British home owners in the Eurozone: more than half consider selling up finds new survey

56pc of Britons who own property in Spain and other Eurozone countries are thinking of selling up in 2011, finds a new survey by, a foreign exchange service.

Stephen Hughes, chief analyst at 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 since 2006. Property sales now account for 31pc of business, compared to 7pc in 2006.

About Mark Stücklin

Mark Stücklin is a Barcelona-based Spanish property market analyst, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on All articles published in good faith as a general guide but no substitute for professional advice. Please read the SPI disclaimer

One thought on “British home owners in the Eurozone: more than half consider selling up finds new survey”

  1. adiep

    Seems a bit steep, I wonder which demographic they surveyed, but then 2011 is the year when all of these “austerity” measures are cutting in, so perhaps thats the motivation.

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