Released on: January 8, 2008, 8:48 am

Press Release Author: Jim watson

Industry: Real Estate

Press Release Summary: The credit crunch, as any economic or financial expert will
point out, is an international phenomenon. Not just because it started in the US
when the subprime market hit the buffers

Press Release Body: The credit crunch, as any economic or financial expert will
point out, is an international phenomenon. Not just because it started in the US
when the subprime market hit the buffers, but because the consequences continue to
reverberate even beyond those countries whose banks had their investments directly
hit, as credit became harder to obtain.

With countries all over the world affected by the lack of credit, one might imagine
that the consequences of this would be major slowdowns in housing and property
everywhere. Quite apart from the fact this ignores the variations between the
relative strengths of different property markets and overall economies, however,
such an assumption would also be incorrect simply because British desires for buying
overseas property appear to remain strong.

This point seems to have been borne out by figures from the National Association of
Estate Agents (NAEA) today. Experts with the organisation and its associated
companies have provided evidence that in recent months overseas investment has grown
rather than being scaled back.

Foreign Currency Direct is a prime example of a company whose experience has gone
against the trends some might have expected. Spokesman Robin Haynes said: \"We\'re
experiencing a good level of interest at the moment. Overall we saw an 8.2 per cent
increase in the number of overseas property transactions in the fourth quarter of
2007 compared with 2006.\"

He mentioned Spain as one place that was still performing well, despite a slowdown
in the speed at which properties were sold following last year\'s negative press.
Emphasising that the British are \"still in love with the idea of a place on the
Costas\", he stated: \"Spain remains the number one destination according to enquiries
through our portal PropertyLine.co.uk. Indeed, we sent more payments to Spain in
2007 than in 2006.\"

Financial services company Baydonhill also predicted good times ahead for several
countries, with spokesperson Vanessa Bird listing France, Portugal and Cyprus among
the locations with good prospects.

Individual countries, of course, will have their peculiar advantages which will
counteract any negative credit crunch impacts. Northern France with the advent of
the faster Eurostar services and Cyprus now it has adopted the euro are two possible
examples of this, while the relentless economic growth of India, credit crunch or
not, may provide a third.

Others include Cape Verde, according to property website Buy Association\'s overseas
property editor Paul Collins, who told 999.com the archipelago was \"a haven for
watersports enthusiasts and beach bums alike\", adding: \"There are now direct flights
from the UK to Cape Verde eliminating the need to go via Portugal.\"

Thus 2008 may yet bring a plethora of exciting and financially rewarding places for
investors to buy. What is for sure is that the desire to buy remains as strong as
before.

In today\'s world Property investment is an excellent investment option especially
investment in UK

Web Site: http://www.assetz.co.uk

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