SPAIN remains top of the list when it comes to Brits looking to buy a home in the sun – and it looks like there could be a surge in sales on the horizon.
A new report shows that interest in buying a European property is set to boom, even while there is still some uncertainty in the possibility of traveling abroad.
Kyero.com, indicates that almost 40% of prospective buyers are now actively viewing or planning viewings abroad.
The research, which involved more than 2,500 overseas buyers, found that Spain remains by far the most popular destination for British overseas home buyers, with 90% of all those polled looking to buy in the country.
And half of them aim to take the property plunge within the next three months to a year, and a further fifth (19%) stated that they wish to move ‘as soon as possible’.
Moving abroad is a lifelong dream for many people with 28% respondents saying they have wanted to move abroad for more than five years.
In terms of budgets, the most common (45%) budget is €100,000 – €250,000, although a significant 35% are looking to spend less than €100,000. Some 13% have a budget in mind of between €250,000 – €500,000 and 3% have up to €1million to spend..
Martin Dell, Founder of Kyero.com says: “Now that lockdown is lifted and overseas travel for reasons relating to property is becoming possible, we’re seeing a tsunami of pent-up plans being put into action. Some 52% more people searched online for homes in Europe in the first three months of 2021 compared to the previous quarter, and now that people can start turning those dreams into reality, we’re expecting to see a lot of transactions take place in 2021.
The Kyero research comes as restrictions on overseas travel ease with Portugal now on the government’s green list. While Italy, Spain and France are now on the amber list of countries, you can travel to them for reasons related to home purchase, rental or letting, depending on the latest travel guidance of the destination.