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Investors 'boost pensions' with foreign property

Article Date : Monday, March 12, 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

British investors are increasingly boosting their pension funds by purchasing property in countries such as Spain or France, a new report has found.

According to research by Self-Catering-Breaks.com, 50 per cent of investors have bought a property in a foreign country, compared to 24 per cent who opted for the UK.

The so-called "jet-to-let" era is proving to be a good time for investors attracted to "solid" rental returns and capital appreciation, the firm stated.

Gareth Robinson, managing director, said: "With overseas property investment increasingly seen to offer both security and an enjoyable asset, a growing number of people are turning to it as part of their investment and pension funds."

The report also revealed that a fifth of UK investors finance their overseas property with a mortgage from a European bank.

It follows a survey by National Savings and Investments that found 43 per cent of young people are contemplating buying a property in Spain.
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