A survey by fairinvestment.co.uk has revealed that nearly 50% of Britons said they would consider buying their first property abroad, and 8 percent had already done so. A similar survey last year revealed that 25% of Britons would consider buying their first property abroad, and the 25% rise is excellent news for the U.K. overseas property industry.
Property abroad is becoming even more popular, not least because of the people who can't get onto the property ladder, and who buy a property abroad to use the rental income to increase their buying power back home, and/or to use the lump-sum from the profitable resale as a down-payment, or towards paying off their mortgage.
With the credit crunch and UK property prices now falling, you could say that this soon won't be as necessary, but another consequence of the credit-crunch is that it is making mortgages harder to get in the UK, which means buying property abroad will remain a necessary part of some people's path onto the property ladder.
Another big advantage property abroad now has is the fact that profits are proven. I can give examples of Goa properties we sold last year, that are now on the secondary market, and selling for over 40% more than they were last year. Of Thai island Koh Samui properties selling at the end of last year for 100% more than they went for at the end of 2005.
And with investment banking reports that emerging markets will continue to grow strongly throughout global turmoil, because of India and China's need to buy bulk basic materials at low prices, which they buy from the new emerging markets, property abroad has a bright future, a rarity in the present world.
Property abroad has another string to its bow: the security of putting your money into bricks and mortar. Stocks and shares are fine when they are doing well, but they can go from being worth millions of pounds, to not even being worth millions of pence overnight. Property cannot do that. So, if you buy property abroad to make a profit, and you do that's great, but even if you don't you are unlikely to be hurt too badly by it, of course assuming you have chosen carefully in the first place.
Of course, if you buy a property abroad as a holiday home only, then you have nothing to worry about as it will almost definitely be a nice nest egg for those you leave behind, or to pay for kids college fees etc.
So there you have it. In the face of global economic uncertainty and credit crunch anxiety, property abroad continues to grow in popularity, and remains one of the most profitable forms of investment in the current climate.