Over half of Britons think buying abroad is not a secure investment
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Version 0 of 1. Over half of Britons do not think that property abroad is a safe investment, despite the falling value of the euro making overseas property increasingly attractive. A survey of 4,581 British adults found conducted by UKForex using YouGov data showed that 55 per cent of Britons think that buying abroad is not a safe investment, while 23 per cent say that it is. Another 39 per cent said they were more concerned about investing property in Europe now, following the geopolitical events of the last year. Political instability is the top concern, cited by 50 per cent of those surveyed, while 33 per cent were put off by fear of the UK leaving Europe and 25 per cent were put off by the spectre of a Greek default. Last year data from the Office of National Statistics showed that two million people between the ages of 25 and 44 left the UK to buy property abroad in the decade to 2012. Britons are still cautious about buying property in the Eurozone A year ago, a property worth €180,000 would have set you back £150,000. This month, a weaker euro means that figure would be more like £128,000. Recent research shows that expats make more per month in Ireland than they do in the UK, but not as much as those in the US and Denmark. Switzerland is still far ahead as the place where expats have the highest average monthly disposable income in the world, at £4233 ($6301). “The pound is very strong against the euro right now, but that doesn’t mean we’ve all been caught up in a European buying frenzy. Today’s findings suggest the British are still cautious about committing to property in the eurozone, and need a better understanding of the market before they can take the leap,” said Jordan Tilley, head of UK and Europe and UKForex.
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