Foreign property investment to be fuelled by equity release?
11 August 2011
Now may be the perfect time to invest in foreign property.
While many people use equity release schemes as a means of funding holidays, others may look to go one step further and venture into the housing market abroad.
This could then act as an alternative form of retirement income, while also offering UK-based pensioners somewhere to relax when they are in need of a trip.
James Dearsley, European sales director for Atlas International - a company that provides a large range of overseas property and advice for consumers - noted there has been a "remarkable transformation" in the overseas property market since the end of last year.
"Realising that prices have been stable for the last 12 months and that they simply cannot get any lower - with some builders selling at cost price - clients are buying now," he added.
Homeowners aged between 55 and 95 and wondering whether they are eligible for the scheme can use an equity release calculator at Key to find out.
Mr Dearsley observed Spain has a number of great deals at present, while it can also offer something the UK market is lacking in - sunshine.
There has been an increase in the number of people who are starting to think along these lines.
Research recently carried out by the Worldwide Property Group found Britons are increasingly considering investing in properties in foreign climes.
Some 67 per cent of respondents to the survey said now is a good time to buy a house abroad, while 65 per cent said they are actively mulling over whether or not to make an outlay.
The US, Turkey and Portugal were the three most popular locations for those who participated in the poll.
Individuals who have decided to go down this route may choose equity release as a way to raise the necessary finance.
Posted by Claire Ford