Investors look to be first

A growing trend among overseas investors seems to be the desire to be the first one to invest in a new area, according to the latest reports.

More and more foreign property purchases are occurring in non-traditional areas such as Egypt, South Africa and Cape Verde as people look to capitalise on cheaper property prices.

“It’s becoming a feeding frenzy to be the first one in [to a new location],” Simon Conn, managing director of Conti Financial Services, told the Belfast Telegraph.

While France and Spain remain popular with overseas property investors from the UK, many are looking further afield, to Eastern Europe, Africa and beyond. And the people in the market are also changing.

“Many are first-time buyers who have been priced out of the UK market and want to get on the ladder elsewhere [while continuing to rent here]. Some haven’t even seen the property they are buying,” said Suzanne Sullivan from Currencies Direct.

However, property purchases in these countries sometimes carry a certain degree of risk, the newspaper reports, with large deposits and, in some countries, no mortgages.

Those interested in investing in overseas property can find further information at

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