Britain snubbed as investors look to foreign markets

Date added: 4th September, 2008 at 10:00 (view all articles from September, 2008)

Categories: Property News

UK-based property investors are increasingly shunning the faltering domestic market and looking for opportunities overseas.

This is the conclusion of Investec Private Bank, which found that a growing number of top-end investors in particular are considering new foreign investments.

Andrew Arnott, spokesperson for the organisation, said this is because overseas markets are generally considered to be far more lucrative.

He commented: "High net worth individuals see them as representing a better investment opportunity."

Mr Arnott added that while many are buying houses with a view to generating extra income, some are also hoping to use their acquisition as a lifestyle property.

According to currency specialist HiFX, Brazil has recently been emerging as a very popular location among property investors.

Figures showed that the number of enquiries regarding the country during June was one per cent up on the amount recorded a month earlier.

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