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.