Buyers committed to foreign holiday homes

Title : "Buyers committed to foreign holiday homes".Business Many people who have invested in the Bulgarian property market or other foreign sectors expect their venture to be a long-term investment, according to website Holiday Lettings.

Some 42 per cent of the foreign home owners asked by Holiday Lettings said that they never expect to sell their property.

Of this group, 74 per cent said that rental income was the most substantial benefit of their purchase, yet only seven per cent said this was their original reason for buying.

More than half of the people surveyed said that their original motivation to purchase was the advantage of low-cost holidays and 42 per cent said they chose their location owing to easy access from the UK.

The recent strength of sectors such as the Bulgarian property market has meant that 50 per cent of the respondents had bought their home overseas in the last two years.

This study follows a survey by the Institute for Public Policy Research which concluded that a total of 5.5 million Brits have opted to live abroad.

Commenting on such research, Holiday Lettings said: "It is interesting to monitor the mood regarding overseas property purchase from an owner's perspective and this will continue to be the case as the boom either continues or changes stance in years to come."
  Anthony writes for  from www.BulgarianVenture.com ,  a Bulgarian property portal with both news and properties for sale.