Brits continue to favour established markets
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News on France, Spain
3 July 2008
Despite of the emergence of new global property destinations, some of which offer cheaper properties and better short-term investment returns, established locations such as Spain and France remain firm favourites with British property investors.
Fresh research conducted by Zurich Private Clients reveals that Spain is still the most popular destination to own a home overseas, with 26% of all overseas homes owned by Brits situated in the country.
Meanwhile, around a quarter of British-owned foreign properties are located in France, which may come as a surprise to some, given the current strength of the euro curency against the UK pound.
Nick Brabham of Zurich Private Clients comments: “In the last few years, the overall number of Britons who own a residence overseas has gone up.
”There has been a steady rise in the number of customers with second homes, either in the UK or abroad.”
Additional research from Datamonitor shows that over 3.8m overseas properties are owned by people in Brital and Ireland.
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