Young investors 'looking to Spain'
Spanish property investment is attracting a younger clientele than has been historically evidenced, with many first-time buyers (FTBs) opting for cheaper opportunities abroad, it has emerged.
Rising property prices in the UK are leading many buyers to set their sights on foreign markets and Spain has emerged as a popular option for younger investors, according to new reports from Principal International.
Spain has continued to see relatively high levels of investment among UK buyers, offering cheap property, sunny weather and good connectivity via low-cost air travel. These factors are proving attractive for younger buyers, who are deciding to invest in popular tourist locations.
Recent trends have emerged of FTBs buying properties abroad and renting in the UK, with research from Hiscox suggesting that 40% of people are considering buying their first property in a foreign market.
Among the 18 to 24 age group 97% highlighted house prices as the main barrier to buying in the UK, while 35% believe they will never be able to afford to buy in Britain.
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