Sunday, September 6, 2009

Overseas property agents should intensify marketing efforts

Overseas property agents should be accelerating their marketing efforts as the worst phase of the crisis has passed but they have still to make a great collective effort to ensure that the recovery begins as soon as possible, it has been stated.

Liam Bailey, an overseas property expert and director of Write about Property has said that the end of the downturn has been reached, but instead of breathing a sigh of relief and hoping that things will improve on their own, businesses need to take the bull by the horns. Bailey also pointed out the changes that the credit crunch has made to overseas property sales; that more people are shying away from the risk of emerging markets and favoring established markets.

He commented: "The winter months are a great time for overseas property sales, as people look for an escape from the brutal British winter. So now is the time to really step up your marketing campaigns. Potential buyers are no longer taking agents' word for investment potential they are also doing their own research, which I think is a good thing."

According to Paul Bradley, spokesperson for the Spanish property Owners Guild, cash ready investors could find that this is the right time to look at making an investment in Spain. the recent slump in house prices means that many bargains are available to prospective buyers. He pointed out that there are lots of distressed properties around that can be bought at a 30 per cent discount on current values.

However, he added that buyers expecting to benefit from capital growth should consider Spain as a long-term investment market.