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BRITS STILL KEEN ON HOMES OVERSEAS FOR ‘SAFE’ INVESTMENT
Mintel report Nov 2006 (Article courtesy of )
A report just published by Mintel has confirmed the current trend of overseas home ownership by Brits.
In the two years since 2004, the number of people who own a second home overseas has grown by 250,000 to 800,000 – an increase of 45 per cent – and the trend shows no sign of fading.
The reasons the report gives for this continuing growth of overseas property ownership by UK residents are; Low interest rates, rising property values in the UK and the rise of no-frills airlines. This may not be news to a lot of our readers, but it is interesting to have some hard numbers from this reliable source.
Mintel’s report titled Market for Homes and Properties Abroad, said around a quarter of people want to own a second home in the sun, with five per cent saying they are committed to selling up and moving abroad.
Of the destinations that these future home owners listed, Spain was still the most popular destination with 43 per cent of Brits wishing to escape to the Spanish sun, whilst France came second with 26 per cent of purchasers wanting to head across the Channel.
Paul Davies at Mintel said: "Interest in overseas property has also been stimulated by the amount of coverage the issue has received across the media, together with the boom in low cost airlines."
The survey of 1,962 people found that 40 per cent of people were keen to make a profit from their property investment abroad and were choosing safe locations, such as Spain and France.
This is interesting given the recent boom in emerging markets – and add further weight to the Languedoc as a wonderful place to live in or visit and given the demand for safer investments – you need look no further. The property market in this region continues to perform well and still tops the charts for year on year growth.
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