Brits buy abroad for rental income

The majority of Brits investing in homes abroad do so for the rental income opportunities, according to a new survey.

Results from the survey, conducted by property investment specialists Assetz, found that 60 per cent of UK residents buying property abroad are primarily interested in the buy-to-let investment opportunities.

Of the 50,000 people surveyed, a further 21 per cent claimed they were looking to their futures when purchasing second homes, hoping to retire to their chosen destination.

Despite the general idea that second homes were used for holiday destinations, only 19 per cent said they would purchase property abroad to use solely for holidays.

Stuart Law managing director of Assetz said: "There is a tremendous benefit in being able to own a second property, use it for holidays, enjoy capital gains in most overseas hotspots and also generate an additional income in return. The second home revolution means it is no longer the domain of the rich, but also of the financially savvy who make sure their investments stack up.

"I also think there has been a move away from investors letting property cheaply to friends and family, as there?s a growing realisation that it can have a major impact on returns, especially in high season."

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