Buying overseas property bank on the agenda for Brits
A new report has illustrated just how disallusioned we are with ol’ Blighty – a third of all those considering buying property abroad are looking to emigrate permanently.
According to Primelocation International’s MyHomeLife Panel, 33 per cent of people looking to buy an overseas property are hoping to make their purchase into a more permanent home by emigrating to the new country.
Forget holiday homes – these buyers are looking for a forever home, far away from Britain. The main motivator behind their search was found to be this desire to build a better life elsewhere, revealed the research.
The trend outlined is particularly remarkable given that overall interest in international property is at record levels.
Just 23.7 per cent of respondents were on the hunt for a holiday home and a mere 12.4 per cent were searching for an investment property. A further 15.3 per cent of respondents were foreign buyers looking to purchase a UK property.
Ann Wright, International Development Manager at Primelocation International, said, “With the government warning of a period of austerity following the emergency budget, it is understandable that more people than usual would dream of emigrating away from the UK. However the fact that a significant proportion are actively searching for international property in a bid to make that dream a reality, comes as quite a surprise.
“Furthermore, the fact that barely one-fifth of those searching for international property agreed that the difficult economic climate has affected their intention to buy abroad suggests that poor financial prospects for the future are a driving factor behind Brits’ desire to emigrate. “With many in Britain now set to have to work longer before retirement, those who can afford to move abroad may feel they will not only have a better quality of life, but also benefit financially from leaving the UK. These potential buyers may well offer a small boost to international market activity over the coming months,”
So keen are people to make their new life a reality that, despite the uncertain economic outlook, barely one-fifth of respondents their intention to buy abroad had been affected by this. Just 9.8 per cent of people said that they were ‘having to be realistic’ and ‘search for property in locations that they would not otherwise consider, due to affordability constraints.’
If you are one of the hoards hoping to kiss goodbye to Britain for good, check out properties for sale all over the island of Tenerife
