Buying property abroad is not like buying stocks and shares where you can sit back and watch your investments perform without any effort from you. With stocks and shares you can wake up in the morning and find the value of your shares have disappeared overnight. You have a lot more control over a property investment, as properties tend to be more stable and they are bricks and mortar. It is important, therefore, to have a balanced portfolio of investments.

Many people are looking to invest their money in property abroad because they can buy more property for their money and rent the property out when not using it themselves.

You can purchase a property abroad for as little as €70,000. A price like this is impossible in Ireland.

When thinking of purchasing abroad you have to consider if the property is a pure investment or for both investment and your own use. If it is purely for investment you should consider a location where you have the option to do a long or short let. Long lets require you to have a lawyer draw up a lease and you need to be careful about doing a lease above six months because in Spain tenants gain rights more easily. Short lets are much different, so if you buy an investment property in Spain consider buying in or near a town, or near the beach where you have a better chance of renting regularly.

Spain remains a good location to purchase because the climate is very suited to Northern Europeans and the infrastructures and health system is good.

According to many one would have been very wise to have bought a holiday home or retirement residence in Spain two years ago. Varying from area you would have seen a 30% rise in the value of the property. The upward trend in prices continues and it is a very good time to make that purchase. Don't wait until you retire because in the meantime you are missing out on all that lovely sunshine and in all honesty do you think you could afford a home abroad in 10 years time?

A Spanish home costing €100,000 now could cost around €300,000 in 10 years with a 15% increase for the first two years and a 10% increase thereafter. So don't wait around buy now!!!!