56pc of Britons who own property in Spain and other Eurozone countries are thinking of selling up in 2011, finds a new survey by Currencies.co.uk, a foreign exchange service.
Stephen Hughes, chief analyst at currencies.co.uk said: “For many the reality of owning a second home abroad has become intolerable and what started as a lifestyle aspiration and canny investment opportunity has become a financial millstone.
“Falling prices, currency fluctuation and a prolonged period of economic hardship have taken their toll.”
Economic worries were the main reason behind the changing attitudes, though currency volatility and property market crashes in Greece and Spain also their played part.
Many owners have resorted to holiday lets to weather the storm. A third said that bookings and income declined in 2010.
Repatriating funds after property sales has been a growing business for currensies.co.uk since 2006. Property sales now account for 31pc of business, compared to 7pc in 2006.