Buying overseas

Q. I have noticed Artful Lodger in many UK cities. Do you have any presence elsewhere as I am looking into buying overseas?
Bridget Baker
 
Tut tut! With our wonderful city still on the up your money should really be put into bricks and mortar here! However you might fancy a little flutter in sunnier climates and if so you have several options available to you.

Why not take a look at Dubai or Miami? Or try Bulgaria or Croatia, which is closer to home. Let's take Dubai for example. In 2020 it is predicted that the oil will run dry; so the government have decided to aim for the tourism market. There is a building boom happening right now with many developments to be completed in 2006.

The country is host to many major sporting events and has seen many major players recently move in including Microsoft & Compaq. A theme park rumoured to be eight times the size of Disney is being built with many more new facilities in the pipeline including David Lloyds biggest health and fitness facility.

Dubai has very little crime as someone recently told me "crime is against the law". And if you do commit a crime in the UAE you will have a strong chance of getting your hands chopped off! Property is available from as little as £35,000 for a studio in the 'International City' development with property in the 'Palm Development' area starting at around £250,000. Love them or hate them - many high profile footballers have purchased property in Dubai because of the climate, safety and investment opportunity. We must confess to buying in Dubai ourselves because of the long term potential and the current low prices.

It will probably come as no surprise to know that Artful Lodger will be soon launching a website for Dubai. In the meantime, why not visit some of the investor shows held in Manchester and London or the Homebuyer Show (Excel) as it will provide you with good background knowledge on your next investment. Alternatively, check out the Internet for property reviews.

Our final recommendation would be to research the developer before handing over your deposit. Good Luck!