International Real Estate Investments during the COVID-19 pandemic -Part II
Are International Real Estate Investments a wise and realistic choice right now, specifically during the COVID-19 pandemic?
Real Estate investment certainly stems from a widely idiosyncratic set of reasons responsible for its emergence and existence historically and adheres to its own rules and strategic planning tactics when it comes to executing it effectively and successfully. Even more so, investing in property overseas is favoured internationally by an ever-growing number of individuals for a number of reasons, mostly tied to the socioeconomic and geopolitical zeitgeist prevalent at the present time.
In the first part of this article, we discussed the reasons that usually drive people towards investing and the broader horizons offered by overseas investment in the current geopolitical and socioeconomic context. Several traits that seem to generally characterize overseas investors were also presented and the idea of overseas investment at the present time was explored, specifically emphasizing the hindrances put forward by the current COVID-19 pandemic and their potential effect on any such process.
We concluded that in effect, the current state of things can present as an opportunity, rather than a hindrance. It all seems to greatly depend on the position, and approach, of the observer. After all, many fortunes were indeed made during crises of various shapes and forms, always by individuals that were able to see and seize opportunities where others only saw challenges. In this second part, therefore, we will discuss what we feel are the main reasons and advantages for investing overseas right now, how they come into play in the current context, and the points you need to pay attention to for your overseas investment to pay off as much as possible. Effectively, why we feel it is indeed clever to invest overseas at the current time and how it can be done wisely enough for you to enjoy success and maximal profit.
Main Reasons to Invest Overseas – Currently & Over Time.
The gradual and steady increase in overseas investment globally tells a story. It is a story of change, adaptation and opportunity. Escalating prices in local real estate markets, coupled with high local interest rates seem to have provided the initial incentives for local investors to start considering expansion beyond their national borders. The often more relaxed and competitive rates in foreign banks overseas further incentivised and strengthened this initial exploratory shift. The brave first pioneers came back reporting stories of cost and tax benefits abroad, coupled with added investment options and advantageous prospects.
Soon, more and more people began realising that the diversification of their investment portfolio across various currencies, economies, weather events and cultures often reduces, perhaps potentially even minimizes risk for them. At the same time, it increased profitability and ensured more long-term financial stability, especially in the face of local crises. Investors also soon realised another lucrative opportunity presented when investing abroad. It allowed them to be more selective, with the aim of sourcing opportunities in previously untapped markets, thus considerably augmenting profit when they do take off as a result.
Last but certainly not least, the global rise of the concept of gaining citizenship through investment, offered by an ever-increasing number of countries internationally, struck a chord in the current geopolitical zeitgeist. Investors are now presented with an added bonus – and what a bonus! Not only can you now utilise all the advantages of overseas investment presented above to strengthen your financial position, but you can also secure residency/citizenship in a number of countries for yourself and your family, through your investment. In today’s constantly transforming world, more access and flexibility between countries and continents can often prove to be practically as valuable as gold.
Pay attention, do it right.
The key to seizing the opportunities offered and enjoying all the benefits presented by overseas investment currently lies in paying attention to a number of important issues and ensuring all is done following a certain set of guidelines. We have scrutinised the process in great detail and have listed the key factors for a strategic and profitable overseas investment for you here. These are issues you certainly need to be aware of, and to manage effectively when investing overseas for your investment to flourish:
- Ensure you are being diligent enough and thorough in your research before choosing the agency that will represent you and will manage your investment plan and process. Look out for an agency exhibiting an efficient and effective organisation, solid ethics and a high level of experience primarily.
- Secure that you will enjoy effective and fully comprehensive overseas management of your property investment from the agency you choose to collaborate with. This way, you will always feel on top of your investment, safe, and confident all is being well taken care of for you, despite being overseas.
- Secure professional and fully efficacious representation from your agency, in order to minimize uncertainty due to unfamiliarity with the local market. You need to be represented by professionals who are extremely knowledgeable in their niche market, the factors that influence and drive it, as well as in touch with the local culture and new developments. This way you will always feel as confident and safe as you do when investing in your home country.
- Secure a collaboration with an agency that is not just ‘selling’ you an investment product, but rather aims to form a solid and trusting relationship with you over time, and is always one step ahead for you. What you need is someone to look out for your best interests, always.
Does the possibility of making an overseas investment sound increasingly more interesting to you now? Nonetheless, you may be able to see the advantages but still wonder if any of the above is possible right now. After all, current global travel restrictions are still in place, and the coronavirus is still presenting societies globally with a number of practical challenges.
Yes you can! Feasibility of Overseas Real Estate Investment during the COVID-19 pandemic.
If you still wonder how realistic it is to discuss these prospects at the moment, especially in the face of the current COVID-19 pandemic and the restrictions it unavoidably brings, good news is in store for you. The answer is fortunately as simple, as it is straightforward: very realistic, if you partner with the right Real Estate agency. One that has examined all aspects of the equation thoroughly and has developed an appropriately customized remote investment protocol.
Ensuring this, will enable you to move forward with your investment immediately, without the need to be present, even if you are also interested in acquiring residency through a Golden Visa-type property investment for you and your family. Greece provides the most competitive Golden Visa program in the European Union. You and your family can be offered a path towards European Union residency and free Schengen Zone access if you invest a minimum of 250,000€ on one or several properties located anywhere in Greece.
Enjoying full peace of mind that everything is being taken care of successfully for you, even remotely, is of utmost importance. Choosing the Real Estate agency most qualified to represent you, is key. In doing so wisely, all that remains on your end is to start enjoying the returns from your investment, while planning on how to expand your investing overseas further in order to enjoy yet more gains.
MI4 Real Estate Brokerage is a boutique real estate agency providing a full set of services in person or digitally for all international investors.
14 June 2021