With much of the media reporting on the benefits of buying property in eastern European countries such as Bulgaria and Romania, it has been found that countries such as France and Spain are proving just as popular for holiday homes.
Research from FX Property has shown that countries including France, Spain and Portugal are still proving just as popular as they did five to ten years ago.
The most popular country for British residents to purchase overseas homes in remains Spain, followed by France. Bulgaria and Romania entered the top 10 holiday home locations for the first time last year.
With house prices soaring in the UK, many British people, including first time buyers, are buying homes in foreign countries due to the reasonable price tags upon these properties.
Many first time buyers are finding it easier to get international mortgages for overseas property as the prices are cheaper - in turn requiring smaller deposits than property in the UK.
As overseas homes are more affordable, first time buyers do not need to purchase property with the support of anyone else. Many may also be able to generate income from their overseas investment.
According to FX Property, this could be one of the driving factors of the overseas property boom.
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