Coastal exodus – Brits discover Spanish cities
17 November 2006
The British love of Spain continues as Brits buy up developments in Spanish cities. Recent figures produced by holidaylettings.co.uk show a continuing growth in the purchase and supply of holiday homes in Spain. Even now, with Spain an established holiday destination for many and with so many holiday homes and resorts to choose from, the growth continues exponentially. With over 1.25 million Brits now owning homes overseas, a recent holidaylettings.co.uk survey revealed that 57% of holiday homeowners have owned their primary rental property for two years or less.
In the last thirty years Spain has had a significant British expat population, but this is usually associated with the over-developed resorts on the Costas. However, holidaylettings.co.uk’s figures are backed up by further research by spanishpropertyinsight.com which claims a rise in British interest in Spain’s cities as the rise of new developments are on the increase.
Ross Elder, Managing Director of holidaylettings.co.uk said: “Spain has always dominated our holiday home representation. Coastal properties remain popular as ever, but there has been definite growth in the number of inland properties available to rent through our site. Over 30 per cent of enquiries made through our site each month refer to Spain.”
Another report from property investment specialists Assetz,® tells how the Spanish government is buying up land to impede further development of costal areas following recent scandals relating to illegal land deals. Ross Elder commented: “With the restriction of coastal development and debates about over supply we are expecting to see an increase in the already high number of smart city apartments available for short term let in Seville, Madrid and Barcelona.
