Overseas Property

A guide to buying property abroad


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Buying Overseas Property can be very rewarding both for pleasure & financially as long as you are careful & take advice. Therefore if you're considering buying property abroad, please take the same precautions as if you were buying at home.

Do your research first. Use the internet. Research information about countries you are considering. Consider climate, cost of travel, frequency of flights, stability of economy etc. Our Best Place to Live pages should give you a good start. Look at property sites to get an idea of prices. Contact ex pats living in the countries you favour & get their advice. There are numerous ex pat forums such as Easy Expat, expat exchange or british expat which you will find invaluable. When you've found a destination, read a buying overseas property guide specific to that country. Take a look at our country pages for more information.

Take a trip to your preferred country. Allow yourself at least a week, preferably two. Hire a car & have a good drive round. Don't limit yourself to one area. Talk to the locals, including ex pats who have already bought overseas property. Visit more than one local estate agent to get a feel for the market. Try to use an agent who has been recommended to you by an ex pat. Personally I would say that you should not buy a property on your first visit to an area unless you are 100% sure it is what you want at the right price. Lorraine & I visited Bodrum 3 times before we finally decided on our purchase.

Find a local lawyer who speaks good english. A local lawyer should know all the peculiarities of the country & area in which you are buying. A lawyer in your own country will not have that advantage. Again, go with recommendations from ex pats for hopefully unbiased advice.

Understand the costs of buying & the costs of ownership including local taxes. You don't want to find any nasty surprises after you've parted with your hard earned cash. Budget 10% on top of the sale price for costs of buying & you won't be far out.

Buying off Plan -- Generally you can achieve a discount of around 30% if you buy before a development has started. Developers give a large discount to attract early buyers thereby increasing confidence in the development & to help fund the development. There is of course an element of risk involved when buying off plan so check the developer out to ensure he is well established. Build quality can vary enormously so ensure you view previous development by the same developer & speak to the owners of these properties. Inspect the houses very carefully. Look out in particular for damp problems. As we found out when researching for our own property development in Turkey, it is very common to find houses have a problem with damp. Post on the ex-pat forums mentioned above & ask if anyone has heard anything good or bad about the developer.

What will happen to your money if the developer goes bust ? If you are thinking about buying off plan you need to think about this & many more questions. Read some of the articles below to help find out what you need to know.


Continue to Property for sale in Turkey


Overseas Property Articles

Buying Property in Turkey
(opens in new window) -- our own page with a wealth of information.

5 Hot Tips for Successful Overseas Property Investment
(opens in new window)
-- contributed by Rhiannon Williamson

Buying Bulgarian Property
(opens in new window) -- by Surrinder Ahitan

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