How many of us have dreamed of owning our own holiday home in the sun? A small piece of accessible paradise we can call our own. Most, I'd imagine. A fortunate few have done it already, and, in most cases, are reaping the rewards. So what are the opportunities and, importantly, what are the risks of buying bricks and mortar abroad?
Well, as with any investment, the greater the potential reward, the higher the risk, and this is surely the case with property investment. These days the media is wall to wall with features about ‘Buy to Let’, or in the case of overseas investment, ‘Fly to Let’, where ordinary folk are taking the plunge into the emerging markets of central and eastern Europe with great gusto and high expectations of solid returns.
Driven by a belief that fortunes are to be made by identifying a property hot-spot and getting in early, thousands of us are doing just that. And the numbers are growing fast – driving up prices even further in many places.
Whichever place in the sun you choose, you can be buoyed by the fact that the market for letting of private holiday accommodation is growing substantially year on year – and if it is an accessible apartment or villa, expect the demand to be even greater, meaning you could fund much of your investment through rentals!
Even the major tour operators recognise the threat from this private-ownership sector, which now sees more than 5 million of us choosing to book direct (mainly through the Internet) with villa and apartment owners annually! So watch out for travel agents starting to sell properties as well as holidays very soon!