Should you be buying overseas in 2015? It’s been a turbulent few years for foreign property buyers and some property markets have been hard to predict. However most popular overseas property buyer destinations appear to have started to settle down making buying a far less volatile proposition. So is 2015 a good year to invest in more property? Here, we look at three of the more popular destinations for buying property and evaluate whether we think they are good places to buy or not.
UK landlords have seen massive returns in their property portfolios over the past 15 years. With returns averaging over 1,400% since 1996, there are very few other investments that have been able to match this exceptional return. However these big figures were only made in the residential market – the commercial property market has not been so lucrative according to figures from Wriglesworth Consultancy.
Miami Beach is official 100 years old! To celebrate, we are looking at whether purchasing property in the Miami Beach area is a good investment or not.
Miami Beach attracts an international crowd and the rich and famous have long chosen Miami Beach as a favoured area for second homes. South Beach is probably the most popular area and commands the highest prices particularly as property supply is quite constrained. However there are some delightful Art Deco buildings in the central South Beach area that are protected from development – the prices are reasonable and the protection means these prices are likely to remain stable and therefore represent a good investment.
Got some cash and want to splash it on residential property? These are the World’s 10 most expensive cities in 2015 according to the Knight Frank wealth report and how many square metres $1 million will buy you in each place.
10. Los Angeles, US. $1 million in LA will buy you just 57 square metres of property on average.
9. Paris, France. $1 million buys you a cool 50 square metres of property.
8. Shanghai, China. $1m buys 48 square metres of property in this premium Chinese city.
Property investment in Dubai remains a risky prospect in the short-term with residential prices falling by nearly four percent in the first six weeks of 2015. All types of property, including villas and apartments, have seen their prices fall although average villa prices have fallen less than apartment prices.
Rental prices are remaining around the same price meaning rental yields are actually increasing.
However it property prices are not expected to increase in the short-term meaning anyone looking to buy property in Dubai must be looking to the long-term market.
The weather is getting warmer and many of us are starting to dream of a beach holiday. Beaches have always attracted people and tourists and this makes them a good place to invest in property. So where should you start looking if you wanted to invest in a property near a beach?
1. Dominican Republic
The Dominican Republic is a really popular destination for sun seekers of all nations. It’s also one of the top places for Caribbean property investors for two reasons. Firstly, there is a strong rental demand from tourists. However there is also a growing expat population and this is helping property prices. Secondly, compared to the rest of the Caribbean, property prices are lower and potentially could offer better returns over time.
Filed Under: Spain
Spain looks set to offer residency to anyone buying property worth over £130,000 in a bid to save their housing market. At present, there are said to be 700,000 unsold Spanish properties on the market and new policy could see foreigners being given residency permits if they buy a property worth more than 160,000 Euro.
Trade Ministry secretary Jaime Garcia-Legaz said the plan, which is expected to be approved in the coming weeks, is aimed specifically at the Chinese and Russian markets.