Overseas property investor turns east as report highlights hotspots

AN Irish overseas property and investment company has released its first International Hotspots Index, which analyses the current top-ten overseas residential hotspots.

Prestige Group, which has been active in overseas markets for a number of years, puts Warsaw, the Polish capital, as its top investment target for buyers.

It was just ahead of Florida, which continues to perform well.

The research shows, that five of the top ten hotspots are emerging markets.

Three are in former Eastern Bloc countries, highlighting the trend for property investors to move away from the Mediterranean towards less traditional investment countries, according to the group.

The Algarve’s central and eastern areas have been successful investment areas for a number of years, but recently the western Algarve has emerged as a prime location.

Cape Town and Dubai also feature, but certain issues remain with both destinations.

Gerard Murphy, managing director, Prestige Group, said too often investors focus on the price of property and potential price increases, while factors such as the ease of finance and the legal issues are overlooked.

“Overseas residential markets provide a great opportunity for some major returns but, as with any investment, people have to see past the hype and do their research.

“The idea of the index is to provide some guidance to potential investors.”

According to the company it provides “an incisive guide for investors who are thinking of buying foreign property”.

It features all the factors that need to be considered before investing abroad, including: prices, rental yields, the local legal system, social and economic stability and the cost of finance.

It has been published by the Prestige Group which undertakes this analysis to guide its own business.

Given the level of interest in overseas property among Irish investors, the group decided to make it publicly available for the first time.

Prestige Group is a global property investment and development organisation dedicated to creating wealth for its investors through the provision of off-market residential property and investments packages in Britain, South Africa, Europe, Australasia and the USA.

Since 1993, it has invested approximately €2.75 billion for private clients.