Brits looking east for investments
04/08/2006
Britons making property investments in eastern Europe are being warned of the pitfalls they may face.
A survey by the Inside Track Group indicates that three property investors in ten are looking to places such as Croatia and Bulgaria for their next investment, but many are unaware of the risks this involves.
Those looking to invest in overseas property should ask themselves a number of key questions, according to Inside Track Group.
Some of these questions include whether the property would be desirable to rent, whether the resale value will exceed the price it was bought for and also will the property be safe?
Anthony McKay of the Inside Track Group said: "It's a good idea for buyers to consider higher risk, high return properties to go alongside low risk investments that make up the bulk of a successful housing portfolio.
"In Croatia and Bulgaria, though, inexperienced investors are putting their life savings on the line in the hope that they can make a fortune. I fear many people may end up bitterly disappointed because they are not aware of the complications within this market."
Many Brits are currently investing in Bulgarian property before the country joins the EU in 2007.
A survey by the Inside Track Group indicates that three property investors in ten are looking to places such as Croatia and Bulgaria for their next investment, but many are unaware of the risks this involves.
Those looking to invest in overseas property should ask themselves a number of key questions, according to Inside Track Group.
Some of these questions include whether the property would be desirable to rent, whether the resale value will exceed the price it was bought for and also will the property be safe?
Anthony McKay of the Inside Track Group said: "It's a good idea for buyers to consider higher risk, high return properties to go alongside low risk investments that make up the bulk of a successful housing portfolio.
"In Croatia and Bulgaria, though, inexperienced investors are putting their life savings on the line in the hope that they can make a fortune. I fear many people may end up bitterly disappointed because they are not aware of the complications within this market."
Many Brits are currently investing in Bulgarian property before the country joins the EU in 2007.
