Saturday, 10 March 2007
BARBies are new Overseas Investors
Almost 40% of young people would consider buying abroad as a first step to getting on the property ladder. Known as BARBies (Buying Abroad, Renting in Britain), these are the new group of investors who are making their mark on the overseas investment market.
The research, commissioned by Hiscox, identifies the main reasons for turning to overseas property are the excessive house prices in the UK and the rising level of interest rates. Buying abroad is seen as an affordable option which can provide both rental income and a holiday home.
Steve Langan, UK Managing Director at Hiscox, says: “More young people than ever before are finding their route into the UK property market blocked and are turning to overseas property investment as a more affordable and potentially lucrative investment option."
Murcia and the Costa Calidá property prices are still lower than many coastal areas of Spain, ideal for first time investors and home owners. At Dream Spain we can help you arrange a Spanish mortgage and find the ideal property investment.
