One in four consider property abroad

Published 06th Sep 2007

The number of people considering a property abroad has increased by almost 10 per cent over the past six weeks.
According to the latest research from Foreign Currency Direct, one of the UK’s leading money exchange providers, almost a quarter of Brits have considered buying a property overseas compared to just 14 per cent six week ago.

When quizzed on the factors influencing their decision, almost one in 10 admitted they had been bitten by the Phil and Kirsty bug as they had been inspired by television property programmes.

The Bail out Britain campaign – which tracks the number of Brits moving abroad and the reasons why – revealed 16 per cent are considering a purchase abroad because it’s a good investment and more than one in 10 are considering an overseas purchase because they’ve recently enjoyed a windfall.

Coming to the end of a dreary British summer, more than one in 10 Brits long for warmer climes and have been motivated to buy abroad by their summer holidays.

Peter S. Ellis, CEO of Foreign Currency Direct, said: “It is no surprise that the number of people considering bailing out of Britain is on the increase – we have had a truly miserable summer and property abroad continues to offer attractive investment opportunities.

“We would urge people to consider the full cost of committing to buy abroad. Seeking professional advice when it comes to factors, such as currency transfer, can save you thousands of pounds which you can reinvest into finding the perfect property.”
By Jennifer Lowe

Source: ' Personal Finance & Savings '

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