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Overseas buyers 'should research area'

Article Date : Thursday, September 13, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Overseas property buyers have been urged to research the area they are looking at before committing to a purchase.

Emerging Real Estate recommended that prospective buyers consider issues such as the local economy and whether it was a sustainable investment.

However, the firm said that overseas buyers tended to be more well-informed than in the past, largely because of the amount of information available online.

Pelle Langli, chief executive of Emerging Real Estate, stated: "It's definitely a positive, having all the information out there on the internet."

He added that this allowed investors to acquaint themselves with conditions in the market before they bought a property.

Mr Langli also said that this was especially important for those who did not want a long-term investment, as they needed to consider their exit options and how they could sell their property.

Recently, Alliance & Leicester recommended that overseas buyers could also benefit from carrying out advance checks on property before making a purchase, such as a structural survey.
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