More Britons choose to move abroad
09 February 2009
Despite the global financial crisis, one in six Britons are considering a foreign property purchase within the next year, according to latest research conducted by Foreign Currency Direct.
Foreign Currency Direct’s “Bail Out Britain Index” said there had been an increase of 17 per cent of the proportion of potential overseas buyers planning an indefinite move abroad, and there had also been a huge 70 per cent increase in the number of people looking to buy holiday homes abroad.
However, the research, also suggested that the recent weakening of the pound against other currencies had put many off investing abroad, with the proportion of potential foreign property buyers looking to buy a property as an investment dropping by 47 per cent, from 32 per cent in January 2008 to 15 per cent in January 2009.
Peter Ellis, chief executive of Foreign Currency Direct, said: “We are seeing a distinctive shift in what motivates Britons to buy a property abroad. The results from this latest research show that, while people are still looking to buy property abroad, it is increasingly for a permanent move or as a holiday home rather than as an investment opportunity.”
Better weather conditions and greater value for money were cited as the main reasons for wanting to own a home overseas in the poll, in which over 2,000 people took part.
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