British Citizens Choose Abroad To Home

Two million Britons have left the UK over the past decade, according to recent figures released by the Office for National Statistics. According to the ONS, in 2006, more than 200,000 people emigrated from the UK, which means the total number who have left British shores between 1997 and 2006 stands at 1.97million.

Although this is the biggest emigration wave in real figures, a larger percentage of people left during the 1930s and the middle of the 19th century. Many of those who have left the UK have retired abroad; the most popular destination for Brits was Australia; estimates suggest that there are currently 5.5million British citizens living abroad.The emigration has been more than balanced though immigration; 3.9million foreigners have arrived in the UK during the same period, including more than half a million in 2006 alone.

Many Brits who originally purchased investment properties abroad are selling up their UK homes to live abroad permanently, and a recent fairinvestment.co.uk survey revealed that 44 per cent of first time buyers would consider buying their first property abroad, while eight per cent said they had already done so.

Taking this into consideration, this is the reason why people in the UK have been advised to consider the benefits of purchasing a property in another country. According to Foreign Currency Direct, a growing number of British nationals are buying second homes overseas. Peter Ellis, head of the company, said this is because they are keen to take advantage of the lifestyle benefits that buying abroad offers, such as the better climate and healthier way of living. Speaking to the Daily Record, Mr Ellis added that many Britons are also enjoying the lower cost of living in many foreign countries, as well as the investment potential the property itself can provide.

He commented: “Buying property overseas is still an excellent investment and a great opportunity for a better quality of life.” According to Jet-to-Let magazine, property for sale in the United Arab Emirates is especially popular with British buyers. The publication recently included the country in a list of this year’s top ten overseas hotspots for the first time.

Brits who move abroad also reap the benefits of an active social life - leaving nearly half of the UK’s ex-pats wishing they’d left the country earlier. New research suggests more than a third claim quality of life significantly improved once they left Britain behind. The survey - carried out by Foreign Currency Direct - reveals 38 per cent make new friends fairly soon after moving, with a quarter learning a new language to help integrate them into their new community.

One in four also claim their move abroad has resulted in a better work and life balance - with most suffering less stress and enjoying more downtime in the sun compared to life back in the UK. And far from being brash and bold, many Brits want nothing more than to live quietly and enjoy both the lower cost of living and the sunshine. Peter Ellis, boss of Foreign Currency Direct, said: “With social, physical and now financial benefits being presented from foreign markets to the British investor, it appears that an increasing number of Brits are taking up the offer to seek the solace of a second home abroad.

“Buying property overseas is still an excellent investment and a great opportunity for a better quality of life.” The report also found that the increasing crime rate, bad weather and the high cost of living at home were the reasons for moving abroad.”

Jamie is an author of several articles pertaining to Mortgages. He is known for his expertise on the subject and on other Business and Finance related articles.