The overseas property market is still in a strong position and will cope with the credit crunch, it has been stated.

Chief executive officer of Homesgofast.com Nicholas Marr acknowledged that buyer numbers have gone down since the liquidity problems emerged, but stated that this was far from the whole story.

He said: "It’s far from a grinding halt and in fact, for some things, it could not be better," noting that buyers able to purchase property without having to borrow at high loan-to-value levels have been benefiting from lower prices.

Mr Marr added that the current market is "all about value for money for us all," including buyers and the various sectors of the industry.

In April this year Exchange Bond reported that UK and Irish investors owned 3.81 million properties overseas.

It predicted this figure will rise by between eight and ten per cent this year.

Visit Rightmove Overseas for the best selection of Overseas property. Stop dreaming, start searching!