Economic problems drive investors overseas
Ongoing problems in the global economy are prompting some property investors to look overseas, according to industry experts.
BuyAssociation stated that investors from the UK believe the domestic market does not currently present many money-making opportunities.
As a result, many are seeking more lucrative investments overseas with the money they have available.
Paul Collins, property editor at the website, commented: "As the property market in the UK continues to go through a correction, people start to look to overseas for better opportunities."
However, he added that lifestyle aspirations have also helped to boost the popularity of buying a foreign property.
For example, Mr Collins said being able to enjoy a better climate abroad is still a major reason for purchasing a residence overseas.
This comes after Exchange Bond reported that British and Irish residents now own up to 3.81 million foreign properties.
According to the organisation, this figure could rise by as much as 10% this year.
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