If you are looking for a place to buy a foreign home, there are few better places from which to take your advice than the Financial Times. And now, the FT has identified Brazil and Florida as two of the best places in the world to consider buying an overseas home.
The FT reports: “While recent research from Knight Frank has found that wealthy buyers across the globe are planning to invest more in residential property, analysts warn that investors should research the location of any overseas purchase, as many countries offer little value.”
Brazil’s economy is booming. And, with this wealth has come a huge aspiring middle class who are driving the local demand for Brazilian property. There is also significant investment in the country ahead of the 2014 World Cup and the 2016 Olympic Games
The FT says: “There has been a marked increase in interest from British and international investors in Brazilian property this year, driven by the country’s growing economy and strong economic fundamentals.”
In addition, the respected paper identifies Florida as another location to consider.
Florida
The Financial Times says: “Property analysts believe Florida is worth a look due to price falls of as much as 40 per cent since the credit crisis.”
With increased numbers of distressed properties – homes that are being sold by mortgage lenders having been repossessed – prices in the state have fallen significantly. This offers an excellent opportunity for Brits to snap up a property bargain.
The FT advises that mortgages may still be difficult to arrange in Florida due to the continued fallout from the credit crunch and the global financial crisis. However, it also advises that is possible for investors to achieve rental yields of between eight and ten per cent in the Disney World state.
