Aaron Gillies, Director of overseas estate agency Goldcrest, believes the property boom over the past number of years means it is a lot harder for first time buyers to get their foot on the property ladder in Northern Ireland but he has an inventive suggestion on how to make that all-important first move.

“The property boom in Northern Ireland may be cooling down at the moment, but prices are still out of reach for a lot of first time buyers. An interesting solution is presented by a growing trend among twenty-something’s buying abroad for a fraction of the price and living in a rented property at home to get their foot on the property ladder,” says Aaron. “These properties are then rented out to cover the cost of the foreign mortgage. The increase in value of the property over time will then cover the deposit of a property in Northern Ireland when the time comes to sell. This group of buyers have become known as BARBie’s – people who Buy Abroad and Rent in Britain.”

“There are a lot of properties abroad being snapped up that represent a bargain compared to the same type of property at home. We currently have 2 bedroom properties in Murcia, Spain for example starting from £95,000 and 1 bedroom properties in Datca, turkey starting from £39,500,” Aaron concluded.

For any BARBie’s interested in taking that step to owning their first property in a hotter climate,
contact Goldcrest.