UK property price recovery is good news for migrants

UK property price recovery is good news for migrants

UK property price recovery is good news for migrants

With British house prices soaring last month to their highest since 2010, would-be migrants are expecting more cash to buy their dream properties overseas.

Along with a recent survey indication that 48 per cent of Britons would leave the country if they had the chance, research into property prices has seen first-time buyers re-enter the market in droves. Figures from the Office of National Statistics have confirmed a significant hike in sales prices, and it all adds up to great news for those looking to move overseas.

Many Brits hoping to move abroad were forced to put their dreams on hold following the 2008 financial crash, as property prices dropped sharply due to a lack of both buyers and mortgage capital creating a stagnant market. At that time, property prices in popular destinations such as France and Spain were at all-time highs, putting paid to the possibility of purchasing a dream home outright.

Nowadays, the property market in Spain has fallen some 54 per cent, with real estate agents in the region considering a further fall is very likely, and French properties have suffered a similar fate. There’s plenty of choice now in both markets, and buyers with cash released trough the sale of a UK property can negotiate even lower prices.

Furthermore, many expats are fleeing France due to the government’s newly-established property taxes, and are desperate to sell their homes. Many expats in Spain are also preparing to leave, shaken by the Cyprus savings grab, and a huge number of new developments have failed to sell due to the Spanish property scandal.

Experts believe that the worst of the Eurozone crisis is receding and expect the EU’s economy to improve slowly but surely. It would seem that emigration is now back on the cards, and overseas properties in France or Spain are sure to gain value over the next few years.

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