Where to bag a bargain home
New research outlines the best areas across the globe for UK property investors to buy a property at a heavily discounted price.
A report that shows below market value lists eight of the most distressed property markets around the world. Ireland tops the list closely followed by the USA real estate market. Other countries where house prices have taken a huge hit include Greece, Cyprus, Portugal and Spain.
Property investors are advised to thoroughly research local markets before taking the plunge no matter how attractive the house price appears to be. Irish property prices have dropped by nearly half in the last three years but on-going economic hurdles suggest the market has yet to bottom out.
On the other hand buying a property in Spain where homes can be found priced at 60 per cent below market value and with lenders prepared to offer 100 per cent finance suggests confidence in the future upward direction of house prices.