No crisis for the wealthy Article Published: 10:01 22/07/2008 Article Classification: Cape Verde
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Amongst the sea of ink concerning the credit crunch and global property crisis, it seems there are some messages of common sense.

A recent article in the International Herald Tribune claims that, for the well off, there is no global property crisis. Whilst most reports are claiming panic and plummeting values, a survey conducted by Sotheby’s International and the Architectural Digest magazine suggests otherwise. The survey found that a massive 79% felt their home would retain or increase its value, whilst 50% believe that the media exaggerate market conditions. When you consider its sponsors, you may expect this survey to come up with such a result - however, the theory is backed up by another survey, this time conducted by American Express Publishing. This one supports the opinion that wealthy people consider this a good time to buy a second home and that in the current market there are real opportunities for growth and profit.

It is worth outlining here some points made on overseas and investment property.

Clients should appreciate now, more than ever, the importance of using an independent professional company such as Olive Tree International to help source the best possible product at the best possible price. They should remember that well researched investments will always perform well, regardless of market or currency fluctuations. Euro countries currently have extremely competitive buyers markets and there are consequently huge discounts to be found. Also, rental income from these properties will be paid in Euros, offsetting mortgage concerns. Whilst everyone understands that property investment is facing challenges in the UK, this does however mean there are unusually high opportunities available.