With being a UK residential property investor, I had never really thought about looking to join the ranks of the international property investors and make an overseas property investment.
But once my UK property portfolio was established, I started to cast my eyes on the primary countries where the UK investor has typically bought. I soon realised that there was a huge real estate investment world out there and that I needed to do my research thoroughly. mm.hr
With the many established European markets like France, Spain and Portugal and, of course America, primarily Florida, the opportunities to find a below market value property, like the methods by which I had built my UK portfolio, was therefore highly unlikely.
I then started looking towards the Caribbean, but here I found two main problems with the purchase and one major issue with the access. The two main problems were:
a. The property prices were overinflated in a falling market
b. Many of the possible developers had many sites for sale, but had not actually built much on these development sites. Show homes and some roads were about the only construction on most of the sites viewed.
The major issue was the availability of affordable access for the possible holiday renters in that, unlike Europe and Florida, the flight costs are quite expensive and prohibitive.
I then turned my attention to some of the emerging markets around the Mediterranean. My research led me to look primarily at Croatia and Morocco. Again I felt that the developments were overpriced even though the build standard and overall finish were of the highest quality.
So at the end of this research phase, what have I decided to do? With the current financial uncertainty in the UK, I have decided to put my international portfolio investment on hold. This does not mean that I will not be investing in the future, but feel that my holiday home in Florida is enough exposure at present.
Dave P Thomas