Sun, sea and zlotys – snap up a bargain
Investing in property abroad is a daunting prospect at the best of times. Many Britons who borrowed heavily to invest in foreign properties have been left in negative equity, which may be enough to put off any new buyers.
However, for those willing to risk it and purchase now, there are some real bargains to be had. Property Venture, an overseas agency, has just named its European and Mediterranean hot spots for 2010, three of which are detailed below.
Spain
Spain may be a surprise entry given that it is still struggling with high unemployment and a shrinking economy, but with average house prices falling by 8 per cent in the 12 months from September 2008, this may be the time to pick up property on the cheap.
Property Venture says that about 1.6 million apartments and houses are on the market, with some under construction and others with planning permission to be built within two years. Coastal property prices have seen the biggest declines while inland prices have held up somewhat.
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