A growing number of Brits are considering purchasing property abroad as a result of the damp British summer, it has been claimed.
According to Yorkshire bank, four in ten homebuyers are thinking of buying abroad, while a third of Brits see overseas property as a financial investment or a retirement plan.
Spain is the most popular overseas destination, especially Costa Blanca and Costa del Sol.
"Buying a house, let alone buying one in a foreign country, can be a challenging business," said Steve Reid, Yorkshire Bank's director of retail banking.
"Despite this, Brits are still convinced that owning property in Spain is a financial decision worth pursuing."
The bank also said that one in six homeseekers believe that buying abroad is the best way of climbing onto the property ladder.
According to Kyero.com, the average property price in Spain is now €248,000 (£172,000).
See Also: Property News (6705)
Date Published: 12 October 2007
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