Buying abroad ''new property trend''
The latest trend is to buy a property abroad and to see it as an investment for your retirement, according to one expert.
Liam Bailey, head of residential research at Knight Frank property consultancy, says that the key reasons for buying a property or a plot of land with which to self-build are pure investment plus lifestyle choice.
"There are those people who are buying for a bit of a lifestyle: either to use in the interim as a holiday home and then with an eye to retirement, or potential downsizing in the future," said Mr Bailey.
He explained that people often by in urban areas and cities abroad so that they can take lots of weekend breaks and short-break holidays. Places like Barcelona are particularly popular for this sort of activity.
However, many foreign investors are also looking at investing in the UK because of the low outlay, limited land mass and the very low risk involved.
The robust English legal system also means that there is no contesting of title when you purchase so it is a more stable place to invest.
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