Buying Property Abroad (UK Investors)
Spain has always been very popular with UK investors and homebuyers. According to Kyero, ”one in three want to retire to Spain”.
Spain has everything you could possibly wish in a retirement location – the warm sunny climate, large UK expat community, low cost of living, beautiful beaches, spectacular landscape, healthy outdoor lifestyle, less crime and significantly less stress.
In a survey of 400 people from the UK, Kyero found that 26% of them saw Spain as the ideal retirement location because of the “warmer climate, sociable atmosphere and reduced taxes”.
It’s no wonder then that “Britons invested £12 billion in Spanish property in 2004/05”. The average price they paid for properties a reported £160,000, according to Kyero. The typical type of investors is male between 40 and 60 years old.
It’s not just UK investors who have an interest in Spain. Kyero regularly get enquiries from the Portuguese, American, Dutch, Japanese, Canadian, Australian and Swedish. It appears that everyone wants a piece of the Iberian Peninsula.
Properties Type & location
When it comes to Spain, Britons are mostly looking for studio apartments. Two and three bedroom villas are also highly sought after. The majority of UK homebuyers are looking for a Spanish resale property.
On Gran Canaria (Canary Islands), there’s a big demand for one-bedroom apartments with a swimming pool.
In Alicante, on the eastern coast, three bedroom apartments are a popular choice and in Girona (Northern Spain) UK homebuyers are largely looking for three bedroom villas.
The survey revealed that on average, UK investors are willing to pay between €150,000 to €200,000 for property in Spain.
According to the survey, 97% of the respondents said location was one of the most important factors when choosing a property. The most popular parts of Spain with UK homebuyers are Alicante, Granada and Malaga.
Accessibility is also important. People need to be close to amenities. The most important ones being shops, the local hospital, bars and restaurants, chemists, public transport, the police station and the airport.
Finding the Right Property
The Internet is undoubtedly the most useful resource for anyone looking for properties abroad. It provides everything from property listings and local area information to mortgage advice and buyer’s guides. 71% of those surveyed said they were using it to find information.
For a comprehensive range of overseas investment property listings try the following link – Diasoleadoinvest.com
Brits Around the Globe
The past few years have seen growing numbers of UK residents emigrating abroad to sunnier, more exotic locations, in what looks like a mass exodus.
There are now over 40 nations with at least 10,000 permanent British residents, according to a recent survey by the Institute for Public Policy Research (IPPR).
Spain, France and Italy are still some of the most popular locations for UK investors and homebuyers but there also been a growing trend towards more far-flung destinations.
In the United Arab Emirates (including Dubai) there are 55,000 UK nationals, Pakistan is now home to 47,000, in Singapore there are 45,000, Thailand has 41,000 and China has 36,000.
With the increase in the numbers of budget airlines and more and more direct flight options, people are travelling now more so than ever before. The world appears to be getting smaller and smaller.
Overseas investors are thirsty for new destinations and opportunities. They’re eager to find new emerging markets or discover new areas in established markets. In order to maintain sales, estate agents and developers are having to adapt and cater to this more globally demanding investor.
They now need to be able to provide access to property listings and area information from as many locations as possible – everywhere from Cape Verde to Slovakia and way beyond.