One third of Brits seek property abroad
The Brits' love of property and of property investment is legendary and it appears to be a passion that is growing stronger.Partly thanks to the number of property investment programmes on television, more and more couples are deciding to retire abroad, while thousands of others decide to invest in foreign property to make money through a mixture of capital growth and rental income.
According to a new survey, almost a third of Britons say they are interested in buying property abroad or indeed moving abroad, with Spain continuing to lead the way in Europe.Based on research from Banco Halifax Hispania, the Spanish arm of Halifax, America and Australia are the favourite choices for potential property buyers, however, which is perhaps tied to family issues.
Nonetheless, in third place on the overall list, Spain is clearly still exceptionally popular with property seekers, helped by the enviable climate and a track record for strong house price inflation.With cheap flights running regularly between the UK and a number of Spanish airports, transportation is also much easier for those buying a property in Spain, whereas lengthy and expensive flights to America and Australia make it an awkward choice for people who would like to make trips back to see family and friends.
Despite rapid growth in the Spanish property market for a number of years, British investors still find they can get hold of stunning villas for extremely competitive prices, while the quality of life in Spain attracts a huge number of holiday home purchasers every year.Rental yields in the likes of Murcia are also generally high, meaning investors are often tempted to buy a property there with the exclusive aim of renting it out for a number of years before potentially moving down to live.
While buying a foreign property is becoming much easier thanks to the guidance of experienced experts, Banco Halifax Hispania has stressed there are certain things that everybody much consider before making the decision.Arranging a bank account is one such consideration, while deciding what will be done with any property in the UK is clearly another. It is also worth considering any inheritance tax rules that could be different from the UK, while registering residency status with both the Inland Revenue in the UK and the authorities abroad is also important.
Opportunities for foreign investment are now greater than ever and as demonstrated in this new research, it is also clear that Spanish property is as popular as ever.
Story from Assetz news
Discovered for you by HOMES & FINCAS, Ayamonte, Costa de la Luz, Spain
According to a new survey, almost a third of Britons say they are interested in buying property abroad or indeed moving abroad, with Spain continuing to lead the way in Europe.Based on research from Banco Halifax Hispania, the Spanish arm of Halifax, America and Australia are the favourite choices for potential property buyers, however, which is perhaps tied to family issues.
Nonetheless, in third place on the overall list, Spain is clearly still exceptionally popular with property seekers, helped by the enviable climate and a track record for strong house price inflation.With cheap flights running regularly between the UK and a number of Spanish airports, transportation is also much easier for those buying a property in Spain, whereas lengthy and expensive flights to America and Australia make it an awkward choice for people who would like to make trips back to see family and friends.
Despite rapid growth in the Spanish property market for a number of years, British investors still find they can get hold of stunning villas for extremely competitive prices, while the quality of life in Spain attracts a huge number of holiday home purchasers every year.Rental yields in the likes of Murcia are also generally high, meaning investors are often tempted to buy a property there with the exclusive aim of renting it out for a number of years before potentially moving down to live.
While buying a foreign property is becoming much easier thanks to the guidance of experienced experts, Banco Halifax Hispania has stressed there are certain things that everybody much consider before making the decision.Arranging a bank account is one such consideration, while deciding what will be done with any property in the UK is clearly another. It is also worth considering any inheritance tax rules that could be different from the UK, while registering residency status with both the Inland Revenue in the UK and the authorities abroad is also important.
Opportunities for foreign investment are now greater than ever and as demonstrated in this new research, it is also clear that Spanish property is as popular as ever.
Story from Assetz news
Discovered for you by HOMES & FINCAS, Ayamonte, Costa de la Luz, Spain
posted by HOMES & FINCAS at 5:40 AM
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