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Where Do Britons Buy Overseas Property?
The shock of the Brexit referendum of June 23, 2016, when a majority of the British public decided to leave the European Union is yet to wear off. Since then the sterling has hit a 30-year low and is currently worth 1.11 Euro. What does this mean for you if you’re looking to sell overseas property to British buyers?
Well, Britons have always been the biggest buyers of overseas property and the Brexit referendum is unlikely to change that. In fact, there’s been an increase in interest from cash rich British buyers in properties abroad. So where are Britons buying? Which are their favourite overseas property destinations? Let’s find out!
There are over a million Britons living in Spain. Spain is by far the #1 overseas property destination for British buyers. The British expat community in Spain is very strong and is an important part of the Spanish society, especially in Malaga, Costa Blanca, Costa del Sol, Valencia, Barcelona and the Canary Islands.
Spain has a very relaxed and laid back lifestyle, perfect Mediterranean climate, sun shine for most of the year, spectacular beaches and friendly locals. Spain has an open and diverse culture which is very friendly towards British settlers in the country. Over 170,000 Britons own properties in Spain.
France is Britain’s nearest neighbour and relations between the two countries have always been very good. Britons feel welcome in France and for many, it’s a home away from home. Over 200,000 Britons own a home in France.
The most popular regions within France are Provence, Dordogne, Brittany and of course, the French Riviera. Normandy and Britanny are especially popular because of their geographical closeness to Britain, which means many Britons who own holiday homes in these parts of the country can visit on weekends.
Home prices in France have fallen over the last few years. Mortgage rates are at their lowest in history. This is the right opportunity for Britons to invest in overseas property there.
Italy is another country that is hugely popular with British buyers, so much so that 73,000 Brits own overseas homes in Italy. Italy is famous for its beautiful sceneries, fashion, great food and wine, beautiful people, slow pace of life, family friendly culture and fast cars.
British buyers in Italy have a preference for the regions of Tuscany and Umbria. Buying property in Italy is not easy as it is mandatory to apply for planning permissions and land rights. If you want to sell overseas property in Italy it is important to hire a local lawyer for help with the transaction.
Over 20,000 Britons own property in Portugal. The Algarve is the most popular region in Portugal, and it is similar to Spain’s Costa del Sol in a lot of ways. The capital city of Lisbon is also quite popular.
Portugal has an excellent climate, friendly people and a vast coastline. It is also a very safe country with the lowest crime rate in Europe. It is important to hire a local lawyer when attempting to sell overseas property in Portugal.
Contact the Experts Today to Sell Overseas Property Free in 2017.