Savvy property investors renting at home |
25 2008 |
| Property experts are reporting the emergence of a new breed of tenant – the investor who buys a property overseas while renting in the UK. With property prices across the UK remaining prohibitively high for a significant proportion of people, many are simply opting for the convenience of renting at home while taking advantage of the profits to be made in the overseas property markets. Research recently carried out by the insurance firm Hiscox found that 40 per cent of young people would consider buying abroad, having given up hope of getting onto the UK property ladder, with 37 per cent of the under-35s questioned fearing that they will never own their own place. One investor told the website Landlord Expert: "Buy-to-let in the UK is the riskiest thing I've seen, so I am very happy to carry on renting in London. The money I would otherwise spend on owning a similar flat, I invest abroad." In addition, as the UK housing market shows no real sign of declining to any significant extent, this demographic of Barbies (Buys Abroad, Rents in Britain) looks set to increase, experts predict.  |
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