Now a growing a number of UK first-time buyers are looking overseas in an attempt to sidestep Britain’s challenging property market. Around half of first-time buyers say they would buy abroad in order to get on the property ladder, while the number of new buyers prepared to think globally about property has doubled in just 10 months.
Liam Bailey, head of international research for overseas property specialists David Stanley Redfern said:
“Countries at their peak are seeing property values appreciating by anywhere up to 30 percent. On top of that, investors can often start earning a weekly or monthly income from the rental of their overseas property almost immediately, money which can be put back into a deposit for a UK property.”
First-time buyers are indeed doing just that. Far more adventurous than their holiday home-buying predecessors, would-be investment owners are turning to emerging markets such as Eastern Europe and the Far East in the hope that their rental income and capital gain will increase their purchasing power back home.
For instance David Stanley Redfern are marketing the Dajti Views Development in Albania, in which you can get a 1 bedroom apartment for £26,000. It is impossible to get on the UK property ladder with that amount of money. But in 5-10 years Albanian property could well be worth anywhere from twice to four times as much – a far greater return than is possible in the U.K.
With Britain’s unpredictable weather, and Britain’s unpredictable market, perhaps it is time to join the masses of first-time buyers heading to the sun.
Find out more about Albanian property at http://www.davidstanleyredfern.com/
