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Overseas property always of interest

Catherine Deshayes

Industry analysts have highlighted the continuing interest in overseas property, particularly among British consumers...

According to Shelter Offshore, the desire to buy a foreign bolthole is not abating in the UK, even amid the current financial climate.

The online portal said that no matter how bad the fallout from the economic crisis gets, people's underlying enthusiasm to invest abroad is unlikely to be dampened.

Shelter Offshore commented, "As times get tougher and the winter draws ever closer, more and more of us dream of escape."

The website added that owning a property in another country is a guaranteed method of leaving crashing markets behind.

According to a study by Savills and Holiday-Rentals, people from the UK now own approximately 425,000 foreign properties.

This is 35,000 up on the amount recorded during 2006.

Estimates suggest that these are collectively worth in the region of £58 billion.

Source: www.propertyshowrooms.com