one in ten over 50s own property abroad
News Posted On: 21 April 2009
Recent figures have revealed that a large number of Britons over the age of 50 own a property abroad in countries such as Italy.
A poll by insurance firm Saga revealed that more than one in ten UK residents over 50 years old have a home overseas.
The average holiday homeowner was found to spend about one month each year in their foreign property.
Indeed, most of those polled used the property for lifestyle purposes.
Despite this, many found a second home abroad was a useful way to supplement their income, with 48 per cent letting out the property to family members.
This enabled many to collect a solid rental yield from their real estate abroad, secure in the knowledge the property is occupied by people they can trust.
Those looking for a holiday home overseas might wish to opt for a house in an Italian city because prices in these areas are dropping.
According to the Roman Forum, many estate agents in the country have forecast declines in prices in the nation's urban centres.
Written by Les Calvert
Property Abroad - for your Italian mortgages, buyers guides and the latest news on buying property in Italy
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