The Costa Blanca and Costa Calida Leader reports that 60% of people visiting international property shows in the UK last year indicated a preference for Spain; France came second in the survey; the USA, Australia and New Zealand placed highly too.
The paper, which is targeted at British ÈmigrÈs living in Spain, says that despite the downturn “there are signs that things are beginning to happen” in the expat property market and that “green shoots of recovery” are starting to make an appearance.
Many people delayed moving abroad in 2009 because of the credit crunch and economic uncertainty. But now that house prices have bottomed out, hundreds look set to take the plunge and buy the home in the sun they always dreamed about.
Overseas property buyers beware, however: the Leader says it’s hearing of “more and more cases concerning expats duped into buying illegal properties or falling foul of a law that has previously been ignored.”
In one case, the Leader reports nine British landowners stand to lose their homes in Almeria following a demolition order. The homes have defective building licences, which local officials blame on the ‘speculative interests of professional defrauders’ who attract foreign investors by offering cheap land and fail to explain local building restrictions.
** Additional Information & Advice **
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