New groups examine overseas properties

Managing director of property investment firm Escapes2, Adrian McDermott, said that the firm had seen a lot of younger buyers contacting it who had been priced out of UK property and wished to buy overseas.

This was a trend also seen in a recent report from Hiscox, which identified a growing number of BARBies – young people Buying Abroad and Renting in Britain.

Mr McDermott said that the areas that were showing the most potential for investors at the moment were the emerging markets of Egypt, Brazil and Cape Verde. However, he added that the more established market of Spain was still the firm's busiest area, although this was not the place to go for those looking for quick returns on their money.

In addition, it was not necessarily more of a gamble to invest in property abroad than in the UK, he explained, as long as investors did their research fully.

He said: "It's not that much more risky in the overseas market - as long as you do your research and use a lawyer, then on many occasions it can be simpler than more established markets."