People looking at their plans for retirement may want to consider the merits of owning overseas property as part of their nest egg.
Individuals may be tempted to invest in property in Spain following advice from ipsbmv.com, which has warned that millions of people could spend their old age with reduced incomes.
The website recommended overseas property as a good form of investment, particularly after a decision by the Bank of England to increase its quantitative easing programme by a further £50 billion, which will affect savings.
This is the assertion of Jon Ainge, director of International Property Success, who noted purchasing real estate in certain locations could prove to be a sensible move.
“Property investment often gets a bad press, yet I believe the returns from overseas property particularly in locations like the Caribbean, the Algave and the Spanish coast can help fund retirement,”
His comments are supported by recent remarks made by Taylor Wimpey Espana sales and marketing manager Mark Pritchard, who stated that prices in Spain are currently favourable for investors, as the country has been hit by the eurozone crisis.
Earlier this month, editor of A Place in the Sun magazine Liz Rowlinson explained Spain is attracting an increasing number of British buyers because house prices have fallen to a more affordable level, while its attractions of sun, beaches and other amenities continue to appeal to holidaymakers.
Liz Rowlinson said the current economic climate has led many investors to focus on more established property markets such as the one in Spain, since they are regarded as safer than emerging markets elsewhere.
Ms Rowlinson said: “Prices have fallen so much that it’s now within people’s budgets, yet still offers all the things that make it our favourite holiday destination – great climate, beaches and amenities, such as golf courses.”
