Small Change

Overseas property investments: The grass isn't always greener

Such investments can come with hidden pitfalls, including building defects, taxes and other fees, and even outright scams

Property sale signs outside a residential building in London. PHOTO: AFP

Like me, Singaporeans may have contemplated buying property abroad at some point in their lives as a form of investment. After all, a wise buy might yield healthy rental income and a sizeable gain if the value appreciates over time. But venturing into foreign waters can come with its dangers.

When Mr Justin Harper bought a two-bedroom unit outside of London in 2014, the last thing he expected was that the £270,000 investment would be deemed a serious fire risk.

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A version of this article appeared in the print edition of The Sunday Times on February 25, 2018, with the headline 'Overseas property investments: The grass isn't always greener'. Subscribe