Economic problems in the UK are contributing to a surge in the number of people moving abroad.

According to the Office for National Statistics, more than 200,000 British nationals chose to pack their bags and relocate in 2006 - a record amount under the current measuring system.

However, BuyAssociation has revealed that during the last year, it has seen a seven per cent increase in the number of enquiries into emigrating to another country.

Speaking to the Telegraph, property editor Paul Collins said this is partly because of the continuing economic difficulties in Britain.

Mr Collins said the ongoing financial problems have led to many people making "decisions about their future that they have been considering for some time".

He added that a growing number of people are choosing to settle in non-European destinations, such as Morocco.

The country was said to offer attractions such as new property developments and good governance.

This comes after FinancialAdvice.co.uk said more and more expats from the UK are moving to long-haul destinations.

 

The appeal of moving overseas is greatly increased for Britons in times when the economy is struggling and the costs of living are high, a property expert has suggested.

High day-to-day expenses are encouraging UK residents to look at foreign properties in order to get the most out of their money, according to BuyAssociation.

While property purchase abroad has risen steadily in the last 20 years, the last five have seen a steeper increase in the number of Britons looking for low-cost property in Spain, France and even emerging markets.

Paul Collins, property editor at BuyAssociation, said: "When times get tough in the UK, if they were thinking about moving overseas it makes their mind up for them."

A recent study by Datamonitor concluded that 3.81 million Britons already own properties abroad and predicted that the expatriate market is likely to double in value by 2012.

Those thinking of purchasing a property in Spain may be encouraged to learn that experts believe that the market will recover.

Despite a dip due to the credit crunch and an over abundance of Spanish properties and shortage of buyers, it is believed that the balance will return and prices will begin to rise again, according to the Telegraph.

Now may be an excellent time to invest in property in Spain as developers may be willing to sell for as much as 30 to 50 per cent below the asking price.

Brennon Nicholas, a local property industry professional, commented: "We believe the market will come back in the next two years … If we can get the credit crunch out of the way, there are a lot of positive things happening on the coast."

A UK-based private equity firm Benson Elliot Capital Management has recently bought 70 per cent of a Spanish development company in order to take advantage of the drop in the price of real estate in the country.

Owners of investment property in Spain could soon find they have a healthier rental income in the winter months, if plans announced by industry minister Miguel Sebastian work.

In a speech delivered on Thursday, Mr Sebastian outlined measures to combat the impact of the credit crunch and economic slowdown on Spain, reports Thomson Financial.

The two key strategies he detailed were moves to encourage more people to buy new cars and efforts to increase tourist numbers.

Tourism is already a vital sector of the Spanish economy, with thousands of visitors from across Europe heading to its beach resorts and the cultural centres of Madrid and Barcelona every year.

However, Mr Sebastian insisted there is room for improvement, adding: "We need to make tourism less seasonal."

His masterplan to do this involves running campaigns to persuade more retired people to holiday there in the winter - a move which could mean people with investment property in tourist resorts are able to claim rent during usually quiet periods.

Beatriz Corredor, the country's minister for housing, recently said now is the "right moment" to buy property in Spain because the current lack of demand from house purchasers means prices are low.