Falling prices 'makes property abroad appealing'

Spain, Turkey and Florida have all been named as ideal places to purchase property for those investors keen to send money abroad and take advantage of a bargain.

Andy Bridge, managing director of A Place in the Sun, described how the three nations currently offer affordable homes for those who have capital or access to a mortgage.

He noted that in Spain, lenders are keen to encourage buyers to purchase properties where previous owners have defaulted on payments.

As a result, it was suggested that individuals are in a "very strong position" if they want to invest.

"There are a lot of great properties for sale at prices lower than we've seen for ten to 15 years," Mr Bridge commented.

It was also noted that Florida is "particularly affordable" as many homes are for sale at a price lower than the build cost and up to 60 per cent lower than three years ago.

Meanwhile, Turkey was described as proving popular due to sterling going further as the country is outside of the eurozone.

"Property is relatively affordable and it's a wonderful country for food, climate and culture," Mr Bridge added.

People were advised that owning a home abroad is "fantastic" as individuals can have access to a place in the sun where they can spend increasing amounts of time later in life.

One final country that may be worth looking into is France, as Mr Bridge explained that prices have fallen slightly and its location is very handy for Britons.

Sharon Evans, director of Cle France, recently claimed the pace of life and more relaxing days are just some of the things that appeal to those looking to move to the nation.

Posted by Jennifer Wilkinson

Click here to find how much you can save with HiFX's Foreign Exchange services.