Expats look abroad for cheaper cost of living

The high cost of living in the UK is creating widespread disillusionment among many Britons, to the point where many are considering emigrating, a newspaper has said.

A report in the Telegraph stated that many British people are thinking of packing up and leaving for another country.

This was largely attributed to the current state of the UK economy, which has led to increases in the prices of groceries, fuel and other necessary expenses.

People were also said to feel unhappy with their rising tax burden, with council tax in particular flagged up as a particularly unpopular charge.

Therefore, many are looking to overseas property as a way of avoiding these payments and reducing their outgoings.

The Telegraph commented; “It’s hardly surprising many British homeowners are seriously thinking of selling up and moving overseas.”

Earlier this week, a poll of expatriates by NatWest revealed that the vast majority believe they are financially better off now that they live abroad.

According to the organisation, the average person in the UK earns £47,000 a year, whereas a typical salary in the United Arab Emirates can be as high as £79,000.

Britons escape for sunnier climes

A large number of people from the UK are set to fly to hot and sunny locations overseas next month, a travel firm has revealed.

Lastminute.com stated that some schools are offering staggered school holidays because Easter was relatively early this year.

Since this means many families have a break in April in the wake of the recent Bank Holiday weekend, some are choosing to spend this time away from the poor weather at home.

John Bevan, managing director of Lastminute.com, observed: “The unusually cold weather has led to incredible demand for late Easter sun holidays.”

Egypt was highlighted as one of the most popular destinations for spring holidaymakers, in particular the Sharm-el Sheikh resort.

The Turkish resorts of Bodrum and Antalya were flagged up as further hotspots for British travellers.

Earlier this month, research by Holiday Inn found that many people are choosing to stagger their holidays throughout the year.

The company said this can be more cost-effective than travelling abroad during the peak tourist season.

Cape Verde offers diversity to investors

Foreign property buyers have been told of the diverse range of attractions that can be found in the Cape Verde islands.

The west African archipelago was praised by the Irish Independent for offering features such as beautiful beaches, clear blue water and year-round sunshine.

However, the country was said to offer more than physical attractions, as it also has a growing and potentially lucrative property investment market.

According to the newspaper, the consistently good weather makes property in Cape Verde a better option than places such as Bulgaria and Croatia, as it has a longer holiday season.

Therefore, there is demand for rental property over a greater period of time.

The newspaper commented: “Unlike some of the emerging markets in Eastern Europe, Cape Verde’s climate virtually guarantees investors an all-year-round return.”

According to Sarah Brown from NuBricks.com, accessibility improvements have led to the country attracting a record number of foreign visitors.

Analysts praise Spain’s transport network

Spain’s transport network has been praised for helping to enhance the country’s appeal to foreign investors.

ShelterOffshore.com said its “exceptionally good” transport infrastructure has helped bolster its appeal among overseas property buyers.

The online portal stated that this has made it easy to get around the country and travel to other destinations in mainland Europe.

However, its international transport connections were said to be just as important in helping to attract foreign property buyers.

ShelterOffshore.com described Spain as an “easily and cheaply accessible” location, especially to consumers in the UK.

This, it said, has helped it to become the holiday destination of choice among British tourists and second home buyers.

The website observed: “Spain remains one of the most popular countries in the world in which Brits would like to own property.”

According to Holiday-Rentals, 31 per cent of British-owned holiday homes in Europe are located in Spain.

Turkish officials aim to boost tourism

Officials in a Turkish tourist hotspot have revealed that they want to boost visitor numbers even further, a media outlet has reported.

According to the Turkish Daily News, about eight million foreign leisure travellers visited Antalya in 2007.

However, Antalya governor Alaadin Yuksel has expressed his desire to attract more holidaymakers this year, as it is proving to be very good for the economy.

Speaking to the newspaper, he revealed that the city benefited from more than £3 billion in revenues from the tourism sector last year.

Mr Yuksel said the figure could be even higher if it achieves its aim of bringing in ten million people to Turkey during 2008.

This money could then be ploughed back into the local area in order to further enhance its desirablility.

He commented: “We want visitors who come here to leave with very good impressions – we want them to come back here many more times.”

The Turkish government is currently aiming to increase the annual number of foreign arrivals from 23 million to 50 million in the next 15 years.

