Insurance News Archive

Brits 'increasingly looking' to invest in foreign property

Due to tough economic times in the UK at present, more people are looking into investments in property abroad, it has been said.

More than three million people may buy a property overseas in the next two years, according to Cater Allen Private Bank.

Research from the institution showed 17 per cent of the over-45s are likely to purchase in a foreign country, making them the key group in the statistics.

Sally Watts, marketing manager at Cater Allen, said the lack of guarantee of returns in a "deteriorating property market" is partly responsible for the shift in interest to Europe and further afield.

However, she advised people buying abroad to consider if their account covers two types of currency such as the euro without penalties.

In other news, Blevins Franks warned people to find out about how the different tax laws in France will affect them as one of the most important things to factor in to decision-making.

25 Sep 2008