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Investors 'looking for cut-price properties'

Article Date : Friday, July 25, 2008       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

Investors 'looking for cut-price properties'

Many overseas property buyers are seeking out bargain homes amid the current economic downturn, according to analysts.

NuBricks.com stated that properties in some markets are being sold at a knock-down rate because the credit crunch has hit the level of demand.

As a result, forward-thinking investors are snapping up these houses while they are undervalued.

This means they can pick up a desirable property in a prime location for a relatively low price, and look forward to considerable capital growth when the market picks up again.

Adam Samuel, a director of Nubricks.com, commented: "The professional investor will look at a climate like this with the potential to make even better returns."

He added that since there is a lot of property for sale at the moment, people can take advantage of the fact that it is a "buyer's market".

This comes after Homes Worldwide stated that now could be the "perfect time" for property buyers to make a "savvy" investment in a country such as Spain.

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