Malaysia recommended to property investors

People who want to invest in a long-haul destination have been advised to consider the Malaysian property market.

The Asian country was recommended by independent analyst Amberlamb, which said its economy is currently very strong.

According to the organisation, it is likely to build on this positive performance and enjoy economic growth of 5.8 per cent this year.

Property investment buyers were also told that Malaysia offers a number of other attractions, including a robust housing market.

Amberlamb commented: “It’s an incredibly strong stand alone market with excellent levels of local demand and affordability.”

The group added that government is actively aiming to attracting foreign property buyers by offering a favourable tax regime, benefits and rights.

Furthermore, it said Malaysia is becoming increasingly popular among international holidaymakers, which means it offers the potential to generate good rental returns.

According to the Association of International Property Professionals, British investors spent £24 billion on foreign property last year.

Portugal offers affordable property

Overseas property investors have been advised that they can snap up a possible bargain property in Portugal.

The established European market was highlighted by ShelterOffshore.com as a place where investors can enjoy year-round sunshine and a strong tourist trade.

However, lifestyle buyers were told that they too can find good quality houses away from the main holiday hotspots, allowing them to enjoy the good weather and natural environment in relative peace and quiet.

Alentejo was flagged up as one such location, as it has a “stunning coastline” and is free of “maddening crowds”.

In addition, the region was praised for offering diverse landscapes, including lush plains, arid areas and national parks.

ShelterOffshore.com said: “Alentejo has such dramatic and diverse countryside that there is a town, village or rural location to suit everyone’s tastes.”

The website added that property prices tend to be lower than in other regions such as the Algarve.

Portugal’s popularity with second home buyers was recently highlighted by the Irish Independent, which said its lack of “unsightly overdevelopment” makes it preferable to many other established markets.

Manchester consumers offered more cheap flights

People in north-west England will soon be able to enjoy more cheap flights to Spain and Cyprus.

Services to Paphos and Malaga are being introduced by easyJet as part of its expansion in Manchester Airport.

According to the low-cost airline, it is expecting to carry more than half a million people from the airport over the next year.

Furthermore, it said it plans to add new routes to its timetables in the near future.

This means that consumers who live in Manchester and surrounding areas will be able to take advantage of more cheap flights to the continent.

As a result, places such as Paphos and Malaga will be likely to attract more visitors from the region, as well as prospective holiday home buyers.

Commenting on the move, Andrew Cornish of Manchester Airport said: “The arrival of easyJet is great news for Manchester passengers.”

The airline recently revealed that 500,000 people travelled on easyJet flights over the Easter holiday.

British investors have homes in 50 nations

Property buyers from the UK now own homes in dozens of different countries, according to an industry expert.

Broadcaster Amanda Lamb, who hosts Channel 4’s A Place in the Sun, said there are now a significant number of British-owned houses in more than 50 nations.

Investment property in Spain was flagged up as a particularly popular, along with Cape Verde, Morocco and Egypt.

However, she urged investors to remember that not all countries will offer the living standards they expect, as they are at various stages of development.

Therefore, Ms Lamb has recommended that people look beyond cheap houses and find out what a country has to offer before committing to a purchase.

She advised: “Properties might be cheap but is the electricity supply reliable?”

Ms Lamb also recommended that prospective investment property buyers go on an inspection trip in order to view the property they are considering first-hand.

The advice comes after a poll by A Place in the Sun magazine revealed that established markets such as Spain are still Britons’ favourite investment spots.

Spanish market ‘will pick up again’

A national newspaper has expressed optimism about the Spanish property market picking up again.

The country has recently attracted negative media coverage as a result of the worldwide economic slowdown, as well as domestic issues such as the demolition of some houses.

As a result, prices are starting to come down and investors are choosing to stay away and look at other locations.

However, the Independent believes that that the market conditions will improve at some point in the future, which means investors now have a window of opportunity.

The newspaper suggested that prospective buyers look for properties that have come down in price, as they will increase in value once the market recovers.

“No downturn lasts forever,” the Independent asserted.

“The worst time to buy suddenly becomes the very best time – the time when you can pick up a good home for tens of thousands less than you could have a year ago.”

This comes after the Daily Mail said the slowdown in the property market in Spain is not a uniform trend and that some areas still offer bargains and potential investment opportunities.