It has been estimated that up to 400,000 overseas properties are now owned by the British, while the total value of UK-owned foreign residential property has increased threefold over the past decade to £52bn. It also says owners are typically aged between 45 and 75, and looking for a seaside or scenic location. France and Spain are favourites with 56% of homes owned by Britons situated in one or the other.
In terms of value for overseas home, properties in Spain, Greece and Portugal have experienced the lowest capital growth most recently, but still at rates over 10% per annum. Outside of Europe, the USA and the Caribbean have experienced inflation of 12% and 22% respectively. In terms of future demand, France and Spain look likely to remain the most sought-after locations, other popular destinations being Italy, Portugal and the USA, as well as, to a lesser extent, the emerging markets of Bulgaria and Morocco.
