Facts revealed about British overseas property buyers

  • 11 years ago
  • Uncategorized

The British have been known for buying
property in Spain and France and US hotspots such as Florida for years .  A new fact however about where in
Britain buyers come from has never been revealed until now.  

 

A survey of over 1255 British property
buyers who are planning to buy real estate abroad are in fact located in the
South East of England. The survey conducted by The Overseas Guides Company also
revealed where in the world these buyers were considering making a purchase.

 

The location of buyers in the UK were
broken down further indicating that , 16.2 per cent came from the South East,
11.6 per cent from the South West and 7.1 per cent from London.

 

All of the respondents were considering a
property purchase in France, Spain, USA, Portugal, Cyprus, Italy, Greece or
Turkey.

 

Richard Way, editor of The Overseas Guides
Company, says: “Crucially, our survey showed that nearly a third of
respondents – 31.7 per cent – will finance their overseas property purchase
solely with the proceeds of the sale of a UK home, with a further quarter
buying abroad with a mortgage combined with the sale of a UK home or other
funding.

 

“The South and London continue to
record the UK’s highest average property prices so clearly homeowners in these
parts can afford to move abroad more easily.”

 

The OGC survey results also revealed
regional differences between British people buying overseas property. For
example, Italian property appears to be especially popular with Scottish
people, who accounted for 10.9 per cent of respondents looking to buy in Italy,
third only to the South East (14.3 per cent) and South West (13.4 per cent).

 

The one country where buyers from the South
East did not outnumber all other groups was Portugal, where people from the
South West came out on top with 14.8 per cent, followed by those from the North
West (12.3 per cent) and then the South East (11.1 per cent).

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