31.01.2008

About five per cent of all British people, a total of 2.1 million people, own a family villa or other property overseas, the web site countrylife.co.uk reports. The figures are from the UK's Office of National Statistic research.

Typically, second homes are a country house, but a rising number own buy-to-let investment property in town and city centres, the web site reports.
The most prized locations for second homes are the Norfolk, Cornwall and Devon coasts. Another popular place is central London, where young couples or families with their main home in the country own pied-a-terres.

The ONS's Wealth and Assets Survey also points out that 850 000 Britons (two per cent of adults) have bought a second, or even third, home abroad. The most popular countries are Spain, France and Florida.

The report predicts the number of British people owning overseas homes will jump to two million by 2025. There are two types of overseas home-owners - pensioners who want to escape the grey British winters for warmer climes - and wealthy Britons over the age of 45.