IT IS an image that will resonate with many Britons: you’ve just got back to
work after an idyllic two-week family holiday on the French coast; the boss
is still away; but instead of kicking back and enjoying long lunches, you’ve
been spending every waking hour pounding away on your computer. This fervent
activity is not being channelled into lastminute profit and loss
presentations for the CEO. Rather, you are on Google tapping in search terms
such as “property Sardinia sea views under £200,000”. In your mind’s eye it
is already July 2008 and you are on that flight, escaping to your bolthole
in Turkey, Greece or Spain.
You are not alone. Buoyed by strong house-price increases at home (7,076 homes
changed hands for seven-figure sums last year, almost double the number in
2005, according to Halifax), comparatively low values abroad, and a glimmer
of hope of decent weather, the attraction of a bolthole abroad is obvious.
The number of Britons with an overseas home increased by 45 per cent between
2004 and 2006, according to the market research company Mintel. And although
estimates of the number of Britons with homes abroad vary wildly – a study
by Grant Thornton and Lombard Street Research puts the number at 300,000,
Mintel at 800,000 – all the reports concur on two points: there are a lot of
holiday-home owners, and the number is growing.
The commonplace nature of overseas home-ownership should not, however, be
confused with it being easy. An “authentic” Bulgarian bargain for £20,000
may be tempting, but cut corners on research and you could be in for a bumpy
ride. We’ve all heard the horror stories of Britons “buying” properties they
don’t legally own – only last year, a handful of unfortunate homeowners
learnt that their homes would be demolished after an anticorruption
crackdown in Marbella. So, make the most of the boss’s absence to do your
homework: scour these top 50 overseas property websites, and you could soon
be on your way.
FACTS, FIGURES AND BUYING GUIDES
When it comes to the great British appetite for buying abroad, no country is
left unexplored. From investment flats in Rio or Reykjavik to sprawling
villas in Seville and Sydney, you’re sure to find a British buyer after
profit and pleasure. According to Savills, Greece and Singapore experienced
double-digit price growth last year. Meanwhile property price rises in
Poland, Bulgaria, Canada, Sweden and Spain all outperformed those at home.
But last year’s hotspot could be next year’s “not spot”, so it is important
to understand the dynamics of the property markets in these far-off places.
Consult as many sources as possible before making up your mind – and beware
of those with a vested interest who insist that their development (four
hours from the airport and built on industrial wasteland) is going to bring
in 15 per cent rental yields and 40 per cent house-price growth. There is no
such thing as doing too much research into the local property market.
The Move Channel: info on
buying in France, Italy, Poland, Portugal and Spain, plus homes for sale
worldwide. www.themovechannel.com
Nubricks : blog specialising in
new homes and podcasts. Look out for the “101 overseas property resources”
links. www.nubricks.com .
Expatica : essential website for
expatriates living in France, Spain, Germany, Belgium or the Netherlands. www.expatica.com
Buy Association : more
than 100 overseas property podcasts and buying guides. www.buyassociation.co.uk
Global Property Guide
: country “investibility” ratings and analysis of property markets overseas;
will delight number-crunchers. www.globalpropertyguide.com
CIA
World Factbook : gives a snapshot of demographics, unemployment and
GDP for every country. https://www.cia.gov/library/publications/the-world-factbook
PROPERTY SEARCH ENGINES
Now that you have a good overall picture of the market, it’s time to work out
what your money will buy you and where. Search engines are a good place to
confirm whether your budget is more Bansko than St Tropez. But don’t be
tempted to put in any offers yet.
Properazzi : Europe’s largest
property portal with sales and rental listings delivered via whizzy
interactive maps. www.properazzi.com
Primelocation : properties
for sale and rent worldwide, as well as country guides and contacts for
insurance brokers and international movers. www.primelocation.com
Propertyfinder :
for real estate from Antigua to Venezuela search at http://international.propertyfinder.com;
the website also has “local” branches in New Zealand (www.allrealestate.co.
nz ) and Australia (www.realestate.com.au
)
Rightmove : 45,000 homes in
more than 80 countries – the site will be adding an improved search soon. www.rightmove.co.uk
World Properties : website
backed by the International Consortium of Real Estate Associations. It has
property listings and guides detailing local property buying rules. www.worldproperties.com
ESTATE AGENTS
Finding a good estate agent is a large part of the battle when buying abroad.
