One fifth of Brits own a second property abroad

  • 11 years ago
  • Uncategorized

Around a fifth of Brits have taken the plunge and bought an overseas property, reports.

New research conducted for the Telegraph Weekly World Edition found that around 20 per cent of Brits now own a foreign property, be it for permanent residence or as a holiday home.

Not only that, this figure could be set to rise further still over the coming years, as a consistently strong pound provides househunters with the potential to snag a bargain. This has also correlated with sustained low prices in markets hit hard by the recession (such as Greece, Spain and Italy), where cheaper properties are even more forthcoming.

Mortgage provider Conti Financial Services is just one of those which has experienced a huge uplift in foreign property interest, as it recorded the busiest two months of the whole year in October and November. Given that the market factors which impacted this added interest aren’t set to abate any time soon, these results could continue for the foreseeable future.

Britain’s recovering property market is also providing an attractive prospect for Brits who have migrated from their homeland. With prices rising, many are expected to invest back in Britain and purchase homes to let in the hope of securing a solid return on their investment.

Explaining her own personal experience, director of Conti, Clare Nessling, told how France and Spain were still popular among British investors looking to “play it safe”, although an increase in confidence could soon lead to other options starting to become attractive as well.

Compare listings