Europe still popular for investment

As homeowners and first-time buyers lose confidence in the UK property market, industry experts advise that overseas property investment in Europe is still a popular option.

Buy Association, an overseas property advice website, has said that consumers are keen to use property as both an investment and a holiday home, which makes nearby European locations popular.

Paul Collins, property editor at BuyAssociation, said: "Most people are part time investors and they want to use the property themselves. In that case they are going to chose somewhere they are happy to go to on holiday and spend the next 20 summers."

The culture, economy and proximity of western and southern Europe all add to their appeal, according to BuyAssociation.

Recent research from Datamonitor states that British and Irish investors currently own 3.81 million properties overseas and anticipates that the market is expected to double in value between now and 2012.

Datamonitor's figures show that estate agents predict the overseas market will grow by 13 per cent annually over the course of the next 5 years.

Overseas Property News posted on 10/06/2008 12:35:15