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Indie: Record Number Of Britons Move Abroad For Better Life.

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'Record number of Britons move abroad for better life.':

http://news.independent.co.uk/uk/this_brit...ticle346218.ece

Record numbers of people are leaving Britain to live and work abroad, figures show. More than 350,000 men and women are emigrating every year, a rise of 30 per cent in 10 years.

Experts are particularly concerned that the number of people in professional occupations leaving Britain has doubled since 1994.

Figures from the Office for National Statistics show that 359,500 people migrated from Britain to other countries in 2004, up from 236,500 in 1994.

While the outflow of people was offset by 582,000 foreigners coming to live in the UK for at least a year, there are concerns that Britain isproving less attractive to migrants who it desperately needs to plug staffing shortages.

Of the people leaving the UK, 207,600 were British citizens, the highest since current records began in 1991. The number of people in the professional classes emigrating almost doubled from 69,000 to 122,000 in the same period.

[...snip...]

A report by the World Bank last year found that one in six graduates leaves the UK, more than any other Western country. Professor Andrew Oswald, professor of economics at Warwick University, said: "We have a severe problem in holding on to our best graduates. A junior academic economist in Britain will earn about £25,000 a year; in America, they start on about £50,000 to £60,000."

Observers said that the growth in ownership of second homes may also be both a cause and effect of the migration out of Britain.

Enquiries to the currency specialist HIFX about buying a property in Australia have tripled since the beginning of this year.

Mark Bodega, marketing director of HIFX, said: "The traditional markets for buying a second home are France and Spain, but we are increasingly seeing people buy in places such as Australia and Dubai."

In the next 10 years, one in eight people who reaches retirement age is planning to move abroad, according to Alliance & Leicester International.

[...snip...]

The main reason nursing staff are leaving London are low pay and lack of affordable housing.

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The grass is not always greener on the other side...But hey if you don't try you will never find out...Great opportunity to try now whilst waiting for a U.k. H.P.C....When/If you come home property should be more affordable.

Just a thought.

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Guest Bart of Darkness

30 per cent in 10 years, quite an increase.

Interestingly, how long has Phoney B. Liar been PM? ;)

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We are at the beginning of a trend, not the end.

I think a lot of these second homes are being purchased in advance of emmigration/reitrement.

Enquiries to the currency specialist HIFX about buying a property in Australia have tripled since the beginning of this year.

Mark Bodega, marketing director of HIFX, said: "The traditional markets for buying a second home are France and Spain, but we are increasingly seeing people buy in places such as Australia and Dubai."

In the next 10 years, one in eight people who reaches retirement age is planning to move abroad, according to Alliance & Leicester International.

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The missus is from Malaysia and would move back there in a shot given the chance. So this is exactly what we plan to do in 2008/9 if the crash doesn't materialise (it is already in the areas I'm looking to buy so perhaps its a safe bet we won't). The money we'll have saved could well be enough to live on the interest (missus is eligible for an account paying 10% over there).

The only thing that keeps me here is the job (I work at a charity and have a lot of autonomy), family and the vague sense that I might miss the rain and culture if I left.

On the immigrants side - I was at a party of accountants - practicing or studying - all from Pakistan last weekend. None of them plan to stay here including the one who had just set up his own business. His ambition was to save a million over the next five years and then retire in Pakistan (at 35). He left at 10.30pm to go and do some work. I was also struck by the sense of solidarity amongst this group - he was relying on referrals from family, friends and customers - no advertising.

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On the immigrants side - I was at a party of accountants - practicing or studying - all from Pakistan last weekend. None of them plan to stay here including the one who had just set up his own business. His ambition was to save a million over the next five years and then retire in Pakistan (at 35). He left at 10.30pm to go and do some work. I was also struck by the sense of solidarity amongst this group - he was relying on referrals from family, friends and customers - no advertising.

Do you really believe when he says he is going back?

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I just wonder how they collate these statistics.

When I left the UK a couple of years ago I didn't sign any form saying "I'm off now, thanks for the education and the beer, enjoy the rain...." etc.

I can understand the data being generated when people take up official residency and start paying tax in the foreign country that they've settled in, but that doesn't seem to be typical judging by the ex-pats I've met.

So how much faith can you put into these (or any) statistics?

Cheers

LL

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I believe the UK is still one off the best countries in the world but after 25 years of coming under heavy attack by Thatcherism/Blairism there's only so much of a beating it can take before going belly-up.

For variety of culture, history, humour, attitude, tolerance, values, Britian still rules but it you want a home, respect in your job, fairness, security, and live among people who don't look continually browbeaten by everything, etc. there are dozens of places where the grass is greener.

Edited by CrashedOutAndBurned

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Didn't someone post something about IR changing the rules, and taking a hefty tax on people taking pensions abroad?

Am waiting for similar move on house capital gains. Would this be workable? After all, the only reason they have increased so much is because of Gordon's miracle economy?

btp

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Didn't someone post something about IR changing the rules, and taking a hefty tax on people taking pensions abroad?

