You are here: Home Page/In-depth Features

Moneyextra.com

Where to buy Property Abroad: An Investor's Guide

Additional Services

 

The prospect of falling house prices and the very real crunch on credit is not the most typical combination of events that drives people to consider investing in an overseas property. Yet the 2008 Where to buy Property Abroad: An Investor's Guide has found its way into all good bookshops regardless.

Aside from the unfortunate and no-doubt unforeseen timing of this book, published by Crimson Publishing, it is certainly comprehensive. Authors David, Cox and Ray Withers divide the 350-page paperback clearly down the middle into what reader-investors will actually want to know - and unashamedly, this does not involve culture.

Thinking of buying abroad? Do you need to transfer currency overseas?

Part I of the guide deals with 'understanding where and what to buy abroad'. The section addresses such aspects as analysing property markets, the pros and cons of buying off plan, inspection trips and the cost of professional advice. It also takes a swipe at the traditionally 'greyer' aspects to property investment such as the real effect that a major events, like the Olympics, has on the price of surrounding property.

Part II is a simple breakdown of the investment potential of each country, listed alphabetically. It is clear from the inclusion of the likes of Mongolia that this is one of the most up-to-date guides of its kind, as the world and the time it takes to 'get there' shrinks with each year. (Real estate growth in Mongolia for your information currently stands at 30% per annum.)

Need an overseas mortgage for buying abroad?

But the good news is, when we arrive at a time when buying in Mongolia raises as few eyebrows as a buy-to-let in Sheffield, there will be another Where to Buy Property Abroad at the ready. This is because, very sensibly, the guide is updated annually.

This also mitigates the need to ever type 'property investment abroad' into Google in search of some real-time information, which leaves you wading through sales pitches or just plain inaccuracies. The annually updated edition however, does beg the question what locations will be included by 2018. The moon suddenly does not seem so far away!

As Where to Buy Property Abroad is penned by an unbiased source, one of the guide's most useful aspects is its 'both-sides-of the coin' approach to some familiar subjects. For example, it calls the cliched tip that investors should 'buy near airports serviced by low-cost airlines', a 'risky strategy' and reminds readers instead that; "The value airlines can be ruthless about cancelling routes that are not proving sufficiently popular or if airport costs rise." In other words, the property investor of today needs to be a little more savvy.

Indeed, the key word in the title of this book is 'investor'. Readers after a Lonely Planet-style guide into how to soak up the soul of a country should look elsewhere. This book makes no bones about its purpose, which is money, property - and money.

While it's difficult for any book with this sole agenda to remain interesting, transparent and comprehensive all at the same time, Where to Buy Property Abroad makes an exceptionally good attempt. In short, anyone prepared to invest in an uncertain commodity situated in a foreign and unfamiliar country, should hardly baulk at the £12.99 cover price.It could be their best investment yet.

Where to buy Property Abroad: An Investor's Guide, by David Cox and Ray Withers is published softback by Crimson Publishing, price £12.99.

Pounds and pence into dollars and cents? Moneyextra's Currency Converter can tell you what you will get.

21 January 2008 © Moneyextra.com

back

Moneyextra.com recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.