Inside Track

Inside Track

October 18, 2006 08:59 ET

Window Shopping Britons Spend Hours Looking At Homes Abroad

But be careful when making the move, advises UK's number one property investment specialist

LONDON, UNITED KINGDOM--(CCNMatthews - Oct. 18, 2006) - British holidaymakers have spent almost 22 million hours(i) in the past two summers gazing into foreign estate agent windows in search of the perfect property, according to new research released today.

The 'Holiday Habits' study was commissioned by property investment specialists, The Inside Track Group. Results show that 45% of UK adults venturing out of the country for holidays each spend an average of one hour and 25 minutes looking at local listings for houses and apartments for sale.

The Inside Track Group reports that around 2.2 million(ii) UK nationals already own somewhere abroad, and many more who journeyed overseas this summer are seemingly set to join them. Countries in Western Europe and the USA(iii) are the most popular holiday destinations for Britons, indicating likely choices for homes abroad. The top five are:



1. Spain (30%)
2. France (18%)
3. Greece (7%)
4. USA (5%)
5. Italy (5%)


Such interest in foreign property investment has prompted The Inside Track Group to publish its 'Top Ten Tips' for buying abroad, to help British investors avoid potential pitfalls.

"It is clear from the results of our study that actually being in a foreign country makes the idea of buying property there much more appealing," says Inside Track Group chief operating officer Anthony McKay. "Two in five (40%) of the people we spoke to said being away had made them think more seriously about investing in a property abroad, and that's encouraging as it can provide a very good return on investment.

"What people must remember, though, is that the process can be very complicated, and a good deal of preparation must be done before parting with any money. It's not simply a case of finding somewhere in the estate agent window and buying it. Our guide to investing in property abroad will show buyers exactly the right process for finding that place in the sun and make sure they cover all bases to secure a sound investment.

"Research is definitely the key to making a success of property investment. Our 'due diligence' process incorporates assessing many different variables - such as the political situation, transport infrastructure and the legal environment of each country we examine. This is just for starters - there are vast amounts of things to consider before parting with your money."

The Inside Track Group's 'Top Ten Tips' for buying abroad are available to download at www.iaprops.com.

Ends

(i)Figure based on 45% of British adults who have holidayed abroad in the last two years (69% of 48,843,000 total UK adults - ONS figure), ie:
0.69 x 48,843,000 = 33,701,670
0.45 x 33,701,670 = 15,165,751
1.42 (hours - average time spent) x 15,165,751= 21,535,366 hours in total
(ii)Taken from a Barclays report, November 2005
(iii)According to most recent Office for National Statistics figures (Holidays Abroad; 2003)

Anthony McKay is available for further comment.

About the Inside Track group

- The Inside Track group is the UK's leading property investment specialist, employing more than 267 people in Britain and abroad. It offers a full 'one-stop-shop' service for property investors:

- Inside Track Seminars runs two-day intensive seminars on property investment
- Instant Access Properties provides access to highly-vetted and heavily discounted investment properties in the UK and overseas
- Fuel Investments is a specialist mortgage intermediary providing expert investment financing assistance
- Aftercare Solutions provides bespoke management services for the buy-to-let investor including sales, letting and management, landlord protection insurance and a variety of furnishing solutions.

- More than 60,000 people have attended Inside Track's free introductory workshops and 24,000 have been educated through the two-day intensive seminars.

- Instant Access Properties has more than 7,200 members and has sourced more than GBP 550m in quality residential property over the last 12 months. Instant Access Properties members have consistently been the largest buyers of new build property in the UK, Florida and Spain investor markets.


Contact Information

  • Teamspirit PR
    Sam Holl or Jo Misson
    0207 438 9400