Homes abroad doubles - 28/02/2007
A place in the sun has become even more popular with Brits.
Remortgage decreases - February News - Barclays wealthiest areas list
The owners of properties abroad has doubled as as many as 800,000 people have bought abroad. The figure has increased by 45 per cent since July 2004. It is expected that another 3 per cent of British households will take the plunge and buy abroad, many will have used the equity in their current UK property to pay for a cheaper home in the sun. Cheap flights to popular destinations have made trips easier and far more economical to make. Many of those with second homes in the sun plan to retire to them on a permanent basis but are happy to rent them out to holiday makers in the mean time.
The property abroad boom began in the 1990's and has reached the £30.9 billion stage with Spain as being the most popular choice for investors. France came in second place with 26 per cent and Australia came in third.
Remortgage decreases - February News - Barclays wealthiest areas list
