Expat Money Newsletter - February 2019

Welcome to the February Expat Money Newsletter.

This month we are focussing on buying property abroad. The market has recovered in most European countries from the global financial crisis which hit the property markets in 2008 and once Brexit has finally been settled there is likely to be an increase in British buyers. We look at how to buy safely abroad, how to finance a purchase and the outlook for 2019.

We also keep you up to date with the latest issues for expats in managing their money.

The Expat Network Team

expats@expatnetwork.com

How To Buy Property Abroad Safely – Our Top Ten Tips

Many people are attracted to the idea of buying an investment property or second home abroad or to allow them to retire abroad, but how do you ensure you buy the right property safely?

The number of people buying abroad fell after the global financial crisis in 2008 and the continuing uncertainties of Brexit has impacted the market for British buyers. AIPP indicate that there were around 70,000 British buyers active in the foreign property market in 2007 and although there are reports of a recovery in the volume of sales there were estimated to be 20,000 Brits who bought a foreign property in 2017. Once Brexit is finally settled (one way or the other) we are likely to see an increase in interest in buying abroad.

Financing The Purchase Of A Property Abroad

Financing is of course a key thing to consider when you are looking to purchase a property abroad. If you are unable to purchase the property from your own funds you will need to identify options to obtain a mortgage. There are basically three options.

Property Options When Retiring Abroad

A Spanish villa with a pool on the Costa Del Sol, a charming old farmhouse in the Dordogne, an apartment in The Algarve or a country home on the rolling hills of Tuscany. Whatever your vision for your retirement abroad you need to be sure you make an informed decision about where you plan to live.

2019 Spanish Property Market Expectations

Spain has traditionally been the most popular for British property investors buying a home abroad and British buyers have been the largest group of foreign buyers in Spain. As we move in to 2019 what is the outlook for the Spanish property market?

France Property Remains Popular With British Buyers

France has long attracted buyers from Britain as well as expats from around the world. The market remains strong and we set out expectations for 2019.

Portugal Property Market Set For Strong Growth

The prospects for the Portugal property market in 2019 after a strong 2018 look encouraging. This is despite the reduction in investment from British buyers.

Best Savings Rates In Expat Banking

The best current offering for sterling offshore savers (with notice period) is Skipton International’s 1.50%, if you have £10,000 and can give 200 days’ notice of withdrawals.

If you can leave your savings untouched for five years, Conister Bank offer 2.25% annually over this period for a £5,000 minimum.

For dollars, Standard Bank pays 1.65% for $10,000 or more, with 196 days’ notice.

Your Free Guide To Living In Spain

Spain is a country rich in heritage with beautiful scenery, bustling cities, wild coastlines and sunny island outposts. No wonder it is the most popular destination for expats planning to retire abroad as well as for people planning to invest in a second home. Whether you are planning to retire, buy a second home, take up a temporary visa to work, set up a business in Spain, there are many issues to address before you go. Make the transition work better with this free-to-download, full-colour guide. Your Guide To Living In Spain provides you with guidance on the issues you will need to address as you plan your move.

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