Top 5 International Destinations For British Property Investors
1. Marbella, Spain
Marbella tops the list as the most sought after location for Brits to find a property investment overseas. Marbella is also the top destination for Brits looking to buy holiday homes, suggesting investors are monitoring the market and looking to take advantage of the potential for holiday rentals, as the vibrant city continues to be a big draw for British tourists. Also, there have been recent reports that the oversupply of habitual stock (that was built during the boom, but then remained unsold after the market crisis) has now started to dwindle, which may be encouraging potential investors to take notice and buy now, whilst the property prices remain low and the pound continues to strengthen against the Euro.
2. Dubai, UAE Tax free Dubai has been a favourite for some time with international property investors. Reports suggest that the city’s population is made up of 90% foreigners, as a consequence of employment migration driven by the expansion or relocation of international blue-chip companies. Even looking back as far as seven or eight years, property couldn’t be built fast enough to cater for the demand of international property investors, looking for both returns on the rental yield and capital gain. Statistics from the Dubai Land Department suggest up to 19,000 Brits have already invested in the ‘jewel’ of the Emirates and those who kept their properties throughout the crisis now have an asset reported to be 30% + higher in value.
3. Davenport, 4. Kissimmee & 5. Orlando, USA Our third, fourth and fifth top international destinations for British investors in quarter one of 2015 are all located in close proximity of one another in Florida. As a result they all share the common benefit of being within a 30 minute drive of The Disney Land Resort. The potential for both rental income from holiday makers and capital gains (due to the huge drop in prices since the crash nearly a decade ago) are an obvious attraction for investors. Particularly high on investor wish lists are the foreclosure sales still available in the area, but the improvement of the economy in the US and in turn the increasing availability of financial credit for Americans, means property foreclosures are likely to be snapped up at a quicker rate moving forward.
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