Investors could make money overseas

Prospective property buyers have been advised that investing overseas could be highly lucrative.

According to A Place in the Sun Live, foreign property investors could potentially benefit from the current economic downturn.

Mark Bishops, investment expert at the group, said this is because the credit crunch has forced prices down in many popular locations.

Therefore, buyers could be able to snap up a bargain before the market picks up again in the future.

Speaking to Property Wire, he commented: "I believe that the credit crunch offers an opportunity for people to invest in property abroad at some of the best prices in a generation."

Mr Bishops stated that those with the necessary finance should "seriously think" about taking advantage of the current situation.

Consumers were urged not to let the "negative vibe" put them off investing overseas.

According to a study by Savills and Holiday-Rentals, people from the UK now own 425,000 foreign properties.

Estimates suggest that these are collectively worth in the region of £58 billion.