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Foreign property investment 'still going on'
2008-09-01
The overseas property investment market has not ground to a halt despite the credit crunch, it has been stated.Chief executive officer of Homesgofast.com Nicholas Marr argued that while numbers are down overall, there are reasons for some to be happy.
Stating that "it's far from a grinding halt and in fact, for some things, it could not be better," Mr Marr said this was especially the case for those buyers who do not need to take out loans at high loan-to-value levels, as these buyers are able to take advantage of lower prices.
For buyers, sellers and professionals alike, the key is now about getting high quality purchases, he added, commenting that the market is "all about value for money for us all".
Exchange Bond reported in April this year that UK and Irish investors owned 3.81 million properties overseas.
This number will rise by between eight and ten per cent this year, the firm predicted.
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