Interest 'growing' among overseas property investors

The number of investors looking to purchase overseas property is beginning to increase, it has been claimed.

According to Elisabeth Dobson of currency exchange broker World First, there had been a "drop-off" in the number of UK-based buyers investing in overseas homes over the last few months, but this situation is now beginning to change.

"Things do seem to be picking up," she stated, adding: "There's certainly a lot more confidence now than there was a few months ago" due to sterling beginning to recover after falling to near parity with the euro.

However, Ms Dobson noted that the situation is still not ideal, as many French estate agents are currently selling property to locals that would have been purchased by Britons were it not for the current economic downturn.

Her comments follow a recent statement from Mark O'Sullivan of Currencies Direct, who told the Agence France Presse that the fall in the pound's value has affected sales of property in France.

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