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Real Estate News Releases
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(EstateNewsWire.com, November 13, 2012 ) Bicester, U.K -- Experts say that people looking to purchase real estate overseas should do their research before diving into a situation that could ultimately hurt them.
When it comes to buying property in foreign countries, one must consider their long term intentions before committing to anything. Director of international real estate dealer NV-Company, Nina Volkova, says that people have varying reasons for going global with their real estate projects, but that those looking to flip houses for profit are in for a rude surprise. According to Volkova, market profits will likely stay under 3-5% within the upcoming years, which may mean that the entire project is not worth it for those on that path.
Volkova said that the with the current state of the economy in Europe, the best reasons for many foreigners to buy real estate overseas include: finding a place to retire; getting permanent residence; or to be closer to family. If those are any of the reasons for people looking to buy overseas real estate, it makes sense. On the other hand, the intention of many is to gain profit by fixing up and reselling property, but Volkova warns that those with that mindset should recognize it as a long term project even if they plan to merely rent.
The CEO of Kingsland real estate agency, Denis Yevseyev, said that interested resellers should target exclusive markets that will have limited competition in the future because that will increase sale value at the end of the day.
A partner at Chesterton real estate, Yekaterina Tein, said that investment decisions can be split into three different categories, all of which have different outcomes: safe/low-profit, risky/high profit possibility, and professional investing. Tein said that while each have an upside, the downside of “risky/high profit” investing would have to big of a probability in the current state of the economy.
Donald Trump was quoted saying that buying property in Greece and Spain, two countries that have seen recent economic struggles, would be very smart at this point in time because the rewards of profit over time could be exponential. The problem with this is that if the markets never recover, all we be lost for investment hopefuls.
Experts say that the best investment in real estate right now would be to purchase “elite” property. While the economy is not doing so well at the moment, elite property ownership could be beneficial in the future. However, many experts say that it really depends on the country and area of interest for buyers.
The example used by many real estate gurus is the market in Hong Kong, Shanghai, and Mumbai, which has seen exponential increase in real estate since it reached its low back in 2008. While market trends vary around the world, it is probable that most countries who have seen overall success as a nation will ultimately rebound, thus providing very good profit for real estate owners who bought at a low point such as right now.
Costa del Sol, according to many, is prime for resellers right now, as it has experienced an all time low in real estate prices.
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