Britons 'take holidays in friends' foreign properties'
Many Britons are saving money by staying in overseas properties owned by their friends or relatives, according to a new study.
Research by Barclays found that holidaymakers from the UK were saving up to £4 billion each year by staying in free accommodation owned by people they knew personally.
More than four in ten respondents said they regularly holidayed at a flat or house abroad that was owned by someone they were acquainted with.
Meanwhile, 13 per cent of these people admitted to keeping the friendship going in order for them to have access to the property.
Richard Exton, head of Barclays Buying Abroad, commented: "It's great to see that the pleasure of owning a house or a flat abroad is being enjoyed by not only the owners but their friends and families too."
He added that the market was "flourishing" and that the firm had seen a record number of enquiries into buying property in Spain, France, Italy and Portugal.
Earlier this week, Moneycorp predicted that the number of overseas property purchases could rise by more than a quarter during autumn.
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