About Classic Worldwide

Classic market 1000’s of new developments at any one time, from the USA and Caribbean to Europe, the Middle East, South Africa, Asia and beyond. As an established market leader, we have exclusive access to many of these developments before they are released for sale. We are also members of a number of multiple listing systems, meaning we can access thousands of resale properties on behalf of our clients.

We have access to various independant financial advisors who can arrange UK sterling mortgages and remortgages or overseas dollar and euro mortgages to facilitate your property purchase. We can also offer advice on the proposed changes to the rules on pensions due in April 2006 which allows the purchase of overseas property through a SIPPs. (Self invested personal pension).

All our enquiries are dealt with from our offices in the UK and Florida where our experienced staff are at your disposal to offer you advice and answer any questions you might have on the subject of overseas property investment.

Information regarding overseas property investment

In today’s unstable economic environment, investing in overseas property is a sensible idea. Risk is minimal provided you take expert advice and returns can be significant.

We are here to point you in the right direction, answer any questions you may have and assist you in carefully choosing an investment property from selected projects. We believe we can achieve returns on your investment which you cannot achieve elsewhere.

When buying ’off-plan’ as opposed to buying a re-sale property, you get the opportunity to reserve your property at around 30% below market value. The reason properties are offered initially at such a low price is to attract individuals who are in no hurry to take occupation but realise the significant savings of early purchasing. These early purchasers provide confidence in the project and financial security for the bank or the developer who provides the financing for the project. Construction starts with or without these early sales but of course quick sales at this stage enable the developer to make an increase in prices when constructions begins. Prices generally go up in 10% increments during construction. Firstly when foundations are laid, secondly when brick work begins and finally during the later finishing stages.

Example:

• 2 bed unit priced at £150,000.
• Amount paid during 18 months construction - 30%.
• Property value increase during 18 months construction period - 30%
• This increase amounts to 100% of the original investment but costs such as legal fees, must be taken into account and the property will need to be sold at slightly below market value to encourage a quicker and easier resale.
  Therefore a profit margin of 80% on original investment is suggested.

The figures above are examples of returns that can be achieved by investors who get in first at the very early stages of selected developments.

These figures are not accurate for Florida where demand outstrips supply and property values may increase by 100% in less than 6 months.

What is the average required investment in these properties?

With the current opportunities that Classic have vetted and selected, you will need to have access to £40,000-£100,000 depending on the price of the unit you are reserving.
This will include legal and processing fees, stamp duty, title and land registry searches, the VAT and legal fees.