After an initial wobble, the pound closed Monday’s session on a steady footing as Theresa May presented her Brexit ‘Plan B’ to Parliament.
But there are still a range of investment opportunities to be found overseas.
If you’re interested in exploring these opportunities, we’ve curated a short list of some of the foreign property hotspots analysts forecast will yield the greatest returns in 2019.
Manila, The PhilippinesWhy the Philippines may not be the first choice for anyone looking for foreign property investment opportunities, the capital city of Manila should be definitely be on your short-list this year.
A large part of this is down to Manila’s rapid growth, with recent developments within the city resulting in a booming tourism industry and drawing large investments from companies and individuals.
Manila is now set to be one of the world’s fastest growing cities in 2019, with investors set to reap the rewards as the ‘Pearl of the Orient’ attracts even more people to its shores, likely driving house prices ever higher.
Belize City, BelizeBelize City, the former capital and most populous city in the small South American country of Belize, has seen its international profile rise in recent years as a growing number of cruise ships choose to anchor in its harbour.
However, despite the city’s burgeoning tourism industry offering some solid short-term rental yields, Belize City remains relatively untouched by foreign investors.
Thanks to this the cost of entry is fairly low, making the port city an attractive prospect for any investors who may be thinking of dipping their toes into the foreign property market.
Ballarat, AustraliaWhile Australia’s infamous house price growth appears to have slowed recently, with both Sydney’s and Melbourne’s cooling off in 2018, analysts still believe there is opportunity for strong growth in some of the neighbouring cities, with the city of Ballarat receiving particular attention.
Located in in the state of Victoria, roughly 70 miles from Melbourne, analysts forecast that Ballarat’s great transport links to Australia’s second largest city will see Ballarat’s property market show strong growth through 2019.
Be aware that buying a property for short-term rental in Ballarat is likely to offer only limited returns however, with the city’s tourism industry not as developed as in some of the other destinations on this list.
Amsterdam, the NetherlandsWhile upfront investment costs may be notably higher in Amsterdam than some of the other spots on this list, for a major European city, Amsterdam’s property market is a veritable steal.
With growing demand for residential housing and limited stock resulting in a steady rise in prices in recent years, and Amsterdam’s considerable tourism industry also offering lucrative short-term rental opportunities, returns on your investment are almost guaranteed.
However you may need to act fast if you want to take advantage of the opportunities offered in Amsterdam as international investors continue to flock to the city, driving prices ever higher.
Austin, TexasAustin, Texas offers potential investors an ideal location for purchasing a rental property.
Austin features a notable student population, diverse economy and a plethora of high paying jobs which has seen its population swell in recent years.
On top of this Austin’s landlord-friendly housing market and beautiful environment makes the city an attractive proposition for any investor considering going the Airbnb route, with Airbnb hosts enjoying $19bn in revenue through the summer last year.
Maximise the returns on your foreign property investment by securing a competitive exchange rateIf you’re considering investing in a foreign property this year then you’ll also need to weigh up the currency transfer options for both your initial investment and repatriating any returns.
To maximise the returns on your foreign property investment it’s important to secure the most competitive exchange rate possible. A poor exchange rate could leave you thousands worse off on larger transfers.
If you plan to rent then you will also have to take into consideration how you’ll repatriate monthly payments, as you won’t want to be hit by the transfer fees charged by most high-street banks.
But at Currencies Direct we’ve got you covered. With our fee-free transfers, highly competitive exchange rates and range of services simplifying the process and helping you save time and money.
If you want to know more or would like to discuss your transfer options, get in contact with one of our friendly currency experts at +44 20 7847 9400.
Currencies Direct is one of Europe's leading non-bank providers of currency exchange and international payment services. Since we were formed in 1996, we've maintained our focus on providing innovative foreign exchange and international currency transfer services to corporations of all sizes, online sellers and private individuals. We have also expanded our services to provide dynamic and pioneering "business to business" solutions to help companies, tier 2/3 banks and other non-bank financial institutions to process their international payments. Our headquarters are in the City of London (United Kingdom) and we have operations in continental Europe, Africa, Asia, and the United States. Currencies Direct is jointly owned by private equity firms Palamon Capital Partners and Corsair Capital.