Spain no longer the main destination for Brit’s second homes
A new survey carried out by the HomeAway holiday rentals company and real estate group Savills International has concluded that Spain is no longer the first choice among the Brits for their second residence. 1,700 British property buyers were questioned. More Britons now prefer France because of its better economic stability and the moderation in its house prices. 40% of Brits who buy in Spain later rent out the property, sometimes obtaining an income of as much as 34,500 € a year, but 24% still say that Spain is the place they have chosen for retirement. Despite the change away from purchasing a second home, Spain continues to be the most popular holiday destination for the Brits. In France, Italy and Switzerland the British purchasers usually opt for restored old properties, while in the United States, Cyprus and also in Spain and Portugal, they tend to go for more modern or new constructions.