16th October 2008
Overseas property investors interested in buying property in the Czech Republic and Bulgaria, among other countries, have been advised to pay a keen interest to exchange rates on foreign currency.

These rates can spell out the difference between making savings or even losses on foreign property purchases, according to Laura Latham in an article for the Independent.

This is because fluctuating currency rates mean that the agreed price when an offer is made can be different at the time the purchase is completed.

"A small change in rates can add – or, if you're lucky, subtract – thousands from the cost of your home, and you plan for any unexpected currency fluctuations," she advised.

Among the boxes budding overseas property investors should tick are getting a knowledgeable broker to sort out the finances, having an independent legal advisor and knowledge of the local language.

According to Cater Allan private bank, over three million people are likely to buy a property overseas within the next two years.

Daily News Brought to You by The SimpliGroup – Experts in the UK Property Investment Market

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