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Buying foreign home 'is lifestyle choice'

Thu 8th Jul 2010

Expatriates who are thinking of investing in overseas homes are taking a long-term view, so there is "very little time pressure" on them to purchase, property website has claimed.

Robin Wilson, head of overseas property at the firm, said that current market conditions mean it is sensible for expats purchasing foreign homes to take a longer-term view without rushing into securing a bargain.

His comments come in light of research by the Worldwide Property Group, which found that 62 per cent of people said they are considering buying an overseas home.

The survey found that Spain, France, Italy and Cyprus remain the most popular locations for prospective expatriates to seek property.

"Spain and Florida continue to represent the most likely destinations for deals, given their high volumes of supply. France and Italy's continuing popularity means bargain hunters will have thin pickings there" Mr Wilson said.

He added that there is still a large gap between dreams of living abroad and the motivation and ability to up sticks and relocate for a new life overseas.

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