A new survey reveals that 20-somethings are being tempted to buy abroad as a first step to getting onto the property ladder.
Forget buy-to-let - jet-to-let is the new strategy being employed by young Britons anxious to get onto the property ladder. According to a YouGov survey for property developers Oceanico Developments, almost half of 18-29 year olds questioned were planning to buy a home abroad, which they can let to holiday makers in the short-term, and then sell, with enough profit to buy into the housing market at home.
The average spend on a property abroad is £101,000, compared with £160,000 in the UK.
More than 500,000 Britons own homes abroad, with around a fifth of these renting their property out. France and Spain are the most popular places to search for a place to buy, with the US, Italy and Portugal also popular with potential buyers.