Can't Buy at Home? Then Try Abroad While House Prices in Scotland Are Rocketing, Young People Disappointed Here Are Getting On the Property Ladder Abroad. Agnes Stevenson Discovers It's Not Just the Fiftysomethings Buying Cheap Houses a Plane Ride Away

The Herald › March 30, 2005

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Summary

Research shows that an increasing number of young Scots, priced out of the markets at home, are buying apartments in Spain and France. This "jet-to-let" generation of 18 to 29-year-olds is likely to shell out an average pounds-101,000 for an overseas property, compared with the average house price in Scotland of pounds- 123,000.

A survey by YouGov by Portuguese property company Oceanico Development suggested that four in 10 of this age group - most of them first-time buyers - were planning to buy abroad, compared with a third of the over-50s, the age group more usually associated with homes in the sun.

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Extract

Can't Buy at Home? Then Try Abroad While House Prices in Scotland Are Rocketing, Young People Disappointed Here Are Getting On the Property Ladder Abroad. Agnes Stevenson Discovers It's Not Just the Fiftysomethings Buying Cheap Houses a Plane Ride Away

It's thought that around 80-per cent of those thwarted by prices at home will rent out their properties, thus creating a lump sum for getting on the housing ladder in Britain.

Experts have voiced caution, however, saying the debt on a foreign property could deter mortg...

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