UK Landlord Forum / Life

Brits cash in on overseas property boom

The number of British holiday home owners downsizing or selling their place in the sun and repatriating money to the UK has doubled in the last year according to currency specialists HiFX.

This year has seen the most dramatic increase in the numbers of people bringing money back to the UK as the first wave of the original baby boomers who bought overseas are now choosing to downsize their foreign properties as they get older.

Mark Bodega from HiFX comments: "The overseas property market really took off about 20 years ago when the first tranche of Brits started looking for their dream home in the sun; particularly in France and Spain. According to our figures it now seems that these people are either downsizing to smaller properties or selling their holiday homes now that their families have grown up and are sending money home; only to be replaced by a whole new generation of buyers."
Bodega continues: "France and tenerife Spain were the first overseas investment property spain markets to truly mature and people buying there have matured with them – this is the first time that we've really seen the impact of an ageing holiday home owning population."

Ye good post, this is why the ass in small investment in Spain has fallen through the floor, most brits starting buying back in the late 80s early 90s,  Was cool back then with most opting for the tranquil views and healing air around the salt lakes of Torrivemarmalade etc etc, golf was the sport and Spain was an affordable place for brits to buy into the golf culture and live the life off a rich man living off salad and bear all for as little as £15.00 a week.  The sun and sea and the option of the good life for a small price sure is a rag to a bull.
Unfortunately people didn't realise or forgot that humans get older and at some point during there life they need medical attention, when you cannot find or you get it for a huge price, the UKs health service looks very very welcoming and people head home, its always nicer to be ill at home rather than overseas.
Ok I said at the start of the post small investment,  it would be nice to see what the data is for the person who buys the above average price investment in Spain etc, the proper rich man/lady who's health care is with private British speaking care staff overseas.  Cos i know 3 who have been in Spain now for well over 25yrs and still loving it, i also know of at least 4 of us average people who have returned.  Interesting subject and imo as always.  But saying this i am also well aware that there are Brits overseas who love the life regardless of how much money they have



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Investing abroad seems to be the way forward. Unfortunately I just don't have the time to invest abroad right now.

Also, it's probably a lot of hassle to manage property abroad, especially when things go wrong...

Invest yes a good idea, but to live, i think you need to be minted !



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