Britons 'want European holiday homes'
Property investment abroad: 10 June 2008Many Britons looking for overseas property are opting for holiday homes in nearby European countries.
The reason for this is that most wish to have easy access to their homes in the sun via cheap, frequent flights, according to BuyAssociation.
Recent figures released by Rightmove Overseas show that the favourite search among their customers is for properties in Spain.
Among the top five, only the US is a non-European country, while the top ten only features two others, Australia and New Zealand.
Paul Collins, property editor at BuyAssociation, said: "[Investors] are going to chose somewhere they are happy to go to on holiday and spend the next 20 summers, so they can go out and enjoy the property they bought overseas."
According to research from DataMonitor, British and Irish investors hold 3.81 million properties overseas - a figure which is expected to double in the next five years.
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