Welcome BrianC.

The brief you gave leads me to think you may be better being part of a syndicate than buying a far away property that you will have difficulty managing if your team on the ground let you down (property manager, leasing agent, etc.)

Here’s a quick note on 3 alternatives to buying bricks and mortar that may suit your needs.

1) Some developers provide savings accounts with British Building Societies. These accounts offer in the region of 17% to 20% pa (net.) Your money is tied in for a period (normally 2, 3 or 4 years.) During that period your money doesn’t leave the account, but you will see the developer adding interest every month. Normally the account will be in the developers’ name, but they won’t be able to take the money out. (Condition of account is that money can only be returned to those putting money in – though this is clearly something you would want checked by your solicitor if going down this route.)

2) Some developers offer a ‘guaranteed’ return if you are prepared to lend them money for a year or more. Perhaps the most well known example of this is Midas PLC. They have a 12 month offering of 25% and land for one of their developments is used as security for your stake. This is a little bit riskier than (1) above, but provides a hands free means for you to reap a 25% return each year.

3) Closed ended property funds / syndicates. Until recently this was the preserve of the rich and it would have been tricky to be part of with 60k Euros. That’s changed. These funds/syndicates are set up for like minded individuals to club together and act together. The basic principal is that you are providing the financial backing to property experts. They use this money to acquire land/projects where they can add value through planning permissions, build process, etc. These types of investment typically look to provide returns from around 20% to 50% pa, though some have delivered much more.

You’ll have noticed that some of the posters have vested interests (working for agencies or perhaps surveyors working in particular markets.) I too fall into that category. I act as an introducer for friends (real and cyber) looking to make the same investment I made with Oxford Management – a company that provides funds focussed on Easter Europe.