Emigrants search for "really distressed homes"

Emigrants from the UK are increasingly likely to use foreign exchange services in order to buy distressed homes abroad, according to recent research.

Overseas property expert Nubricks recently reported that the number of cheap properties purchased by Britons abroad has increased.

Adam Samuel, director from the company, said: "The people that are out there are looking for really distressed property.

"It has got to be property that really has been reduced from its original value."

Further figures from the International Law Partnership have shown that snapping up distressed properties was the sixth most common investments made by Britons buying international homes.

Foreign exchange services have been used to purchase buildings in a host of countries, with many UK investors searching for houses in Croatia, South Africa and Spain, according to figures from Primelocation.com.

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By Linsey Summers