The number of UK-owned properties abroad grew by as much as by 35,000 last year to an estimated total of 425,000, a property portfolio worth £58bn. And these owners are not too concerned about the impact of climate change on travel abroad, says a new report out from Savills, saying they’re just as happy to travel if the price of travel is to rise.
* Luxury property for sale abroad
A key driver of demand for buying property abroad is still price: with an average budget of £225,000 to spend, buyers find they can get more for their money overseas. Leisure is the main motivation driving second home purchases with investors making up the rest of the sample, including 17% specifically buying for fly-to-let. ‘The ideal holiday location was rated as the most important factor amongst purchasers, which goes some way to explaining the ongoing purchase of property in locations where capital growth slowed or even turned negative last year,’ says the report.
It also notes that growing numbers of buyers are capitalising on the popularity of city break tourism by making purchases in New York, London, Barcelona and Paris. Other city break rental destinations increasingly include Eastern Europe with Prague, Krakow and Budapest becoming popular places for Brits to buy.
-
'True waterfront homes are finite... miss one and it could be years before you see another like it again': Why the best waterfront property always hits the spotThere’s no denying the appeal of waterfront property, which now sells for some 51% more than its inland equivalent, finds Knight Frank. Annabel Dixon explores the shore.
-
Beyond Royal Portrush: Castles, country houses and ancient towers in the other dimension of golf in IrelandRory McIlroy's history-making exploits and The Open arriving at Royal Portrush have made 2025 a banner year for Irish golf — but there's far more to golf on the island of Ireland than those headline-grabbers, as Toby Keel finds out.
