Thomson to sell overseas properties
Thomson is to start selling overseas properties as increasing numbers of people look for a place in the sun.
It will offer properties in Spain, Portugal and Cyprus through its high street network in a move that marks a significant diversification for the company.
Marketing director Miles Morgan is reported as saying it is a “natural step”.
“Thanks to the growth of low cost travel, television programmes about living abroad and people looking to invest in property rather than pensions, owning a home abroad is now a realistic option for lots if people,” he is quoted as saying.
He added the industry has changed “massively” over the years with agents needing to broaden the range of what they sell in order to survive.
The move follows a survey of 1600 Thomson customers which revealed 55% want to buy abroad, as either a first or second home.
The growth of low cost carriers, and relatively low cost of buying abroad, has sparked a trend to buy abroad with Thomson estimating half a million Brits have bought an overseas property, half in Spain. Industry observers say it is one of the reasons why sales of package holidays have fallen.
Thomson, which has joined forces with overseas property firm Parador Properties, hope to sell 1000 homes during its first year. Customers will be able to take a virtual tour of properties.
Report by Steve Jones
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