Demand for property abroad increases
With the end of the pandemic, positive changes have begun to be noticed in the property market. Due to the lifting of strict measures imposed during the lockdown, buyers are beginning to have a more positive outlook regarding the property market. For example, there has been a considerable increase in the number of people seeking to buy property abroad.
Spain, France, and Portugal are the preferred destinations for buyers to enter the property market. Mainly due to its proximity to the United Kingdom, but also due to the location benefits that make these properties so desired in the market.
“More and more people are looking forward to buying property abroad.”
Daniel Harrington, Head of International Growth for Fine & Country, said: “With the pandemic affecting international markets, we have been pleasantly surprised by the recent demand from our international clients, whether they are moving to work or buying a place in the sun afterward months of confinement. Wherever they were in the world.”
“Research shows that more and more people are thinking about buying a vacation home somewhere else or plan to move permanently to another country.”
“However, how many people know the process of buying a property in another country, and what does it involve? Each country has its own set of laws or processes that must be followed, so it is best to seek expert advice from property professionals in those regions.”
Investing abroad: an excellent option
Investing abroad is an issue that many investors are concerned about, mainly because these investments are not governed by UK law, and also depends on the economic situation that these countries are going through.
An example of this was the economic depression that Spain experienced in the last decade. Property prices plummeted, and many foreigners took advantage of that moment to make smart purchases and invest in the real estate market.
Currently, something similar is happening. The Coronavirus pandemic hit international markets hard, property prices hit record lows, and the vast majority of investors cautiously took the idea of investing in new properties.
However, Europe is rising from its ashes like the Phoenix bird. The pandemic begins to disappear along with investor fear. UK citizens are beginning to see the horizon with good eyes and are hunting for properties for sale in neighboring countries.
If you are thinking of expanding the borders of your investments, this is the ideal time. And even though the overseas market appears to be a new “crown jewel,” don’t forget that the UK property market remains an ideal choice.
HICH LTD continues to work to offer the best property survey service, before, during, and after the pandemic; we have redoubled our efforts to maintain the quality standard that has made us a leading property survey company.
