Europe attracts British investors
Most second home buyers in the UK are choosing to invest in European markets, according to new research.
A study by Holiday-Rentals found that nine out of ten overseas property owners chose to stay relatively close to home in countries such as France, Italy and Portugal.
However, the organisation revealed that eastern Europe was becoming more and more popular with British buyers, in particular Croatia, Bulgaria and Montenegro.
These markets were said to be attractive to holiday home buyers because of their relative value for money, as well as their good accessibility and potential for capital growth.
Figures from the firm showed that between 2006 and 2007, the number of Montenegrin properties that Holiday-Rentals was listing went up by 157%.
Rapid increases in Bulgaria and Croatia were also recorded throughout this period.
According to the Office for National Statistics, about 848,000 people from the UK now own land or a residence outside Britain.
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