Property buyers 'becoming very astute'
Property investment abroad: 02 June 2008Second home buyers are becoming more discerning when purchasing a residence overseas, experts have stated.
According to Seven Continent Investment, consumers are increasingly looking to a buy a property which offers both financial and lifestyle attractions.
Ryan Chana, senior partner at the firm, said this is partly because the markets in hotspots such as Spain have become saturated.
This means that many people are having trouble selling it on and making significant returns on their investment.
Mr Chana believes this is one of the factors that has triggered the interest in many emerging markets across the world, such as places in South America.
He commented: "They are becoming a bit more astute about where they are buying."
This comes after a report by HiFX revealed that interest in buying property in France and Spain has declined by 11 per cent and 12.5 per cent respectively in the last three months.
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