15 December 2009

The Overseas Property Game

Fancy spending Christmas in the sun? Many Brits are choosing to spend their winter holidays abroad in second homes.

This may sound all decadent and not very recession-friendly, but Brits who have managed to hang on to their overseas properties in places like Spain and France are apparently sitting on a potential profit-maker.

That's because according to new research, despite the recent volatility in both the home- and abroad property market, those who purchased their property four years ago could gain on the back of the exchange rates.

So, while the pound is weaker against the euro, you could still profit. Foreign exchange specialists are indeed reporting that there is a large increase in Brits choosing to sell their property abroad.

Whichever way you plan to go - buy or sell - it seems that the overseas market is on its way back to business.

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