Buy-to-let investors hold on to properties ‘for their pensions’
Many investors with buy-to-let properties are choosing to hold onto their investments "for their pension", says one industry expert.
The editor of independent property advisory website Property Hawk made the claims adding that most property-owners see their investments as "long-term ones".
His claims back up those of investment specialists Scottish Widows, which claimed at the end of last year that returns from foreign property investments are now being used by many Brits to fund their retirements.
Chris Horne, editor of Property Hawk, said: "Property is one of those things where there are always opportunities. The standard adage is that landlords make their profits when they buy, not when they sell."
He added: "Potentially you can make money even in a stagnant or slightly falling market, and I suspect a lot of landlords still see those opportunities."
According to a survey by the Association of Residential Letting Agents, nine out of ten landlords have no intention of selling in 2008 despite market uncertainty, while four in ten plan on buying more property.
Earlier this year BuyAssociation, a property website that offers impartial overseas property advice, reported that Brazil will offer "many interesting property investments" in 2008.
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