Overseas buyers ‘paying too much'

Overseas property investors are wasting money on their travel costs, experts have warned…

Currency specialist HiFX stated that a large number of second home owners were paying over the odds in order to get to their foreign residence.The organisation has recommended that investors plan any visit to their property well in advance, as this would give them more chance of paying cheaper air fares.

Mark Bodega, director at HiFX, commented: "Many airlines, particularly the low-cost carriers, have a January sale which includes some great deals for the more organised owner." He added that the overall number of British investors was increasing by about 15 per cent a year.This means that about 285,000 people from the UK could have assets in other countries by the end of 2008.

According to Vanessa Bird of financial services company Baydonhill, France, Portugal, Italy and Cyprus are likely to be popular with British investors this year.