A division of Ronan Property Services
Expatriates returning home
The economic effects of the worldwide recession are making themselves felt among expatriate communities worldwide. On the positive side, expatriates as a whole still evaluate that they are wealthier and manage to save more than when they were resident in their home countries according to a recent survey.
Where is the crunch causing the most damage? Residents in the USA, Thailand and South Africa have identified the largest changes in their spending patterns. The largest reduction in day-to-day items was shown by 81% of expatriates in Spain cutting back on spending for day-to-day essentials, with the US (79%) and the UK (75%) close behind.
Going home? 15% of all expatriates surveyed are considering going home. A massive 44% of all Expatriates in the UK are thinking of returning to their homelands and 23% of those in the USA are thinking the same.
As the world continues to undergo a significant economic shift, we are seeing some interesting patterns amongst the expatriate population, particularly in the changes to their spending habits. Despite expatriates in the UK and US considering a move home we also found that the majority of expatriates are staying put despite growing employment uncertainty across many regions.
There are many other reasons that cause expatriates go back to their home countries. Apart from the recession, many of these are to do with family issues. Parents and grandparents missing the kids, serious illness in the family or serious family issues that have arisen requiring the grandparents to go home. As most of those that went out in the boom years were of retirement age, many are now feeling the effects of old age and want to be back home near the family plus a lot have now lost their partners and do not want to be alone in a foreign country.
The present economic crisis in which property has tumbled by up to 50/60% means that there are hundreds of thousands of unsold properties throughout Europe and more so on the Spanish Costa's.
We have associated investors and cash buyers who are always looking for Below Market Property throughout Europe. These investors can usually move quickly as they have the funds available and do not have to sell another property first. Fill in our application form and a consultant will ring you back to discuss the options and the best way forward. However you will have to be prepared to accept below market value for your property in the present market conditions.
Apply to enter your property now as it will not cost you anything
Nothing to lose Nothing to pay.
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