1 in 3 first-time buyers would consider buying abroad

According to new research by MRI Overseas Property, one in three first-time buyers would consider buying abroad in order to get onto the property ladder.

It reports that 32% of those looking to get on the property ladder are considering heading abroad for their first home. 71% of those aged between 18 and 29 said they would consider buying abroad, while 21% would consider an overseas purchase as a property investment. And, almost twice as many Londoners (41%) are thinking of buying overseas than Scots (24%).

"With so many young people unable to get onto the property ladder, buying a property abroad can seem an attractive option, either as a means of generating a financial return or to experience living abroad at a time in their lives when they have less ties to home." says Darragh MacAnthony, group chairman of MRI Overseas Property.