With ever greater numbers of Brits choosing privately owned self catering villas in preference to Hotel accommodation for their annual holidays, many overseas property investors are expecting 2007 to be a very profitable year.

According to a new report by Saga a third of people in the UK over the age of 50 are interested in purchasing property abroad.

Saga's report reveals that while many people wish to buy a home abroad, a third of those questioned said that they are deterred by the legal complexities of buying a property overseas , while others said that the language barrier presented a potential problem.