Thursday, June 09, 2005

Property in Ever-Popular Costa del Sol Spain

Still UKs no.1 Destination

66% of British choose Spain as preferred destination for property purchases abroad(Europa Press)According to a new study by Grupo Lar - a Spanish developer - Spain is the first choice location for 65.7% of British people who intend to buy a second home abroad.

For 17.4% of British respondents the property will be used as a permanent residence in the future, whilst only 0.7% are buying as investors with the intention of reselling.
The MD of Lar Sol - María Jesús De Miguel - explains that low cost airlines, relatively low property prices compared to the UK, and a well established British expat community in Spain all help to make property on the Spanish costas increasingly attractive for British buyers.

Other key findings of the report are as follows:

37.3% of British overseas property buyers choose France, and 27.4% choose Florida.Factors influencing choice of location:
42.3% say climate.
30.6% say personal and cultural reasons.
14.9% say expected quality of life.
12.2% say regular holiday destination.
77.4% say they take the decision of where to buy jointly with their partner and that they plan to buy a detached house.Media used by the British to research and shortlist properties and property companies:
73.9% use the internet.
59% use personal recommendations from friends and family.
56% use local estate agents based in the UK.
47.3% use specialist magazines dedicated to Spanish property and living.
92.5% of Brits have visited Spain at least once before.
4.6% visit Spain for the first time when looking to buy property.Negative opinions towards Spain amongst British respondents:
50% report no negative opinions whatsoever.
12.2% cite insecurity and terrorism.
10.9% cite the effects of mass tourism
10.4% cite poor infrastructure


Post a Comment

<< Home