According to Property Investor Today 1-10 Brits have rebooked property viewings abroad despite the current pandemic. They also state that nearly three-quarters of those looking to buy property in Spain as an example are doing so for health reasons and benefits and are seeking a more active and productive lifestyle in the sun. Many of those seeking to buy property abroad are looking for a new adventure and challenge which is driving investment abroad and suggests that Brits feel that the impact of the current pandemic is all but temporary and are not put off of investing in property abroad.
Spanish estate agents Javea Properties (www.javea.properties) based in Jávea on the Spanish Costa Blanca have seen a steady increase in interest in Spanish property. Already this year they predict an even steadier growth in Spanish property investment especially along the Costa Blanca which boasts one of the healthiest climates in the world and over 300 days of sunshine a year. According to Taylor Wimpey Espana there has been a 40% increase in interest already by investors looking to buy property in Spain
So here are 5 reason why Brits are still looking to buy in Spain:
Climate
Who would not want over 300 days of sunshine a year and warm weather especially along Spain’s Mediterranean coast more or less all year round? Brits will always buy properties in the sun and their love affair with Spain is far from over despite the fallout of Brexit and the current pandemic. They are not easily put off by investing in property in Spain especially along the Mediterranean coast and as discussed before a healthy climate and healthier lifestyle are still very much the driving force behind investment.
Investment
People with the money will always look to invest in property and to own a property in Spain and 2024 looks a very promising year indeed into which to do it. Buyers who are purchasing property for the very first time and first-time investors are increasingly levitating toward buying in Spain and the trend doesn’t look like coming to an end any time soon pandemic or no pandemic or post Brexit. Countries with higher than average salaries find it more affordable to purchase a property in Spain and wish to enjoy their holidays there and can also get a very good return for their investment as they can rent out their properties for the times they are not living there.
Spain is still attracting foreign property investment, even though we are still experiencing the global pandemic, the dream to have a property, whether owned or rented, and with a climate and lifestyle second to none the Spanish property market is as strong as ever. A Crisis has always been a source of opportunity and many investors are increasingly looking to Spain for those opportunities. By the end of quarter 3 in 2024 Brits made up 13% of foreign property investment in Spain, the highest of any foreign investor (source: www.spanishpropertyinsight.com) Spain has not lost any of it’s charm and never looks likely to either in the future.
The Cost Of Living
The cost of living really is much cheaper in Spain compared to many other European countries, as well as it is to rent or own a property, so Spain has become an attractive alternative not only for those who have already retired, but also to those people who wish to move out here and look to live permanently.
Many developers are making a big push to improve on the quality of their projects by offering a higher quality property to their potential buyers by equipping their properties with the latest technologies, second to none facilities in breath taking surroundings. The average cost of living in Spain is €900 per month. This includes rent, utilities, food and drink for one person (source: comparemymove.com)
Lifestyle
Over 70 percent of expats said they enjoy immersing themselves in the culture of Spain so no wonder Spain is often portrayed as the world’s number one lifestyle destination. There are very few countries that can offer such diversity in it’s landscapes, breath taking architecture and historical heritage not to mention a healthy climate and over 8,000 km of beach. 16% of the world’s Blue Flag beaches are in Spain and over 569 beaches carry the Blue Flag.
The Spanish people are friendly have a strong sense of community and come together to discuss, to protest and to celebrate. Age is respected and family is absolutely everything. Spain has recently been cited as the healthiest country in the world, according to Bloomberg. The research took into account several factors that contribute to overall health, such as sanitation, environment and health services. Spain also has the highest life expectancy at birth among EU nations, and one of the highest in the world, according to the UN. By 2040, Spain is also forecast to have the world’s longest life expectancy, at almost 86 years of age. Spain truly offers a better quality of life and it’s healthcare system is the envy of the rest of it’s European neighbours.
Expats
Spain has long been the first choice for many people from the UK to retire to or move out to or simply a country into which to start all over again. With many Brits opening businesses such as bars, restaurants, and nightclubs they have become an integral part to Spain’s tourist economy. With the thriving expat community especially in the Costa del Sol and Costa Blanca regions this is one of many reasons as to why Brits make the move to Spain.
It’s a home from home but with a healthier lifestyle and way of living. Brexit or no Brexit pandemic or no pandemic Brits will always make the move to the sun, the beaches, the warm clear blue sea and of course cheaper living. With low house prices, warm climate and a high standard of living, Spain will always be the preferred retirement destination of many Brits and with 6% of the overall Spanish population made up of expats this just adds to Spain’s continuing appeal.