Overseas Property Trends: Buy An Entire Village

Buying a villageLooking to buy a property overseas but the idea of buying a single property doesn’t quite cut it? Cue on of the latest overseas property trends – buying up an entire village.

There are plenty of abandoned towns and villages around the world. An example is in Canada where there are several abandoned places which used to house thriving mining communities. Many of these small towns are immensely picturesque and are being snapped up by developers who turn them into holiday homes.

If you are planning to buy up a hamlet, village or town, one of the key concerns is what exactly are you going to do with it? Many people struggle to restore a single property let alone an entire village. Many buyers are looking at these abandoned towns as business as well as investment opportunities – the homes can be rented out as holiday homes and community centres can be used for a variety of activities including overseas cookery courses, fishing or hunting holidays, or as holistic or arts centres.

Possibly one of the most well-known businessmen slowly buying up a village is Pierre Cardin. He is gradually buying up a village in Provence with the aim of turning it into a community of artists. Cardin is thought to own 42 buildings in the village has is reported to have spend around £18 million on restoration work. Locals have said that he has offered over three times the real value of their properties so that he can add to his portfolio. Although some believe what he is doing is good as it is ensuring the village carries on into the future, others believe he is destroying the traditions of the community.

Most countries have some sort of abandoned town that can be bought so if this is your thing, there is plenty of choice around – from Canada to Italy, France to Bulgaria. Many people love the idea of restoring an entire village to suit their ideas however they don’t have the funds, so groups of friends and business partners are now clubbing together to purchase these small pieces of history.

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