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Tourists should 'buy second home abroad'
Tourists should 'buy second home abroad'
New research has suggested that Britons who return to their favourite holiday destination regularly could save around £65 billion in total if they decided to invest in a holiday home as an alternative.
The MRI Overseas Property survey found that 73 per cent of holidaymakers now visit a place they hold in high regard at least twice, reports the Holiday Lettings website.
Furthermore, the survey found that the average holiday costs £1,477 on average and now a fifth of UK residents take four or more vacations every year.
The findings hinted that purchasing a property abroad may save the buyer cash in the long-run.
France and Spain continued to be popular destinations and snapping up an apartment in destinations such as these would help cut costs for the traveller, suggested the report.
Group chairman of MRI Overseas Property Darragh MacAnthony stated he thought that buying an overseas property would be a shrewd move.
He said: "Smart investors will almost certainly move towards buying a property overseas capitalising on the opportunity to return to the same destination several times over."
In the UK, the average property price now stands at £210,100.
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