Brits are snapping up cheap property abroad, says expert
28/04/09 18:21
British buyers are now looking to pick up property abroad that has fallen in value, says Adam Samuel, director of property company Nubricks.
Mr Samuel noted that it is the distressed sales which are attracting buyers' attention.
"It has got to be property that really has been reduced from its original value," he commented.
According to research by the International Law Partnership, the practice of buying distressed property is now so commonplace, it is the sixth most popular investment for Brits buying abroad.
Cheaper property could be one factor those considering an expatriate lifestyle consider before making a move abroad.
UK property has witnessed a fall in value as a result of the recession, however it is still hard to secure a mortgage from many lenders.
Moving abroad has many advantages, although foreign health services may not be as comprehensive as the NHS, so budding expats should take a look at international health insurance instead.
Moving abroad? Get a free quote for your international medical insurance online.
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