Manchester Metropolitan University has teamed up with A Place in the Sun to conduct extensive research into the overseas property buying habits of Brits.
The first phase of the project saw researchers from the University interview visitors and around 70 exhibitors at the 2012 ‘A Place in the Sun Live’ exhibition (pictured) at Earls Court in London last month.
The research will examine who buys property abroad, what factors influence where they buy, what motivates them to buy property overseas, the price of the property, how it is financed and the use of the property.
Exhibitors were asked about their experience of the market, the effect of the global economic crisis, how the market is changing and the factors they think are influencing these changes.
Professor John Swarbrooke, tourism lecturer at Manchester Metropolitan University, said: “Our aim is to become the centre for excellence in the U.K. for independent reliable academic research, for the benefit of the industry, and this project is the first step in the process. There isn’t any real research being done in this area and it’s a big and growing market. This will help us see what some of the big issues and trends are.”
A Place in the Sun Managing Director Andy Bridge added: “The rollercoaster that is the overseas property sector is crying out for credible, independent research, which is why we’re supporting this project as much as we can.”
The project is expected to last up to five years and funding for the first phase at Earls Court is coming from the university.
Professor Swarbrooke is hoping to have the first set of data from the research later this month.
A Place in the Sun is the UK’s leading overseas property media brand, with a national television show since 2000, a monthly magazine, twice-yearly live exhibitions and website. Manchester Metropolitan University is a leading university for the professions and a powerful driver of the North West economy in the United Kingdom.
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