Overseas properties 'supplementing pension'
Many people are investing in overseas properties in order to supplement their pensions, according to an expert.
Beth Collingz from Pacific Concord Properties said that many clients wanted an alternative to traditional private pension schemes, as well as those offered by employers and the UK government.
She added that increasing house prices had also played a part in encouraging people to purchase abroad, as people could get more for their money in cheaper markets.
Ms Collingz commented: "Savvy investors are now looking for a more solid investment with potential for monthly income."
Prospective investors were also told that investing in foreign property was not as risky or as difficult as many believed.
The Pension Advisory Service recently said that property investment was "fine" if people could afford it, although the organisation recommended that people do not put all "their eggs in one basket".
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