Overseas Property Research by Barclay Bank
New research commissioned by Barclays shows that an incredible 37% of the UK population is considering buying property abroad; 5% are definitely planning to do so. If 5% do buy, this will double the number of Brits owning property overseas.
France is the third most popular destination (14%) just behind America (15%) with Spain leading the way (30%).
Before the dream, people recognise the reality.
- 58% are concerned about getting caught out by local legal or tax issues.
- 17% are worried about keeping the property secure.
- 14% are concerned about being able to understand the local language well enough.
All of these factors contribute to the 8% who are worried about being taken for a ride and paying too much for a property.
Fears about the law, the language, the security, and the confidence may prevent UK buyers from realising their dream.
This survey is encouraging and I hope that from your side you can help show that we here at Verde Property can offer a service that is exactly what the UK public is looking for.