First-time buyers do better abroad

According to data from Nationwide the average first time buyer in the UK is handling over 49 percent of their post-tax salary on repaying their mortgages – the highest level since 1990. And despite falling house prices, those wishing to get onto the housing ladder are being hit by rising mortgage interest rates and demand for hefty deposits.

Now a growing a number of UK first-time buyers are looking overseas in an attempt to sidestep Britain’s challenging property market. Around half of first-time buyers say they would buy abroad in order to get on the property ladder, while the number of new buyers prepared to think globally about property has doubled in just 10 months.

The head of international research for overseas property specialists David Stanley Redfern said:
“Countries at their peak are seeing property values appreciating by anywhere up to 30 percent. On top of that, investors can often start earning a weekly or monthly income from the rental of their overseas property almost immediately, money which can be put back into a deposit for a UK property.”

First-time buyers are indeed doing just that. Far more adventurous than their holiday home-buying predecessors, would-be investment owners are turning to emerging markets such as Eastern Europe and the Far East in the hope that their rental income and capital gain will increase their purchasing power back home.

For instance David Stanley Redfern are marketing the Dajti Views Development in Albania, in which you can get a 1 bedroom apartment for £26,000. It is impossible to get on the UK property ladder with that amount of money. But in 5-10 years Albanian property could well be worth anywhere from twice to four times as much – a far greater return than is possible in the U.K.
With Britain’s unpredictable weather, and Britain’s unpredictable market, perhaps it is time to join the masses of first-time buyers heading to the sun.

Find out more about Albanian property and buying property in Albania.

About DSR Asset Management Ltd

DSR is an overseas property investment specialist, working directly with developers in more than forty countries. All properties are exclusive to DSR , giving an unparalleled selection of resale and new builds.

Please direct all media queries, requests for press information and editorial details, to media@davidstanleyredfern.com

David Redfern is the director of DSR Asset Management Ltd an overseas property investment specialist. David works closely with developers in more than forty countries and oversees the DSR education programme which lectures individuals and organisations on property investment. Advertise Your Private Overseas Property

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