Brits with property abroad 'stand to make up to 22% profit'

Monday February 2nd , 2009

British property investors can take advantage of the weak pound by selling their properties abroad, it has been claimed.

According to exchange specialist Foreign Currency Direct, those with property abroad could make up to 22 per cent profit simply by selling their property at the same price they bought it at.

Peter Ellis, the group's chief executive, told the Herald: "We have noticed a significant increase in the number of our British clients selling property abroad, with many willing to significantly discount the sale price of their property in order to secure a sale.

"UK owners of foreign property can now afford to drop the value by as much as 22 per cent and still regain more sterling than they originally invested in the property."

People looking for a second home where their investment is safe should consider Turkey, it has been claimed.

According to Tracy Ogretici, of Elite Homes, construction of new airports, marinas and golf courses, along with Turkey's position outside the euro zone, mean it is a good choice for investment.
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