France tops the list for Brits second home

France has over taken the once very popular Spain, for the top spot when it comes to Britons choosing a holiday home abroad.

 

Offering easy access and a perception of market stability – France makes for a more desirable holiday home destination.

 

Spain has also been receiving a lot of attention regarding illegally built properties and a nationwide property crash.

 

Many Brits are finding it hard with house prices at home, the more traditional holiday home destinations have been more resistant to the down-turn – benefiting wealthy second home buyers, according to the research by Savills International and HomeAway.co.uk.

 

British investors know what to look for in a holiday home, lifestyle is an important factor – with most buyers looking for outdoor space. 80 per cent look for a property with a pool, balcony’s are also popular.

 

Closeness to restaurants, bars and a beach are also important. As well as being within close proximity to an airport – reducing travel time and therefore increasing holiday time.

 

Buyers are also worried that Spain’s property market has not dropped to its lowest prices yet. France has not had these problems, proving more stable with less dramatic price drops.

 

Tim Boughton, general manager of HomeAway.co.uk said: ‘The holiday rentals market is one of the fastest growing sectors in the travel industry with around one in five people now opting for this type of accommodation over a hotel due to the value and experience it offers.

 

‘This is good news for today’s lifestyle-motivated buyers as it generally means they can be assured of a strong rentals market which will help contribute towards costs.’

 

Buying property abroad: Advice from Know Before You Go and A Place in the Sun

The Know Before You Go Campaign will be at the A Place In The Sun Live show in Birmingham this weekend.

 

Stephen Jones and Zoe Woodward from the British Consulates in Spain and Cyprus will be taking questions from the public. They’ll be on panel sessions throughout the three days, and available the rest of the time at Know Before You Go stand (stand number B13)

Brits remain one of the biggest ex pat groups overseas, with over 5.6 million living abroad. Research is key to planning to move or buy property abroad. Property laws in other countries often differ from the UK, and it is also important to ensure you plan for the long term, for example pension arrangements.

Stephen and Zoe regularly hear from British nationals who have go into difficulty as a result of not researching fully before signing that contract.

The Foreign Office has produced advice on before you go, when you arrive and buying property to help get you started.