Are you the lucky recipient of a disgustingly inflated city bonus? Already own a sizeable swathe of Kensington & Chelsea? Already got that country pile conveniently located in Surrey's commuter belt? Where should you invest that seven figure Christmas/Easter present from your benevolent employer?

Well, London's property market has been set to burst for years now. As a hardened city type, you should be better positioned than most to work out when exactly the fall will come. If, like many, you predict this to be sooner rather than later, the prospect of a second home abroad is probably rather appealing right now. Of course, chances are you already own a property in France and quite possibly a ski property in Andorra, so as to make the most of the winter holiday with some diving skiing and even better apres-ski. You will, accordingly, be looking at developing markets for that new home abroad, particularly if you are viewing it solely as an investment property.

If you are approaching the end of your career, you may well be considering buying a run down property in Italy, which makes the perfect project for a workaholic with time on his hands. There has been huge British investment in rural Italian property in recent years, as Londoners have been looking for the perfect escape from the Big Smoke and tremendous property bargains. Of course, the best bargains are to be found on properties in need of development and these also offer the best rewards, both financially and personally. Equivalent properties in Spain tend to be inland, away from the heavily developed Costas so beloved of British pensioners.

For an increasing number of British investors, looking abroad means looking at another continent. The theory goes that there is little point buying a property in Portugal when it is cheaper, more profitable and far more exotic to get a property in Brazil. The market in South America's largest country is booming like never before and offers bargain property in some of the most beautiful locations on the planet. Cities such as Rio and Salvador are currently being flooded with overseas buyers, largely from North America, Germany and the UK. The Pound also goes a lot further in Brazil than in London, with the cost of living in a flat overlooking the Copacabana a fraction of the cost living in one overlooking the Kings Road.

Before investing in a second (or third, or fourth) home it is important to research the area in which you wish to buy. Websites are a good place to start, but should always be supplemented with a visit to the property itself.

 

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