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FIRST-TIME BUYERS LOOK ABROAD

Friday, 04 Apr 2008


A growing number of first-time buyers who cannot afford to purchase their own home in Britain are choosing to buy a property abroad

First-time buyers look abroad Paul Collins of the BuyAssociation website said that house prices in the UK have risen to the point where many people cannot afford to get on the housing ladder.

However, many other countries have much cheaper property prices and are increasingly being seen as viable alternatives.

Mr Collins said that during the last four to five years, many first-time buyers have been investing in markets that had been seeing considerable growth, such as Spain.

This allows property owners to sell their house on for more than it was originally purchased for and use the returns to purchase a home in the UK.

Mr Collins commented: "They’re finding that it's better off going overseas and building up a little more equity and owning a property."

According to a study by Fair Investment Company, more than half of first-time buyers in the UK have either bought or considered buying a home overseas.

Property Select offers a comprehensive selection of overseas property, news, members club and reviews of the latest property developments.


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Similar Property Developments

  • La Rosaleada - Bonalba, Costa Blanca - Apartment prices from € 110,000
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  • Conzeta Villas - Pego, Costa Blanca - Apartment - Villa prices from € 127,000

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