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Saturday, 29 November 2008

Weather is the main reason for Britons Overseas Home Buyers


Britain’s overseas property buyers are driven by a better lifestyle and more enjoyable weather that that experienced at home in the UK. Spain (including the Canary and Baleric Islands) and Australia were highest on the list for their international real estate purchase.

Bad weather is the top reason Brits want to emigrate from the UK and Australia is their preferred destination, according to new research from savings bank Alliance and Leicester International (ALI).
It was found that 60% of retired British expats rate good weather as the factor which sets their new country of residence apart from the UK, while a higher standard of living and better quality of life were ranked second and third place (48% and 44%) respectively.
People investing in overseas businesses also stated that the weather played a big part in their overall decision.

After weather, people who emigrated for family reasons felt that the better quality of life and feeling safer in their new country were important - rating them in second and third place (45% and 40%) respectively.
Responses by destination
Australia and Spain came out top as the countries which are home to the most satisfied expats. The overwhelming majority (86%) of those living Down Under voted weather as the best thing about the country, with 80% saying the standard of living and 73% quality of life were what they liked best about the country. However, a massive 87% said that the worst factor about living in Australia was that they were so far away from their family.
Spain also fared extremely well, with 92% putting weather at the top of the list, while 85% appreciated the slower pace of living as well as feeling safer in Spain than in the UK.
New Zealand also scored highly in the poll due to its favourable costs and high quality of life. Nearly two thirds (62%) said standard of living and quality of life were the best things about living abroad as opposed to the UK. In recent research by ALI, New Zealand topped the poll for both of these, as a result of its low costs for food, drink and fuel as well as a favourable tax regime.
Top ten reasons expats rate their new country over the UK.
1. Better weather (57%)
2. Better quality of life (56%)
3. Higher standard of living (53%)
4. Safer / lower crime rate (49%)
5. Slower pace of life (36%)
6. Higher income (30%)
7. Better food (28%)
8. The expat lifestyle (27%)
9. Mixing with the local people (26%)
10. A more social society (19%)
Most favoured reason for living in Spain
Weather Standard of living Quality of life Safer Slower pace Food
Australia 87% 80% 73% 47% 47% 33%
France 75% 50% 75% 75% 37.5% 75%
New Zlnd 62.5% 62.5% 62.5% 62.5% 50% 50%
Spain 92% 69% 69% 85% 85% 38%
Canada 25% 62.5% 50% 62.5% 37.5% 12.5%
UAE 60% 60% 60% 60% 10% 50%
USA 59% 27% 41% 14% 14% 18%


Source OPP

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