Lifestyle more inviting than profit for overseas buyers

A new survey has found that the lifestyle offered by investing in a property abroad is more of an incentive for most individuals than the profit that can be gained.

According to research conducted by YouGov, 62 per cent of people see the chance to live in warm, sunny weather as the main benefit of living abroad, Overseas Property Professional magazine reports.

Half of the people surveyed saw moving overseas as a way to escape their stressful lifestyle and the high taxes and prices in the UK.

A study by foreign exchange specialist HIFX has shown that 29 million people in Britain would like to buy a property abroad. Firm favorites are 

Furthermore, 11 million people in the UK could do so in the next five years, although it was pointed out that one in four potential buyers are not aware of the effect that exchange rate changes could have on the costs of their property.

Mark Bodega, marketing director of HIFX, said: “The impact of growing prosperity, cheaper flights and the low cost of borrowing – even lower in the eurozone than in the UK – mean the trend for buying property abroad is expected to accelerate.”

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