Interest in overseas property 'to rise in Autumn'
A growing number of people are expected to have used their family holidays to choose a location for a property investment abroad, according to a new report.
Research by foreign exchange specialists Moneycorp found that the number of second home owners increased from 550,000 to 800,000 between 2004 and 2006, and is likely to increase further this year, the Press Association reports.
Nick Bull, spokesman for the firm, said that the number of people purchasing property abroad usually peaks in autumn following summer holidays overseas.
"Interest in buying abroad can quickly strengthen after a few weeks back in Britain as the days shorten and the weather takes a turn for the worse," he remarked.
Commenting on the overseas property market, a spokesperson for Knight Frank said that buyers are now much more informed when it comes to making such decisions.
The internet and the media now provide investors with a great deal of information, he stated.
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