UK housing boom an 'unmitigated disaster'
Brought to you by Emerging Earth, at the forefront of International property investment.
Firstrung has said that the housing boom in the UK has been an "unmitigated disaster" for the country, leaving many people unable to get onto the property ladder.
Paul Holmes, chief executive officer of the company, said that with rising food and petrol costs, the increase in property prices over the past few years has meant that many young professionals trying to buy their first home have been unable to do so.
One alternative that some people have considered is investing in overseas property and using the revenue from selling it after a few years to buy a house in the UK.
According to GEM Estates, the Venezuelan island of Margarita is "one-to-watch".
The Caribbean island has been highlighted as a good option for young investors because property there has low-entry levels, allowing people to buy for a lower price than in the UK with the confidence that they will see high rental returns.
"As property has always been promoted as a good area to invest in, it is unsurprising that those areas where property can be acquired for less are proving popular.
"In areas such as Margarita, fantastic properties can be purchased for a fraction of the amount that it would cost in the United Kingdom, with the added advantage of a tropical location," Matt Legg, Emerging Earth.
Related News Article