Buyers should determine investment strategy

Overseas property investors have been urged to make sure they have firm reasons for buying a residence abroad.

Currency specialist FC Exchange stated that not every country suits certain investment strategies, which means that buyers will be drawn to a variety of locations.

For example, Romania was flagged up as an ideal destination for people who want to benefit from a fast-growing property market.

By contrast, France was described as a country which would better suit long-term investors, as it has a much slower rate of growth.

Nick Fullerton, managing director of FC Exchange, commented: "If you match the strategy correctly you will see the returns.

"If you’re looking for a quick return for instance there’s no point looking in France."

He added that overseas property should "firmly establish" their reasons for buying at the very beginning of the process.

According to market research group Datamonitor, people in the UK and Ireland currently own more than 3.8 million overseas properties.