Property executives see where the future lies

A new survey has suggested that people planning to make international money transfers to Europe could be getting themselves a good deal, as some of the top industry professionals are planning a similar move.

According to a poll carried out by Reuters, many property executives are pinpointing European states such as Portugal, as well as African countries as areas where they would consider making an international payment for a second home.

Mike Sales, head of property investments at Henderson Global Investors, told the news agency: "Portugal - east or west of the Algarve - I am looking at a piece of land there with a couple of friends because it is a quarter of the price of the Algarve."

Meanwhile, people considering making an international payment to Africa may find they are able to make a killing in the market, with Peter Welborn, Knight Frank's head of Africa, picking out Malawi as an ideal place for a second home.

A recent survey by NatWest International personal banking found that New Zealand appears to be people's favourite destination to emigrate to.

The study found emigrants living in the country are the most contented of any British expatriates, thanks to low congestion levels and a slower pace of life.

By Paul Jarvis