Many British residents are looking to make their next property purchase abroad in the wake of the recent slowdown in the domestic housing market, a new survey has revealed.
Results from Cater Allen Private Bank's research have shown three million people are looking to buy foreign property over the next two years, joining the 2.3 million that already own a home overseas.
And the survey also predicted that the current 25 per cent of purchasers who are buying for investment reasons is likely to increase to 42 per cent by 2011, with Real Estate TV's Steve Dawkins citing the current dissatisfaction with the current UK market as the main factor.
"Overseas bargains become more appealing at times like this and people are beginning to realise that there is investment potential out there," he added.
In related news today, property firm HomesGoFast has cited the Hurghada resort in Egypt as a potential destination for overseas investors.
See Also: Property News (5994)
Date Published: 06 October 2008
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