Here’s why having a property abroad is a great way to invest your money and how you can do so successfully.
Just like investing in property at home, there is potential to buy at a low level but vastly increase commercial value. Not only this, but you get the benefit of having a holiday home when not renting.
The number on reason why overseas investments are encouraged is that they often offer preferred capital growth and larger rental yields than buy-to-let properties in the UK.
You need to factor in where you are buying property, looking at the strength of the economy and the property market.
Thailand is the perfect example of a good place to buy and invest in property with the largest amount of foreigners making property investments in Asia.
It is a business and trading hub and is also a popular longer-term travel destination.
To find out more about Thai real estate click here
The hardest part of having property abroad, of course, is finding tenants. With the stress of maintaining the premises, finding tenants can be difficult, and word of mouth recommendations aren’t sustainable. Depending on the location of your property, you can use low fee holiday letting websites although if you are looking for longer-term tenants, it is advised to seek help through an estate agent.
Once you have decided to invest in a property overseas, you must consider the costs of each element from income tax on the rent you receive, to the cost of maintenance you have to do in order to offer the highest quality property.