Overseas property ? "pure" investment or lifestyle choice?

Article Date : Wednesday, April 18, 2007

There are normally two reasons why people buy overseas property ? "pure" investment or those buying for "lifestyle" reasons, according to property consultancy Knight Frank.

Liam Bailey, head of residential research, believes that people are either looking to buy somewhere that will outperform the UK investment market or are buying a property to use as a holiday home "and then with an eye to retirement".

He said that Brits are often on the lookout for places where they might live in retirement, but stressed that investors hoping to buy a property in a city or urban area are likely to be more serious investors.

A big trend at the moment to invest in popular cities like Barcelona, where the market is strong, Mr Bailey remarked.

However, "whether it's somewhere you'd want to retire to is a different question," he added.

Mr Bailey's comments came as a new survey from currency specialist HiFX found that there has been growing interest from Brits looking for an overseas property so that they can emigrate.

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Overseas property ? "pure" investment or lifestyle choice?

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