British overseas property buying still booming, research shows

Published on: 07/01/2008

New research by the National Association of Estate Agents (NAEA) has indicated that interest among Britons in buying overseas property has been increasing in recent months.

The organisation quoted Robin Haynes of Foreign Currency Direct, who said: “Overall we saw an 8.2 per cent increase in the number of overseas property transactions in the fourth quarter of 2007 compared with 2006.”

Mr Haynes said two markets poised to do particularly well in 2008 were Spain, where the British “love affair” with the Costas was still ongoing, as well as Florida, where the falls in American property prices and the weakness of the dollar against the pound made the cost very attractive.

Recent figures from the National Association of Realtors in the US have shown that Florida is the most popular state for overseas investors.

It stated that 21 per cent of the international investors have come from Britain.


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