Expats buying more affordable property in the UK

British expats are increasingly buying property in the UK, but they aren’t splashing out, with the most popular investments in the £55,000 to £70,000 range, research has found.

According to Find UK Property, a company that specialises in finding properties for overseas investors, sales to British expats have increased by 60% in the first half of this year.

Its data also shows that sales to expats and to non-UK nationals of properties worth £70,000 or less had risen by 55% compared with the first half of last year. Many are opting for properties that come with management and guaranteed rents.

Part of the reason is that the UK property market is regarded as a safe haven for buy-to-let types of investment with well-regulated selling laws and clear title ownership.

Buyers are also looking beyond London, which is generally too expensive for this level of investment. The most popular purchase is a two-bedroom house at £54,999 with a rental yield of 8%.

A comparable property in London would cost over £250,000 with a rental yield of just 3%. Andy Noble of Find UK Property also pointed out that less expensive properties often have greater potential for capital growth, and also give investors greater flexibility.

Source: www.expatbriefing.com