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Finance, not markets, encourages foreign home investment

Source: Expatriate Healtchare - Fri 22th Oct 2010

Potential expats considering relocating abroad may find personal finance issues sway their decision about where to live rather than market trends, RightMove has suggested.

Robin Wilson, head of the property website, commented: "When you're buying for lifestyle reasons, returns on investment and interest rates just aren't as important - you either want a home abroad or you don't."

He pointed out that expats are more likely to take stock of their options before relocating abroad than the "goings on" in the currency markets.

His comments follow research from the Worldwide Property Group, which suggested sustained low-interest rates have driven demand for property.

Almost two-thirds (64 per cent) of respondents said they are benefiting from the continued low rates, while 71 per cent said the economic climate has fed their desire to purchase other properties.

The research also found three-quarters (73 per cent) of people believe now is a good time to invest in overseas homes.

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