The number of British people buying abroad could fall dramatically if the UK flirts with the prospect of a European Union exit. Most Brits think overseas property is not a secure investment, with one in three claiming that leaving the EU deter them from buying in the Eurozone, according to a YouGov survey.
Despite the euro’s recent record slide against sterling, finance expert Jordan Tilley says Brits are not getting “caught up in a European buying frenzy”. He adds: “Today’s findings suggest the British are still cautious about committing to property in the Eurozone, and need a better understanding of the market before they can take the leap.
“A year ago, a property worth €180,000 would have set you back £150,000 – this month, a weak euro means that figure would be more like £128,000. Still, with Greece’s debt talks rumbling on and the possibility of a Brexit [British exit] referendum following May’s general election, many buyers are wise enough to know that the dream of a European place in the sun is best undertaken with a full knowledge of the risks.”