Buying a Property Abroad

[Turamber]

With my 40th fast approaching it seems like a good time to start investing: a holiday property abroad is my preferred choice. Would be grateful for any pointers or tips.

In all likelihood the property will be a one or two bedroomed apartment in Turkey. Have always wanted to have a place in Istanbul, but at this point I might settle for something in more of a holiday area like the Turquoise Coast or Aegean. Lots of developments shooting up all over those areas which can be good from a purchase price point of view (lots of competition), but not so good (possibly) from a rental or resale perspective. Also I am not sure if I really want to have a place in the middle of a building site (hey, I am from Birmingham - have enough of that already!).

 

[Calaen]

There are alot of companies around that will advise you on buying abroad, of course these will charge you a fee for the help but you may be able to get some free information from these people before you make your decision.

 

[Gengi]

On a similair note to Caelan,

There is a fair on at Newcastle Racecourse this weekend all about buying property abroad, I am sure they are held all over the country, maybe see if there is one on near you and check itout ?

Later

 

[Tom]

I believe Bulgaria is a very cheap place to buy property right now, labour is cheap as well. Might be worth considering as the country apparently is on the way up.

 

[TdC]

there's a great flat in the netherlands that I'll sell ya for "friend" prices

 

[Mobius]

Its alot of fucking hassle I'll tell you that much! We're emigrating to Australia in February and all I bloody hear is about buying property. My mums gone into overdrive. Its taken months to sort out already, and we're not even close to finalizing it all yet. What we're doing is renting a place out there, giving us a while to find somewhere more permanent. (We're raising the funds by selling this house)

 

[GDW]

Get two good solicitors. A UK based one who speaks the native language of the country in which you are buying the property and is well versed in the laws of that country. The second solicitor should be based in the country in which you are buying the property.

Effectively the UK based solicitor is there in a secondary role to ensure you dont get shafted by the local one.

 

[yaruar]

With my 40th fast approaching it seems like a good time to start investing: a holiday property abroad is my preferred choice. Would be grateful for any pointers or tips.

In all likelihood the property will be a one or two bedroomed apartment in Turkey. Have always wanted to have a place in Istanbul, but at this point I might settle for something in more of a holiday area like the Turquoise Coast or Aegean. Lots of developments shooting up all over those areas which can be good from a purchase price point of view (lots of competition), but not so good (possibly) from a rental or resale perspective. Also I am not sure if I really want to have a place in the middle of a building site (hey, I am from Birmingham - have enough of that already!).

All i hear about all day is buying property in Istambul from my Turkish co-worker. Apparantly it's a great investment.

 

[.Wilier.]

Bulgaria isnt as cheap as it was (understandably I guess) although if you buy a run-down shed in a town, its really cheap. Stuff on the coast isnt such great value atm, although when (if??) they join the EC I guess prices will sky rocket.

 

[]AC[dRuM]

Me the wife and kids and my friend his wife and kids are off to Australia this December, every time we go and stay at Daves Brothers place I never want to come home again, weather is great, people are great you most definitely get more for your money property wise and people seem more keen to go out and do stuff as a family all over, be it just eating out or socialising.

Every time we go we always end up mooching through the property sections or looking at land for sale..

Anyone else know anyone who has left and has some good / bad stories?

 

[Deadmanwalking]

While Australia is a wonderful place and all the rest of it. Along with other places, South Africa, mexico etc.

If it is just for a holiday home, the cost and time taken to fly out there is a major factor. If your having to spend several thousend every time you want to go and take advantage of your new property it may be time for a reconsider.

While you could spend more in the initial investment (Cheaper debt as well), and then save a bomb on the travel over time.

 

[Bodhi]

I hear you can get a good price on a 3 bedroom semi in Chernobyl.....Prices should rocket in about 100 years as well!