Fortunately, there are some professional bodies that require their members
to operate under codes of conduct; some of the big agencies in the UK also
have offices overseas. Make sure that you grill agents on the state of the
market and always seek second or third opinions if in doubt.
Federation of Overseas Property Developers:
Agents and Consultants: a self-regulating body that vets its 215 members,
who adhere to a code of conduct. Search the member database by area and
consult country guides. www.fopdac.com
Association of International Property
Professionals : another industry body with a strict code of conduct.
From financial services in Antigua to estate agents in Venezuela, all the
services are covered. www.aipp.org.uk
Knight Frank : upmarket estate
agent that covers 30 countries. www.knightfrank.com
Savills : search for top-notch
waterside homes, townhouses, châteaux and farmhouses, from the Caribbean to
Asia. www.savills.com
Chesterton :
specialises in new developments in places such as St Tropez and Switzerland. http://international.chesterton.co.uk
Colliers CRE :
wide-ranging choice of new homes in countries including China, Morocco,
Philippines, Thailand and Turkey. www.ccreresidential.co.uk
Quintessentially Estates
: luxury homes in exclusive locations – only the wealthy need apply. www.quintessentiallyestates.com
VEF : French property experts. www.vefuk.
com (see also Latitudes :
www.latitudes.co.uk )
Kyero : Spanish property search
engine, with lots of excellent stats. www.kyero.com
MORTGAGES
Unless you have plenty of cash, contact with a mortgage broker will be
unavoidable. This may not be the most “fun” part of your overseas adventure,
but good advice will help you to choose the best provider, currency and
term.
Conti Financial Services
: home loans in 40 countries. www.mortgagesoverseas.com
Baydon Hill : money transfers,
insurance, mortgages and guides. www.baydonhill.com
Savills Private Finance
: overseas mortgage provider, but limited information online. www.savillsprivatefinance.co.uk
Banco Halifax Hispania : Spanish
mortgages. www.halifax.es
Barclays :
saving, offshore banking and mortgages; useful guides on retiring abroad. www.barclays.com/internationalpersonal
HSBC
: Spanish, French and Maltese banking services. www.hsbc.co.uk/1/2/personal/travel-international/buying-property-overseas
Leeds BS :
euro mortgages in Spain. www.leedsbuildingsociety.co.uk/spain
Lloyds
TSB : mortgages in Spain, France, Portugal, Dubai, New Zealand, Hong
Kong, Singapore, Australia, US and Canada. www.lloyd-stsb.com/mortgages/specialist_mortgages.asp
Norwich &
Peterborough BS: this site will help you to fund your Spanish
purchase. www.npbs.co.uk/mortgages/spanish-mortgages.asp
Royal Bank of Scotland International
: home loans and equity release in Spain. www.rbsint.com
INSURANCE
If you let your holiday home to tenants for most of the year, you’ll want to
know it’s protected against damage. Rather than risk a local policy written
in a foreign language, opt for one of the firms that specialises in the
particular requirements of holiday-home owners.
Saga : lots of useful
general information as well as insurance. It provides title indemnity for
Spanish homeowners, which insures you against claims on subjects such as
access rights, invalid documentation and a neighbour building an eyesore
that encroaches on your land. Your legal fees will be covered in such cases. www.sagaoverseashomes.co.uk
Andrew Copeland
: aimed specifically at Britons who want to insure their homes abroad
against fire, flood, theft, burst pipes or subsidence. It covers most of
Western Europe and owners can leave their properties unoccupied for long
periods and sublet to tenants. www.andrewcopeland.co.uk/ovprop.htm
CURRENCY EXCHANGE
Even the smallest fluctuations in the money markets will affect the price you
pay for foreign currency. The average amount transferred for people buying
or selling an overseas property is £130,000. With banks typically charging 4
per cent, the websites below could save you more than £5,000 on a typical
transaction.
