Greater interest in overseas property investments

Wednesday, July 27, 2011

Greater interest in overseas property investments

More Brits would rather invest in properties abroad rather than in the UK, according to research conducted by the Worldwide Property Group.

A survey conducted by the UK-based property investment firm found that interest in buying property overseas is now preferred to that of property in the UK, with 67 per cent of respondents saying it is a good time to make a foreign investment and 65 per cent actually considering doing so.

Property in USA generated the most responses, followed by property in Turkey and then property in Portugal.

Worldwide Property Group highlights the Turkish capital of Istanbul as offering particularly good property investment opportunities, on the back of soaring tourism levels.

The new city tourism index developed by MasterCard Worldwide shows that tourist volumes in Istanbul having increased by 30per cent so far in 2011 compared to the same period last year.

Kevin Wilkes, Managing Director of the Worldwide Property Group says: “It's hardly surprising that investors are looking beyond the UK for places to invest. Many overseas regions are providing very strong potential returns, the USA being a prime example.

“With some incredible potential for property investment overseas mixed with increasing ease of purchasing a foreign property, people are finding they have much greater choice, and the UK now has some strong competition.”

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A Place In The Sun