Gone are the days when the average overseas property buyer was a retired couple seeking a place in the sun. Young British buyers now see overseas property as their way of getting on the property ladder.

The average UK house price is now in excess of £200,000 as quoted by the BBC and recent interest rate rises coupled with a bleak economic outlook have not aided the situation. The burden of a lifetime of mortgage payments is weighing heavily on young home buyers’ minds. Added to this, a survey with National Savings and Investments showed that a massive 84% of 18-24 year olds believe that buying their first home abroad is more viable than buying it in the UK. The National Savings and Investments survey revealed that in London, 36% of first time buyers would consider buying abroad as an alternative to purchasing in this notoriously expensive city. Barclay’s’ overseas divisions have reported a twofold increase in the number of enquiries about mortgages for overseas properties.