First time buyers 'increasingly' opt for overseas investments

16-Mar-2007

First time buyers in Britain are increasingly opting for overseas property investments as a way of raising funds for a deposit, an expert has claimed.

According to Helen Adams from FirstRungNow, as salaries are now failing to match the pace of Britain's rising house prices, first time buyers are increasingly looking at foreign property purchases as a way to raise capital.

"More and more research was coming out saying that people were considering [overseas property purchases] because they can afford the mortgage … in addition to their rent," said Ms Adams.

"It is definitely growing," she added.

Indeed, it would appear that cheaper locations such as Turkey and Romania are the most popular with first time buyers.

To find out more about buying a property abroad to get onto the property ladder click here.

Established in 2003, FirstRungNow offers help and advice to first time buyers.

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