Property investors who want to invest in a holiday home on a sunny destination, have to deal with specific issues. One is the political stability in the country, which could have a significant impact on the return on your investment. Other important aspects to take into account the rental potential and the local rules on ownership and taxes. It is advised to do locally appeal to a counselor or an expert in real estate who knows the local rules. But also a real estate agent in their own country who specializes in foreign real estate can help a long way in your quest for an interesting holiday to invest. Any interesting information from an expert in real estate can play a role in your decision to holiday in a tourist destination whether or not to buy.
Most property investors invest in houses or apartments in their own country. Some investors also focus on other countries, particularly in destinations that are known for their tourism. Often these vacation homes or condos in sunny places such as Turkey, Spain or southern France. Vacation purchased as an investment have some specific characteristics that differ from domestic real estate investments.
The decision to buy a vacation in a sunny destination is very wide. You can choose to invest in homes in the southern countries of the European Union such as the popular Spain, Italy and southern France. In France, Provence is the most popular and therefore the most expensive place to buy property. Outside Europe, particularly Turkey has in recent years made a big advance. There are numerous real estate projects launched in the coastal towns on the Black Sea in Bulgaria and on the Red Sea in Egypt.
With a holiday in a sunny country can not only buy the house itself, but also the stability of the country in which the property is located. The Arab revolutions of 2011 in Tunisia and Egypt have triggered a shockwave through the tourism industry in the respective countries. Who for example had invested in a holiday in the popular Tunisian or Egyptian resorts was then seriously consider a reduced efficiency. Think of it more difficult letting your holiday apartment to tourists.
If you invest in holiday homes in sunny destinations, you keep in mind the potential rental to tourists. Tourists usually rent for a week or several weeks, an apartment and then you can keep prices relatively high. If you have people on the hook can beat who want to rent your apartment for a long time, you can reduce the price some. Think of snowbirds such as retirees who flee the harsh winter. The advantage is that you are insured for a long period of rental income.
Purchase Contract holiday
Who wants to invest in homes in foreign destinations should be aware of the local laws and regulations on the ownership, validity of purchase contracts and property registration. Also you have as an investor in real estate know what the obligations are when it comes to taxation, both in terms of property taxes as a tax on the rental income.
Local real estate expert
It is recommended to contact people with knowledge of the spot business, as a specialist in real estate and a jurist or lawyer. It has already happened many times to enthusiastic investors in the rental of a bare trip come home because they had signed a sales contract invalid, or because they over time were surprised by the high level of belastigen on the location of the property.
An additional tip is to seek counsel in the first place at a real estate agency in their own country that focuses on foreign real estate. Through expert advice, you can already have a lot to learn about potential investment countries and their peculiarities. A real estate agent you can already give an overall picture of the country, local real estate culture and the rules and obligations that foreign owners have to take into account. This information can play a major role in the decision to buy or not a foreign holiday home. Online You can request price quotes from real estate agencies giving you an idea of the price tag of such advice.