With all of the news in the last year about Brits flocking out of the U.K., it’s interesting to read a report that maybe the tide is turning and British expats are buying homes in the U.K.:
In the last year there’s been a dramatic increase in the number of expats cashing in and sending money back to the UK. The evidence from foreign currency exchange specialists is overwhelming. At Moneycorp there’s been a four-fold increase in the number of expats in Europe (news) returning to the UK compared with 2009. At the same time, the number selling properties in Europe has tripled.
And the pace is picking up. The number of World First clients converting funds to pounds to buy property in the UK increased 4.5 times, or 350%, between August and November 2010.
As the economy hopefully continues to rebound and more Boomers grow older, we’ll see if the trend continues.