4 reasons why this is the right time to invest in overseas properties (and why you shouldn't wait much longer)
Popularity of overseas property investments is on the rise and there are several reasons for this. The mediterranean real estate markets have re-established themselves, providing more long-term security models, and so has the confidence of property developers, refurbishing and remodelling crisis remaining developments to first class standards and building new developments for all tastes in traditional markets like Portugal and Spain as well as new rising and booming, but yet secure markets like the Cape Verdean Islands.
Banks have stopped capitalizing the people's money, and the real estate industry has correctly identified this need, designing products that both meet their capital demands as well as the security, profitability and when it comes to resort properties even enjoyment of the investor. The very first reason ...
A second reason is the will of certain governments to attract foreign investment of all scale. Whether it are big developers investing in a new country, or retirees seeking a third life in better climates, both benefit from tax advantages that make any investments even more affordable. Intra- and extra-European double taxation agreements allow an income tax-free retirement plan in certain countries like Portugal, who has signed such an agreement with a multitude of countries, including most of the European countries as well as many other countries. With the economic return however of previously crisis-affected countries like Portugal, there is competition based pressure from some political movements from the emitting northern European countries to abolish these treaties, as they would represent a tax income loss to these countries. A first reason why you shouldn't wait much longer.
A third reason is enjoyment and life quality. We already know that your money hardly grows while sitting in a bank. Banks previously were able to attract you with their money growing saving products, but not anymore. What banks never were able to provide you with is extended life expectancy and improved quality of life before and after retirement. If you invest in overseas property, typically located in prime resort areas around the mediterranean, you can maximize your asset's return by having it managed on the holiday rental market, a hotel management company if your property is part of a resort or let it on the long-term rental market. But you can also opt not to do this or only do this during certain times of the year, enabling you to avoid northern winters by taking advantage of your property during the winter season. And if you invest in properties within booming and thriving markets like the Cape Verdean Islands, your property's value will increase, giving you some return on your investment in any case, while using it and taking advantage of better (and healthier) climates.
The fourth reason is not to miss, especially if you are looking into financing your property through a mortgage. Mortgage rates are at its lowest at this moment. It hasn't been this cheap to borrow money in decades. Mortgage prices will go up again, there is no to little doubt about this. Take advantage of cheap money today and secure your a low cost mortgage with fixed and secured rates. In case you haven't guessed it, this was also the second reason why you shouldn't wait any longer.
And make sure to choose a property in a country without any limitations on foreign property ownership. This ensures that after signing the deeds, the property is yours and will remain yours and will be inherited by your children or next of kin. Like this, you haven't only extended your income and life expectancy, but also your children's future. The most beautiful reason!
Belalgarve is specialized in resort property sales as well as managing your property on the rental market after purchase. We operate in Portugal and Cape Verde, with the mission to identify and find the investment property that suits your needs best, as well as maximizing the income of your asset after purchase. Please feel free to contact us if you need any more information.
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