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Buying a Foreign Residence 'is a Popular Ambition'

Article Date : Tuesday, January 29, 2008       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Company bosses and entrepreneurs are increasingly aspiring to buy their own foreign property, according to a new study.

Investing overseas was found to be one of the most popular lifestyle goals among small business owners in a poll by Abbey Business Banking.

This placed it ahead of other aspirations such as moving to a bigger house, purchasing a top of the range car and paying for their children to be educated privately.

A total of one in three said they were keen to spend their profits on an overseas property -up from one in ten five years earlier.

This suggests that investing in a second home abroad is becoming a more popular ambition among Britons.

Ian Wilson, managing director of Abbey Business Banking, observed: "Bosses work very hard for their money and it's clear they wish to enjoy the rewards of their success."

According to the Office for National Statistics, about 848,000 people from the UK currently own a second home abroad.
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