Collateral aids
Affordability problems in the UK could be providing a boost to the overseas property market, an expert has suggested.
Since many young people could not afford to buy a property in Britain, some were opting to invest in flats abroad instead.
These people were continuing to live in rented accommodation in the UK, while saving the money generated from rental income.
The total gained from tenants, holidaymakers and the capital appreciation of the building could then be used to make up the shortfall in Britain and allow them to buy a home.
While land and housing prices in the U.K. have soared astronomically in the past decade, the world real estate market is a far different story.
The average property in the UK now costs about £187,100, making it more expensive than countries such as Spain.
