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12 July 2007

Buyers put off investing in Spain

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by Kay Mitchell

Buyers put off investing in Spain

According to a study from British Mortgages Abroad, Spain is still the most popular destination for Britons buying second homes and looking for somewhere to spend their retirement. However, around 80% of Britons would not consider investing here as they are put-off by the number of British ex-pat communities.

According to 4 in ten mortgage advisors, Spain is a good long-term investment but British Mortgages Abroad found that of the 1,000 consumers and 100 mortgage brokers asked which features would sway them to buy a property in a foreign destination, the way of life often wins over investment opportunities.

A spokesperson for British Mortgages Abroad remarked that Spain’s popularity with people from the UK is its main attraction but also its biggest downfall. Spain appeals to many because they know other Britons have moved there and know the area. Many see it as a long-term investment or enjoy the weather and way of life. However, many are eager to find somewhere with its own individuality rather than somewhere overflowing with ex-pats.

According to spanishpropertyinsight.com, the Costa del Sol still remains a good long-term investment and a great destination for Britons looking to relocate. It offers great golf courses, many good restaurants, excellent shopping and walks around the coast. In addition, the hot temperatures are a great attraction on this coastline and are appealing to some of the many Britons looking to move or invest in property in Spain.


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