Spanish villas and semis increasing in popularity
11 March 2006
Norwich & Peterborough survey shows Spanish villas and semis increasing in popularity – but apartments are still tops.

Although most Brits still opt for an apartment when buying a home in Spain with a mortgage from Norwich and Peterborough Building Society (N&P), the popularity of detached and semi-detached villas rose slightly, whilst the number of people buying apartments and terraced properties fell again during 2005 — according to the Society.

In 2005:

the total average loan to value borrowed was 55.88%

the average mortgage will be repaid over 15.14 years

the total average loan is £106,871

Mike Sketch, N&P’s head of retail operations, said: “Buying in Spain is still growing in popularity, as people increasingly want to enjoy their retirement abroad or buy a family holiday home that is also an appreciating investment. Property prices are rising slowly, or are stable in the UK and in Spain, prices have also stabilised following a period of growth.”

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