Overseas possibilities buoyed by credit crunchOverseas possibilities buoyed by credit crunch
The credit crunch is resulting in more UK residents looking to leave the country and purchase property overseas, according to one property advice website.
Property editor of BuyAssociation Paul Collins stated that many people have seen the economic problems as a sign to move abroad to an area where the cost of living is lower.
"You can survive on the same amount of money with an improved lifestyle [by moving abroad]," he remarked, noting that the foreign market is currently favouring those looking for a long-term investment.
"If you are looking for a holiday home [or] if you are looking to emigrate … now is a fantastic time to buy," he added.
According to research from HiFX, 30 per cent more people were considering moving abroad in the first half of 2008 when compared to figures from 2007, with the number of residents actually moving increasing by ten per cent.