UK buyers have recorded a giant leap in interest in purchasing property overseas.
According to the March confidence tracker published by the Worldwide Property Group, 75% of respondents believe that now is a great time to buy homes abroad.
The vast majority of those surveyed are actively looking at purchasing property overseas, predominantly in the United States and Spain.
These two countries were among the worst hit by the global property downturn. The fact that UK investors now view them as desirable suggests that they believe the worst has now passed, and there are bargains to be picked up, despite the relatively weak pound.
The survey results demonstrate a continued high level of confidence in the domestic property market, with 81% of respondents believing UK house prices will either stay level or increase this year.
Looking at property overall, 78% of people surveyed think bricks and mortar make for the most solid medium- to long-term.
Kevin Wilkes, managing director of the Worldwide Property Group said:
“Property in many of the worlds regions offers tremendous investment potential and the public are starting to realise this.
“As low travel costs and new technology continue to make the world a smaller place, investing in far flung countries has become increasingly easy.
“Many who would have previously only considered purchasing in their immediate locality are now more confident and comfortable with buying abroad. We are seeing a situation where confidence in overseas property is almost as high as purchasing in the UK, and with very good reason.”
