Overview
Introduction
In recent years an increasing number of Britons have purchased properties abroad. Primary motivations of this trend have been high property prices in the UK , cheaper cost of living and improved accessibility. But, is the overseas mortgage market developed enough? What are the current strategies adopted by players in this market? What else can be done? This report provides the answer.
Scope
- Covers the increasing trend of Britons buying abroad.
- Puts special emphasis on France and Spain.
- Analyses the current strategies in place among lenders and brokers.
- Provides recommendations to potential entrants and existing players.
Report Highlights
The downside of high and growing demand means property markets are currently being overvalued. According to a secondary source, demand has contributed to a 21 per cent increase in average house prices in the Spanish Costas in 2003. Similarly, a 28 per cent price rise in the Languedoc Roussillon area in France was witnessed in 2003.
While owning a property abroad used to be the privilege of the wealthy, this is no longer the case. More and more average income earners have joined the market. For instance, an interviewee stated that a proportion of his customers earn an average annual salary of 25,000.
Primary and secondary research conducted for the purpose of this report revealed that lenders do not actively promote their overseas mortgage portfolio. Promotion and advertising seem to be limited to the occasional advertisement in a specialized magazine and being present at exhibitions for overseas properties.
Reasons to Purchase
- Allows you to effectively plan your strategies by providing a thorough analysis of the buying abroad property market.
- Learn about the strategies of the main players in the overseas mortgage market.
- Determines whether the overseas mortgage market offers interesting opportunities to potential entrants.
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