Top Tips For Investing In Overseas Property In 2007

Top Tips For Investing In Overseas Property In 2007

Author: Nicola Christie

The bods in the know at Rightmove have spoken: Morocco, Cyprus and theCaribbean are officially the top destinations in which to invest your money inoverseas property in 2007. The experts chose the locations based on currentprices and rental and capital growth potential.

Thanks in no small part to its growing accessibility, owing to the recentintroduction of bargain priced flights, Rightmove Overseas also waxes lyricalover Morocco´s ‘lush gardens, olive groves and palm trees coupled with medievalalleyways and the vibrant market stalls´. This exotic excitement is deemed keyto the country´s increased popularity with today´s increasingly shrewd investorswho are notably keen to branch out and purchase great value, cheap propertyoverseas - before everyone else gets there. The website points out that flightbookings alone to Morocco were up 295 per cent in 2006 compared with theprevious year.

Prices for Moroccan properties range between £100,000 and £125,000 onaverage, but investors have increasingly been searching for something a littlemore special than your average dilapidated riad to renovate, being attractedinstead to high end properties such as those at Port Lixus, situated near toLarache, an Arab-Andalusian city, and an area noted for its unspoilt nature andhistory.

Cyprus investment makes sense

Cyprus has grown in people´s estimation as a viable investment opportunity,thanks to its relatively inexpensive living costs and great climate.Traditionally a popular holiday destination, people are waking up to the factthat buying cheap property in Cyprus as a buy-to-let decision makes soundfinancial sense, with rental demand high. Property in areas such as Alsancak andBafra, in the north of the island, offers savvy investors the opportunity forexcellent capital growth and rental returns. The Residence is the first privateresidential development set in the fantastic tourism area of Bafra. This luxuryapartment complex will benefit from a host of facilities. Close to the newlyplanned Marina and Botanical Gardens, this great development is only a 2 minutewalk to a superb white sandy beach. The Residence is being marketedinternationally as a prime holiday destination and domestically as a luxuryresidential complex and it is anticipated that the development will achieve ahigh year round occupancy rate.

Caribbean property one of top overseas favourites

The Caribbean has seen property prices rocket thanks to the recent Cricketworld cup and it seems as though the overseas property investment world has gonecrazy for this most beautiful part of the world. Traditionally limited tointerest in Barbados, St Lucia and Barbados, attention has turned to La IslaMargarita, known as the ´Pearl of the Caribbean´, situated 38km north east ofthe mainland of Venezuela and far from the track of Atlantic tropical storms.Stunning property is available at unbelievable prices and homes are going veryquickly indeed, investors spurred on by the simplicity and beauty of thedevelopments on offer as well as their guranteed rental income. One suchdevelopment is that marketed by Property Club International on Coche Island,lying just 8 miles south of Margarita and just 11km long and 6km wide. Here isthe Isla Spa Resort, a veritable haven of relaxation and five star pamperingfacilities. Coche Island, together with Margarita and Cubagua, form the state ofNueva Esparta, and is a tax and duty free zone, and there is no VAT on theisland. Being accessible by boat, it is only a short ride from the island ofMargarita. There are direct flights, the majority of which are through Caracasin Venezuela and from there it is a short 35 minute flight to Margarita.

Nicola Christie is a freelance expert in emerging property markets andcontributes regularly to national and international property publications bothin Europe and worldwide. She also works extensively with developers and agentsas a consultant on identifying key emerging markets and regionalhotspots.