Global Property trends
The global property market has also been effected by downturn that we have seen in the UK, these stme from a lack of finance, consumer confidence and the poor £ against the Euro etc. Here are a few examples of the markets:
Spain - there has been a massive overbuild of primary and holiday homes and this has led to prices falling rapidly with many builders out of pocket.
Eastern Europe - Prices are still relatively strong due to the low price of land and cheap cost of living.
China - Prices were 15% up in 2007 due to the Olympic games but have fallen back somewhat. Expect London property prices to see a similar rise nearer 2012.
Turkey - The market has slowed down, but is still seen as a strong market.
Northern Ireland- NI was one of the major success stories of 2006 and 2007 and has now seen the sharpest fall outside London dropping by a huge 20% in the last year.
If anyone has experience of buying or building abroad please comment and let us know