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Euro's struggle leads to overseas opportunities

Euro's struggle leads to overseas opportunities
Euro's struggle leads to overseas opportunities

Whether you are looking to purchase an investment property abroad, or want to up sticks and move abroad full-time, there is plenty of opportunity just a short plane ride away in mainland Europe. KentHomes reports.

With some economists predicting the pound will pull further ahead of the euro, now may be the perfect time to snap up homes in the eurozone.

The latest Lloyds TSB International Wealth survey has estimated that the volume of wealthy Brits who move overseas is expected to increase over the next two years, with a growing number seeking a new life in Spain.

According to the survey, about 19% of people with savings and investments over £250,000 are considering moving overseas, an increase of 17% from six months ago and 14% from a year ago, with new figures from the survey proposing that more than half of these individuals could move overseas by 2014 in search of a better lifestyle.

With many Brits looking set to vacate the UK, stating that they would only reconsider if Britain reduced taxes, cut regulatory red tape for businesses and upgraded public services including healthcare and education, Brits moving overseas over the next two years will certainly increase the demand for homes abroad, particularly in the forever popular location of Spain.

When it comes to buying to let, or for an investment, buying property on or near a golfing resort seems to be a good bet.

According to the latest Golf Travel Insights report from accounting firm KPMG, 60% of golf tour operators experienced an increase in the number of golf holidays booked in 2011, compared with just 38% in the previous year, highlighting a welcome boost to the golf tourism sector.

Using feedback from 90 golf tour operators in 35 countries, the survey, published by KPMG’s Golf Advisory Practice, identified that Spain and Portugal continue to be the most popular golf holiday destinations, while the UK, Ireland, Turkey and Thailand follow behind.

Meanwhile, the weaker euro is providing good opportunities for house hunters looking to invest in France, according to French property specialist Sarah Bogard, a partner with leading South East law firm Furley Page.

France continues to be one of the most popular places for overseas property buyers – a fact borne out by the number of visitors who packed the French Village at the recent A Place in the Sun Live exhibition at London’s Earls Court.

Ms Bogard, whose free seminars at the show were so popular it was standing room only , said: “We met a huge number of people who were planning to move to France or buy a holiday home in the near future.”

According to Halo Financial, a currency specialist firm which sponsored the show’s French Village for the fifth consecutive time, potential investors are seeing their buying power increase in France for perhaps the first time in three years.

Their message at the show was that timing is key if you want to take advantage of volatile but improving rates, and a reliable and experienced currency specialist is a real asset with large cross-border investments.

Further cuts to the Euribor rate (the base rate governing variable-rate mortgages in Europe) have brought more good news for anyone thinking of buying a property in France, as French lenders have been quick to pass the cuts on to borrowers.

Ms Bogard added: “Low interest rates, easy access from the UK, stable residential market conditions, and a good choice of quality properties are making France an increasingly attractive investment option for British buyers.

“The fact that the euro has become weaker against the pound also means that you can get more for your money at the moment.”

For further information on buying in France, email Sarah Bogard at seb@furleypage.co.uk, call 01227 763939 or visit www.furleypage.co.uk

Picture above shows : Two-bedroom apartments are available at this Taylor Wimpey Spain development, La Floresta, Elvira, on the Costa del Sol. The development has two large communal swimming pools, landscaped gardens and private parking. Two-bedroom properties are available now from 178,000 euros. Ring 0800 012 1020 or visit www.taylorwimpeyspain.com for more information.

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