Overseas property or local real estate?

Discussion in 'Property Market News and Trends' started by totallyproperty, Dec 20, 2014.

  1. totallyproperty

    totallyproperty Administrator Staff Member

    There will be many opportunities to make money in the real estate market during 2015. The question for many people is, do I stay local with markets that I know very well or do I venture overseas to pastures new?

    Are you looking overseas for 2015 or sticking with your local real estate market?
     
  2. Veronica

    Veronica Administrator

    If people are looking to make money in real estate they are better to stay local with a market they know.
    Buying overseas is only a good idea if looking for a holiday home or if retiring overseas to get away from the cold etc.
    If you do buy overseas it is never a good idea to buy off plan as far too many things can go wrong. So many people have had their fingers burnt buying off plan overseas only to have the developer go bankrupt so ending up having paid for a property they will never see completed.
    Buy a resale property where you can see exactly what you are getting.
     
  3. loribarnaby

    loribarnaby New Member

    Buying a piece of property in another country is a good strategy for diversifying your investment portfolio but it’s much more than that, too.
    This isn’t like investing in a stock. You don’t buy a beachfront lot or a rental condo overseas and then set it on a shelf to wait for its value to increase. But yes doing business overseas has several benefits too :

    1. Benefit from currency diversity: country like canada where currency has higher value compared to some other countries.

    2. Take advantage of international asset protection.

    3. Open the door to foreign residency. It’s another place where you can hang your hat. And in many countries, owning real estate locally qualifies you for a residency visa too.
     
  4. raceryzf

    raceryzf New Member

    Those who consistently make money in real estate know the market. They know the location and the history. They know what new developments are planned. They know the transportation and the schools. They know everything about the area where they invest. They have to know it all.
     
  5. totallyproperty

    totallyproperty Administrator Staff Member

    I'm not sure about knowing it all but you make a very good point... That is knowledge, education and due diligence is the key.

    I don't have a problem investing overseas but you need to be sure of what you are buying and ensure you carry out full due diligence. Minimise your risks with as Veronica says buying the safest option or at least buying from a developer that has an excellent track record to minimise any off plan risks... Use a good recognised local lawyer too if you do plan to invest in something on your own.

    Basically use common sense and be extra vigilant if it's not an area you are familiar with...
     
Loading...

Share This Page