Foreign property investment 'could increase need for holiday insurance'
23 December 2009 12:52
A new report has shown that twice as many people searched online for foreign property in November 2009 when compared to November 2008.
According to Primelocation, searches for international property last month were also 11 per cent higher than in October.
Before investing in a holiday home overseas, Brits may want to sit down and make a budget detailing how much they can afford to spend on the total cost of buying a home abroad and jetting off for regular breaks.
Travel insurance in case of any problems on getaways should be factored into this, though regular holidaymakers could find an annual travel insurance policy offers better value for money.
Commenting on the Primelocation findings, chief executive officer at Homesgofast.com Nicholas Marr noted the potential financial benefits of investing overseas.
"Investors know that the returns they can achieve when buying into an investment property abroad far outweigh funds sitting in a bank account," he said.
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