On paper it looks like just another 114-acre farm for sale in a New York rural backwater, but to anyone who follows polo it is where  the sport’s most famous annual events takes place.

The Mercedes Benz Polo Challenge, hosted by the Bridgehampton Polo Club at Two Trees Farm, is a must-attend event on New York’s social calendar with Ralph Lauren, Brooke Shields, Chloe Sevigny, Christine Brinkley and Steven Spielberg all regular attendees. This year the event took place on 24th July and both Amber Rose and Kourtney Kardashian boosted the celebrity count.

But all this is now up for sale and for a lot less than two years ago when the property was first reported for sale. Back in 2008 Two Trees Farm was put on the market by owner and Brooklyn-based developer David Walentas for $95 million but the property is today for sale at $75 million.

Although this sounds like a lot for a polo farm despite the price reduction, Two Trees Farm offers both an idyllic and sought-after location and a lot of property.

It’s near Bridgehampton in the middle of Long Island’s most expensive patch of land, the seaside resort area of The Hamptons – a group of 24 villages and hamlets around the towns of Southampton and East Hampton. The area  is where America’s rich and famous like to own homes and current locals include Renée Zellweger and Nathan Lane.

Anyone considering buying Two Trees Farm, which was bought in 1993 by Mr Walentas for $2 million, has to be into horses. As well as two houses, an eight-unit apartment building (for grooms), pool and tennis court there are three barns, two indoor riding arenas and two polo fields.

The property is currently being sold via the New York office of Sotheby’s Realty International.

What do the British really want when they escape the UK’s drizzly, damp and good-mood murdering weather and flee southward towards sunnier climes to find their much dreamed-of holiday home?

If the brochures are to believed what counts are nearby beaches plus authentic local restaurants or bars and decent shops.

But is this really what British buyers want or merely an idyll? The question has preoccupied many developers and estate agent over the years but now it’s ever more pressing as British buyers become more choosy as the credit crunch bites.

One conundrum is whether we want ‘real’ versions of places like Spain, Portugal or France or merely faux editions that, beneath the stylised architecture, are really little Britains offering the familiar rather than the foreign.

Traditional or new: a recently-built property in Crete that could pass for a converted farmhouse.

Most coastal strips in southern Europe offer both these days. For example, venture over to the Praia D’El Rey resort in Portugal on the country’s Silver Coast above Lisbon and you’ll find a small town of villas and apartment blocks built in a style that mimics that local vernacular but offers a five-star hotel if you tire of cooking your own food.

On the other hand, ten miles along the coast and inland a bit there are country villas for sale built by Lisbonites forty years ago that ooze a bit more authenticity.

There are, though, places where an acceptable middle way can be navigated between new and ‘real’. This is most obvious to see in the Greek islands, and in particular on Crete. There builders know that to attract British buyers – who are usually purchasing with an eye on retirement on the island at some point – they have to offer a fairly unique product.

Because Brits treasure the island for its relatively intact architectural vernacular and the swathes of similar-looking brown-tile roof villas built on some stretches of the Spanish costas over the past decade are usually a no-no on Crete.

Therefore new-build and resale houses on the island have to look like converted farm outhouses but offer all of the comforts Brits expect, as research by island developer Said Marie of Caversham-Barnes recently revealed.

“They told us they wanted a private heated pool with a huge sun terrace, air-conditioning – but also central heating for use during Crete’s brief winter period – gardens and a garage,” he says.

“Those were our design criteria and, because potential buyers can see that we have taken the trouble to build what they actually want, we are selling the properties despite the recession.”

The lesson for buyers currently looking in particularly for a newbuild property overseas is to find a developer which has made an attempt to understand the British – for example it is only recently that high-end kitchens and bathroom have started to become standard within properties overseas, many years after it has been standard in the UK.

It’s one of the most popular countries for people moving abroad, and with year-round sunshine, a good standard of living and a property market that’s not dissimilar to the UK, it’s not surprising. If you’re feeling tempted to head down under, then here are some useful facts on property, emigration and living in Australia.

• Foreign buyers are able to purchase property in Australia, but you may first need to get permission from the Foreign Investment Review Board.

• If you’re renting property, perhaps whilst looking for somewhere to buy, you will have to sign a tenancy agreement and pay a bond, which is usually about four weeks rent in advance.

• Like the UK, property in Australia is bought and sold via real estate agents, but it’s also very popular to buy and sell homes at auctions.

• Non-resident property owners are taxed on Australian income and capital gains tax. This is a rate of between 29% and 45%. If you become a full-time resident, you won’t get charged capital gains tax.

• If you have a permanent resident visa and live in Australia, you’ll need to take an Australian driving test after three months – even if you already have a license to drive in the UK.

• It’s worth bearing in mind that skilled workers are often in demand in Australia. For details about visas, and the Australian General Skilled Migration Program, see the Australian Visa Bureau website.

• If you’re feeling inspired by the new film, Australia, starring Nicole Kidman and Hugh Jackman, then you may be interested to know that it was filmed in various areas of Western Australia, New South Wales, Queensland and the Northern Territory. You can search Primelocation.com for property for sale in Australia.