With house prices in the UK remaining out of the reach of thousands of Britons, growing numbers are opting to rent at home and get on the property ladder overseas, experts have revealed.
According to a new study carried out by Moneycorp, this growth in the number of 'Barbies' (Buying Abroad, Renting in Britain) can be partly attributed to a general reluctance among
Brits to put their money what they see as an uncertain
market.
What's more, many young professionals are unable to raise enough money to put down a deposit at home and are therefore turning to more affordable markets, such as Bulgaria, Poland and Morocco.
"The fact that so many buyers are prepared to get their first taste of
home ownership in a foreign land speaks volumes for the state of today's domestic
market conditions," Moneycorp spokesman Marc Morley-Freer explained.
Though Barbies may be better off financially in the long-run, many may find themselves struggling for space in their UK rental home and would therefore be well-advised to look into safe storage solutions.
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