British investors shun domestic market
Property investors in the UK are shunning the domestic market and choosing to buy homes overseas, according to industry experts.
ShelterOffshore.com cited a recent report by PricewaterhouseCoopers which revealed that investors would be better off avoiding Britain due to declining economic conditions.
However, the website said that this was not completely putting people off the idea of buying a property, as many are opting to invest overseas instead.
The online portal remarked: "A number of Britons who formerly owned homes in the UK are finding that they can get more for their money if they rent in the UK while investing in property abroad."
ShelterOffshore.com said this is proving to be lucrative to foreign property owners, as they can collect the proceeds of rental income and capital growth.
In addition, the website said that a residence overseas could also serve as a "lifestyle enhancement".
This comes after the Telegraph stated that factors such as high house prices in Britain have prompted some younger people to look at entering cheaper markets overseas.
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