Why EU First-Time Rental Property Investors Should Head Overseas

Having a property abroad strikes many of us as a great lifestyle opportunity, but a growing number of UK first-time buyers looking overseas are more interested in sidestepping Britain’s challenging property market than the lure sun, sea and sand. The UK market is struggling, but remains out of reach for many would-be buyers. Exhausted by trying to scrape together the funds and second guessing the market, first-time buyers in their droves are turning further afield to satisfy their property investment aims.

Most buy to let, while remaining as tenants in the UK, hoping that the money they make on rental can be ploughed back into a deposit for a UK property. Around half of first-time buyers now say they would buy abroad to be able to get on the property ladder, according to financial comparison website, Fairinvestment.co.uk. The number of new buyers prepared to think globally about property has doubled in just 10 months, the site suggests. “First-time buyers are being driven to sunnier climes for a route onto the property ladder as a result of the credit crisis which has been shaking the foundations of the UK property market,” says James Caldwell, director at Fairinvestment.co.uk.

Source: independent.co.uk

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