Investors look further afield
Property investment abroad: 28 May 2008Property buyers from the UK are increasingly looking outside Europe, it has been revealed.
The Metro stated that a growing number of British people are looking to generate wealth by investing in a foreign property.
However, the newspaper said the credit crunch has affected the markets in many traditional second home markets such as Spain.
This has led to more and more prospective buyers looking for better value opportunities further afield.
African countries including Egypt and Cape Verde were said to be especially popular, along with places including Brazil and Bulgaria.
Commenting on this trend, the Metro said: "Other countries are overtaking the traditional second home markets of Spain, France and the US."
The publication added that less-established markets have a better chance of gaining value in the short-term.
According to A Place in the Sun Live, many British people spend their holidays looking for potential property purchases.
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