Affordability problems in the UK could be providing a boost to the overseas property market, an expert has suggested.
Beth Collingz from Pacific Concord Properties said that since many young people could not afford to buy a property in Britain, some were opting to invest in homes abroad instead.
She stated that these people were continuing to live in rented accommodation in the UK, while saving the money generated from rental income.
The total gained from tenants, holidaymakers and the capital appreciation of the building could then be used to make up the shortfall in Britain and allow them to buy a home or flats.
Ms Collingz commented: While land and housing prices in the U.K. have soared astronomically in the past decade, the world real estate market is a far different story.
The average property in the UK now costs about £225,100, making it more expensive than countries such as Spain and Italy.
Let's invest mates!
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Mallorca properties are now becoming very popular these days…Correct pricing can make up for a lot of negative factors. Sellers have to realize that in todays market price is key.Spanish property market in realestate industry is one of the most demanding destination worldwide.I want know some more details about it.I think this will help me a lot to proceed me. I am waiting for your response.
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