UK First Time Buyers Turn to Overseas Properties

| Total Words: 1179

Beth Collingz, PLC International Marketing Director for Pacific Concord Properties Inc’s Lancaster Brand of Apart-Hotels or Condotels in the Philippines said a recent study published by UK National Savings & Investments found 84 per cent of 18 to 30-year-olds believe buying property abroad is a more viable option than buying in Britain. Young people buying abroad and renting in Britain are and will continue to be a growing phenomenon. They generally look at spending less than 200,000. This comes on the back of recent reports by Barclays Bank that revealed the number of Britons keen to buy property abroad has doubled to 18,000 in a year.

When you consider these facts along with aging population, increased property wealth, Self-Invested Pension Plans and leisure lifestyle aspirations of the populous it is easy to see why many shrewd property investors are looking for better lifestyle and hassle free overseas ownership and why many advisors are looking aside from the traditional UK buy to let and Spanish holiday let for property options for Condotel Investments in the Philippines. Collingz said: Since the Dollar value depreciated and UK Pound Sterling hit 96:1 on...

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