Top places to make money from a property
There have been many reasons to feel gloomy about property over the past few years. Many Expats have reported that their overseas homes have lost value as Europe and much of the wider world has seen prices falling but don’t despair because there are nation’s which provide pockets of profitability. We take a look at some of the locations that are still providing expats a profit.
The beautiful island of Sardinia is just as sunny as the more popular islands of Majorca or Cyprus and its quiet laid back pace of life makes it an ideal location for expats looking to retire to sunnier climes. The island also hosts many unspoilt coastal areas and picture perfect scenery. Property prices in the city of Cagliari are expected to soar as old formally rundown mansions are being converted into stylish apartments.
According to Swiss estate agents wealthy Brits that have been stung by new tax laws have been piling into the Swiss property market. The alpine ski regions and particularly Geneva has seen demand sky rocket and with the Swiss government pegging the nation’s currency to the Euro property prices have plunged by almost 10%. By investing now you are expected to make a return by as soon as 2013 with property prices set to reverse its losses and grow by 10%.
Being in the headlines for all the wrong reasons, Greece is a tragedy that could very well end being a golden opportunity for expats. The country is in its fifth year of recession and mainland property prices have fallen by up to 10%. Now is an ideal time to invest in the country as once the crisis ends, which it will do one day and could see your property’s value soar as the nation recovers. The best places to invest are Corfu or Rhodes where property prices are expected to rise by 15% over the next five years.
The world’s largest economy is finally beginning to reawaken. Economic data coming out of the country over the past few months has hinted at a slow but steady recovery from the Great Recession 0f 2008-2011. Some of the world’s leading banks including HSBC recently revealed that the United States is now offering British Expats the best value for money when it comes to property. The US National Association of Realtors agrees.
“The market is recovering, with consistent increases in sales and prices. Experts predict the largest increases will be in known areas such as California, Florida and New York. As the nation’s economy has shown signs of recovery it has become easier for expats to acquire a mortgage of up to 75% and property prices are set to rise by as much as 20% by 2016 in key states.
Still the most popular destination for UK expats the South of France is one of the best valued destinations. Since 2008 property prices have fallen by as much as 20% in the region of the Tarn. Now is an ideal time to buy property for cheap as it is expected that property values will rise by 5% in 2013.
If you know of any other locations that are a bargain for property for expats let us know on Twitter!