Brits 'should think carefully about buying abroad'

Britons considering an international money transfer to facilitate buying property abroad should think very carefully of their motivations for doing so in the current economic climate, it has been claimed.

Director of TheMoveChannel.com Dan Johnson said that while individuals looking to begin an expat life in another country are likely to be motivated by what is on offer, those who are buying purely as an investment should take real care.

"You really have to think very carefully about why you are doing what you are doing and make sure that the current economic circumstances don't undermine your ability to achieve whatever financial objectives that you have," said Mr Johnson.

His comments follow figures from property firm Knight Frank which indicate that a number of countries around the world recorded property price growth during the second quarter of the year. Prices for property in Israel have risen by 12.5 per cent in the past year, the house price index from the firm found.

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Written by Linsey Summers