Second property abroad for Brits is favourite France

A new report published has stated that Spain has been overtaken by France as the second property abroad for Brits and overseas destination to invest to. Homeaway.co.uk and Savills propertytalklive report has suggested that the economic climate and stable property market in France has created a low fluctuation in housing prices and a safe market to invest to.

Primary factors effecting many UK property investors choice are factors such as proximity to major infrastructure such as airports, bars, beaches etc. Furthermore the type of property bought in each individual country has varied throughout the years. In Italy and France buyers have typically tended towards purchasing tradition styled properties in comparison to the modern deluxe property ventures in Spain and Cyprus.

In areas where prices are thought to have bottomed-out, most notably in selected US locations, investors are now looking at high yield potential and capital appreciation opportunities that will come with recovery. This demonstrates that appetite for investment has not disappeared.

Research analyst at Savills International Rebecca Gill stated that: “Clearly, holiday home owners and tourists share similar preferences for overseas properties. Strong underlying “lifestyle demand” for a property helps to support an investment case. It is these fundamentals that drive longer term capital appreciation and attract rental income.”

photo:flickr/villasfor2