Emerging property markets attract first-time buyers
First-time buyers from the UK are increasingly choosing to invest in emerging foreign markets, an expert has revealed.
Paul Collins, property editor at BuyAssociation, said that high house prices were prompting many Britons to consider various means of generating sufficient wealth to buy their first home.
Foreign investment was highlighted as one method that was proving to be popular, as first-time buyers are snapping up cheap properties abroad in order to sell it on at a profit.
However, Mr Collins insisted that in order for this strategy to be successful, it was essential for their chosen destination to have a strong resale market.
He commented: "They need to have an exit strategy if they're looking to make some capital gain in the space of, say, six to nine months."
Mr Collins added that Turkey was a popular choice among first-time buyers, along with Bulgaria.
UK National Savings & Investments recently revealed that 84 per cent of people aged between 18 and 30 believe buying property abroad is a more feasible option than purchasing in Britain.
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