UK residents largest property purchasers in Europe

Andy Biggar, April 17th 2007, 12:47PM

A recent survey carried out by Lang LaSalle's confirms that 2006 was a record year for European property sales with transaction volumes reaching a total of £162.5 billion.

UK residents are still the largest purchasers in Europe,in total £42.5 billion pounds was invested into Europe from the UK.

Comments

I think it is very interesting to see that property buyers in the UK are favouring alternative property markets to the UK.This is mainly due to a slow down in the UK property market and th fact that due to an increase in property prices the Buy to Let market is becoming harder to invest in,due to the fact that more cash deposits are required to lower the monthly mortgage payments in line with achievable rental income.

What is now very interesting, is that we have seen a large increase in first time property buyers purchasing property abroad in order to make money in order to fund their deposit on a UK property.