Purchasing property abroad 'more attractive than the UK'

An increasing number of Brits appear to be considering sending money overseas and purchasing a property abroad, new research has shown.

According to a report from the Worldwide Property Group, more individuals than ever before are keen to invest their funds in a foreign country.

The organisation conducted a poll that revealed 67 per cent of respondents think it is a good time to browse the housing market outside of the UK.

A further 65 per cent said they were actually considering investing their money in a second home abroad.

The most popular destinations included the US, Turkey and Portugal, with the latter taking third place despite the country's ongoing economic worries.

Kevin Wilkes, managing director of the Worldwide Property Group, said: "It's hardly surprising that investors are looking beyond the UK for places to invest.

"Many overseas regions are providing very strong potential returns."

It was suggested that Portugal is popular with many Brits due to its European location and close proximity to England, Spain and France.

As a result, travelling to and from the nation is not too costly, as people can take advantage of budget flights offered by low-cost airlines.

"With some incredible potential for property investment overseas mixed with increasing ease of purchasing a foreign property, people are finding they have much greater choice," Mr Wilkes commented.

The expert added that many Brits seem to have an increasing confidence in the overseas property market, with investment remaining high.

It was suggested by Mr Wilkes that for the 67 per cent of those deeming now a good time to make a purchase, the housing sector appears to be a better investment than gold, shares and savings.

Elsewhere, Darren Owen, director at Property & Finance Solutions, recently claimed that demand for buying homes has "never gone away", even during difficult economic times.

Posted by Jennifer Wilkinson

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