SPAIN IS STILL THE NO.1 HOLIDAY HOME DESTINATION ACCORDING TO A NEW SURVEY
SPAIN IS STILL THE NO.1 HOLIDAY HOME DESTINATION ACCORDING TO NEW SURVEY
More people than ever are considering buying abroad than before the economic crisis, according to research from the HSBC bank.
The average client between 45-64 currently thinking of buying an overseas holiday home has risen to 38% (5.4million) in 2013, up from 30% before the financial crisis in August 2006. One in 10 (592,400) say they definitely plan to buy abroad.
TOP 10 HOLIDAY HOME DESTINATIONS:
Spain 26.2% France 15.5% Italy 9.5% Portugal 6.7% Greece 6.7% Cyprus 5.2% Caribbean 5.2% Balearic Islands 4.3% Florida 4.0% Turkey 1.9%
HSBC spokesman James Thorpe said, "The combination of predictable weather, multiple departure points, regularity and cost of flights, distance from UK, domestic services (healthcare etc.) and value for money have all maintained Spain as the number one destination."
James Yerkess, HSBC Head of Foreign Exchange, explains, "The economic downturn has had an impact on the income and savings of many but it has also helped lower the price of property in numerous overseas locations.
"Many of the baby-boom generation, who are now approaching retirement, are fortunate enough to remain relatively asset-rich despite recent economic frailties and this has opened up opportunities to take advantage of lower property prices abroad.
Two-thirds (66%) are looking for a home on the coast, while 23% prefer the countryside, 6% the mountains and 5% in a large town or city.
36% preferring a one to two-bedroom apartment, 29% want a similar-sized villa and 26% a three to four-bedroom apartment or villa.
Around a quarter (26%) would rent out their property when not in use, using the rental income for mortgage repayments and additional income.
Top areas like the "Costa Del Sol" are now much more affordable with brand new luxury properties being sold by the banks with up to 60% reductions.
You can find a sample of some of these clearance deals, in the main menu under (Hot Properties).
It is being widely reported that Spain's property market is finally levelling out and both viewings and sales have already increased. The market will obviously take time to fully recover, but the best deals will be snapped up first. We have many properties available at over half their original value, so it's now a buyers market and a great time to pick up a genuine bargain in Southern Spain.
If you are planing a viewing trip to Spain in the near future or would like to discuss property criteria, preferred areas and the buying process etc. please simply complete/submit the contact form with the best telephone number/times for us to call and we will contact you as soon as possible.
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