Britons favour established European markets
Overseas property buyers from the UK are continuing to favour purchases in other European nations, new research has found.
A study by HolidayLettings.co.uk showed that Spain and France were still the two most popular destinations among people with holiday homes abroad.
This placed it just ahead of other countries in Europe including Italy, Portugal, Cyprus and Turkey.
Holiday Lettings.co.uk also found that many people were not buying foreign properties solely to generate wealth, as they intended to use it themselves and let it out when it was unoccupied.
Commenting on the findings, Nubricks.com said: "The portal identified a shift away from the pure investment buyer towards what it describes as a mixed use investor."
According to the Office for National Statistics, about 848,000 people from the UK now own land or a residence outside Britain.
This works out to 2% of the UK population, although it does not take into account those people who have moved abroad on a permanent basis.
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