The number of people seeking to buy overseas property is likely to be higher because of the credit crunch, it has been stated.

Paul Collins, the property editor of overseas investor magazine BuyAssociation, said that some people are concerned about being able to sell a UK property to finance an overseas property purchase, but this has not stopped people being interested.

He stated that the attraction of moving to a less expensive location was one particular reason for people to be keen on residing outside the UK, commenting: "It actually makes your money go further if you are living somewhere where the cost of living is quite a bit lower."

Mr Collins concluded that for those seeking to buy overseas, whether for a holiday home, investment or emigration, the present time is a "fantastic" one in which to buy.

Recent figures from financial services firm HiFX have shown that the number of Britons looking to move abroad increased by 30 per cent in the first half of 2008 compared with a year earlier.

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