Investors urged to carry out thorough research
Overseas property buyers have been advised to research their chosen market thoroughly before committing to a purchase.
The BuyAssociation website recommended that investors act as if they are purchasing a property in the UK and take the same precautions.
For example, it suggested that people get advice on tax and legal issues, as well as an expert view on the rental market if they plan to let it out.
Paul Collins, property editor at BuyAssociation, commented: "As long as you do all these things there are some fantastic opportunities out there to get into economies that are growing significantly."
He added that the most popular foreign property markets tend to be established holiday destinations such as Spain and France.
However, he said that emerging markets in places such as north Africa are also attracting more and more attention.
According to Exchange Insurance Company, people in the UK and Ireland currently own more than 3.8 million homes in other countries.
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