While owning residential real estate is typically part of a diversified investment portfolio, what is different in the last year or two is the role the uncertain economy is playing in making purchasing decisions.
The middle-market buyers are spending $250,000 to $500,000 on single properties, but high-net-worth individuals are spending $1 million or more in many markets, including the Caribbean and Europe, said Ms. Peddicord, the founder of the Live and Invest Overseas publishing group. “We’re seeing increased interest in Panama and countries where the U.S. dollar is strong,” she said. These include France, Spain and Portugal.
Read full article in The New York Times
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The Costa del Sol has always been a popular place to buy property, although those wanting to sell may have struggled to find a buyer with so many homes on the market.
But this year has brought positive news. For example, according to property consulting agency Aguierre Newman, the time it takes for a property to go on the market for sale and then be purchased by a buyer has been reduced by more than half.
Not only that, but the number of new builds that have recently been introduced onto the market has increased by 4.87% from last year, reaching 15,555 homes. This is the first rise since 2007.
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