Sinn Féin MEP, Martina Anderson, has urged her constituents to be cautious when considering buying property abroad.
Martina Anderson said:
“As the holiday season kicks in with many Irish families travelling abroad, it can be very tempting to think about purchasing your own ‘place in the sun’. “
“For the great majority of people who do decide to buy a second home abroad this generally works well without any significant issues or problems. “
“But, I have however, been contacted by some constituents who have encountered some serious problems with property scams. Some are even at risk of having them confiscated or demolished, through no fault of their own.
“I would therefore, strongly advise anyone considering investing abroad to thoroughly research the property firms or individuals they are dealing with and to seek local legal advice and representation before parting with their hard-earned cash. You could potentially be losing your life savings. I urge any constituent considering an investment abroad of this significance to tread very carefully. If it sounds too good to be true it usually is.”