Insurance News Archive

Overseas property investors 'need help and advice'

Investors looking to make a purchase in foreign property markets need help and advice, it has been claimed.

Emma Holifield, PR and marketing executive at Property Frontiers, said buying property can be complicated, even in well established markets.

The process is not "a straightforward transaction like buying a car", according to Ms Holifield, and investors should seek professional advice regardless of their experience.

She said this is necessary unless the buyer is a qualified lawyer, surveyor, financial advisor and real estate broker.

"Without this unlikely cocktail of qualifications and experience," she added, "you will need help and advice when buying a property, especially when buying overseas."

Increasing numbers of British nationals are purchasing property abroad, according to last year's International Property Market Report.

Around 242,000 people bought overseas in 2007, up 21 per cent on the previous year.

The average spend rose by just one per cent, however, from £98,166 to £99,200.

29 May 2008