Almost by way of re-affirming our message from the other day about the relative affordability of Spanish property within a European context, a study was published last week showing that Spain is the most attractive destination for future second home acquisition…
The survey showed that 19.3% of those asked would buy a holiday home in Spain over anywhere else, relegating Portugal and France into second and third place with 13.2% and 13.1% respectively.
Also according to the survey, just under half of all second homes in Spain (44%) are owned by foreigners. Unsurprisingly, due to the Brits’ long-standing love affair with the quality of life here, UK buyers account for an impressive 19% of this total, while the Germans (12%) and the Dutch (4%) are the next biggest contributors.
The UK and Holland are the two nations whose citizens have the greatest propensity for buying a second home outside of their motherland, while, by contrast, Spaniards elect to buy within their own country in a whopping 95% of cases.
Evidently, then, the people of Spain know they’re onto a good thing and it is not just foreigners who are desperate to own a slice of heaven in areas such as the gorgeous Mediterranean coast, for example. Indeed, the Costa del Sol is one of the top three most popular Spanish holiday home destinations, along with the Canary Islands and the Balearics, and is therefore the most sought-after mainland area for real estate.
With the average purchase price paid by a Spanish second homeowner as low as €245,000, based on the survey’s sample, investment property last year was 22% cheaper than it was 10 years ago.
And with 66% of second home owners either covering part of the property’s costs through rental or, better still, making financial gains from the asset, this is yet more data to hammer home the message that now is the optimal moment to buy your Spanish holiday home or buy-to-let investment.
Get in touch with VIVA today and we’ll be more than happy to find homes that fit your budget, or create a completely free myVIVA account to save your favourite properties and track the newest real estate on the Costa del Sol market!