It’s not difficult to see why Briton’s find buying a property abroad so attractive. High house prices, a temperamental climate and long working hours in the UK can make buying a property abroad seem like a highly desirable option.
Whether for a holiday property or somewhere to live long term, here are our top places to buy a home abroad in 2018.
Spain
Although buyers have fallen over the last few years, Spain remains Britain’s favourite place to buy property abroad. Spain has a well-established expat community and a warmer, drier climate than the UK (although central Spain is surprisingly cold in the winter), making it an attractive destination.
Affordability is a big driver for Britons going to Spain. In 2008, Spain’s property market crashed and the market only began to recover in 2014. Even though the pound is down on its pre Brexit referendum highs, Spain is still remarkably cheap.
What’s more, prices in Spain are on the rise. Spanish bank BBVA forecasts house prices to rise by 5% in 2018.
Buying in Spain is relatively simple. There is no requirement to be a Spanish resident to buy property – the only requirement is a Spanish NIE tax identification number.
One thing to be cautious of is that, in recent years, many homes have been built across the country without proper planning permission. Using a reputable property agency familiar with the area gives you your best chance of avoiding these.
Portugal
Our next country, lying on the Western edge of the Iberian peninsula, is a similarly ‘hot’ option for foreign buyers. Since 11%, on average, was wiped off the value of Portuguese property between 2011 and 2012, prices have recovered well.
From the Algarve and the Costa Da Prata to Porto and Lisbon, the country has a wide range of attractive options for foreign buyers. Lisbon and the Algarve are substantially more expensive than the rest of the country – bear this in mind when looking for options in Portugal.
France
Although more expensive than Spain and Portugal, France is an incredible place to buy a property. If you look in the right place, the country is still temptingly affordable. And, as the largest country in Western Europe, France has no shortage of variety.
Sunny Mediterranean beaches, chic cities, rolling hills, thick forest, dramatic mountains… you name it, France has got it. The Dordogne, the Charente and the Haute-Vienne in the south-west remain the most popular places for Brits.
However, north France is incredibly accessible. If you live in the south of England, it’s just a short ferry across the Channel. This means you can experience that alluring Gallic lifestyle, without straying too far from your life in the UK.
Croatia
Spain, Portugal and France are old favourites for Brits looking for a home abroad. Now it’s time for something a little less predictable.
This former Yugoslavian country is on the rise as a popular place for Brits to buy abroad. Its Dalmatian coast is among the most stunning in the world and the country is home to many quaint towns, as well as its lively capital Zagreb and beautiful Dubrovnik. The Dalmatian coast is a well-established centre for yachting.
The best time to look for properties is at the end of the main tourist season in the Autumn, when prices are lower than they are at peak times.
However, there are some restrictions for foreigners buying property in Croatia. If you hold only Swiss or Italian citizenship you are prohibited from buying a house in the country unless you intend to live there permanently. In addition, foreign buyers are required to seek approval from the Croatian Ministry of Foreign Affairs to attain the necessary documentation to buy a house.