Currencies Direct :
offers free transfers over £5,000 and has up-to-date exhange rates. www.currenciesdirect.com
Foreign Currencies Direct :
includes jargon-free market reports and overseas properties for sale. www.currencies.co.uk
HIFX : has a weekly market review,
with key information such as rate rises across world markets. www.hifx.co.uk
Moneycorp : established more than
25 years ago, the company offers a daily market update. www.moneycorp.com
Travelex: everything from sending
money abroad to holiday cash and opening bank accounts in other countries. www.travelex.com
Capital IFX : foreign
exchange service to help with purchasing properties, cars, yachts or other
assets. www.capitalifx.com
LAWYERS AND ACCOUNTANTS
Getting good legal and tax advice is essential. Do not scrimp on the ground
work, and make sure that any advice or agreements are legally binding in all
relevant countries.
John Howell & Co : legal
services, free comprehensive country guides. www.lawoverseas.com
The International
Property Law Centre : legal advice and free country guides online. www.internationalpropertylaw.com
Institute of Chartered Accountants
England and Wales : search the database for accountants who
specialise in the tax affairs of UK residents overseas. www.icaewfirms.co.uk
Blevins Franks : expat
financial services and tax advice but low on information online. www.blevinsfranks.com
Grant Thornton : can
advise on international tax issues, though limited information online. www.grant-thornton.co.uk
MOVING ADVICE AND RELOCATION AGENTS
Thirteen million British nationals live abroad, according to the Foreign
Office. But emigration presents myriad organisational headaches, so make
sure that you obtain the most comprehensive advice before heading to the
airport.
Direct
Gov : this wide-ranging site has information on everything from
schools to tax, cultural awareness and working abroad. www.direct.
gov.uk/en/BritonsLivingAbroad/index.htm
The European Relocation Association: this provides lists of relocation agents across the globe, not just in
Europe. The emphasis is on corporate services but many agents also cater for
private clients. www.eura-relocation.com
Association of Relocation Agents:
agents to help you with everything from settling in to concierge services.
It is mainly aimed at immigrants to the UK, but many agents also deal with
Brits heading abroad. www.relocationagents.com
AND FINALLY . . . A BIT OF FUN
The Real Estalker : hot
gossip on the property habits of the stars. http://realestalker.blogspot.com/
Forbes : for the truly
wacky, look across the pond – Forbes has compiled slideshows of
real estate bling. www.forbes.com/realestate
Star Driveways : only in
America . . . the driveways of the rich and famous, past and present. www.stardriveways.com
SCREENSAVER
JULIE MINNET, above, is hunting online for a property in northern Majorca for
her father, who plans to retire there this year. “My father is
computer-illiterate so it has been down to me to do as much research as
possible,” she says. “I can’t imagine how people managed buying abroad
before the internet. It’s been great for researching tax issues, healthcare
and finding an English-speaking lawyer.”
However, she has “yet to find a website that gives you an overall view of the
area – an equivalent to lastminute.com.” Her father is planning to visit
Majorca in the autumn to view properties and will have a stack of paperwork
from Julie’s hours on the internet. “There’s just so much you can do online.
Nothing beats going out there and looking at the area and properties for
real,” she says.
LORNA BLACKWOOD
TOPTIPS
Spain is still the top location for the British buyer. There is an increased
interest in inland areas and Granada, Jaén and Tarragona. Barcelona and
Madrid are the most expensive areas but sales are still healthy. France
comes a close second for British buyers with more undiscovered regions.
Currently, the areas with the largest number of inquiries are Brittany and
Poitou Charentes. There is also a growing interest in Languedoc-Roussillon.
