British still buying abroad 18 05 2008 - News Archive

British still buying abroad

People in Briton are still buying property abroad, despite the credit crunch and despite the fact that it is predicted that this summer we be long and hot.

One obvious advantage, certainly where it is a lifestyle purchase, is that an overseas property can usually provide access to good weather in winter as well. It will also take more than one potentially good UK summer to persuade buyers to buy second homes here.

Also, depending on the country of choice, overseas property investments are cheaper to enter into and can provide better capital growth than the UK at present.

Last year people in the UK spent around £24 billion on overseas property.
 
:: Added on: 18:05:2008 ::

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