Bargains emerge in international property market

Britons looking to make an international payment on a property abroad may be able to do so for cheaper than they first envisioned, as bargain prices emerge.

According to website PropertyWire.com, real estate prices in locations such as Tuscany, Verbier in Switzerland, the French Riviera and the Caribbean are all becoming more affordable for those looking to make an international payment.

Speaking to the website, chief executive of France's Sotheby's International Realty, Alexander Kraft, commented that more options were coming into the market in these desirable locations.

"There are more properties coming onto the market in top destinations than we have seen for a very long time. There are good deals to be found," he said.

Meanwhile, Lucy Russell, managing director of Quintessentially Estates, added that property prices in Europe have fallen significantly, while houses in the Caribbean have fallen in price by up to half a million dollars (£136,057), which could be good news for those looking to make an international payment on a property in the region.

Meanwhile, the Caribbean region of Barbados is experiencing property appreciation of up to 15 per cent per year, according to the latest findings by Cluttons Barbados.