Familiarity 'more important than rankings' to foreign property investors
08/10/09 16:34
Despite a recent global report naming Norway, Australia and Iceland as the best places in the world to live, investors are choosing more familiar locations for second homes and retirement.
Published earlier this week, the United Nations' human development index also ranked Canada and Ireland in the top five places to live.
Richard Way, editor at overseas property publication A Place in the Sun, said the research was more applicable to native residents than retiree expats or those buying a holiday home.
"People are looking at destinations that they are familiar with and that they know from holidaying there," he explained.
Asked whether investors are taking advantage of the downturn to secure low-priced real estate, Mr Way noted that buyers are showing "a bit more confidence".
He pointed to an upturn in interest in cheap Florida property as an indication that buoyancy is returning to the market.
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