More Brits buying abroad 'will be cash buyers'

Friday December 19th , 2008

Most British people buying property abroad use cash, a survey has shown.

According to a survey from Barclays Bank and Homes Overseas magazine, 43.1 per cent of people planning to buy property abroad said they would be buying with cash, which was by far the most common response.

Travel website shelteroffshore reports that the result show the keenness of Brits to invest abroad.

It adds: "There has never been such an opportunity and real case for buying a property abroad as now."

The reason given for this optimism is that property prices in even some of the most desirable locations are plummeting.

Results for the most popular destination showed that evergreen favourites such as Spain, Italy and France came out top for the countries people most want to invest in.

Meanwhile, a couple who moved to Valencia, Spain, in 2007 have spoken of their love for their new home.

Speaking to the Sun, Kerry and Pete Pipkin said that there is virtually no crime, noise or pollution in their area.
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