Expats seek reduced living costs

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EXPATS SEEK REDUCED LIVING COSTS

Thursday, 03 Apr 2008

Many Britons are purchasing houses in other countries in order to enjoy a cheaper cost of living, a newspaper has stated.

The Sun said the impact of the credit crunch and rising inflation has made living in the UK a very "bleak experience".

According to the publication, these financial issues have contributed to the growing trend of setting up home overseas.

The newspaper stated that about 5.5 million people from the UK are now residing abroad on a permanent basis.

Meanwhile, the Telegraph has also spoken of people's concerns with rising fuel costs, council tax and food prices.

The media outlet said that with this in mind, it is "hardly surprising" that many homeowners in the UK are "seriously thinking" of selling up and moving overseas.

Earlier this week, a poll by NatWest revealed that 90 per cent of British expats consider themselves financially better off than when they lived in the UK.

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