Article in the Telegraph dated 18/10/2010.
More Britons Investing in Property Overseas:
The British are the most enthusiastic overseas property investors in Europe, according to new research Photo: Sabine Lubenow / Alamy The research, conducted by FindaProperty.com, shows that the British are the most enthusiastic property investors in Europe, and that a total of two million Brits are now spending the majority of their time living abroad. Nigel Lewis, head of content of FindaProperty.com says that out this figure, 450,000 expats are still in employment and have mostly moved abroad through corporate relocations or because they have set up businesses overseas. “1.2 million British expats are retired or semi-retired, of which 400,000 are in Spain, and 200,000 in France. The remaining 350,000 are either on holiday, second home owners or ‘investors’, but it’s hard to separate these two as many people treat their overseas properties both as somewhere to go on holiday and somewhere to earn income from,” he says. Ann Wright, International Development Manager at Primelocation.com says that international property searches continue to perform strongly. “Public spending cuts, increased personal taxation for the rich and fewer job opportunities in the UK have led many to re-evaluate their lives here and consider moving abroad. While the economy is in its current state, people feel that it could be a good time to leave the UK and pursue opportunities overseas,” she says. A recent survey conducted by the UK-based estate agent Worldwide Property Group found Spain to be one of the favourite destinations for British people to invest in. The US, Caribbean and Brazil are also considered good places to buy property. According to the survey, nearly three quarters of people in the UK believe now is a good time to buy property overseas. The interest levels in buying foreign property reached a peak in September this year. “Many countries have suffered from big drops in house prices, which makes properties attractive to buyers coming from the UK,” says Ms Wright. By Meghna Mukerjee (TELEGRAPH.CO.UK)
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still here after all these years!
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