Britons look for cheaper properties abroad
The current state of the UK housing market is prompting many people to look at buying abroad, it has been revealed.
Currency specialist HiFX stated that the number of Britons deciding to become overseas property investors had gone up in the last few years.
This was attributed to various factors, such as the houses in the UK being unaffordable to large sections of the population.
Mark Bodega, marketing director at HiFX, commented: "With the property price issues in the UK, more and more investors are now looking overseas to the emerging markets and hotspots."
However, he recommended that people who chose to take this course of action make sure they carry out advance research before committing to a purchase.
In addition, Mr Bodega said that prospective investors would also benefit from getting independent advice.
According to figures from Datamonitor, Britons now own more than £44 billion worth of foreign property.
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