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November 2007
 The problem with data on overseas home ownership is that it can differ hugely. Figures from the UK’s ONS (Office of National Statistics) can be wildly out of wack when compared with stats from (say) Mintel research, or even major estate agents and currency exchange providers (who tend to issue flimsy info on this subject on a regular basis).
So Crème de Languedoc is pleased to report that there is new, reliable research available. A study carried out for the Department of Communities and Local Government is helping clarify just how many Brits are buying property abroad, and exactly where they are choosing to invest their money.
According to the study, as many as 211,000 households now own a second home outside the UK. Of these, 23 per cent are in France (Spain remains the most popular destination with 34 per cent).
Italy and Portugal each accounted for 2 per cent of Brits’ overseas home ownership, while 16 per cent owned property in other European countries.
Good news for French estate agents is the fact that the number of Britons buying homes overseas has risen by more than 60 per cent over a period of some five years (129,000 households owned a second home overseas in 2000/2001, rising to 211,000 households in 2006).
Maybe agents should start actively courting the “grey” pound (or euro): the Government survey says that 60 per cent of these property purchasers are aged 45-64, and possibly looking to move abroad for retirement.
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