'A lot of profit to be made' in overseas property, says expert
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People considering buying a holiday home overseas will be encouraged by recent comments from an expert that there is "a lot of profit to be made".
Tony Broadley, joint managing partner at Rowlands Solicitors LLP in Manchester, told Crain's Manchester Business that property investors stand to make good profits provided they chose a good location and "get it right".
Mr Broadley offered investors advice when buying property in a foreign country, suggesting that they consider issues such as whether they will be using it for their own holidays or renting it out to tourists.
The Venezuelan island of Margarita was recently singled out by Nubricks.com as an appealing destination for property investors due to its cheaper prices compared to other islands in the Caribbean.
"With its climate, duty free status and fantastic tourism opportunities, the Margarita Islands will grow in stature in international tourism", Michael Johns, chief executive officer of The Right Move Abroad told the website.
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