The survey showed that, while Spain remained the top destination for buying a holiday home, 82 per cent of those questioned would choose not to buy there because it is perceived as being too full of UK ex-pats.
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Of the 1,000 consumers and 100 brokers questioned, the perception of the English ‘pub frequenting, fish and chip loving’ ex-pat culture is off-putting. They are increasingly focusing on matters such as climate, culture and food when buying, alongside the practical issues of affordability and cheap travel, the survey suggested.
However, four in 10 advisers still placed Spain as the best long-term investment.
Gerry Bell, head of marketing at British Mortgages Abroad, GEMHL, said: “Spain’s popularity with Britons is both its main advantage and its biggest downfall. Many are attracted to the country because they know others who have settled there or are familiar with the destination. Others see it as a good long-term investment or simply enjoy the climate. However, many see Spain as being a little Britain on the Costas and are keen to find somewhere with its own distinct culture and feel, rather than one which is so heavily influenced by a big ex-pat population.”
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Simon Conn, managing director of Conti Financial Services, said: “Spain does have its problems, but has to be looked at as a long-term investment. People should be looking at the established markets.”
