First time buyers 'consider' buying abroad

16-Nov-2006

First time buyers are increasingly making their first housing purchase abroad, research suggests.

According to a study by Real Estate TV, first time buyers are increasingly considering purchasing a buy-to-let property in countries such as France, Spain and Bulgaria, reports About Property.

A one bedroom apartment in Bulgaria can be purchased for around £25,000.

"Buying abroad has never been such an attractive proposition for first time buyers," said Mark Dodd, managing director of Real Estate TV.

"With the average first time buyer being in their 30s and deposits likely to be in the region of £33,000, compared to £5,000 a decade ago, buying abroad can be the only way to get on the property ladder," he added.

However, any decision to purchase a property abroad should include the long-term prospects for future growth and the stability of the political system, according to Sarah Beeny, speaking to 4Homes Magazine.

First time buyers looking to become foreign landlords should not invest any money that they cannot afford to lose.

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

For advice on first time buyer mortgages or to find out how much you can borrow and how much it would cost you, contact a good mortgage broker.

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