One in ten who own a property abroad are looking to sell
As the recession takes its toll, many Brits with second homes abroad are being forced to sell up and return home.
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France tops the property hot spot ladder
Ambitious home buyers are still looking to pick up a property in France despite recent property tax hikes reveals the latest findings from the HiFX Property Hotspots Report, which reveals the top destinations for property ownership abroad as voted by UK adults.
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USA best value for money for overseas property
UK overseas property buyers’ money currently goes furthest in Orlando, USA, where a £125,000 budget can purchase a four-bedroom home with a large garden and a private pool, compared to a studio apartment in the Swiss Alps, according to the first annual HSBC Overseas Property Report.
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Ambitious property buyers hoping to pick up a European bargain
The ongoing financial crisis is doing little to deter ambitious home buyers as Spain and France remain the firm favorites for those seeking to buy a place in the sun.
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The December RICS/ Ci Portuguese Housing Market Survey (PHMS) reports that the Portuguese sales market remains subdued, with demand, supply and prices continuing to fall.
Whilst economists and UK exporters have welcomed the weakening of sterling as heralding a much needed correction to the UK’s chronic trade imbalances, spare a thought for the 1.1 million British pensioners claiming a pension overseas.
New research from Post Office International Payments reveals that 40 per cent of overseas property owners admit they have needed to pay out extra on unexpected maintenance costs that they did not budget for.
Ireland and the US are set to see the biggest rise in distressed sales, says RICS research, with the number of distressed properties coming onto the market in the second quarter of 2010 to increase across 19 of the 25 countries surveyed in it’s global market report.
