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One Third of Brits Eye Property Abroad, Spain Loses out to Bulgaria
Updated: 2006-04-17

One Third of Brits Eye Property Abroad, Spain Loses out to Bulgaria

A third of Britons say they are interested in buying property abroad or indeed moving abroad, shows a survey of the Banco Halifax Hispania, the Spanish arm of Halifax.

Spain leads the ranking of top destinations for Brits who want to buy property in a European country. Worldwide, America and Australia are the favourite choices for potential property buyers, where many Britons have family ties and are not hampered by language barriers.

"Over recent years we have seen a huge increase in the number of UK residents wanting to buy a property in Spain", says Halifax head of European operations Ian Smith.

HIFX notes a slow-down in the Spanish and French property markets (by 13 % and 11 % respectively) and lose out to new emerging hot spots, such as Bulgaria and Dubai.

Still France and Spain remain the most preferred choices among retirees.

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