05 February, 2014

By VIVA Team

The appeal of Spain never waned, even during the lean years

Brits in search of a second home overseas overwhelmingly opt for Spain, according to a recent survey by British property portal Rightmove.

After polling 3,000 people in autumn last year, of those in search of a second home abroad, 37 per cent said they would choose Spain, ahead of France in second place with 23 per cent of the vote…

France, however, took top spot for those hoping to emigrate for good, beating out Spain, Greece, Cyprus and Italy.

“Spain has always been a popular location for buyers and this report shows that it is set to become even more popular,” said Rightmove’s head of overseas, Shameen Golamy. “As well as people looking for a place for their perfect holiday home, there are also those looking to buy as an investment due to the number of rental opportunities buying a property in Spain will bring.”

The poll found that 13 per cent of those looking for property overseas wanted to do so for investment purposes, with a massive 51 per cent in search of a second home. In contrast, 36 per cent were looking to move overseas permanently, the majority of this group thought to be of – or approaching – pensionable age.

Another survey by the Overseas Guides Company in late January also concluded that British buyers are set to have the upper hand on Spanish property in 2014, buoyed by a strengthened economy, a strong pound and a domestic property market that is once again showing signs of entering a bubble, forcing many would-be owners to look overseas, and tempting a number of current UK homeowners to cash in and fulfil their dream of owning a Spanish property.

“Scandinavians were prominent buyers in the Mediterranean in 2013, thanks largely to the economic buoyancy and strong currencies of their countries giving them serious buying power,” said Richard Way, Editor at The Overseas Guides Company. “It’s the turn of the British buyer to return to the overseas market in force – especially as the pound is expected to maintain and possibly gain value in coming months against the euro.”