British residents have been flocking to Spain in droves since the early 1970s. The number of people leaving their homes and moving to the sun has increased steadily since that time. There are an estimated 4.8 million foreigners living in Spain at the current time, and 8.9% of them come from the UK.
Why do so many families and individuals leave their life behind and buy property overseas? The information below should give you a basic idea.
Spanish property prices. The price of properties in Spain has dropped by 26% in most developed areas since 2009. On average, a home in Spain costs 25% less than the same sized property in the UK. That makes the deal rather enticing.
Other ex-pats. Nobody wants to move to a country where their home language isn’t spoken. Thankfully, there are 297,229 British people living in Spain at the current time. That means ex-pats won’t have to look far to find a friendly face.
Quantity of available homes. Between January and July 2014, the number of housing permits issued was 22,624. Over half a million new homes were built between the years of 2001 and 2009. So, there is certainly no shortage of adequate housing.
Does that idea of moving to Spain appeal to you? Will you follow suit and take steps towards a life in the sun? If so, you need to start working fast. The word on the grapevine is that property prices will soon begin to increase.
Infographic By www.rdtabogados.co.uk