Brits reject far-flung destinations

From Global Edge

British overseas homebuyers are reverting back to more traditional second-home destinations, according to a survey of 1,200 second-home owners by Savills International.

During the overseas property boom, the proportion of Brits buying outside of Western Europe grew significantly as buyers became motivated by the potential for capital gains. However, since the market turned in September 2008, buyers have returned to the traditional favorites of Spain, France, Portugal and Italy.