Buying abroad is still a good deal says Amanda Lamb

By Simon Hayes on May 1, 2008 9:00 AM |

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“NOW is a really good time to buy abroad. There are so many bargains to be had because of the credit crunch.”

That’s the opinion of Amanda Lamb, property expert and presenter of Channel 4’s A Place In The Sun. She thinks recent economic woes haven’t really affected people’s appetite for investing overseas.

She said: “I was expecting it to but, to be honest, I haven’t noticed [a change]. But what we will get now are more serious buyers, the ones who can genuinely afford it.

“And people are investing for different reasons. Before it was about making as much money as possible but now it’s about quality of life and enjoying a holiday home.”

Amanda was at ExCeL London over the weekend, taking part in the A Place In The Sun Live exhibition. And she thinks 2008 will see people looking for new places to buy.

“There are still hotspots out there,” she said. “The emerging markets are Egypt and some eastern European countries. Poland is a very interesting prospect at the moment. Warsaw is going to double in size in the next 10 years and, if they join the Euro in 2010, you’ll see a big increase there.

“The Alentejo region of Portugal is also quite undiscovered, but won’t be for much longer. The good thing is it’s a big region and, hopefully, there’s enough for everybody there.”

But with the Euro strong against the pound Amanda thinks the bargains are to be found further afield, with America particularly attractive.

The pretty presenter also had some words of wisdom for those still looking to buy abroad.

She said: “The biggest thing is research. You can’t have enough information. Come to the exhibitions, read the magazines and watch the programmes.

“Take your time. Web forums are really good because you can find out if there’s an unscrupulous developer or learn from other people’s mistakes.

“Have an idea of what you want and then work out how much it is. For example, if you want to buy a farmhouse in Tuscany and know it’s roughly going to cost £400,000 then you know when you get out there you’re not going to get ripped off.

“Once you decide to buy, get a lawyer. The horror stories I hear are all about people who don’t get independent legal advice. Sixty per cent of people who buy abroad don’t use a lawyer – that’s unbelievable.”

And despite the credit crunch Amanda thinks Brits are still obsessed with home ownership.

She said: “There’s something about our desire to own property you don’t get with our European counterparts. The French aren’t that bothered about buying, they are happy to rent but, for us, it’s very much an Englishman’s home is his castle. I think we will continue to keep buying, no matter what.”

simon.hayes@wharf.co.uk