Property buyers consider long-haul destinations
Poor exchange rates between the UK and Europe are prompting many property buyers in Britain to look further afield, according to experts.
Currency specialist HiFX revealed that interest in purchasing property in traditional markets such as France and Spain is waning as a result of the weak pound.
This has led to a growing number of prospective buyers looking to countries which offer better value for money, including long-haul destinations.
Brazil was highlighted as one of the most popular markets, as it offers both financial and lifestyle attractions.
HiFX commented: "This new focus is driven by investors on the look out for the next property hotspot, rather than wannabe holiday home buyers."
The firm added that in the last two months, the number of enquiries into buying property in France and Spain has dropped by 11% and 12.5% respectively.
This comes after FC Exchange said property buyers in Britain are still looking at possible opportunities overseas as a result of the "turmoil" in the domestic housing market.
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