opportunities available those buying property abroad
News Posted On: 09 June 2009
Investors who are considering buying property abroad in places such as Portugal could find there are a number of bargains to be had.
Mark O'Sullivan, director of trading at Currencies Direct, said cash-rich buyers might find the overseas property sector particularly inviting.
He noted that it is possible to negotiate lower prices, particularly if there is a distressed seller involved in the deal.
"There is no doubt that if you … have got cash at the moment then [in] the overseas property market, there are so many bargains to be had," Mr Sullivan commented.
He said that interest in homes abroad might increase after the holiday period as Britons travel abroad and fall in love with overseas destinations.
According to Currency Index, the cost of property in Portugal fell by 16.3 per cent in the 12 months leading up to June, which might mean that now is the time to purchase a holiday home on the Silver Coast.
Written by Matthew Bonner
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