Room for negotiation on foreign property prices 'huge'

There is currently "huge" room for negotiation on the price of foreign property in many markets around the world, an expert has claimed....

There is currently "huge" room for negotiation on the price of foreign property in many markets around the world, an expert has claimed.

According to freelance property journalist Marc Da-Silva, many people are realising that a great deal of opportunity exists as many markets have now bottomed out.

"At the other end of the spectrum, there are other markets that haven't yet bottomed out, such as Spain and Portugal, but there are a lot of vendors that are desperate to sell," he says.

"The room for negotiation now is huge and people are negotiating extremely low property purchase prices."

There are a number of other factors that make it a good time to buy property at the moment for those in the UK, adds Mr Da-Silver.

For example, interest rates have remained low in the UK, meaning people have more money left over after paying their own mortgage to spend on property abroad.

Meanwhile, the sterling has strengthened in recent times while there is also greater economic stability, he says.

- Tuesday 21 December 2010

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