This is a website for buyers, owners, and sellers of property in Spain, offering reliable information and resources to help you get things done with confidence. It is run by Mark Stücklin, author of the Spanish Property Doctor Column in The Sunday Times (2005-2008), and the book ‘Need to Know: Buying Property in Spain’ published by Collins.
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.
adiep says:
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.