International Market Conditions

In recent months, the sales of luxury homes in Ontario and Scotland are taking off as buyers seek to re-enter the market and invest in properties far from their homes. Many countries have seen a surge of interested buyers and this good news indicates that the global real estate market is on its way to a swift recovery. This is not to say that there are still some regions that are struggling, the general trend is that home purchases, as well as condo purchases are on the rise. Individuals looking to buy a home or a condo (even a time share) in a foreign country, this may be the right time to do so.

There has been an increase in interest in Scottish, British and Irish country houses lately from not only Europeans, but North Americans as well, especially due to the exchange rates which allow consumers to get more value for their hard earned dollars. Likely due to the global economic downturn, many markets, including international real estate went through a lengthy period of negative adjustment in which prices fell drastically in all corners of the globe, but now we are confident to report that it is a good time to buy. Whether you are looking at condos in Dubai or Denmark, investing in these properties right now is a smart decision. The worst of the downturn in the real estate market on a global scale is now history.

Ever since the global markets bottomed out, major real estate transactions have almost tripled. Agents with top quality properties, and the database and resources to reach the cash-rich buyers, are seeing a dramatic increase in buyer registrations, viewings and, most importantly, successful sales transactions. Recent purchases of luxury homes from cahs-buyers indicates that the global real estate market is in healthy condition for million dollar home buyers as well as smaller family homes or condominiums. Just as Americans who purchase secure Arlington Texas homes for sale and then rent them out for an easy profit, many families are finding the home of their dreams and making the most of this time to buy.

Coodham House in England, a recently renovated Victorian mansion located in the serene setting of rural Ayrshire consists of six apartments as well as three homes, is an excellent example of standard London based property being snapped up at reduced rural prices. The response from many countries has been totally overwhelming. They've had interest from America, Canada, Scotland and even as far as Australia asking for details or showing signs of interest. These buyers may have opted out of a local home in favor of an investment or vacation property in the UK.

Clearly there are advantages to buying overseas and internationally, especially in this uncertain economic climate, as this example shows in England, but France is another source of wealth for great deals in real estate.

Owners who previously had homes in France themselves are now finding tenants to rent to in order to make ends meet. Many international buyers are also snapping up French country homes to vacation at, or rent out when they are not in country. These landlords may sell in the near future, or when the market fully recovers, but until then this is a great way to make extra cash, and still own property internationally. This is not to say that a French property is a guaranteed way to discover untold wealth, but, mostly thanks to the global downturn, it may be a great deal cheaper to buy now than in years or months to come. And it may make for a more enjoyable weekend away than a buy-to-let in urban Britain or a time share in Mexico or that old trailer Orlando Florida.

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Sunday, July 21, 2024