Property investment is a great way to secure a new interest and, potentially, a significant income. Although most people tend to invest in buy to let property within the UK, a growing number of people are choosing to set their sights a little further afield, with the desire to invest in property to rent out abroad.
This can be an exciting and potentially rewarding venture to get involved in, but of course you need to ensure that you are doing everything possible to make a success of your property investment. Investing abroad means taking both the UK property climate into account and the state of affairs overseas, so to help you narrow your searches, here are 10 of the best countries to purchase property abroad in 2018.
Spain has been a popular choice for years thanks to the mix of its hot climate and close proximity to the UK. Although there has been uncertainty in recent times due to Brexit, the country remains an affordable and enticing option. The fastest growing location for investors is currently the Spanish island of Lanzarote.
France is another country which is temptingly affordable in many regions. It’s also the most visited country in the world as it can accommodate for pretty much any climate, whether you’re looking for sun in the south, mountains and hills or chic city rental opportunities.
Portugal is a popular choice thanks to its reputation as a friendly, fashionable and affordable country for property investment. The Algarve remains the most popular option for British buyers in Portugal, particularly Lagos in the west.
Unsurprisingly, the warm, historic and stylish Italy is a firm favourite for those looking to buy property overseas, particularly in cities like Milan and Venice. Celebrities like George Clooney, Helen Mirren, Sting and Ed Sheeran all have property in Italy, adding to its popularity.
If you’re looking to invest in a family property, Florida is one of the best places to choose. The state is famous as a playground for families with the huge expanse of Disney World to explore, alongside countless other theme parks. Many Americans from other parts of the US frequently visit Florida.
Despite a rough few years, British buyers are still attracted to the Mediterranean’s largest island. Paphos — a stunning harbour, resort and UNESCO World Heritage Site on the southern coast — is particularly popular for property investment.
Recent financial difficulties have resulted in some extremely low property prices in Greece, making it an even more tempting spot for property investment. Some prices are down by as much as 30 per cent, and islands like Rhodes are proving increasingly popular.
Malta may only be 17 miles long and 9 miles wide, but that doesn’t stop it from being a popular spot for property investment. There are plenty of reasons to invest in Malta, from the great climate and stunning views to the widespread use of the English language.
Affordable local produce, healthcare, education and property taxes all make Turkey a popular choice for overseas buyers. Istanbul remains particular hotspot for investment.
Croatia is a film and television hotspot, having been used in the likes of Mamma Mia, James Bond and Game of Thrones. The stunning scenery also makes it a great destination for those looking for a picturesque escape.
Whether you’re buying at home or abroad, having the necessary funds readily available is vital for ensuring that you don’t miss out on a great property investment opportunity. If you are in need of a bridging loan to help you plug the gap between sale and purchase, speaking to companies like Glenhawk may be an appropriate starting point.