Press Release Summary = Anybody with even a passing interest in the UK property market cannot have helped but notice the numerous recent reports of British investors being forced to look abroad because of rising property prices on the domestic market. Many are finding that they can acquire more than one property for the kind of outlay that would only afford them a single purchase in the UK.
Press Release Body = Anybody with even a passing interest in the UK property market cannot have helped but notice the numerous recent reports of British investors being forced to look abroad because of rising property prices on the domestic market. Many are finding that they can acquire more than one property for the kind of outlay that would only afford them a single purchase in the UK.
With that in mind then, it would seem that the obvious choice for anybody operating in the property market - and especially for those that are entering the world of buy-to-let investment for the first time - could be to make an acquisition or two abroad, generate a decent income in rentals, sell when the time is right and maybe return to the domestic market richer, wiser and with more capital to invest.
However, not all property consultants see it this way. According to one, a key benefit of buying in the British market is that the purchaser knows what they are getting - and has recourse to well-established, accessible and transparent legal proceedings if they do not.
Andy Smith of 1st Property Investment says that people who find themselves buying abroad in places like Spain can find themselves being \"stung\" by the lack of transparency in many investments and transactions. \"I think a lot of English people run off to places like Spain and Italy to make their fortune, and Bulgaria, without looking at the facts, and they tend to get stung quite regularly,\" he said.
He notes that there is in fact a steady stream of investment in UK property coming from foreign buyers. This, according to Mr Smith, should be a sign for the UK buyer that the domestic market may indeed have more to offer. \"What a lot of overseas investors see in the UK is probably somewhat different to what we see,\" he explains.
Referring to the problems some Britons have had when buying in Spain, where they have lost money in developments that were never built or were built without planning consensus and had to be torn down, he said: \"These are not issues in the UK and the reason is there\'s always recourse in the UK, as we have one of the most old and robust legal systems in the world, which means if you own the title, then you own the title. There is no contesting of title when you purchase.
\"Because of that, a lot of people from abroad are finding it a far more stable market to invest in.\"
2022
