Are you planning to sell your overseas property fast in 2018? Then you will do well to market the property on property portals that are frequented by British nationals. Britons are the biggest buyers and sellers in the overseas property market.
So whether you want to sell or buy overseas property online in 2018, you will find this article on the top 4 international property destinations for British expats useful.
Brexit has certainly had an impact on the British interest in second homes in Europe. The pound is today valued at 1.13 euro, compared to 3 years ago, when it was valued at 1.5 euro. So, clearly, the buying power of British investors has gone down a bit. Also, a lot of British expats have been selling their overseas properties.
So where are British expats buying overseas properties?
Spain remains the premier destination for British buyers. 70% of Britons buy second homes in either Spain or France, with the majority preferring Spain to France because of the perfect Mediterranean climate, great beaches, and relaxed lifestyle. And yes, the sun – it’s always sunny in Spain. Over 1 million British expats live in Spain and 170,000 own property there. The most popular areas are Costa Blanca, Costa del Sol and Barcelona. Barcelona has been in a bit of trouble lately because of the agitation over Catalan independence, and prices across Catalonia have fallen since 2017. But the rest of Spain is doing fine.
France is back in fashion because of the victory of Emanuel Macron in the Presidential race over his rival from the National Front Marine Le Pen. Britons have always been fascinated with their next door neighbour, and have sought out second homes in France for as long as one can remember. There are over 200,000 Britons who own a house in France. The most popular areas are Provence, French Riviera, Dordogne and Brittany. This is a very good time to buy a house in France as mortgage rates are at a record low and the market is only picking up.
Italy provides one of the best standards of living you’re going to get anywhere in the world. Italy has everything you could ask for in an overseas property destination – great weather, lovely sceneries, modern amenities, first world infrastructure, thriving cities, peaceful countryside, fast cars, great food and beautiful people. However, Italy is in the middle of a political uncertainty, and things will be clearer after the forthcoming general elections to be held this year. As of today, 73,000 British expats own properties in Italy. The most popular areas are Tuscany and Umbria.
Portugal is just like Spain, but far more affordable. That makes it a very popular overseas property destination. The climate is perfect, the law and order situation is as good as it can be – Portugal is probably the safest country in the world, and the people are very friendly. The beaches are great too, especially at the Algarve. Over 20,000 Britons own properties here, mostly in the Algarve and Lisbon.