For many Britons aiming to purchase a second property in 2018, the dream is often a sun-drenched home within a short distance of the sea. But, with the average UK house price now at £243,339, turning this dream into a reality is unlikely.
That’s why more and more Brits are heading abroad to Spain to purchase their dream beach house, often in the holiday hotspot of the Costa Blanca on Spain’s southeastern coast, which is also a favourite second home destination.
The Costa Blanca, or White Coast, has seen its popularity rise once again, with a record 6.3m foreign visitors in 2017, according to the Valencian tourism agency.
Marc Pritchard, the Sales and Marketing Director of housebuilder Taylor Wimpey España, says: “The Costa Blanca remains very much at the top of the list for British second home buyers. British citizens are looking for quality homes that offer great value. Spacious, beachfront homes are the biggest winners and, when you can buy the same house for half the price overseas, it makes you think twice.”
Indeed, official figures show that foreigners were the biggest buyers on the Costa Blanca last year, with 4,906 homes sold in the third quarter (Q3) alone – a 7.5% rise in sales compared to the same period of 2016.
With data from property portal Kyero.com revealing that the average house price in Alicante province is just €225,000 (£200,000), and properties in hotspots such as Torrevieja and La Marina costing just €132,000 (£117,000) and €148,000 (£130,000) respectively, it’s not hard to see why Brits are flocking overseas to purchase a home!
If you’re thinking of moving abroad, possibly to Spain, we’re pleased to offer you our market-leading Overseas Property Insurance to protect your new home in the sun.
You can get quick quotes and cover through our website here.