FC Exchange sees increase in FTBs buying abroad

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by Lin Freestone

Currency specialist FC Exchange signed up more people who are planning to buy an overseas property during April and May than at any other time in the past 12 months.

First-time buyers from the UK are increasingly considering investing abroad.

According to Nick Fullerton, Managing Director of FC Exchange, despite the turmoil in the UK housing market, people appear to be keener than ever to buy property abroad.

They are looking for ways to tame the highly volatile currency markets to ensure they get the best deal when they invest in the next property hotspot.

He considers there are a number of reasons that could explain why people are more prepared to invest their money overseas in the last few weeks, including a reluctance of many to invest in the UK property market as prices start to drop.

The first time buyers who are still determined to get on the property ladder, see the overseas property market as representing more opportunity for growth and better value for money.

Many of FC Exchange’s customers have been watching exchange rates tumble and now seem convinced that the markets will remain depressed for quite some time.

These record figures are encouraging and demonstrate the continuing appetite to invest in overseas property.

According to research by A Place in the Sun magazine, France and Spain are currently the two most popular markets with British property buyers.