A growing number of Britons are opting to rent out property abroad during the economic downturn, an expert has claimed.
Dennis Klett, co-founder and director of online holiday home marketplace Domegos.co.uk, said many people are opting to rent out homes in European countries, such as Spain, to minimise the adverse effects of the economic downturn.
"Europe has been a huge market for a long time," he commented.
"With people who already did it [rented out holiday homes], they continuously try to market more and more on the internet," Mr Klett added.
He said that one of his company's strongest markets at the moment is Spain.
Now could be an ideal time to buy property to rent out, particularly as property prices in Spain have been steadily declining in recent months.
According to Paul Bradley, a spokesperson for the Spanish Property Owners Guild, prices have not yet bottomed and they are likely to fall by seven per cent this year.
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