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Retiring abroad 'increasingly popular'

Article Date : Friday, June 29, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Rising prices within the UK's housing market are enabling a growing number of Britons to retire overseas, according to one expert.

This trend, which may be of interest to those considering buying property overseas, is being driven by the number of people releasing equity from their homes to invest in real estate abroad, Chris Simmonds, managing director of Saga Overseas, states.

"Retiring to the sun has become easier, cheaper and more attractive to many UK residents," Mr Simmonds remarks.

Spain continues to prove a popular destination, he adds, suggesting that people enjoy the "reassurance" of living within a growing ex-pat community in many locations in the country.

HiFX recently reported that despite suggestions that the Spanish market was heading for a crash, the country remains the most popular destination for Britons buying property overseas.

The firm stated that 27 per cent of all enquiries it received were for Spain, but warned potential investors to look to areas that are not overdeveloped and where supply is not outstripping demand.
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