New research from Oxfordshire based property Investment Company, the Worldwide Property Group, shows that interest in buying property overseas has now tipped the balance versus that of property in the UK, with 67% of respondents saying it is a good time to make a foreign investment and 65% actually considering doing so.
Interestingly, countries which generated the most responses were the USA, which has been a firm favourite in the survey for a number of months, as well as Turkey and then Portugal.
According to a new city tourism index developed by MasterCard Worldwide, Turkey appears to be the latest ‘hot-spot’, with tourist volumes in Istanbul having surged 30% making the Turkish capital the fastest-growing tourist destination in the world, generating an estimated $10.2 billion in 2011 so far.
For Portugal, its close proximity to England, Spain and France still makes it extremely popular with tourists who can take advantage of low-cost airfares.
As a result and so the country is generating greater appeal for investors looking to scoop a deal.
Kevin Wilkes, Managing Director of the Worldwide Property Group says:
“It’s hardly surprising that investors are looking beyond the UK for places to invest. Many overseas regions are providing very strong potential returns, the USA being a prime example. The UK has always been a great place in which to invest in property, and will continue to be so.
"But with some incredible potential for property investment overseas mixed with increasing ease of purchasing a foreign property, people are finding they have much greater choice, and the UK now has some strong competition.
“Whilst respondents’ interests have slightly shifted this month to overseas, confidence in property as an overall investment still remains high with 67% of respondents opting for it as the best investment over gold, shares, currency and savings.
"It’s also great to see respondents considering new counties to invest and achieve a great return.”
