Overseas property still tempting Brits, says survey

The dream of owning property overseas remains alive for British consumers, despite the ongoing effects of the credit crunch, a new study suggests.

Carried out by Homes Overseas in association with Barclays, the research suggests 2.4 per cent of the 2,138 respondents would consider purchasing a house in another country in the next 12 months.

The organisation notes that if this result was reflected on a national scale, approximately 1.44 million Brits could enter the market for overseas property in the next year.

France and Spain were identified as the most popular countries in which to purchase property, with other well-liked destinations including Italy, Portugal, Dubai and South Africa.

Marc Da-Silva, editor of Homes Overseas, commented: "Brits still have a large appetite for homes abroad - and why not?

"The global property market slowdown should definitely be perceived as a window of opportunity to negotiate a property deal at a bargain basement price."

International money transfers could provide an easy way for those looking to buy a home overseas to finance their endeavours.

Meanwhile, sector commentator Zoe Dare Hall recently suggested in the Times that people look further afield when seeking a European property as they could find a bargain.