Expatriate Insurance News: Expats 'downsizing' -
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Expatriate Insurance News: Expats 'downsizing'

Expatriates are downsizing their overseas properties, it has been suggested.

Mark Bodega from HiFX told the Telegraph that baby boomers who bought overseas properties are now choosing to downsize their foreign properties as they reach retirement age.

He explained that the market "really took off about 20 years ago" among people from the UK, when expatriates began to look at properties in France and Spain.

The currency expert added that his firm has seen a 175 per cent increase in the number of euro to sterling transactions conducted over the last six months compared to the same period last year.

It is thought that the increase has come as people's children have grown up and left home and they are looking for a property of a more suitable size.

No matter where they live, expatriates can rest assured that their health is covered so long as they have taken out worldwide medical insurance.

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