Of the 1,500 property owners surveyed two-thirds said that despite increased airfares they were not questioning their decision to buy a second home abroad.
Jacqui Daly, Savills' director of research states that Britons are still attracted by the lower prices of property outside the UK and continue to buy for personal and investment purposes. 67% of all purchases fall into the leisure and 17% buy solely as an investment. She states that the number of second home owners in the Far East and Caribbean continues to rise.
According to the research around 35,000 properties have been purchased in the past 12 months. UK residents now own around 425,000 overseas properties with a combined value of approximately £58 billion.
