A life in the sun has been a favourite dream with the British public for years, with many retiring to warmer climates. With direct flights to some favourite expat destinations costing little more than a meal out, the ability to jet abroad for some respite has never been easier. This blog will reveal the best global destinations for the public to buy a holiday home with scope for setting up for retirement too.
Spain
Spain has been a timeless favourite ever since the 60s and 70s for many Brits. The country continues to be an extremely popular holiday destination year on year, with 82 million tourists visiting España in 2018. As of February 2019, Spain holds the number one spot globally for international tourism according to TourismRank and the industry is growing constantly. With a laid-back culture, fantastic food and balmy weather all year round, it is no surprise that Brits are purchasing second homes in Spain.
There are an estimated expat population of 250,000 UK nationals living in Spain, with almost 50% of British dwellers spread across the provinces of Costa Blanca and Costa del Sol. Given the country’s substantial British population it is the first port of call for Brits wanting to purchase a holiday home to escape the winter blight.
The Spanish property market is a tale of two different stories. Spanish cities and tourist hotspots are enjoying a regeneration; fuelled by an economic recovery, increased investment and demand from foreigners. However, if you travel outside of the main cities or towns, there are still several empty properties and many Brits get far more for their money in rural locations.
Although Brexit has had an impact on the buying power of the British, they remain the number one foreign nationality buying property in Spain – both as expats and holiday homeowners. The property prices across the country differ significantly, but the most popular places to buy holiday properties in Spain are Torrevieja, Murcia and Estepona.
France
A short trip across the Channel, France offers the humble tourist or British expat affordable, charming properties in picturesque villages. Buying property in France has always been a popular choice for many nationalities across Europe due to the quick flights and ease of access via car.
The South of France and the Dordogne tend to be the most popular regions for UK citizens to buy a second home.
The Provence region in south-eastern France is one of the most attractive locations for UK citizens to buy a second home. Vineyards and olive groves give way to pine forests and lavender fields, with white chateaus hidden in the landscape around rural villages. Property can be purchased for as little as €200,000 and many Brits looking to secure a retirement in this area will often renovate these incredible properties.
There is no surprise that the French Riviera and the Alps remain similarly popular and desired places to buy a holiday home, but property prices are dramatically inflated due to their increased demand in these tourist-heavy locations.
Greece
A rich tapestry of ancient history, art, culture and cuisine, Greece is one of the most popular destinations for Brits to emigrate to or buy a holiday home. Although the economic crisis in 2008 hit Greece’s economy hard, tourist numbers did not dip.
Greece’s distinct variation in landscape from the mainland to the jewel-like islands which make up the country provide an array of different locations for UK citizens to consider. Many expats champion Greece for its authenticity; unlike other popular European destination it has escaped harsh modern development.
As Greece is spread apart, property prices vary massively as demand changes across the mainland and Greek Islands. In addition, Brits should bear in mind Greece’s tourism industry, with flights during peak season bearing a heavier price tag compared to the cooler months.
Undoubtedly Mykonos and Corfu are two of Greece’s most popular locations to buy a second property. Luxury homes in these areas can edge well over €1 million. However, small apartments can easily be snapped up for as little as €50,000.
Portugal
Portugal is one of Europe’s premier travel destinations, so much so that many Brits are purchasing holiday homes in the country or emigrating there altogether. Welcoming over 7 million visitors a year, Portugal’s stunning beaches, comfortable climate and relaxed way of living put it high at the top of many relocation destinations.
Although Portugal is a sizeable country, most British holidaymakers and expats flock to the Algarve. Emblazoned with golf resorts and quaint fishing villages atop of sun-drenched coves, the Faro District in its entirety is a dream location for a second home.
For those looking to buy in the Algarve, prices around the 5-star resorts are pushed to a premium; you can buy a three-bedroom apart for around €500,000 but villas will cost you around €1 million. When you move further inland, your money goes further and can purchase a 4-bed villa for around €600,000.