A poll carried out at the ExCel Property Investment Exhibition in London revealed almost 40% of potential investors have particularly increased their interest in overseas property, as a result of this week’s turmoil at Northern Rock.
It reports 67% asserted that market concerns had encouraged them towards alternative investment vehicles, while 59% of these said they were swayed by high returns in other countries and were looking for a longer-term savings method, such as overseas property.
Other information gathered indicates 40% of those surveyed expressed stronger confidence in good returns and growth in overseas property, as compared with keeping money in a UK bank or building society.
However, a fifth indicated general caution about any major purchase, until markets stabilise.
And 62% of those surveyed said they were looking to vary their portfolio to add more unusual properties, such as Budapest and Bucharest, in Romania, particularly those who already had property investments in the UK.
“They also view city properties more favourably than tourist resorts and figures from a number of agencies show Brits taking greater interest in property investments beyond the well-worn holiday destinations.”