Overseas Property Agents the Brits are Coming

  • 17 years ago
  • Uncategorized
Traditionally the summer months see a slow down in overseas property purchases and traffic reduces on many overseas property websites. The autumn is around the corner and a new upsurge in the booming overseas property market is predicted in the coming weeks.
New research from Moneycorp, the UK’s based foreign exchange specialist, reveals that the number of people buying abroad rises by as much as 26 per cent in the autumn months¹. An increase of these proportions would push the number of British households with a second home overseas to record levels.
Seasonal activity in the overseas property market is one feature of what has generally been a booming market over the last few years. Between 2004 and 2006 the number of British people who owned a second home abroad soared from 550,000 to 800,000*. With a further 5.5 million Brits estimated to live abroad and this number growing all the time², it is clear that people are increasingly being tempted by the different cultures, lifestyles and often improved standard of living that other countries can offer.
Nick Bull from Moneycorp says: “Our figures show that the number of people buying abroad has a significant peak in the early autumn as many people use their summer holidays to hunt for their ideal second home. Interest in buying abroad can quickly strengthen after a few weeks back in Britain as the days shorten and the weather takes a turn for the worse, not that it has been great anyhow.”
Florida agents and Developers have also been anticipating the arrival of the British overseas property buyer. Hard pressed US agents have been struggling to sell their properties in Florida and are see that UK market as the place to sell their homes. Overseas property portal HomesGoFast.com “ September has seen a flurry of activity from Florida developers and realtors who want to market their homes to a UK audience. Florida agents feel that they have done what they can in their own markets and are now looking towards overseas buyers to save the day’ commented CEO Nicholas Marr
When buying property abroad, making regular payments overseas or other overseas money transactions it is important to receive specialist currency advice. This will allow you to obtain the best foreign currency exchange rates. International real estate investors and anyone transferring large sums abroad do not have to be at the mercy of the money markets or the banks.
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