One of the most established international for sale by owner websites based out of the UK has released its top 5 hot spots for owners looking to sell and return home. A survey of over 500 owners selling directly themselves from the platform reveal some surprising results. South American homeowners take the lions share of those wanting to move on from their retirement or second home overseas. It seems that the results show that when age becomes a real issue there is no place like home.
Belize has been one of the favourite destinations for US citizens attracted to low real estate prices and it’s legal system which is based on British common law. Its stable exchange rate to the U.S. dollar, an economy growing at approximately 20% annually makes its great place to buy abroad. Despite good health care the number one reason cited by home owners wanting to sell up was health concerns.
There are no restrictions on foreign investment in real property in Ecuador, except within 50 km. of the country’s borders or coastline. In Ecuador, many properties for sale are not listed and there are no multiple listing services. Real estate transaction is highly localized in Ecuador. This makes it difficult for those who are not locally based to get information about the property market.
Colombia has constitutional protections for foreign property owners, making it one of the safest places to do a real estate deal. Property loans from Colombian banks are difficult to get as most banks do not issue mortgages to foreigners. Most foreign owners looking to move own their Colombian property outright which does present some real bargains
Nick Marr Founder Homesgofast.com the for sale by owner site in question commented, “Foreign owners taking to the internet to sell their dream homes have increased over the years and 2017 has seen a 30% increase in South American real estate including land plots going on sale.”
Portugal might be a little more expensive to buy a home than its competitor Spain, but the benefits, like climate, and the most important consideration, safety, are top priority for international buyers. Portugal’s Silver coast offers some stylish places to live abroad. Whilst Vilamoura in the Algarve region of southern Portugal attracts Europeans owing to its large marina, golf courses and casino. Like all good things that come to an end, many Brits selling up often do so to return home to the safety of the NHS and to be with relatives.
5. United Kingdom
As a result of Brexit, overnight, due to currency fluctuation, assets on U.S. dollar basis became 20% cheaper in Great Britain. Foreign investors were buying up thousands of homes suitable for first-time buyers in London, using them as buy-to-let investments and often holding them in offshore tax havens, research for the London mayor.
Led by investors from Hong Kong and Singapore, foreign buyers snapped up 3,600 of London’s 28,000 newly built homes between 2014 and 2016, according to the most comprehensive survey yet of international investment in London. Increasingly luxury high end homes for sale have been aimed at the overseas property investor. However it does seem the majority of other locations outside London have not been areas aimed at attracting that elusive foreign buyer