Brits find new reasons to invest in Spain
According to research recently published by a leading international property developer, the British are changing their reasons for buying in Spain and the results may surprise you...
The British have always been interested in the Spanish property market due to the beautiful coastlines, temperate Mediterranean climate and Spain’s proximity to the UK. Traditionally however it has been the older generation, seeking to spend their retirement in the sun while close enough for visits to and from their families in the UK. It seems that times are changing – figures attached to the research show that the younger generations are flocking to Spain, often with young children. The family oriented way of life on the continent is appealing to young people and with the increasing interest in golf and golfing holidays, Spain is attracting a whole different clientele.
The reasons for buying in Spain have shifted dramatically, with only approximately 4% of UK buyers in Spain now choosing to buy for retirement; it’s the holiday home that has become the overwhelmingly popular choice for the majority. Figures show that so far in 2010, 80% of Brits who have bought Spanish properties are actually aged between 30 and 55 years of age, and only 19% of purchases are coming from the over 55s – last year the figures were 68% and 31% respectively so the trend is clearly increasing.
Despite the well-publicised near collapse of the Spanish property market, and of course the global economic downturn, the numbers of investors in the market is remaining steady – budgets have of course fallen but interest is clearly still strong, perhaps due to the number of bargains investors can now find thanks to the widespread repossessions across the country.
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