Buying a property in Spain is no longer only a luxury afforded by Britons heading into retirement, according to new research from a Spanish bank.
When asked where they would most like to live overseas, Spain was voted the most popular European destination by Britons. Of those surveyed, nearly seven out of ten people who would most like to live in Spain were under the age of 55, with just 14% over the age of 65 years.
One in twenty people surveyed already owned a home abroad and half of these were under the age of 35 years. One in five people owning their own home abroad were under the age of twenty-five and only 4% were over the age of sixty-five.
It has long been assumed that only the older generation is buying property in Spain, but this is far from the case, as it is also proving to be a popular location amongst younger age groups. Spain is an ideal destination to set up a second or first home.
Spain remains the most popular destination for British people buying overseas property.
According to the Spanish Ministry of Tourism, 1 million foreigners are expected to set up home on the Spanish coast within the next six years. This figure is expected to treble by 2025.