Cheap international property is ripe for investment
02 December 2009
Now is the time to invest in affordable international property, according to property magazine editor.
The editor of A Place in the Sun magazine, Richard Way, said falling prices, which have been putting pressure on the global property market, have provided ideal opportunities for buyers.
Mr Way said: "If you’re looking to snap up a holiday home abroad primarily for lifestyle reasons but with an eye on long-term investment [and] you can afford to buy now, then grab a bargain while you can."
He added that it would be sensible to use a forward contract to ensure that currency fluctuations do not affect the price of the property.
Mr Way also noted that those who "bought at the top of the market in 2007" with high risk investments will be feeling the effects of the recession hardest. He cited Dubai as a prime example of the global downturn in the property market.
International Property News