buying a place in the sun
TRANSCRIPT
Buying a place in the sun
Presented by Currency UK
Buying property abroad is more popular than ever, as more and more people follow their dream of having a place in the sun.
6 million Brits live overseas
That’s 10% of the UK population
Property prices in the UK are rising, with the average home costing £242,415 – a 6.84% increase since 2012.
By 2020, 10% of Brits will be living or working abroad.
Australia is the number
one choice of destination
70% of expats in the country own their own property
86% of expats say their standard of living is excellent
71% say work/life balance has improved
Average property cost in a major
city
£339,000
But
After Australia and Canada, UAE is the 3rd most popular place to move to.
96% enjoy a disposable income
70% of expats choose UAE for career opportunities...
...but only 8% believe they will stay forever
70% of expats choose UAE for career opportunities...
In Spain, British buyers are back, and property
spend is on the up.
Property value increased from
€3.6bn in 2009 to €5.54bn in
2012.
Foreigners make up 12% of the Spanish property market and are crucial to recovery.
Before you sell or buy abroad:
2) Specialist advice – consult independent surveyors, solicitors, valuersand architects before making a decision.
3) Location, location, location – conduct thorough research into the area you would like to relocate to.
4) Tax - check laws on aspects such as capital gains and inheritance tax, as well as stamp duty.
5) Arrange finances – enlist the help of a currency exchange company to transfer large amounts of cash in
the most affordable way.
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References
• BBC: http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/houses.stm
• RP Data: http://www.rpdata.com/research/daily_indices.html
• Natwest: http://www.natwestinternational.com/nw/global/quality-of-lifestudy.ashx
http://www.natwestinternational.com/nw/global/quality-of-life-study/reports/australia.ashx
• ONS: http://www.statistics.gov.uk/hub/index.html
• Centre for Future Studies: http://www.futurestudies.co.uk/home.htm
• Rightmove: http://www.rightmove.co.uk/overseas-magazine/foreign-buyers-helping-to-boost-spanish-property-market