Brits are said to favour buying property in Spain and other nations overseas because of the warmer climate and appealing investment opportunities on offer.
Overseas property buyers are most attracted to properties that are located in sunnier climes and offer opportunities for their investments to grow.
Recent statistics show that Spain and France are fast becoming investment hotspots.
Investment in French property topped the charts with 35 percent of buyers looking at purchasing a property in France, while Spain followed close behind with 16 percent of buyers considering making a holiday home purchase in the country.
According to James Price, head of international residential development at Knight Frank, individuals hopes of owning a property in the sun have “become a reality for so many rather than the dream it once was for all but a few”.
He continued to comment that individuals aspire to buying real estate abroad, and that climate and culture have a greater bearing on their decision making compared to factors such as economic stability.
Marc Pritchard, sales and marketing director at estate agents Taylor Wimpey de España, said it is not just British buyers who find Spain the ultimate holiday home destination.
Earlier this month Pritchard revealed that there had been an increase in the number of Scandinavian, Dutch, Belgian and Danish investors, all of whom are targeting Spanish property. Costa Blanca is proving to be the most popular region among buyers from these nations.
Transferring money to Spain
If you are looking to invest in Spain, think carefully about how you will be transferring money to Spain. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.
So if you are sending money to Spain – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.
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