Research 'important' when buying property abroad

13 September 2007
People considering buying property overseas have been advised to do their homework before committing to a location.

Pelle Langli, chief executive officer of Emerging Real Estate, said that people need to do their research on the local economy and the sustainability of their property investment.

"And for the investment market, they need to look at exit options. How can I get out of this investment if I wanted to?" Mr Langli commented.

The amount of information available on the internet is a positive development, he added, stating that property buyers can "get a feel" for the market before choosing whether or not to invest.

According to the Association of International property Professionals, UK investors spent an estimated £20 billion on property overseas last year.

The organisation noted that the average price of a property bought by a British investor stood at £98,166 and the most popular locations were Spain and France.

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