The Office of National Statistics released figures today that showed the amount of British emigrating overseas is growing at a phenomenal rate, and Obelisk International has seen a marked effect on the overseas property market.
London, UK (PRWEB) September 5, 2007 -- The number of UK residents leaving the country in search of a better life abroad has soared and migration experts remarked that this year's non-existent summer will only add to the mass exodus and fueling the increased property investment at Obelisk International.
Figures released today by the Office of National Statistics showed that 385,000 people left Britain in 2005-2006, more than any year since the introduction of the counting system in 1991. The figures showed that out of the 385,000 approximately 250,000 were British citizens, the rest were immigrants returning to their home countries.
Richard Gregan, managing director of Emigration Overseas said that the figures had not come as a surprise and next year's could show an even sharper increase in emigration; "The weather is always among the top reasons for leaving and this summer we have had more calls than the previous five. It's not the only reason, but it's the straw that broke the camel's back."
In Spain alone the estimated figure of British registered as living in Spain are approximately 275,000, with over 500,000 unregistered. Property research shows that not all of these UK immigrants have purchased property and over half are actually renting property in Spain.
Tim van Dijk Project Manager at Obelisk International comments: "The overseas property market offers value for money with significantly lower prices than the UK. As such Obelisk International has had a remarkable number of property investment from the growing number of Buying Abroad Renting in Britain or 'BARBies' and although Spain is still a firm favourite, property investors are now branching out into more diverse areas that provides higher reasle returns and increasing rental yields."
The study by National Savings & Investments found that 84% of 18 to 24-year-olds believes buying abroad is a more viable option than buying in Britain, 36% of aspiring first-time buyers renting in London would consider buying abroad and 43% chose Spain as the most attractive option for ease of travel. Latest figures also show that over 8 million Brits now own overseas property for investment purposes, retirement, or total relocation.
With the recent slowdown in the UK property market, along with the surge in emigration Obelisk International has seen a major increase in overseas property investment with UK citizens putting their money where they will see the biggest returns.
About Obelisk International
Obelisk International is a real estate investment company providing global investment opportunities that offer secure, tangible and impressive financial performance. Their service to investors is based upon three main principles of price, profit, and performance.
For more information on overseas property investment opportunities and to find out about Obelisk International's latest projects, contact: Obelisk International on 0808 1600670 or visit our website http://www.obeliskinternational.com
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