Foreign Currency Direct: Brits playing it too safe when buying property abroad

21 June 2007
British people buying property abroad are opting for their favourite holiday spots rather than countries offering good investment opportunities, according to research from Foreign Currency Direct.

Foreign Currency Direct, who provide best buy currency for homes abroad, asked 2,315 people which country they thought was the best place to buy a property, and the results showed that most Britons are going for places like Spain and France rather than places like Morocco, Hungary and Poland, which offer greater potential returns.

There are currently 5.5million people British people living abroad, and each year, 25million of the 61million Brits taking holidays go to France and Spain, so it is not particularly surprising that many are opting to buy homes in their chosen holiday destinations.

But Peter S Ellis, C.E.O. of Foreign Currency Direct. says that Brits looking to buy abroad are not fully considering their options, and wants to encourage anyone thinking about buying a holiday home to be a bit braver and think about investing somewhere like Morocco, Hungary, Cape Verde, Montenegro or Poland.

“There are so many more lucrative investment opportunities that could be made if the British public invested in properties in lesser unknown and up-and-coming destinations rather than in the traditional Spain and France,” he said.

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