Overseas buyers are undeterred
THE recession hasn’t deterred those who dream of buying abroad. The Overseas Guides Company say many believe now is a good time to find a bargain.
Around 70 per cent of prospective overseas property buyers are at least 50 years old, with the majority aged between 50 and 64, and more than 70 per cent of the total will buy outright without a mortgage. Just over half are are buying to emigrate, and nearly three-quarters of these will rely on pensions and/or investments to support themselves financially.
“The evidence paints a clear picture of today’s typical overseas buyer – a financially self-sufficient retired or semi-retired person looking for a discounted home abroad,” says OGC’s Richard Way.