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As celebrities lose their shirts in Dubai, A Place in the Sun editor Richard Way says now's not the time to panic over overseas properties.

According to the Sunday Mirror: "Stars including David and Victoria Beckham, Michael Jackson and Brad Pitt are losing £80,000 A WEEK as their luxury Dubai villas crash in value. Celebs who bought the properties in their droves over the last few years have seen prices halve, with pads worth £3.2million in October now on the market for £1.6million."

But according to Richard Way, editor of A Place in the Sun, the UK's best-selling overseas property magazine, now could be the best time in a generation to buy property abroad.

"If you've got the cash and you can buy now, you can get fantastic bargains," says Richard. "You don't buy properties when the market is on the way up – you buy when you're near the bottom of the market. And if we're not at the bottom now, we're close to it.

"If you're buying for investment and take a mid to long-term view – five to 10 years – then you should see healthy returns."

Richard offers five key points to consider if you're thinking of climbing onto the overseas property ladder:
1) Look into forward contracts for your cash: consider fixing your currency conversion rate to fix the price of your property
2) Take care with purchasing off-plan: only buy property that's completed, or from established developers
3) Get independent legal advice: always use a lawyer (ideally not the one the developers recommend)
4) Be prepared to haggle: there's no harm in putting in a sneaky offer
5) Watch your wallet: budget for your purchase carefully - now is not the time to overstretch yourself financially

Buyers looking to avoid costly mistakes should head for A Place in the Sun Live, the UK's biggest and best-attended overseas property exhibition, for plenty of practical and independent advice on buying abroad. Based on the hit Channel 4 TV series, the award-winning A Place in the Sun Live is taking place at Earls Court 2 London from 3rd – 5th April.

For the first time, the show is being held alongside the EDF Energy Ideal Home Show, allowing visitors to attend both shows to find and fit out their perfect properties – both home and away.