English School Malta

There are parts of London where former council houses are now on the market for seven figures. New figures are being released week in, week out showing just how unattainable the idea of owning a property is for most young people in the United Kingdom. The British property stock is now almost entirely in the hands of older people who have the means to own more than one home and 'sit' on second and third homes as a decent income and a pension in future years.

Canny British investors are 'getting out when the going is good' and purchasing second or third homes overseas. While the Pound continues to ride high on the international currency markets, there has never been a better time to buy a place overseas. Most popular are still Spain properties, but properties in Italy are increasingly popular, as are properties in less traditional locations that would have raised a glance if mentioned ten years ago as possible opportunities for investment.

A great example of this trend for less conventional property investment has been the surge in interest in Hungary properties. Central and Eastern Europe were viewed as somewhat 'off-limits' to many people until very recently, but the accession of Hungary, Poland, Bulgaria and Romania to the European Union has created a huge flow of labour in one direction and investment in the other. Another popular location for Britons to invest in the former soviet bloc is Estonia. While not as affordable as properties in some neighbouring countries, Estonia properties still represent much better value than is available in Britain and capital city Tallinn is a stunning and alternative location for a second home.

Many people view investing in property overseas as a way to 'own a slice of a lifestyle' not available in the UK. This generally means one of two things. Firstly, and most commonly, it means buying a place near the beach where one can enjoy the sunshine and warm waters of the Mediterranean. The other lifestyle to which many Brits aspire is that of skiing towns, of which we are also short in Britain. Andorra properties offer a life on the piste and some of the best skiing conditions on the continent. Similarly, there are houses to buy in Germany which are located near the great ski slopes of the alps, which have produced a number of the greatest skiers of all time.

It is worth noting that, as with all investments, the value of your property overseas can go down as well as up. This is more likely in the newer, more volatile property markets which are seeing rapid and large investment from wealthy western European countries and North America. More established markets offer smaller rewards but a more stable bet.