I just read a Telegraph article by Zoe Dare Hall, a writer whom I like very much, usually, but on this occasion I am still trying to work out the point of the piece.
It tells the story of the overseas property boom gone by, portraying buyers in a dim light, and then comes to a rather abrupt end as sharp as if the pen had run out of ink.
Unlike the other articles in this series, for the purpose of this chart, I will not be charting the emerging markets that I am trying to say are the best for property investment. This is because there are far too many far too closely matched. So this time I am saying that — while they are among the best in the world for property investment — the emerging markets detailed below are simply my favourite emerging markets to make property investments in.
Brazil property has been receiving a lot of negative press in recent weeks, because of Spanish developers being arrested for fraud because they took monies for developments in Brazil that they never really intended to build.
The Times ran a particularly sombre piece on the three family members who had each paid a down-payment of 30,000 Euros, and were now as disappointed by the fact that they will never get the property in Brazil they had dreamed of, and because they are left severley out of pocket.
But all those people who are now very upset and out of pocket could have saved themselves all this misery by carrying out their own lengths of due-diligence before putting their hands in their pockets.
You hear of people all the time putting their money down before they have even been to the country. Most of the time this goes just fine and the people end up with the keys to their new apartment or villa and a smile on their face, but then there are the 1% that don’t and this can give the industry a bad reputation.
I always advise the people with whom we discuss an overseas property purchase off plan to go out and do some research on the development and the developer, here are some of the things you should research: