Millions of Brits 'eye foreign holidays'

Date: 23/09/2008 13:15

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More than three million people are currently considering buying a property abroad, Cater Allen Private Bank has claimed.

Figures from the group indicate that of this number, who said they were likely to purchase a home overseas within the next two years, 42 per cent said they viewed doing so primarily as an investment opportunity.

Those who do decide to move abroad will join more than 2.3 million Britons who currently own an overseas property, 500,000 of which are primarily used as an investment vehicle.

Commenting on the statistics, Sally Watts, marketing manager at Cater Allen, said: "With concerns that a deteriorating property market will not guarantee the returns that people expect from buying a property, more and more people are investigating how they can find investment returns elsewhere."

Earlier this month, AXA also suggested that the current emigration trend looks set to continue after it recorded a significant increase in the number of people enquiring about overseas private medical insurance.

InsureandGo offers competitive travel insurance options for those planning a trip abroad.

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