There are many bargains to be had for those willing to invest in property overseas, according to an industry expert.
As the global recession hits property markets in many countries, house prices are falling significantly meaning that those willing to invest could bag themselves good deals.
According to research from Currency Index, the average two-bedroom apartment in the Costas in Spain has dropped more than 30 per cent in the past year.
Mark O'Sullivan, director of trading at the company, said such falls make the overseas property sector a buyer's market.
He said: "There is no doubt that if you have got cash at the moment then in the overseas property market there are so many bargains to be had.
"You can literally drive whatever bargain you like and you will find a distressed seller somewhere."
Research from Currency Index also showed properties in Bulgaria, Portugal and the US had fallen by 19.7, 16.3 and 7.8 per cent respectively over the past 12 months, making these areas great places to buy property.
See Also: Property News (6680)
Date Published: 11 June 2009
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