Spain tops list of property hotspots for Brits looking to buy abroad
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Brits are fantasising about a new life abroad, with Spain, France and Portugal topping the majority of wish lists.
Searches in May were at their highest point for the year according to Rightmove Overseas, as well as being up 33 per cent on 2019.
Ibiza saw a particular spike in interest on the site, up 174 per cent on a year ago. This is likely due to the success of Netflix drama White Lines, which is set on the party island.
Rightmove has seen a surge in interest in sunny European destinations, with searches for Spain up by 34 per cent year-on-year, compared to a 33 per cent uplift for France and 26 per cent increase for Portugal.
Those searching are a mix of people considering a relocation, those thinking about buying a holiday home, and others who are simply dreaming of a trip abroad after their holiday was cancelled.
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There has also been an increase in new people entering the market: the number of new users on Rightmove Overseas last month was 41 per cent higher than in May 2019.
Rightmove’s Miles Shipside said: “Lockdown has allowed many people time to re-appraise their lives, which has prompted lots of home-hunters to get serious about buying elsewhere in Europe.
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“In particular, countries such as Spain, France, and Portugal have cultures that are familiar to us, and their warmer climates and reasonably priced rural stock will appeal to those who have been recently denied foreign travel.
He added: “Social distancing would be far more straightforward if you’re lucky enough to be able to afford your own overseas pad. If other holiday-makers feel the same, then they may wish to rent your property, helping it bring in an income when you are not there.
“It’s still early days as we’re not out of lockdown yet and most airlines are still shut, but this is an indication that this has been a life-changing period for many who are re-appraising both how and where they want to live.”