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Investing in Europe?
I'm wondering how Australia and NZ citizens view investing in property in Europe? Apart from huge choice and variety because of the number of countries and locations in Europe, what's the general opinion?
I can think of distance as a main problem, as in, if you don't think about moving permanently yourself, investing can seem a risky business, since you can't just be there every time you have/want to. Is it a real problem?
So, is it popular, in Australia and NZ, to look for property investments in Europe? Or the European market is not high on the list when it comes to properties [even though financial aspects do seem favorable]?
Investing in Europe?
The European market keeps being favorable for investing, depends what is the main target: turnover, the summerhouse, favorable climate conditions, the closeness to the business centers, mastering of the language, etc.
I am presenting the Spanish real estate market and I could advise you on this beautiful as well as investment-attractive place in Europe.
You have asked such an excellent question. This is impressive one. I my self want to know that. The reason is that I Myslef running a Property Business. If I would invest more than the benifits should must known.
I think to overcome the issue of distance, you'd need very trustworthy property managers in the foreign country. Regular due diligence would also help, which means you visiting and checking up on the place once in a while. I'd suggest that you invest in Aus or NZ first so you can understand the local issues and challenges, before going overseas though.
Well the issue is one thing that not enough persons are speaking intelligently about. I am very completely satisfied that.
Originally Posted by Alex K
I am an american citizen and live in America for the most part. I do travel to Europe often do to my line of work. However, I bought a few properties in Hungary and got a management company to handle all whats necessary.
I think it is almost mandatory to have a management company to handle your business if you are not present the whole time. I do travel to Hungary often but I can honestly say that I could not do it on my own. So it is a good thing to have a company who can back you up.
In my case, they take care of everything and transfer the rental fee to my account each month between the 1st and 10th. Every three months I get a report from them about the state of the apartment and if there were anything that needed some attention. Like last month I got an e-mail about 3 light bulbs that were exchange. So I can say they are pretty serious about their job. Of course they do not work for free but I feel comfortable with them taking care of my properties. So at the end of the day I am very satisfied with Central Management. I am sure most countries do the property management the same or similar. Advice, make sure you check the background of the management company you work with. That way you can block out the unwanted management companies. Good luck to you!
All the best,
Even without talking about regions, if a person is intending to invest in property overseas, it's always a good idea to engage an estate agent in that particular country that you're interested in - someone who knows the lay of the land and can help you through the inevitable paperwork and requirements of purchasing some property in a very different landscape from your own.
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