Property abroad doubles

Brits with property abroad set to double, reveals new research from Barclays. 4 November 2005 - Barclays Insurance The number of Brits who own property abroad is set to double to 4.4 million, according to new research by Barclays. Five percent of those surveyed already own a home abroad (the equivalent of 2.2 million people in the UK) and a further five percent said that they are definitely going to buy a property overseas in the future. In addition, a staggering 37 percent of respondents said that they were considering a purchase abroad. However, before the dream can become a reality, there are concerns that need to be overcome: 58 percent of those who are definitely or considering buying are concerned about getting caught out by local legal or tax issues; 17 percent were worried about keeping the property secure while it is empty; A further 14 percent were concerned about being able to understand the local language well enough; Only eight percent were worried about being taken for a ride and paying too much for a property. And if a red-tape, trouble-free purchase could be guaranteed, the following countries would be the destinations of choice - with a couple of surprise destinations outside the European property hotspots making the top five.