a case in point - it's just a building site - so you have to be in it for the long term.

I read the other day that St Lucia has Villas from £250k and 80% occupancy giving a 6-8% ROI which didn't sound bad - and you get to take a holiday in your property when you want.

A lot of Brits are buying in Bulgarian resorts at the moment -

For safety I would say you are always better off buying in a recognised rather than an emerging market - the latter is always risky. Big profits to be made if you're lucky but lots of people have come unstuck - and you can't be on the spot all the time to sort things out.

Hope that's useful
regards
Mozzie

[Scott Taylor]

one word...


DUBAI!!!!


The hottest property market in the world at the minute

[YPAL]

one word...


DUBAI!!!!


The hottest property market in the world at the minute

Which is exactly why you should not by there.

You also have the added problem of a non democratic society and the promise after failed promise to legalise freehold.

Not worth the risk.

[YPAL]

P.S

It is also not the hottest market at the moment, the English country home market is seeing massive growth anf sale prices upto twice as high as guide. Fueled by city bonuses etc.