Spanish destinations 'dominate foreign property market'

March 15, 2008

Overseas property buyers from the UK are still mainly opting to buy second homes in traditional European destinations, new figures have revealed. According to Holiday-Rentals, 31 per cent of British-owned holiday homes in Europe are located in Spain, while 27 per cent are in France. The dominance of these countries becomes even more apparent when the figures are placed in a global context. Statistics showed that more than 90 per cent of holiday homes are located in Europe, with places such as Italy and Portugal also proving to be popular choices. However, emerging markets in eastern Europe were said to have attracted an increased level of interest in the last few years. The growing popularity of countries such as Bulgaria was attributed to accessibility improvements, as well as the affordable property prices and potential for capital growth. This comes after the Office for National Statistics revealed that almost 850,000 UK nationals now own a foreign property. For an extensive choice of new and off plan property for sale in Spain on the Costa Blanca and Costa Calida, visit the Novocasa website.