Brits buying abroad increases

According to a new study from the Department for Communities and Local Government (DCLG) the number of English people buying a property abroad has risen by more than 60% from 129,000 in 200/2001 to 211,000 last year. Some 60% of these buyers are aged between 45-64 and interestingly only 38% of people in this age group own a property in England. This is consistent with the fact that 54% of second home owners say their main motivation for buying was to own a holiday or retirement home.

“At Olive Tree International we specialise in overseas property investment”, says Richard Brady, Director “so we do have a good working knowledge of the growing increase in business. However, whilst such surveys are useful in terms of buyer trends, age groups, funding patterns etc figures do vary tremendously.

For instance the Office of National Statistics claimed in 2005 that it was 257,000, a study by Grant Thornton and Lombard Research said in 2006 that it was 300,000, Mintel said 800,000 in 2006 whilst a poll by ICM for Barclays claimed overseas ownership was 2 million in 2005.

What the figures do show however is the continuing and escalating interest in buying abroad and not just in established countries such as Spain and Italy but also in new areas such as Bulgaria, Cape Verde and Bahrain which have also proved very popular in recent years.”

Olive Tree International is based in the UK but has skilled professional staff world wide seeking out exceptional investment opportunities.

The company looks to provide everything from an apartment or villa at a popular resort in Spain to speculative purchase of land without planning in Mexico. Olive Tree can provide assistance and advice to those looking to make a one off purchase or to those wanting to build a balanced portfolio to act as a pension or second form of income.

Currently available and offering some excellent opportunities for capital growth and rental return include –

CRETE – Off plan apartments from £71,121/98,000 euros with bungalows from £172,415/240,000 euros. 70% mortgages are available.
Good investment – new airport currently under construction will provide easy access to this currently rather remote and beautiful coastline. Area expected to grow rapidly in next few years.

ITALY – 42 apartments in Tuscan Hills. Prices from 120,000 euros/£82,000 Mortgages available up to 60% each unit.
Good investment – Italy has reported a healthy market with average growth of 9% pa for past three consecutive years.

CAPE VERDE – 840 units. One bedroom and two and three bedroom townhouses from 92,000 euros/£68,710.
Good investment – Property values have grown at 35% this year and more is anticipated as interest grows.

BAHRAIN- Three bedroom apartments and penthouses. Adjacent to Persian Gulf.
715 Bahrain Dinar/£961/1,288 per square metre
Good investment – Excellent discount for “early doors”. Business rental superb with up to 70% ex pat population. Prices have risen by 35% each year over past three years.

For further information, visit olivetreeeworld.com.