Why Overseas Investment in Real Estate Makes Sense
The domestic real estate market is slowing overall and declining in some regions, but there are great opportunities for investing in real estate internationally are out there. The New York Times has an interesting article on this today explaining why investing in international real estate is easier and possible more lucrative than ever before.
First, worried about the apparent declining prices at home, they are looking to diversify, John Ferry writes.
Second, the growing number of real estate investment trusts, securities that trade like stocks and are backed by pools of investment property, has made purchasing foreign real estate, albeit indirectly, substantially easier.
There are at least 20 countries that have passed legislation allowing the creation of REIT’s in the last few years, and even more are considering the possibility, Stephen Blank, senior resident fellow at the Urban Land Institute, told Worth.
According to the article, the first French REIT’s appeared in 2003. Last December, Mr. Ferry writes, Britain approved draft legislation that would allow the establishment of a REIT market, so British-listed REIT’s should be available in 2007. German REIT’s are expected to make a debut within the next year.
Third, there are the returns. Since 2001, global REIT’s have outperformed equities “by a factor of five.” via New York Times.
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Comment by Wayne on 6 December 2008:
Overseas investment is a good choice if the local market has shown the sign of slowingdown!
South East Asia’s tropical seafront villas are resilient to the global credit crunch!
Malaysia welcomes the World! and foreigners are allowed to own freehold properties, and mortgage can be obtained easily.