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22/11/06 -
More First Time Buyers Look to Spain |
UK residents buying a home in Spain, has for the most
part, been a second-home or retirement purchase. But an international report points to an increasing number of under
25s getting on the property ladder aboard, while they can’t yet purchase a house at home.
The gap between the ground and that first step onto the property ladder is so great in the UK that most under 30’s
are to stay at home or rent for longer today than ever before. According to a recent survey the number of under 25’s
who own their own home has decreased from 35% to 22%, the lowest in two decades, house prices are almost five times
higher than that of 20 years ago.
Owning overseas property is becoming more favourable for first time buyers as it is often cheaper than in the UK and
the returns can make for an excellent investment. It is also a lot easier to buy overseas property than you may
think.
Spain is the most popular choice to own a second home making it a land of opportunities for those new to the
property market. A survey commissioned by Atlas International confirmed that 22% of those aged 16-24 years were
considering purchasing property abroad as their long-term aspiration. With property prices starting from £65,000 on
the south coast there is more to Spain than sun, sea and sangria.
Why is Spain the number one destination?
* It’s close to home. Spain is a mere two hours away and flights throughout the UK and Ireland are inexpensive and
frequent. If you are looking for a buy-to-let purchase or simply a place to spend multiple short-breaks throughout
the year, Spain is the first choice. With some of the best beaches in the world and annual average temperatures of
18°C, Spain will always be a popular destination.
* It’s a central base in Spain. This could be your start to discovering Spain, whilst property prices are still
relatively cheap, an investment here doesn’t have to restrict you to the south coast. Madrid is a 3 hour direct
train journey from Alicante, so visiting the Spanish capital is easily accessible.
Make the most of the Mediterranean with the world famous coast of Tarifa in Andalucia, the most southern part of
Europe. The wind here blows throughout the year, making it the perfect climate for surfing and wind surfing. There
is also the island of Tabarca, just 11 nautical miles from Alicante, a popular location for snorkelling.
Further south in Almeria is the Sierra Nevada, Spain’s number one location for winter sports. With five months of
snow between November and April, a holiday during the winter is just a short drive from the coast. Ibiza is a 30
minute flight away from Alicante airport if you want to cross over to this Balearic Island.
* Bricks and Mortar. Buying overseas property is a lifetime investment and the options are flexible to suit your
needs, for example choosing to rent your property and then later use as a holiday home or for when you retire, it’s
totally up to you.
Spain has seen one of the largest economic growths in Europe over the last five years with regards to property and a
continuing strong economic growth and low interest rates confirming that Spanish property is a good investment.
* Work in Spain. To relocate permanently or as a stop gap, having your own place in Spain can make this a real
option. As an EU member, working in Spain is not too dissimilar from here in the UK. With a minimum of 30 days
annual leave and 12 public holidays a year, Spain has to be the ideal place to work. |
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