Location, Location, Location – But How About Political Stability?

Buying overseas property has become one of the defining characteristics of consumer behaviour over the last 30 years and the rate of activity is increasing at an unprecedented rate. No longer is it just the Brits heading the charge. Natives of Scandinavia, Germany and the former Eastern bloc countries are all flouting their affluence through the medium of bricks and mortar. Yet how many of these new adventurers are drawing up clear criteria for their purchases - and how many of those that have done, have taken the issue of political stability seriously? Ray Woods, a spokesman for UK-based said, “The current troubles in the Middle East may affect consumer behaviour in much more long lasting ways than we think – particularly in regard to the purchase of foreign property. For most potential buyers, the purchase of an overseas property is a very big step that can be fraught with anxiety. We always recommend to potential clients that they begin their planning by drawing up their own criteria. This helps them to be more confident in their choice of country or region. For example, language barriers, local or regional government planning considerations, sound property rights, resale opportunities, climatic and geophysical concerns - and of course, political stability should all be taken into account at the outset. Unfortunately for many, their attention is focused too heavily on the initial buying price. This is understandable, but it can lead to a dream becoming a nightmare. The current events in the Middle East must be leaving many existing and potential domestic property investors nervous about the political impact. Previously, it was mainly other criteria that took precedence. The good news is that there are many parts of the World that do satisfy these criteria – Malta for example being one of them, but then I’m biased!” advice and guidance on buying property in Malta. ENDS