Consider Buying A Property Abroad For Your Next Move Up The Property Ladder

As a result of the recent economic boom, housing stock in Ireland is in no short supply. However, it is being rapidly snapped up from an unusual quarter as research shows that 40% of first-time buyers in Ireland last year actually hailed from Asia!

Not unlike the UK, new houses in Ireland are small and have been ranked 10th in size among EU member countries. But despite their size and limited floor space, the increased supply of housing has created some market stability, although it is also causing problems higher up the property ladder. As first-time buyers seek to trade up their property in order to gain more space, a dwindling supply of housing at the top end of the market is causing house prices to spiral upwards; so many families are now unable to find larger, higher-quality homes at realistic price levels. In fact, recent research on worldwide urban property markets Dublin as one of many areas deemed to be severely unaffordable.

As a result, fledgling EU member states could soon become prime targets for overseas ownership by Irish nationals. In Bulgaria, for example, housing standards are high and with property prices around 40% lower than other EU countries, there are bargains to be found whether you are looking for a city apartment in Sofia or Varna, or a holiday home on the Black Sea coast.

The cost of living is also much lower, with a study undertaken by the Confederation of Independent Trade Unions revealing that the monthly cost of living for a family of 4 in Bulgaria was just 460. As such, property investment in Bulgaria would seem to be very rosy indeed, with opportunities for some excellent returns on investment, especially when used in conjunction with a series of newly launched, cheap flights to Bulgaria from Dublin.

However, Bulgaria isnt the only country to be attracting property buyers from abroad, with more Irish nationals than ever before buying properties on foreign soil. In fact, over 50000 of these are in Spain where luxury properties continue to attract purchasers at the top end of both the Irish and UK markets. In addition to climate benefits, one of the major factors in the purchasing decision process is the proximity to a prestigious golf course; luxury golf developments being responsible for fuelling foreign ownership property markets in destinations around the world, and creating fierce competition for investment opportunities.

Even celebrities are buying into property developments away from their home countries. Tiger Woods, for example, recently announced plans to develop his first golf course in the United Arab Emirates as part of Dubailand an incredibly ambitious and expensive theme park project. The first of the Dubailand projects is due to open in 2009 and will be twice the size of Floridas Walt Disney world attraction. And with 3 additional phases planned through to 2020, the mega project looks set to rocket property prices to even higher levels than those generated by Dubais already prolific construction developments.

Also, in Dubai, the Three Palm and the world Islands leisure developments are not only high-profile media fodder, but also physically prominent enough to be visible from outer space! Rising out of the sea, both of these land reclamation projects are attracting the worlds rich-and-famous into a maze of luxurious island homes - all complete with multi-million dollar price tags!

If youre looking to take that next step on the property ladder, why not consider buying a property abroad? Whether youre after a holiday apartment in Bulgaria or a villa in Dubai, investing in a foreign property could turn out to be an ideal investment.

Andrew Regan is an online, freelance journalist.

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What's In Your Weather Forecast?

Weather calamities seem to have an eye for Asia this summer although many other parts of the world are far from immune to Mother's growing chaos. In case you do not follow the weather news, here are some of the latest headlines:

Romania on Flood Alert
South Asia monsoon toll passes 2,000.
At least 13 dead in Pakistan rains.
Rivers above alert levels as rain subsides over central Europe.
Storms batter Ohio.
Extreme floods hit 500 million people a year.
Floods, landslides kill 35 in China.
Floods show need for disaster risk reduction: UN.
Hong Kong issues cyclone warning.
Did global warming cause NYC tornado?

There are a lot more headlines dealing with the tornado in Brooklyn, rising death toll in Asia due to flooding, sweltering heat that is still rampant in parts of the U.S., deaths from flooding and starvation in Vietnam, deaths from storms in the Philippines, a mini-tsunami in Algeria and an announcement by the UN that many parts of the world have confronted record breaking heat waves, floods, storms and cold snaps including snowfall in Africa.

What is evident from many of these stories is that governments are not ready to deal with repeated natural disasters. In 2005 an agreement, the International Strategy for Disaster Reduction, was signed by 168 countries in Kobe, Japan. Between 2001 and 2005 84% of deaths due to natural disasters were caused by flooding. It is clear that, like many well meaning agreements, that many governments have not taken their commitments to heart. Given that more and increased flooding is inevitable, what will governments do to prevent further loss of life and property? When will governments get their heads out of the sand and realize that climate change is a much bigger threat than terrorism? The ISDR says that modest investments in early warning systems, evacuation plans, public education and better building standards can greatly reduce the loss of life and property. Unfortunately, many nations are too poor for even these modest efforts and if disaster strikes, limited funds must go to relief. The richer nations have tended to take an It wont happen here attitude and the effects of that line of thing have been clear in the U.S., england and central Europe.

One must keep in mind that much of this flooding is due to heavy and long rains and does not include what may happen in terms of hurricanes and monsoons. Add to these equation problems from heat waves, earthquakes, droughts, freak snows and tornadoes hitting the downtown areas of cities and it is evident that we could be facing some real problems. All of these natural disasters are costing billions of dollars in property loss, disrupting economies, creating social chaos and costing lives. How deep are the pockets of relief agencies and charitable organizations?

We are standing in the middle of the environmental highway and Mother Nature is driving right at us. There is a lot of talk and very little action. Policy makers are still acting like we have scores of years to begin to solve these problems. Perhaps it is so out of hand that governments fear telling people how bad things may get. Panic is not a pretty sight. It has been said that disasters can bring out the best in people but events in Pakistan and India have put that notion to a severe test; the grade is not encouraging.

It is a little easier to offer assistance when only a relatively small or remote population is affected by disaster. When disaster is widespread, however, disaster brings out the worst and not the best of human nature. As the American economy begins to falter under the pressures home foreclosures and increasing debt, will the U.S. be so generous to foreign lands drowning under monsoons and other environmental disasters? When we face another Katrina, how much will be left for others particularly when we do know how to effectively and efficiently deal with such issues? As it is said in the 11th Hour, the clock is ticking. What is in your weather forecast?

Mr. Harris was born in Massachusetts. He attended The American University in Washington, D.C. and received his degree in Political Science. His graduate work was done at the University of Northern Colorado and Howard University. While in D.C., he spent several years working for local and regional government agencies. Upon moving to Maine he worked with three governors and served as the Assistant Director of the Maine State Planning Office. He worked on a White House Task Force for the development of a National Rural Policy and later served as Rural Policy Coordinator at the Federal Regional Council of New england. He has worked on gubernatorial and senatorial political campaigns and currently works in Special Education.

Mr. Harris is co-author of the novel WAKING GOD and is a nationally syndicated and featured writer for The American Chronicle. He is working on Book II of the Waking God trilogy and writing features for literary E-zines. His second novel, A MAINE CHRISTMAS CAROL has been released by Cambridge Books. Contributing writer for UPI's Religion&Spirituality web site.

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