Homes abroad more popular than holidays

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by Gill Montia

With summer well underway, this time of year is when Britons head off to sunnier destinations but a study by Natwest has shown that 80% of Britons are drained from planning the annual holiday.

In addition, 40% of Brits were anxious at the thought of shelling out for the family holiday. Natwest research shows that the average family holiday in Spain costs around £3,000.

Over a third of Britons have had their holidays ruined by poor accommodation and one fifth have had theirs spoiled by inedible food and 15% are put-off by other hotel guests.

Given the above, many are deciding to do away with the hotels and buy a home away from home instead. A quarter of a million Britons already own property abroad and 30% of Brits surveyed are eager to join them, primarily due to the fact that they believe owning a home abroad would make family breaks inexpensive without the stress.

A spokesperson for Natwest International Personal Banking highlighted that purchasing a holiday home abroad is fast becoming the standard for British families and Spain remains to the top destination.

Natwest concluded that the purchase of a second home can be a substantial financial commitment, the long term benefits of a holiday home can be profitable as it provides great investment potential, an escape from the stressful holiday arrangements and can pay for itself in the long term.