Overseas property 'can be a very profitable purchase'

Investing money in overseas property can be a good way for people to make their money work for them, it has been claimed.

According to Lloyds TSB International, if people make good decisions about where to buy and how to finance their purchase they can make a healthy profit from property abroad.

"With the help of extensive research it is possible to identify foreign property markets which are about to take off. For instance, areas which are close to planned new airports or high-speed rail links often see a sustained rise in house prices," the bank stated.

"Buying in the right areas at the right time can allow you to make healthy profits from capital appreciation and rising rents in just a few years."

However, the bank warned that investing in property abroad can be affected by factors such as economic events and exchange range fluctuations, meaning it is important to have a flexible exit strategy in mind.

It also advised anyone thinking of investing in property abroad to consult an independent local lawyer as it is important to follow all regulations carefully.

Last week, financial commentator Katerina Nikolas wrote an article for Helium advising property investors to look at repossessed and distressed properties in Spain, which can be picked up for a bargain price.
 

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