International Property - where to buy that is reasonably hassle free for foreigners? | ExpatWoman.com
 

International Property - where to buy that is reasonably hassle free for foreigners?

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EW OLDHAND
Latest post on 23 March 2011 - 14:48

DH and I are wanting to buy an investment property. We are from OZ but it does not have to be there, we are open to suggestion???? Has anyone purchased an investment property in another country? If so, has it been relatively easy to do?

TIA:)
<em>edited by Tru Blu on 23/03/2011</em>

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EW NEWBIE
Latest post on 27 March 2011 - 09:35
@basil : I'm British and yes, the euro is very strong at the moment which isn't great but there are companies around that will give you a good rate (well better than the bank) if you are transferring a decent sum between currencies. I'm not sure about the bank finance for non-EU members but we have financed two of our three properties and while we are British passport holders we are still classed as non-residents. The process was relatively easy. Our first mortgage was through Abbey National (French Office) and our current one is through Societe General. We used a broker in the UK to organise both - I can't remember their details off the top of my head but if you like I can have a rummage through the files. The buying process is straightforward as the agents (Beaux Villages) guide you through the whole thing.
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EW GURU
Latest post on 27 March 2011 - 09:15
can I ask Montes..What nationality are you? Iam also Australian but with our $ so high it's better for us to invest other places at the moment. Is it easy to buy and get bank finance in france for non EU members?
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EW NEWBIE
Latest post on 27 March 2011 - 08:53
We've bought three properties in France over the past seven years - sold one with a very good profit (it was a fix-me-upper and we fixed up!), another investment one and a soon to be permanent home. We are now in the process of looking for something that will provide us with some sort of income with minimal effort involved and have come across a couple: Halcyon Retreat in Limoges (fractional or full ownership, 6% rental return guaranteed, tax breaks from French government etc) and Le Clos du Musee Residence in La Reole which is more expensive but we know this area very well and the properties should rent very well as they are within a 45 minute rail commute from Bordeaux where properties are very expensive. We are being advised by Beaux Villages Immobilier in France who are all English speaking and really seem to know their stuff.
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EW NEWBIE
Latest post on 26 March 2011 - 18:43
We bought on the Turkish med coast in a beautiful town called Alanya. Fairly easy to do for foreigners and good value for money. Look at Antalya in particular. The airport is there and the prices are cheaper than Alanya. It is a bigger city where as ours feels more townish. Do it now before they become part of the EU, cos then prices will shoot up to compete with other EU countries. Food, drink, going out is still fairly cheap and it is so beautiful there with gorgeous beaches and friendly people. I've heard of other places like Bodrum and Fethiye which are also popular. Check out www.rightmove.co.uk and then click on Overseas, then Turkey. We prefer Med cos weather is nicer and sea is warmer. Good luck
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EW MASTER
Latest post on 26 March 2011 - 14:25
ooopss! :\:
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EW MASTER
Latest post on 26 March 2011 - 14:25
Yes but there is some real **** there too - be careful what and where you buy. Oversupply of holiday type **** rental.
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EW GURU
Latest post on 26 March 2011 - 13:38
I would think it would be wise to buy somewhere that you like to visit so that you can at least enjoy it regardless of the financial gains :) It's super cheap to buy in Orlando right now :)
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EW OLDHAND
Latest post on 26 March 2011 - 13:25
Not sure if hassle free exists! :) From initial fees to tax when you finally sell the property if you are able to and all else inbetween.. Maybe you should look for these companies who sell and manage specifically for investors - they often tend to be new builds ( apartments) in cities in the UK. Not always easy to get mortgages for non residents in the UK and other countries. My FIL suggested this too. I will look into it. Thanks for your advice
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EW MASTER
Latest post on 26 March 2011 - 13:22
Not sure if hassle free exists! :) From initial fees to tax when you finally sell the property if you are able to and all else inbetween.. While all markets have "crashed" and there are bargains to be had, you may not necessarily want those bargains e.g in Spain people are trying to offload properties due to a variety of reasons as reported recently. I could buy the most marvellous property in a certain area of Scotland that I am familiar with for next to nothing BUT there's no one to rent it due to the local economic climate. Prices are "pocketed" though and where there is a market, prices are still high eg St Andrews, Scotland. Rental income in UK will be taxed as will the US and others. Maybe you should look for these companies who sell and manage specifically for investors - they often tend to be new builds ( apartments) in cities in the UK. Not always easy to get mortgages for non residents in the UK and other countries.
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EW OLDHAND
Latest post on 26 March 2011 - 13:21
Thanks Ladies. That gives me some starting ground for research.
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EW NEWBIE
Latest post on 26 March 2011 - 13:07
We have a couple of places in South Africa... hassle free and good long term rent returns but always find out about levies / municipality / rate charges in advance as theres always something to pay out for... new paints jobs etc.. good luck
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EW NEWBIE
Latest post on 23 March 2011 - 19:33
I think Dubai is a good place to have a rental investment if you manage to find a good deal in a good quality development and your rent covers your mortgage. We have investments in Europe and it's a nightmare managing it from a distance.
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EW NEWBIE
Latest post on 23 March 2011 - 16:14
Just bought in Portugal(Algarve) easy to do and a fantastic destination
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EW EXPERT
Latest post on 23 March 2011 - 16:12
I'm having nightmares with the tenants in one of my properties in the UK!! By the way, the income earned from the rentals would be subject to UK (I assume?). That being said, I can do you a great deal on a flat on the South Coast of England...lovely tenants included!
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EW EXPLORER
Latest post on 23 March 2011 - 15:35
U.K is easy and as the market basically crashed there you can get some good finds.
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EW MASTER
Latest post on 23 March 2011 - 15:26
I'm sorry, I can't help you with suggesting anywhere, what have become our investment properties were originally bought with the intention of the places being homes for various family members, but then one by one, the circumstances changed. I just wanted to say, we have found it is extremely difficult (and quite expensive) to run an investment property when you are living far away from it, unless you have property managers you can trust and who can be counted on to work well for you. <em>edited by simpleasabc on 23/03/2011</em>
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EW MASTER
Latest post on 23 March 2011 - 14:51
Cape Town or Knysna in South Africa. Affordable and beautiful.
 
 

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