More and more of us are snapping up properties abroad. And it's hardly surprising given
current property prices in Gwent. Here we look at the best way to find your bargain in the sun
THE COMBINATION of Gwent's booming property market and the rise of the budget airlines have made it increasingly popular for people to buy a home in the sun.
Property prices in Gwent have almost doubled over the past few years with average property prices now well over the £100,000 mark.
And for that sum, most homeowners in Gwent would be able to purchase a quality home in the sun.
The number of people buying property abroad rose by 25 percent last year with a growing number of South Wales residents moving into the property abroad market.
And in up-and-coming places like the Envia golf development at Costa Almeria in Southern Spain, which will host the Mediterranean games next year, properties can be picked up for much less than your typical home in the UK. (see spq.uk.com for details).
Other typical properties abroad include a four bedroom house in Trulli, in Italy which would cost about £95,000.
Costs are variable and location is everything.
A one bedroom apartment in the popular Las Americas in Tenerife would set a buyer back approximately £93,000 while a two or three bedroom apartment can be bought for half the price in parts of the Costa del Sol and in up-and-coming destinations such as Bulgaria, beachside apartments can be purchased for as little as £30,000.
The Internet is fast becoming the destination for people to find out more about buying holiday homes with scores of sites now offering UK people the chance to buy a home in the sun.
The website www.propertysabroad.com offers a list of tips for investors.
It includes basic advice such as not signing a contract you do not understand (ie, it is in a foreign language) and checking there are no outstanding debts on the property.
Other tips include deciding before you buy whether you are looking for a permanent home abroad or a second home that you can let out.
Remember that while swimming pools in the sunshine sound idyllic remember that they have to be maintained throughout the year.
The Federation of Overseas Property Developers, Agents and Consultants has a list of regulated operators.
And one last tip, if you are looking to get away from the British culture, it is worth noting that on Portugal's Algarve, one in five residents are now ex-pats.
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