01.10.2008 - Turbulence for owners of foreign property
From Independent: Five years ago, it was easy to predict where the hot property markets would be – you simply had to keep an eye on new airline routes. From Eastern Europe to South America, each time a low-cost or charter company announced that it was launching a service to some previously unknown or unaffordable destination, there was a rush to promote property there. Investors were encouraged to sink funds into the Caribbean and Florida or obscure corners of France and Italy on the back of cheap and plentiful air travel. Buy-to-letters were enticed to cash in on bargain flights and the predicted wave of tourism such services would also bring. Even if a location was served by only one flight a day, estate agents often claimed this was a sign the destination was up-and-coming.... Full Article: Source
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