As the economy at home continues to splutter and wheeze, increasing numbers of affluent Britons are looking to move abroad, according to currency exchange specialists HiFX.

The company reports that the number of enquiries they’ve received regarding emigration has increased by 30% so far this year. Interestingly, though, actual relocations have increased by only 10%.

So more and more of us dream of finding our own place in the sun, and with good reason – several good reasons, in fact. Without being too spectacularly doom-and-gloom about it, the UK’s rising cost of living, frustrating tax system, increasing crime rates and depressing weather are casting a rosy sort of glow on places like France, Morocco and Spain.

Spanish sunset

Another great reason to take the plunge, as if we needed one, is the ever-growing ease of working abroad. Technology advances allow many of us to commute via the internet, while for others there are new and exciting career opportunities in increasingly globalised places such as Dubai – opportunities may not necessarily exist for them in Britain.

But still, the comparatively mild 10% increase in people actually diving into a new life abroad is troubling. It seems that even though we’ve set our sights on sunnier climes, the property market at home is determined to rain on our parade.

The thing keeping many people from their fantasy of jetting off to a new life abroad seems to be the old ball and chain that’s dragging them back to Blighty – the house that they just can’t seem to sell. Without the equity from the sale of their home, most people don’t feel they can afford to emigrate and have resorted to delaying the big move.

Unfortunately, because visas must be activated within one year of issue, speeding up the process becomes a far more pressing issue for many. Unless presented with an alternative to sale, some people may find themselves enjoying the gloomy weather for many years to come. HiFX notes that UK homeowners keen to move abroad might consider renting their property instead of selling it, or perhaps switching to a different type of mortgage.

For those with capital behind them, though, there doesn’t seem to be much of a hold-up. The mass exodus is expected to continue dramatically over the next year, and frankly with some of the amazing properties (not to mention amazing value for money) we’re seeing in places like Portugal, the United States and Italy, we’re not surprised.

This entry was posted on Monday, August 18th, 2008 at 6:12 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.