Overseas Property Market Commentary January 2009

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The main issue for UK owners of property abroad now is how to sell their home abroad. Many that bought at 'international prices' can only sell to cash rich investors or worst still aren't even getting any viewings. Properties need to be marketed where possible to locals at great prices if the vendor really wants to sell.

The good news of course is that as the £1 has fallen against many countries currencies, so you can afford to sell the property at a discount and may even be lucky enough to maintain the price you paid, or even make a small profit.

Ideally if you can, look to hold onto your property. Consider renting out to locals on-going if that helps or offer great value holidays which help you cover your costs to friends and family - but check out the tax implications.

If you are still struggling, do you know someone that might want to buy a share of the home? 25% or 50% could make a big difference to you and solve any issues you have back at home. It's important to seek good, practical legal advice on this, but if it helps you maintain your holiday home/investment it may well be worth the effort! 

For more market commentary on a national or local level:-
Contact Kate Faulkner on 07974 750562 or 0845 838 1763. To read more about Kate, please visit ABOUT US, see Kate on video and for media appearances, contact:

Sylvia Tidy-Harris
STH Management                    
Tel  +44 (0) 1530 263221
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Fax: +44 (0) 1530 264018
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