Valencia: Brits buy older or resale homes…..
‘Brits are turning their backs on new build properties in favour of older, resale homes. We’re seeing a trend in Spain right now for British buyers opting for resale properties instead of new builds. Resale properties now account for 76 per cent of sales, compared with just 24 per cent for new builds. While there is still interest in new build developments from Scandinavian and Belgian buyers, the Brits are all about the resales right now.’
‘Many British buyers are looking for dual purpose properties when it comes to purchases in Spain. In the immediate term, they want a great holiday home that also has the potential to earn income as a holiday let. In the longer term, they want somewhere that can act as investment for their golden years, either as somewhere to escape to for a life in the sunshine or as somewhere that will grow their capital so that they can sell it to fund their retirement.’
‘There was a time when British buyers flocked to new build developments in Spain. But the financial turbulence of the past decade has had an interesting impact on British property purchases in Spain. Confidence is back and the market is growing at a healthy pace, but the type of property that buyers are seeking has definitely shifted. The attractions of sparklingly brand new homes have given way to the warmer appeal of more homely properties. Location is key too – buyers are focused on the closest airport and beach, the nearest shops and other local amenities.
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