Saturday, Nov 11, 2006
Re-pats putting more pressure on housing?
thisismoney: We don't love Spain any more
Britain's long property love-affair with Spain is going cold. UK nationals who emigrated with dreams of a carefree retirement are returning home in increasing numbers. And a leading mortgage business says the country is no longer at the top of the list for families seeking holiday homes or buy-to-let properties.
Posted by uncle chris @ 09:34 AM (154 views) Add Comment
3 Comments
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1. little professor said...
Interesting piece on PM on Radio 4 yesterday - apparently 70% of under 35s still live at home with their parents, due to the high cost of houses in Spain. Prices have risen by 400% in 5 years. There've been street protests and riots.
2. Surfgatinho said...
I bet a fair few of these 're-pats' will be priced out when they return to the UK. Sold their council houses back in '97, bought a villa in Spain 10 years spending the change - I doubt there would be much in the UK for the price of a cheap villa these days, if they can actually sell it in the first place
3. indiablue19 said...
Surfgatinho....
Those returning aren't only priced out if they're selling cheap villas either; we cashed in our chips in Spain a few years ago on a five bedroom, four bath golf course home with amazing Med views, and at the height of a bidding war for properties in the subdivision where we lived. Having more than doubled our investment in a year, it was STILL impossible to find anything to buy in the UK when we got back.