Aspiring homeowners buy to let abroad

10-Jan-2006

Aspiring homeowners are purchasing more properties in Spain, Portugal, France and Bulgaria, as the prices are more affordable than in the UK.

To find out how to get onto the property ladder by buying to let somewhere else click here

Recent research shows that more first time buyers than ever are jetting off to foreign countries to purchase a house, using the property for buy to let purposes and benefiting from the rental yields.

Published by property developer Oceanico Developments, the report indicates that a lack of affordable housing options in the UK is to blame, along with the lower cost of houses in Europe and the availability of regular budget flights.

If you are interested in buying a new house within a 'gifted deposit' scheme whereby you don't need to come up with a deposit but just pay a nominal fee of £5000 click here

Figures revealed that over half of potential homeowners between the ages of 18 and 29 would consider buying abroad in the future, while two-thirds said that it may be their first home.

"It's an investment which will grow over a few years and give people enough money to out down a deposit on a property at home," explained Bryn Thompson, managing director of Andalucian Homes.

However, Mr Thompson warned first time buyers to be careful when choosing an investment and advised them to seek expert advice before purchasing a property in any country.

For our first time buyers guide to buying a property click here

To ask about the legal costs of house-buying or to ask a legal question specific to your own situation click here

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