Property needs to be researched, says expert

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Property needs to be researched, says expert

Thu 11th Jan 2007

Potential homebuyers have been warned by an investment strategist at property investment firm offplanmillionaire not to purchase a property solely on the basis of liking the look of it.

Carl Dear advised people to undertake research into the housing market to determine whether the property would represent a sound investment in the future.

His comments come after HiFX conducted its Global Property Hotspots report which placed Spain and France in the top spots in terms of emerging markets.

Mr Dear said: "If you are going to buy as a pure investment, you have to sit down, work out the maths and look to see what factors have to happen and what needs to happen for my property to increase in price year in, year out for the length of term that I want to hold that property for."

"Don't just say it's a beautiful place. I can see other people wanting to come here and buy my property in five years time," he added.

As popular as France and Spain are proving in the housing market with Brits, it was also found that markets in Bulgaria, Morocco and Turkey had fallen as of November last year.

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