Firsttime buyers speak of foreign purchase

Two first-time buyers from the UK have spoken of their decision to purchase their first home in France.

Oliver Richards and James Nunn recently purchased a ski chalet in the French Alps for about £240,000.

Speaking to the Independent, they said they opted to purchase a foreign property because they have been priced out of the domestic market.

The pair lamented the current state of the housing market in the UK, with Mr Richards saying that prospects appear to be "pretty gloomy" at the moment.

By contrast, the housing market in the French Alps is expanding, while the area also offers many lifestyle attractions.

Mr Richards commented: "We feel we have got a lot more for our money in France and that the place has great potential for growth."

He added that they hope to collect strong returns on their investment, which could then be put towards buying a home in the UK.

This comes after Fair Investment Company found that 44% of first-time buyers are thinking of buying abroad in order to save for a deposit for a British property, while 8% have already done so.

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