In an attempt to side-step poor market conditions in the UK, Britons are increasingly looking to invest in buying property abroad, according to research out today from private bank Cater Allen. It  has found that over three million people are likely to buy a property overseas within the next two years, with 42% of these looking to use the property primarily as an investment opportunity.

But middle-aged Brits with some form of cash cushion are most likely to look to the horizon, found the research, with 17% of people aged 45 years or over considering the option.  An aspiring one in 10 of those aged between 18 and 34 are also looking to buy overseas - the majority of them, (60%) looking to buy purely as an investment.

Regionally, more wealthy Londoners are most likely to own a property abroad, with one in ten (10%) holding a set of keys to an overseas home.

Currently 2.3 million people already own a property abroad, with as many as 500,000 used solely for investment purposes.  On average, Britons who own a home abroad will visit the property between two and three times a year.

Sally Watts, Marketing Manager at Cater Allen, said: "With concerns that a deteriorating property market will not guarantee the returns that people expect from buying a property, more and more people are investigating how they can find investment returns elsewhere."

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