Making the Leap: Are More People Buying Property Abroad?
As Brits, we are somewhat obsessed with going to pastures new. The rainy season in the UK, which started in 400 BC and never stopped, is something of a bugbear. Many of us dream of making a new life overseas. What is more, there seems to be an increasing number of people making the leap into the unknown.
Britons everywhere are finding themselves in the ultimate dilemma. Do you stay in the UK or do you move? It is often said that the move abroad is one of the best things that expats have done. They find that their quality of life has been improved. The sunshine helps, of course.
But, are people really moving because they are sick of the weather? Is there an increase in Britons moving?
Statistics shows that in September 2012, 347,000 Brits left the UK for good. That is a staggering number when you bear in mind our tiny island and its small population. Only 201,000 of these expats left for work reasons. On top of this, only 128,000 people had secured a job overseas. The remainder was looking for work elsewhere.
With the economic downturn, many people were forced to reconsider what was important to them. Job insecurity and financial problems forced many Brit’s to wake up to the reality that not all was as it seemed. It seems that many people decided to make a big leap. When people are faced with uncertainty, they seek it elsewhere. Perhaps many are attributing their move abroad with the economic crisis?
House Prices: What Must Go Up Must Come Down
House prices in the UK cost a staggering amount of money. Many first-time buyers have found themselves trapped in a cycle of renting, or living with their families. Many young people are still living with their parents until the age of thirty as they simply cannot afford to move out and fly from the nest.
Property in Cyprus, Germany and Australia is proving to be significantly cheaper than property in the UK. For those who are keen to make a profit, they are selling their homes and moving abroad with a tidy sum of money left in the bank.
The UK does not seem to be paying the bills, either. It is reported that those who have moved to Cyprus and Oz have found themselves with more disposable cash. The quality of life is remarkably better. Wages are higher. Property prices are cheap. All in all, people are finding that by leaving the UK, they have a better quality of life.
Is it Purely Economic?
The reasons for people leaving the UK seem to be attributed to the economic downturn. Job insecurity is a terrifying prospect for many. The threat of losing everything can be too much to bear for some people. Buying property abroad is cheaper and more cost efficient. The reason, it seems, is simple. If you want a better quality of life and more coffers in the bank, it’s time to move away and buy property abroad.