Buying property has never been more popular. Factor in the love of sun, sea and sand and you have a very strong motive for buying properties abroad.
Since industrialisation we have been allowed to take holidays away from the work place for our physical and mental health and the holiday industry has grown up around this tradition and need. Indeed, we all looked forwards to the ‘works fortnight’ which was the last week in July and the first week in August and saved up for the chance to relax and forget about everything. Our innate love of sunshine drew us to places where there was an abundance of warm sunny days.
Popular destinations were those where we were more assured of warm weather and a chance of getting near the sea. Holiday camps and resort hotels were busiest where tourists could be sure of sunshine. More affluent holiday makers ventured abroad to get their fix of the sun. Eventually people like Freddy Laker saw an opportunity to make money from holidays abroad where there was more chance of the good weather and package holidays were born. Budget airlines have subsequently grown up around the holiday industry and although not all of them have lasted the test of time and the rigors of the market it is still possible to obtain cheap travel.
With the growth of the airline industries more and more people now holiday abroad and there is a great opportunity to profit from this. As flying becomes more commonplace so too do the number of countries to which tourists can be attracted. Not just those countries with warmer climates but also areas of special interest and historical significance.
Buying property abroad can therefore be both enjoyable and profitable. While a home abroad can be useful for own use it can also be an opportunity for income when let out to others. A second home can be a good source of income when not being used by the owner
Likewise purchasing property abroad solely for the purpose of letting it out is now seen as an income supplement or even a full-time occupation. Many countries have facilitated the purchasing of properties by overseas buyers and as long as you follow local rules and legal requirements the process can be fairly straight forward.
For the more serious property buyers there are other incentives for buying abroad. Some governments have made allowances for foreign investors to buy into their real estate on a larger scale and are offering residency permits or even citizenship for the right purchasers. Investors with a larger amount to invest can find themselves in a profitable bargaining position.
Having explored all that, there is still a lot to be said for those of us who just want to supplement our pensions and have a place in the sun to relax and enjoy whenever we can. This can quite easily be achieved by purchasing through an intermediary or agent, or by buying direct. All we need is a good knowledge of the area and the potential and a certain amount of good legal advice to make our dream holiday into a profitable venture.