Am waiting for similar move on house capital gains. Would this be workable? After all, the only reason they have increased so much is because of Gordon's miracle economy?

btp

Hi,

Yes, I am pretty convinced about that, compared to other nations. I have been through the French property market before which has similarities to much of the rest of the national housing systems over the channel. If you try to flip property in under two years, you get stung by big capital gains taxes (there are some exemptions but in the most part, flipping property will present you nice big tax bills at the year end). You need to hold property for 5-10 years before you walk away from resale taxes. You also have higher setup costs and the estate agents are legally bound to be neutral, not to be acting solely in the sellers iinterest (of course, it's never tht perfect but a noticeably more pleasant procedure than dealing with uk agents). There is a lot of bureacracy for sure but it does help cut down the rampant boom and bust cycles (at least out of the big hotspots like central Paris and CdA). I wonder how long before Gordy goes looking for more tax revenues on housing resales?

Edited by boom_and_bust

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I just wonder how they collate these statistics.

When I left the UK a couple of years ago I didn't sign any form saying "I'm off now, thanks for the education and the beer, enjoy the rain...." etc.

I can understand the data being generated when people take up official residency and start paying tax in the foreign country that they've settled in, but that doesn't seem to be typical judging by the ex-pats I've met.

So how much faith can you put into these (or any) statistics?

Cheers

LL

In my case, and doubtless many others, the P85 would be a good starting point.

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Do you really believe when he says he is going back?

).

I don't know for sure - but all but one of my missus' overseas friends who she first met at church around five years ago (Canadian, Pakistani, Malaysian, American, Australian) have gone back home. The one who stayed is a Dutch lass who married a Brit.

Oddly enough none of them tend to think the quality of life is particularly great here but UK pounds go a long way elsewhere so worth staying to save some cash and then go home.

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Didn't someone post something about IR changing the rules, and taking a hefty tax on people taking pensions abroad?

Am waiting for similar move on house capital gains. Would this be workable? After all, the only reason they have increased so much is because of Gordon's miracle economy?

btp

If and when Gordon does this, I think you can assume that there will be an even bigger incentive for the government to let inflation run riot - reduces people's (and the government's) real level of debt, moves income into higher bands for taxation, then also inflates taxable capital gains on assets. Only hurts savers such as you prudent ones on here. So the moment this is announced or seriously discussed, I would sell what few sterling assets I still have.

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Recent research by Barclays Bank suggested that a staggering 37% of British people surveyed said that they were considering buying a property abroad with a view to leaving Britain in the future.

Top countries for Brits planning to buy abroad

1 Spain (inc Balearics and Canary Islands) 30%

2 USA 15%

3 France 14%

4 Italy 10%

5 South Africa 6%

6 Dubai 5%

7 Portugal 5%

8 Bulgaria 3%

9 Croatia 2%

10 Morocco 1%

11 Don’t know 9%

There’s no doubt that buying and selling property in the UK can be a minefield, especially for the uninitiated or inexperienced. However that pals into insignificance when you consider the additional pitfalls that can await you in buying abroad.

Well over a million Britain’s now own holiday homes abroad. Our love affair with owning ‘a place in the sun’ has never been greater. As ever Spain, France, Italy and Portugal are proving popular. More recently as prices have been pushed up in these countries we’ve looked further a field. To places like Slovenia and Croatia in what was the old Yugoslavia. You cant beat the Dalmatian coast only don’t dig too deep in the back garden, as mass graves are commonplace and 20,000 bodies are still unaccounted for. They don’t put that in the sales presentation. Recently Latvia, Bulgaria and Romania are being pushed as the next hot, ‘Fly to Buy/Fly to Let’ leading edge locations. When buying abroad its important to recognise that the laws, processes, customs and practice, for the transfer of unencumbered title to land and property, are not the same as in the UK. We hear horror stories, where unsuspecting Brits having bought abroad, only to find themselves with no end of problems, having either been duped or failed to take appropriate precautions. Be it problems with the escritura (title deed) in Spain, Villas built on war expropriated land in Northern Cyprus or inheritance/tax issues in Monrovia. As mentioned earlier with countries like Romania and Bulgaria now being pushed as destinations to buy holiday homes, where next? Ski lodges in Nagorno-Karabakh, just 8 days yak ride from Baku international airport. Or Beach Villas on the Aral’s Sea health Spa, specialising in chemical body scrubs, with all the toxic pollution you can drink. Prices start at 3 million Dram (£15,000), 10% discount if you buy off plan. Legal title guaranteed by The South Caucasus Development Corporation of Kazakhstan All deposits underwritten by the Bank of Chechnya, as advertised on Channel 4 by the regional goodwill ambassador Borat! Don’t miss this ground floor investment opportunity of a lifetime.

Don’t let the next, up and coming, leading edge location that’s being pushed as a must have investment, turn from leading to bleeding edge for you. It seems that on arrival in a hot country the normal caution we would exercise when about to spend (and in most cases borrow) a life changing amount of money, goes out of the window. Maybe it’s the heat, the warm sea, the swaying palms and unfamiliar, intoxicating, aromas of the exotic, which relaxes our guard. Alternatively it could just be that our natural caution is blunted by materialistic desire, brought on by greed, masking itself as a dream in which we naively part company with commonsense.

Been there done it. Most will be back with in 4 years older, wiser and a lot poorer!

Pablo Silver or Lead?

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Who says you have to buy abroad, rent is often cheap and flexible.

Try before you buy ;)

As they say don't leave your brain on the plane.

Edited by winkie

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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