Viking From Sweden

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tap1on

New Member
Hello everybody!

Short about me:
Making a lot of money on the internet through various ventures.
Looking to invest money in properties to diversify.
Very new to this whole thing but looking forward to learn more.

Any good threads or posts you suggest I should start with?
 
Veronica

Veronica

Administrator
Welcome to the forum.

Do you have any particular counties in mind where you would like to invest?
Perhaps if you go through some of the threads in different country forums it will give some insight into where you might like to invest.
Remember to do your homework very thoroughly wherever you decide on as there are many pitfalls which unsuspecting buyers can fall foul of.
Feel free to ask as many questions as you want and we will do our best answer them.

Regards
Veronica
 
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tap1on

New Member
Hi Veronica,

I'm looking to invest in properties mainly in Europe to start with. Preferred a warmer country: Spain, Malta, Cyprus, Greece, Croatia etc.
Couldn't really find any "newbie start here" thread but I'll read around and hope for the best.
 
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totallyproperty

Administrator
Staff member
Hi Tap1on

First of all, welcome to the forum which we hope you find to be informative and helpful as you move into the property investment market.

I notice your interest in Spain, Malta, Cyprus, Greece, Croatia, etc and believe that Veronica should be able to give you some excellent insight into the Cyprus real estate sector.

The Spanish market is beginning to recover despite the fact that some Spanish banks still have enormous amounts of unwanted property inherited from those who defaulted on their mortgages. This could be a very interesting market in the short, medium and longer term although there are also other worldwide real estate sectors which remain severely depressed on the back of the 2008 worldwide collapse.

We have an array of specific European and worldwide real estate sectors which you may find of interest. I would also reiterate Veronica's comments about researching the real estate market, avoiding the pitfalls and giving yourself the best opportunity of success.
 
Veronica

Veronica

Administrator
If you read some of the threads in the Cyprus you will realise that buying off plan
can be very risky as there are some very unscrupulous developers.
However this is a very good time to buy resales as prices have dropped dramatically since the economic crisis and there are some very good bargains to be had.
It is very important to make sure that you buy only property with title deeds.
This ensures that the developer who built it cannot take out a mortgage on the land as has happened so often in the past.
This is one of the big problems which the Cyprus real estate sector had in the past as the banks were giving developers mortgages on land which was still in their names despite people having paid in full for their homes.

This cannot happen now as the new government have brought in laws to prevent this and bank managers who allowed this in the past are facing prosecution.
I still alway recommend though that people only buy properties with title deeds if they are able to as this is the best safeguard against anything going wrong in the future.

Unfortunately most of the countries you named have had problems with unscrupulous developers and scams which have left many many expats with problems, often having paid for properties which have not even been built so do make sure that whatever country you choose you do your research.

Good luck
Veronica
 
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Vincentash

New Member
Why not go for the Baltics? Many Scandinavians have bought properties in the center of Riga.
 
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