Quote:
Originally Posted by New Home in Turkey
Everybody having something to do with overseas property investment, know that Spain has been for quite a long time the unbeatable champion in this business.
Not that I am an expert but I think that this was mostly due to the very fact that Spain was the very first country to open its door to overseas property purchasers, was a member of the EU, and of course attracted the UK market, which I think is the strongest market in this business. Of course, no need to say that Spain, by its beauty,history etc, was, and still is a magnificent country.
However, things seems to change slowly these days. Prices in Spain are way over the top, almost everyday a new article on a bribery scandal makes the news, over development makes the entire business crackle.
To sum up, "new" competitors such as Turkey, Egypt, Morocco etc are now under the spots, and try to expand their influence in the business.
The question is: Does one of these emergent markets take the throne or will Spain always stay as the primary market for overseas holyday home purchasers?
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Spain has always been popular due to being open to the British market early. It offered cheap food, cheap booze, cheap fags, tons of sunshine, and only a 3 hours away to boot.
Then you could get your papers, full English breakfast, visit a pub run by a Brit, and get by speaking English. And you can play golf.
It had a lot of attractions. It still does. However, we are all aware of properties bought by British citizens being bulldozed due to illegal building.
At the same time, Knight Frank published their Q4 property hotspots which were published in May's edition of 'A Place in the Sun Live' magazine (page 18) which showed Bulgaria again in 1st position with increases of 33% for the year.
Bulgaria has the longest history in Europe, has heritage sites galore, invented the computer, the contraceptive pill, has gorgeous mountains and beaches, white water rafting, and so on and so forth.
It has a lot of attractions. It still does. However, in certain areas it is seasonal, and because of this will attract a shorter rental period than one may be led to believe.
Australia, Brazil, India and the Caribbean offer attractive deal's sometimes, but for others is simply an investment too far away from home.
Every country can shout from the rooftops about the benefits of investing there. Don't be mislead. Look into your investment. Ask yourself this question everytime before you even start to look.
"What is it that I want to achieve"
When you have this answer, THEN start looking.