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Expatriate Insurance News: Personal property purchases rising

An increasing number of people appear to be buying property abroad for their personal use.

Expatriates might be interested to learn that a study from foreign exchange firm Smart Currency Exchange, revealed that almost 50 per cent of respondents are considering purchasing overseas property for use as a holiday home.

A further 25 per cent are considering buying a home abroad to retire or emigrate to and just seven per cent are looking at houses in other countries purely for investment purposes.

Charles Purdy, director of the foreign exchange firm, told Overseas Property Professional: "Anyone thinking of buying overseas needs to go in with their eyes open and doing as much research as possible into the property purchase system and also into intelligent currency strategies that can help cut the cost and remove risk from cross-border transactions.

"The dream of living abroad may have taken a knock but is still very much alive."

Moving abroad? Get a free quote for your international medical insurance online.

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