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Brits lap up life abroad - 12 June 2008

The life of expat Brits has been put under the microscope in a new report, and it appears that in addition to having an active and varied social life, some of the common stereotypes of British buyers overseas are set to be challenged. The report, commissioned by specialist currency broker, Foreign Currency Direct, shows British expats making the most of their new life in the sun.

The first of the stereotypes to be challenged in the survey is that of ignorant Brits refusing to mix with the local population and speaking loudly and slowly in English in shops, bars and restaurants. More than a third of those in the survey have made new friends since moving abroad, and 28 per cent making the effort to learn the local language in order to integrate into the community.

The social aspect of moving overseas is one of the major factors in the report, but the influence of a change of lifestyle on the general wellbeing of those questioned also significant. More than one fifth of the respondents said they now have an improved work/life balance, while 14 per cent claim that moving overseas has improved their health dramatically.

Nearly half of expats feel so strongly towards their property overseas that they wished they had bought years ago, and 35 per cent feel that buying abroad is the best decision they have ever made.

The survey also looked at the reasons people were leaving the UK in ever-increasing numbers. The cost of living was seen as the most important factor as Brits look to protect the cash in their wallets, with 51 per cent of people saying it pushed them to buy overseas. Just behind in the list of why Brits are leaving the UK is the unpredictable weather, followed by the level of crime now evident and investment motivations.

Foreign Currency Direct CEO, Peter Ellis, said, “With social, physical and 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.”

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