Date published: 01.09.08 - not release date

NEVER MIND THE ENTRY CHARGE HOW MUCH DOES IT COST TO GET OUT?

Buying overseas property has become one of the defining characteristics of consumer behaviour over the last 30 years and the rate of activity is increasing at an unprecedented rate. No longer is it just the UK citizens heading the charge. Natives of Scandinavia, Germany and the former Eastern bloc countries are all flouting their affluence through the medium of bricks and mortar.

Yet how many of these new adventurers are drawing up clear criteria for their purchases
- and how many of those that have done, have taken the issues of political stability, climate change and the costs of cashing in their investment seriously?

Ray Woods, a spokesman for UK-based www.maltabuyproperty.co.uk said,
“The current troubles in many parts of the World may affect consumer behaviour in much more long lasting ways than we think – particularly in regard to the purchase of foreign property.

For many potential buyers, the purchase of an overseas property is a very big step that can be fraught with anxiety.

We always recommend to potential clients that they begin their planning by drawing up their own criteria. This helps them to be more confident in their choice of country or region. For example, language barriers, local or regional government planning considerations, sound property rights, resale opportunities, climatic and geophysical concerns - and of course, political stability should all be taken into account at the outset.

Unfortunately for many, their attention is focused too heavily on the initial buying price. This is understandable, but it can lead to a dream becoming a nightmare. Exit costs for example, can be higher than anticipated diminishing the true return.

The current political events in Russia, Thailand and the Middle East must be leaving many existing and potential domestic property investors nervous about the economic impact. Previously, it was mainly other criteria that took precedence! Equally, extremes of climate arising from global warming may also have long-term effects of confidence and the value of property.”

For more details, go on line to www.maltabuyproperty.co.uk or Freephone 0800 781 1898 for informal advice and guidance on buying property in Malta.
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Issued by: Ray Woods of www.maltabuyproperty.co.uk in association with Frank Salt Real Estate Tel: Freephone 0800 7811898 (UK) or +441213732440 .