Brits still soft on Spain

Brits still soft on Spain

Tuesday, January 29, 2008

Spain remains the most attractive overseas property investment destination for Brits, according to a study carried out by A Place in the Sun magazine...

The sunny paradise took the honours for the second year in a row, with France's taking second place. However, in a surprising turnaround, Turkey was voted as the third most attractive destination, with a wide range of developments marketed in the UK and year-round sunshine proving to be a big drawer.

Bulgaria, last year's number three and former darling of overseas investment specialists, plummeted five places to seven, like a stone through a wet paper bag.

The United States came in fourth on the list. With prices in some areas of the US down by as much as thirty per cent over the last year and the dollar weakening, the country has become the focus of sustained interest from UK buyers, despite the subprime crisis.

As many as 389,000 Brits moved permanently abroad last year, according to the Office of National Statistics, with many staying with Europe. Richard Way, editor of A Place in the Sun magazine said: "When looking for a second home or new life in the sun it seems that Spain's mix of great weather, rich culture, and beautiful coastline is keeping the country at the number one spot."

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