British Expats still have a taste for UK property

A survey by Lloyds Bank has revealed that 38% of more than 1,000 British expats living abroad plan to buy a new property in the next 2 years on a buy-to-let basis, with the main intention of securing a regular income while living abroad. The survey also reports that British expats living in the UAE (65%), France (37%) and Switzerland (29%) are the most likely to purchase a home in the UK.
A relatively weak sterling means that expats buying property in the UK can now buy more for their Euros than they could a few years ago. This incentive has caused strong interest in London properties from international buyers, which has, in turn, kept the UK property market buoyant in recent years.
Richard Musty, director at Lloyds Bank International Banking, said: “Confidence is very strong. Our recent Investor Sentiment Index in March showed that consumer sentiment for UK property had grown by 50 percentage points since March 2013, so it’s not a surprise that Brits abroad are looking back home.
UK property prices are strengthening and British expats don’t want to miss out on this investment opportunity. Our research shows that huge numbers of expats are now ready to take the plunge as they look to benefit from high rents and a relatively weak pound. With that in mind, any potential investor must make sure that they get the right advice before deciding to invest back into the UK.”
According to the report, the UK is the favoured location for those expats looking to buy-to-rent with 25.8% choosing the UK, followed by Australia (24.7%), USA (15.1%), Canada (8.2%), Spain (6.8%), New Zealand (5.4%) and France (2.2%).
Information correct at time of publication