Investors look to emerging markets
The property price issues in the UK have caused an increasing number of investors to consider the emerging markets overseas, such as Brazil.
HiFX, a financial service which offers personal and corporate foreign exchange assistance in the UK, Europe, North America and Australasia, has said that demand for foreign exchange services has increased in the past year as UK investors are buying an increasing amount of property abroad.
Mark Bodega, marketing director for HiFX, said: "What we are also seeing is a rise in the number of overseas property investors; obviously with the property price issues in the UK, more and more investors are now looking overseas to the emerging markets and hotspots.
"We always recommend to clients that, when they’re buying overseas, they do their research and due diligences before departing with any money. And we always [recommend] that if people are investing, they seek independent advice; don’t use the solicitor or legal people that are recommended to you by the developer."
This year expert researchers for the UK-based Property Investor Homebuyer Show tipped Brazil as an emerging country poised on the verge of a property boom.
Property prices in the emerging market are said to have increased by 20 per cent over the last five years, with some areas of the north-east of the country exceeding this rate of growth.
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