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Credit crunch 'makes people move abroad'

More people will be looking to emigrate and become an expatriate as a result of the credit crunch, BuyAssociation has said.

Property editor, Paul Collins, said that people tend to see economic turmoil as the time to go overseas as it can actually make your money go further if you are living somewhere where the cost of living is quite a bit lower.

"What it does tend to do is it tends to make people want to emigrate more. You can survive on the same amount of money with an improved lifestyle," he said.

According to Mr Collins, due to the state of the global economy, now is a better time than any to move abroad and join an expatriate community.

"If you are looking to emigrate and if you are looking for a long-term investment now is a fantastic time to buy," he added.

Research from HiFX shows that the number of people enquiring about emigration has increased 30 per cent in the first half of 2008 compared to last year.

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