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Life insurance can protect overseas investments

Date: Thu, 27 Apr 2006

There has been a growth in the number of Brits buying property abroad but buyers must also consider increasing their life insurance cover to protect their investments.

A new study from Savills shows that around 260,000 overseas properties are now owned by Brits and that people increasingly see owning a second property as an attractive financial investment.

Spain remains the most popular location, with one in four buyers opting for a Spanish-based property. The country has an attractive climate and an affordable housing market as well as strong links with low-cost airlines.

Demand is also high in France as its close location enables many owners to take numerous short-breaks throughout the year as well making it an ideal rental property.

However, people looking for a holiday home are being advised to make sure they have sufficient life insurance to cover the cost of their second property. Otherwise, loved ones could be forced to sell their dream villa.


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