Different destinations for those emigrating and borrowers buying holiday homes
Investors looking to purchase property abroad to use as a holiday home seek out different destinations to those who are considering emigrating.
That is according to overseas property advice site BuyAssociation, which has said that Europe is a top destination for holiday homes, whilst émigrés tend to travel further.
Paul Collins, property editor at BuyAssociation, said: "When you are looking at emigration then you are looking at a different set of criteria and you find a lot of people will go to different areas like Australia, New Zealand and Canada are all emigration favourites."
Mr Collins explained that those looking for holiday homes will look at places such as Florida, the Caribbean and maybe North Africa but only after considering Europe first.
Florida is particularly popular because of "the strength of Sterling against the US dollar".
The NatWest Quality of Life Report has revealed that in 2006 over 200,000 Britons left the UK to live abroad partly caused by strong economic growth pushing UK property prices beyond the reach of some borrowers.
Overseas Property News posted on 12/06/2008 12:33:06
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