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International Mortgages
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Overseas property investors will find that French banks are offering "increasingly competitive" products, it has been claimed
Matthew Weston, overseas mortgage manager with Blevins Franks, believes that the country's financial intuitions are worried that the boom in the French housing market is coming to an end and, for this reason, they are keen to attract borrowers.
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International Mortgages
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Spanish bank Banesto, part of the Santander group, has recently taken the dramatic step to withdraw all of its own Non-resident mortgage lending.
The only product it will offer to foreign applicants is a self-certification loan which they are administering on behalf of GMAC.
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International Mortgages
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 House prices have begun to fall in the Greater Riga area – a fall of 3.5 per cent in the month of June, following a fall of 1 per cent in May.
Prices have fallen ‘for the first time in history’, according to the leading Latvian real estate agent Latio, which if not quite accurate, emphasizes the sense of shock.
These figures are consistent with recent warning signs, but they are all the more shocking in that year-on-year to Q1 2007, Latvia was Europe’s strongest performing housing market with price rises of 44.23 per cent.
The Global Property Guide believes these latest figures signal the end of the Great Baltic House Price Boom. |
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International Mortgages
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UK-based overseas property investors are being advised to approach the Bulgarian buy-to-let market with caution.
Les Calvert, director of Property-abroad.com, said the first thing British investors needed to consider was the sort of term they were looking at, whether short or long-term, purely for capital growth or as an investment rental.
He added that the ski season was very short in Bulgaria, like the summer, and suggested investors would need to be careful if they were looking purely for rental yield.
"They need to be careful where people have built-in rental schemes guaranteed - for instance, if you buy your property and it has guaranteed six per cent rental for two years," he said.
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International Mortgages
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 With the exchange rate reaching its highest ever point recently and an oversupply of housing, now is the time for overseas property investors to pick up a bargain in the US.
With the exchange rate reaching its highest ever point recently and an
oversupply of housing, now is the time for overseas property investors
to pick up a bargain in the US.
Adrian McDermott, managing director of property investment website
Escapes2, suggested that the exchange rate was historically high in the
States, adding that people received an "awful lot" for their money.
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