Industry leaders have long called for the regulation of the overseas market and I agree emphatically on this issue.

Unlike commercial property investors, who generally have a strong investment knowledge, the majority of overseas buyers are ordinary people with relatively modest funds, hoping to secure a good return and real capital growth by investing in attractive schemes in up-and-coming tourist destinations.

I believe regulation would help protect people from making unwise investments with unscrupulous operators.

I also believe that those marking overseas developments should be required to show that due diligence has been conducted on the property developer, construction company and market. There should also be regulations covering information that must be given to a buyer entering an agreement. For example, a clear statement on all costs related to their investment - acquisitions, ongoing maintenance costs and exit costs - as well as an obligation to support any statements on yields, capital appreciation and so on, with independent data showing how the market has performed historically.

At Colliers Jackson-Stops, we have agents with local offices in over 55 countries worldwide. Before we take on any development, we perform due diligence on the developer and use the Colliers office in the local market to research rental levels, appreciation values, etc. We also visit each location to research new developments. We turn down about 75pc of schemes put to us to market in Ireland.

Regulation should not add to the costs associated with investing abroad, but rather should make the process more transparent while providing added protection to investors, who need that extra reassurance when investing in an unfamiliar market. Regulation will benefit not just purchasers, but also those of us acting responsibly in this area.

Gillian Ryan is manager of the International Homes and Residential Investments Department at Colliers Jackson-Stops.

Far, Far Away


Maynards Point Houses and Apartments
Where: Barbados, Caribbean
From: €260,000 for a one-bedroom apartment
What: A choice of one-, two- and three-bedroom apartments, as well as three- and four-bedroom plantation houses in a development on a tropical ridge overlooking the sea at the west coast.
Located just north of Speightstown, the area boasts many luxury hotels and quality restaurants.
Getting There: Irish buyers will need to fly to Florida USA or the UK, and in the latter case there are 29 flights a week which take about eight hours to get there.

For further information, contact the Irish agents, Colliers Jackson-Stops 01 6333700.