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Foreign property investment prices fall

20 April 2007
The strength of the pound has allowed UK foreign property investors to take advantage of some favourable - and profitable - market conditions, according to currency specialists HiFX.

At $2, sterling has now reached its highest level against the US dollar since 1992 and remains an impressive 20 per cent ahead of its average over the past two decades.

As a result, those looking to purchase a property overseas are encouraged to consider making the financial commitment now due to the current economic conditions.

Mark Bodega, marketing director at HiFX, explained that locking the existing currency rates in a forward contract could provide a welcome boost to securing a dream property abroad.

"Most property purchases abroad take between eight and 12 weeks to complete, so people need to think about currency fluctuation between the time of signing the contract and the final payment actually being sent," he explained.

"For those planning to take the plunge and buy in a dollar country, now is a fantastic time to get the most for your money."

Locations such as the US, the Caribbean, China, Malaysia and Belize were singled out as having strong potential for foreign property investors.

Find out more about investment properties abroad

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