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A search for the elusive property ‘hotspot’ reveals no secrets

A post on the totallyproperty.com overseas forum kicked things off and unsurprisingly there has been a wide range of ideas and responses including Iraq – because the hottest places are the riskiest.

Some parts of Turkey are reckoned to be still worth a look. Reading through the posts the 'riskometre' looks a bit like this: Risky – Argentina/Albania; Medium safe – Morocco/Mexico; Safe – Italy, Portugal, parts of US; Really Safe – France/Spain.

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Also mentioned are Brazil and Egypt. But no one gives locations and there is some discussion around whether or not it's good to buy overseas property on a 100 year lease which is what happens in many countries where foreigners can't own land.

Australia gets a mention. As one poster points out it has a growing tourist industry and large ex-pat community and is English speaking!

The same forum website reveals bargains in Spain. Poster Damian George points out the following: 'Keep an eye on Spain. Over 40,000 estate agents have already shut their
doors, according to the realtor's federation. There are 600,000 unsold homes on the market. Unemployment is rising at a rate of 90,000 a month (seasonally adjusted). UBS says country has built up cross-border liabilities of $362bn, much of it owed to German and French banks, and is facing a foreign "funding freeze".'

A property agent on the Costa del Sol reveals that vendors are accepting very low offers. But would be buyers are advised on a post on the eyeonspain.com forum that relying on rental income is not a good bet as the market is saturated. The conclusion is to see rental income as a bonus and not rely on it for income or to pay a mortgage.

This year Calabria in Italy has been tipped by many 'experts' in the news as an up and coming place to invest. However posts on the Channel 4 overseas property website suggests that buying in this part of the world is a laid back as the Italians.

There are concerns about lack of rental season and infrastructure. Although the marketing people are confident that there is going to be a flood of tourists, it would seem potential investors are not as confident.

There are also reports of hard tactics being used by developers and their agents and worries about planning permission. But all this is nothing new for Italy where the word 'tomorrow' has no real meaning in time.

And some investors take the view that the slower pace of life (and bureaucracy) is part of the charm of this part of Italy – they actually want a backwater as opposed to a bustling, efficient resort where everything is neatly in place.

In the UK the subject of HIPS, the controversial home information packs, is still causing a lot of comment. Various threads on the landlordzone.co.uk website covers a variety of issues including whether new houses require them – yes they do.

Poster Colincbayley seems to sum up the general opinion with his thread; 'HIPs, what a load of junk'. The way the energy ratings are arrived appears a mystery to many.

Changes, particularly for landlords, are also causing a lot of comment. From 1st October 2008, if you are renting out property you will need to provide an Energy Performance Certificate (EPC ) to any prospective tenant. However, there is no need to obtain a certificate for existing tenants. The certificate is valid for 10 years but can be renewed earlier if the landlord wishes to reflect any improvements made. If a valid certificate exists when changing tenants no new certificate is required.

Information is updated regularly by members. Among the latest is that reports will be needed in Scotland from December 2008.

For those who are still confused the forum has several user friendly guides posted by members.

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