Nicolas Sarkozy is pushing to make France a nation of homeowners, which will
help to raise prices. South East Asia is trying to attract the European
investor. Vietnam is making it easier for nonnationals to own homes, and
Thailand is proposing a change in the law to attract retirees. Germany,
below, which has the lowest home ownership rate in Europe at 43 per cent,
remains popular with investors. Berlin is still top for British buyers but
insiders also suggest buying in Munich,
Frankfurt and Baden-Württemburg. India’s property market has shot up over the
past year. Goa has long been a favourite but for pure investment try Mumbai,
Delhi, Chennai and Bangalore. The Indian Government is making it easier to
buy but it is still hard to repatriate cash. Source: OPP Magazine, www.opp.org.uk
SPANISH STEPS
Gary and Rebecca Peacock, above, moved from Manchester to Marbella this year.
“We used the internet to get a feel for the market” says Rebecca. But it
wasn’t until they arrived in April that they found their ideal property,
Arana de Mijas, a new development in the mountains with sea views. The
scheme is 20 minutes’ drive from Málaga town and within striking distance of
the airport: “Gary still commutes to Manchester each week, so the location
is a godsend.”
Their new home will not be finished until early next year so the Peacocks are
renting – which they think is the perfect way to introduce yourself to a new
country. Rebecca says: “Buying over the internet is fine for investment
purposes, but if you are looking for a property to make your home, it’s
better to actually go over there and get a feel for both the place and the
property." LORNA BLACKWOOD
Another really useful site for anyone interested in buying property in the South of France is http://www.francesouth.com
It's also got plenty of videos, photos & maps etc
Dave Smith, Nice, France
If you are looking to buy in France, then you can get bargains by looking just outside the property hotspots covered by the leading agencies.
I speak from rueful experience. I want to sell a super house in the south of the Loire Valley, but the agencies I would like to use, given their customer profile, do not have partner agencies in my immediate area, and French agencies are notorious for not taking on anything too far from their offices!
Take a look at the map of the areas surrounding your chosen spot, then look at notaires and local agencies on the fringe. I can assure you that you will get a good deal this way.
Leo, St. Clémentin, France
leopold devries, st clémentin, france
For the south of France's Languedoc-Roussillon region, this site is invaluable www.creme-de-languedoc.com
It has lots of solid property buying advice, and we've found a couple of holiday homes to rent through Creme de Languedoc that were first-rate.
James Taylor, Montpellier, France
We've been looking for a house in Natal, Brazil and have found the staff at www.beachpropertyinvestment.net very helpful. They all speak English, seem reasonably priced and will even build you a bespoke home to your own specifications.
Liz Webster, Leeds, West Yorkshire
We found this site invaluable when we we bought our home in France, very useful and informative. We still use it now as it's great for checking the weather.
http://www.lost-in-france.com/
Joe, Angers, France
i recently used www.InternationalEstates.net to purchase a property in Brazil. Excellent service, and exciting portflio, i give them the thumbs up for sure!
jim, Manchester,
Try ruralspainproperties.com. It covers northen and inland Spain.
Richard, Madrid, Spain
Has anyone purchased a property through obelisk international? I am thinking of buying something 'off plan' with them but would like to find out more.
Thanks
Tracy, woodford, Essex
We have been looking at property in Brazil and we ended up buying a villa in a nice little fishing village in the north east, we even spotted a couple of very famous brits walking around town!
The process to buy is reasonably straightforward as there are a few rules and regulations to follow for buying a property in Brazil as a foreigner, but once you have completed it, you own full freehold title to the property.
We were helped all the way through the process by a company called uv10. Their website address is www.uv10.com and contains a lot of information on the buying and selling process as well as the news about the property market.
David Hoskings, Pinner,
I bought my property in France through A Place in France.
It was an off plan property. They arranged everthing for me (viewing trip and meeting with the developer).
They also did not charge commission on top of the prices which was a good thing.
Their website is www.aplaceinfrance.co.uk
Dave, London, UK
Me personaly, I found www.davidstanleyredfern.com the most infomative and have the widest selection of investment property in emerging markets which I'm shocked you didnt have in your top 50 overseas property agents!
