Investing abroad could be lucrative

British investors have been told that the current downturn in the property market could make a foreign investment a better option.

The Telegraph stated that house prices in the UK are currently falling and are not likely to increase significantly in the foreseeable future.

By contrast, it stated that many foreign countries are seeing considerable growth in their housing markets, which means that properties are appreciating in value.

As some of these places also offer much cheaper housing than the UK, investors could be able to snap up a cheap property and sell it on at a profit.

This means that many of those who have been priced out of the domestic housing market could find themselves able to afford a deposit for a British property.

The Telegraph commented: "UK property prices show no signs of lifting in the near future - quicker gains may be found by investing overseas."

Meanwhile, the Sunday Mirror has reported that more and more British first-time buyers are choosing to enter foreign property markets.

According to the newspaper, many have been supplementing their wealth by letting their residence out to tenants.