The latest Lloyds TSB International Wealth survey has estimated that the volume of wealthy Brits who move overseas is expected to increase over the next two years, with a growing number seeking a new life in Spain.
According to the survey, approximately 19% of people with savings and investments over £250,000 are considering moving overseas, an increase of 17% six months ago and 14% a year ago with new figures from the survey proposing that over half of these individuals could well move overseas by 2014 in search of a better lifestyle.
With many Brits looking set to vacate the UK, stating that they would only reconsider if Briton reduced taxes, cut regulatory red tape for businesses and upgraded public services including healthcare and education, Brits moving overseas over the next two years will certainly increase the demand for homes abroad, particularly in the forever popular location of Spain.
“There is a wealth of opportunity to be had in Spain – the quality of life the nation offers is second to none so it’s no wonder Spain is a top choice. Indeed, with the Costa del Sol Tourism Board having launched a new campaign to attract national and foreign tourists after joining forces with more than 100 local businesses from the tourism sector to create a campaign which promotes all that is great about this favoured Spanish region, we fully expect the Costa del Sol to feel the force of this proposed British arrival. And, the fact that these will be successful, wealthy individuals is a welcomed bonus for the Spanish economy.”
While Brits have proven to be one of Spain’s most loyal visitor and indeed property owners, foreign property buyers from stronger Eurozone are on the up with these nations continuing to purchase Spanish property while prices are low. To highlight this, Fastighetsbyrån, part of the Swedish banking group Swedbank, has identified that Swedish and Norwegian property buyers are pushing hard into the Spanish residential property market with purchases by Swedes up 46% and Norwegians up 61%.
“The Swedish economy has been performing better than the UK given the strength of the krona and low house prices and as a result Swedes are fast becoming Spain’s biggest fans. It is for this reason that we are spending more time on this lucrative market.
“Meanwhile, making it even easier for Swedish property buyers to visit Spain, Scandinavian airline SAS has added direct flights from Stockholm Arlanda to Malaga operating thrice weekly – a welcomed boost to the Spanish/Swedish relationship.”