International Property Investment News

Foreign property enquiries up

An increasing amount of Brits are interested in investment property overseas, according to a new report from financial services company Baydonhill.

The firm surveyed a number of independent financial advisers (IFAs), over half of whom replied that they were increasing their knowledge of the foreign property sector as enquiries rose.

The Baydonhill study revealed that enquiries relating to overseas property have increased by 30 per cent in the last twelve months.

Fiona Watts, head of mortgages at Baydonhill, told CityWire that financial advisers would find themselves ever-more occupied with advice concerning housing in popular investment destinations such as France, Spain, Italy and Portugal.

"The 30 per cent upturn that IFAs are seeing should only increase over the next few years," she commented.

"Overseas buyers are starting to realise that there are now reliable sources of information on investing in overseas property out there other than the traditional banking routes.

"Advisers stand to make good commissions on this business if they can demonstrate knowledge and experience of the complexities of buying overseas."

Overseas rental yields were found to be the most common enquiry area, with 53 per cent of IFAs reporting interest from clients in this sector.

Some 27 per cent had advised on remortgaging overseas, while 13 per cent had been asked about bureaucracy in other countries.