Spain has regained its position as the top destination for people wanting to buy a property abroad, according to the latest Worldwide Property Finance Research, a quarterly survey by Moneynetinternational.com, the international version of UK website moneynet.co.uk.
Almost a quarter of all enquiries made through its Global Mortgage Service were for the purchase of a property based in mainland Spain, whereas last quarter 27.36% were enquiring to purchase a UK-based property.
France was the second favourite destination this quarter, accounting for almost 18% of enquiries, up from just 10% in the previous survey. Potential purchasers of UK-based property accounted for just over 14% of enquiries, a 13% drop since the last quarter. Cyprus and Italy were the fourth and fifth top destinations respectively.
Of all the enquiries received, just over 68% were from UK-based users (up 3% on last quarter), with the remainder of enquiries coming from the US, the Arab Emirates, central Europe and Asia. Stella Hulott, communications manager at Moneynetinternational.com, explained: ‘Where we say, for example, that Spain is the top destination for people wanting to buy abroad, we mean ‘people’ worldwide, maybe an Australian living in France, or an expat living in Hong Kong. Just because they are UK-based does not mean they are English.’
moneynet.co.uk has also released data gathered from visitors sourcing mortgages through its search facility. It found that overall average property values were £192,971, while the average value of a property for a first-time buyer has risen to £158,156.
A typical salary for an existing homeowner looking to move was £46,745. For dual income households, the average second wage was £21,276 for first-time buyer’s and £21,598 for those wishing to remortgage.