Private villas abroad prove hot investment

As privately owned, self-catering properties prove increasingly popular with Brits holidaying abroad, those investing in property overseas are set for a prosperous 2007 says SmartNewHomes.com.

With leading industry analyst Mintel predicting self-catering properties to represent over 62% of overseas holidays in 2007, and an increase in travellers turning to the web to tailor-make their holiday, buying a property abroad now could prove a clever investment.

As a result of escalating UK house prices, many potential buyers are now looking to invest abroad, to either add to their existing property portfolio or, in some cases to take their first step on to the housing ladder. SmartNewHomes.com has already seen an increase to its overseas property section in January with visitor numbers up dramatically compared with the same time last year. With the holiday rental market abroad thriving, an increasing number of Brits are looking to capitalise on the many investment opportunities available.

David Bexon, Managing Director of SmartNewHomes.com said: “For those who want to choose from a greater variety of properties and who want privacy and their own space, privately owned villas are proving increasingly popular, and rentals can be very competitively priced.

“As more people look to build each element of their holiday online, using an array of sites to compare prices and the range of accommodation available, there has been a noted shift away from package holidays – and this is good news for those looking to invest in property abroad.

“On our site, you can currently find a new, three bedroom villa in Cyprus for £130,000 – a fraction of what you’d pay if you were to buy a similar sized property in the UK. By buying new, potential investors remove the need for any structural or even superficial work after purchase, which could take time and add additional costs, enabling them to see a return on their investment through holiday rentals almost straight away.”