Economic problems offer opportunities to investors

Overseas property investors could be able to take advantage of the current problems in the global economy, according to experts.

Currency specialist HiFX stated that the credit crunch and the resulting economic slowdown has led to some prospective investors "getting the jitters".

However, the organisation said the financial problems across the world are also having a negative effect on property sellers.

Therefore, people could be able to persuade estate agents who desperately need to meet their sales quotas to offer them a good deal.

Mark Bodega, director at HiFX, commented: "Buyers should remember that a drop in demand will mean vendors are also feeling the pinch."

However, he recommended that investors get a forward contract to fix the exchange rate during the transaction.

This, he said, would prevent people being affected by any market fluctuations and guarantee the final cost of their purchase.

The advice comes after ShelterOffshore.com stated that the credit crunch is not dampening British people's "insatiable desire" to own a foreign property.