Insurance News Archive

Brits choose European property 'over other investment options'

Increasing numbers of people are looking to buy European property as they seek alternative ways of investing their money, according to an expert.

PrimeLocation.com recently reported that there was a 14 per cent rise in enquiries about overseas accommodation, with Spain making up 31 per cent of all requests and France 25 per cent.

Adam Samuel, director at Nubricks, confirmed that his company has seen exactly the same trend with more people searching across all foreign property markets.

"I think it is now the situation where people are looking for alternatives to invest their money [in] compared to the stock market," he suggested.

Mr Samuel added that poor interest rates on savings and the negative media coverage of other investment vehicles have prompted people to consider investing their money in European property instead.

Recent research by the Royal Institution of Chartered Surveyors found that house prices on the continent either fell or remained static last year, with accommodation in Estonia seeing the biggest fall, down by 23 per cent.

27 Apr 2009