Lyndsay Shaffer , Oxford , UK
I noticed that your list contained only estate agent type websites none that allowed private sellers to list thier properties . I recently bought a Property in Dubai using Homesgofast.com they arranged a viewing trip for me and met up with their staff over there. They did not charge commission on top of the prices like some agents a website that has actual staff that can help. The website is much less complicated than some you have mentioned in your top 50
John Sanderson, London, Central London
For me, Propertymartoverseas.com is the ultimate place to find a place in the sun. I could spend hours looking at their properties from Spain to Slovakia, Brazil to Bulgaria!
www.propertymartoverseas.com
Sinead, Marbella, Spain
I found this very impressive site whilst researching Andalucian properties for a friend www.imagesofandalucia.com It’s the best I’ve come across for property in Southern Spain and is extremely user-friendly. Well worth a look.
(They also have an international property portfolio at www.pavilionsofsplendourinternational.com for up-market & unusual properties).
Dianne Shotton, Gaucin, Spain
The definitive Australian real estate listing site is www.realestate.com.au
luke woollard, burleigh heads, queensland australia
I have recently bought an apartment in a gated & secure 5* development in Bulgaria (and luckily not in overcrowded Sunny Beach). Have just returned from an inspection trip and could not have been happier!
www.bulgarian-property4u.com
Tania, London, London
I agee about redence.com my father has found an old shooting lodge near Brasov in Romania. He has not bought it yet but is viewing it next week
anna, Miami, Florida
If you'd like to take a "no lose" money back £100 flyer on a sweet suite studio on Mallorca with a private terrace looking at the pool and the Med, take a look at http://www.myhideawayinspain.com. The winner will be chosen on 22 September and the people behind it, Scott's Hotels, are straight up, legit and legal. If you're lucky you could wind up with a £175K property and if you're not the lucky winner you can get your money back.
Abigail, Granada, Spain
If you are feeling really adventurous and wish to buy property in Eastern Europe I found a website with all leading agents called "redence" its in english
Tony, norwich, norfolk
A leading Estate Agency in Barcelona has recently reported a fall of 90% in sales volumes, and sales in Madrid are also slowing. Sales Volumes in many coastal resorts in Spain are down.
Perhaps those who wish to receive a monthly report on the Spanish property market should sign up to Mark Stucklin's www.spanishpropertyinsight.com
Prospects in Portugal are generally better than they are in Spain however coastal areas in Portugal may also suffer if there is a sharp downturn in coastal areas in Spain, and this is looking increasingly likely.
Quality product within well planned and secure communities with a tight supply of new inventory will deliver more consistent steady capital growth patterns and solid income returns.
This downturn has led to a more normal supply environment and estate agents being able to dedicate more time to looking after their clients, which is pleasing to note.
Bernard Hornung, Lisbon, Portugal
Be careful about Spanish real estate. The "land grab" laws have created many unwary victims. Spain appears to be the only country in the western world where clear title insurance cannot be obtained, principally because of the version of state sponsored theft-aka "compulsory purchase on steroids".Check www.abusos-no.org
Charles Fitzhugh, Alicante, Spain
Part 2 (and last)
And check out those courier deals the major airlines offer. A 12-hour flight is not such a knee-buckler when you pace yourself, assuming you aren't lumbered with children. So grab yourselves a Lonely Planet and get researching.
Andrew Milner, Karuizawa, Nagano
With regard to the statement " India government making it easier to buy there" the complete OPPOSITE is true!
Please view websites www.BritishExpats.com (Goa forum) and www.Indiamike.com to view the problems of HUNDREDS of Brits are facing there ! It is estimated that around £26million worth of properties are possibly up for confiscation by the Indian Government!... We are actively seeking press attention to highlight this alarming plight.
Could you please comment on this?
Kevin Pulford, Birkenhead,
You have missed a great property site, www.propertyline.co.uk, which also has a vast selection of properties around the world. I found a perfect Spanish villa in no time!
Stephen Hughes, Leighton Buzzard, UK
Recently bought a property in Spain, found HOUSE ON THE COSTA BLANCA a very professional and helpful estate agents.
www.houseonthecostablanca.com
Brian Kelly, Brighton, Sussex