British Expats Favor Property Investment On Familiar Turf

By Editorial 14 April, 2014

A survey of British expats, commissioned by Lloyds Bank, has found that 43 percent of respondents say they are "quite likely or very likely" to buy a new investment property within the next two years, and that just over a quarter of these buyers are seeking property in the UK.

The Director of International Banking at Lloyds, Richard Musty, said that the results reflect strong confidence in the UK property market. 38 percent of respondents who said they were likely to buy indicated that they wanted a regular income from tenants, and Musty said that those who made a UK purchase stood to benefit from high rents combined with a weak pound.

The survey also found that 71 percent of respondents who currently have property to rent out in the UK have tenants the whole time, while this was the case only for 47 percent of those with rental properties elsewhere.

While the UK was favored as a location for purchasing property by 25.8 percent of respondents, Australia came a close second with 24.7 percent. The USA, in third place, was described as attractive by 15.1 percent, followed by Canada with 8.2 percent, and Spain with 6.8 percent. The percentages were based on a sample of 279 respondents, selected from a base of 1,039 who said they were likely to make a property purchase.

The survey drew on expats living in Australia, Brazil, Canada, France, Germany, Gibraltar, Hong Kong, New Zealand, Singapore, Switzerland, Spain, the United Arab Emirates (UAE) and the USA. Expats in the UAE, France, and Switzerland in particular said they were likely to buy UK property.

Tags: Australia | United Kingdom | Canada | Spain | United States | Expats | Investment | Property Investment | Invest | Investment |


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