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More Brits looking at overseas property as an investment

While the number of Brits that own property overseas can vary depending up on who you talk to, it is widely regarded that there are in excess of 2m overseas homes owned by Brits. However, if indications from the markets are correct this figure is set to rise sharply over the next few years. A mixture of higher living costs, inflated property prices and general disappointment at the state of the UK have seen many people looking overseas - with the over 45s very active in this field.

A survey by Cater Allen Private Banking has revealed that over 17% of the over 45s were looking to acquire overseas property within the next two years. As well as the reasons above it seems that many investors have had enough of the UK mortgage sector where promises have not materialised and investment funding does not look like picking up in the immediate future.

While it would be wrong to single out the UK for criticism when looking at worldwide markets, there is no doubt that the cost of living has moved up another notch over the last few months. The tax take has never been higher and with the Treasury budget under severe pressure we will see tax rises in due course. Many feel that these are more than ample reasons to look overseas.......

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