Matthew Wellare has worked in overseas property for more than 6 years. For the last year, he’s run UK-based agency FindaPlaceOverseas which has an extensive database of UK-based investors, IFA’s and Hedge Fund Managers.     

To help our readers come up with ideas for future projects, we offered Matt £25k, £100k and £1 million of hypothetical Globaledge money to invest anywhere in the world.  

Ashley Rigg:  Hi Matt, thanks for taking the time to talk to me today. How’s business?

Matt Wellfare: Not bad. December is always quite quiet.  I use this time of year to source new projects and collaborative partnerships.  This year is a little bit different as my wife is currently in labour expecting our second child very shortly.

AR:  So let me get this straight.  You’re wife is about to go into labour but you’re spending a bit of quality time with Globaledge?

MW:  It’s the early stages.  I’m at the hospital on the mobile.  I may have to cut this short!

AR:  I think that’s allowed given the circumstances.  A great effort!  Let’s start off with a fictional £25k. Where would you invest it to maximize my return?

MW: With that kind of money and in this environment I’m not going to take that many risks.  I’m going to go for a fractional ownership scheme in Spain on the Costa Almeria.  It’s FSA regulated in the UK and underwritten by Lloyds of London.  For £1950 you get a one bed beach front unit on a top quality development with a shared pool and use of all the facilities.  There’s a guaranteed re-purchase after 10 years so it’s a very safe investment.  

AR:  Do you think Spain is a good bet?

MW:  In the long term certainly although I prefer the emerging markets and generally wary about Spain and the real investment deals you can get unless you really do you due diligence.  There will always be demand for property in Spain from Northern Europeans and other destinations such as Florida once this worldwide crisis subsides.  It has the climate, convenience and infrastructure. It’s undergoing a well-needed correction at the moment but in the long term it will be fine.

AR:  What would you do with the other £23k?

MW:  Can I buy 12 of the above investments to keep it simple?  

AR:  No worries.  I can feel you’re under a bit of time pressure!   Let’s take it up to £100k.  How would you invest the money?

MW:  I’m going to go for Margarita Island, off the coast of Venezuela. It’s absolutely stunning.  It has a mix of culture and colonial architecture and modern facilities and developments. There are also strict planning laws which mean there is limited supply particularly for prime beach-front real estate. Hotel space is also over-subscribed, so the rental potential is excellent.  There are also significant tax benefits.

AR:  What can you get for your money?


MW:   For £100k you could get a two bed apartment with a beach or mountain view on a development with access to a pool and spa facilities.  

AR:  Are there direct flights?

MW:  Not currently from the UK. You need to change but there are plenty of direct flights from the US. It’s popular with sophisticated and affluent Americans.

AR:  Anywhere else you’d buy with the money

MW:  Lots of places.  The choice is so vast.  It’s difficult to get something reasonable in the Caribbean for that price, well certainly on Barbados, St Lucia or the Bahamas.  There are also a lot of other fractional ownerships schemes and real estate funds which make sense at this level and in the current economic climate.  

AR:  Fair enough.  Let’s make it interesting and raise the stakes to £1 million.  How would spend the money?

MW:  With that kind of money, I’d put a significant amount into commercial property in Asia. I think commercial is generally a more secure investment than residential and more and more businesses are re-locating to Asia. In the long term the big economic success stories will be around China and its trading partners.  

AR:  Where would you invest specifically?

MW:  I’m not keen on Thailand but Malaysia would be high on the list if I could find the right opportunity. Also the UAE, I know Dubai is not flavor of the month but it really is the gateway to Asia and demand for office space should be robust in the long term.  I’d put £500k into commercial property in Malaysia or the UAE.  It would depend on the opportunity; it would also need a lot of research.

AR:   What about the rest of the money?

MW:  I’d split it between the Caribbean and Cape Verde.  Cape Verde is like a closer and cheaper version of the Caribbean.  Prices have gone up quite a bit recently but in the long term it will be fine.  Planning restrictions are good.  The Portuguese run a tight ship.  

AR:  What could you get for your money there?

MW:  For £250k on Cape Verde you could get a three bed villa with a pool or a nice apartment on a good complex.  Money goes a lot further than on the Caribbean although the current euro rate is hitting this market at the moment like most other markets worldwide.

AR:  Where in the Caribbean would you buy?

MW:  There are a number of islands I’d consider but I’m going to choose St Lucia.  It’s stable, well established and has great facilities.  You can finance at 70% LTV.  Most of the big international banks are there.  In terms of property, you could get a small villa with a beach view for around £300 to £350k.  You’d have to share a pool in some instances but could get a private pool but the stunning views and prestigious location make-up for it.

AR:  There seems to be a bit of an island theme going on with your choices?

MW:  The benefit of buying on an island particularly when you have sea or mountain views is you have scarcity power.  Rental yields tend to be higher and resale is easier but you’ve also got stunning scenery and the waterfront lifestyle.

AR:  Thanks Matthew.  I’m sure you’ve got much more important things to do Industry Millionaire.  Best of the luck with the birth.  

MW:  Pleasure.  Speak to you soon.

About FindaPlaceOverseas

Findaplaceoverseas offer some of the best investments across the globe from residential to commercial along with real estate funds, SIPPS, land and fractional ownership schemes. We pride ourselves in offering the very best and often the most unique property investments worldwide. We offer a professional service and along with our partner agents and developers look to meet the buying criteria of all our clients. Along with our overseas investments we also get involved in developer finance and various services associated with buying overseas property. We also operate a panel of independent financial advisors to assist clients looking to raise finance via existing UK assets. We are continually updating our portfolio of property and investments to meet client needs and market conditions. Please visit us at www.findaplaceoverseas.com or call us on +44 (0)1638 564 305